16919 N Bay Rd #117 · Sunny Isles Beach, FL 33160

$199,900

1 bd · 1.0 ba · 640 sqft · Condo public records · 553 Days on market

Built 1979 $480/mo HOA · 14% 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
• 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

This is a Fannie Mae Homepath Property! Buy for as little as 3% down! This property qualifies for Homepath Mortgage Financing and Homepath Renovation Mortgage Financing!! Great opportunity! Unit in situated in the heart of Sunny Isles! Unit features tile floor through out! Special Assessment in place for the next 5 years, 274/M. Click SHOW ASSIST for more information!!

Key facts

• Steady rental income
• $480 HOA
• Garage

Tags

• STEADY RENTAL INCOME
• PRIME INVESTMENT OPPORTUNITY
• SHORT WALK FROM THE BEACH

Property features AI

Finance

• Financial info: Pets are not allowed
• HOA & community: Monthly association fee of $469; Association fees cover amenities, common areas, and structure maintenance; Association amenities include laundry, pool, and spa/hot tub

Exterior

• Parking: Covered parking; 1 covered garage space; Total of 1 garage space; Two or more parking spaces available
• Security: Key card entry; Fenced complex
• Utilities: Electric heating and cooling
• Home design: Attached property; 10-story building; Entry on level 1
• Construction: Block construction; Effective year built
• Exterior features: Association pool; Association spa/hot tub; Complex is fenced; Key card entry

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 $3,543/mo this rent would consume 63% 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 $2k of equity ($1k 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.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 553 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask is 11006% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $155k; 29% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 553 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 1979 — 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 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?
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: 1.77% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.20%
• DSCR: 1.90
• GRM: 4.7

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: 9.4%
• Equity multiple: 1.45×
• Total profit: $25,415
• Equity at exit: $63,367

10-year hold

• IRR: 11.8%
• Equity multiple: 2.26×
• Total profit: $70,569
• Equity at exit: $80,559

Cash invested: $55,972 (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: 4.7×

Monthly cashflow live

• Estimated rent: $3,543 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$245 /mo · $2,946/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$480
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $516

Break-even live

Break-even rent $2,891

Max offer price $199,900

Occupancy floor 80%

Sensitivity live

Price	-10% $629	-5% $572	+0% $516	+5% $459	+10% $403
Rent	-10% $236	-5% $376	+0% $516	+5% $656	+10% $796
Rate	-1.0pp $616	-0.5pp $567	base $516	+0.5pp $464	+1.0pp $411

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $480 · $5,760/yr
• ⚠ Special-assessment mentions:

  …Financing!! Great opportunity! Unit in situated in the heart of Sunny Isles! Unit features tile floor through out! Special Assessment in place for the next 5 years, 274/M. Click SHOW ASSIST for more information!!

Listing history 32 events

1. 2026-06-18
   days on market $199,900 Active 553 DOM
2. 2026-06-17
   days on market $199,900 Active 552 DOM
3. 2026-06-16
   days on market $199,900 Active 551 DOM
4. 2026-06-15
   days on market $199,900 Active 550 DOM
5. 2026-06-13
   days on market $199,900 Active 548 DOM
6. 2026-06-09
   days on market $199,900 Active 544 DOM
7. 2026-06-08
   days on market $199,900 Active 543 DOM
8. 2026-06-08
   days on market $199,900 Active 542 DOM
9. 2026-06-04
   days on market $199,900 Active 539 DOM
10. 2026-06-03
    days on market $199,900 Active 538 DOM
11. 2026-06-02
    days on market $199,900 Active 537 DOM
12. 2026-06-01
    days on market $199,900 Active 536 DOM
13. 2026-05-31
    days on market $199,900 Active 535 DOM
14. 2026-05-15
    price $199,900
15. 2026-03-28
    price $1,725
16. 2026-03-11
    price $1,750
17. 2026-02-10
    listed $1,800
18. 2025-12-01
    price $214,900
19. 2025-09-30
    price $224,900
20. 2025-09-03
    price $244,900
21. 2025-03-06
    price $249,000
22. 2025-02-12
    price $274,900
23. 2024-12-12
    listed $279,900 Active
24. 2017-05-29
    historical
25. 2017-03-20
    price $169,900
26. 2017-03-07
    listed $179,900 Active
27. 2013-11-06
    soldstatus $155,000
28. 2013-04-24
    soldstatus $100,000 Sold 372-char remark

    Show marketing remark (372 chars)

    This is a Fannie Mae Homepath Property! Buy for as little as 3% down! This property qualifies for Homepath Mortgage Financing and Homepath Renovation Mortgage Financing!! Great opportunity! Unit in situated in the heart of Sunny Isles! Unit features tile floor through out! Special Assessment in place for the next 5 years, 274/M. Click SHOW ASSIST for more information!!

29. 2003-06-20
    soldstatus $105,000
30. 1998-12-29
    soldstatus $49,500
31. 1990-11-20
    soldstatus $32,500
32. 1979-02-01
    soldstatus $40,000

ⓘ 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: $2,946 · $245/mo
• Projected year-2 tax: $2,946 · $245/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 · 28 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: $42,522
• − Mortgage interest: −$11,198
• − Property taxes: −$2,946
• − Insurance: −$6,118
• − Repairs & maintenance: −$3,402
• − Management: −$3,402
• − HOA: −$5,760
• − Depreciation: −$5,815
• Taxable income: $3,882
• Est. tax owed @ 24.0%: −$932
• After-tax cash flow: $5,257/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

+399.8% since first listed

19 events — show timeline

• 2026-05-15 Price Changed $199,900 MARMLS
• 2026-03-28 Price Changed $1,725 MARMLS
• 2026-03-11 Price Changed $1,750 MARMLS
• 2026-02-10 Listed for Rent $1,800 MARMLS
• 2025-12-01 Price Changed $214,900 MARMLS
• 2025-09-30 Price Changed $224,900 MARMLS
• 2025-09-03 Price Changed $244,900 MARMLS
• 2025-03-06 Price Changed $249,000 MARMLS
• 2025-02-12 Price Changed $274,900 MARMLS
• 2024-12-12 Listed $279,900 MARMLS
• 2017-05-29 Listing Removed — Beaches MLS
• 2017-03-20 Price Changed $169,900 Beaches MLS
• 2017-03-07 Listed $179,900 Beaches MLS
• 2013-11-06 Sold (Public Records) $155,000 Public Records
• 2013-04-24 Sold (MLS) $100,000 MARMLS
• 2003-06-20 Sold (Public Records) $105,000 Public Records
• 1998-12-29 Sold (Public Records) $49,500 Public Records
• 1990-11-20 Sold (Public Records) $32,500 Public Records
• 1979-02-01 Sold (Public Records) $40,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,946 · +1.9% YoY. Source: county tax records.