1450 Meridian Ave #104 · Miami Beach, FL 33139

$245,000

1 bd · 1.0 ba · 467 sqft · Condo public records · 10 Days on market

Built 2015 $600/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 +21.9/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 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 MLS

Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

Key facts

• Central ac
• $600 HOA
• Built 2015

Tags

• STAINLESS STEEL APPLIANCES
• CENTRAL AC

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $600; HOA covers common areas, legal/accounting, and water

Exterior

• Parking: On-street parking
• Utilities: Electric service; Public water (HOA fee includes water); Public sewer
• Home design: 2-story property; Entry level: 1; Attached property
• Construction: Block construction; Resale property
• Exterior features: Courtyard

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First-floor entry; Bedroom on main level; Tile flooring; Updated/remodeled condition
• Laundry & utility: Washer; Dryer; Laundry tub; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-40 ($-475/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (2.9% below list).
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $238k (2.9% below list) — sets the bar for cash-flow.
• Cap rate 8.2% 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; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,371/mo this rent would consume 58% 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 $5k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 36% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,004 (2.9% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 6.1

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: -17.0%
• Equity multiple: 0.37×
• Total profit: $-43,005
• Equity at exit: $45,493

10-year hold

• IRR: -17.9%
• Equity multiple: -0.00×
• Total profit: $-68,702
• Equity at exit: $36,904

Cash invested: $68,600 (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: 6.1×

Monthly cashflow live

• Estimated rent: $3,371 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$289 /mo · $3,467/yr
• Insurance: −$102
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$600
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $-40

Break-even live

Break-even rent $3,421

Max offer price $238,004

Occupancy floor 96%

Sensitivity live

Price	-10% $99	-5% $30	+0% $-40	+5% $-109	+10% $-178
Rent	-10% $-306	-5% $-173	+0% $-40	+5% $94	+10% $227
Rate	-1.0pp $84	-0.5pp $23	base $-40	+0.5pp $-103	+1.0pp $-168

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: internetcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $245,000 Active 10 DOM
2. 2026-06-17
   days on market $245,000 Active 9 DOM
3. 2026-06-16
   days on market $245,000 Active 8 DOM
4. 2026-06-15
   days on market $245,000 Active 7 DOM
5. 2026-06-13
   days on market $245,000 Active 5 DOM
6. 2026-06-08
   remarks 138-char remark
7. 2026-06-08
   days on marketlisting id $245,000 Active 1 DOM
8. 2026-05-31
   days on market $245,000 Active 278 DOM
9. 2026-04-20
   price $245,000
10. 2026-03-02
    price $225,000
11. 2026-02-18
    price $228,000
12. 2026-01-27
    price $230,000
13. 2025-12-24
    price $240,000
14. 2025-12-18
    price $245,000
15. 2025-09-08
    price $250,000
16. 2025-08-28
    price $255,000
17. 2025-08-26
    listed $280,000 Active
18. 2024-11-11
    historical $1,950
19. 2024-10-29
    price $1,950
20. 2024-10-18
    listed $2,000
21. 2024-10-01
    historical $2,000
22. 2024-07-23
    price $2,000
23. 2024-07-05
    listed $2,100
24. 2023-07-15
    historical
25. 2022-02-04
    soldstatus $180,000
26. 2022-01-31
    soldstatus $180,000 Closed 644-char remark

    Show marketing remark (644 chars)

    Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

27. 2022-01-10
    status Pending 644-char remark

    Show marketing remark (644 chars)

    Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

28. 2021-10-13
    price $189,000 644-char remark

    Show marketing remark (644 chars)

    Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

29. 2021-03-01
    price $199,000 644-char remark

    Show marketing remark (644 chars)

    Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

30. 2021-02-12
    listed $201,000 Active 644-char remark

    Show marketing remark (644 chars)

    Wonderful 1 bedroom apartment in a nice condo conversion from 2015, EVA condo is a building located in one of the most typical and convenient locations in the heart of South Beach, just two blocks away from well-known Lincoln Road Mall. The building and the units inside have been completely refurbished. The apartment is well divided and features wood ceramic floor all over, washer/dryer, full kitchen with stainless steel appliances, glass shower, central AC. Basic cable and Wifi are included in the HOA. Perfect location close to everything just walking distance. Great price to sell and not further negotiable, don't miss the opportunity.

31. 2016-08-18
    historical
32. 2016-06-24
    price $299,000
33. 2016-05-27
    listed $313,000 Active
34. 2015-12-18
    soldstatus $230,000

ⓘ 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: $3,467 · $289/mo
• Projected year-2 tax: $3,467 · $289/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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,447
• − Mortgage interest: −$13,724
• − Property taxes: −$3,467
• − Insurance: −$6,344
• − Repairs & maintenance: −$3,236
• − Management: −$3,236
• − HOA: −$7,200
• − Depreciation: −$7,127
• Taxable loss: −$3,886
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $457/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

+6.5% since first listed

26 events — show timeline

• 2026-04-20 Price Changed $245,000 MARMLS
• 2026-03-02 Price Changed $225,000 MARMLS
• 2026-02-18 Price Changed $228,000 MARMLS
• 2026-01-27 Price Changed $230,000 MARMLS
• 2025-12-24 Price Changed $240,000 MARMLS
• 2025-12-18 Price Changed $245,000 MARMLS
• 2025-09-08 Price Changed $250,000 MARMLS
• 2025-08-28 Price Changed $255,000 MARMLS
• 2025-08-26 Listed $280,000 MARMLS
• 2024-11-11 Rental Removed $1,950 MARMLS
• 2024-10-29 Price Changed $1,950 MARMLS
• 2024-10-18 Listed for Rent $2,000 MARMLS
• 2024-10-01 Rental Removed $2,000 MARMLS
• 2024-07-23 Price Changed $2,000 MARMLS
• 2024-07-05 Listed for Rent $2,100 MARMLS
• 2023-07-15 Rental Removed — MARMLS
• 2022-02-04 Sold (Public Records) $180,000 Public Records
• 2022-01-31 Sold (MLS) $180,000 MARMLS
• 2022-01-10 Pending — MARMLS
• 2021-10-13 Price Changed $189,000 MARMLS
• 2021-03-01 Price Changed $199,000 MARMLS
• 2021-02-12 Listed $201,000 MARMLS
• 2016-08-18 Listing Removed — MARMLS
• 2016-06-24 Price Changed $299,000 MARMLS
• 2016-05-27 Listed $313,000 MARMLS
• 2015-12-18 Sold (Public Records) $230,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,467 · -0.2% YoY. Source: county tax records.