711 Lenox Ave · Miami Beach, FL 33139

$2,850,000

4 bd · 3.0 ba · 2,116 sqft · MultiFamily public records · 14 Days on market

Built 1934

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Appreciation +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 11 units. estimate disagrees with records

Listing remarks MLS

Seller financing available. Multi-Family home in South Beach. Home with separate cottage. 2,450 sq. ft. under air with 7,500 sq. ft. lot. Next to Publix, Best Buy, Staples, TJ Max, and more. Interior of home needs to be redone. 1st time on the market. Ver y easy to show. Property is zoned as multi-family and commercial.

Key facts

• Active hotel license
• Immediate income
• Turnkey

Tags

• TURNKEY
• COMPREHENSIVELY RENOVATED
• SPANISH COLONIAL REVIVAL
• ACTIVE HOTEL LICENSE
• IMMEDIATE INCOME

Property features AI

Finance

• Financial info: Property set up as four efficiency rental units (4 units, furnished); Actual rent range listed as 0.00 (no current rent data provided)
• HOA & community: Community laundry facilities; Gardener service included in rent; Pest control included in rent; Trash collection included in rent; Cable TV included in rent; Water included in rent; Electricity included in rent

Exterior

• Parking: Four parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building; Block construction; Spanish tile roof; Resale property
• Construction: Block construction; Spanish tile roof; Built previously (resale)
• Exterior features: Deck; Barbecue; Patio/porch area

Interior

• Kitchen: Range included; Kitchen in each unit
• Bedrooms: Eight bedrooms (across 4 efficiency units)
• Flooring: Tile floors
• Bathrooms: Eight full bathrooms (across 4 efficiency units)
• Heating & cooling: Central heating; Central air conditioning; Individual air conditioning units referenced for units
• Interior features: Blinds; Impact glass windows
• Laundry & utility: On-site laundry facilities (community laundry)

What this means for you Summary

Snapshot

• This is a 11 × 1-bed/?-bath units multifamily listed at $2.85M.

Deal economics

• At list price, monthly cash flow is $10k ($122k/yr) — positive. Per door: $928/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($36k rent vs $2.85M).
• Cap rate 10.6% 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 soft (-0.4%/yr); 1208 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $36,084/mo this rent would consume 620% of the median local household income ($70k/yr) (locally 4052% 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 (-2.2%/yr); year-one equity from $20k of loan paydown is wiped out by about $62k 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.
• At projected returns (-2.2% appreciation + 0.0% rent growth), your $798k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $549k; list at $2.85M implies a 419% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,850,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.35%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.19% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.23×
• Total profit: $180,208
• Equity at exit: $529,202

10-year hold

• IRR: 11.1%
• Equity multiple: 1.84×
• Total profit: $670,631
• Equity at exit: $429,290

Cash invested: $798,000 (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 33139

• Home prices YoY: -0.8%
• Rents YoY: -0.4%
• Active inventory: 1208
• Price-to-rent: 72.4×

Monthly cashflow live

• Estimated rent: $36,084 medium
• Mortgage (P&I): −$14,946
• Tax from tax record: −$2,166 /mo · $25,994/yr
• Insurance: −$1,188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,578
• Net cashflow: $10,207

Break-even live

Break-even rent $23,164

Max offer price $2,850,000

Occupancy floor 67%

Sensitivity live

Price	-10% $11,820	-5% $11,014	+0% $10,207	+5% $9,400	+10% $8,594
Rent	-10% $7,356	-5% $8,782	+0% $10,207	+5% $11,632	+10% $13,058
Rate	-1.0pp $11,642	-0.5pp $10,932	base $10,207	+0.5pp $9,469	+1.0pp $8,717

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	1	—	$36,080
Total (11 units)			$36,084

