1020 94th St #203 · Bay Harbor Islands, FL 33154

$348,999

2 bd · 2.0 ba · 929 sqft · Condo public records · 531 Days on market

Built 1968 $1100/mo HOA · 26% of rent

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Why this score? — see what drove the D+ 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 +9.7/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks MLS

CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

Key facts

• Walk-in closet
• Gated pool
• Updated kitchen

Tags

• WALK-IN CLOSET
• UPDATED KITCHEN
• GATED POOL
• STEPS AWAY FROM SANDY BEACHES
• FAMOUS BAY HARBOR SHOPS
• FAMOUS BAY HARBOR RESTAURANTS

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee covers common areas, structure maintenance, and water; Community amenities include pool and elevators

Exterior

• Parking: One covered parking space; 1-car garage
• Security: Complex is fenced
• Utilities: Water included in association fee
• Home design: Attached property; 4 total stories; Entry on level 2; Effective year built
• Construction: Block construction
• Exterior features: Association pool; None listed

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceramic tile flooring; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-658 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (33.3% below list).
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $233k (33.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 86/100 on livability (#13 in FL, #362 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living 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: Ruth K. Broad Bay Harbor K-8 Center (math 76% / reading 76%, grade A, #198 of 2,144 statewide, top 10%, 1,249 students, 29% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 38% FRL vs 64% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.3%/yr); 523 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,162/mo this rent would consume 56% of the median local household income ($90k/yr) (locally 774% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $21k appreciation (6.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 531 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $21k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $300k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,817 (33.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 531 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.19% ✓
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.51×
• Total profit: $50,263
• Equity at exit: $222,137

10-year hold

• IRR: 8.2%
• Equity multiple: 2.64×
• Total profit: $160,093
• Equity at exit: $405,222

Cash invested: $97,720 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 523
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $4,162 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$443 /mo · $5,318/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,100
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $-658

Break-even live

Break-even rent $4,994

Max offer price $232,817

Occupancy floor —

Sensitivity live

Price	-10% $-460	-5% $-559	+0% $-658	+5% $-756	+10% $-855
Rent	-10% $-986	-5% $-822	+0% $-658	+5% $-493	+10% $-329
Rate	-1.0pp $-482	-0.5pp $-569	base $-658	+0.5pp $-748	+1.0pp $-840

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,100 · $13,200/yr
• Likely covers: poolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $348,999 Active 531 DOM
2. 2026-06-17
   days on market $348,999 Active 530 DOM
3. 2026-06-16
   days on market $348,999 Active 529 DOM
4. 2026-06-15
   days on market $348,999 Active 528 DOM
5. 2026-06-13
   days on market $348,999 Active 526 DOM
6. 2026-06-09
   days on market $348,999 Active 522 DOM
7. 2026-06-08
   days on market $348,999 Active 521 DOM
8. 2026-06-08
   days on market $348,999 Active 520 DOM
9. 2026-06-04
   days on market $348,999 Active 517 DOM
10. 2026-06-03
    days on market $348,999 Active 516 DOM
11. 2026-06-02
    days on market $348,999 Active 515 DOM
12. 2026-06-01
    days on market $348,999 Active 514 DOM
13. 2026-05-31
    days on market $348,999 Active 513 DOM
14. 2025-04-23
    price $348,999
15. 2025-03-05
    price $349,999
16. 2025-01-03
    listed $369,999 Active
17. 2024-08-30
    historical
18. 2024-03-15
    price $405,000
19. 2024-01-04
    price $409,000
20. 2023-12-20
    price $479,999
21. 2023-09-04
    listed $490,000 Active
22. 2022-09-01
    soldstatus $300,000
23. 2022-04-18
    soldstatus $255,000
24. 2022-04-08
    soldstatus $255,000 Closed 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

25. 2022-02-22
    status Pending 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

26. 2022-02-22
    status Active 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

27. 2022-02-18
    status Active 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

28. 2022-01-25
    status Active 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

29. 2022-01-17
    status Pending 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

30. 2022-01-12
    price $258,500 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

31. 2022-01-01
    status Active 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

32. 2021-09-18
    price $264,900 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

33. 2021-07-29
    listed $270,000 Active 272-char remark

    Show marketing remark (272 chars)

    CONDO 2/2 SPACIOUS UNIT, WALK-IN CLOSET, UPDATED KITCHEN, 1 ASSIGNED PARKING, EXTRA STORAGE SPACE, BOUTIQUE BUILDING, ONLY 12 EXCLUSIVE RESIDENCE, GATED POOL, BAY HARBOR ISLANDS, STEPS AWAY FROM FAMOUS BAY HARBOR SHOPS, RESTAURANTS SANDY BEACHES, CONDO HAS SOME RESERVES,

34. 2012-09-01
    soldstatus $144,888
35. 2012-08-31
    soldstatus $144,900
36. 1996-12-05
    soldstatus $62,500

ⓘ 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: $5,318 · $443/mo
• Projected year-2 tax: $5,318 · $443/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $49,938
• − Mortgage interest: −$19,549
• − Property taxes: −$5,318
• − Insurance: −$6,863
• − Repairs & maintenance: −$3,995
• − Management: −$3,995
• − HOA: −$13,200
• − Depreciation: −$10,153
• Taxable loss: −$13,135
• Est. tax savings @ 24.0%: +$3,152
• After-tax cash flow: $-4,740/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 — Bay Harbor Islands

• Score: 86/100
• State rank: #13
• US rank: #362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay Harbor Islands, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,435
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% Other Indo-European 5%

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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

+458.4% since first listed

23 events — show timeline

• 2025-04-23 Price Changed $348,999 MARMLS
• 2025-03-05 Price Changed $349,999 MARMLS
• 2025-01-03 Listed $369,999 MARMLS
• 2024-08-30 Listing Removed — MARMLS
• 2024-03-15 Price Changed $405,000 MARMLS
• 2024-01-04 Price Changed $409,000 MARMLS
• 2023-12-20 Price Changed $479,999 MARMLS
• 2023-09-04 Listed $490,000 MARMLS
• 2022-09-01 Sold (Public Records) $300,000 Public Records
• 2022-04-18 Sold (Public Records) $255,000 Public Records
• 2022-04-08 Sold (MLS) $255,000 MARMLS
• 2022-02-22 Pending — MARMLS
• 2022-02-22 Relisted — MARMLS
• 2022-02-18 Relisted — MARMLS
• 2022-01-25 Relisted — MARMLS
• 2022-01-17 Pending — MARMLS
• 2022-01-12 Price Changed $258,500 MARMLS
• 2022-01-01 Relisted — MARMLS
• 2021-09-18 Price Changed $264,900 MARMLS
• 2021-07-29 Listed $270,000 MARMLS
• 2012-09-01 Sold (MLS) $144,888 MARMLS
• 2012-08-31 Sold (Public Records) $144,900 Public Records
• 1996-12-05 Sold (Public Records) $62,500 Public Records

Property tax history

+15.5%/yr

Latest (2025): $5,318 · +1.3% YoY. Source: county tax records.