12590 NE 16th Ave #610 · North Miami, FL 33161

$134,900

1 bd · 1.0 ba · 878 sqft · Condo public records · 18 Days on market

Built 1969 $900/mo HOA · 28% 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
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT OPPORTUNITY FOR FIRST-TIME BUYERS OR INVESTORS! Bright and spacious 1-bedroom, 1-bath apartment located on the 6th floor — the top floor — of well-maintained Coronado Towers in North Miami. This unit features a functional layout, generous closet space, abundant natural light, and 1 assigned parking space. Vacant and ready for immediate occupancy, with final improvement works currently being completed. Building amenities include a clubhouse, pool and laundry facilities on the ground floor. Prime location just minutes from Biscayne Blvd, FIU, shopping, dining, and major highways. Located in a strong rental area with high demand, making it an excellent opportunity for both in

Key facts

• Clubhouse
• Pool
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• GENEROUS CLOSET SPACE
• ABUNDANT NATURAL LIGHT
• ASSIGNED PARKING SPACE
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Association pool
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association fee: $900/month; Association management; Common areas; Laundry; Parking; Pool(s)

Exterior

• Parking: Detached garage (1 space); One covered parking space
• Security: Complex fenced; Secured garage/parking; Key card entry; Smoke detectors
• Utilities: Association-provided hot water; Water service included in association; Sewer included in association; Electric service; Trash included in association
• Home design: Condo/unit in a multi-story building; 6 total stories; Entry on 6th level; Updated/remodeled; Attached unit
• Construction: Brick and block construction
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; First floor entry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 (-0.7%/yr); 338 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 $3,173/mo this rent would consume 65% of the median local household income ($58k/yr) (locally 3226% 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 $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 13y 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 $115k; 17% 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 28% 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 $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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 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?
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: 2.35% ✓
• Cap rate: 11.90%
• Cash-on-cash: 20.02%
• DSCR: 1.89
• GRM: 3.5

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: -13.6%
• Equity multiple: 0.54×
• Total profit: $-17,301
• Equity at exit: $20,114

10-year hold

• IRR: -25.6%
• Equity multiple: 0.19×
• Total profit: $-30,685
• Equity at exit: $11,664

Cash invested: $37,772 (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 33161

• Rents YoY: -0.7%
• Active inventory: 338
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,173 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$213 /mo · $2,551/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$900
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $204

Break-even live

Break-even rent $2,915

Max offer price $134,900

Occupancy floor 89%

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: $33,725
• Closing costs: $4,047
• 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	15d	1	0.94mi
2020 NE 135th St North Miami, FL	2.0	2.0	963	$23,509	$24.41	14d	1	0.94mi

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $134,900 Active 18 DOM
2. 2026-06-17
   days on market $134,900 Active 17 DOM
3. 2026-06-16
   days on market $134,900 Active 16 DOM
4. 2026-06-15
   days on market $134,900 Active 15 DOM
5. 2026-06-13
   days on market $134,900 Active 13 DOM
6. 2026-06-09
   days on market $134,900 Active 9 DOM
7. 2026-06-08
   days on market $134,900 Active 8 DOM
8. 2026-06-07
   days on market $134,900 Active 7 DOM
9. 2026-06-04
   days on market $134,900 Active 4 DOM
10. 2026-06-03
    days on market $134,900 Active 3 DOM
11. 2026-06-02
    days on market $134,900 Active 2 DOM
12. 2026-06-01
    remarks 687-char remark
13. 2026-06-01
    listed $134,900 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: $2,551 · $213/mo
• Projected year-2 tax: $2,551 · $213/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: $38,072
• − Mortgage interest: −$7,556
• − Property taxes: −$2,551
• − Insurance: −$5,793
• − Repairs & maintenance: −$3,046
• − Management: −$3,046
• − HOA: −$10,800
• − Depreciation: −$3,924
• Taxable income: $1,355
• Est. tax owed @ 24.0%: −$325
• After-tax cash flow: $2,118/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): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

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 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

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: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• 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

+399.6% since first listed

25 events — show timeline

• 2026-05-31 Listed $134,900 MARMLS
• 2026-05-29 Listed for Rent $1,690 MARMLS
• 2024-04-03 Listing Removed — MARMLS
• 2024-03-15 Relisted — MARMLS
• 2023-12-18 Listed $149,000 MARMLS
• 2022-09-23 Pending — MARMLS
• 2022-09-23 Listing Removed — MARMLS
• 2022-09-16 Listed $178,000 MARMLS
• 2021-07-22 Sold (Public Records) $115,000 Public Records
• 2021-06-29 Sold (MLS) $115,000 MARMLS
• 2021-05-10 Pending — MARMLS
• 2020-04-07 Listed $125,000 MARMLS
• 2019-04-11 Sold (Public Records) $91,500 Public Records
• 2019-04-05 Sold (MLS) $92,500 MARMLS
• 2019-03-11 Pending — MARMLS
• 2019-02-18 Listed $99,500 MARMLS
• 2016-04-01 Listing Removed — MARMLS
• 2015-02-23 Price Changed $79,900 MARMLS
• 2015-02-23 Price Changed $89,900 MARMLS
• 2015-01-29 Listed $89,900 MARMLS
• 2014-03-01 Listing Removed — MARMLS
• 2014-02-11 Price Changed $79,800 MARMLS
• 2013-10-01 Listed $89,900 MARMLS
• 2001-04-03 Sold (Public Records) $34,000 Public Records
• 1995-07-25 Sold (Public Records) $27,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $2,551 · -0.1% YoY. Source: county tax records.