1698 Jefferson Ave #9 · Miami Beach, FL 33139

$309,000

1 bd · 1.0 ba · 722 sqft · Condo public records · 52 Days on market

Built 1965 $720/mo HOA · 19% of rent

---

Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +5.2/10.0
• 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

Live the ultimate South Beach lifestyle in this beautifully updated and fully furnished 1-bedroom + den residence, ideally located in the heart of Miami Beach—just steps from Lincoln Road, the ocean, world-class dining, shopping, and vibrant nightlife. This turnkey home features a bright open-concept layout with sleek polished concrete floors and modern finishes throughout. The upgraded kitchen showcases marble countertops, stainless steel appliances, and a rare gas range—perfect for both everyday living and entertaining. The spacious primary bedroom offers ample closet space, while the versatile den provides the perfect space for a home office, guest area, or additional lounge.

Key facts

• Heart of miami beach
• Updated residence
• Fully furnished

Tags

• UPDATED RESIDENCE
• FULLY FURNISHED
• HEART OF MIAMI BEACH
• STEPS FROM LINCOLN ROAD
• BRIGHT OPEN-CONCEPT LAYOUT
• POLISHED CONCRETE FLOORS

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditional approval
• HOA & community: Association fee $720 monthly; Association covers amenities, laundry, parking, pool(s), roof, and water; Association amenities include bike storage, laundry, pool, and elevator(s)

Exterior

• Parking: Assigned parking with one covered space; Garage with 1 space and garage door opener
• Security: Complex fenced; Phone entry; Smoke detectors
• Utilities: Cable available
• Home design: 4-story building; Entry located on level 2; Effective year built
• Construction: Block construction
• Exterior features: Private courtyard; Storm/security shutters; Association pool

Interior

• Kitchen: Microwave; Self-cleaning oven; Some gas appliances
• Bedrooms: Den
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Second floor entry; Tub with shower; Elevator access; Updated/remodeled condition; Other interior features
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $309k.

Deal economics

• At list price, monthly cash flow is $-239 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (13.7% below list).
• Meets the 1% rule at list price ($4k rent vs $309k).
• Recommended offer: $267k (13.7% below list) — sets the bar for cash-flow.
• Cap rate 7.0% 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: Miami Beach Feinberg/Fisher K-8 (math 37% / reading 34%, grade F, #1,684 of 2,144 statewide, top 79%, 842 students, 61% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 48% FRL vs 64% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.4%/yr); 1216 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 $3,810/mo this rent would consume 66% 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 $7k 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 52 days — a 3% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $266,748 (13.7% 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 52 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — 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. 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: 1.23% ✓
• Cap rate: 7.02%
• Cash-on-cash: 2.60%
• DSCR: 1.12
• GRM: 6.8

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: -20.7%
• Equity multiple: 0.25×
• Total profit: $-65,102
• Equity at exit: $57,377

10-year hold

• IRR: -23.0%
• Equity multiple: -0.24×
• Total profit: $-107,055
• Equity at exit: $46,544

Cash invested: $86,520 (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: 1216
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,810 medium
• Mortgage (P&I): −$1,620
• Tax from tax record: −$353 /mo · $4,238/yr
• Insurance: −$129
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$720
• Vacancy / Maint / Mgmt: −$800
• Net cashflow: $-239

Break-even live

Break-even rent $4,113

Max offer price $266,748

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-152	+0% $-239	+5% $-327	+10% $-414
Rent	-10% $-540	-5% $-390	+0% $-239	+5% $-89	+10% $62
Rate	-1.0pp $-84	-0.5pp $-161	base $-239	+0.5pp $-319	+1.0pp $-401

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	16d	1	0.20mi
2201 Collins Ave Miami Beach, FL	1.0–3.0	1.0–2.0	1121	$22,000	$19.62	26d	2	0.77mi

