770 83rd St · Miami Beach, FL 33141

$1,287,500

6 bd · 6.0 ba · 3,423 sqft · MultiFamily public records · 138 Days on market

Built 1953

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

770 83rd Street presents a well-located four-unit multifamily property in the heart of Miami Beach’s highly desirable North Beach neighborhood. The property consists of four spacious units, each configured as 2-bedroom, 1-bathroom apartments, offering strong rental demand and consistent tenant appeal. Market proforma rents are projected at $2,200 per unit, providing investors with a compelling opportunity for income growth and long-term appreciation. Situated just steps from the Atlantic Ocean, the property offers residents convenient access to Miami Beach’s renowned sandy shoreline and scenic beachwalks. The location is within close proximity to North Beach Oceanside Park, a po

Key facts

• Strong rental demand
• Multifamily property
• Convenient access

Tags

• MULTIFAMILY PROPERTY
• NORTH BEACH NEIGHBORHOOD
• STRONG RENTAL DEMAND
• TENANT APPEAL
• CONVENIENT ACCESS
• SANDY SHORELINE

Property features AI

Finance

• Other: Annual tax noted (details omitted per instructions)
• Financial info: Rent includes electricity, gas, gardener, hot water, pest control, and cable TV

Exterior

• Utilities: Cable available; Public sewer
• Home design: Single-story; Flat and tile roof; Block construction; Effective year built listed
• Construction: Block construction; Flat roof; Tile roof
• Exterior features: Lot smaller than a quarter acre

Interior

• Flooring: Terrazzo; Tile
• Heating & cooling: Gas heating; Electric cooling; Wall/Window air conditioning units
• Interior features: Terrazzo and tile flooring

What this means for you Summary

Snapshot

• This is a 6-bed/6.0-bath multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.29M).
• Recommended offer: $1.13M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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.
• Zoned schools: Biscayne Beach Elementary School (math 42% / reading 49%, grade D-, #1,247 of 2,144 statewide, top 59%, 578 students, 63% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 49% FRL vs 64% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 648 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 $15,095/mo this rent would consume 264% 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 $9k of loan paydown is wiped out by about $39k 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 138 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $550k; list at $1.29M implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1953 — 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 $1,133,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.17% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 7.1

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: -5.0%
• Equity multiple: 0.82×
• Total profit: $-65,628
• Equity at exit: $191,970

10-year hold

• IRR: 1.3%
• Equity multiple: 1.08×
• Total profit: $28,971
• Equity at exit: $111,319

Cash invested: $360,500 (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: 648
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $15,095 medium
• Mortgage (P&I): −$6,752
• Tax from tax record: −$1,375 /mo · $16,502/yr
• Insurance: −$536
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,170
• Net cashflow: $2,835

Break-even live

Break-even rent $11,506

Max offer price $1,287,500

Occupancy floor 76%

Sensitivity live

Price	-10% $3,564	-5% $3,200	+0% $2,835	+5% $2,471	+10% $2,106
Rent	-10% $1,643	-5% $2,239	+0% $2,835	+5% $3,431	+10% $4,028
Rate	-1.0pp $3,483	-0.5pp $3,163	base $2,835	+0.5pp $2,501	+1.0pp $2,162

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$15,096
Total (4 units)			$15,095

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: $321,875
• Closing costs: $38,625
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1055 Stillwater Dr Miami Beach, FL	6.0	5.5	4787	$29,000	$6.06	22d	1	0.21mi
1131 Stillwater Dr Unit SFH Miami Beach, FL	5.0	3.5	3980	$19,000	$4.77	26d	1	0.26mi
1151 Stillwater Dr Miami Beach, FL	5.0	3.0	3237	$18,000	$5.56	19d	1	0.27mi
1249 Biscaya Dr Surfside, FL	5.0	4.5	4486	$26,900	$6.00	26d	1	0.38mi
7811 Carlyle Ave Miami Beach, FL	6.0	5.5	3405	$50,000	$14.68	26d	1	0.39mi
1625 Daytonia Rd Miami Beach, FL	5.0	3.0	2690	$18,000	$6.69	26d	1	0.62mi
7972 Biscayne Point Cir Miami Beach, FL	5.0	5.0	3989	$60,000	$15.04	26d	1	0.94mi
9221 E Bay Harbor Dr Unit 511/512 Bay Harbor Islands, FL	7.0	7.5	4565	$27,500	$6.02	1d	1	1.03mi
9380 Bay Dr Surfside, FL	5.0	5.0	4737	$35,000	$7.39	26d	1	1.03mi

Listing history 23 events

1. 2026-06-21
   days on market $1,287,500 Active 138 DOM
2. 2026-06-18
   days on market $1,287,500 Active 135 DOM
3. 2026-06-17
   days on market $1,287,500 Active 134 DOM
4. 2026-06-16
   days on market $1,287,500 Active 133 DOM
5. 2026-06-15
   days on market $1,287,500 Active 132 DOM
6. 2026-06-13
   days on market $1,287,500 Active 130 DOM
7. 2026-06-09
   days on market $1,287,500 Active 126 DOM
8. 2026-06-08
   days on market $1,287,500 Active 125 DOM
9. 2026-06-07
   days on market $1,287,500 Active 124 DOM
10. 2026-06-04
    days on market $1,287,500 Active 121 DOM
11. 2026-06-03
    days on market $1,287,500 Active 120 DOM
12. 2026-06-02
    days on market $1,287,500 Active 119 DOM
13. 2026-06-01
    days on market $1,287,500 Active 118 DOM
14. 2026-05-31
    days on market $1,287,500 Active 117 DOM
15. 2026-03-26
    price $1,287,500
16. 2026-02-03
    listed $1,295,000 Active
17. 2025-08-07
    historical $1,800
18. 2025-07-17
    listed $1,800
19. 2021-04-21
    soldstatus $550,000
20. 2017-02-28
    soldstatus $330,000
21. 1990-08-21
    soldstatus $121,500
22. 1986-12-01
    soldstatus $115,000
23. 1984-01-01
    soldstatus $100,000

ⓘ 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: $16,502 · $1,375/mo
• Projected year-2 tax: $16,502 · $1,375/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 · 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: $181,140
• − Mortgage interest: −$72,120
• − Property taxes: −$16,502
• − Insurance: −$11,556
• − Repairs & maintenance: −$14,491
• − Management: −$14,491
• − Depreciation: −$37,455
• Taxable income: $14,525
• Est. tax owed @ 24.0%: −$3,486
• After-tax cash flow: $30,535/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

+1187.5% since first listed

9 events — show timeline

• 2026-03-26 Price Changed $1,287,500 MARMLS
• 2026-02-03 Listed $1,295,000 MARMLS
• 2025-08-07 Rental Removed $1,800 SHOWMOJO
• 2025-07-17 Listed for Rent $1,800 SHOWMOJO
• 2021-04-21 Sold (Public Records) $550,000 Public Records
• 2017-02-28 Sold (Public Records) $330,000 Public Records
• 1990-08-21 Sold (Public Records) $121,500 Public Records
• 1986-12-01 Sold (Public Records) $115,000 Public Records
• 1984-01-01 Sold (Public Records) $100,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $16,502 · +6.0% YoY. Source: county tax records.