844 Jefferson Ave #2 · Miami Beach, FL 33139

$260,000

1 bd · 1.0 ba · 780 sqft · Condo public records · 154 Days on market

Built 1935 $613/mo HOA · 16% 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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• 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

Listing remarks MLS

LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

Key facts

• $613 HOA
• Parking
• Built 1935

Tags

• FIRST FLOOR APARTMENT
• WELL INTEGRATED KITCHEN
• CLOSE PROXIMITY TO LOCAL SHOPS
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO BEACH

Property features AI

Finance

• Other: Annual tax information available (details excluded per instructions)
• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $613; HOA covers water, sewer and trash; Community amenities include barbecue and picnic area

Exterior

• Parking: Assigned parking
• Security: Complex fenced
• Utilities: Cooling present
• Home design: 2 stories; Entry on level 1; Resale property
• Construction: Updated/remodeled (no year built provided)
• Exterior features: Courtyard; Complex is fenced

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Clay flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units
• Interior features: Blinds; Impact glass windows; Bedroom on main level; First-floor entry; Updated/remodeled condition
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,910/mo this rent would consume 67% 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 $2k of loan paydown is wiped out by about $6k 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 154 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y ago; this cycle's ask is 10733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $215k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 8→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1935 — 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: 1.50% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• GRM: 5.5

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: -12.7%
• Equity multiple: 0.53×
• Total profit: $-34,365
• Equity at exit: $48,278

10-year hold

• IRR: -11.9%
• Equity multiple: 0.30×
• Total profit: $-50,959
• Equity at exit: $39,163

Cash invested: $72,800 (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: 5.5×

Monthly cashflow live

• Estimated rent: $3,910 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$428 /mo · $5,140/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$613
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $150

Break-even live

Break-even rent $3,721

Max offer price $260,000

Occupancy floor 91%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1602 Meridian Ave Miami Beach, FL	4.0	1.0–3.0	917	$6,932	$7.56	15d	1	0.71mi
2201 Collins Ave Miami Beach, FL	1.0–3.0	1.0–2.0	1121	$22,000	$19.62	24d	2	1.45mi

HOA detail condo

• Monthly dues: $613 · $7,356/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $260,000 Active 154 DOM
2. 2026-06-17
   days on market $260,000 Active 153 DOM
3. 2026-06-16
   days on market $260,000 Active 152 DOM
4. 2026-06-15
   days on market $260,000 Active 151 DOM
5. 2026-06-13
   days on market $260,000 Active 149 DOM
6. 2026-06-09
   days on market $260,000 Active 145 DOM
7. 2026-06-08
   days on market $260,000 Active 144 DOM
8. 2026-06-07
   days on market $260,000 Active 143 DOM
9. 2026-06-04
   days on market $260,000 Active 140 DOM
10. 2026-06-03
    days on market $260,000 Active 139 DOM
11. 2026-06-02
    days on market $260,000 Active 138 DOM
12. 2026-06-01
    days on market $260,000 Active 137 DOM
13. 2026-05-31
    days on market $260,000 Active 136 DOM
14. 2026-04-27
    price $260,000
15. 2026-03-31
    listed $2,400
16. 2026-03-09
    price $276,000
17. 2026-01-15
    listed $280,000 Active
18. 2020-05-26
    historical
19. 2020-02-15
    status Active
20. 2020-01-17
    historical Hold
21. 2019-06-18
    price $258,000
22. 2019-06-18
    listed $250,000 Active
23. 2018-01-03
    soldstatus $215,000
24. 2017-12-22
    soldstatus $215,000 Sold 802-char remark

    Show marketing remark (802 chars)

    LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

25. 2017-12-08
    status Backup Contract 802-char remark

    Show marketing remark (802 chars)

    LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

26. 2017-11-15
    price $239,900 802-char remark

    Show marketing remark (802 chars)

    LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

27. 2017-11-13
    price $239,000 802-char remark

    Show marketing remark (802 chars)

    LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

28. 2017-10-16
    listed $249,000 Active 802-char remark

    Show marketing remark (802 chars)

    LOCATION LOCATION LOCATION! This renovated 2/1 is centrally located in the heart of South Beach! Recent upgrades include All New kitchen, new AC, installed Washer/Dryer in the unit, new impact windows, and more. Art Deco building has the history and appeal that many desire when living in South Beach. Plus, the building is secure and parking around the area isn't as bad as some other locations in South Beach. Flamingo Park, South of Fifth, the Ocean and Sands of South Beach, Lincoln Rd, Espanola Way. .. all of it is within mere blocks of your home. Currently rented to a great long time tenant on a month to month so there is flexibility for any buyer. One of the best priced units in SoBe given its renovated status. Plus, the owner would accept payment via Bitcoin, Ethereum or Ethereum Classic.

