41 SE 5th St #1315 · Miami, FL 33131

$419,000

1 bd · 1.0 ba · 952 sqft · Condo public records · 99 Days on market

Built 2006 $800/mo HOA · 17% of rent

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Why this score? — see what drove the D 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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

* * * S H O R T S A L E * * * IN THE HEART OF BRICKELL STATE -OF-THE-ART BUILDING !!!! BRAND NEW LOFT 1 BED - 1.5 BATHS - LAMINATED WOOD FLOOR THROUGHOUT THE ENTIRE PROPERTY - MARBLE FLOORS IN BATHROOMS - GRANITE COUNTER TOPS IN KITCHEN - STAINLESS STEEL APPLIANCES - CONCIERGE - VALET - LOT OF AMENITIES IN THE AREA !!!! APPROVED FAST CLOSING * COMMS. TO BE APPROVE BY BANK & SPLIT BETWEEN BROKERS

Key facts

• Marble floors
• Spa
• 24/7 fitness center

Tags

• BI-LEVEL LOFT
• MODERN EUROPEAN KITCHEN
• MARBLE FLOORS
• 2 POOLS
• 24/7 FITNESS CENTER
• SPA

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions
• HOA & community: Monthly HOA with amenities; Building amenities include fitness center, pool, sauna, spa/hot tub, trash chute, business center, and maintenance; HOA fee collected monthly; HOA fee covers insurance, structure maintenance, sewer, trash, water, and reserve funds

Exterior

• Parking: Has garage; 1 garage space; 1 covered space; Assigned parking; Valet service
• Security: Fire alarm; Fire sprinkler system; Security guard; Security system; Smoke detector(s); Attended lobby
• Utilities: Cable available
• Home design: Condominium; Resale unit; Faces southeast; 46-story building
• Construction: Block construction
• Exterior features: Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Laminate; Marble
• Bathrooms: 1 full bathroom; 1 half bathroom (total 2 bathrooms)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Has heating and cooling
• Interior features: High ceilings; Walk-in closet(s); Blinds on windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $-628 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (26.5% below list).
• Meets the 1% rule at list price ($5k rent vs $419k).
• Recommended offer: $308k (26.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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 (+2.0%/yr); 1007 active listings in the ZIP; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 38% of the median local income ($144k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $3k 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 99 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 14864% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $200k; list at $419k implies a 110% gain — meaningful room to come down on a strong offer.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $308,049 (26.5% 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 99 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.09% ✓
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.19×
• Total profit: $-95,299
• Equity at exit: $79,583

10-year hold

• IRR: -17.4%
• Equity multiple: -0.14×
• Total profit: $-134,207
• Equity at exit: $66,310

Cash invested: $117,320 (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 33131

• Home prices YoY: -0.7%
• Rents YoY: 2.0%
• Active inventory: 1007
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,581 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$648 /mo · $7,781/yr
• Insurance: −$175
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$800
• Vacancy / Maint / Mgmt: −$962
• Net cashflow: $-628

Break-even live

Break-even rent $5,376

Max offer price $308,049

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $419,000 Active 99 DOM
2. 2026-06-17
   days on market $419,000 Active 98 DOM
3. 2026-06-16
   days on market $419,000 Active 97 DOM
4. 2026-06-15
   days on market $419,000 Active 96 DOM
5. 2026-06-13
   days on market $419,000 Active 94 DOM
6. 2026-06-09
   days on market $419,000 Active 90 DOM
7. 2026-06-08
   days on market $419,000 Active 89 DOM
8. 2026-06-07
   days on market $419,000 Active 88 DOM
9. 2026-06-04
   days on market $419,000 Active 85 DOM
10. 2026-06-03
    days on market $419,000 Active 84 DOM
11. 2026-06-02
    days on market $419,000 Active 83 DOM
12. 2026-06-01
    days on market $419,000 Active 82 DOM
13. 2026-05-31
    days on market $419,000 Active 81 DOM
14. 2026-04-29
    historical $2,650
15. 2026-04-24
    price $2,650
16. 2026-04-23
    price $419,000
17. 2026-04-15
    price $2,750
18. 2026-03-26
    listed $2,800
19. 2026-03-26
    historical $2,900
20. 2026-03-08
    price $2,900
21. 2026-02-13
    listed $3,000
22. 2026-01-27
    listed $425,000 Active
23. 2011-06-09
    soldstatus $200,000 473-char remark

    Show marketing remark (473 chars)

    * * * S H O R T S A L E * * * IN THE HEART OF BRICKELL STATE -OF-THE-ART BUILDING !!!! BRAND NEW LOFT 1 BED - 1.5 BATHS - LAMINATED WOOD FLOOR THROUGHOUT THE ENTIRE PROPERTY - MARBLE FLOORS IN BATHROOMS - GRANITE COUNTER TOPS IN KITCHEN - STAINLESS STEEL APPLIANCES - CONCIERGE - VALET - LOT OF AMENITIES IN THE AREA !!!! APPROVED FAST CLOSING * COMMS. TO BE APPROVE BY BANK & SPLIT BETWEEN BROKERS

24. 2011-05-03
    soldstatus $200,000

ⓘ 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: $7,781 · $648/mo
• Projected year-2 tax: $7,781 · $648/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 26 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: $54,969
• − Mortgage interest: −$23,471
• − Property taxes: −$7,781
• − Insurance: −$7,214
• − Repairs & maintenance: −$4,398
• − Management: −$4,398
• − HOA: −$9,600
• − Depreciation: −$12,189
• Taxable loss: −$14,081
• Est. tax savings @ 24.0%: +$3,379
• After-tax cash flow: $-4,157/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): 23,095
• Household income: $144,138
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 1866.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 35% White 33% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1% Salvadoran 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Estonian 2%
• Foreign-born: 54% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 53% Other Indo-European 6% French/Haitian/Cajun 4%

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: ▼ -2.09%
• Current HPI: 281.1156
• Rent YoY: ▲ 2.04%
• 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

-98.7% since first listed

11 events — show timeline

• 2026-04-29 Rental Removed $2,650 RMLSFL
• 2026-04-24 Price Changed $2,650 RMLSFL
• 2026-04-23 Price Changed $419,000 Beaches MLS
• 2026-04-15 Price Changed $2,750 RMLSFL
• 2026-03-26 Listed for Rent $2,800 RMLSFL
• 2026-03-26 Rental Removed $2,900 GFLMLS
• 2026-03-08 Price Changed $2,900 GFLMLS
• 2026-02-13 Listed for Rent $3,000 GFLMLS
• 2026-01-27 Listed $425,000 Beaches MLS
• 2011-06-09 Sold (MLS) $200,000 MARMLS
• 2011-05-03 Sold (Public Records) $200,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $7,781 · -4.4% YoY. Source: county tax records.