3545 NE 166th St #1004 · North Miami Beach, FL 33160

$289,000

2 bd · 2.0 ba · 1,110 sqft · Condo public records · 19 Days on market

Built 1972 $832/mo HOA · 21% of rent

---

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 +16.3/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautiful 2 bed / 2 bath penthouse in the gated community of Eastern Shores. Bright and spacious layout with modern finishes, open living area, and private balcony. Primary suite with ensuite bathroom. Assigned covered parking + guest parking. Well-maintained building with pool. Prime location just minutes from Sunny Isles Beach, Aventura Mall, and Oleta River State Park. Can rent the available dock.

Key facts

• Gated neighborhood
• Remodeled
• $832 HOA

Tags

• REMODELED
• GATED NEIGHBORHOOD
• WALKING DISTANCE TO SHOPS
• CLOSE TO AVENTURA MALL
• CLOSE TO OLETTA STATE PARK

Property features AI

Finance

• Financial info: Pets allowed (size limit; pets over 20 lbs permitted)
• HOA & community: Monthly association fee; Association amenities: fitness center, pool, trash service, elevators; Association fee covers hot water, insurance, parking, pest control, sewer, trash, water

Exterior

• Parking: One covered parking space; 1-car garage
• Security: Secured elevator; Key card entry; Intercom
• Utilities: Central cooling
• Home design: Attached property; 10-story building; Entry on 10th floor
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Courtyard; Bayfront location; Intracoastal access; Association pool

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air
• Interior features: First-floor entry; Bedroom on main level; Intercom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (16.4% below list).
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $242k (16.4% below list) — sets the bar for cash-flow.
• Cap rate 7.0% 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; 1870 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,916/mo this rent would consume 70% 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 19 days — a 2% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 8y 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 $190k; list at $289k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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 $241,720 (16.4% 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.35% ✓
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.10
• GRM: 6.2

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: -6.5%
• Equity multiple: 0.69×
• Total profit: $-25,323
• Equity at exit: $91,611

10-year hold

• IRR: -2.9%
• Equity multiple: 0.69×
• Total profit: $-25,394
• Equity at exit: $116,465

Cash invested: $80,920 (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: 6.2×

Monthly cashflow live

• Estimated rent: $3,916 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$467 /mo · $5,598/yr
• Insurance: −$120
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$832
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $-268

Break-even live

Break-even rent $4,254

Max offer price $241,720

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15701 Collins Ave Sunny Isles Beach, FL	2.0–4.0	2.5–5.5	2325	$18,000	$7.74	2d	9	1.17mi

HOA detail condo

• Monthly dues: $832 · $9,984/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $289,000 Active 19 DOM
2. 2026-06-17
   days on market $289,000 Active 18 DOM
3. 2026-06-16
   days on market $289,000 Active 17 DOM
4. 2026-06-15
   days on market $289,000 Active 16 DOM
5. 2026-06-13
   days on market $289,000 Active 14 DOM
6. 2026-06-09
   days on market $289,000 Active 10 DOM
7. 2026-06-08
   days on market $289,000 Active 9 DOM
8. 2026-06-07
   days on market $289,000 Active 8 DOM
9. 2026-06-04
   days on market $289,000 Active 5 DOM
10. 2026-06-03
    days on market $289,000 Active 4 DOM
11. 2026-06-02
    days on market $289,000 Active 3 DOM
12. 2026-06-01
    days on market $289,000 Active 2 DOM
13. 2026-05-31
    pricedays on marketlisting id $289,000 Active 1 DOM
14. 2026-04-02
    listed $299,000 Active
15. 2026-03-31
    historical
16. 2025-12-18
    listed $299,000 Active
17. 2025-11-30
    historical
18. 2025-09-14
    status Active
19. 2025-09-14
    price $325,000
20. 2025-09-12
    status Pending
21. 2025-04-11
    price $329,000
22. 2025-03-15
    listed $345,000 Active
23. 2025-01-21
    historical $2,400
24. 2025-01-21
    historical
25. 2025-01-18
    price $2,400
26. 2025-01-17
    price $345,000
27. 2024-10-03
    price $355,000
28. 2024-10-02
    price $359,000
29. 2024-09-10
    price $360,000
30. 2024-08-31
    listed $2,600
31. 2024-07-03
    historical $2,800
32. 2024-06-20
    price $364,500
33. 2024-05-11
    price $365,000
34. 2024-03-27
    price $379,000
35. 2024-03-13
    listed $2,800
36. 2024-02-05
    price $380,000
37. 2024-02-05
    price $38,000
38. 2024-01-05
    price $381,000
39. 2023-12-14
    price $382,000
40. 2023-10-25
    price $384,000
41. 2023-09-13
    price $385,000
42. 2023-09-07
    price $387,000
43. 2023-08-18
    listed $389,000 Active
44. 2019-11-15
    soldstatus $190,000 Closed
45. 2019-11-08
    status Pending
46. 2019-10-11
    historical Active Under Contract
47. 2019-10-04
    status Backup Contract
48. 2019-09-13
    status Active
49. 2019-08-26
    historical
50. 2019-07-22
    listed $198,000 Active