29. 2017-10-14
    historical
30. 2017-06-28
    price $249,000
31. 2017-06-13
    price $264,900
32. 2017-05-22
    price $274,900
33. 2017-04-14
    price $289,000
34. 2017-02-08
    price $299,000
35. 2017-01-12
    price $309,000
36. 2016-10-05
    price $319,000
37. 2016-05-10
    price $339,000
38. 2016-04-22
    price $349,000
39. 2016-03-23
    listed $359,000 Active
40. 2014-06-16
    soldstatus $190,000 Sold
41. 2014-04-09
    status Pending
42. 2014-03-31
    price $194,900
43. 2014-02-27
    listed $207,500 Active
44. 2014-02-25
    historical
45. 2014-02-25
    listed $199,900 Active
46. 2004-09-20
    soldstatus $175,000
47. 2001-11-20
    soldstatus $117,000
48. 1998-07-09
    soldstatus $63,000
49. 1993-07-28
    soldstatus $46,000
50. 1993-05-14
    soldstatus $37,400

ⓘ 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: $5,140 · $428/mo
• Projected year-2 tax: $5,140 · $428/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 · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥101°F today · 32 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: $46,925
• − Mortgage interest: −$14,564
• − Property taxes: −$5,140
• − Insurance: −$6,418
• − Repairs & maintenance: −$3,754
• − Management: −$3,754
• − HOA: −$7,356
• − Depreciation: −$7,564
• Taxable loss: −$1,625
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $2,184/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

+595.2% since first listed

37 events — show timeline

• 2026-04-27 Price Changed $260,000 MARMLS
• 2026-03-31 Listed for Rent $2,400 MARMLS
• 2026-03-09 Price Changed $276,000 MARMLS
• 2026-01-15 Listed $280,000 MARMLS
• 2020-05-26 Listing Removed — MARMLS
• 2020-02-15 Relisted — MARMLS
• 2020-01-17 Delisted — MARMLS
• 2019-06-18 Price Changed $258,000 MARMLS
• 2019-06-18 Listed $250,000 MARMLS
• 2018-01-03 Sold (Public Records) $215,000 Public Records
• 2017-12-22 Sold (MLS) $215,000 MARMLS
• 2017-12-08 Pending — MARMLS
• 2017-11-15 Price Changed $239,900 MARMLS
• 2017-11-13 Price Changed $239,000 MARMLS
• 2017-10-16 Listed $249,000 MARMLS
• 2017-10-14 Listing Removed — MARMLS
• 2017-06-28 Price Changed $249,000 MARMLS
• 2017-06-13 Price Changed $264,900 MARMLS
• 2017-05-22 Price Changed $274,900 MARMLS
• 2017-04-14 Price Changed $289,000 MARMLS
• 2017-02-08 Price Changed $299,000 MARMLS
• 2017-01-12 Price Changed $309,000 MARMLS
• 2016-10-05 Price Changed $319,000 MARMLS
• 2016-05-10 Price Changed $339,000 MARMLS
• 2016-04-22 Price Changed $349,000 MARMLS
• 2016-03-23 Listed $359,000 MARMLS
• 2014-06-16 Sold (MLS) $190,000 MARMLS
• 2014-04-09 Pending — MARMLS
• 2014-03-31 Price Changed $194,900 MARMLS
• 2014-02-27 Listed $207,500 MARMLS
• 2014-02-25 Listing Removed — MARMLS
• 2014-02-25 Listed $199,900 MARMLS
• 2004-09-20 Sold (Public Records) $175,000 Public Records
• 2001-11-20 Sold (Public Records) $117,000 Public Records
• 1998-07-09 Sold (Public Records) $63,000 Public Records
• 1993-07-28 Sold (Public Records) $46,000 Public Records
• 1993-05-14 Sold (Public Records) $37,400 Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,140 · +6.0% YoY. Source: county tax records.