1020 Meridian Ave #816 · Miami Beach, FL 33139

$349,000

1 bd · 1.0 ba · 785 sqft · Condo public records · 83 Days on market

Built 1969 $798/mo HOA · 20% 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 +13.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +4.2/10.0
• 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

FHA Approved through 05/25/26, can be financed with 3.5% down. Financially solid building. Enjoy gorgeous sunsets and beautiful City view from your balcony facing West. Beautiful oversized 1BD/1.5BA is filled with natural light, very bright and sunny. New impact windows. Tons of closet space and storage cage available. This secure boutique building offers recently renovated common areas, new controlled intercom system, art deco lobby, and pool, bike storage and laundry facility on each floor. Clean and quiet building with on site manager. Enjoy all Flamingo Park and tennis court as your backyard. Unassigned Parking Space. Building has reserves. Fannie Mae approved, min downpayment. Updated

Key facts

• Art deco lobby
• Storage cage
• Pool

Tags

• IMPACT WINDOWS
• CLOSET SPACE
• STORAGE CAGE
• CONTROLLED INTERCOM SYSTEM
• ART DECO LOBBY
• POOL

Property features AI

Finance

• Other: No pet restrictions
• HOA & community: Monthly association fee; Association fee covers common areas, hot water, and structure maintenance; Association amenities: clubhouse, elevators, laundry, pool, storage, trash

Exterior

• Parking: Assigned parking (one space)
• Security: Intercom; Key card entry
• Utilities: Cable available
• Home design: Condominium in a 9-story building; Entry on level 8; Property is attached
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Open balcony; Security/high impact doors; Association pool

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Concrete
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Furnished; Eat-in kitchen; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-388 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (19.6% below list).
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $281k (19.6% below list) — sets the bar for cash-flow.
• Cap rate 6.4% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $3,972/mo this rent would consume 68% 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 $8k 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 83 days — a 6% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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 $280,533 (19.6% 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 83 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.14% ✓
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 7.3

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: -22.7%
• Equity multiple: 0.18×
• Total profit: $-80,132
• Equity at exit: $64,804

10-year hold

• IRR: -25.7%
• Equity multiple: -0.36×
• Total profit: $-132,922
• Equity at exit: $52,569

Cash invested: $97,720 (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: 7.3×

Monthly cashflow live

• Estimated rent: $3,972 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$325 /mo · $3,900/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$798
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $-388

Break-even live

Break-even rent $4,462

Max offer price $280,533

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1602 Meridian Ave Miami Beach, FL	4.0	1.0–3.0	917	$6,932	$7.56	14d	1	0.57mi
2201 Collins Ave Miami Beach, FL	1.0–3.0	1.0–2.0	1121	$22,000	$19.62	24d	2	1.30mi
102 24th St Miami Beach, FL	1.0–3.0	1.0–3.0	1479	$19,000	$12.85	19d	9	1.44mi
102 24th St Miami Beach, FL	1.0–3.0	1.0–3.0	1479	$19,000	$12.85	10d	9	1.44mi

