17021 N Bay Rd #603 · Sunny Isles Beach, FL 33160

$343,500

2 bd · 2.0 ba · 1,031 sqft · Condo public records · 151 Days on market

Built 1979 $850/mo HOA · 21% of rent

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Why this score? — see what drove the C- 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 +14.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Appreciation +5.3/10.0
• DSCR +4.4/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Sunny Isles Beach, best schools, walking distance to the beach, shopping and restaurants. 2 full bedrooms, 2 full baths, 1031sqft. Community with resort style amenities: tennis courts, basketball, jogging track, playground, beautiful pool area with jacuzzi, BBQ area, exercise room and more! Water, cable and internet included in maintanance. Extra storage. 24 h our security. Parking garage. Storage area. Easy access to ocean, shopping, parks, transportation, etc. Great A+ schools in the area! Can be rented the first year-investors dream.

Key facts

• Jogging track
• Tennis courts
• Beautiful pool area

Tags

• WALKING DISTANCE TO THE BEACH
• TENNIS COURTS
• BASKETBALL
• JOGGING TRACK
• PLAYGROUND
• BEAUTIFUL POOL AREA

Property features AI

Finance

• Financial info: Pets allowed conditionally with possible restrictions
• HOA & community: Monthly association fee of $850; Association covers cable TV, insurance, internet, grounds maintenance, parking, pest control, recreation facilities, reserve fund, security, trash, and water; Community amenities include basketball court, fitness center, barbecue/picnic area, pool, storage, and tennis courts

Exterior

• Parking: Attached covered garage with 1 assigned space
• Security: Intercom; Phone entry; Security guard
• Utilities: Cable available
• Home design: Condominium in a 10-story building; Entry located on level 6; Attached property
• Construction: Block construction
• Exterior features: Barbecue area; Tennis courts; Assigned parking included

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Microwave; Refrigerator
• Bedrooms: Entry level: 6
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Partially furnished; Elevator access; Split bedroom layout; Intercom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $344k.

Deal economics

• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (18.1% below list).
• Meets the 1% rule at list price ($4k rent vs $344k).
• Recommended offer: $281k (18.1% below list) — sets the bar for cash-flow.
• Cap rate 6.6% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, crime A; Watch: housing C-, 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: Norman S. Edelcup/Sunny Isles Beach K-8 (math 68% / reading 69%, grade B+, #409 of 2,144 statewide, top 20%, 2,231 students, 30% 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) — zoned schools average 43% FRL vs 64% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 1879 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k 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.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($302k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $195k; list at $344k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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 $281,199 (18.1% 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 151 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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. 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.
11. 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.
12. 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: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 7.0

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: -6.8%
• Equity multiple: 0.67×
• Total profit: $-31,436
• Equity at exit: $108,887

10-year hold

• IRR: -3.0%
• Equity multiple: 0.68×
• Total profit: $-30,813
• Equity at exit: $138,429

Cash invested: $96,180 (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: 7.0×

Monthly cashflow live

• Estimated rent: $4,104 medium
• Mortgage (P&I): −$1,801
• Tax from tax record: −$373 /mo · $4,481/yr
• Insurance: −$143
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$850
• Vacancy / Maint / Mgmt: −$862
• Net cashflow: $-353

Break-even live

Break-even rent $4,550

Max offer price $281,199

Occupancy floor —

Sensitivity live

Price	-10% $-158	-5% $-255	+0% $-353	+5% $-450	+10% $-547
Rent	-10% $-677	-5% $-515	+0% $-353	+5% $-191	+10% $-28
Rate	-1.0pp $-180	-0.5pp $-265	base $-353	+0.5pp $-442	+1.0pp $-532

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: $85,875
• Closing costs: $10,305
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15701 Collins Ave Sunny Isles Beach, FL	2.0–4.0	2.5–5.5	2325	$18,000	$7.74	4d	9	0.79mi

