2903 NE 163rd St · North Miami Beach, FL 33160

$267,000

1 bd · 2.0 ba · 792 sqft · SingleFamily · 27 Days on market

Built 1972 Good condition $337/sqft · 23% below area Est $347k · 23% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Appreciation +5.3/10.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +2.7/5.0

Listing remarks

Luxury remodeled condo near Sunny Isles Beach. Immediate rental allowed. Fully remodeled apartment with luxury finishes. Prime location just 1 mile from Sunny Isles Beach. River view and directly across from Oleta River Park. Open concept kitchen with new appliances and frigo. Pool, gym, and parking. Boat dock available for rent. Close to restaurants, supermarkets, shopping, and theater Perfect for living or investment.

Key facts

• Boat dock available
• Open concept kitchen
• River view

Tags

• REMODELED CONDO
• PRIME LOCATION
• RIVER VIEW
• OPEN CONCEPT KITCHEN
• BOAT DOCK AVAILABLE

🏷️ Possibly a rental listed for sale. The $267,000 price doesn't fit this home's estimated sale value (~$347,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $267k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $68 ($821/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $267k).
• Recommended offer: $263k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.5% 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.
• Zoned schools: Ojus Elementary School (math 56% / reading 59%, grade C+, #764 of 2,144 statewide, top 36%, 776 students, 63% FRL); Highland Oaks Middle School (math 28% / reading 51%, grade F, #373 of 571 statewide, top 66%, 774 students, 50% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents flat; 2334 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $2,962/mo this rent would consume 53% of the median local household income ($67k/yr) (locally 17% 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 $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.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($263k) 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 $262,995 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $347,000
• List price: $267,000
• Delta: -23.05%
• Verdict: UNDERPRICED
• Comps: 16 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2841 NE 163rd St #704	0.04mi	1/1.5	790 (-0%)	1mo	$197,000	$249	95
2903 N Miami Beach Blvd #1006	0.73mi	1/1.5	792 (0%)	0mo	$165,000	$208	64
3551 NE 169th St Unit 110-A	0.71mi	1/1.0	812 (+2%)	0mo	$184,000	$227	58
17011 N Bay Rd #117	1.12mi	1/1.5	767 (-3%)	0mo	$190,000	$248	57
500 Bayview Dr #325	0.99mi	1/1.5	762 (-4%)	0mo	$225,000	$295	56
2999 Point East Dr Unit C-502	1.02mi	1/1.0	816 (+3%)	1mo	$180,000	$221	55
16385 Biscayne Blvd #2920	0.54mi	1/2.0	937 (+18%)	1mo	$515,000	$550	49
16950 W Dixie Hwy Unit A-529	0.86mi	1/1.0	728 (-8%)	0mo	$109,000	$150	47
16950 W Dixie Hwy Unit A226	0.86mi	1/1.0	720 (-9%)	0mo	$101,000	$140	46
400 Kings Point Dr #229	0.97mi	1/1.0	720 (-9%)	0mo	$195,000	$271	46
17150 N Bay Rd #2319	1.18mi	1/1.0	673 (-15%)	0mo	$285,000	$423	36
3944 NE 167th St #106	0.77mi	2/2.0 (+1)	970 (+22%)	1mo	$190,000	$196	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-2,482
• Equity at exit: $84,637

10-year hold

• IRR: 2.9%
• Equity multiple: 1.32×
• Total profit: $23,757
• Equity at exit: $107,600

Cash invested: $74,760 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $1,950 ($3/sqft)
• Median days on market: 1 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +17155.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 2334
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,962 medium
• Mortgage (P&I): −$1,400
• Tax est. 1.5%: −$334 /mo · $4,005/yr
• Insurance: −$111
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $68

Break-even live

Break-even rent $2,876

Max offer price $267,000

Occupancy floor 93%

Sensitivity live

Price	-10% $253	-5% $161	+0% $68	+5% $-24	+10% $-116
Rent	-10% $-166	-5% $-49	+0% $68	+5% $185	+10% $302
Rate	-1.0pp $203	-0.5pp $136	base $68	+0.5pp $-1	+1.0pp $-71

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: $66,750
• Closing costs: $8,010
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-22
   days on market $267,000 Active 27 DOM
2. 2026-06-18
   days on market $267,000 Active 24 DOM
3. 2026-06-17
   days on market $267,000 Active 23 DOM
4. 2026-06-16
   days on market $267,000 Active 22 DOM
5. 2026-06-15
   days on market $267,000 Active 21 DOM
6. 2026-06-13
   days on market $267,000 Active 19 DOM
7. 2026-06-09
   days on market $267,000 Active 15 DOM
8. 2026-06-08
   days on market $267,000 Active 14 DOM
9. 2026-06-08
   days on market $267,000 Active 13 DOM
10. 2026-06-04
    days on market $267,000 Active 10 DOM
11. 2026-06-03
    days on market $267,000 Active 9 DOM
12. 2026-06-02
    days on market $267,000 Active 8 DOM
13. 2026-06-01
    days on market $267,000 Active 7 DOM
14. 2026-05-31
    days on market $267,000 Active 6 DOM
15. 2026-05-23
    listed $267,000 Active
16. 2021-06-02
    historical
17. 2021-04-23
    listed $230,000 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 8/10 Severe FEMA zone AE · 99% 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: $35,546
• − Mortgage interest: −$14,956
• − Property taxes: −$4,005
• − Insurance: −$6,454
• − Repairs & maintenance: −$2,844
• − Management: −$2,844
• − Depreciation: −$7,767
• Taxable loss: −$3,323
• Est. tax savings @ 24.0%: +$798
• After-tax cash flow: $1,618/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 · 2 photos

Good 75/100 Cosmetic rehab Est. rehab $3,960–$11,880 screening

This remodeled condo is in good condition with a modern kitchen and well-maintained exterior. Landscaping improvements and fresh paint could further enhance its value.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior — Fresh paint can improve curb appeal and value ↑
• Both Landscaping and curb appeal — Improves curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Ojus Elementary School C+ FL #764/2,144 Nat'l #8,415/41,679 Middle Highland Oaks Middle School F FL #373/571 Nat'l #6,151/14,009 High Alonzo & Tracy Mourning Senior High School F FL #244/667 Nat'l #7,320/17,239

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

A Composite livability gradescore 82/100

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 · 3,126,439 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: 17% of renters

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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%

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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%

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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

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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

2 events — show timeline

• 2021-06-02 Listing Removed — MARMLS
• 2021-04-23 Listed $230,000 MARMLS