16103 NE 19th Ct · North Miami Beach, FL 33162

$1,600,000

9 bd · 5.0 ba · 4,562 sqft · MultiFamily public records · 242 Days on market

Built 1969

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 15 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Are you ready to become an investor and start to build equity and wealth in 2021? If so, this is the opportunity you have been waiting for! First time on the market!Just listed:5 unit multifamily building located in North Miami Beach, just blocks from Biscayne Blvd. Outstanding Location!Well maintained and fully rented. The property has a newer roof, new central a/c for all units, new electrical system, 4 of the units have newer kitchens, the outside of the building has been recently painted and with new outdoor ceramic title in commons areas. The building is perfectly located in a corner, 4 of the units have 2 beds/1 bath, 1 Unit has 1 bed/1 bath. Each unit has its respective electric meter, an assigned parking space, and a common laundry room to serve all units. Great income and very easy to rent.

Key facts

• On-site parking
• Updated interiors
• Tile flooring

Tags

• FULLY RENTED APARTMENTS
• UPDATED INTERIORS
• TILE FLOORING
• SEPARATE ELECTRIC METERS
• ON-SITE PARKING
• PRIME LOCATION

Property features AI

Finance

• Other: Property zoned 6504
• Financial info: Rent includes gardener and water; Actual total rent reported: $10,430 (units leased)

Exterior

• Parking: 8 parking spaces; Additional parking described as 'Other Parking' for units
• Utilities: Cable available; Water service available
• Home design: 2-story building; Resale property; Flat and tile roofing
• Construction: Block construction; Flat and tile roof
• Exterior features: Less than quarter acre lot

Interior

• Bedrooms: Total of 9 bedrooms across units
• Flooring: Tile
• Bathrooms: Total of 5 full bathrooms across units
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 15 × 1-bed/?-bath units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $22k ($263k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($41k rent vs $1.60M).
• Recommended offer: $1.41M (12.0% below list) — sets the bar for market timing.
• Cap rate 22.7% vs local median 5.2% in North Miami Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.6%/yr); 286 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $41,107/mo this rent would consume 813% of the median local household income ($61k/yr) (locally 2509% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $48k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $448k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $100k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $780k; list at $1.60M implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,408,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.57% ✓
• Cap rate: 22.72%
• Cash-on-cash: 58.67%
• DSCR: 3.61
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 53.9%
• Equity multiple: 3.27×
• Total profit: $1,015,588
• Equity at exit: $238,565

10-year hold

• IRR: 57.9%
• Equity multiple: 5.95×
• Total profit: $2,216,390
• Equity at exit: $138,339

Cash invested: $448,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33162

• Rents YoY: -1.6%
• Active inventory: 286
• Price-to-rent: 48.7×

Monthly cashflow live

• Estimated rent: $41,107 medium
• Mortgage (P&I): −$8,391
• Tax from tax record: −$1,514 /mo · $18,173/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,632
• Net cashflow: $21,903

Break-even live

Break-even rent $13,382

Max offer price $1,600,000

Occupancy floor 42%

Sensitivity live

Price	-10% $22,809	-5% $22,356	+0% $21,903	+5% $21,450	+10% $20,997
Rent	-10% $18,655	-5% $20,279	+0% $21,903	+5% $23,527	+10% $25,150
Rate	-1.0pp $22,709	-0.5pp $22,310	base $21,903	+0.5pp $21,488	+1.0pp $21,066

15-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 15× units	1	—	$41,100
Total (15 units)			$41,107

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $1,600,000 Active 242 DOM
2. 2026-06-18
   days on market $1,600,000 Active 239 DOM
3. 2026-06-17
   days on market $1,600,000 Active 238 DOM
4. 2026-06-16
   days on market $1,600,000 Active 237 DOM
5. 2026-06-15
   days on market $1,600,000 Active 236 DOM
6. 2026-06-13
   days on market $1,600,000 Active 234 DOM
7. 2026-06-09
   days on market $1,600,000 Active 230 DOM
8. 2026-06-08
   days on market $1,600,000 Active 229 DOM
9. 2026-06-08
   days on market $1,600,000 Active 228 DOM
10. 2026-06-04
    days on market $1,600,000 Active 225 DOM
11. 2026-06-03
    days on market $1,600,000 Active 224 DOM
12. 2026-06-02
    days on market $1,600,000 Active 223 DOM
13. 2026-06-01
    days on market $1,600,000 Active 222 DOM
14. 2026-05-31
    days on market $1,600,000 Active 221 DOM
15. 2026-02-07
    price $1,600,000
16. 2025-10-22
    listed $1,700,000 Active
17. 2022-10-03
    historical
18. 2022-09-30
    price $1,600,000
19. 2022-05-31
    status Active
20. 2022-01-03
    status Active
21. 2022-01-03
    price $1,650,000
22. 2021-12-09
    price $1,500,000
23. 2021-09-23
    price $1,300,000
24. 2021-05-14
    soldstatus $780,000
25. 2021-05-02
    listed $1,200,000 Active
26. 2021-04-29
    soldstatus $780,000 Closed 810-char remark

