17125 N Bay Rd #3601 · Sunny Isles Beach, FL 33160

$388,900

1 bd · 1.0 ba · 715 sqft · Condo public records · 121 Days on market

Built 2003 $453/mo HOA · 12% 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 +11.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• 1% rule +4.4/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• DSCR +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Introducing a remarkable penthouse apartment for sale at the Porto Bellagio in Sunny Isles Beach, FL. Situated on the 6th floor, this spacious and bright unit offers an unparalleled living experience. Immerse yourself in the luxurious amenities of the building, including a refreshing pool, a billiard table for entertainment, a well-equipped gym to maintain an active lifestyle, and a convenient business center for all your professional needs. Furthermore, the location of this apartment is truly excellent, providing easy access to the best that Sunny Isles Beach has to offer. Don't miss out on this extraordinary opportunity to own a stunning penthouse in a coveted location.

Key facts

• Business center
• Penthouse apartment
• Refreshing pool

Tags

• PENTHOUSE APARTMENT
• REFRESHING POOL
• BILLIARD TABLE
• WELL-EQUIPPED GYM
• BUSINESS CENTER
• EXCELLENT LOCATION

Property features AI

Finance

• Financial info: Pets allowed with size limit (more than 20 lbs allowed)
• HOA & community: Monthly association fee; Association amenities include billiard room, business center, fitness center, elevator(s), pool; Association fee covers amenities, common areas, parking, pool(s), recreation facilities, sewer, security, trash and water

Exterior

• Parking: One covered parking space; Garage with 1 car space
• Security: Complex fenced; Key card entry; Security guard
• Utilities: Electric water heater
• Home design: Unit on 6th floor; Updated/remodeled condition; Block construction; 6-story building
• Construction: Block construction
• Exterior features: Balcony; Open balcony/patio; Barbecue area; Fence; Exterior lighting; Heated pool

Interior

• Kitchen: Electric range; Microwave; Dishwasher
• Bedrooms: Bedroom located on main level
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Closet cabinetry; Kitchen island
• Laundry & utility: Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $-562 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $366k (6.0% below list).
• Recommended offer: $290k (25.5% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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: schools A+, amenities A+, health & safety 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.
• Market conditions: Rents flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,657/mo this rent would consume 65% 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 $5k of equity ($3k loan paydown + $2k 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 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 9y 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 $240k; list at $389k implies a 62% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $289,681 (25.5% 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 121 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.94% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• GRM: 8.9

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: -8.5%
• Equity multiple: 0.59×
• Total profit: $-44,320
• Equity at exit: $123,279

10-year hold

• IRR: -4.2%
• Equity multiple: 0.55×
• Total profit: $-49,504
• Equity at exit: $156,725

Cash invested: $108,892 (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: 1870
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,657 medium
• Mortgage (P&I): −$2,039
• Tax from tax record: −$370 /mo · $4,440/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$453
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $-562

Break-even live

Break-even rent $4,368

Max offer price $289,681

Occupancy floor —

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: $97,225
• Closing costs: $11,667
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $453 · $5,436/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $388,900 Active 121 DOM
2. 2026-06-17
   days on market $388,900 Active 120 DOM
3. 2026-06-16
   days on market $388,900 Active 119 DOM
4. 2026-06-15
   days on market $388,900 Active 118 DOM
5. 2026-06-13
   days on market $388,900 Active 116 DOM
6. 2026-06-09
   days on market $388,900 Active 112 DOM
7. 2026-06-08
   days on market $388,900 Active 111 DOM
8. 2026-06-07
   days on market $388,900 Active 110 DOM
9. 2026-06-04
   days on market $388,900 Active 107 DOM
10. 2026-06-03
    days on market $388,900 Active 106 DOM
11. 2026-06-02
    days on market $388,900 Active 105 DOM
12. 2026-06-01
    days on market $388,900 Active 104 DOM
13. 2026-05-31
    days on market $388,900 Active 103 DOM
14. 2026-05-08
    historical $2,350
15. 2026-04-26
    price $2,350
16. 2026-04-12
    price $2,400
17. 2026-03-20
    price $2,230
18. 2026-03-19
    price $2,235
19. 2026-03-02
    price $2,240
20. 2026-02-17
    listed $388,900 Active
21. 2026-02-15
    historical
22. 2026-01-31
    price $2,300
23. 2026-01-13
    price $2,350
24. 2026-01-07
    price $2,370
25. 2025-12-21
    price $2,380
26. 2025-12-03
    listed $2,400
27. 2025-11-23
    historical $2,450
28. 2025-11-06
    listed $2,450
29. 2024-05-05
    status Active
30. 2024-02-25
    status Active
31. 2023-10-26
    status Active
32. 2023-09-01
    status Active
33. 2023-06-15
    price $399,000
34. 2023-06-01
    price $406,000
35. 2023-05-12
    listed $410,000 Active
36. 2023-05-01
    historical
37. 2023-02-01
    listed $397,000 Active
38. 2023-02-01
    historical
39. 2023-01-29
    price $397,400
40. 2023-01-10
    price $397,500
41. 2022-12-12
    price $398,000
42. 2022-04-25
    listed $399,000 Active
43. 2022-04-12
    historical
44. 2022-04-11
    price $399,000
45. 2022-03-10
    price $383,000
46. 2022-02-06
    price $384,000
47. 2021-08-13
    price $358,090
48. 2021-08-06
    price $359,000
49. 2021-04-20
    listed $332,000 Active
50. 2018-02-12
    soldstatus $240,000

