16850 S Glades Dr Unit 2g · North Miami Beach, FL 33162

$199,900

2 bd · 2.0 ba · 970 sqft · Condo public records · 99 Days on market

Built 1969 $544/mo HOA · 16% 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 +29.1/30.0
• 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 MLS

2 bedrooms and 2 bathrooms Conner unit. great open space with lot open window, long balcony. tile on living area. New vinyl laminate wood floor bedrooms area. over view the pool and canal. walking distance to mall, school and park. $439 monthly fee. Aventura and major highways. Spacious corner unit with a lot of windows and an open and long balcony facing the water. Master bedroom has a walk-in closet and a tub bathroom. Electrical range, water heater, newer A/C, HOA has no reserves. cash offer prefer. NO FHA. pet under 15 lb.

Key facts

• Newer kitchen
• Lake views
• Private balcony

Tags

• LAKE VIEWS
• PRIVATE BALCONY
• NEWER KITCHEN
• WATERFRONT BUILDING
• TRANQUIL SETTING
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: Association with monthly fee; Monthly HOA includes insurance, ground and structure maintenance, sewer, trash, water, common areas, elevator, roof repairs, and pool service; Association amenities: Elevator(s), Laundry, Parking, Pool; Pets allowed with size limit

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (1 total)
• Security: Entry phone/intercom
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water connected
• Home design: Condominium; One level; Entry on level 2; Faces east; Resale condition; Accessible common areas and ramped approach
• Construction: CBS construction; Tile roof; 8-story building; Built-in assessor living area: 970
• Exterior features: Waterfront (other/none specified); West of US-1 road frontage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Skylight(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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.
• Zoned schools: Greynolds Park Elementary School (math 39% / reading 40%, grade F, #1,513 of 2,144 statewide, top 73%, 527 students, 74% FRL); John F. Kennedy Middle School (math 47% / reading 55%, grade C, #237 of 571 statewide, top 43%, 1,074 students, 67% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-13 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 (-1.6%/yr); 287 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,314/mo this rent would consume 66% 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

• It's been on market 99 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.66% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.73%
• DSCR: 1.66
• GRM: 5.0

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: -12.9%
• Equity multiple: 0.56×
• Total profit: $-24,851
• Equity at exit: $29,806

10-year hold

• IRR: -14.0%
• Equity multiple: 0.37×
• Total profit: $-35,157
• Equity at exit: $17,284

Cash invested: $55,972 (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: 287
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,314 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$256 /mo · $3,066/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$544
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $261

Break-even live

Break-even rent $2,984

Max offer price $199,900

Occupancy floor 87%

Sensitivity live

Price	-10% $374	-5% $317	+0% $261	+5% $204	+10% $148
Rent	-10% $-1	-5% $130	+0% $261	+5% $392	+10% $523
Rate	-1.0pp $361	-0.5pp $312	base $261	+0.5pp $209	+1.0pp $156

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $544 · $6,528/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $199,900 Active 99 DOM
2. 2026-06-18
   days on market $199,900 Active 96 DOM
3. 2026-06-17
   days on market $199,900 Active 95 DOM
4. 2026-06-16
   days on market $199,900 Active 94 DOM
5. 2026-06-15
   days on market $199,900 Active 93 DOM
6. 2026-06-13
   days on market $199,900 Active 91 DOM
7. 2026-06-09
   days on market $199,900 Active 87 DOM
8. 2026-06-08
   statusdays on market $199,900 Active 86 DOM
9. 2026-06-07
   days on market $199,900 Active Under Contract 85 DOM
10. 2026-06-04
    days on market $199,900 Active Under Contract 82 DOM
11. 2026-06-03
    days on market $199,900 Active Under Contract 81 DOM
12. 2026-06-02
    days on market $199,900 Active Under Contract 80 DOM
13. 2026-06-01
    days on market $199,900 Active Under Contract 79 DOM
14. 2026-05-31
    statusdays on market $199,900 Active Under Contract 78 DOM
15. 2026-04-29
    price $199,900
16. 2026-03-14
    listed $190,000 Active
17. 2024-05-08
    historical
18. 2024-04-16
    listed $230,000 Active
19. 2022-07-07
    soldstatus $215,000
20. 2022-07-01
    soldstatus $215,000 532-char remark

