9156 Collins Ave #502 · Surfside, FL 33154

$349,000

1 bd · 1.0 ba · 770 sqft · Condo public records · 129 Days on market

Built 1996 $699/mo HOA · 16% of rent

---

Why this score? — see what drove the C+ 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 +18.8/30.0
• Appreciation +8.1/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks MLS

Great LOCATION in Surfside ! . . . - - PRICED TO SELL ! ! ! . . . . . . Across from Beach & the new 4 Seasons ! . . . . . . with Ocean views from Balcony ! . . . . . . Enjoy or rent this spacious 1bedroom 1.5 baths ! . . . . . . with open counter Kitchen, inside clothes Washer & Dryer ! . . . . . . Walk to Bal Harbour Shops, dining, shopping, Surfside community Center and much more ! . . . . . . In a secure elevator building, with pool, sauna, High Impact glass windows ! . . . . . . OK to rent from first day ! . . . . . . pets OK ! . . . . . . LOW MAINTENANCE !

Key facts

• Tiles
• Washer and dryer
• Sauna

Tags

• TILES
• WASHER AND DRYER
• IMPACT WINDOWS
• ASSIGNED COVER PARKING
• POOL
• SAUNA

Property features AI

Finance

• Financial info: Pets allowed (size limit; maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee includes maintenance of structure; Association amenities: Pool, Elevators

Exterior

• Parking: 1 covered parking space; Garage with 1 space
• Utilities: Has heating and cooling
• Home design: Condominium (5-story building); Entry located on 5th floor
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Open balcony/porch; Complex fenced

Interior

• Kitchen: Dishwasher; Electric water heater
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Bedroom on main level
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-76 ($-912/yr) — negative.
• To cash-flow at today's rent, offer at most $336k (3.8% below list).
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $307k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#258 in FL, #4,141 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, health & safety A+; Watch: housing C-, amenities 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.
• Market conditions: Rents soft (-1.3%/yr); 523 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,358/mo this rent would consume 58% of the median local household income ($90k/yr) (locally 774% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $21k appreciation (6.1% 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 (6.1% appreciation + 0.0% rent growth), your $98k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $31k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $307,120 (12.0% 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 129 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.25% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.88×
• Total profit: $86,473
• Equity at exit: $222,138

10-year hold

• IRR: 12.5%
• Equity multiple: 3.42×
• Total profit: $236,046
• Equity at exit: $405,224

Cash invested: $97,720 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 523
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,358 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$418 /mo · $5,016/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$699
• Vacancy / Maint / Mgmt: −$915
• Net cashflow: $-76

Break-even live

Break-even rent $4,455

Max offer price $335,568

Occupancy floor 97%

Sensitivity live

Price	-10% $122	-5% $23	+0% $-76	+5% $-175	+10% $-274
Rent	-10% $-420	-5% $-248	+0% $-76	+5% $96	+10% $268
Rate	-1.0pp $100	-0.5pp $13	base $-76	+0.5pp $-166	+1.0pp $-258

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $699 · $8,388/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-15
   status $349,000 Pending 129 DOM
2. 2026-06-15
   days on market $349,000 Active 129 DOM
3. 2026-06-13
   days on market $349,000 Active 127 DOM
4. 2026-06-09
   days on market $349,000 Active 123 DOM
5. 2026-06-08
   days on market $349,000 Active 122 DOM
6. 2026-06-07
   days on market $349,000 Active 121 DOM
7. 2026-06-04
   days on market $349,000 Active 118 DOM
8. 2026-06-03
   days on market $349,000 Active 117 DOM
9. 2026-06-02
   days on market $349,000 Active 116 DOM
10. 2026-06-01
    days on market $349,000 Active 115 DOM
11. 2026-05-31
    days on market $349,000 Active 114 DOM
12. 2026-05-25
    price $349,000
13. 2026-02-05
    listed $380,000 Active
14. 2025-02-10
    historical
15. 2024-02-16
    listed $400,000 Active
16. 2021-07-02
    soldstatus $240,000 Closed 602-char remark

    Show marketing remark (602 chars)

    Great LOCATION in Surfside ! . . . - - PRICED TO SELL ! ! ! . . . . . . Across from Beach & the new 4 Seasons ! . . . . . . with Ocean views from Balcony ! . . . . . . Enjoy or rent this spacious 1bedroom 1.5 baths ! . . . . . . with open counter Kitchen, inside clothes Washer & Dryer ! . . . . . . Walk to Bal Harbour Shops, dining, shopping, Surfside community Center and much more ! . . . . . . In a secure elevator building, with pool, sauna, High Impact glass windows ! . . . . . . OK to rent from first day ! . . . . . . pets OK ! . . . . . . LOW MAINTENANCE !

