1176 97th Street 406, Bay Harbor Islands, FL 33154

Property tax (after sale): $5,240/month est.; homeowners insurance: $1,066/month est.; HOA: $5,276/month. Fixed ownership costs before a mortgage: $11,582/month est. Principal and interest: $23,863/month; PMI: $0/month. Total for the payment scenario shown: $35,445/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.

Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.

Most of Bay Harbor Islands sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.

For a Florida condo, review the milestone structural inspection and the Structural Integrity Reserve Study, current reserve balances, any pending or recently voted special assessment, the association's insurance and its litigation history. Ask how many units are owner-occupied and whether the lender will approve the building — a poorly funded association is the single biggest hidden cost in a condo purchase.

Rental rules are set by the association's documents, not the MLS. Many Bay Harbor Islands luxury buildings limit leases to once or twice a year with a minimum term and require board approval and an application fee. Request the declaration and rules before your inspection period ends if rental income matters to your plan.

This listing has been on the market 128 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.