1800 N Bayshore Dr #1604 · Miami, FL 33132

$365,000

1 bd · 1.0 ba · 842 sqft · Condo public records · 49 Days on market

Built 2007 $652/mo HOA · 13% 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 +22.9/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

FABULOUS OPPORTUNITY TO OWN A 1BE/1BA CONDO FEATURING 644 SQFT GOOD LOCATION CENTRALLY LOCATED CLOSE TO RESTAURANTS, SUPERMARKETS AND MUCH MORE!

Key facts

• Resort style pool
• New flooring
• Natural light

Tags

• UPDATED RESIDENCE
• NATURAL LIGHT
• NEW FLOORING
• OPEN LAYOUT
• FULL SERVICE BUILDING
• RESORT STYLE POOL

Property features AI

Finance

• Other: Association pool is heated
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association fee includes amenities, cable TV, parking, security, and water; Association amenities include billiard room, fitness center, pool, and spa/hot tub

Exterior

• Parking: Detached garage with 1 covered space (1-car garage)
• Security: Key card entry; Secured lobby; Fire sprinkler system
• Utilities: Association-managed heated pool; Association-managed spa
• Home design: Condominium (attached property); 40-story building; Entry located at 1604
• Construction: Block construction
• Exterior features: Balcony; Open balcony; Security/high-impact doors

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Handicap access; Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $365k.

Deal economics

• At list price, monthly cash flow is $-30 ($-362/yr) — negative.
• To cash-flow at today's rent, offer at most $360k (1.5% below list).
• Meets the 1% rule at list price ($5k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.9% in 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, 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; 869 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,851/mo this rent would consume 53% of the median local household income ($109k/yr) (locally 2260% 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 (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 49 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 12486% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $160k; list at $365k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $354,050 (3.0% 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 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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?
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: 1.33% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.52% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.38×
• Total profit: $-63,674
• Equity at exit: $62,174

10-year hold

• IRR: -16.1%
• Equity multiple: 0.12×
• Total profit: $-90,262
• Equity at exit: $45,036

Cash invested: $102,200 (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 33132

• Home prices YoY: -0.8%
• Rents YoY: 0.7%
• Active inventory: 869
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $4,851 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$475 /mo · $5,703/yr
• Insurance: −$152
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$652
• Vacancy / Maint / Mgmt: −$1,019
• Net cashflow: $-30

Break-even live

Break-even rent $4,889

Max offer price $359,664

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	2d	13	0.74mi
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$3,506	$1.32	2d	19	1.05mi

HOA detail condo

• Monthly dues: $652 · $7,824/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   price $365,000 Active 49 DOM
2. 2026-06-18
   days on market $369,000 Active 49 DOM
3. 2026-06-17
   days on market $369,000 Active 48 DOM
4. 2026-06-16
   days on market $369,000 Active 47 DOM
5. 2026-06-15
   days on market $369,000 Active 46 DOM
6. 2026-06-13
   days on market $369,000 Active 44 DOM
7. 2026-06-09
   days on market $369,000 Active 40 DOM
8. 2026-06-08
   days on market $369,000 Active 39 DOM
9. 2026-06-07
   days on market $369,000 Active 38 DOM
10. 2026-06-04
    days on market $369,000 Active 35 DOM
11. 2026-06-03
    days on market $369,000 Active 34 DOM
12. 2026-06-02
    pricedays on market $369,000 Active 33 DOM
13. 2026-06-01
    days on market $374,900 Active 32 DOM
14. 2026-05-31
    days on market $374,900 Active 31 DOM
15. 2026-05-19
    price $385,000
16. 2026-05-02
    listed $2,900
17. 2026-04-30
    listed $399,999 Active
18. 2010-12-11
    soldstatus $160,500 145-char remark

    Show marketing remark (145 chars)

    FABULOUS OPPORTUNITY TO OWN A 1BE/1BA CONDO FEATURING 644 SQFT GOOD LOCATION CENTRALLY LOCATED CLOSE TO RESTAURANTS, SUPERMARKETS AND MUCH MORE!

ⓘ 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: $5,703 · $475/mo
• Projected year-2 tax: $5,703 · $475/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 10/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 23 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,210
• − Mortgage interest: −$20,446
• − Property taxes: −$5,703
• − Insurance: −$9,853
• − Repairs & maintenance: −$4,657
• − Management: −$4,657
• − HOA: −$7,824
• − Depreciation: −$10,618
• Taxable loss: −$5,547
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $969/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 — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,253
• Household income: $109,109
• Rent vs Own: 74.3% rent · 25.7% own
• Severe rent burden: 2260.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 39% White 29% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 9% Dominican 2% Salvadoran 1%
• Common ancestry: Estonian 2% Scotch-Irish 2% Romanian 1%
• Foreign-born: 50% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 49% Other Indo-European 6% Other Asian/Pacific 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: ▼ -2.52%
• Current HPI: 294.3744
• Rent YoY: ▲ 0.74%
• 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

+139.9% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $385,000 MARMLS
• 2026-05-02 Listed for Rent $2,900 MARMLS
• 2026-04-30 Listed $399,999 MARMLS
• 2010-12-11 Sold (MLS) $160,500 MARMLS

Property tax history

+6.8%/yr

Latest (2025): $5,703 · +1.1% YoY. Source: county tax records.