13499 Biscayne Blvd #506 · North Miami, FL 33181

$185,500

2 bd · 2.0 ba · 1,050 sqft · Condo public records · 129 Days on market

Built 1973 $8/mo HOA

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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
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL 2 BEDROOM, 2 BATHROOM UNIT, VERY NICE KEPT, LARGE MASTER BEDROOM SPACIOUS LIVING AREA, TILED LARGE BALCONY, CENTRALLY LOCATED, NEAR UNIVERSITIES, SHOPS AND THE BEACH. * * * DRASTICALLY REDUCED $20.000!!! * * *

Key facts

• Centrally located
• Swimming pool
• Garden views

Tags

• OPEN RENOVATED KITCHEN
• GARDEN VIEWS
• SWIMMING POOL
• PARTIAL VIEW ON THE BAY
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions or conditions
• HOA & community: Association fee: $100 annually; Association fee: $1,083 monthly; Association covers management, common areas, and parking; Community amenities include bike storage, clubhouse, fitness center, barbecue and picnic areas, and elevators

Exterior

• Parking: 1-car garage with garage door opener; One covered parking space
• Security: Complex is fenced; Doorman; Fire alarm
• Utilities: Cable available
• Home design: Attached property; Entry located on level 5; 15 total stories; Resale unit
• Construction: Brick and block construction
• Exterior features: Courtyard; Bay front and canal front waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Wine cooler
• Bedrooms: Bedroom on main level
• Flooring: Concrete floors; Ceramic tile floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Satellite dish

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $186k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $186k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 4.1% in North Miami — 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 soft (-0.1%/yr); 335 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,313/mo this rent would consume 63% of the median local household income ($63k/yr) (locally 1914% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask is 9175% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $129k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $163,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.79% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.32%
• DSCR: 2.35
• GRM: 4.7

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: 8.7%
• Equity multiple: 1.33×
• Total profit: $16,987
• Equity at exit: $27,659

10-year hold

• IRR: 14.6%
• Equity multiple: 1.99×
• Total profit: $51,255
• Equity at exit: $16,039

Cash invested: $51,940 (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 33181

• Rents YoY: -0.1%
• Active inventory: 335
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,313 medium
• Mortgage (P&I): −$973
• Tax from tax record: −$247 /mo · $2,962/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $886

Break-even live

Break-even rent $2,192

Max offer price $185,500

Occupancy floor 68%

Sensitivity live

Price	-10% $991	-5% $938	+0% $886	+5% $833	+10% $781
Rent	-10% $624	-5% $755	+0% $886	+5% $1,017	+10% $1,148
Rate	-1.0pp $979	-0.5pp $933	base $886	+0.5pp $838	+1.0pp $789

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: $46,375
• Closing costs: $5,565
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 NE 135th St #904 North Miami, FL	2.0	2.0	963	$23,509	$24.41	16d	1	0.33mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	14d	1	0.33mi

HOA detail condo

• Monthly dues: $8 · $96/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $185,500 Active 129 DOM
2. 2026-06-17
   days on market $185,500 Active 128 DOM
3. 2026-06-16
   days on market $185,500 Active 127 DOM
4. 2026-06-15
   days on market $185,500 Active 126 DOM
5. 2026-06-13
   days on market $185,500 Active 124 DOM
6. 2026-06-09
   days on market $185,500 Active 120 DOM
7. 2026-06-08
   days on market $185,500 Active 119 DOM
8. 2026-06-07
   days on market $185,500 Active 118 DOM
9. 2026-06-04
   days on market $185,500 Active 115 DOM
10. 2026-06-03
    days on market $185,500 Active 114 DOM
11. 2026-06-02
    days on market $185,500 Active 113 DOM
12. 2026-06-01
    days on market $185,500 Active 112 DOM
13. 2026-05-31
    days on market $185,500 Active 111 DOM
14. 2026-04-29
    price $185,500
15. 2026-03-11
    historical $2,000
16. 2026-02-27
    listed $2,000
17. 2026-02-09
    listed $189,500 Active
18. 2025-09-30
    historical $2,100
19. 2025-09-06
    listed $2,100
20. 2025-08-30
    historical $2,100
21. 2025-08-27
    listed $2,100
22. 2025-07-16
    historical $2,100
23. 2025-06-12
    listed $2,100
24. 2018-08-13
    soldstatus $129,000
25. 2018-08-01
    soldstatus $129,000 Sold 223-char remark

