None · Miami, FL 33137

$305,000

1 bd · 1.0 ba · 728 sqft · Condo public records · 946 Days on market

Built 1974 $699/mo HOA · 18% 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 +20.5/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Appreciation +5.1/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

BEAUTIFUL BOUTIQUE BUILDING WITH CLASSIC FLORIDA ARCHITECTURE DESIGN IN EDGEWATER. EXCELLENT LOCATION WITH CLOSE PROXIMITY TO ARENA, BAYSIDE, WYNWOOD, MIDTOWN, DESIGN DISTRICT AND DOWNTOWN. SPACIOUS UNIT WITH A LARGE MASTER BEDROOM AND OPEN FLOOR PLAN. REAL WOOD FLOORS IN THE LIVING AREA AND CARPET IN THE BEDROOM. OPEN BALCONY WITH BAY VIEW. DEAD END STREET FACING THE BAY. ACCESS TO WALKING PATH ALONG THE BAY. ENCLOSED PARKING WITH ONE ASSIGNED SPACE INCLUDED AS WELL AS FREE STREET PARKING. BUILDING HAS RESERVES. 24 HOUR NOTICE FOR SHOWINGS.

Key facts

• $699 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee of $699; Association covers insurance, grounds maintenance, pool(s), sewer, trash and water; Community amenities include clubhouse, laundry, pool, trash service, and elevators

Exterior

• Parking: Assigned parking; Garage door opener; One covered garage space (1-car garage)
• Security: Key card entry
• Utilities: Electric service; Sewer included in association; Water included in association
• Home design: Attached property; 7-story building; Entry on level 5; Effective year built
• Construction: Block construction
• Exterior features: Association pool; Complex fenced; Has view

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Hardwood; Vinyl; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Exterior lighting; Security/high-impact doors; Storm/security shutters; Smoke detector(s)
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $-26 ($-317/yr) — negative.
• To cash-flow at today's rent, offer at most $300k (1.5% below list).
• Meets the 1% rule at list price ($4k rent vs $305k).
• Recommended offer: $268k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Market conditions: Rents rising (+2.7%/yr); 757 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 $3,985/mo this rent would consume 51% of the median local household income ($94k/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 $3k of equity ($2k loan paydown + $829 appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 946 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,400 (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 946 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
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: 1.31% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.62%
• DSCR: 1.25
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.92×
• Total profit: $-7,048
• Equity at exit: $92,732

10-year hold

• IRR: 3.7%
• Equity multiple: 1.41×
• Total profit: $34,692
• Equity at exit: $114,852

Cash invested: $85,400 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,985 medium
• Mortgage (P&I): −$1,599
• Tax from tax record: −$323 /mo · $3,874/yr
• Insurance: −$127
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$699
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $-26

Break-even live

Break-even rent $4,019

Max offer price $300,338

Occupancy floor 96%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Biscayne Blvd Miami, FL	3.0	1.0–3.5	1260	$8,110	$6.44	2d	13	0.33mi

HOA detail condo

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

Listing history 32 events

1. 2026-06-18
   days on market $305,000 Active 946 DOM
2. 2026-06-17
   days on market $305,000 Active 945 DOM
3. 2026-06-16
   days on market $305,000 Active 944 DOM
4. 2026-06-15
   days on market $305,000 Active 943 DOM
5. 2026-06-13
   days on market $305,000 Active 941 DOM
6. 2026-06-09
   days on market $305,000 Active 937 DOM
7. 2026-06-08
   days on market $305,000 Active 936 DOM
8. 2026-06-08
   days on market $305,000 Active 935 DOM
9. 2026-06-04
   days on market $305,000 Active 932 DOM
10. 2026-06-03
    days on market $305,000 Active 931 DOM
11. 2026-06-02
    days on market $305,000 Active 930 DOM
12. 2026-06-01
    days on market $305,000 Active 929 DOM
13. 2026-05-31
    days on market $305,000 Active 928 DOM
14. 2025-08-12
    price $305,000
15. 2024-12-16
    price $320,000
16. 2023-11-15
    listed $325,000 Active
17. 2023-11-09
    price $325,000
18. 2023-11-09
    status Active
19. 2023-11-09
    historical
20. 2023-08-01
    status Pending
21. 2023-02-15
    status Active
22. 2023-02-02
    status Pending
23. 2022-11-22
    listed $305,000 Active
24. 2022-08-26
    soldstatus $275,000
25. 2022-08-09
    historical 547-char remark

    Show marketing remark (547 chars)

    BEAUTIFUL BOUTIQUE BUILDING WITH CLASSIC FLORIDA ARCHITECTURE DESIGN IN EDGEWATER. EXCELLENT LOCATION WITH CLOSE PROXIMITY TO ARENA, BAYSIDE, WYNWOOD, MIDTOWN, DESIGN DISTRICT AND DOWNTOWN. SPACIOUS UNIT WITH A LARGE MASTER BEDROOM AND OPEN FLOOR PLAN. REAL WOOD FLOORS IN THE LIVING AREA AND CARPET IN THE BEDROOM. OPEN BALCONY WITH BAY VIEW. DEAD END STREET FACING THE BAY. ACCESS TO WALKING PATH ALONG THE BAY. ENCLOSED PARKING WITH ONE ASSIGNED SPACE INCLUDED AS WELL AS FREE STREET PARKING. BUILDING HAS RESERVES. 24 HOUR NOTICE FOR SHOWINGS.