ⓘ 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: $4,440 · $370/mo
• Projected year-2 tax: $4,440 · $370/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 ≥103°F today · 28 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: $43,889
• − Mortgage interest: −$21,784
• − Property taxes: −$4,440
• − Insurance: −$7,063
• − Repairs & maintenance: −$3,511
• − Management: −$3,511
• − HOA: −$5,436
• − Depreciation: −$11,313
• Taxable loss: −$13,170
• Est. tax savings @ 24.0%: +$3,161
• After-tax cash flow: $-3,579/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: 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

-100.0% since first listed

58 events — show timeline

• 2026-05-08 Rental Removed $2,350 MARMLS
• 2026-04-26 Price Changed $2,350 MARMLS
• 2026-04-12 Price Changed $2,400 MARMLS
• 2026-03-20 Price Changed $2,230 MARMLS
• 2026-03-19 Price Changed $2,235 MARMLS
• 2026-03-02 Price Changed $2,240 MARMLS
• 2026-02-17 Listed $388,900 MARMLS
• 2026-02-15 Listing Removed — MARMLS
• 2026-01-31 Price Changed $2,300 MARMLS
• 2026-01-13 Price Changed $2,350 MARMLS
• 2026-01-07 Price Changed $2,370 MARMLS
• 2025-12-21 Price Changed $2,380 MARMLS
• 2025-12-03 Listed for Rent $2,400 MARMLS
• 2025-11-23 Rental Removed $2,450 MARMLS
• 2025-11-06 Listed for Rent $2,450 MARMLS
• 2024-05-05 Relisted — MARMLS
• 2024-02-25 Relisted — MARMLS
• 2023-10-26 Relisted — MARMLS
• 2023-09-01 Relisted — MARMLS
• 2023-06-15 Price Changed $399,000 MARMLS
• 2023-06-01 Price Changed $406,000 MARMLS
• 2023-05-12 Listed $410,000 MARMLS
• 2023-05-01 Listing Removed — MARMLS
• 2023-02-01 Listing Removed — MARMLS
• 2023-02-01 Listed $397,000 MARMLS
• 2023-01-29 Price Changed $397,400 MARMLS
• 2023-01-10 Price Changed $397,500 MARMLS
• 2022-12-12 Price Changed $398,000 MARMLS
• 2022-04-25 Listed $399,000 MARMLS
• 2022-04-12 Listing Removed — MARMLS
• 2022-04-11 Price Changed $399,000 MARMLS
• 2022-03-10 Price Changed $383,000 MARMLS
• 2022-02-06 Price Changed $384,000 MARMLS
• 2021-08-13 Price Changed $358,090 MARMLS
• 2021-08-06 Price Changed $359,000 MARMLS
• 2021-04-20 Listed $332,000 MARMLS
• 2018-02-12 Sold (Public Records) $240,000 Public Records
• 2018-01-15 Pending — MARMLS
• 2018-01-02 Price Changed $266,000 MARMLS
• 2017-12-18 Price Changed $268,000 MARMLS
• 2017-12-13 Price Changed $268,500 MARMLS
• 2017-12-13 Price Changed $268,000 MARMLS
• 2017-11-23 Price Changed $268,500 MARMLS
• 2017-10-22 Price Changed $268,900 MARMLS
• 2017-10-13 Price Changed $269,900 MARMLS
• 2017-09-15 Price Changed $272,900 MARMLS
• 2017-08-22 Price Changed $273,900 MARMLS
• 2017-08-05 Price Changed $272,900 MARMLS
• 2017-07-11 Price Changed $273,900 MARMLS
• 2017-05-24 Price Changed $274,000 MARMLS
• 2017-05-12 Price Changed $275,000 MARMLS
• 2017-04-08 Listed $274,900 MARMLS
• 2012-05-23 Sold (Public Records) $167,000 Public Records
• 2012-05-02 Sold (MLS) $167,000 MARMLS
• 2010-09-09 Sold (MLS) $120,000 MARMLS
• 2010-05-26 Sold (Public Records) $120,000 Public Records
• 2006-02-13 Sold (Public Records) $287,000 Public Records
• 2004-05-14 Sold (Public Records) $119,500,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $4,440 · +4.9% YoY. Source: county tax records.