3522 NE 171st St #308 · North Miami Beach, FL 33160

$249,000

2 bd · 2.0 ba · 959 sqft · Condo public records · 51 Days on market

Built 1972 $491/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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious and bright corner unit located on the third floor of a waterfront building in North Miami Beach. This 2-bedroom, 2-bathroom residence offers 959 sq ft, featuring excellent natural light, a functional layout, and a large private balcony, community boat dock. Unit includes washer inside, plus full kitchen appliances. Both bedrooms have en-suite bathrooms. Building amenities include elevator, pool, BBQ area, and boat dock subject to availability up to 30fts. Direct Ocean Access. Prime location within walking distance to the beach (approx. 15 minutes) and close to Collins Avenue, Miami Beach, Aventura Mall, Sunny Isles, Bal Harbour Shops, and Oleta River State Park. Located in a high-d

Key facts

• Barbecue area
• Beautiful balcony
• Boat dock

Tags

• WATERFRONT BUILDING
• BEAUTIFUL BALCONY
• POOL
• BARBECUE AREA
• BOAT DOCK
• 15 MINUTE WALK TO THE BEACH

Property features AI

Finance

• Other: Association-maintained pool
• Financial info: Leases considered; Pets allowed (yes, size limit; pets over 20 lbs permitted)
• HOA & community: Monthly association fee of $491; Association covers amenities, common areas, insurance, grounds maintenance, structure maintenance, parking, pool(s), roof, sewer and water; Association amenities include boat dock, bike storage, barbecue, picnic area, pool, and elevator(s)

Exterior

• Parking: Guest parking; One assigned space
• Utilities: Municipal water; Sewer service; Electric service
• Home design: Condominium/townhome with attached property; 3 total stories; Entry on level 3; Resale property; Canal-front waterfront
• Construction: Block construction
• Exterior features: Balcony; Barbecue; Deck; Open patio/porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Accessible elevator installed; Breakfast bar; First-floor entry; Living/dining room; Walk-in closet(s)
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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).

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.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 9, 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 51 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 10y 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 $169k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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: 1.45% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 5.7

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: 5.5%
• Equity multiple: 1.27×
• Total profit: $18,543
• Equity at exit: $78,931

10-year hold

• IRR: 8.4%
• Equity multiple: 1.91×
• Total profit: $63,187
• Equity at exit: $100,346

Cash invested: $69,720 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,612 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$491
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $415

Break-even live

Break-even rent $3,086

Max offer price $249,000

Occupancy floor 84%

Sensitivity live

Price	-10% $556	-5% $486	+0% $415	+5% $345	+10% $274
Rent	-10% $130	-5% $272	+0% $415	+5% $558	+10% $700
Rate	-1.0pp $540	-0.5pp $478	base $415	+0.5pp $351	+1.0pp $285

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $491 · $5,892/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-13
   statusdays on market $249,000 Pending 51 DOM
2. 2026-06-09
   days on market $249,000 Active 48 DOM
3. 2026-06-08
   days on market $249,000 Active 47 DOM
4. 2026-06-07
   days on market $249,000 Active 46 DOM
5. 2026-06-04
   days on market $249,000 Active 43 DOM
6. 2026-06-03
   days on market $249,000 Active 42 DOM
7. 2026-06-02
   days on market $249,000 Active 41 DOM
8. 2026-06-01
   days on market $249,000 Active 40 DOM
9. 2026-05-31
   days on market $249,000 Active 39 DOM
10. 2026-04-22
    listed $249,000 Active
11. 2025-06-12
    historical
12. 2025-06-10
    historical $2,150
13. 2025-05-27
    price $2,150
14. 2025-05-20
    price $2,300
15. 2025-04-22
    price $284,900
16. 2025-03-22
    listed $2,200
17. 2024-12-18
    listed $290,000 Active
18. 2024-12-17
    historical
19. 2024-12-06
    price $290,000
20. 2024-11-21
    price $299,000
21. 2024-11-21
    status Active
22. 2024-10-24
    status Pending
23. 2024-10-10
    historical Active Under Contract
24. 2024-09-10
    status Active
25. 2024-08-30
    historical Active Under Contract
26. 2024-06-29
    price $300,000
27. 2024-05-09
    listed $320,000 Active
28. 2020-08-09
    status Active
29. 2020-07-08
    status Active
30. 2020-06-09
    historical Active Under Contract
31. 2020-06-09
    historical Hold
32. 2020-03-12
    listed $189,000 Active
33. 2020-02-10
    historical
34. 2020-02-04
    listed $204,990 Active
35. 2016-05-31
    historical
36. 2016-04-13
    listed $250,000 Active
37. 2005-04-26
    soldstatus $169,000
38. 2003-08-13
    soldstatus $115,000
39. 1990-04-09
    soldstatus $52,000
40. 1985-03-01
    soldstatus $46,500

ⓘ 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: $1,335 · $111/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$732/yr (+$61/mo · 54.8%)

ⓘ 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 · 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: $43,342
• − Mortgage interest: −$13,948
• − Property taxes: −$1,335
• − Insurance: −$6,364
• − Repairs & maintenance: −$3,467
• − Management: −$3,467
• − HOA: −$5,892
• − Depreciation: −$7,244
• Taxable income: $1,626
• Est. tax owed @ 24.0%: −$390
• After-tax cash flow: $4,591/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

+435.5% since first listed

31 events — show timeline

• 2026-04-22 Listed $249,000 MARMLS
• 2025-06-12 Listing Removed — MARMLS
• 2025-06-10 Rental Removed $2,150 MARMLS
• 2025-05-27 Price Changed $2,150 MARMLS
• 2025-05-20 Price Changed $2,300 MARMLS
• 2025-04-22 Price Changed $284,900 MARMLS
• 2025-03-22 Listed for Rent $2,200 MARMLS
• 2024-12-18 Listed $290,000 MARMLS
• 2024-12-17 Listing Removed — MARMLS
• 2024-12-06 Price Changed $290,000 MARMLS
• 2024-11-21 Price Changed $299,000 MARMLS
• 2024-11-21 Relisted — MARMLS
• 2024-10-24 Pending — MARMLS
• 2024-10-10 Contingent — MARMLS
• 2024-09-10 Relisted — MARMLS
• 2024-08-30 Contingent — MARMLS
• 2024-06-29 Price Changed $300,000 MARMLS
• 2024-05-09 Listed $320,000 MARMLS
• 2020-08-09 Relisted — MARMLS
• 2020-07-08 Relisted — MARMLS
• 2020-06-09 Contingent — MARMLS
• 2020-06-09 Delisted — MARMLS
• 2020-03-12 Listed $189,000 MARMLS
• 2020-02-10 Listing Removed — MARMLS
• 2020-02-04 Listed $204,990 MARMLS
• 2016-05-31 Listing Removed — MARMLS
• 2016-04-13 Listed $250,000 MARMLS
• 2005-04-26 Sold (Public Records) $169,000 Public Records
• 2003-08-13 Sold (Public Records) $115,000 Public Records
• 1990-04-09 Sold (Public Records) $52,000 Public Records
• 1985-03-01 Sold (Public Records) $46,500 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,335 · +8.7% YoY. Source: county tax records.