17. 2021-06-10
    soldstatus $240,000
18. 2021-05-11
    historical Active Under Contract 602-char remark

    Show marketing remark (602 chars)

    Great LOCATION in Surfside ! . . . - - PRICED TO SELL ! ! ! . . . . . . Across from Beach & the new 4 Seasons ! . . . . . . with Ocean views from Balcony ! . . . . . . Enjoy or rent this spacious 1bedroom 1.5 baths ! . . . . . . with open counter Kitchen, inside clothes Washer & Dryer ! . . . . . . Walk to Bal Harbour Shops, dining, shopping, Surfside community Center and much more ! . . . . . . In a secure elevator building, with pool, sauna, High Impact glass windows ! . . . . . . OK to rent from first day ! . . . . . . pets OK ! . . . . . . LOW MAINTENANCE !

19. 2021-04-06
    status Active 602-char remark

    Show marketing remark (602 chars)

    Great LOCATION in Surfside ! . . . - - PRICED TO SELL ! ! ! . . . . . . Across from Beach & the new 4 Seasons ! . . . . . . with Ocean views from Balcony ! . . . . . . Enjoy or rent this spacious 1bedroom 1.5 baths ! . . . . . . with open counter Kitchen, inside clothes Washer & Dryer ! . . . . . . Walk to Bal Harbour Shops, dining, shopping, Surfside community Center and much more ! . . . . . . In a secure elevator building, with pool, sauna, High Impact glass windows ! . . . . . . OK to rent from first day ! . . . . . . pets OK ! . . . . . . LOW MAINTENANCE !

20. 2021-02-04
    listed $259,000 Active 602-char remark

    Show marketing remark (602 chars)

    Great LOCATION in Surfside ! . . . - - PRICED TO SELL ! ! ! . . . . . . Across from Beach & the new 4 Seasons ! . . . . . . with Ocean views from Balcony ! . . . . . . Enjoy or rent this spacious 1bedroom 1.5 baths ! . . . . . . with open counter Kitchen, inside clothes Washer & Dryer ! . . . . . . Walk to Bal Harbour Shops, dining, shopping, Surfside community Center and much more ! . . . . . . In a secure elevator building, with pool, sauna, High Impact glass windows ! . . . . . . OK to rent from first day ! . . . . . . pets OK ! . . . . . . LOW MAINTENANCE !

21. 2020-12-31
    historical
22. 2020-02-04
    historical Active Under Contract
23. 2019-11-12
    price $249,650
24. 2019-10-05
    price $265,000
25. 2019-09-18
    listed $290,000 Active
26. 1999-08-17
    soldstatus $126,500
27. 1996-10-28
    soldstatus $216,000
28. 1996-10-01
    soldstatus $216,000

ⓘ 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: $5,016 · $418/mo
• Projected year-2 tax: $5,016 · $418/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,300
• − Mortgage interest: −$19,549
• − Property taxes: −$5,016
• − Insurance: −$6,864
• − Repairs & maintenance: −$4,184
• − Management: −$4,184
• − HOA: −$8,388
• − Depreciation: −$10,153
• Taxable loss: −$6,037
• Est. tax savings @ 24.0%: +$1,449
• After-tax cash flow: $537/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 — Surfside

• Score: 75/100
• State rank: #258
• US rank: #4141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Surfside, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% Other Indo-European 5%

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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

+61.6% since first listed

17 events — show timeline

• 2026-05-25 Price Changed $349,000 MARMLS
• 2026-02-05 Listed $380,000 MARMLS
• 2025-02-10 Listing Removed — MARMLS
• 2024-02-16 Listed $400,000 MARMLS
• 2021-07-02 Sold (MLS) $240,000 MARMLS
• 2021-06-10 Sold (Public Records) $240,000 Public Records
• 2021-05-11 Contingent — MARMLS
• 2021-04-06 Relisted — MARMLS
• 2021-02-04 Listed $259,000 MARMLS
• 2020-12-31 Listing Removed — MARMLS
• 2020-02-04 Contingent — MARMLS
• 2019-11-12 Price Changed $249,650 MARMLS
• 2019-10-05 Price Changed $265,000 MARMLS
• 2019-09-18 Listed $290,000 MARMLS
• 1999-08-17 Sold (Public Records) $126,500 Public Records
• 1996-10-28 Sold (Public Records) $216,000 Public Records
• 1996-10-01 Sold (Public Records) $216,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $5,016 · +7.4% YoY. Source: county tax records.