244 Biscayne Blvd #2306 · Miami, FL 33132

$379,000

1 bd · 1.0 ba · 806 sqft · Condo public records · 152 Days on market

Built 2008 $986/mo HOA · 24% of rent

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Why this score? — see what drove the D 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 +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Appreciation +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks

* * Motivated seller * * Welcome to your luxurious urban oasis in the heart of Downtown Miami! This stunning 1-bedroom, 1-bathroom condo features top-of-the-line finishes, including granite countertops and stainless steel appliances. Includes 1 assigned parking space. The building offers exceptional amenities such as a clubhouse, 24-hour concierge, business center, sauna, Jacuzzi, sun deck, and much more! Located within walking distance of Kaseya Center and Bay-front Park, and just 5 minutes from Brickell and the Adrienne Arsht Center. Short-term rentals allowed: minimum 30 days, up to 12 times per year * * Seller will pay the special assessments at closing * * For showings, please TEXT

Key facts

• Business center
• Clubhouse
• Private balcony

Tags

• PRIVATE BALCONY
• ASSIGNED PARKING SPACE
• EXCEPTIONAL AMENITIES
• CLUBHOUSE
• BUSINESS CENTER
• SAUNA

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee includes cable TV; Community amenities: clubhouse, fitness center, pool, sauna, spa/hot tub, elevators

Exterior

• Parking: Covered garage parking with one assigned space; Garage door opener; Secured garage/parking
• Security: Secured lobby; Elevator secured; Intercom; Smoke detectors
• Utilities: Cable available
• Home design: Attached property (condominium); Resale unit; High-rise building (multiple stories)
• Construction: Block construction
• Exterior features: Bayfront waterfront; Association pool; Security/high impact doors

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Separate shower; First-floor entry
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $379k.

Deal economics

• At list price, monthly cash flow is $-478 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (22.3% below list).
• Meets the 1% rule at list price ($4k rent vs $379k).
• Recommended offer: $295k (22.3% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 1.9% in Miami — 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, 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.
• Zoned schools: Frederick R. Douglass Elementary (math 12% / reading 22%, grade F, #2,121 of 2,144 statewide, top 99%, 221 students, 76% FRL); Jose De Diego Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 868 students, 68% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Zoned-school proficiency averages 18% at this address vs 50% district-wide (-31 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 882 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,101/mo this rent would consume 45% of the median local household income ($109k/yr) (locally 2260% 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 (-2.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 13937% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,640 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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 B-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.08% ✓
• Cap rate: 4.99%
• Cash-on-cash: -4.65%
• DSCR: 0.79
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.52% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.13×
• Total profit: $-92,647
• Equity at exit: $64,559

10-year hold

• IRR: -28.7%
• Equity multiple: -0.38×
• Total profit: $-146,046
• Equity at exit: $46,764

Cash invested: $106,120 (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 33132

• Home prices YoY: -0.8%
• Rents YoY: 0.7%
• Active inventory: 882
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $4,101 medium
• Mortgage (P&I): −$1,988
• Tax from tax record: −$520 /mo · $6,235/yr
• Insurance: −$158
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$986
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $-478

Break-even live

Break-even rent $4,706

Max offer price $294,640

Occupancy floor —

Sensitivity live

Price	-10% $-263	-5% $-370	+0% $-478	+5% $-585	+10% $-692
Rent	-10% $-802	-5% $-640	+0% $-478	+5% $-316	+10% $-154
Rate	-1.0pp $-287	-0.5pp $-381	base $-478	+0.5pp $-576	+1.0pp $-676

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	0.30mi

HOA detail condo

• Monthly dues: $986 · $11,832/yr
• Likely covers: doormanparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-05
   status Pending
2. 2026-02-05
   historical $2,550
3. 2026-01-31
   price $2,550
4. 2026-01-29
   price $379,000
5. 2025-12-31
   listed $2,700
6. 2025-12-04
   listed $386,900 Active
7. 2025-12-04
   historical
8. 2025-11-27
   historical $2,800
9. 2025-11-26
   price $394,000
10. 2025-11-26
    listed $2,800
11. 2025-11-21
    historical $2,800
12. 2025-11-12
    listed $2,800
13. 2025-10-03
    price $399,000
14. 2025-08-12
    listed $410,000 Active

ⓘ 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: $6,235 · $520/mo
• Projected year-2 tax: $6,235 · $520/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 7/10 Severe FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 22 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: $49,214
• − Mortgage interest: −$21,230
• − Property taxes: −$6,235
• − Insurance: −$2,692
• − Repairs & maintenance: −$3,937
• − Management: −$3,937
• − HOA: −$11,832
• − Depreciation: −$11,025
• Taxable loss: −$11,675
• Est. tax savings @ 24.0%: +$2,802
• After-tax cash flow: $-2,929/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

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,253
• Household income: $109,109
• Rent vs Own: 74.3% rent · 25.7% own
• Severe rent burden: 2260.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 39% White 29% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 9% Dominican 2% Salvadoran 1%
• Common ancestry: Estonian 2% Scotch-Irish 2% Romanian 1%
• Foreign-born: 50% · Canada, Jamaica, Dominican Republic
• Languages at home: 35% English-only · Spanish 49% Other Indo-European 6% Other Asian/Pacific 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: ▼ -2.52%
• Current HPI: 294.3744
• Rent YoY: ▲ 0.74%
• 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

-99.4% since first listed

14 events — show timeline

• 2026-05-05 Pending — MARMLS
• 2026-02-05 Rental Removed $2,550 MARMLS
• 2026-01-31 Price Changed $2,550 MARMLS
• 2026-01-29 Price Changed $379,000 MARMLS
• 2025-12-31 Listed for Rent $2,700 MARMLS
• 2025-12-04 Listing Removed — MARMLS
• 2025-12-04 Listed $386,900 MARMLS
• 2025-11-27 Rental Removed $2,800 MARMLS
• 2025-11-26 Price Changed $394,000 MARMLS
• 2025-11-26 Listed for Rent $2,800 MARMLS
• 2025-11-21 Rental Removed $2,800 MARMLS
• 2025-11-12 Listed for Rent $2,800 MARMLS
• 2025-10-03 Price Changed $399,000 MARMLS
• 2025-08-12 Listed $410,000 MARMLS

Property tax history

+2.4%/yr

Latest (2025): $6,235 · +5.6% YoY. Source: county tax records.