2025 NE 164th St #503 · North Miami Beach, FL 33162

$195,000

2 bd · 2.0 ba · 1,112 sqft · Condo public records · 7 Days on market

Built 1970 $712/mo HOA · 20% of rent

---

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
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

Key facts

• Ample natural light
• Corner unit
• L-shape balcony

Tags

• CORNER UNIT
• L-SHAPE BALCONY
• UPDATED PLUMBING
• UPDATED OPEN CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES
• AMPLE NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $195k).
• Cap rate 11.5% vs local median 5.2% in North Miami 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 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.
• Market conditions: Rents soft (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,523/mo this rent would consume 70% of the median local household income ($61k/yr) (locally 2509% 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 (-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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $195k implies a 77% gain — meaningful room to come down on a strong offer.

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 $195,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.81% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 4.6

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: -7.4%
• Equity multiple: 0.74×
• Total profit: $-14,265
• Equity at exit: $29,075

10-year hold

• IRR: -5.3%
• Equity multiple: 0.73×
• Total profit: $-14,832
• Equity at exit: $16,860

Cash invested: $54,600 (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 33162

• Rents YoY: -1.6%
• Active inventory: 284
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,523 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$81
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$712
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $424

Break-even live

Break-even rent $2,986

Max offer price $195,000

Occupancy floor 83%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $712 · $8,544/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $195,000 Active 7 DOM
2. 2026-06-17
   days on market $195,000 Active 6 DOM
3. 2026-06-16
   days on market $195,000 Active 5 DOM
4. 2026-06-15
   days on market $195,000 Active 4 DOM
5. 2026-06-13
   pricestatusdays on marketlisting id $195,000 Active 2 DOM
6. 2026-03-10
   status Pending
7. 2026-02-18
   price $175,000
8. 2026-01-22
   price $188,000
9. 2025-12-10
   price $199,500
10. 2025-11-12
    listed $210,000 Active
11. 2022-05-09
    historical
12. 2022-03-17
    listed $250,000 Active
13. 2015-11-13
    soldstatus $110,000 Sold 212-char remark

    Show marketing remark (212 chars)

    Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

14. 2015-11-13
    soldstatus $110,000

    Show marketing remark (212 chars)

    Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

15. 2015-10-28
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

16. 2015-10-19
    price $105,000 212-char remark

    Show marketing remark (212 chars)

    Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

17. 2015-10-15
    listed $120,000 Active 212-char remark

    Show marketing remark (212 chars)

    Beautiful updated corner unit in the heart of North Miami 3 blocks to Biscayne Blvd and 163 st, bright and big unit with new kitchen and bathrooms don't miss this opportunity just for homeowners, motivated seller

18. 1999-03-18
    soldstatus $53,000
19. 1999-03-18
    soldstatus $53,000
20. 1981-02-01
    soldstatus $64,000

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$217/yr (+$18/mo · 15.5%)

ⓘ 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 ≥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: $42,271
• − Mortgage interest: −$10,923
• − Property taxes: −$1,402
• − Insurance: −$6,094
• − Repairs & maintenance: −$3,382
• − Management: −$3,382
• − HOA: −$8,544
• − Depreciation: −$5,673
• Taxable income: $2,873
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $4,394/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): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+173.4% since first listed

15 events — show timeline

• 2026-03-10 Pending — MARMLS
• 2026-02-18 Price Changed $175,000 MARMLS
• 2026-01-22 Price Changed $188,000 MARMLS
• 2025-12-10 Price Changed $199,500 MARMLS
• 2025-11-12 Listed $210,000 MARMLS
• 2022-05-09 Listing Removed — MARMLS
• 2022-03-17 Listed $250,000 MARMLS
• 2015-11-13 Sold (MLS) $110,000 MARMLS
• 2015-11-13 Sold (Public Records) $110,000 Public Records
• 2015-10-28 Pending — MARMLS
• 2015-10-19 Price Changed $105,000 MARMLS
• 2015-10-15 Listed $120,000 MARMLS
• 1999-03-18 Sold (Public Records) $53,000 Public Records
• 1999-03-18 Sold (Public Records) $53,000 Public Records
• 1981-02-01 Sold (Public Records) $64,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,402 · -0.2% YoY. Source: county tax records.