5701 Biscayne Blvd #701 · Miami, FL 33137

$445,000

1 bd · 1.0 ba · 915 sqft · Condo public records · 376 Days on market

Built 1973 $985/mo HOA · 23% 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 +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• 1% rule +4.7/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks

AMAZING VIEWS, exclusive corner unit with no neighbors and semi-private elevator with designer floors and finishes. First time on the market in this exclusive only 37 unit building Flats at Morningside. Floor to ceiling windows and doors show Ocean east views, City south/north views and garden views with spectacular open floor plan. Oversized balcony gives more than 1125 Total SF. Brand new Kitchen, new AC, new bath. Washer/Dryer inside unit. CURRENTLY used as a LARGE 1 bedroom plus 1 1/2 baths. Easily convert to 2/2. Private gated entrance and Amazing location. Just minutes to the beaches, airport, downtown, design district, theater, plus more including top restaurants and highest end shop

Key facts

• City north views
• City south views
• Ocean east views

Tags

• EXCLUSIVE CORNER UNIT
• SEMI-PRIVATE ELEVATOR
• OCEAN EAST VIEWS
• CITY SOUTH VIEWS
• CITY NORTH VIEWS
• GARDEN VIEWS

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions
• HOA & community: Monthly association fee; Association covers amenities; Building amenities include elevators, barbecue and picnic area

Exterior

• Parking: One covered garage space; Garage door opener
• Security: Elevator secured; Key card entry
• Utilities: Water, sewer and power services (standard); Central heating and cooling
• Home design: Condominium in a 9-story building; Unit entry at level 7; East-facing with a view
• Construction: Resale property
• Exterior features: Balcony (open); Bayfront and oceanfront with ocean access; Complex is fenced

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Concrete
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Partially furnished; Elevator access; Smoke detectors
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $445k.

Deal economics

• At list price, monthly cash flow is $-507 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $355k (20.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $432k (3.0% below list).
• Recommended offer: $355k (20.1% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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 (+2.7%/yr); 757 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,315/mo this rent would consume 55% of the median local household income ($94k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($3k loan paydown + $1k appreciation (0.3% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 376 days — a 12% lower offer ($392k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 7y ago 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 $55k; list at $445k implies a 709% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $355,439 (20.1% 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 376 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.97% ✗
• Cap rate: 4.93%
• Cash-on-cash: -4.88%
• DSCR: 0.78
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.27% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.68×
• Total profit: $-40,177
• Equity at exit: $135,297

10-year hold

• IRR: -1.0%
• Equity multiple: 0.89×
• Total profit: $-14,058
• Equity at exit: $167,570

Cash invested: $124,600 (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 33137

• Home prices YoY: 0.1%
• Rents YoY: 2.7%
• Active inventory: 757
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,315 medium
• Mortgage (P&I): −$2,334
• Tax from tax record: −$412 /mo · $4,945/yr
• Insurance: −$185
• HOA: −$985
• Vacancy / Maint / Mgmt: −$906
• Net cashflow: $-507

Break-even live

Break-even rent $4,957

Max offer price $355,439

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 NE 34th St Miami, FL	1.0–4.0	1.5–4.0	2653	$3,506	$1.32	2d	19	1.36mi

HOA detail condo

• Monthly dues: $985 · $11,820/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $445,000 Active 376 DOM
2. 2026-06-17
   pricedays on market $445,000 Active 375 DOM
3. 2026-06-16
   days on market $450,000 Active 374 DOM
4. 2026-06-15
   days on market $450,000 Active 373 DOM
5. 2026-06-13
   days on market $450,000 Active 371 DOM
6. 2026-06-09
   days on market $450,000 Active 367 DOM
7. 2026-06-08
   days on market $450,000 Active 366 DOM
8. 2026-06-08
   days on market $450,000 Active 365 DOM
9. 2026-06-04
   days on market $450,000 Active 362 DOM
10. 2026-06-03
    days on market $450,000 Active 361 DOM
11. 2026-06-02
    days on market $450,000 Active 360 DOM
12. 2026-06-01
    days on market $450,000 Active 359 DOM
13. 2026-05-31
    days on market $450,000 Active 358 DOM
14. 2026-03-21
    price $450,000
15. 2026-03-07
    price $455,000
16. 2025-10-15
    price $439,000
17. 2025-08-07
    price $450,000
18. 2025-08-07
    price $425,000
19. 2025-08-07
    price $425,500
20. 2025-07-29
    price $400,000
21. 2025-07-29
    status Active
22. 2025-07-15
    price $425,000
23. 2025-07-08
    price $439,000
24. 2025-07-01
    price $440,000
25. 2025-06-12
    status Active
26. 2025-06-03
    listed $445,000 Active
27. 2025-05-28
    historical
28. 2025-05-07
    price $440,000
29. 2025-04-21
    price $445,000
30. 2025-03-10
    price $450,000
31. 2025-02-21
    price $459,000
32. 2025-02-17
    status Active
33. 2025-02-17
    price $475,000
34. 2025-02-14
    status Pending
35. 2025-02-14
    price $475,500
36. 2025-01-17
    price $449,500
37. 2024-12-18
    price $450,000
38. 2024-12-05
    price $469,000
39. 2024-12-05
    price $475,000
40. 2024-11-22
    listed $485,000 Active
41. 2024-11-06
    historical
42. 2024-09-27
    price $445,000
43. 2024-08-15
    price $450,000
44. 2024-08-10
    price $489,000
45. 2024-06-25
    price $495,000
46. 2024-06-14
    price $525,000
47. 2024-06-03
    listed $625,000 Active
48. 2023-05-05
    price $495,000
49. 2022-11-19
    listed $415,000 Active
50. 2021-05-25
    historical

