2025 NE 164th St #904 · North Miami Beach, FL 33162

$199,000

2 bd · 2.0 ba · 1,113 sqft · Condo public records · 9 Days on market

Built 1970 $648/mo HOA · 18% 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 +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 +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Special price for sale!! Large corner and bright apartment, 2 bed, 2 bath plus den in the heart North Miami Beach. Minutes from Aventura mall, public transportation, restaurants, shopping centers and more. Huge corner balcony with amazing view from the 9th floor. Amenities including pool, gym, club, and more. Unit is unfurnished. Hurry up before it's gone. Tile and laminate flooring, appliances in good conditions, and spacious living areas. The property offers fantastic amenities, including a brand-new swimming pool, gym, and party room. You're just minutes away from Publix, Home Depot, Walmart, and the post office. This property is IDEAL FOR INVESTORS looking for an excellent rental opport

Key facts

• Corner balcony
• Fantastic amenities
• $648 HOA

Tags

• CORNER BALCONY
• BRAND-NEW SWIMMING POOL
• SPACIOUS LIVING AREAS
• FANTASTIC AMENITIES

Property features AI

Finance

• Financial info: Pets allowed (no restrictions noted)
• HOA & community: Monthly association fee of $648; Association fee covers common areas, hot water, insurance, laundry, building maintenance, parking, pest control, sewer, security, and trash; Community amenities include laundry facilities, association pool, and elevators

Exterior

• Parking: One designated parking space
• Security: Complex fenced; Fire alarm; Security guard; Smoke detectors
• Utilities: Association-provided hot water; Sewer service included in association; Power available; Has view
• Home design: Condominium in a 9-story building; Entry on level 9; Has attached property; Exterior lighting
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Fence; Canal-front waterfront

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Living/dining room; Den; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Cap rate 12.1% 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 soft (-1.6%/yr); 284 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,533/mo this rent would consume 70% of the median local household income ($61k/yr) (locally 2509% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 12y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 28% 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 $199,000

Questions for the listing agent

1. Built in 1970 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.78% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.58%
• DSCR: 1.92
• GRM: 4.7

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: -4.2%
• Equity multiple: 0.85×
• Total profit: $-8,296
• Equity at exit: $29,672

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,407
• Equity at exit: $17,206

Cash invested: $55,720 (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 33162

• Rents YoY: -1.6%
• Active inventory: 284
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,533 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$648
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $529

Break-even live

Break-even rent $2,863

Max offer price $199,000

Occupancy floor 80%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $648 · $7,776/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $199,000 Active 9 DOM
2. 2026-06-17
   days on market $199,000 Active 8 DOM
3. 2026-06-16
   days on market $199,000 Active 7 DOM
4. 2026-06-15
   days on market $199,000 Active 6 DOM
5. 2026-06-13
   days on marketlisting id $199,000 Active 4 DOM
6. 2026-05-31
   days on market $199,000 Active 188 DOM
7. 2026-01-28
   price $199,000
8. 2026-01-02
   price $215,000
9. 2025-11-24
   listed $220,000 Active
10. 2025-10-31
    historical
11. 2025-08-01
    historical $1,800
12. 2025-07-17
    listed $1,800
13. 2025-07-03
    historical $2,250
14. 2025-07-03
    price $215,000
15. 2025-06-21
    price $2,250
16. 2025-06-20
    price $229,000
17. 2025-05-17
    listed $2,300
18. 2025-05-04
    status Active
19. 2025-05-02
    historical $2,000
20. 2025-04-18
    listed $2,400
21. 2025-02-11
    listed $230,000 Active
22. 2020-02-07
    soldstatus $155,000
23. 2020-02-01
    soldstatus $155,000 Closed
24. 2020-01-08
    status Pending
25. 2019-11-12
    listed $164,000 Active
26. 2015-04-08
    historical
27. 2014-08-25
    listed $119,000 Active
28. 2002-07-29
    soldstatus $65,000
29. 2000-09-01
    soldstatus $56,000
30. 1997-01-29
    soldstatus $47,500
31. 1989-12-29
    soldstatus $42,000

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$918/yr (+$77/mo · 125.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 92% 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: $42,401
• − Mortgage interest: −$11,147
• − Property taxes: −$733
• − Insurance: −$6,114
• − Repairs & maintenance: −$3,392
• − Management: −$3,392
• − HOA: −$7,776
• − Depreciation: −$5,789
• Taxable income: $4,058
• Est. tax owed @ 24.0%: −$974
• After-tax cash flow: $5,377/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): 46,606
• Household income: $60,692
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 2509.0

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 0.62)
• Race & ethnicity: Black 53% Hispanic / Latino 30% Two or more races 15% White 12% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 3%
• Common ancestry: Hispanic 31% Romanian 1% Scotch-Irish 1%
• Foreign-born: 52% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · French/Haitian/Cajun 35% Spanish 30% Other Indo-European 2%

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: ▼ -445.57%
• Current HPI: 596.6178
• Rent YoY: ▼ -1.59%
• 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

+373.8% since first listed

25 events — show timeline

• 2026-01-28 Price Changed $199,000 MARMLS
• 2026-01-02 Price Changed $215,000 MARMLS
• 2025-11-24 Listed $220,000 MARMLS
• 2025-10-31 Listing Removed — MARMLS
• 2025-08-01 Rental Removed $1,800 MARMLS
• 2025-07-17 Listed for Rent $1,800 MARMLS
• 2025-07-03 Rental Removed $2,250 MARMLS
• 2025-07-03 Price Changed $215,000 MARMLS
• 2025-06-21 Price Changed $2,250 MARMLS
• 2025-06-20 Price Changed $229,000 MARMLS
• 2025-05-17 Listed for Rent $2,300 MARMLS
• 2025-05-04 Relisted — MARMLS
• 2025-05-02 Rental Removed $2,000 MARMLS
• 2025-04-18 Listed for Rent $2,400 MARMLS
• 2025-02-11 Listed $230,000 MARMLS
• 2020-02-07 Sold (Public Records) $155,000 Public Records
• 2020-02-01 Sold (MLS) $155,000 MARMLS
• 2020-01-08 Pending — MARMLS
• 2019-11-12 Listed $164,000 MARMLS
• 2015-04-08 Listing Removed — MARMLS
• 2014-08-25 Listed $119,000 MARMLS
• 2002-07-29 Sold (Public Records) $65,000 Public Records
• 2000-09-01 Sold (Public Records) $56,000 Public Records
• 1997-01-29 Sold (Public Records) $47,500 Public Records
• 1989-12-29 Sold (Public Records) $42,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $733 · +3.9% YoY. Source: county tax records.