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: $712,500
• Closing costs: $85,500
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Alton Rd #3905 Miami Beach, FL	3.0	3.5	1990	$24,950	$12.54	25d	1	0.19mi
500 Alton Rd #2702 Miami Beach, FL	3.0	3.5	2930	$39,000	$13.31	25d	1	0.19mi
500 Alton Rd #2205 Miami Beach, FL	4.0	3.5	2512	$24,495	$9.75	25d	1	0.19mi
400 Alton Rd Miami Beach, FL	2.0–3.0	2.5–3.0	2103	$28,795	$13.69	22d	2	0.31mi
400 Alton Rd #1506 Miami Beach, FL	3.0	3.0	2024	$28,795	$14.23	5d	1	0.31mi
602 Collins Ave #602 Miami Beach, FL	3.0	3.0	1928	$23,000	$11.93	25d	1	0.39mi
1000 S Pointe Dr #904 Miami Beach, FL	3.0	3.0	2190	$19,000	$8.68	25d	1	0.58mi
1 Collins Ave #602 Miami Beach, FL	3.0	3.5	1928	$23,000	$11.93	2d	1	0.65mi
101 Ocean Dr #907 Miami Beach, FL	3.0	3.0	2717	$35,000	$12.88	25d	1	0.65mi
300 S Pointe Dr Miami Beach, FL	2.0–3.0	2.5	2000	$21,000	$10.50	3d	2	0.69mi
300 S Pointe Dr #3502 Miami Beach, FL	3.0	2.5	1960	$21,000	$10.71	3d	1	0.69mi
50 S Pointe Dr Miami Beach, FL	2.0–3.0	2.0–4.5	2236	$49,000	$21.91	21d	4	0.74mi
50 S Pointe Dr Unit LOFT5 Miami Beach, FL	3.0	3.5	1546	$22,500	$14.55	2d	1	0.74mi
50 S Pointe Dr Unit TWN1 Miami Beach, FL	3.0	3.5	2478	$32,000	$12.91	25d	1	0.74mi
50 S Pointe Dr Unit TWN2 Miami Beach, FL	4.0	4.0	2470	$29,000	$11.74	25d	1	0.74mi
50 S Pointe Dr Miami Beach, FL	2.0–3.0	2.0–4.5	2236	$49,000	$21.91	3d	6	0.74mi
50 S Pointe Dr Miami Beach, FL	2.0–3.0	2.5–4.5	2236	$49,000	$21.91	19d	3	0.74mi
100 S Pointe Dr Miami Beach, FL	3.0	3.5	1870	$27,000	$14.44	25d	1	0.78mi
1602 Meridian Ave Miami Beach, FL	4.0	1.0–3.0	917	$21,835	$23.80	15d	1	0.86mi
100 S Pointe Dr Unit TH13 Miami Beach, FL	3.0	3.5	2202	$22,000	$9.99	25d	1	0.87mi
100 S Pointe Dr #610 Miami Beach, FL	3.0	3.0	2122	$20,000	$9.43	25d	1	0.87mi
100 S Pointe Dr #604 Miami Beach, FL	3.0	3.0	2292	$22,500	$9.82	25d	1	0.87mi
1455 Ocean Dr Miami Beach, FL	2.0–3.0	2.5–4.5	1975	$20,000	$10.13	3d	2	0.94mi
1500 Ocean Dr #1202 Miami Beach, FL	3.0	3.5	2320	$20,000	$8.62	22d	1	0.94mi
2211 Fisher Island Dr #3101 Miami Beach, FL	3.0	3.5	2744	$28,000	$10.20	25d	1	1.08mi
4924 Fisher Island Dr #4924 Miami Beach, FL	3.0	3.5	2740	$28,000	$10.22	25d	1	1.18mi
1800 Sunset Harbour Dr Unit 1102/4 Miami Beach, FL	4.0	4.0	2246	$20,000	$8.90	25d	1	1.24mi
1800 Sunset Harbour Dr Unit 1102/4 Miami Beach, FL	4.0	4.0	2246	$20,000	$8.90	3d	1	1.24mi
2442 Fisher Island Dr #5402 Miami Beach, FL	3.0	3.5	2234	$40,000	$17.91	25d	1	1.27mi
2416 Fisher Island Dr #5106 Miami Beach, FL	4.0	4.5	2858	$45,000	$15.75	25d	1	1.27mi
2331 Fisher Island Dr #4301 Miami Beach, FL	3.0	3.5	2744	$27,800	$10.13	25d	1	1.27mi
2134 Fisher Island Dr #2134 Miami Beach, FL	3.0	3.5	2744	$30,000	$10.93	25d	1	1.30mi
19112 Fisher Island Dr #19112 Miami Beach, FL	3.0	3.5	2049	$18,900	$9.22	25d	1	1.33mi
1443 W 21st St Miami Beach, FL	4.0	3.0	2455	$30,000	$12.22	22d	1	1.41mi
101 20th St Miami Beach, FL	2.0–3.0	2.0–3.0	1867	$36,500	$19.55	25d	6	1.44mi
101 20th St Miami Beach, FL	2.0–3.0	2.0–3.0	1867	$36,500	$19.55	22d	5	1.44mi
116 W 1st Ct Miami Beach, FL	4.0	4.0	2431	$30,000	$12.34	25d	1	1.49mi

Listing history 9 events

1. 2026-06-18
   days on market $2,850,000 Active 14 DOM
2. 2026-06-17
   days on market $2,850,000 Active 13 DOM
3. 2026-06-16
   days on market $2,850,000 Active 12 DOM
4. 2026-06-15
   days on market $2,850,000 Active 11 DOM
5. 2026-06-13
   days on market $2,850,000 Active 9 DOM
6. 2026-06-09
   days on market $2,850,000 Active 5 DOM
7. 2026-06-08
   days on market $2,850,000 Active 4 DOM
8. 2026-06-07
   remarks 691-char remark
9. 2026-06-07
   listed $2,850,000 Active 3 DOM

ⓘ 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: $25,994 · $2,166/mo
• Projected year-2 tax: $25,994 · $2,166/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $433,008
• − Mortgage interest: −$159,644
• − Property taxes: −$25,994
• − Insurance: −$14,250
• − Repairs & maintenance: −$34,641
• − Management: −$34,641
• − Depreciation: −$82,909
• Taxable income: $80,930
• Est. tax owed @ 24.0%: −$19,423
• After-tax cash flow: $103,061/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): 33,753
• Household income: $69,793
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 4052.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% White 40% Two or more races 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 15% Salvadoran 3%
• Common ancestry: Lithuanian 3% Scotch-Irish 2% Romanian 2%
• Foreign-born: 56% · Canada, Jamaica, Dominican Republic
• Languages at home: 37% English-only · Spanish 49% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▼ -2.19%
• Current HPI: 277.9321
• Rent YoY: ▼ -0.36%
• 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

+4650.0% since first listed

10 events — show timeline

• 2026-06-04 Listed $2,850,000 MARMLS
• 2012-04-20 Sold (MLS) $549,000 MARMLS
• 2012-04-20 Sold (Public Records) $549,000 Public Records
• 2011-12-18 Listed $549,000 MARMLS
• 2001-02-07 Sold (Public Records) $280,000 Public Records
• 2000-09-15 Sold (Public Records) $277,000 Public Records
• 1996-03-27 Sold (Public Records) $285,000 Public Records
• 1984-11-01 Sold (Public Records) $89,000 Public Records
• 1980-12-01 Sold (Public Records) $104,000 Public Records
• 1979-07-01 Sold (Public Records) $60,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $25,994 · -11.2% YoY. Source: county tax records.