    Show marketing remark (810 chars)

    Are you ready to become an investor and start to build equity and wealth in 2021? If so, this is the opportunity you have been waiting for! First time on the market!Just listed:5 unit multifamily building located in North Miami Beach, just blocks from Biscayne Blvd. Outstanding Location!Well maintained and fully rented. The property has a newer roof, new central a/c for all units, new electrical system, 4 of the units have newer kitchens, the outside of the building has been recently painted and with new outdoor ceramic title in commons areas. The building is perfectly located in a corner, 4 of the units have 2 beds/1 bath, 1 Unit has 1 bed/1 bath. Each unit has its respective electric meter, an assigned parking space, and a common laundry room to serve all units. Great income and very easy to rent.

27. 2021-04-21
    status Pending 810-char remark

    Show marketing remark (810 chars)

    Are you ready to become an investor and start to build equity and wealth in 2021? If so, this is the opportunity you have been waiting for! First time on the market!Just listed:5 unit multifamily building located in North Miami Beach, just blocks from Biscayne Blvd. Outstanding Location!Well maintained and fully rented. The property has a newer roof, new central a/c for all units, new electrical system, 4 of the units have newer kitchens, the outside of the building has been recently painted and with new outdoor ceramic title in commons areas. The building is perfectly located in a corner, 4 of the units have 2 beds/1 bath, 1 Unit has 1 bed/1 bath. Each unit has its respective electric meter, an assigned parking space, and a common laundry room to serve all units. Great income and very easy to rent.

28. 2021-02-20
    listed $790,000 Active 810-char remark

    Show marketing remark (810 chars)

    Are you ready to become an investor and start to build equity and wealth in 2021? If so, this is the opportunity you have been waiting for! First time on the market!Just listed:5 unit multifamily building located in North Miami Beach, just blocks from Biscayne Blvd. Outstanding Location!Well maintained and fully rented. The property has a newer roof, new central a/c for all units, new electrical system, 4 of the units have newer kitchens, the outside of the building has been recently painted and with new outdoor ceramic title in commons areas. The building is perfectly located in a corner, 4 of the units have 2 beds/1 bath, 1 Unit has 1 bed/1 bath. Each unit has its respective electric meter, an assigned parking space, and a common laundry room to serve all units. Great income and very easy to rent.

29. 2005-08-12
    soldstatus $550,000
30. 2003-03-05
    soldstatus $275,000
31. 2002-10-10
    soldstatus $72,500
32. 2002-04-30
    soldstatus $210,000
33. 2001-12-06
    soldstatus $200,000
34. 2000-10-06
    soldstatus $160,000
35. 1991-02-12
    soldstatus $162,500
36. 1986-03-01
    soldstatus $155,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $18,173 · $1,514/mo
• Projected year-2 tax: $18,173 · $1,514/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $493,284
• − Mortgage interest: −$89,625
• − Property taxes: −$18,173
• − Insurance: −$8,000
• − Repairs & maintenance: −$39,463
• − Management: −$39,463
• − Depreciation: −$46,545
• Taxable income: $252,015
• Est. tax owed @ 24.0%: −$60,484
• After-tax cash flow: $202,350/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — North Miami Beach

• Score: 82/100
• State rank: #71
• US rank: #1177

Category grades

Amenities B Commute A+ Cost of living A Crime F Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 2%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+932.3% since first listed

22 events — show timeline

• 2026-02-07 Price Changed $1,600,000 MARMLS
• 2025-10-22 Listed $1,700,000 MARMLS
• 2022-10-03 Listing Removed — MARMLS
• 2022-09-30 Price Changed $1,600,000 MARMLS
• 2022-05-31 Relisted — MARMLS
• 2022-01-03 Relisted — MARMLS
• 2022-01-03 Price Changed $1,650,000 MARMLS
• 2021-12-09 Price Changed $1,500,000 MARMLS
• 2021-09-23 Price Changed $1,300,000 MARMLS
• 2021-05-14 Sold (Public Records) $780,000 Public Records
• 2021-05-02 Listed $1,200,000 MARMLS
• 2021-04-29 Sold (MLS) $780,000 MARMLS
• 2021-04-21 Pending — MARMLS
• 2021-02-20 Listed $790,000 MARMLS
• 2005-08-12 Sold (Public Records) $550,000 Public Records
• 2003-03-05 Sold (Public Records) $275,000 Public Records
• 2002-10-10 Sold (Public Records) $72,500 Public Records
• 2002-04-30 Sold (Public Records) $210,000 Public Records
• 2001-12-06 Sold (Public Records) $200,000 Public Records
• 2000-10-06 Sold (Public Records) $160,000 Public Records
• 1991-02-12 Sold (Public Records) $162,500 Public Records
• 1986-03-01 Sold (Public Records) $155,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $18,173 · +11.9% YoY. Source: county tax records.