6900 Bay Dr Unit 11i · Miami Beach, FL 33141

$288,900

1 bd · 1.0 ba · 970 sqft · Condo public records · 293 Days on market

Built 1973 $910/mo HOA · 20% of rent

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Why this score? — see what drove the B- 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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Enjoy Miami Beach Living with Breathtaking Views. This 970 sq ft, 1BR, 1.5 Baths Penthouse-level condo on 11th floor offers sweeping views of the Ocean, the Bay, La Gorce Island, and the city skyline. Fully funded reserves and a recently completed 50-year recertification make this a smart choice for first-time buyers, with low down payment financing options available. This spacious, west-facing residence features a newly renovated kitchen with quartz countertops, tile floors, and updated bathrooms. Stunning ocean and city views on 2 sides, soundproof windows, and electric shutters, provide comfort and peace of mind. Additional upgrades include new appliances, A/C, and water heater. Located

Key facts

• Breathtaking views
• Updated bathrooms
• Soundproof windows

Tags

• BREATHTAKING VIEWS
• NEWLY RENOVATED KITCHEN
• UPDATED BATHROOMS
• SOUNDPROOF WINDOWS
• ELECTRIC SHUTTERS
• NEW APPLIANCES

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association with elevator(s), fitness center, pool, and trash chute; Monthly HOA fee

Exterior

• Parking: Garage (1 covered space, 1 garage space)
• Utilities: No utilities listed
• Home design: Condominium; Resale condition; Faces east; 11-story building
• Construction: Concrete construction
• Exterior features: Intracoastal waterfront views

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Custom mirrors

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $289k).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: Treasure Island Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 399 students, 59% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• 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 $4,631/mo this rent would consume 81% 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 293 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; 38% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 293 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 1973 — 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. 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 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?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.47%
• DSCR: 1.60
• GRM: 5.2

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: -9.5%
• Equity multiple: 0.67×
• Total profit: $-26,972
• Equity at exit: $43,076

10-year hold

• IRR: -6.0%
• Equity multiple: 0.68×
• Total profit: $-26,098
• Equity at exit: $24,979

Cash invested: $80,892 (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: 5.2×

Monthly cashflow live

• Estimated rent: $4,631 medium
• Mortgage (P&I): −$1,515
• Tax from tax record: −$205 /mo · $2,460/yr
• Insurance: −$120
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$910
• Vacancy / Maint / Mgmt: −$973
• Net cashflow: $482

Break-even live

Break-even rent $4,021

Max offer price $288,900

Occupancy floor 85%

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: $72,225
• Closing costs: $8,667
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $910 · $10,920/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-06-18
   days on market $288,900 Active 293 DOM
2. 2026-06-17
   days on market $288,900 Active 292 DOM
3. 2026-06-16
   days on market $288,900 Active 291 DOM
4. 2026-06-15
   days on market $288,900 Active 290 DOM
5. 2026-06-13
   days on market $288,900 Active 288 DOM
6. 2026-06-09
   days on market $288,900 Active 284 DOM
7. 2026-06-08
   days on market $288,900 Active 283 DOM
8. 2026-06-08
   days on market $288,900 Active 282 DOM
9. 2026-06-04
   days on market $288,900 Active 279 DOM
10. 2026-06-03
    days on market $288,900 Active 278 DOM
11. 2026-06-02
    days on market $288,900 Active 277 DOM
12. 2026-06-01
    days on market $288,900 Active 276 DOM
13. 2026-05-31
    days on market $288,900 Active 275 DOM
14. 2026-04-18
    price $288,900
15. 2026-03-01
    price $289,000
16. 2026-02-15
    price $294,000
17. 2026-01-04
    price $299,000
18. 2025-12-15
    price $305,000
19. 2025-12-07
    price $310,000
20. 2025-12-05
    price $315,000
21. 2025-11-28
    price $316,000
22. 2025-11-21
    price $317,000
23. 2025-11-14
    price $318,000
24. 2025-11-07
    price $319,000
25. 2025-10-31
    price $320,000
26. 2025-10-24
    price $321,000
27. 2025-10-18
    price $322,000
28. 2025-10-10
    price $323,000
29. 2025-10-03
    price $324,000
30. 2025-09-26
    price $325,000
31. 2025-09-19
    price $326,000
32. 2025-09-12
    price $327,000
33. 2025-09-07
    price $328,000
34. 2025-08-29
    listed $329,000 Active
35. 2025-07-31
    historical
36. 2025-04-09
    price $360,000
37. 2025-03-06
    price $380,000
38. 2024-12-18
    listed $400,000 Active
39. 2024-11-01
    historical
40. 2024-07-18
    listed $450,000 Active
41. 2018-09-05
    soldstatus $210,000
42. 2018-08-30
    soldstatus $210,000 Sold
43. 2018-08-16
    status Pending
44. 2018-05-25
    listed $240,000 Active
45. 2011-02-08
    soldstatus $83,000
46. 2011-02-08
    soldstatus $83,000
47. 1988-06-01
    soldstatus $40,000
48. 1976-03-01
    soldstatus $36,000

