1020 94th St #503 · Bay Harbor Islands, FL 33154

$368,500

2 bd · 2.0 ba · 929 sqft · Condo public records · 100 Days on market

Built 1968 $1127/mo HOA · 27% of rent

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Why this score? — see what drove the D+ 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 +8.8/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.2/5.0

Listing remarks

Top floor corner apartment with lots of light and new impact windows. Large 2 bedrooms, 2 full bath. 929 sq ft. Boutique small building with only 3 apartments per floor (only 12 units total). Unit is updated and move-in ready. Apartment has East, South and west and has sunrise and sunset views. Lots of closet space. Secure lobby. Walking distance to famous Bal Harbour Shops and restaurants. 1 assigned parking and guest parking is available in front of building. Newly renovated pool area. Building will be painted in April. Seller Financing is available with 35% down.

Key facts

• Secure lobby
• Lots of closet space
• New impact windows

Tags

• TOP FLOOR CORNER APARTMENT
• NEW IMPACT WINDOWS
• UPDATED AND MOVE IN READY
• SUNSET VIEWS
• LOTS OF CLOSET SPACE
• SECURE LOBBY

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association amenities include laundry, pool, and elevator(s); Association fee covers hot water, insurance, laundry, structure maintenance, pest control, sewer, trash, and water

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Intercom
• Utilities: Water and sewer included in association amenities; Electric service (standard)
• Home design: Multi-story building (5 stories); Unit entry on 5th level; Attached property
• Construction: Block construction; Resale property
• Exterior features: No notable exterior features listed; Association pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; First-floor entry; Tub with shower; Elevator access; Intercom
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $368k.

Deal economics

• At list price, monthly cash flow is $-728 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (34.9% below list).
• Meets the 1% rule at list price ($4k rent vs $368k).
• Recommended offer: $240k (34.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 86/100 on livability (#13 in FL, #362 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, 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: Ruth K. Broad Bay Harbor K-8 Center (math 76% / reading 76%, grade A, #198 of 2,144 statewide, top 10%, 1,249 students, 29% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 38% FRL vs 64% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.3%/yr); 523 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,162/mo this rent would consume 56% of the median local household income ($90k/yr) (locally 774% 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 $25k of equity ($3k loan paydown + $23k appreciation (6.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y 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 $145k; list at $368k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 27% 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 $239,826 (34.9% 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 100 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.13% ✓
• Cap rate: 5.31%
• Cash-on-cash: -3.51%
• DSCR: 0.84
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.50×
• Total profit: $51,494
• Equity at exit: $234,549

10-year hold

• IRR: 8.0%
• Equity multiple: 2.62×
• Total profit: $167,126
• Equity at exit: $427,865

Cash invested: $103,180 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 523
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $4,162 medium
• Mortgage (P&I): −$1,932
• Tax from tax record: −$376 /mo · $4,517/yr
• Insurance: −$154
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,127
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $-728

Break-even live

Break-even rent $5,084

Max offer price $239,826

Occupancy floor —

Sensitivity live

Price	-10% $-520	-5% $-624	+0% $-728	+5% $-833	+10% $-937
Rent	-10% $-1,057	-5% $-893	+0% $-728	+5% $-564	+10% $-400
Rate	-1.0pp $-543	-0.5pp $-635	base $-728	+0.5pp $-824	+1.0pp $-921