HOA detail condo

• Monthly dues: $798 · $9,576/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-07
   days on market $349,000 Active 83 DOM
2. 2026-06-04
   days on market $349,000 Active 80 DOM
3. 2026-06-03
   days on market $349,000 Active 79 DOM
4. 2026-06-02
   days on market $349,000 Active 78 DOM
5. 2026-06-01
   days on market $349,000 Active 77 DOM
6. 2026-05-31
   days on market $349,000 Active 76 DOM
7. 2026-03-16
   listed $349,000 Active
8. 2025-10-27
   historical $2,800
9. 2025-10-24
   historical
10. 2025-09-24
    listed $349,000 Active
11. 2025-09-01
    historical
12. 2025-07-10
    listed $2,800
13. 2025-06-27
    historical $2,900
14. 2025-06-19
    listed $349,000 Active
15. 2025-06-18
    historical
16. 2025-05-15
    price $2,900
17. 2025-05-01
    price $349,000
18. 2025-04-11
    price $359,000
19. 2025-01-29
    listed $3,000
20. 2024-12-18
    listed $369,000 Active
21. 2024-08-08
    historical $2,800
22. 2024-07-29
    listed $2,800
23. 2024-05-24
    historical $2,800
24. 2024-04-26
    historical
25. 2024-04-12
    listed $2,800
26. 2024-04-10
    listed $375,000 Active
27. 2022-11-16
    soldstatus $310,000
28. 2022-11-08
    soldstatus $310,000 Closed
29. 2022-10-19
    historical Active Under Contract
30. 2022-09-30
    price $310,000
31. 2022-09-13
    listed $300,000 Active
32. 2021-10-22
    historical
33. 2021-08-05
    status Active
34. 2021-07-06
    historical Active Under Contract
35. 2021-05-04
    listed $265,000 Active
36. 2018-02-02
    historical
37. 2017-12-11
    price $269,000
38. 2017-09-27
    price $279,000
39. 2017-09-27
    listed $27,900 Active
40. 2005-02-25
    soldstatus $230,000
41. 2003-05-16
    soldstatus $160,000
42. 1984-03-01
    soldstatus $39,000

ⓘ 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: $3,900 · $325/mo
• Projected year-2 tax: $3,900 · $325/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 4/10 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: $47,660
• − Mortgage interest: −$19,549
• − Property taxes: −$3,900
• − Insurance: −$6,864
• − Repairs & maintenance: −$3,813
• − Management: −$3,813
• − HOA: −$9,576
• − Depreciation: −$10,153
• Taxable loss: −$10,008
• Est. tax savings @ 24.0%: +$2,402
• After-tax cash flow: $-2,249/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

+794.9% since first listed

36 events — show timeline

• 2026-03-16 Listed $349,000 MARMLS
• 2025-10-27 Rental Removed $2,800 MARMLS
• 2025-10-24 Listing Removed — MARMLS
• 2025-09-24 Listed $349,000 MARMLS
• 2025-09-01 Listing Removed — MARMLS
• 2025-07-10 Listed for Rent $2,800 MARMLS
• 2025-06-27 Rental Removed $2,900 MARMLS
• 2025-06-19 Listed $349,000 MARMLS
• 2025-06-18 Listing Removed — MARMLS
• 2025-05-15 Price Changed $2,900 MARMLS
• 2025-05-01 Price Changed $349,000 MARMLS
• 2025-04-11 Price Changed $359,000 MARMLS
• 2025-01-29 Listed for Rent $3,000 MARMLS
• 2024-12-18 Listed $369,000 MARMLS
• 2024-08-08 Rental Removed $2,800 MARMLS
• 2024-07-29 Listed for Rent $2,800 MARMLS
• 2024-05-24 Rental Removed $2,800 MARMLS
• 2024-04-26 Listing Removed — MARMLS
• 2024-04-12 Listed for Rent $2,800 MARMLS
• 2024-04-10 Listed $375,000 MARMLS
• 2022-11-16 Sold (Public Records) $310,000 Public Records
• 2022-11-08 Sold (MLS) $310,000 MARMLS
• 2022-10-19 Contingent — MARMLS
• 2022-09-30 Price Changed $310,000 MARMLS
• 2022-09-13 Listed $300,000 MARMLS
• 2021-10-22 Listing Removed — MARMLS
• 2021-08-05 Relisted — MARMLS
• 2021-07-06 Contingent — MARMLS
• 2021-05-04 Listed $265,000 MARMLS
• 2018-02-02 Listing Removed — MARMLS
• 2017-12-11 Price Changed $269,000 MARMLS
• 2017-09-27 Price Changed $279,000 MARMLS
• 2017-09-27 Listed $27,900 MARMLS
• 2005-02-25 Sold (Public Records) $230,000 Public Records
• 2003-05-16 Sold (Public Records) $160,000 Public Records
• 1984-03-01 Sold (Public Records) $39,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,900 · -2.9% YoY. Source: county tax records.