2841 NE 163rd St #605 · North Miami Beach, FL 33160

$269,900

1 bd · 1.0 ba · 790 sqft · Condo public records · 83 Days on market

Built 1969 $667/mo HOA · 20% of rent ↓ 10% since listing

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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 +14.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Appreciation +5.3/10.0
• DSCR +4.6/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy waterfront living in this well-maintained 1-bedroom, 1.5-bath condo in the heart of North Miami Beach. Located on the 6th floor, this unit offers beautiful water views, plenty of natural light, and a spacious, functional layout. The open living and dining area leads to a private balcony, perfect for relaxing or entertaining. The kitchen provides ample cabinet space, while the generously sized bedroom includes great storage and an en-suite bath, plus a convenient half bath for guests. Polished concrete ready for the next owner to choose tile or an alternate flooring with sound proofing. Secured building with amenities including a pool, fitness center, and assigned parking. Ideally loca

Key facts

• Water views
• Private balcony
• Secured building

Tags

• WATERFRONT LIVING
• WATER VIEWS
• PRIVATE BALCONY
• AMPLE CABINET SPACE
• SECURED BUILDING
• POOL

Property features AI

Finance

• Financial info: No pets allowed
• HOA & community: Monthly association fee of $667; Association covers management, amenities, common areas, electricity, hot water, structure maintenance, pest control, and pool(s); Community amenities include a clubhouse and elevators

Exterior

• Parking: One parking space
• Security: Intercom; Key card entry
• Utilities: Central heating and cooling
• Home design: Attached property; 6th floor entry level; 12-story building; Resale unit
• Exterior features: Balcony (open); Bay front waterfront; Canal access; Has a view

Interior

• Bedrooms: Bedroom located on main level
• Flooring: Concrete
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; First floor entry; Concrete flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-347 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (22.7% below list).
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $209k (22.7% below list) — sets the bar for cash-flow.
• Cap rate 6.6% vs local median 5.2% in North Miami Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% 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).
• 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).
• At $3,315/mo this rent would consume 59% 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 $3k of equity ($2k 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.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,637 (22.7% 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 83 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — 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. 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?
10. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
11. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
12. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
13. 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.
14. 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.
15. 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: 1.23% ✓
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 6.8

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: -8.1%
• Equity multiple: 0.61×
• Total profit: $-29,235
• Equity at exit: $85,556

10-year hold

• IRR: -4.2%
• Equity multiple: 0.55×
• Total profit: $-34,241
• Equity at exit: $108,768

Cash invested: $75,572 (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: 6.8×

Monthly cashflow live

• Estimated rent: $3,315 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$344 /mo · $4,130/yr
• Insurance: −$112
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$667
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $-347

Break-even live

Break-even rent $3,754

Max offer price $208,637

Occupancy floor —

Sensitivity live

Price	-10% $-194	-5% $-270	+0% $-347	+5% $-423	+10% $-500
Rent	-10% $-609	-5% $-478	+0% $-347	+5% $-216	+10% $-85
Rate	-1.0pp $-211	-0.5pp $-278	base $-347	+0.5pp $-417	+1.0pp $-488

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $667 · $8,004/yr
• Likely covers: waterpoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $269,900 Active 83 DOM
2. 2026-06-18
   days on market $269,900 Active 80 DOM
3. 2026-06-17
   days on market $269,900 Active 79 DOM
4. 2026-06-16
   days on market $269,900 Active 78 DOM
5. 2026-06-15
   days on market $269,900 Active 77 DOM
6. 2026-06-13
   days on market $269,900 Active 75 DOM
7. 2026-06-09
   days on market $269,900 Active 71 DOM
8. 2026-06-08
   days on market $269,900 Active 70 DOM
9. 2026-06-07
   days on market $269,900 Active 69 DOM
10. 2026-06-04
    days on market $269,900 Active 66 DOM
11. 2026-06-03
    days on market $269,900 Active 65 DOM
12. 2026-06-02
    days on market $269,900 Active 64 DOM
13. 2026-06-01
    days on market $269,900 Active 63 DOM
14. 2026-05-31
    days on market $269,900 Active 62 DOM
15. 2026-03-30
    listed $269,900 Active
16. 2025-12-31
    historical
17. 2025-09-23
    status Active
18. 2025-09-23
    price $279,200
19. 2025-09-23
    historical $2,300
20. 2025-09-17
    listed $2,300
21. 2025-05-07
    historical $2,300
22. 2025-04-21
    listed $2,300
23. 2025-04-08
    historical Active Under Contract
24. 2025-02-28
    listed $299,200 Active

ⓘ 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: $4,130 · $344/mo
• Projected year-2 tax: $4,130 · $344/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 9/10 Extreme FEMA zone AE · 99% 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: $39,779
• − Mortgage interest: −$15,119
• − Property taxes: −$4,130
• − Insurance: −$6,468
• − Repairs & maintenance: −$3,182
• − Management: −$3,182
• − HOA: −$8,004
• − Depreciation: −$7,852
• Taxable loss: −$8,158
• Est. tax savings @ 24.0%: +$1,958
• After-tax cash flow: $-2,204/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): 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

-9.8% since first listed

10 events — show timeline

• 2026-03-30 Listed $269,900 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-09-23 Relisted — MARMLS
• 2025-09-23 Price Changed $279,200 MARMLS
• 2025-09-23 Rental Removed $2,300 GFLMLS
• 2025-09-17 Listed for Rent $2,300 GFLMLS
• 2025-05-07 Rental Removed $2,300 GFLMLS
• 2025-04-21 Listed for Rent $2,300 GFLMLS
• 2025-04-08 Contingent — MARMLS
• 2025-02-28 Listed $299,200 MARMLS

Property tax history

+15.0%/yr

Latest (2025): $4,130 · +4.8% YoY. Source: county tax records.