16150 NE 21st Ave Unit 1B · North Miami Beach, FL 33162

$170,000

2 bd · 1.0 ba · 773 sqft · SingleFamily · 334 Days on market

Built 1970 $300/mo HOA · 8% 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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-Bedroom Condo in North Miami Beach Discover this inviting 2-bedroom, 1-bathroom condo in a prime North Miami Beach location. Featuring tile flooring throughout, this first-floor unit offers easy access and convenience. Located just minutes from Sunny Isles Beach, top universities, and major shopping centers, this condo provides an ideal balance of comfort and accessibility. The community includes a laundry facility for added convenience. Investor-friendly property with great potential! Don’t miss this opportunity—schedule a viewing today!

Key facts

• First-floor unit
• Tile flooring
• Laundry facility

Tags

• TILE FLOORING
• FIRST-FLOOR UNIT
• LAUNDRY FACILITY
• NORTH MIAMI BEACH LOCATION
• MINUTES FROM SUNNY ISLES BEACH

Property features AI

Finance

• Other: Pets conditionally allowed with possible restrictions
• HOA & community: Monthly association fee of $300; Association covers grounds maintenance and parking

Exterior

• Parking: One parking space
• Security: Closed circuit camera(s); Smoke detector(s)
• Home design: 2-story property; Entry on level 1; Property is attached
• Construction: Block construction; Resale property
• Exterior features: Closed circuit camera security; Smoke detectors

Interior

• Kitchen: Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; First-floor entry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 5.2% in North Miami 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 82/100 on livability (#71 in FL, #1,177 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime 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 soft (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,683/mo this rent would consume 73% of the median local household income ($61k/yr) (locally 2509% 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 334 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask is 10592% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 334 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 16.42%
• Cash-on-cash: 36.16%
• DSCR: 2.61
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $340,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15770 NE 18th Ct	0.38mi	2/1.0	830 (+7%)	3mo	$365,000	$440	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 2.12×
• Total profit: $53,262
• Equity at exit: $25,348

10-year hold

• IRR: 33.6%
• Equity multiple: 3.59×
• Total profit: $123,289
• Equity at exit: $14,698

Cash invested: $47,600 (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 33162

• Rents YoY: -1.6%
• Active inventory: 284
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $3,683 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$300
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $1,434

Break-even live

Break-even rent $1,867

Max offer price $170,000

Occupancy floor 56%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $300 · $3,600/yr

Listing history 26 events

1. 2026-06-18
   days on market $170,000 Active 334 DOM
2. 2026-06-17
   days on market $170,000 Active 333 DOM
3. 2026-06-16
   days on market $170,000 Active 332 DOM
4. 2026-06-15
   days on market $170,000 Active 331 DOM
5. 2026-06-13
   days on market $170,000 Active 329 DOM
6. 2026-06-09
   days on market $170,000 Active 325 DOM
7. 2026-06-08
   days on market $170,000 Active 324 DOM
8. 2026-06-08
   days on market $170,000 Active 323 DOM
9. 2026-06-04
   days on market $170,000 Active 320 DOM
10. 2026-06-03
    days on market $170,000 Active 319 DOM
11. 2026-06-02
    days on market $170,000 Active 318 DOM
12. 2026-06-01
    days on market $170,000 Active 317 DOM
13. 2026-05-31
    days on market $170,000 Active 316 DOM
14. 2025-12-22
    historical $1,590
15. 2025-10-20
    listed $1,590
16. 2025-10-19
    historical $1,590
17. 2025-10-07
    listed $1,590
18. 2025-10-07
    historical $1,700
19. 2025-08-24
    listed $1,700
20. 2025-07-19
    listed $170,000 Active
21. 2025-06-10
    historical
22. 2025-05-10
    historical
23. 2025-05-10
    listed $170,000 Active
24. 2025-05-01
    historical
25. 2025-03-21
    listed $170,000 Active
26. 2025-03-21
    listed $170,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 54% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $44,192
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$3,535
• − Management: −$3,535
• − HOA: −$3,600
• − Depreciation: −$4,945
• Taxable income: $15,653
• Est. tax owed @ 24.0%: −$3,757
• After-tax cash flow: $13,457/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 Beach

• Score: 82/100
• State rank: #71
• US rank: #1177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,324
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% 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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

-99.1% since first listed

13 events — show timeline

• 2025-12-22 Rental Removed $1,590 MARMLS
• 2025-10-20 Listed for Rent $1,590 MARMLS
• 2025-10-19 Rental Removed $1,590 MARMLS
• 2025-10-07 Listed for Rent $1,590 MARMLS
• 2025-10-07 Rental Removed $1,700 MARMLS
• 2025-08-24 Listed for Rent $1,700 MARMLS
• 2025-07-19 Listed $170,000 MARMLS
• 2025-06-10 Listing Removed — MARMLS
• 2025-05-10 Listed $170,000 MARMLS
• 2025-05-10 Listing Removed — MARMLS
• 2025-05-01 Listing Removed — MARMLS
• 2025-03-21 Listed $170,000 MARMLS
• 2025-03-21 Listed $170,000 MARMLS