1275 Marseille Dr #35 · Miami Beach, FL 33141

$297,000

2 bd · 2.0 ba · 990 sqft · Condo public records · 262 Days on market

Built 1948 $920/mo HOA · 23% 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 +16.6/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

Key facts

• Custom cabinetry
• Open floor plan
• New flooring

Tags

• RENOVATED CORNER CONDO
• OPEN FLOOR PLAN
• PLUMBING ELECTRICAL CENTRAL AC
• NEW FLOORING
• MODERN LIGHTING
• CUSTOM CABINETRY

Property features AI

Finance

• Other: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $920; HOA covers amenities, common area maintenance, structure maintenance, and pool(s); Community amenities include laundry and pool

Exterior

• Parking: On-street parking
• Security: Complex fenced; Fire sprinkler system
• Utilities: Cable available
• Home design: Attached property; 2 stories; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Patio; Heated pool; Canal-front waterfront

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; First-floor entry; Main living area on entry level; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $297k.

Deal economics

• At list price, monthly cash flow is $-249 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (14.8% below list).
• Meets the 1% rule at list price ($4k rent vs $297k).
• Recommended offer: $253k (14.8% below list) — sets the bar for cash-flow.
• Cap rate 7.0% 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 flat; 644 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,944/mo this rent would consume 69% of the median local household income ($69k/yr) (locally 3521% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 262 days — a 12% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask is 11108% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 23% of rent; built in 1948 — 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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,957 (14.8% 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 262 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — 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 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?
10. 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.
11. 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.
12. 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: 1.33% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.56%
• DSCR: 1.11
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -27.0%
• Equity multiple: 0.12×
• Total profit: $-73,045
• Equity at exit: $44,284

10-year hold

• IRR: -51.6%
• Equity multiple: -0.43×
• Total profit: $-119,151
• Equity at exit: $25,679

Cash invested: $83,160 (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 33141

• Rents YoY: 0.4%
• Active inventory: 644
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,944 medium
• Mortgage (P&I): −$1,558
• Tax from tax record: −$337 /mo · $4,047/yr
• Insurance: −$124
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$920
• Vacancy / Maint / Mgmt: −$828
• Net cashflow: $-249

Break-even live

Break-even rent $4,260

Max offer price $252,957

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: $74,250
• Closing costs: $8,910
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $920 · $11,040/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-01
   days on market $297,000 Active 262 DOM
2. 2026-05-31
   days on market $297,000 Active 261 DOM
3. 2026-03-21
   listed $2,650
4. 2026-03-04
   status Active
5. 2026-02-28
   historical
6. 2026-01-22
   price $297,000
7. 2025-09-08
   listed $319,000 Active
8. 2024-05-17
   soldstatus $270,000 Closed 659-char remark

   Show marketing remark (659 chars)

   This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

9. 2024-04-02
   historical Active Under Contract 659-char remark

   Show marketing remark (659 chars)

   This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

10. 2024-01-23
    price $289,000 659-char remark

    Show marketing remark (659 chars)

    This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

11. 2024-01-16
    price $295,000 659-char remark

    Show marketing remark (659 chars)

    This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

12. 2023-12-27
    price $299,999 659-char remark

    Show marketing remark (659 chars)

    This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

13. 2023-11-27
    status Active 659-char remark

    Show marketing remark (659 chars)

    This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

14. 2023-11-15
    listed $315,000 Active 659-char remark

    Show marketing remark (659 chars)

    This very nice corner, first floor condo was completely renovated in 2020. It is a 2 bed/2 bath PLUS den which can be used as office or even a 3rd bedroom. It has an expansive open floor plan and each bedroom has an en-suite full bathroom and walk-in closet. The renovation included plumbing, electrical, central AC, flooring, lighting, cabinetry, Silestone quartz countertops & stainless steel appliances. The Marseille Deco buildings are waterfront and have a swimming pool and BBQ areas. They are located walking distance to the beach, Normandy Square, shops, grocery stores and new restaurants. Great unit for investors! (Agents see Broker remarks)

15. 2020-06-30
    soldstatus $225,000
16. 2020-06-23
    soldstatus $225,000 Closed 816-char remark

    Show marketing remark (816 chars)

    EVERYTHING IS NEW! 2-bed/2-bath PLUS DEN WHICH CAN BE USED AS 3rd BEDROOM, NURSERY or OFFICE-HAS INDEPENDENT ENTRANCE, CLOSET and WINDOW). This is the best deal on Miami Beach today! A total renovation with full/approved permits. Corner-first floor unit. Very large open floor plan with high ceilings. Split bedrooms. Each with their own full bathroom and walk-in closet (#1: bathtub/shower combo. #2: Stand-up shower). All new paint, plumbing, electrical, flooring, lighting, cabinetry, Silestone countertops & stainless steel appliances. Custom 2" wide wood blinds. Building's are located on the water with swimming pool and BBQ areas. Walking distance to the beach, Normandy Square Fountain, shops, grocery and new restaurants. Newer central a/c. Be part of the new "North Beach's expansion. NICE!

