16220 NW 2nd Ave #213 · Golden Glades, FL 33169

$190,000

2 bd · 2.0 ba · 1,225 sqft · Condo public records · 270 Days on market

Built 1982 $583/mo HOA · 26% 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 +10.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

Key facts

• Wrap-around balcony
• Large living room
• Corner unit

Tags

• CORNER UNIT
• OPEN KITCHEN
• LARGE LIVING ROOM
• LAUNDRY INSIDE
• WRAP-AROUND BALCONY
• EXCELLENT LOCATION

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee covers parking, sewer, and trash; Building has elevator(s)

Exterior

• Parking: Assigned parking; Guest parking available; 1 covered/assigned space (garage)
• Security: Complex fenced
• Utilities: Central heating and cooling
• Home design: Attached property; Entry on level 2; Total of 5 stories
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Complex is fenced

Interior

• Kitchen: Microwave; Refrigerator; Self-cleaning oven; Trash compactor
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast area; Eat-in kitchen; Family/dining room; Living/dining room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (10.3% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 3.6% in Golden Glades — 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 74/100 on livability (#281 in FL, #4,513 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+, health & safety B+; Watch: employment D, amenities 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: Linda Lentin K-8 Center (math 27% / reading 36%, grade F, #1,841 of 2,144 statewide, top 86%, 674 students, 76% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-16 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 238 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 270 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $190k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: moderate flood risk; 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 $167,200 (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 270 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 5.59%
• Cash-on-cash: -2.50%
• DSCR: 0.89
• GRM: 7.0

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: -25.3%
• Equity multiple: 0.17×
• Total profit: $-44,071
• Equity at exit: $28,330

10-year hold

• IRR: -45.9%
• Equity multiple: -0.34×
• Total profit: $-71,430
• Equity at exit: $16,428

Cash invested: $53,200 (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 33169

• Home prices YoY: -20.6%
• Rents YoY: -1.6%
• Active inventory: 238
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,255 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$234 /mo · $2,808/yr
• Insurance: −$79
• HOA: −$583
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-111

Break-even live

Break-even rent $2,396

Max offer price $170,407

Occupancy floor 100%

Sensitivity live

Price	-10% $-3	-5% $-57	+0% $-111	+5% $-165	+10% $-218
Rent	-10% $-289	-5% $-200	+0% $-111	+5% $-22	+10% $67
Rate	-1.0pp $-15	-0.5pp $-63	base $-111	+0.5pp $-160	+1.0pp $-210

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $583 · $6,996/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $190,000 Active 270 DOM
2. 2026-06-18
   days on market $190,000 Active 267 DOM
3. 2026-06-17
   days on market $190,000 Active 266 DOM
4. 2026-06-16
   days on market $190,000 Active 265 DOM
5. 2026-06-15
   days on market $190,000 Active 264 DOM
6. 2026-06-13
   days on market $190,000 Active 262 DOM
7. 2026-06-09
   days on market $190,000 Active 258 DOM
8. 2026-06-08
   days on market $190,000 Active 257 DOM
9. 2026-06-08
   days on market $190,000 Active 256 DOM
10. 2026-06-04
    days on market $190,000 Active 253 DOM
11. 2026-06-03
    days on market $190,000 Active 252 DOM
12. 2026-06-02
    days on market $190,000 Active 251 DOM
13. 2026-06-01
    days on market $190,000 Active 250 DOM
14. 2026-05-31
    days on market $190,000 Active 249 DOM
15. 2026-05-07
    price $190,000
16. 2025-09-25
    historical $2,100
17. 2025-09-24
    listed $210,000 Active
18. 2025-06-02
    price $2,100
19. 2025-05-27
    listed $2,200
20. 2015-05-18
    soldstatus $67,000 Sold 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

21. 2015-04-02
    status Pending 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

22. 2015-03-04
    status Active 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

23. 2015-01-28
    status Pending 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

24. 2014-12-31
    price $69,900 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

25. 2014-11-26
    listed $79,900 Active 395-char remark

    Show marketing remark (395 chars)

    Freshly painted 2/2 Home * New Dishwasher, Microwave & Stove * Easy access to all main roads including I-95, Turnpike & more. Walking distance to shopping, dining, and entertainment * NO INSURANCE IN THE BUILDING. CASH ONLY * Property is sold without warranties. Information is deemed reliable but not guaranteed. BUYER is responsible for verifying all information prior to closing.

26. 2004-11-29
    soldstatus $95,000
27. 2002-10-21
    soldstatus $55,000
28. 1984-01-01
    soldstatus $78,000
29. 1983-12-01
    soldstatus $78,000

ⓘ 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: $2,808 · $234/mo
• Projected year-2 tax: $2,808 · $234/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $27,063
• − Mortgage interest: −$10,643
• − Property taxes: −$2,808
• − Insurance: −$950
• − Repairs & maintenance: −$2,165
• − Management: −$2,165
• − HOA: −$6,996
• − Depreciation: −$5,527
• Taxable loss: −$4,191
• Est. tax savings @ 24.0%: +$1,006
• After-tax cash flow: $-325/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 — Golden Glades

• Score: 74/100
• State rank: #281
• US rank: #4513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Golden Glades, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,702
• Household income: $62,562
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2480.0

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: Predominantly Black (76%)
• Race & ethnicity: Black 76% Hispanic / Latino 17% Two or more races 10% White 4%
• Hispanic origin (detail): Puerto Rican 2% Cuban 6% Dominican 2%
• Common ancestry: Hispanic 18%
• Foreign-born: 35% · Canada, Jamaica, Dominican Republic
• Languages at home: 62% English-only · French/Haitian/Cajun 19% Spanish 16%

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: ▼ -135.91%
• Current HPI: 524.9052
• Rent YoY: ▼ -1.61%
• 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

+143.6% since first listed

15 events — show timeline

• 2026-05-07 Price Changed $190,000 MARMLS
• 2025-09-25 Rental Removed $2,100 MARMLS
• 2025-09-24 Listed $210,000 MARMLS
• 2025-06-02 Price Changed $2,100 MARMLS
• 2025-05-27 Listed for Rent $2,200 MARMLS
• 2015-05-18 Sold (MLS) $67,000 MARMLS
• 2015-04-02 Pending — MARMLS
• 2015-03-04 Relisted — MARMLS
• 2015-01-28 Pending — MARMLS
• 2014-12-31 Price Changed $69,900 MARMLS
• 2014-11-26 Listed $79,900 MARMLS
• 2004-11-29 Sold (Public Records) $95,000 Public Records
• 2002-10-21 Sold (Public Records) $55,000 Public Records
• 1984-01-01 Sold (Public Records) $78,000 Public Records
• 1983-12-01 Sold (Public Records) $78,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,808 · +9.9% YoY. Source: county tax records.