5838 Collins Ave Unit 2H · Miami Beach, FL 33140

$299,000

1 bd · 1.0 ba · 815 sqft · Condo public records · 385 Days on market

Built 1970 $927/mo HOA · 21% 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 +21.6/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Priced to sell! Beautiful 1 bedroom 1.5 bathroom condo located close to Millionaire's Row. This renovated condo features newer kitchen, newer bath, tile floors throughout. Amenities; pool, gym, conference room, and 24 hour security. A MUST SEE!

Key facts

• Waterfront condo
• Waterfront pool
• Conference room

Tags

• WATERFRONT CONDO
• DIRECT ACCESS TO BEACH
• IMPACT WINDOWS
• WATERFRONT POOL
• GYM
• CONFERENCE ROOM

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include clubhouse, elevators, fitness center, laundry, pool; HOA covers amenities, cable TV, and security

Exterior

• Parking: Assigned covered detached garage space (1 space)
• Security: Secured lobby
• Utilities: Cable available
• Home design: Condo unit in a mid/high-rise building (15 stories); Entry on level 2; East-facing; Attached property
• Construction: Block construction
• Exterior features: Open balcony; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Combined living/dining room; Blinds; Impact-resistant windows
• Laundry & utility: Shared laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $27 ($329/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 1.5% in 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 80/100 on livability (#108 in FL, #1,672 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: housing C-, amenities D-, cost of living 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 rising (+3.5%/yr); 670 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.0% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.0% appreciation + 3.5% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 385 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $46k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $299k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 385 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 1.49% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.96% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.12×
• Total profit: $10,105
• Equity at exit: $101,528

10-year hold

• IRR: 7.7%
• Equity multiple: 1.96×
• Total profit: $80,090
• Equity at exit: $134,501

Cash invested: $83,720 (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 33140

• Home prices YoY: 0.3%
• Rents YoY: 3.5%
• Active inventory: 670
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,449 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$442 /mo · $5,298/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$927
• Vacancy / Maint / Mgmt: −$934
• Net cashflow: $27

Break-even live

Break-even rent $4,415

Max offer price $299,000

Occupancy floor 94%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $927 · $11,124/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-16
   statusdays on market $299,000 Pending 385 DOM
2. 2026-06-15
   days on market $299,000 Active 384 DOM
3. 2026-06-13
   days on market $299,000 Active 382 DOM
4. 2026-06-09
   days on market $299,000 Active 378 DOM
5. 2026-06-08
   days on market $299,000 Active 377 DOM
6. 2026-06-08
   days on market $299,000 Active 376 DOM
7. 2026-06-04
   days on market $299,000 Active 373 DOM
8. 2026-06-03
   days on market $299,000 Active 372 DOM
9. 2026-06-02
   days on market $299,000 Active 371 DOM
10. 2026-06-01
    days on market $299,000 Active 370 DOM
11. 2026-05-31
    days on market $299,000 Active 369 DOM
12. 2026-04-28
    price $299,000
13. 2026-03-23
    status Active
14. 2026-03-23
    price $304,000
15. 2026-02-26
    price $309,000
16. 2025-11-13
    price $314,000
17. 2025-09-18
    price $320,000
18. 2025-05-27
    listed $345,000 Active
19. 2025-01-19
    historical
20. 2024-08-18
    listed $400,000 Active
21. 2013-01-31
    soldstatus $180,000 244-char remark

    Show marketing remark (244 chars)

    Priced to sell! Beautiful 1 bedroom 1.5 bathroom condo located close to Millionaire's Row. This renovated condo features newer kitchen, newer bath, tile floors throughout. Amenities; pool, gym, conference room, and 24 hour security. A MUST SEE!

22. 2013-01-31
    soldstatus $180,000

    Show marketing remark (244 chars)

    Priced to sell! Beautiful 1 bedroom 1.5 bathroom condo located close to Millionaire's Row. This renovated condo features newer kitchen, newer bath, tile floors throughout. Amenities; pool, gym, conference room, and 24 hour security. A MUST SEE!

23. 2005-08-03
    soldstatus $235,000
24. 2004-04-12
    soldstatus $175,000
25. 1999-03-26
    soldstatus $77,500
26. 1997-08-01
    soldstatus $80,000

ⓘ 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: $5,298 · $442/mo
• Projected year-2 tax: $5,298 · $442/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 9/10 Extreme FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,393
• − Mortgage interest: −$16,749
• − Property taxes: −$5,298
• − Insurance: −$6,614
• − Repairs & maintenance: −$4,271
• − Management: −$4,271
• − HOA: −$11,124
• − Depreciation: −$8,698
• Taxable loss: −$3,632
• Est. tax savings @ 24.0%: +$872
• After-tax cash flow: $1,201/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 — Miami Beach

• Score: 80/100
• State rank: #108
• US rank: #1672

Category grades

Amenities D- Commute A+ Cost of living F Crime A+ Employment B Housing C- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 90,533
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,342
• Household income: $107,063
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 870.0

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 0.59)
• Race & ethnicity: White 46% Hispanic / Latino 44% Two or more races 23% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 19% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Italian 3%
• Foreign-born: 44% · Canada, Dominican Republic, Jamaica
• Languages at home: 43% English-only · Spanish 45% Other Indo-European 6% French/Haitian/Cajun 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: ▲ 0.96%
• Current HPI: 302.8514
• Rent YoY: ▲ 3.52%
• 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

+273.8% since first listed

15 events — show timeline

• 2026-04-28 Price Changed $299,000 MARMLS
• 2026-03-23 Relisted — MARMLS
• 2026-03-23 Price Changed $304,000 MARMLS
• 2026-02-26 Price Changed $309,000 MARMLS
• 2025-11-13 Price Changed $314,000 MARMLS
• 2025-09-18 Price Changed $320,000 MARMLS
• 2025-05-27 Listed $345,000 MARMLS
• 2025-01-19 Listing Removed — MARMLS
• 2024-08-18 Listed $400,000 MARMLS
• 2013-01-31 Sold (MLS) $180,000 MARMLS
• 2013-01-31 Sold (Public Records) $180,000 Public Records
• 2005-08-03 Sold (Public Records) $235,000 Public Records
• 2004-04-12 Sold (Public Records) $175,000 Public Records
• 1999-03-26 Sold (Public Records) $77,500 Public Records
• 1997-08-01 Sold (Public Records) $80,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $5,298 · +6.1% YoY. Source: county tax records.