16919 N Bay Rd #911 · Sunny Isles Beach, FL 33160

$349,900

2 bd · 2.0 ba · 894 sqft · Condo public records · 99 Days on market

Built 1979 $684/mo HOA · 17% of rent

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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 +19.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +6.0/10.0
• 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

LOCATION, WALKABILITY & TURNKEY CONDITION. Fully renovated 2/2 residence in a gated, all-ages community just steps from the ocean, shops, and daily conveniences—no car needed. Unit completely updated from top to bottom with new tile flooring, kitchen, appliances, bathrooms, doors, fans, and finishes throughout. Bright, open layout with abundant natural light. The building has also undergone renovations and is well maintained. Rental allowed immediately, making it ideal for end-users or investors. Enjoy resort-style amenities: a heated pool, jacuzzi, brand-new gym & sauna, 2 tennis courts, basketball, BBQ area, library, 24/7 security. Up to 3 parking spaces. Prime location

Key facts

• Gated community
• Fully renovated
• Updated kitchen

Tags

• GATED COMMUNITY
• FULLY RENOVATED
• UPDATED KITCHEN
• RESORT STYLE AMENITIES
• HEATED POOL
• BRAND NEW GYM

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include pool, fitness center, clubhouse, basketball court, sauna, picnic area, library, parking, internet included, security, and maintenance; Association covers maintenance of grounds and structure, pest control, sewer, trash, common areas, elevator, and pool service

Exterior

• Parking: Assigned parking; 1-car garage with garage door opener; 1 covered parking space; Guest parking
• Security: Fire alarm; Secured garage/parking; Security guard; Key card entry; Security fence; Security patrol
• Utilities: Water included in association; Sewer included in association; Trash service included in association; Elevator service included in association
• Home design: Condominium; 10-story building; Resale unit
• Construction: Block/CBS construction
• Exterior features: Fenced

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms (main level)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen island
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-55 ($-656/yr) — negative.
• To cash-flow at today's rent, offer at most $340k (2.8% below list).
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,943/mo this rent would consume 71% 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 $4k of equity ($2k loan paydown + $2k 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.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $350k implies a 714% gain — meaningful room to come down on a strong offer.

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 $318,409 (9.0% 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 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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. 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: 1.13% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 7.4

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: -2.6%
• Equity multiple: 0.87×
• Total profit: $-12,450
• Equity at exit: $110,916

10-year hold

• IRR: 1.1%
• Equity multiple: 1.12×
• Total profit: $11,285
• Equity at exit: $141,008

Cash invested: $97,972 (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: 1870
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,943 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$684
• Vacancy / Maint / Mgmt: −$828
• Net cashflow: $-55

Break-even live

Break-even rent $4,012

Max offer price $340,236

Occupancy floor 96%

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $684 · $8,208/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $349,900 Active 99 DOM
2. 2026-06-17
   days on market $349,900 Active 98 DOM
3. 2026-06-16
   days on market $349,900 Active 97 DOM
4. 2026-06-15
   price $349,900 Active 96 DOM
5. 2026-06-15
   days on market $359,900 Active 96 DOM
6. 2026-06-13
   days on market $359,900 Active 94 DOM
7. 2026-06-09
   days on market $359,900 Active 90 DOM
8. 2026-06-08
   days on market $359,900 Active 89 DOM
9. 2026-06-08
   price $359,900 Active 88 DOM
10. 2026-06-07
    days on market $369,990 Active 88 DOM
11. 2026-06-04
    days on market $369,990 Active 85 DOM
12. 2026-06-03
    days on market $369,990 Active 84 DOM
13. 2026-06-02
    days on market $369,990 Active 83 DOM
14. 2026-06-01
    days on market $369,990 Active 82 DOM
15. 2026-05-31
    days on market $369,990 Active 81 DOM
16. 2026-05-01
    price $369,990
17. 2025-12-25
    listed $375,000 Active
18. 2025-12-24
    historical
19. 2025-03-27
    listed $375,000
20. 1988-06-01
    soldstatus $43,000

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $2,904 · $242/mo
• Expected delta: +$1,964/yr (+$164/mo · 208.9%)

ⓘ 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: $47,315
• − Mortgage interest: −$19,600
• − Property taxes: −$940
• − Insurance: −$6,868
• − Repairs & maintenance: −$3,785
• − Management: −$3,785
• − HOA: −$8,208
• − Depreciation: −$10,179
• Taxable loss: −$6,051
• Est. tax savings @ 24.0%: +$1,452
• After-tax cash flow: $796/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

+760.4% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $369,990 Beaches MLS
• 2025-12-25 Listed $375,000 Beaches MLS
• 2025-12-24 Listing Removed — Beaches MLS
• 2025-03-27 Listed $375,000 Beaches MLS
• 1988-06-01 Sold (Public Records) $43,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $940 · +3.7% YoY. Source: county tax records.