16909 N Bay Rd #815 · Sunny Isles Beach, FL 33160

$249,900

1 bd · 1.0 ba · 767 sqft · Condo public records · 4 Days on market

Built 1979 $599/mo HOA · 16% 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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

WONDERFUL OCEAN SKYLINE VIEW FROM ALL WINDOWS. 1 BLOCK TO OCEAN, MALL AND SUPERMARKET. 24 HOUR SECURITY GUARDS, 2 FREE GARAGE SPACES. HUGE HEATED POOL, WORK OUT CENTER, PARTY ROOMS, FREE USE OF COMPUTERS IN LIBRARY. RENTED THROUGH FEBRUARY 28, 2013, AT $90 0 MO. MUST GIVE 24 HOUR NOTICE TO TENANT TO SHOW. MINUTES TO RESTAURANTS, MOVIES, AVENTURA SHOPS, FIU UNIVERSITY. BEST SCHOOLS-ALL GRADES. THIS IS IN THE ACTION AREA OF SOUTH FLORIDA. SEE BROKER REMARKS ABOUT SPECIAL ASSESSMENT. FIRM SELLING PRICE.

Key facts

• $599 HOA
• 2 garage spots
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed (pet restrictions)
• HOA & community: Monthly association fee; Association fee includes management, amenities, cable TV, insurance, internet, building maintenance, parking, pest control, pool(s), sewer, trash, and water; Community amenities include bike storage, fitness center, barbecue, picnic area, pool, storage, tennis court(s), and transportation service

Exterior

• Parking: 2-car garage; 2 covered parking spaces; Guest parking; One additional parking space
• Security: Complex fenced; Intercom; Key card entry; Secured lobby; Security guard
• Utilities: Heated pool
• Home design: Attached property; Entry on level 8; Located on the 8th floor; 9 total stories
• Construction: Block construction; Resale property
• Exterior features: Balcony; Barbecue; Courtyard; Fence; Tennis court(s); Open balcony/patio

Interior

• Kitchen: Electric range; Self-cleaning oven; Microwave; Disposal; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; First-floor entry; Main living area on entry level
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 9.6% 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: schools A+, amenities A+, health & safety 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.
• Market conditions: Rents flat; 1878 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,779/mo this rent would consume 68% of the median local household income ($67k/yr) (locally 3106% 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 $3k of equity ($2k 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.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $130k; list at $250k implies a 92% 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 $249,900

Questions for the listing agent

1. Built in 1979 — 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. 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?
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: 1.51% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.82%
• DSCR: 1.53
• GRM: 5.5

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: 2.6%
• Equity multiple: 1.12×
• Total profit: $8,671
• Equity at exit: $79,217

10-year hold

• IRR: 5.5%
• Equity multiple: 1.59×
• Total profit: $41,608
• Equity at exit: $100,708

Cash invested: $69,972 (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: 1878
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,779 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$283 /mo · $3,393/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$599
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $263

Break-even live

Break-even rent $3,447

Max offer price $249,900

Occupancy floor 88%

Sensitivity live

Price	-10% $404	-5% $333	+0% $263	+5% $192	+10% $121
Rent	-10% $-36	-5% $113	+0% $263	+5% $412	+10% $561
Rate	-1.0pp $389	-0.5pp $326	base $263	+0.5pp $198	+1.0pp $132

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: poolsecurity
• ⚠ Special-assessment mentions:

  …SHOPS, FIU UNIVERSITY. BEST SCHOOLS-ALL GRADES. THIS IS IN THE ACTION AREA OF SOUTH FLORIDA. SEE BROKER REMARKS ABOUT SPECIAL ASSESSMENT. FIRM SELLING PRICE.

Listing history 3 events

1. 2026-06-21
   days on market $249,900 Active 4 DOM
2. 2026-06-17
   remarks 184-char remark
3. 2026-06-17
   listed $249,900 Active 1 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: $3,393 · $283/mo
• Projected year-2 tax: $3,393 · $283/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 · 74% 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: $45,352
• − Mortgage interest: −$13,998
• − Property taxes: −$3,393
• − Insurance: −$6,368
• − Repairs & maintenance: −$3,628
• − Management: −$3,628
• − HOA: −$7,188
• − Depreciation: −$7,270
• Taxable loss: −$122
• Est. tax savings @ 24.0%: +$29
• After-tax cash flow: $3,182/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

+235.7% since first listed

7 events — show timeline

• 2026-06-08 Listed $249,900 MARMLS
• 2022-11-18 Rental Removed — MARMLS
• 2013-06-25 Sold (Public Records) $130,000 Public Records
• 2013-06-03 Sold (MLS) $130,000 MARMLS
• 2013-06-03 Listing Removed — MARMLS
• 1985-09-01 Sold (Public Records) $67,000 Public Records
• 1985-06-01 Sold (Public Records) $74,444 Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,393 · -0.6% YoY. Source: county tax records.