7135 Collins Ave #621 · Miami Beach, FL 33141

$340,000

1 bd · 2.0 ba · 1,010 sqft · Condo public records · 427 Days on market

Built 1970 $976/mo HOA · 24% 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 +11.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Burleigh House. Oceanfront, updated building on the beach. Great opportunity! Spacious one bedroom convertible on the 6th floor with city view. Gorgeous pool. This is a Bank owned property sold "AS IS-WHERE IS. " Seller & Listing Agents make no representat ions or warranties as to the condition of the Property, improvements or appurtenances. S/A and buyer are responsible for verifying all condo association information. See attachments for submitting offers. No exceptions.

Key facts

• Fitness center
• 24-hour security
• Assigned parking

Tags

• HURRICANE-IMPACT WINDOWS
• MODERNIZED LOBBY
• 24-HOUR SECURITY
• FITNESS CENTER
• ASSIGNED PARKING

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Quarterly association fee; Association covers common areas, cable TV, internet, laundry, building maintenance, pest control, sewer, security and water; Community amenities include billiard room, clubhouse, fitness center, laundry, pool and elevators

Exterior

• Parking: Assigned parking with one covered space; Valet available; Secured garage (1 garage space)
• Security: Secured garage/parking; Lobby secured; Smoke detectors
• Utilities: Cable available
• Home design: Attached property; High-rise building (19 stories); Entry on level 6
• Construction: Block construction; Resale unit
• Exterior features: Oceanfront; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Impact glass windows; Breakfast area; Eat-in kitchen; Walk-in closet(s); Den; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (8.5% below list).
• Meets the 1% rule at list price ($4k rent vs $340k).
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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 flat; 644 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,026/mo this rent would consume 70% 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 $10k 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 427 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $175k; list at $340k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,200 (12.0% 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 427 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — 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: 1.18% ✓
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 7.0

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: -23.7%
• Equity multiple: 0.21×
• Total profit: $-74,974
• Equity at exit: $50,695

10-year hold

• IRR: -33.9%
• Equity multiple: -0.21×
• Total profit: $-115,417
• Equity at exit: $29,397

Cash invested: $95,200 (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: 7.0×

Monthly cashflow live

• Estimated rent: $4,026 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$377 /mo · $4,526/yr
• Insurance: −$142
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$976
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $-164

Break-even live

Break-even rent $4,233

Max offer price $311,043

Occupancy floor 99%

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
580 72nd St Unit 1263798P Miami Beach, FL	2.0–3.0	1.0–2.0	1194	$7,494	$6.28	1d	2	0.23mi
8701 Collins Ave #304 Surfside, FL	2.0	2.5	1457	$25,000	$17.16	24d	1	1.07mi

HOA detail condo

• Monthly dues: $976 · $11,712/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $340,000 Active 427 DOM
2. 2026-06-17
   days on market $340,000 Active 426 DOM
3. 2026-06-16
   days on market $340,000 Active 425 DOM
4. 2026-06-15
   days on market $340,000 Active 424 DOM
5. 2026-06-13
   days on market $340,000 Active 422 DOM
6. 2026-06-09
   days on market $340,000 Active 418 DOM
7. 2026-06-08
   pricedays on market $340,000 Active 417 DOM
8. 2026-06-08
   days on market $365,000 Active 416 DOM
9. 2026-06-04
   days on market $365,000 Active 413 DOM
10. 2026-06-03
    days on market $365,000 Active 412 DOM
11. 2026-06-02
    days on market $365,000 Active 411 DOM
12. 2026-06-01
    days on market $365,000 Active 410 DOM
13. 2026-05-31
    days on market $365,000 Active 409 DOM
14. 2025-11-06
    price $365,000
15. 2025-04-15
    listed $315,000 Active
16. 2023-06-30
    historical
17. 2023-02-16
    price $395,000
18. 2023-01-17
    listed $420,000 Active
19. 2012-07-23
    soldstatus $175,100 492-char remark

    Show marketing remark (492 chars)

    Burleigh House. Oceanfront, updated building on the beach. Great opportunity! Spacious one bedroom convertible on the 6th floor with city view. Gorgeous pool. This is a Bank owned property sold "AS IS-WHERE IS. " Seller & Listing Agents make no representat ions or warranties as to the condition of the Property, improvements or appurtenances. S/A and buyer are responsible for verifying all condo association information. See attachments for submitting offers. No exceptions.

20. 2003-09-29
    soldstatus $152,000
21. 2002-07-30
    soldstatus $119,900
22. 1988-09-01
    soldstatus $45,000

ⓘ 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: $4,526 · $377/mo
• Projected year-2 tax: $4,526 · $377/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 X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°F today · 27 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: $48,310
• − Mortgage interest: −$19,045
• − Property taxes: −$4,526
• − Insurance: −$2,498
• − Repairs & maintenance: −$3,865
• − Management: −$3,865
• − HOA: −$11,712
• − Depreciation: −$9,891
• Taxable loss: −$7,092
• Est. tax savings @ 24.0%: +$1,702
• After-tax cash flow: $-265/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

+711.1% since first listed

9 events — show timeline

• 2025-11-06 Price Changed $365,000 MARMLS
• 2025-04-15 Listed $315,000 MARMLS
• 2023-06-30 Listing Removed — MARMLS
• 2023-02-16 Price Changed $395,000 MARMLS
• 2023-01-17 Listed $420,000 MARMLS
• 2012-07-23 Sold (MLS) $175,100 MARMLS
• 2003-09-29 Sold (Public Records) $152,000 Public Records
• 2002-07-30 Sold (Public Records) $119,900 Public Records
• 1988-09-01 Sold (Public Records) $45,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,526 · -10.1% YoY. Source: county tax records.