17. 2020-06-11
    status Pending 816-char remark

    Show marketing remark (816 chars)

    EVERYTHING IS NEW! 2-bed/2-bath PLUS DEN WHICH CAN BE USED AS 3rd BEDROOM, NURSERY or OFFICE-HAS INDEPENDENT ENTRANCE, CLOSET and WINDOW). This is the best deal on Miami Beach today! A total renovation with full/approved permits. Corner-first floor unit. Very large open floor plan with high ceilings. Split bedrooms. Each with their own full bathroom and walk-in closet (#1: bathtub/shower combo. #2: Stand-up shower). All new paint, plumbing, electrical, flooring, lighting, cabinetry, Silestone countertops & stainless steel appliances. Custom 2" wide wood blinds. Building's are located on the water with swimming pool and BBQ areas. Walking distance to the beach, Normandy Square Fountain, shops, grocery and new restaurants. Newer central a/c. Be part of the new "North Beach's expansion. NICE!

18. 2020-05-27
    historical Active Under Contract 816-char remark

    Show marketing remark (816 chars)

    EVERYTHING IS NEW! 2-bed/2-bath PLUS DEN WHICH CAN BE USED AS 3rd BEDROOM, NURSERY or OFFICE-HAS INDEPENDENT ENTRANCE, CLOSET and WINDOW). This is the best deal on Miami Beach today! A total renovation with full/approved permits. Corner-first floor unit. Very large open floor plan with high ceilings. Split bedrooms. Each with their own full bathroom and walk-in closet (#1: bathtub/shower combo. #2: Stand-up shower). All new paint, plumbing, electrical, flooring, lighting, cabinetry, Silestone countertops & stainless steel appliances. Custom 2" wide wood blinds. Building's are located on the water with swimming pool and BBQ areas. Walking distance to the beach, Normandy Square Fountain, shops, grocery and new restaurants. Newer central a/c. Be part of the new "North Beach's expansion. NICE!

19. 2020-05-15
    listed $239,500 Active 816-char remark

    Show marketing remark (816 chars)

    EVERYTHING IS NEW! 2-bed/2-bath PLUS DEN WHICH CAN BE USED AS 3rd BEDROOM, NURSERY or OFFICE-HAS INDEPENDENT ENTRANCE, CLOSET and WINDOW). This is the best deal on Miami Beach today! A total renovation with full/approved permits. Corner-first floor unit. Very large open floor plan with high ceilings. Split bedrooms. Each with their own full bathroom and walk-in closet (#1: bathtub/shower combo. #2: Stand-up shower). All new paint, plumbing, electrical, flooring, lighting, cabinetry, Silestone countertops & stainless steel appliances. Custom 2" wide wood blinds. Building's are located on the water with swimming pool and BBQ areas. Walking distance to the beach, Normandy Square Fountain, shops, grocery and new restaurants. Newer central a/c. Be part of the new "North Beach's expansion. NICE!

20. 2017-12-28
    historical
21. 2017-11-06
    price $199,225
22. 2017-09-29
    listed $214,500 Active
23. 2004-03-11
    soldstatus $149,000
24. 1995-12-01
    soldstatus $79,900

ⓘ 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: $4,047 · $337/mo
• Projected year-2 tax: $4,047 · $337/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 ≥101°F today · 30 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: $47,327
• − Mortgage interest: −$16,637
• − Property taxes: −$4,047
• − Insurance: −$6,604
• − Repairs & maintenance: −$3,786
• − Management: −$3,786
• − HOA: −$11,040
• − Depreciation: −$8,640
• Taxable loss: −$7,212
• Est. tax savings @ 24.0%: +$1,731
• After-tax cash flow: $-1,261/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): 36,438
• Household income: $68,738
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 3521.0

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: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 36% White 20% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 27% Salvadoran 6%
• Common ancestry: Scotch-Irish 2% Romanian 2% Armenian 1%
• Foreign-born: 62% · Canada, Jamaica, Dominican Republic
• Languages at home: 18% English-only · Spanish 69% Other Indo-European 4% 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: ▼ -472.71%
• Current HPI: 336.7298
• Rent YoY: ▲ 0.44%
• 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

-96.7% since first listed

22 events — show timeline

• 2026-03-21 Listed for Rent $2,650 MARMLS
• 2026-03-04 Relisted — MARMLS
• 2026-02-28 Listing Removed — MARMLS
• 2026-01-22 Price Changed $297,000 MARMLS
• 2025-09-08 Listed $319,000 MARMLS
• 2024-05-17 Sold (MLS) $270,000 MARMLS
• 2024-04-02 Contingent — MARMLS
• 2024-01-23 Price Changed $289,000 MARMLS
• 2024-01-16 Price Changed $295,000 MARMLS
• 2023-12-27 Price Changed $299,999 MARMLS
• 2023-11-27 Relisted — MARMLS
• 2023-11-15 Listed $315,000 MARMLS
• 2020-06-30 Sold (Public Records) $225,000 Public Records
• 2020-06-23 Sold (MLS) $225,000 MARMLS
• 2020-06-11 Pending — MARMLS
• 2020-05-27 Contingent — MARMLS
• 2020-05-15 Listed $239,500 MARMLS
• 2017-12-28 Listing Removed — MARMLS
• 2017-11-06 Price Changed $199,225 MARMLS
• 2017-09-29 Listed $214,500 MARMLS
• 2004-03-11 Sold (Public Records) $149,000 Public Records
• 1995-12-01 Sold (Public Records) $79,900 Public Records

Property tax history

+7.5%/yr

Latest (2025): $4,047 · +2.2% YoY. Source: county tax records.