17021 N Bay Rd #625 · Sunny Isles Beach, FL 33160

$205,500

1 bd · 1.0 ba · 640 sqft · Condo public records · 32 Days on market

Built 1979 $606/mo HOA · 17% 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

A beauty on a perfect location! Remodeled Kitchen, Remodeled Bathroom, Tile Floor Through-out, A/C unit changed in late 2010, Beautiful Views, Plenty of Amenities (Tennis, Pool, Gym, Playgrounds, Bike/Jog trail, Sauna and More) Walk to shopping Plazas and Restaurants, 1 block to beautiful beaches. Fulfill your dream of leaving close to the beach! Perfect to live, as a vacation apartment or as an investment (rents quickly) Low HOA! Call us today because it will go fast!

Key facts

• Gated community
• Updated gym
• $606 HOA

Tags

• GATED COMMUNITY
• TENNIS AND BASKETBALL COURT
• UPDATED GYM
• CHILDREN'S PLAYGROUND
• WALKING TO SHOPPING PLAZA
• WALKING TO RESTAURANTS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers management, common areas, hot water, laundry, grounds maintenance, parking, recreation facilities, sewer, security, trash and water; Community amenities include basketball court, laundry facilities, barbecue/picnic area, pool, tennis courts and elevators

Exterior

• Parking: Detached garage (1 space)
• Security: Complex fenced; Secured elevator; Intercom; Security guard
• Utilities: Water included in association; Sewer included in association; Hot water included in association; Trash included in association
• Home design: Condominium with property attached; 10-story building; Entry located on level 6
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Courtyard; Tennis courts; Heated pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood; Laminate; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $206k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $206k).
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: amenities A+, health & safety A+, crime 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.
• Zoned schools: Norman S. Edelcup/Sunny Isles Beach K-8 (math 68% / reading 69%, grade B+, #409 of 2,144 statewide, top 20%, 2,231 students, 30% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL) — zoned schools average 43% FRL vs 64% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 1879 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k 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 $58k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $108k; list at $206k implies a 90% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,335 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.72% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 4.8

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: 5.3%
• Equity multiple: 1.25×
• Total profit: $14,613
• Equity at exit: $65,142

10-year hold

• IRR: 7.9%
• Equity multiple: 1.84×
• Total profit: $48,406
• Equity at exit: $82,815

Cash invested: $57,540 (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: 1879
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,543 medium
• Mortgage (P&I): −$1,078
• Tax from tax record: −$258 /mo · $3,099/yr
• Insurance: −$86
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$606
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $345

Break-even live

Break-even rent $3,106

Max offer price $205,500

Occupancy floor 85%

Sensitivity live

Price	-10% $462	-5% $403	+0% $345	+5% $287	+10% $229
Rent	-10% $65	-5% $205	+0% $345	+5% $485	+10% $625
Rate	-1.0pp $449	-0.5pp $398	base $345	+0.5pp $292	+1.0pp $238

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: $51,375
• Closing costs: $6,165
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $606 · $7,272/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $205,500 Active 32 DOM
2. 2026-06-18
   days on market $205,500 Active 29 DOM
3. 2026-06-17
   days on market $205,500 Active 28 DOM
4. 2026-06-16
   days on market $205,500 Active 27 DOM
5. 2026-06-15
   days on market $205,500 Active 26 DOM
6. 2026-06-13
   days on market $205,500 Active 24 DOM
7. 2026-06-09
   days on market $205,500 Active 20 DOM
8. 2026-06-08
   days on market $205,500 Active 19 DOM
9. 2026-06-07
   days on market $205,500 Active 18 DOM
10. 2026-06-04
    days on market $205,500 Active 15 DOM
11. 2026-06-03
    days on market $205,500 Active 14 DOM
12. 2026-06-02
    days on market $205,500 Active 13 DOM
13. 2026-06-01
    days on market $205,500 Active 12 DOM
14. 2026-05-31
    days on market $205,500 Active 11 DOM
15. 2026-05-20
    listed $207,500 Active
16. 2026-05-16
    price $1,690
17. 2026-05-15
    historical
18. 2026-05-13
    listed $1,750
19. 2026-05-09
    listed $207,500 Active
20. 2012-10-26
    soldstatus $108,000
21. 2012-10-25
    soldstatus $108,000 474-char remark

    Show marketing remark (474 chars)

    A beauty on a perfect location! Remodeled Kitchen, Remodeled Bathroom, Tile Floor Through-out, A/C unit changed in late 2010, Beautiful Views, Plenty of Amenities (Tennis, Pool, Gym, Playgrounds, Bike/Jog trail, Sauna and More) Walk to shopping Plazas and Restaurants, 1 block to beautiful beaches. Fulfill your dream of leaving close to the beach! Perfect to live, as a vacation apartment or as an investment (rents quickly) Low HOA! Call us today because it will go fast!

22. 2012-08-15
    listed $125,000 474-char remark

    Show marketing remark (474 chars)

    A beauty on a perfect location! Remodeled Kitchen, Remodeled Bathroom, Tile Floor Through-out, A/C unit changed in late 2010, Beautiful Views, Plenty of Amenities (Tennis, Pool, Gym, Playgrounds, Bike/Jog trail, Sauna and More) Walk to shopping Plazas and Restaurants, 1 block to beautiful beaches. Fulfill your dream of leaving close to the beach! Perfect to live, as a vacation apartment or as an investment (rents quickly) Low HOA! Call us today because it will go fast!

23. 1993-07-23
    soldstatus $26,000
24. 1990-07-31
    soldstatus $35,500

ⓘ 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: $3,099 · $258/mo
• Projected year-2 tax: $3,099 · $258/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 7/10 Severe FEMA zone AE · 92% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $42,522
• − Mortgage interest: −$11,511
• − Property taxes: −$3,099
• − Insurance: −$6,146
• − Repairs & maintenance: −$3,402
• − Management: −$3,402
• − HOA: −$7,272
• − Depreciation: −$5,978
• Taxable income: $1,712
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $3,732/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
• City population: 34,147
• 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

+484.5% since first listed

10 events — show timeline

• 2026-05-20 Listed $207,500 MARMLS
• 2026-05-16 Price Changed $1,690 MARMLS
• 2026-05-15 Listing Removed — MARMLS
• 2026-05-13 Listed for Rent $1,750 MARMLS
• 2026-05-09 Listed $207,500 MARMLS
• 2012-10-26 Sold (Public Records) $108,000 Public Records
• 2012-10-25 Sold (MLS) $108,000 Beaches MLS
• 2012-08-15 Listed $125,000 Beaches MLS
• 1993-07-23 Sold (Public Records) $26,000 Public Records
• 1990-07-31 Sold (Public Records) $35,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,099 · +1.9% YoY. Source: county tax records.