2935 NE 163rd St Unit 3P · North Miami Beach, FL 33160

$197,000

1 bd · 1.0 ba · 772 sqft · Condo public records · 176 Days on market

Built 1973 $443/mo HOA · 13% of rent

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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
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious 1 bedroom apartment with pool and covered parking, providing convenience and protection for your vehicle in a prime North Miami Beach location. Features brand-new appliances. Enjoy a perfect balance of tranquility and accessibility just minutes from Oleta River State Park, Sunny Isles Beach, Aventura MAll, restaurants, shopping, and everyday services.

Key facts

• Covered parking
• Aventura mall
• Sunny isles beach

Tags

• COVERED PARKING
• BRAND-NEW APPLIANCES
• NORTH MIAMI BEACH LOCATION
• OLETA RIVER STATE PARK
• SUNNY ISLES BEACH
• AVENTURA MALL

Property features AI

Finance

• Other: Annual tax listed (refer to official docs for amount)
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association includes common area maintenance, building maintenance, trash, and water; Association amenities: clubhouse, laundry facilities, pool

Exterior

• Parking: Detached covered garage with 1 space
• Security: Intercom
• Utilities: Water included in association fee; Municipal sewer; Electric service
• Home design: Attached property; 5-story building; Entry on level 3
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Storm/security shutters; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Closet cabinetry; Bedroom located on main level
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $197k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $197k).
• Recommended offer: $173k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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.
• Zoned schools: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents flat; 1879 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 10y ago; this cycle's ask is 12212% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $77k; list at $197k implies a 156% 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 $173,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.74% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.47%
• DSCR: 1.87
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.41×
• Total profit: $22,614
• Equity at exit: $62,448

10-year hold

• IRR: 11.0%
• Equity multiple: 2.17×
• Total profit: $64,583
• Equity at exit: $79,390

Cash invested: $55,160 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1879
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,437 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$262 /mo · $3,148/yr
• Insurance: −$82
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$443
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $468

Break-even live

Break-even rent $2,844

Max offer price $197,000

Occupancy floor 81%

Sensitivity live

Price	-10% $580	-5% $524	+0% $468	+5% $413	+10% $357
Rent	-10% $197	-5% $333	+0% $468	+5% $604	+10% $740
Rate	-1.0pp $568	-0.5pp $518	base $468	+0.5pp $417	+1.0pp $365

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $443 · $5,316/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-16
   days on market $197,000 Active 176 DOM
2. 2026-06-15
   days on market $197,000 Active 175 DOM
3. 2026-06-13
   days on market $197,000 Active 173 DOM
4. 2026-06-09
   days on market $197,000 Active 169 DOM
5. 2026-06-08
   days on market $197,000 Active 168 DOM
6. 2026-06-07
   days on market $197,000 Active 167 DOM
7. 2026-06-04
   days on market $197,000 Active 164 DOM
8. 2026-06-03
   days on market $197,000 Active 163 DOM
9. 2026-06-02
   days on market $197,000 Active 162 DOM
10. 2026-06-01
    days on market $197,000 Active 161 DOM
11. 2026-05-31
    days on market $197,000 Active 160 DOM
12. 2026-02-04
    historical $1,600
13. 2025-12-23
    listed $1,600
14. 2025-12-22
    listed $197,000 Active
15. 2025-12-01
    historical $1,700
16. 2025-12-01
    historical
17. 2025-10-14
    price $1,700
18. 2025-08-26
    listed $1,900
19. 2025-08-25
    historical $1,900
20. 2025-08-25
    listed $197,000 Active
21. 2025-08-14
    price $197,000
22. 2025-08-05
    price $215,000
23. 2025-06-28
    listed $1,900
24. 2025-06-09
    listed $220,000 Active
25. 2025-05-13
    historical $1,650
26. 2025-01-16
    listed $1,650
27. 2023-12-27
    historical $1,750
28. 2023-11-17
    listed $1,750
29. 2023-11-03
    historical $1,750
30. 2023-10-29
    listed $1,750
31. 2020-07-01
    historical
32. 2019-07-16
    listed $155,000 Active
33. 2018-03-15
    historical
34. 2017-09-16
    listed $155,000 Active
35. 2016-06-06
    historical
36. 2016-02-10
    price $162,000
37. 2016-01-20
    listed $165,000 Active
38. 2013-04-24
    soldstatus $77,000 Sold
39. 1993-09-17
    soldstatus $34,000
40. 1973-11-01
    soldstatus $24,800

ⓘ 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: $3,148 · $262/mo
• Projected year-2 tax: $3,148 · $262/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 · 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: $41,247
• − Mortgage interest: −$11,035
• − Property taxes: −$3,148
• − Insurance: −$6,104
• − Repairs & maintenance: −$3,300
• − Management: −$3,300
• − HOA: −$5,316
• − Depreciation: −$5,731
• Taxable income: $3,314
• Est. tax owed @ 24.0%: −$795
• After-tax cash flow: $4,825/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: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% 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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

-93.5% since first listed

29 events — show timeline

• 2026-02-04 Rental Removed $1,600 MARMLS
• 2025-12-23 Listed for Rent $1,600 MARMLS
• 2025-12-22 Listed $197,000 MARMLS
• 2025-12-01 Rental Removed $1,700 MARMLS
• 2025-12-01 Listing Removed — MARMLS
• 2025-10-14 Price Changed $1,700 MARMLS
• 2025-08-26 Listed for Rent $1,900 MARMLS
• 2025-08-25 Rental Removed $1,900 MARMLS
• 2025-08-25 Listed $197,000 MARMLS
• 2025-08-14 Price Changed $197,000 MARMLS
• 2025-08-05 Price Changed $215,000 MARMLS
• 2025-06-28 Listed for Rent $1,900 MARMLS
• 2025-06-09 Listed $220,000 MARMLS
• 2025-05-13 Rental Removed $1,650 MARMLS
• 2025-01-16 Listed for Rent $1,650 MARMLS
• 2023-12-27 Rental Removed $1,750 MARMLS
• 2023-11-17 Listed for Rent $1,750 MARMLS
• 2023-11-03 Rental Removed $1,750 MARMLS
• 2023-10-29 Listed for Rent $1,750 MARMLS
• 2020-07-01 Listing Removed — MARMLS
• 2019-07-16 Listed $155,000 MARMLS
• 2018-03-15 Listing Removed — MARMLS
• 2017-09-16 Listed $155,000 MARMLS
• 2016-06-06 Listing Removed — MARMLS
• 2016-02-10 Price Changed $162,000 MARMLS
• 2016-01-20 Listed $165,000 MARMLS
• 2013-04-24 Sold (MLS) $77,000 MARMLS
• 1993-09-17 Sold (Public Records) $34,000 Public Records
• 1973-11-01 Sold (Public Records) $24,800 Public Records

Property tax history

+8.9%/yr

Latest (2025): $3,148 · -6.6% YoY. Source: county tax records.