1050 93rd St Unit 6F · Bay Harbor Islands, FL 33154

$415,000

2 bd · 2.0 ba · 1,230 sqft · Condo public records · 298 Days on market

Built 1973 $850/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 +12.1/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks

UPDATED 2/2 IN VERY GOOD CONDITION PRESTIGIOUS BAY HARBOR ISLANDS, RENOVATED KITCHEN & EAT-IN, PARKING FOR SECOND VEHICLES, IMPACT WINDOWS OR SHUTTERS ON ALL WINDOWS, BIG TERRACE, EXERCISE ROOM, ACTIVITIES ROOM. BIG LIVING ROOM, BIG MASTER ROOM & BIG CLOSETS, APT 1,230 SQFT, PORCELAIN TILES (ONLY LIKE A YEAR OLD), APT HAS AN ASSESMENT, CABLE & INTERNET INCLUDED IN MAINTENANCE. High-ranking Ruth Broad K-8 School. Buy Now , prices will go up because of the construction in the area. Call & TEXT Listing Agent for showing instructions. Price can negotiable. Equal Housing Opportunity!

Key facts

• Exercise room
• Activities room
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• PARKING FOR SECOND VEHICLES
• IMPACT WINDOWS OR SHUTTERS
• BIG TERRACE
• EXERCISE ROOM
• ACTIVITIES ROOM

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $850; Association covers cable TV, hot water, insurance, laundry, building maintenance, parking, pest control, pool(s), trash and water; Community amenities: clubhouse, laundry facilities, elevators; 54 units in the community

Exterior

• Parking: Attached carport; One covered space; Two or more parking spaces total
• Security: Intercom; Smoke detectors
• Utilities: Cable available
• Home design: Condo in a 7-story building; Unit entry on level 6; Faces north; Updated/remodeled; Attached property
• Construction: Block construction; Resale unit
• Exterior features: Balcony (open); Storm/security shutters

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Eat-in kitchen layout
• Bedrooms: Bedroom (14 x 11); Second bedroom (18 x 12)
• Bathrooms: 2 full bathrooms
• Interior features: Impact glass windows; Entrance foyer; Eat-in kitchen; Combined living/dining area; Elevator access; Bedroom on main level
• Laundry & utility: Common area laundry; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $415k.

Deal economics

• At list price, monthly cash flow is $-514 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $324k (21.9% below list).
• Meets the 1% rule at list price ($4k rent vs $415k).
• Recommended offer: $324k (21.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 86/100 on livability (#13 in FL, #362 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living 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: Ruth K. Broad Bay Harbor K-8 Center (math 76% / reading 76%, grade A, #198 of 2,144 statewide, top 10%, 1,249 students, 29% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 38% FRL vs 64% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.3%/yr); 523 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,473/mo this rent would consume 60% of the median local household income ($90k/yr) (locally 774% 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 $28k of equity ($3k loan paydown + $25k appreciation (6.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($365k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $415k implies a 361% gain — meaningful room to come down on a strong offer.

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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,138 (21.9% 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. It's been on market 298 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. 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.
11. 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.
12. 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: 1.08% ✓
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.67×
• Total profit: $77,809
• Equity at exit: $264,146

10-year hold

• IRR: 10.0%
• Equity multiple: 2.99×
• Total profit: $231,782
• Equity at exit: $481,856

Cash invested: $116,200 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 523
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $4,473 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$422 /mo · $5,070/yr
• Insurance: −$173
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$850
• Vacancy / Maint / Mgmt: −$939
• Net cashflow: $-514

Break-even live

Break-even rent $5,124

Max offer price $324,138

Occupancy floor —

Sensitivity live

Price	-10% $-279	-5% $-397	+0% $-514	+5% $-632	+10% $-749
Rent	-10% $-868	-5% $-691	+0% $-514	+5% $-338	+10% $-161
Rate	-1.0pp $-305	-0.5pp $-409	base $-514	+0.5pp $-622	+1.0pp $-731

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9703 Collins Ave Bal Harbour, FL	1.0–2.0	1.0–2.0	1401	$26,000	$18.56	26d	2	0.57mi
9703 Collins Ave #1006 Bal Harbour, FL	1.0	1.0	1261	$26,000	$20.62	23d	1	0.57mi
8701 Collins Ave #304 Surfside, FL	2.0	2.5	1457	$25,000	$17.16	26d	1	0.96mi
10295 Collins Ave #1613 Bal Harbour, FL	1.0	1.5	1147	$27,500	$23.98	26d	1	1.11mi

HOA detail condo

• Monthly dues: $850 · $10,200/yr
• Likely covers: internetcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-05
   status Pending
2. 2026-01-16
   price $415,000
3. 2025-12-19
   status Active
4. 2025-12-19
   historical
5. 2025-07-11
   listed $440,000 Active
6. 2023-08-29
   historical $2,700
7. 2023-08-24
   historical
8. 2023-07-17
   price $439,000
9. 2023-07-17
   price $2,700
10. 2023-06-30
    listed $449,000 Active
11. 1999-12-01
    soldstatus $90,000
12. 1973-06-01
    soldstatus $47,000

ⓘ 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: $5,070 · $422/mo
• Projected year-2 tax: $5,070 · $422/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 · 30 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: $53,679
• − Mortgage interest: −$23,246
• − Property taxes: −$5,070
• − Insurance: −$7,194
• − Repairs & maintenance: −$4,294
• − Management: −$4,294
• − HOA: −$10,200
• − Depreciation: −$12,073
• Taxable loss: −$12,692
• Est. tax savings @ 24.0%: +$3,046
• After-tax cash flow: $-3,126/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 — Bay Harbor Islands

• Score: 86/100
• State rank: #13
• US rank: #362

Category grades

Amenities F Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay Harbor Islands, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,435
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% 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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

+783.0% since first listed

12 events — show timeline

• 2026-05-05 Pending — MARMLS
• 2026-01-16 Price Changed $415,000 MARMLS
• 2025-12-19 Relisted — MARMLS
• 2025-12-19 Listing Removed — MARMLS
• 2025-07-11 Listed $440,000 MARMLS
• 2023-08-29 Rental Removed $2,700 MARMLS
• 2023-08-24 Listing Removed — MARMLS
• 2023-07-17 Price Changed $439,000 MARMLS
• 2023-07-17 Price Changed $2,700 MARMLS
• 2023-06-30 Listed $449,000 MARMLS
• 1999-12-01 Sold (Public Records) $90,000 Public Records
• 1973-06-01 Sold (Public Records) $47,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $5,070 · +17.1% YoY. Source: county tax records.