    Show marketing remark (532 chars)

    2 bedrooms and 2 bathrooms Conner unit. great open space with lot open window, long balcony. tile on living area. New vinyl laminate wood floor bedrooms area. over view the pool and canal. walking distance to mall, school and park. $439 monthly fee. Aventura and major highways. Spacious corner unit with a lot of windows and an open and long balcony facing the water. Master bedroom has a walk-in closet and a tub bathroom. Electrical range, water heater, newer A/C, HOA has no reserves. cash offer prefer. NO FHA. pet under 15 lb.

21. 2022-03-01
    soldstatus $155,000
22. 2021-12-14
    listed $215,000 532-char remark

    Show marketing remark (532 chars)

    2 bedrooms and 2 bathrooms Conner unit. great open space with lot open window, long balcony. tile on living area. New vinyl laminate wood floor bedrooms area. over view the pool and canal. walking distance to mall, school and park. $439 monthly fee. Aventura and major highways. Spacious corner unit with a lot of windows and an open and long balcony facing the water. Master bedroom has a walk-in closet and a tub bathroom. Electrical range, water heater, newer A/C, HOA has no reserves. cash offer prefer. NO FHA. pet under 15 lb.

23. 2020-09-30
    historical
24. 2019-12-17
    listed $157,500
25. 2018-04-24
    soldstatus $135,000
26. 2018-04-20
    soldstatus $135,000 Sold
27. 2018-03-21
    status Pending
28. 2017-12-11
    listed $145,000 Active
29. 2013-05-15
    soldstatus $70,000
30. 2013-05-01
    soldstatus $70,000 Sold
31. 2005-09-14
    soldstatus $152,000
32. 2004-04-30
    soldstatus $75,000
33. 1995-12-26
    soldstatus $40,000

ⓘ 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: $3,066 · $256/mo
• Projected year-2 tax: $3,066 · $256/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 7/10 Severe FEMA zone AE · 90% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,772
• − Mortgage interest: −$11,198
• − Property taxes: −$3,066
• − Insurance: −$6,118
• − Repairs & maintenance: −$3,182
• − Management: −$3,182
• − HOA: −$6,528
• − Depreciation: −$5,815
• Taxable income: $684
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $2,964/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

+399.8% since first listed

19 events — show timeline

• 2026-04-29 Price Changed $199,900 Beaches MLS
• 2026-03-14 Listed $190,000 Beaches MLS
• 2024-05-08 Listing Removed — MARMLS
• 2024-04-16 Listed $230,000 MARMLS
• 2022-07-07 Sold (Public Records) $215,000 Public Records
• 2022-07-01 Sold (MLS) $215,000 Beaches MLS
• 2022-03-01 Sold (Public Records) $155,000 Public Records
• 2021-12-14 Listed $215,000 Beaches MLS
• 2020-09-30 Listing Removed — Beaches MLS
• 2019-12-17 Listed $157,500 Beaches MLS
• 2018-04-24 Sold (Public Records) $135,000 Public Records
• 2018-04-20 Sold (MLS) $135,000 MARMLS
• 2018-03-21 Pending — MARMLS
• 2017-12-11 Listed $145,000 MARMLS
• 2013-05-15 Sold (Public Records) $70,000 Public Records
• 2013-05-01 Sold (MLS) $70,000 MARMLS
• 2005-09-14 Sold (Public Records) $152,000 Public Records
• 2004-04-30 Sold (Public Records) $75,000 Public Records
• 1995-12-26 Sold (Public Records) $40,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $3,066 · +3.3% YoY. Source: county tax records.