610 8th St #102 · Miami Beach, FL 33139

$299,000

2 bd · 2.0 ba · 790 sqft · Condo public records · 38 Days on market

Built 1994 $896/mo HOA · 21% of rent

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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 +21.0/30.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 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

Beautifully remodeled Art Deco 2 bed / 2 bath condo in the heart of Miami Beach. A true standout feature is the assigned parking space — an incredible and hard-to-find luxury in this prime location. The unit also includes in-unit washer and dryer for added convenience. Just 3 blocks walking distance to the beach and Lincoln Road, near top restaurants, shopping, and entertainment. Priced reduced for a quick sale, cash deal only, and seller highly motivated!

Key facts

• Near shopping
• Near entertainment
• Near top restaurants

Tags

• ASSIGNED PARKING SPACE
• IN-UNIT WASHER AND DRYER
• WALKING DISTANCE TO THE BEACH
• NEAR TOP RESTAURANTS
• NEAR SHOPPING
• NEAR ENTERTAINMENT

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee of $896; Association fee covers water, sewer and trash

Exterior

• Parking: Attached garage with 1 covered space
• Security: Complex is fenced
• Utilities: Water service included in association fee; Sewer service included in association fee; Trash service included in association fee; Electric service
• Home design: 2-story property; Entry level: 1
• Construction: Block construction; Resale property
• Exterior features: Patio; Barbecue area; Fenced complex

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: First-floor entry; Living/dining room; Bedroom on main level
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-4 ($-48/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (0.2% below list).
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $4,358/mo this rent would consume 75% 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 $7k 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 38 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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 8→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,030 (3.0% 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 38 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 5.7

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: -16.3%
• Equity multiple: 0.40×
• Total profit: $-50,283
• Equity at exit: $55,520

10-year hold

• IRR: -17.3%
• Equity multiple: 0.04×
• Total profit: $-80,676
• Equity at exit: $45,038

Cash invested: $83,720 (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 33139

• Home prices YoY: -0.8%
• Rents YoY: -0.4%
• Active inventory: 1208
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $4,358 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$432 /mo · $5,178/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$896
• Vacancy / Maint / Mgmt: −$915
• Net cashflow: $-4

Break-even live

Break-even rent $4,363

Max offer price $298,286

Occupancy floor 95%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1602 Meridian Ave Miami Beach, FL	4.0	1.0–3.0	917	$11,900	$12.97	14d	1	0.80mi
2201 Collins Ave Miami Beach, FL	1.0–3.0	1.0–2.0	1121	$22,500	$20.06	24d	2	1.43mi
15713 Fisher Island Dr #15713 Miami Beach, FL	2.0	1.5	670	$20,000	$29.85	24d	1	1.48mi

HOA detail condo

• Monthly dues: $896 · $10,752/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $299,000 Active 38 DOM
2. 2026-06-17
   days on market $299,000 Active 37 DOM
3. 2026-06-16
   days on market $299,000 Active 36 DOM
4. 2026-06-15
   days on market $299,000 Active 35 DOM
5. 2026-06-13
   days on market $299,000 Active 33 DOM
6. 2026-06-09
   days on market $299,000 Active 29 DOM
7. 2026-06-08
   days on market $299,000 Active 28 DOM
8. 2026-06-07
   days on market $299,000 Active 27 DOM
9. 2026-06-04
   days on market $299,000 Active 24 DOM
10. 2026-06-03
    days on market $299,000 Active 23 DOM
11. 2026-06-02
    days on market $299,000 Active 22 DOM
12. 2026-06-01
    days on market $299,000 Active 21 DOM
13. 2026-05-31
    days on market $299,000 Active 20 DOM
14. 2026-05-11
    listed $299,000 Active
15. 2026-04-01
    status Pending
16. 2026-04-01
    historical
17. 2026-03-17
    price $329,000
18. 2026-03-01
    listed $335,000 Active
19. 2025-06-30
    price $349,000
20. 2024-12-19
    price $359,000
21. 2024-11-08
    price $365,000
22. 2024-11-02
    listed $367,000 Active
23. 2024-11-01
    historical
24. 2024-10-03
    price $367,000
25. 2024-08-09
    price $379,000
26. 2024-07-15
    price $389,000
27. 2024-06-29
    listed $399,000 Active
28. 2023-08-11
    historical $3,000
29. 2023-08-01
    soldstatus $335,900
30. 2023-07-27
    price $3,000
31. 2023-07-25
    price $3,100
32. 2023-07-22
    listed $3,200
33. 2023-07-14
    soldstatus $335,900
34. 2023-01-19
    listed $335,900
35. 2017-07-28
    historical
36. 2016-12-28
    price $319,999
37. 2016-07-30
    listed $339,900 Active
38. 2011-02-01
    soldstatus $136,000
39. 2001-10-10
    soldstatus $145,000
40. 1995-03-01
    soldstatus $95,000

ⓘ 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: $5,178 · $432/mo
• Projected year-2 tax: $5,178 · $432/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: $52,292
• − Mortgage interest: −$16,749
• − Property taxes: −$5,178
• − Insurance: −$6,614
• − Repairs & maintenance: −$4,183
• − Management: −$4,183
• − HOA: −$10,752
• − Depreciation: −$8,698
• Taxable loss: −$4,065
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $927/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

+214.7% since first listed

27 events — show timeline

• 2026-05-11 Listed $299,000 MARMLS
• 2026-04-01 Pending — MARMLS
• 2026-04-01 Listing Removed — MARMLS
• 2026-03-17 Price Changed $329,000 MARMLS
• 2026-03-01 Listed $335,000 MARMLS
• 2025-06-30 Price Changed $349,000 MARMLS
• 2024-12-19 Price Changed $359,000 MARMLS
• 2024-11-08 Price Changed $365,000 MARMLS
• 2024-11-02 Listed $367,000 MARMLS
• 2024-11-01 Listing Removed — MARMLS
• 2024-10-03 Price Changed $367,000 MARMLS
• 2024-08-09 Price Changed $379,000 MARMLS
• 2024-07-15 Price Changed $389,000 MARMLS
• 2024-06-29 Listed $399,000 MARMLS
• 2023-08-11 Rental Removed $3,000 MARMLS
• 2023-08-01 Sold (Public Records) $335,900 Public Records
• 2023-07-27 Price Changed $3,000 MARMLS
• 2023-07-25 Price Changed $3,100 MARMLS
• 2023-07-22 Listed for Rent $3,200 MARMLS
• 2023-07-14 Sold (MLS) $335,900 Beaches MLS
• 2023-01-19 Listed $335,900 Beaches MLS
• 2017-07-28 Listing Removed — MARMLS
• 2016-12-28 Price Changed $319,999 MARMLS
• 2016-07-30 Listed $339,900 MARMLS
• 2011-02-01 Sold (MLS) $136,000 MARMLS
• 2001-10-10 Sold (Public Records) $145,000 Public Records
• 1995-03-01 Sold (Public Records) $95,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $5,178 · -0.2% YoY. Source: county tax records.