Three islands between Mainland Miami and Miami Beach — Treasure Island, North Bay Island, Harbor Island. STR-friendly zoning, open-bay views, walkable to the Bay Harbor restaurants. Steve runs his Cutlass house here at $738 ADR / 68% occupancy / $183k/yr.
Investment thesis
Three reasons single-family STR investments outperform condos on every cash-flow metric.
Condos charge $700-$2,400/mo HOA and impose rules that change without notice. Houses have $0 HOA, you set the rules, and special assessments only happen if YOU decide to renovate.
Steve's Cutlass property (4BR/3BA, North Bay Village) delivered $183,000 STR revenue in 12 months at 68% occupancy and $738 ADR. That's 2x what most Brickell condos produce.
North Bay Village is built on 3 islands in Biscayne Bay — waterfront homes under $1M still exist here, 10 min to South Beach. Single-family zoning protects against future HOA-style restrictions.
Cost & rules
Costs structure is fundamentally different from condos — no HOA, but higher property tax and insurance. Net result: more cash flow.
Live MLS · refreshed nightly
The 12 most recently listed Active single-family homes in North Bay Village. Click «Run Analysis» to model the deal in our simulator.
Real Cutlass performance — Steve's house portfolio
Real numbers from Steve's Cutlass property managed through Guesty over 12 months. House STR economics fundamentally outperform comparable condos on a $/sqft basis.
Source: Steve's Guesty P&L · Cutlass (7552 Cutlass Ave) · 12-mo trailing May 2025 to April 2026. House revenue/sqft consistently 2-3x condo revenue/sqft in same zone.
ROI projections
House investments have higher purchase prices but lower fixed costs (no HOA). Cap rates often beat condos because revenue scales with space/amenities, not floor count.
| Unit type | Price | STR rev | HOA/yr | NOI | Cap rate |
|---|---|---|---|---|---|
| NBV 3BR (median) | $1.1M | $130k | $0 | $78k | 7.1% |
| NBV 4BR Cutlass | $1.38M | $183k | $0 | $112k | 8.1% |
| NBV 5BR waterfront | $2.5M | $250k | $0 | $155k | 6.2% |
Buy + run · one team
North Bay Village is one of the most STR-friendly zones in the Miami area — Steve runs his Cutlass house here at 68% occupancy / $738 ADR / $183k/yr. Property Management Brickell LLC (BlueBay's sister entity) runs it end-to-end: Airbnb / VRBO / Booking listings, dynamic pricing, cleaning, taxes.
Multi-channel listings (Airbnb 30+, Furnished Finder, corporate housing platforms) with dynamic pricing tuned to school-year, sports, and Art Basel demand cycles.
Guest screening, contracts, check-in coordination, cleaning between stays, maintenance triage. Single point of contact for every issue.
Monthly P&L statement, occupancy & ADR vs. comp set, tax-ready ledgers (Florida sales/tourist tax filed on your behalf where applicable).
Management fee is % of revenue, not a fixed retainer. We earn more when your home performs better — same numbers Steve hits on the units in his own portfolio.
Property Management Brickell LLC · Florida licensed · Working alongside BlueBay Brokers since [year]. Pricing and scope discussed during your strategy call.
Lead magnet · 24h delivery
Tell us what you're looking for. Steve walks you through current North Bay Village inventory, off-market opportunities, and a 5-year hold projection — within 24 hours, no obligation.
What you get: Personalized shortlist · MLS + off-market · Comp sales · Seller financing options where available.
15-minute strategy call with Steve to walk through current inventory, financing structure, and target ROI.