ⓘ 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: $2,460 · $205/mo
• Projected year-2 tax: $2,460 · $205/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 · 28 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: $55,573
• − Mortgage interest: −$16,183
• − Property taxes: −$2,460
• − Insurance: −$6,563
• − Repairs & maintenance: −$4,446
• − Management: −$4,446
• − HOA: −$10,920
• − Depreciation: −$8,404
• Taxable income: $2,152
• Est. tax owed @ 24.0%: −$516
• After-tax cash flow: $5,264/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

+702.5% since first listed

35 events — show timeline

• 2026-04-18 Price Changed $288,900 Beaches MLS
• 2026-03-01 Price Changed $289,000 Beaches MLS
• 2026-02-15 Price Changed $294,000 Beaches MLS
• 2026-01-04 Price Changed $299,000 Beaches MLS
• 2025-12-15 Price Changed $305,000 Beaches MLS
• 2025-12-07 Price Changed $310,000 Beaches MLS
• 2025-12-05 Price Changed $315,000 Beaches MLS
• 2025-11-28 Price Changed $316,000 Beaches MLS
• 2025-11-21 Price Changed $317,000 Beaches MLS
• 2025-11-14 Price Changed $318,000 Beaches MLS
• 2025-11-07 Price Changed $319,000 Beaches MLS
• 2025-10-31 Price Changed $320,000 Beaches MLS
• 2025-10-24 Price Changed $321,000 Beaches MLS
• 2025-10-18 Price Changed $322,000 Beaches MLS
• 2025-10-10 Price Changed $323,000 Beaches MLS
• 2025-10-03 Price Changed $324,000 Beaches MLS
• 2025-09-26 Price Changed $325,000 Beaches MLS
• 2025-09-19 Price Changed $326,000 Beaches MLS
• 2025-09-12 Price Changed $327,000 Beaches MLS
• 2025-09-07 Price Changed $328,000 Beaches MLS
• 2025-08-29 Listed $329,000 Beaches MLS
• 2025-07-31 Listing Removed — MARMLS
• 2025-04-09 Price Changed $360,000 MARMLS
• 2025-03-06 Price Changed $380,000 MARMLS
• 2024-12-18 Listed $400,000 MARMLS
• 2024-11-01 Listing Removed — MARMLS
• 2024-07-18 Listed $450,000 MARMLS
• 2018-09-05 Sold (Public Records) $210,000 Public Records
• 2018-08-30 Sold (MLS) $210,000 MARMLS
• 2018-08-16 Pending — MARMLS
• 2018-05-25 Listed $240,000 MARMLS
• 2011-02-08 Sold (MLS) $83,000 MARMLS
• 2011-02-08 Sold (Public Records) $83,000 Public Records
• 1988-06-01 Sold (Public Records) $40,000 Public Records
• 1976-03-01 Sold (Public Records) $36,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,460 · +3.3% YoY. Source: county tax records.