26. 2022-07-26
    soldstatus $275,000 Closed 547-char remark

    Show marketing remark (547 chars)

    BEAUTIFUL BOUTIQUE BUILDING WITH CLASSIC FLORIDA ARCHITECTURE DESIGN IN EDGEWATER. EXCELLENT LOCATION WITH CLOSE PROXIMITY TO ARENA, BAYSIDE, WYNWOOD, MIDTOWN, DESIGN DISTRICT AND DOWNTOWN. SPACIOUS UNIT WITH A LARGE MASTER BEDROOM AND OPEN FLOOR PLAN. REAL WOOD FLOORS IN THE LIVING AREA AND CARPET IN THE BEDROOM. OPEN BALCONY WITH BAY VIEW. DEAD END STREET FACING THE BAY. ACCESS TO WALKING PATH ALONG THE BAY. ENCLOSED PARKING WITH ONE ASSIGNED SPACE INCLUDED AS WELL AS FREE STREET PARKING. BUILDING HAS RESERVES. 24 HOUR NOTICE FOR SHOWINGS.

27. 2022-06-15
    historical Active Under Contract 547-char remark

    Show marketing remark (547 chars)

    BEAUTIFUL BOUTIQUE BUILDING WITH CLASSIC FLORIDA ARCHITECTURE DESIGN IN EDGEWATER. EXCELLENT LOCATION WITH CLOSE PROXIMITY TO ARENA, BAYSIDE, WYNWOOD, MIDTOWN, DESIGN DISTRICT AND DOWNTOWN. SPACIOUS UNIT WITH A LARGE MASTER BEDROOM AND OPEN FLOOR PLAN. REAL WOOD FLOORS IN THE LIVING AREA AND CARPET IN THE BEDROOM. OPEN BALCONY WITH BAY VIEW. DEAD END STREET FACING THE BAY. ACCESS TO WALKING PATH ALONG THE BAY. ENCLOSED PARKING WITH ONE ASSIGNED SPACE INCLUDED AS WELL AS FREE STREET PARKING. BUILDING HAS RESERVES. 24 HOUR NOTICE FOR SHOWINGS.

28. 2022-06-03
    listed $275,000 Active 547-char remark

    Show marketing remark (547 chars)

    BEAUTIFUL BOUTIQUE BUILDING WITH CLASSIC FLORIDA ARCHITECTURE DESIGN IN EDGEWATER. EXCELLENT LOCATION WITH CLOSE PROXIMITY TO ARENA, BAYSIDE, WYNWOOD, MIDTOWN, DESIGN DISTRICT AND DOWNTOWN. SPACIOUS UNIT WITH A LARGE MASTER BEDROOM AND OPEN FLOOR PLAN. REAL WOOD FLOORS IN THE LIVING AREA AND CARPET IN THE BEDROOM. OPEN BALCONY WITH BAY VIEW. DEAD END STREET FACING THE BAY. ACCESS TO WALKING PATH ALONG THE BAY. ENCLOSED PARKING WITH ONE ASSIGNED SPACE INCLUDED AS WELL AS FREE STREET PARKING. BUILDING HAS RESERVES. 24 HOUR NOTICE FOR SHOWINGS.

29. 2006-12-05
    soldstatus $209,000
30. 2005-03-14
    soldstatus $190,000
31. 2002-05-09
    soldstatus $53,000
32. 1974-07-01
    soldstatus $29,000

ⓘ 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: $3,874 · $323/mo
• Projected year-2 tax: $3,874 · $323/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 · 25 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: $47,825
• − Mortgage interest: −$17,085
• − Property taxes: −$3,874
• − Insurance: −$6,644
• − Repairs & maintenance: −$3,826
• − Management: −$3,826
• − HOA: −$8,388
• − Depreciation: −$8,873
• Taxable loss: −$4,689
• Est. tax savings @ 24.0%: +$1,125
• After-tax cash flow: $809/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% 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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% 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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+951.7% since first listed

19 events — show timeline

• 2025-08-12 Price Changed $305,000 MARMLS
• 2024-12-16 Price Changed $320,000 MARMLS
• 2023-11-15 Listed $325,000 MARMLS
• 2023-11-09 Price Changed $325,000 MARMLS
• 2023-11-09 Relisted — MARMLS
• 2023-11-09 Listing Removed — MARMLS
• 2023-08-01 Pending — MARMLS
• 2023-02-15 Relisted — MARMLS
• 2023-02-02 Pending — MARMLS
• 2022-11-22 Listed $305,000 MARMLS
• 2022-08-26 Sold (Public Records) $275,000 Public Records
• 2022-08-09 Listing Removed — MARMLS
• 2022-07-26 Sold (MLS) $275,000 MARMLS
• 2022-06-15 Contingent — MARMLS
• 2022-06-03 Listed $275,000 MARMLS
• 2006-12-05 Sold (Public Records) $209,000 Public Records
• 2005-03-14 Sold (Public Records) $190,000 Public Records
• 2002-05-09 Sold (Public Records) $53,000 Public Records
• 1974-07-01 Sold (Public Records) $29,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $3,874 · -0.2% YoY. Source: county tax records.