2821 N Miami Beach Blvd Unit 4M · North Miami Beach, FL 33160

$290,000

2 bd · 2.0 ba · 1,085 sqft · Condo · 153 Days on market

Built 1973 $659/mo HOA · 19% of rent

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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 +13.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +5.3/10.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Nice apartment 2/2 at East of US1, Carlton Bay Condominium, storage locker, Laundry facilities on each floor, 2 parking spots (assigned + guest) fine dining, shopping, and top-rated schools an unbeatable location. Enjoy the relaxing pool and bay views, on-site parking, just minutes from Aventura Mall, Sunny Isles Beach, Oleta River State Park, shops, supermarkets, dining, and major highways. Located just 6 minutes to the ocean on a car or 15 minutes on a bicycle, a newly updated lobby. 50-year recertification passed + new roof. Owner can finance with good down payment.

Key facts

• $659 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $659; HOA covers common areas, cable TV, laundry, grounds maintenance, structure maintenance, parking, pest control, and trash; Association amenities include laundry, pool, sauna, storage, and elevators

Exterior

• Parking: Assigned parking; Two or more parking spaces
• Security: Secured elevator; Intercom; Key card entry
• Utilities: Cable available
• Home design: Condominium/apartment in a 6-story building; Entry on level 4; Has attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony (open, screened); Canal access; Exterior lighting; Association pool

Interior

• Bedrooms: Primary bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Main living area on entry level; Bedroom on main level; Main level primary bedroom; Walk-in closet(s); Elevator
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $32 ($380/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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.
• 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 $3,411/mo this rent would consume 61% 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 $4k of equity ($2k 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 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $255,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% 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 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.18% ✓
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 7.1

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: -1.5%
• Equity multiple: 0.93×
• Total profit: $-5,682
• Equity at exit: $91,928

10-year hold

• IRR: 2.1%
• Equity multiple: 1.23×
• Total profit: $18,658
• Equity at exit: $116,868

Cash invested: $81,200 (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: 7.1×

Monthly cashflow live

• Estimated rent: $3,411 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$659
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $32

Break-even live

Break-even rent $3,371

Max offer price $290,000

Occupancy floor 94%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $659 · $7,908/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $290,000 Active 153 DOM
2. 2026-06-17
   days on market $290,000 Active 152 DOM
3. 2026-06-16
   days on market $290,000 Active 151 DOM
4. 2026-06-15
   days on market $290,000 Active 150 DOM
5. 2026-06-13
   days on market $290,000 Active 148 DOM
6. 2026-06-09
   days on market $290,000 Active 144 DOM
7. 2026-06-08
   days on market $290,000 Active 143 DOM
8. 2026-06-07
   days on market $290,000 Active 142 DOM
9. 2026-06-04
   days on market $290,000 Active 139 DOM
10. 2026-06-03
    days on market $290,000 Active 138 DOM
11. 2026-06-02
    days on market $290,000 Active 137 DOM
12. 2026-06-01
    days on market $290,000 Active 136 DOM
13. 2026-05-31
    days on market $290,000 Active 135 DOM
14. 2026-02-19
    price $290,000
15. 2026-01-16
    listed $295,000 Active
16. 2025-09-23
    historical $2,000
17. 2025-09-14
    price $2,000
18. 2025-09-13
    price $2,049
19. 2025-08-16
    price $2,100
20. 2025-07-15
    price $2,200
21. 2025-07-07
    price $2,250
22. 2025-06-17
    price $2,300
23. 2025-06-09
    price $2,350
24. 2025-06-01
    price $2,450
25. 2025-05-28
    listed $2,399
26. 2025-05-05
    historical $2,300
27. 2025-03-02
    price $2,300
28. 2025-02-14
    listed $2,350

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

Taxation est. · year 1

• Rental income: $40,933
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,275
• − Management: −$3,275
• − HOA: −$7,908
• − Depreciation: −$8,436
• Taxable loss: −$4,005
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $1,341/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

+12240.4% since first listed

15 events — show timeline

• 2026-02-19 Price Changed $290,000 MARMLS
• 2026-01-16 Listed $295,000 MARMLS
• 2025-09-23 Rental Removed $2,000 MARMLS
• 2025-09-14 Price Changed $2,000 MARMLS
• 2025-09-13 Price Changed $2,049 MARMLS
• 2025-08-16 Price Changed $2,100 MARMLS
• 2025-07-15 Price Changed $2,200 MARMLS
• 2025-07-07 Price Changed $2,250 MARMLS
• 2025-06-17 Price Changed $2,300 MARMLS
• 2025-06-09 Price Changed $2,350 MARMLS
• 2025-06-01 Price Changed $2,450 MARMLS
• 2025-05-28 Listed for Rent $2,399 MARMLS
• 2025-05-05 Rental Removed $2,300 MARMLS
• 2025-03-02 Price Changed $2,300 MARMLS
• 2025-02-14 Listed for Rent $2,350 MARMLS