HOA detail condo

• Monthly dues: $720 · $8,640/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $309,000 Active 52 DOM
2. 2026-06-18
   days on market $309,000 Active 49 DOM
3. 2026-06-17
   days on market $309,000 Active 48 DOM
4. 2026-06-16
   days on market $309,000 Active 47 DOM
5. 2026-06-15
   days on market $309,000 Active 46 DOM
6. 2026-06-13
   days on market $309,000 Active 44 DOM
7. 2026-06-09
   days on market $309,000 Active 40 DOM
8. 2026-06-08
   days on market $309,000 Active 39 DOM
9. 2026-06-07
   days on market $309,000 Active 38 DOM
10. 2026-06-04
    days on market $309,000 Active 35 DOM
11. 2026-06-03
    days on market $309,000 Active 34 DOM
12. 2026-06-02
    days on market $309,000 Active 33 DOM
13. 2026-06-01
    days on market $309,000 Active 32 DOM
14. 2026-05-31
    days on market $309,000 Active 31 DOM
15. 2026-05-20
    price $319,000
16. 2026-04-30
    listed $329,000 Active
17. 2025-08-11
    historical
18. 2025-06-29
    historical $2,500
19. 2025-06-23
    listed $2,500
20. 2025-06-22
    listed $325,000 Active
21. 2022-11-20
    status Active
22. 2022-06-14
    price $329,000
23. 2022-05-27
    listed $349,000 Active
24. 2022-05-14
    price $349,000
25. 2022-05-14
    listed $249,000 Active
26. 2022-04-21
    soldstatus $275,000
27. 2022-04-11
    soldstatus $275,000 Closed
28. 2022-03-28
    status Pending
29. 2022-03-24
    listed $279,995 Active
30. 2021-06-09
    soldstatus $210,000
31. 2021-05-25
    soldstatus $210,000 Closed
32. 2021-04-20
    historical Active Under Contract
33. 2021-04-05
    price $215,000
34. 2021-01-24
    price $225,000
35. 2020-12-29
    listed $249,000 Active
36. 2018-11-15
    historical
37. 2018-11-08
    listed $250,000 Active
38. 2005-04-27
    soldstatus $199,500
39. 1983-04-01
    soldstatus $39,000
40. 1974-03-01
    soldstatus $28,500

ⓘ 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: $4,238 · $353/mo
• Projected year-2 tax: $4,238 · $353/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 3/10 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: $45,718
• − Mortgage interest: −$17,309
• − Property taxes: −$4,238
• − Insurance: −$6,664
• − Repairs & maintenance: −$3,657
• − Management: −$3,657
• − HOA: −$8,640
• − Depreciation: −$8,989
• Taxable loss: −$7,437
• Est. tax savings @ 24.0%: +$1,785
• After-tax cash flow: $-1,085/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

+1019.3% since first listed

26 events — show timeline

• 2026-05-20 Price Changed $319,000 MARMLS
• 2026-04-30 Listed $329,000 MARMLS
• 2025-08-11 Listing Removed — MARMLS
• 2025-06-29 Rental Removed $2,500 MARMLS
• 2025-06-23 Listed for Rent $2,500 MARMLS
• 2025-06-22 Listed $325,000 MARMLS
• 2022-11-20 Relisted — MARMLS
• 2022-06-14 Price Changed $329,000 MARMLS
• 2022-05-27 Listed $349,000 MARMLS
• 2022-05-14 Price Changed $349,000 MARMLS
• 2022-05-14 Listed $249,000 MARMLS
• 2022-04-21 Sold (Public Records) $275,000 Public Records
• 2022-04-11 Sold (MLS) $275,000 MARMLS
• 2022-03-28 Pending — MARMLS
• 2022-03-24 Listed $279,995 MARMLS
• 2021-06-09 Sold (Public Records) $210,000 Public Records
• 2021-05-25 Sold (MLS) $210,000 MARMLS
• 2021-04-20 Contingent — MARMLS
• 2021-04-05 Price Changed $215,000 MARMLS
• 2021-01-24 Price Changed $225,000 MARMLS
• 2020-12-29 Listed $249,000 MARMLS
• 2018-11-15 Listing Removed — MARMLS
• 2018-11-08 Listed $250,000 MARMLS
• 2005-04-27 Sold (Public Records) $199,500 Public Records
• 1983-04-01 Sold (Public Records) $39,000 Public Records
• 1974-03-01 Sold (Public Records) $28,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $4,238 · -0.2% YoY. Source: county tax records.