ⓘ 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: $4,945 · $412/mo
• Projected year-2 tax: $4,945 · $412/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 24 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: $51,784
• − Mortgage interest: −$24,927
• − Property taxes: −$4,945
• − Insurance: −$2,225
• − Repairs & maintenance: −$4,143
• − Management: −$4,143
• − HOA: −$11,820
• − Depreciation: −$12,945
• Taxable loss: −$13,363
• Est. tax savings @ 24.0%: +$3,207
• After-tax cash flow: $-2,877/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): 29,414
• Household income: $94,036
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 3106.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 54% Two or more races 25% White 24% Black 16% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 10% Dominican 3% Salvadoran 3%
• Common ancestry: Hispanic 8% Estonian 2% Lithuanian 2%
• Foreign-born: 47% · Canada, Jamaica, Dominican Republic
• Languages at home: 34% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 5%

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: ▲ 0.27%
• Current HPI: 385.1514
• Rent YoY: ▲ 2.73%
• 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

+192.6% since first listed

51 events — show timeline

• 2026-03-21 Price Changed $450,000 MARMLS
• 2026-03-07 Price Changed $455,000 MARMLS
• 2025-10-15 Price Changed $439,000 MARMLS
• 2025-08-07 Price Changed $450,000 MARMLS
• 2025-08-07 Price Changed $425,000 MARMLS
• 2025-08-07 Price Changed $425,500 MARMLS
• 2025-07-29 Price Changed $400,000 MARMLS
• 2025-07-29 Relisted — MARMLS
• 2025-07-15 Price Changed $425,000 MARMLS
• 2025-07-08 Price Changed $439,000 MARMLS
• 2025-07-01 Price Changed $440,000 MARMLS
• 2025-06-12 Relisted — MARMLS
• 2025-06-03 Listed $445,000 MARMLS
• 2025-05-28 Listing Removed — MARMLS
• 2025-05-07 Price Changed $440,000 MARMLS
• 2025-04-21 Price Changed $445,000 MARMLS
• 2025-03-10 Price Changed $450,000 MARMLS
• 2025-02-21 Price Changed $459,000 MARMLS
• 2025-02-17 Relisted — MARMLS
• 2025-02-17 Price Changed $475,000 MARMLS
• 2025-02-14 Pending — MARMLS
• 2025-02-14 Price Changed $475,500 MARMLS
• 2025-01-17 Price Changed $449,500 MARMLS
• 2024-12-18 Price Changed $450,000 MARMLS
• 2024-12-05 Price Changed $469,000 MARMLS
• 2024-12-05 Price Changed $475,000 MARMLS
• 2024-11-22 Listed $485,000 MARMLS
• 2024-11-06 Listing Removed — MARMLS
• 2024-09-27 Price Changed $445,000 MARMLS
• 2024-08-15 Price Changed $450,000 MARMLS
• 2024-08-10 Price Changed $489,000 MARMLS
• 2024-06-25 Price Changed $495,000 MARMLS
• 2024-06-14 Price Changed $525,000 MARMLS
• 2024-06-03 Listed $625,000 MARMLS
• 2023-05-05 Price Changed $495,000 MARMLS
• 2022-11-19 Listed $415,000 MARMLS
• 2021-05-25 Listing Removed — MARMLS
• 2021-03-11 Price Changed $295,000 MARMLS
• 2021-01-19 Price Changed $300,000 MARMLS
• 2021-01-11 Listed $310,000 MARMLS
• 2020-12-31 Listing Removed — MARMLS
• 2020-12-31 Price Changed $298,500 MARMLS
• 2020-09-02 Price Changed $299,500 MARMLS
• 2020-08-10 Relisted — MARMLS
• 2020-07-27 Listed $300,000 MARMLS
• 2019-10-19 Listing Removed — MARMLS
• 2019-08-31 Price Changed $300,000 MARMLS
• 2019-07-16 Price Changed $325,000 MARMLS
• 2019-06-21 Listed $345,000 MARMLS
• 2010-08-24 Sold (MLS) $55,000 MARMLS
• 2004-03-24 Sold (Public Records) $153,800 Public Records

Property tax history

+10.2%/yr

Latest (2025): $4,945 · +4.4% YoY. Source: county tax records.