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$182,500

For Sale - Active
2903 NE 163rd St Apt 204, North Miami Beach, FL 33160
1 Bed
2 Baths
640 Square Feet
0.00 Acres Lot
Built in 1972
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jul 11, 2025 at 03:15AM

Investment Summary


Monthly Cash Flow
-$277
Cap Rate
4.3%
Cash-on-Cash Return
-7.9%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.7%

Property Description


0.00 Acres Lot
Built in 1972
For Sale - Active
Units n/a

! GREAT OPPORTUNITY FOR INVESTORS! Beautiful 1 bedroom, 1.5 bathrooms apartment in a Prime Location! It is conveniently located east of US1, close to the beach. Close of the Oleta River State Park. The unit features a spacious eat-in kitchen, over the dining and living area, a large master bedroom with a walk-in closet while ample storage and a walk-in closet offer convenience. Amenities such as a waterfront pool, exercise room and laundry facility. One assigned parking space. Great location for shopping, dining, and commuting with easy access to major highways, and more. The Building working to get certify to approve of the 50 years ,ok Rent -Only cash buyers.

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Location


Property Details


Parking

  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 10

HOA

  • Has HOA: Yes
  • HOA Fee: $487/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0722150180280
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1972

Tax Information

  • Annual Tax: $2,814

Utilities

  • Heating: Electric
  • Cooling: Electric

Location

  • County: Miami Dade

Listing Details


Listed by:
Patricia Munoz
United Realty Group Inc
(786) 547-5197

Source:
MIAMI REALTORS MLS
MLS#: A11747855
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$277
Cap Rate
4.3%
Cash-on-Cash Return
-7.9%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.7%

Purchase Details

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Purchase price:
$182,500
Amount financed:
-$146,000
Down payment:
$36,500
Closing costs:
$5,475
Rehab costs:
$0
Initial cash invested:
$41,975
Square feet:
640
Cost per square foot:
$285
Monthly rent per square foot:
$3.12

Financing Details

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Loan amount:
$146,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$935
Property tax:
$235
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,310

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$235-$2,814
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (24%)
24%-$487-$5,844
Total operating expenses: (61%)
61%-$1,222-$14,658

Cash Flow


Monthly Yearly
Net operating income:
$658 $7,896
Mortgage payments:
-$935 -$11,220
Cash flow:
$277 $3,324