1613 NW 16th St Unit E · Miami, FL 33125

$249,000

2 bd · 1.0 ba · 760 sqft · Condo public records · 108 Days on market

Built 1989

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity to own a 2-bedroom, 1.5-bathroom corner unit townhouse with patio in a highly central location just minutes from Downtown Miami, Miami Beach, Brickell, and Jackson Memorial Hospital. This property offers incredible convenience with easy access to major roads, shopping, dining, and entertainment. The unit is ready to be remodeled to your personal taste, making it a perfect option for investors or buyers looking to customize their next home. Best of all, there is NO association. Please note that due to the legal condo description, financing requires a minimum 20–25% down payment. Don’t miss this centrally located property with great potential and NO HOA, NO R

Key facts

• Easy access
• No association
• Central location

Tags

• CENTRAL LOCATION
• EASY ACCESS
• NO ASSOCIATION
• NO HOA RESTRICTIONS

Property features AI

Finance

• Financial info: Pets allowed with no stated restrictions

Exterior

• Parking: Assigned parking; Two or more spaces
• Utilities: Has cooling; Has heating
• Home design: Attached property; 1 story; Entry on level 1
• Construction: Block construction; Year built: Unknown
• Exterior features: Fenced yard; Patio

Interior

• Kitchen: Electric range; Gas range; Microwave; Refrigerator; Dishwasher
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Wall/window unit(s)
• Interior features: First floor entry; Upper-level primary
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/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: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 1.9% in Miami — 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime 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: Lorah Park Elementary School (math 17% / reading 32%, grade F, #2,037 of 2,144 statewide, top 96%, 262 students, 78% FRL); Citrus Grove Middle School (math 19% / reading 21%, grade F, #558 of 571 statewide, top 98%, 781 students, 66% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 20% at this address vs 50% district-wide (-30 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.4%/yr); 241 active listings in the ZIP; lower-income renter base — watch delinquency; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $249k implies a 266% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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: 1.61% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.04%
• DSCR: 2.29
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.41×
• Total profit: $28,352
• Equity at exit: $37,127

10-year hold

• IRR: 17.0%
• Equity multiple: 2.20×
• Total profit: $83,330
• Equity at exit: $21,529

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 33125

• Rents YoY: -1.4%
• Active inventory: 241
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $4,014 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$843
• Net cashflow: $1,261

Break-even live

Break-even rent $2,418

Max offer price $249,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,402	-5% $1,331	+0% $1,261	+5% $1,190	+10% $1,120
Rent	-10% $943	-5% $1,102	+0% $1,261	+5% $1,419	+10% $1,578
Rate	-1.0pp $1,386	-0.5pp $1,324	base $1,261	+0.5pp $1,196	+1.0pp $1,130

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: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   statusdays on market $249,000 Pending 108 DOM
2. 2026-06-18
   days on market $249,000 Active 107 DOM
3. 2026-06-17
   days on market $249,000 Active 106 DOM
4. 2026-06-16
   days on market $249,000 Active 105 DOM
5. 2026-06-15
   days on market $249,000 Active 104 DOM
6. 2026-06-13
   days on market $249,000 Active 102 DOM
7. 2026-06-09
   days on market $249,000 Active 98 DOM
8. 2026-06-08
   days on market $249,000 Active 97 DOM
9. 2026-06-07
   days on market $249,000 Active 96 DOM
10. 2026-06-04
    days on market $249,000 Active 93 DOM
11. 2026-06-03
    days on market $249,000 Active 92 DOM
12. 2026-06-02
    days on market $249,000 Active 91 DOM
13. 2026-06-01
    days on market $249,000 Active 90 DOM
14. 2026-05-31
    days on market $249,000 Active 89 DOM
15. 2026-03-31
    price $249,000
16. 2026-02-17
    listed $260,000 Active
17. 2002-08-22
    soldstatus $68,000

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$1,174/yr (+$98/mo · 131.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,167
• − Mortgage interest: −$13,948
• − Property taxes: −$892
• − Insurance: −$6,364
• − Repairs & maintenance: −$3,853
• − Management: −$3,853
• − Depreciation: −$7,244
• Taxable income: $12,013
• Est. tax owed @ 24.0%: −$2,883
• After-tax cash flow: $12,244/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 — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 56,897
• Household income: $44,979
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 5223.0

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: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 52% White 4% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 46% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 68% · Canada, Jamaica, Dominican Republic
• Languages at home: 9% English-only · Spanish 90%

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: ▼ -402.98%
• Current HPI: 476.1631
• Rent YoY: ▼ -1.39%
• 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

+266.2% since first listed

3 events — show timeline

• 2026-03-31 Price Changed $249,000 MARMLS
• 2026-02-17 Listed $260,000 MARMLS
• 2002-08-22 Sold (Public Records) $68,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $892 · +1.0% YoY. Source: county tax records.