2025 NE 164th St #601 · North Miami Beach, FL 33162

$110,000

1 bd · 1.0 ba · 790 sqft · Condo public records · 5 Days on market

Built 1970 $492/mo HOA · 15% of rent

---

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

Listing remarks MLS

SECURE BLDG CLOSE TO PUBLIC TRANSPORTATION, SHOPPING AND SCHOOLS. UNIT HAS TILE FLOORS, NEWER A/C. NEEDS TLC. PRICED TO SELL. .. PLEASE USE SHOW ASSIST FOR APPOINTMENTS.

Key facts

• Waterfront location
• $492 HOA
• Parking

Tags

• WATERFRONT CONDOMINIUM
• WATERFRONT LOCATION
• DIRECT ACCESS TO WATER

Property features AI

Finance

• Other: Building area listed as 790 (public records)
• Financial info: Pets not allowed
• HOA & community: Association with monthly fee; HOA covers water, sewer and trash; Association amenities include laundry, management, pool, on-site manager and security; Association fee: $492 per month

Exterior

• Parking: 1 parking space; No carport
• Security: Security services (association amenity); Manager on site
• Utilities: Public water; Public sewer; Sewer and water connected
• Home design: Condominium; Resale condition; 9 total stories; Faces north
• Construction: Block/CBS construction; Concrete roof; Built using standard condominium construction materials
• Exterior features: Waterfront property; Pool (association amenity)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 6 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable built-in interior features listed
• Laundry & utility: On-site laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Cap rate 22.2% 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.
• Zoned schools: Fulford Elementary School (math 40% / reading 35%, grade F, #1,596 of 2,144 statewide, top 75%, 461 students, 64% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $47k; list at $110k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.02% ✓
• Cap rate: 22.21%
• Cash-on-cash: 56.86%
• DSCR: 3.53
• GRM: 2.8

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: 31.8%
• Equity multiple: 2.26×
• Total profit: $38,793
• Equity at exit: $16,401

10-year hold

• IRR: 36.4%
• Equity multiple: 3.70×
• Total profit: $83,172
• Equity at exit: $9,511

Cash invested: $30,800 (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: 284
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $3,319 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$48 /mo · $573/yr
• Insurance: −$46
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$492
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $1,033

Break-even live

Break-even rent $2,011

Max offer price $110,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,095	-5% $1,064	+0% $1,033	+5% $1,002	+10% $971
Rent	-10% $771	-5% $902	+0% $1,033	+5% $1,164	+10% $1,295
Rate	-1.0pp $1,088	-0.5pp $1,061	base $1,033	+0.5pp $1,004	+1.0pp $975

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $492 · $5,904/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $110,000 Active 5 DOM
2. 2026-06-17
   days on market $110,000 Active 4 DOM
3. 2026-06-16
   days on market $110,000 Active 3 DOM
4. 2026-06-15
   remarks 657-char remark
5. 2026-06-15
   listed $110,000 Active 2 DOM

ⓘ 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: $573 · $48/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$340/yr (+$28/mo · 59.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 92% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $39,826
• − Mortgage interest: −$6,162
• − Property taxes: −$573
• − Insurance: −$5,668
• − Repairs & maintenance: −$3,186
• − Management: −$3,186
• − HOA: −$5,904
• − Depreciation: −$3,200
• Taxable income: $11,946
• Est. tax owed @ 24.0%: −$2,867
• After-tax cash flow: $9,527/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

+323.1% since first listed

12 events — show timeline

• 2026-06-12 Listed $110,000 Beaches MLS
• 2014-07-29 Sold (MLS) $47,000 MARMLS
• 2014-07-29 Sold (Public Records) $43,000 Public Records
• 2014-05-16 Pending — MARMLS
• 2014-05-16 Price Changed $52,500 MARMLS
• 2014-04-24 Price Changed $62,500 MARMLS
• 2014-04-04 Listed $68,900 MARMLS
• 2005-03-16 Sold (Public Records) $125,000 Public Records
• 2004-07-29 Sold (Public Records) $72,000 Public Records
• 2002-04-12 Sold (Public Records) $45,000 Public Records
• 1996-08-15 Sold (Public Records) $25,500 Public Records
• 1994-09-06 Sold (Public Records) $26,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $573 · +3.9% YoY. Source: county tax records.