13499 Biscayne Blvd #1506 · North Miami, FL 33181

$179,900

2 bd · 2.0 ba · 1,050 sqft · Condo public records · 124 Days on market

Built 1973

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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 +20.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 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

Beautiful 2/2 in North Miami with spectacular view of the Inter-coastal. Close to shopping centers, restaurants, and Universities. The unit has lots of natural light.

Key facts

• Spectacular view
• Natural light
• Garage

Tags

• SPECTACULAR VIEW
• NATURAL LIGHT

Property features AI

Finance

• Other: Association fee amount listed (monthly)
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association covers common areas and cable TV; Community amenities include bike storage and elevators

Exterior

• Parking: Covered parking (1 space); 1-car garage
• Security: Secured elevator; Secured lobby; Phone entry; Fire alarm; On-site security guard; Exterior lighting
• Utilities: Central air conditioning; Electric heating
• Home design: Condo/Apartment in a multi-story building; Entry on level 15; Has a view; Waterfront with canal access
• Construction: Block construction; 16-story building; Year built unknown
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Dishwasher
• Bedrooms: Bedroom located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: First-floor entry; Bedroom on main level; Tub with shower

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 $5k 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 124 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $60k; list at $180k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 33% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,312 (12.0% 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 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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 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?
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: 1.84% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.51%
• DSCR: 1.24
• GRM: 4.5

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: -32.3%
• Equity multiple: 0.00×
• Total profit: $-50,293
• Equity at exit: $26,824

10-year hold

• IRR: —
• Equity multiple: -0.85×
• Total profit: $-93,223
• Equity at exit: $15,554

Cash invested: $50,372 (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: 4.5×

Monthly cashflow live

• Estimated rent: $3,313 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$285 /mo · $3,419/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 19 same-building comps: −$1,083
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $-195

Break-even live

Break-even rent $3,561

Max offer price $145,379

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• 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	0.33mi
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: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $179,900 Active 124 DOM
2. 2026-06-17
   days on market $179,900 Active 123 DOM
3. 2026-06-16
   days on market $179,900 Active 122 DOM
4. 2026-06-15
   days on market $179,900 Active 121 DOM
5. 2026-06-13
   days on market $179,900 Active 119 DOM
6. 2026-06-09
   days on market $179,900 Active 115 DOM
7. 2026-06-08
   days on market $179,900 Active 114 DOM
8. 2026-06-07
   days on market $179,900 Active 113 DOM
9. 2026-06-04
   days on market $179,900 Active 110 DOM
10. 2026-06-03
    days on market $179,900 Active 109 DOM
11. 2026-06-02
    days on market $179,900 Active 108 DOM
12. 2026-06-01
    days on market $179,900 Active 107 DOM
13. 2026-05-31
    days on market $179,900 Active 106 DOM
14. 2026-02-14
    listed $179,900 Active
15. 2026-02-13
    historical
16. 2026-01-09
    price $179,900
17. 2025-02-07
    price $219,000
18. 2025-02-05
    price $229,000
19. 2024-10-22
    listed $249,000 Active
20. 2024-09-26
    historical
21. 2024-05-03
    price $249,000
22. 2023-12-23
    price $265,000
23. 2023-09-22
    historical
24. 2023-09-17
    listed
25. 2023-08-29
    historical
26. 2023-03-27
    listed $259,000 Active
27. 2022-12-28
    historical
28. 2022-05-12
    listed $290,000 Active
29. 2012-07-13
    soldstatus $60,000
30. 2005-06-24
    soldstatus $227,000
31. 2002-09-13
    soldstatus $93,000
32. 1997-11-05
    soldstatus $82,500

ⓘ 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: $3,419 · $285/mo
• Projected year-2 tax: $3,419 · $285/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: −$10,077
• − Property taxes: −$3,419
• − Insurance: −$6,018
• − Repairs & maintenance: −$3,181
• − Management: −$3,181
• − HOA: −$12,996
• − Depreciation: −$5,233
• Taxable loss: −$4,347
• Est. tax savings @ 24.0%: +$1,043
• After-tax cash flow: $-1,302/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

+118.1% since first listed

19 events — show timeline

• 2026-02-14 Listed $179,900 MARMLS
• 2026-02-13 Listing Removed — MARMLS
• 2026-01-09 Price Changed $179,900 MARMLS
• 2025-02-07 Price Changed $219,000 MARMLS
• 2025-02-05 Price Changed $229,000 MARMLS
• 2024-10-22 Listed $249,000 MARMLS
• 2024-09-26 Listing Removed — MARMLS
• 2024-05-03 Price Changed $249,000 MARMLS
• 2023-12-23 Price Changed $265,000 MARMLS
• 2023-09-22 Rental Removed — MARMLS
• 2023-09-17 Listed for Rent — MARMLS
• 2023-08-29 Rental Removed — MARMLS
• 2023-03-27 Listed $259,000 MARMLS
• 2022-12-28 Listing Removed — MARMLS
• 2022-05-12 Listed $290,000 MARMLS
• 2012-07-13 Sold (MLS) $60,000 MARMLS
• 2005-06-24 Sold (Public Records) $227,000 Public Records
• 2002-09-13 Sold (Public Records) $93,000 Public Records
• 1997-11-05 Sold (Public Records) $82,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $3,419 · -9.7% YoY. Source: county tax records.