ⓘ 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: $5,598 · $467/mo
• Projected year-2 tax: $5,598 · $467/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 · 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: $46,988
• − Mortgage interest: −$16,188
• − Property taxes: −$5,598
• − Insurance: −$6,564
• − Repairs & maintenance: −$3,759
• − Management: −$3,759
• − HOA: −$9,984
• − Depreciation: −$8,407
• Taxable loss: −$7,271
• Est. tax savings @ 24.0%: +$1,745
• After-tax cash flow: $-1,467/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

+831.5% since first listed

55 events — show timeline

• 2026-04-02 Listed $299,000 MARMLS
• 2026-03-31 Listing Removed — MARMLS
• 2025-12-18 Listed $299,000 MARMLS
• 2025-11-30 Listing Removed — MARMLS
• 2025-09-14 Relisted — MARMLS
• 2025-09-14 Price Changed $325,000 MARMLS
• 2025-09-12 Pending — MARMLS
• 2025-04-11 Price Changed $329,000 MARMLS
• 2025-03-15 Listed $345,000 MARMLS
• 2025-01-21 Rental Removed $2,400 MARMLS
• 2025-01-21 Listing Removed — MARMLS
• 2025-01-18 Price Changed $2,400 MARMLS
• 2025-01-17 Price Changed $345,000 MARMLS
• 2024-10-03 Price Changed $355,000 MARMLS
• 2024-10-02 Price Changed $359,000 MARMLS
• 2024-09-10 Price Changed $360,000 MARMLS
• 2024-08-31 Listed for Rent $2,600 MARMLS
• 2024-07-03 Rental Removed $2,800 MARMLS
• 2024-06-20 Price Changed $364,500 MARMLS
• 2024-05-11 Price Changed $365,000 MARMLS
• 2024-03-27 Price Changed $379,000 MARMLS
• 2024-03-13 Listed for Rent $2,800 MARMLS
• 2024-02-05 Price Changed $380,000 MARMLS
• 2024-02-05 Price Changed $38,000 MARMLS
• 2024-01-05 Price Changed $381,000 MARMLS
• 2023-12-14 Price Changed $382,000 MARMLS
• 2023-10-25 Price Changed $384,000 MARMLS
• 2023-09-13 Price Changed $385,000 MARMLS
• 2023-09-07 Price Changed $387,000 MARMLS
• 2023-08-18 Listed $389,000 MARMLS
• 2019-11-15 Sold (MLS) $190,000 MARMLS
• 2019-11-08 Pending — MARMLS
• 2019-10-11 Contingent — MARMLS
• 2019-10-04 Pending — MARMLS
• 2019-09-13 Relisted — MARMLS
• 2019-08-26 Listing Removed — MARMLS
• 2019-07-22 Listed $198,000 MARMLS
• 2019-07-17 Relisted — MARMLS
• 2019-07-17 Listing Removed — MARMLS
• 2019-06-10 Pending — MARMLS
• 2019-03-30 Relisted — MARMLS
• 2019-03-04 Pending — MARMLS
• 2019-02-19 Relisted — MARMLS
• 2019-02-09 Pending — MARMLS
• 2019-02-05 Relisted — MARMLS
• 2019-01-28 Pending — MARMLS
• 2019-01-18 Listed $198,000 MARMLS
• 2019-01-03 Listing Removed — MARMLS
• 2018-12-04 Price Changed $199,999 MARMLS
• 2018-10-08 Price Changed $215,000 MARMLS
• 2018-09-04 Price Changed $220,000 MARMLS
• 2018-08-22 Listed $230,000 MARMLS
• 2009-01-12 Sold (Public Records) $110,000 Public Records
• 2009-01-06 Sold (MLS) $110,000 MARMLS
• 1973-02-01 Sold (Public Records) $32,100 Public Records

Property tax history

+4.8%/yr

Latest (2025): $5,598 · +6.3% YoY. Source: county tax records.