HOA detail condo

• Monthly dues: $850 · $10,200/yr
• Likely covers: waterinternetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $343,500 Active 151 DOM
2. 2026-06-18
   days on market $343,500 Active 148 DOM
3. 2026-06-17
   days on market $343,500 Active 147 DOM
4. 2026-06-16
   days on market $343,500 Active 146 DOM
5. 2026-06-15
   days on market $343,500 Active 145 DOM
6. 2026-06-13
   days on market $343,500 Active 143 DOM
7. 2026-06-09
   days on market $343,500 Active 139 DOM
8. 2026-06-08
   days on market $343,500 Active 138 DOM
9. 2026-06-07
   days on market $343,500 Active 137 DOM
10. 2026-06-04
    days on market $343,500 Active 134 DOM
11. 2026-06-03
    days on market $343,500 Active 133 DOM
12. 2026-06-02
    days on market $343,500 Active 132 DOM
13. 2026-06-01
    days on market $343,500 Active 131 DOM
14. 2026-05-31
    days on market $343,500 Active 130 DOM
15. 2026-04-29
    price $343,500
16. 2026-01-21
    listed $344,000 Active
17. 2026-01-17
    historical
18. 2025-10-21
    price $344,000
19. 2025-09-30
    price $345,000
20. 2025-09-03
    price $365,000
21. 2025-09-03
    listed $379,000 Active
22. 2025-04-15
    historical
23. 2024-09-02
    price $409,000
24. 2024-06-05
    price $410,000
25. 2024-05-21
    price $425,000
26. 2024-03-29
    price $429,000
27. 2024-03-11
    price $450,000
28. 2024-03-11
    listed $45,000 Active
29. 2021-10-11
    historical
30. 2021-08-05
    listed $279,000 Active
31. 2021-02-26
    soldstatus $195,000
32. 2021-02-24
    soldstatus $195,000 Closed
33. 2021-01-27
    status Pending
34. 2021-01-23
    listed $204,995 Active
35. 2004-05-20
    soldstatus $172,000
36. 1997-08-05
    soldstatus $70,000
37. 1989-06-14
    soldstatus $65,000

ⓘ 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: $4,481 · $373/mo
• Projected year-2 tax: $4,481 · $373/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 7/10 Severe FEMA zone AE · 92% 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: $49,242
• − Mortgage interest: −$19,241
• − Property taxes: −$4,481
• − Insurance: −$6,836
• − Repairs & maintenance: −$3,939
• − Management: −$3,939
• − HOA: −$10,200
• − Depreciation: −$9,993
• Taxable loss: −$9,388
• Est. tax savings @ 24.0%: +$2,253
• After-tax cash flow: $-1,979/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles Beach, FL
• County: Miami-Dade County · 2,697,751 people
• 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

+428.5% since first listed

23 events — show timeline

• 2026-04-29 Price Changed $343,500 MARMLS
• 2026-01-21 Listed $344,000 MARMLS
• 2026-01-17 Listing Removed — MARMLS
• 2025-10-21 Price Changed $344,000 MARMLS
• 2025-09-30 Price Changed $345,000 MARMLS
• 2025-09-03 Price Changed $365,000 MARMLS
• 2025-09-03 Listed $379,000 MARMLS
• 2025-04-15 Listing Removed — MARMLS
• 2024-09-02 Price Changed $409,000 MARMLS
• 2024-06-05 Price Changed $410,000 MARMLS
• 2024-05-21 Price Changed $425,000 MARMLS
• 2024-03-29 Price Changed $429,000 MARMLS
• 2024-03-11 Price Changed $450,000 MARMLS
• 2024-03-11 Listed $45,000 MARMLS
• 2021-10-11 Listing Removed — MARMLS
• 2021-08-05 Listed $279,000 MARMLS
• 2021-02-26 Sold (Public Records) $195,000 Public Records
• 2021-02-24 Sold (MLS) $195,000 MARMLS
• 2021-01-27 Pending — MARMLS
• 2021-01-23 Listed $204,995 MARMLS
• 2004-05-20 Sold (Public Records) $172,000 Public Records
• 1997-08-05 Sold (Public Records) $70,000 Public Records
• 1989-06-14 Sold (Public Records) $65,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $4,481 · +1.3% YoY. Source: county tax records.