    Show marketing remark (223 chars)

    BEAUTIFUL 2 BEDROOM, 2 BATHROOM UNIT, VERY NICE KEPT, LARGE MASTER BEDROOM SPACIOUS LIVING AREA, TILED LARGE BALCONY, CENTRALLY LOCATED, NEAR UNIVERSITIES, SHOPS AND THE BEACH. * * * DRASTICALLY REDUCED $20.000!!! * * *

26. 2018-06-18
    status Pending 223-char remark

    Show marketing remark (223 chars)

    BEAUTIFUL 2 BEDROOM, 2 BATHROOM UNIT, VERY NICE KEPT, LARGE MASTER BEDROOM SPACIOUS LIVING AREA, TILED LARGE BALCONY, CENTRALLY LOCATED, NEAR UNIVERSITIES, SHOPS AND THE BEACH. * * * DRASTICALLY REDUCED $20.000!!! * * *

27. 2018-05-02
    price $139,000 223-char remark

    Show marketing remark (223 chars)

    BEAUTIFUL 2 BEDROOM, 2 BATHROOM UNIT, VERY NICE KEPT, LARGE MASTER BEDROOM SPACIOUS LIVING AREA, TILED LARGE BALCONY, CENTRALLY LOCATED, NEAR UNIVERSITIES, SHOPS AND THE BEACH. * * * DRASTICALLY REDUCED $20.000!!! * * *

28. 2018-04-19
    listed $159,000 Active 223-char remark

    Show marketing remark (223 chars)

    BEAUTIFUL 2 BEDROOM, 2 BATHROOM UNIT, VERY NICE KEPT, LARGE MASTER BEDROOM SPACIOUS LIVING AREA, TILED LARGE BALCONY, CENTRALLY LOCATED, NEAR UNIVERSITIES, SHOPS AND THE BEACH. * * * DRASTICALLY REDUCED $20.000!!! * * *

29. 2012-05-25
    soldstatus $78,000
30. 2012-05-25
    soldstatus $79,000
31. 2011-02-17
    soldstatus $53,000
32. 2010-12-19
    historical
33. 2010-09-21
    listed $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: $2,962 · $247/mo
• Projected year-2 tax: $2,962 · $247/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: $39,759
• − Mortgage interest: −$10,391
• − Property taxes: −$2,962
• − Insurance: −$6,046
• − Repairs & maintenance: −$3,181
• − Management: −$3,181
• − HOA: −$96
• − Depreciation: −$5,396
• Taxable income: $8,506
• Est. tax owed @ 24.0%: −$2,041
• After-tax cash flow: $8,590/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

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

+196.8% since first listed

20 events — show timeline

• 2026-04-29 Price Changed $185,500 MARMLS
• 2026-03-11 Rental Removed $2,000 MARMLS
• 2026-02-27 Listed for Rent $2,000 MARMLS
• 2026-02-09 Listed $189,500 MARMLS
• 2025-09-30 Rental Removed $2,100 MARMLS
• 2025-09-06 Listed for Rent $2,100 MARMLS
• 2025-08-30 Rental Removed $2,100 MARMLS
• 2025-08-27 Listed for Rent $2,100 MARMLS
• 2025-07-16 Rental Removed $2,100 MARMLS
• 2025-06-12 Listed for Rent $2,100 MARMLS
• 2018-08-13 Sold (Public Records) $129,000 Public Records
• 2018-08-01 Sold (MLS) $129,000 MARMLS
• 2018-06-18 Pending — MARMLS
• 2018-05-02 Price Changed $139,000 MARMLS
• 2018-04-19 Listed $159,000 MARMLS
• 2012-05-25 Sold (Public Records) $78,000 Public Records
• 2012-05-25 Sold (MLS) $79,000 MARMLS
• 2011-02-17 Sold (Public Records) $53,000 Public Records
• 2010-12-19 Listing Removed — MARMLS
• 2010-09-21 Listed $62,500 MARMLS

Property tax history

+7.9%/yr

Latest (2025): $2,962 · -9.7% YoY. Source: county tax records.