19380 Collins Ave Apt 504 · Sunny Isles Beach, FL 33160

$438,000

2 bd · 2.0 ba · 1,505 sqft · Condo public records · 21 Days on market

Built 1972

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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).

• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• 1% rule +5.3/10.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0

Listing remarks MLS

Large 2 Bedrooms & 2 Bathrooms Apartment, 1 block from the Beach. Wonderful Pools, Tennis Courts, Golden Beach & Ocean Views. 3 Walking Closet and much more. Maintenance includes Basic Cable and Basic Internet. Totally upgraded Building with Fitness Center, Tennis Courts, Heated Pool and Business Center. It's within minutes of Aventura Mall, Restaurants and Gulfstream Park Race Track & Casino.

Key facts

• Porcelain floors
• 24/7 security
• Valet

Tags

• NEW STAINLESS STEEL APPLIANCES
• PORCELAIN FLOORS
• HURRICANE IMPACT WINDOWS
• 24/7 SECURITY
• VALET
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $438k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $438k).
• Recommended offer: $431k (1.5% below list) — sets the bar for market timing.
• Cap rate 4.5% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, 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 flat; 1870 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,500/mo this rent would consume 81% of the median local household income ($67k/yr) (locally 3106% 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 $5k of equity ($3k loan paydown + $2k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $295k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,430 (1.5% 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. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.03% ✓
• Cap rate: 4.54%
• Cash-on-cash: -6.26%
• DSCR: 0.72
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.37×
• Total profit: $-77,856
• Equity at exit: $138,843

10-year hold

• IRR: -8.8%
• Equity multiple: 0.05×
• Total profit: $-116,841
• Equity at exit: $176,512

Cash invested: $122,640 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,297
• Tax from tax record: −$477 /mo · $5,724/yr
• Insurance: −$182
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 11 same-building comps: −$1,238
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $-1,066

Break-even live

Break-even rent $5,849

Max offer price $249,632

Occupancy floor —

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: $109,500
• Closing costs: $13,140
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17875 Collins Ave Sunny Isles Beach, FL	3.0	3.0	2122	$22,000	$10.37	11d	3	0.99mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	5d	1	1.39mi
17141 Collins Ave Sunny Isles Beach, FL	3.0	2.5	2042	$19,000	$9.30	24d	1	1.39mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	8d	1	1.39mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$3,650	$2.84	24d	3	1.44mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$3,750	$2.97	21d	2	1.44mi
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	8d	1	1.44mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	2d	2	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: internetcablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $438,000 Active 21 DOM
2. 2026-06-17
   days on market $438,000 Active 20 DOM
3. 2026-06-16
   days on market $438,000 Active 19 DOM
4. 2026-06-15
   days on market $438,000 Active 18 DOM
5. 2026-06-13
   days on market $438,000 Active 16 DOM
6. 2026-06-09
   days on market $438,000 Active 12 DOM
7. 2026-06-08
   days on market $438,000 Active 11 DOM
8. 2026-06-08
   days on market $438,000 Active 10 DOM
9. 2026-06-04
   days on market $438,000 Active 7 DOM
10. 2026-06-03
    days on market $438,000 Active 6 DOM
11. 2026-06-02
    days on market $438,000 Active 5 DOM
12. 2026-06-01
    days on market $438,000 Active 4 DOM
13. 2026-05-31
    remarks 646-char remark
14. 2026-05-31
    listed $438,000 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: $5,724 · $477/mo
• Projected year-2 tax: $5,724 · $477/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 · 24 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: $53,995
• − Mortgage interest: −$24,535
• − Property taxes: −$5,724
• − Insurance: −$7,309
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$14,856
• − Depreciation: −$12,742
• Taxable loss: −$19,810
• Est. tax savings @ 24.0%: +$4,754
• After-tax cash flow: $-8,041/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles Beach, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 34,147
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% 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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+0.7% since first listed

9 events — show timeline

• 2026-05-22 Listed $438,000 Fizber.com
• 2014-12-24 Sold (Public Records) $295,000 Public Records
• 2014-12-19 Listing Removed — Beaches MLS
• 2014-12-12 Sold (MLS) $295,000 Beaches MLS
• 2014-11-19 Pending — Beaches MLS
• 2014-09-29 Listed $320,000 Beaches MLS
• 2014-08-13 Sold (Public Records) $290,000 Public Records
• 2010-07-12 Sold (MLS) $160,113 MARMLS
• 2006-03-01 Sold (Public Records) $435,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $5,724 · +7.1% YoY. Source: county tax records.