16851 NE 23 Ave #611 · North Miami Beach, FL 33160

$179,900

1 bd · 1.0 ba · 728 sqft · Condo · 99 Days on market

Built 1973 Good condition $450/mo HOA · 14% 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
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0

Listing remarks

Income opportunity through rental with seller financing available: Enjoy a life of luxury and breathtaking sunset views from this exquisite condominium. Floor-to-ceiling windows and a private balcony seamlessly blend indoor and outdoor living. Inside, you will find a spacious one-bedroom, one-bath apartment with an open kitchen and a beautifully renovated bathroom featuring travertine tiles and a shower/tub. Gleaming hardwood floors enhance the interior, while a large walk-in closet with floor-to-ceiling windows elevates the bedroom space. The building offers amenities such as a furnished pool. Enjoy the ideal location, just steps from the NMB Tennis Center, the Old Spanish Monastery, and o

Key facts

• Renovated bathroom
• Private balcony
• Sunset views

Tags

• SUNSET VIEWS
• FLOOR TO CEILING WINDOWS
• PRIVATE BALCONY
• OPEN KITCHEN
• RENOVATED BATHROOM
• TRAVERTINE TILES

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee; Association amenities include cabana, clubhouse, community kitchen, elevators, laundry, barbecue/picnic area, pool, sauna, and tennis courts; Association fee covers amenities, common areas, laundry, grounds maintenance, structure maintenance, parking, sewer, security, trash, and water; Community of 576 units

Exterior

• Parking: Assigned parking; Guest parking; One covered space (1 garage space)
• Security: Closed-circuit cameras; Complex is fenced; Security guard; Fire sprinkler system; Smoke detectors
• Utilities: Cable available
• Home design: Block construction; 1 story in unit; building has 6 total stories; Entry on level 6; Updated/remodeled; Attached property
• Construction: Block construction
• Exterior features: Balcony; Screened balcony; Awnings; Courtyard; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Microwave; Disposal; Icemaker; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Hardwood; Terrazzo; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast bar; Breakfast area; Living/dining room; First-floor entry; Main living area on entry level; Elevator; Accessible elevator installed; Accessible doors; Accessible hallways; Tub/shower; Walk-in closets; Drapes; Sliding windows; Impact glass
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 flat; 1878 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,115/mo this rent would consume 56% 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 $2k of equity ($1k loan paydown + $948 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 $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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. 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: 1.73% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• 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: 6.3%
• Equity multiple: 1.30×
• Total profit: $15,242
• Equity at exit: $57,027

10-year hold

• IRR: 8.9%
• Equity multiple: 1.94×
• Total profit: $47,542
• Equity at exit: $72,499

Cash invested: $50,372 (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: 1878
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,115 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$450
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $341

Break-even live

Break-even rent $2,683

Max offer price $179,900

Occupancy floor 84%

Sensitivity live

Price	-10% $466	-5% $404	+0% $341	+5% $279	+10% $217
Rent	-10% $95	-5% $218	+0% $341	+5% $464	+10% $588
Rate	-1.0pp $432	-0.5pp $387	base $341	+0.5pp $295	+1.0pp $247

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $179,900 Active 99 DOM
2. 2026-06-18
   days on market $179,900 Active 96 DOM
3. 2026-06-17
   days on market $179,900 Active 95 DOM
4. 2026-06-16
   days on market $179,900 Active 94 DOM
5. 2026-06-15
   days on market $179,900 Active 93 DOM
6. 2026-06-13
   days on market $179,900 Active 91 DOM
7. 2026-06-09
   days on market $179,900 Active 87 DOM
8. 2026-06-08
   days on market $179,900 Active 86 DOM
9. 2026-06-07
   days on market $179,900 Active 85 DOM
10. 2026-06-04
    days on market $179,900 Active 82 DOM
11. 2026-06-03
    days on market $179,900 Active 81 DOM
12. 2026-06-02
    days on market $179,900 Active 80 DOM
13. 2026-06-01
    days on market $179,900 Active 79 DOM
14. 2026-05-31
    days on market $179,900 Active 78 DOM
15. 2026-05-01
    price $179,900
16. 2026-03-13
    listed $180,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 87% 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: $37,385
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$6,018
• − Repairs & maintenance: −$2,991
• − Management: −$2,991
• − HOA: −$5,400
• − Depreciation: −$5,233
• Taxable income: $1,976
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $3,622/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained and attractive townhouse is ready for immediate occupancy and offers a great investment opportunity.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value
• Both Landscaping improvements — Enhances curb appeal and rental value
• Both Updating the kitchen appliances — Modernizes the space and increases appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and resale value ↑
• Both Landscaping improvements — Enhances curb appeal and rental value ↑
• Both Updating the kitchen appliances — Modernizes the space and increases appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• 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

-0.1% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $179,900 MARMLS
• 2026-03-13 Listed $180,000 MARMLS