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: $92,125
• Closing costs: $11,055
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,127 · $13,524/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $368,500 Active 100 DOM
2. 2026-06-18
   days on market $368,500 Active 97 DOM
3. 2026-06-17
   days on market $368,500 Active 96 DOM
4. 2026-06-16
   days on market $368,500 Active 95 DOM
5. 2026-06-15
   days on market $368,500 Active 94 DOM
6. 2026-06-13
   days on market $368,500 Active 92 DOM
7. 2026-06-09
   days on market $368,500 Active 88 DOM
8. 2026-06-08
   days on market $368,500 Active 87 DOM
9. 2026-06-07
   days on market $368,500 Active 86 DOM
10. 2026-06-04
    days on market $368,500 Active 83 DOM
11. 2026-06-03
    days on market $368,500 Active 82 DOM
12. 2026-06-02
    days on market $368,500 Active 81 DOM
13. 2026-06-01
    days on market $368,500 Active 80 DOM
14. 2026-05-31
    days on market $368,500 Active 79 DOM
15. 2026-04-30
    price $2,500
16. 2026-03-13
    listed $368,500 Active
17. 2026-02-07
    listed $2,600
18. 2025-08-13
    status Pending
19. 2025-08-13
    historical
20. 2025-07-21
    listed $259,000 Active
21. 2025-06-30
    historical
22. 2025-04-30
    price $296,000
23. 2025-04-25
    price $300,000
24. 2025-04-02
    price $305,000
25. 2025-02-20
    price $310,000
26. 2025-01-24
    price $330,000
27. 2024-12-30
    listed $379,000 Active
28. 2024-11-11
    historical $2,500
29. 2024-10-29
    price $2,500
30. 2024-10-23
    listed $2,700
31. 2024-03-04
    historical $2,650
32. 2024-01-09
    listed $2,700
33. 2019-06-11
    historical
34. 2019-03-18
    status Active
35. 2019-03-18
    status Pending
36. 2018-12-11
    listed $215,000 Active
37. 2013-02-16
    soldstatus $145,000
38. 2013-01-28
    soldstatus $145,000
39. 2005-03-14
    soldstatus $205,000
40. 2003-11-19
    soldstatus $140,000
41. 1991-04-15
    soldstatus $41,000

ⓘ 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: $4,517 · $376/mo
• Projected year-2 tax: $4,517 · $376/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: $49,938
• − Mortgage interest: −$20,642
• − Property taxes: −$4,517
• − Insurance: −$6,961
• − Repairs & maintenance: −$3,995
• − Management: −$3,995
• − HOA: −$13,524
• − Depreciation: −$10,720
• Taxable loss: −$14,416
• Est. tax savings @ 24.0%: +$3,460
• After-tax cash flow: $-5,281/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 — Bay Harbor Islands

• Score: 86/100
• State rank: #13
• US rank: #362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay Harbor Islands, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,435
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% 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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

-93.9% since first listed

27 events — show timeline

• 2026-04-30 Price Changed $2,500 MARMLS
• 2026-03-13 Listed $368,500 MARMLS
• 2026-02-07 Listed for Rent $2,600 MARMLS
• 2025-08-13 Pending — MARMLS
• 2025-08-13 Listing Removed — MARMLS
• 2025-07-21 Listed $259,000 MARMLS
• 2025-06-30 Listing Removed — MARMLS
• 2025-04-30 Price Changed $296,000 MARMLS
• 2025-04-25 Price Changed $300,000 MARMLS
• 2025-04-02 Price Changed $305,000 MARMLS
• 2025-02-20 Price Changed $310,000 MARMLS
• 2025-01-24 Price Changed $330,000 MARMLS
• 2024-12-30 Listed $379,000 MARMLS
• 2024-11-11 Rental Removed $2,500 MARMLS
• 2024-10-29 Price Changed $2,500 MARMLS
• 2024-10-23 Listed for Rent $2,700 MARMLS
• 2024-03-04 Rental Removed $2,650 MARMLS
• 2024-01-09 Listed for Rent $2,700 MARMLS
• 2019-06-11 Listing Removed — MARMLS
• 2019-03-18 Relisted — MARMLS
• 2019-03-18 Pending — MARMLS
• 2018-12-11 Listed $215,000 MARMLS
• 2013-02-16 Sold (Public Records) $145,000 Public Records
• 2013-01-28 Sold (MLS) $145,000 MARMLS
• 2005-03-14 Sold (Public Records) $205,000 Public Records
• 2003-11-19 Sold (Public Records) $140,000 Public Records
• 1991-04-15 Sold (Public Records) $41,000 Public Records

Property tax history

+13.5%/yr

Latest (2025): $4,517 · +4.5% YoY. Source: county tax records.