4740 Pine Tree Dr #26 · Miami Beach, FL 33140

$179,900

1 bd · 1.0 ba · 500 sqft · Condo public records · 69 Days on market

Built 1948 $550/mo HOA · 15% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

Cute well-located 500 square foot 1 bedroom apartment in a 36 unit coop just north of 47th street on pinetree drive in Miami Beach. The lighthouse coop is across Lake Surprise from an ultra luxury residential development. Seller owns 5 apartments in this coop and would sell all 5. See Multiple listing #A11934282.

Key facts

• $550 HOA
• Community pool
• Built 1948

Property features AI

Finance

• Financial info: Land lease $7,500 annually; Lease considered; Pets allowed (no pet restrictions)
• HOA & community: Association fee $550 monthly; Community of 36 units; Association amenities include pier and pool; Association fee covers management, amenities, common areas, legal/accounting, grounds maintenance, structure maintenance, and roof

Exterior

• Parking: On-street parking
• Utilities: Has electricity; Has cooling
• Home design: Attached property; 2-story building; Entry on level 2
• Construction: Block construction; Year built unknown
• Exterior features: Courtyard; Canal-front waterfront

Interior

• Kitchen: Gas range; Refrigerator; Some gas appliances
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood/Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window cooling units
• Interior features: Second floor entry; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 rising (+3.5%/yr); 670 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 42% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.0% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.0% appreciation + 3.5% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 2.08% ✓
• Cap rate: 14.63%
• Cash-on-cash: 29.76%
• DSCR: 2.32
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.96% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.15×
• Total profit: $58,032
• Equity at exit: $61,087

10-year hold

• IRR: 25.9%
• Equity multiple: 4.22×
• Total profit: $162,054
• Equity at exit: $80,926

Cash invested: $50,372 (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 33140

• Home prices YoY: 0.3%
• Rents YoY: 3.5%
• Active inventory: 670
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,750 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$550
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $823

Break-even live

Break-even rent $2,709

Max offer price $179,900

Occupancy floor 73%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $179,900 Active 69 DOM
2. 2026-06-17
   days on market $179,900 Active 68 DOM
3. 2026-06-16
   days on market $179,900 Active 67 DOM
4. 2026-06-15
   days on market $179,900 Active 66 DOM
5. 2026-06-13
   days on market $179,900 Active 64 DOM
6. 2026-06-09
   days on market $179,900 Active 60 DOM
7. 2026-06-08
   days on market $179,900 Active 59 DOM
8. 2026-06-07
   days on market $179,900 Active 58 DOM
9. 2026-06-04
   days on market $179,900 Active 55 DOM
10. 2026-06-03
    days on market $179,900 Active 54 DOM
11. 2026-06-02
    days on market $179,900 Active 53 DOM
12. 2026-06-01
    days on market $179,900 Active 52 DOM
13. 2026-05-31
    days on market $179,900 Active 51 DOM
14. 2026-04-10
    listed $179,900 Active

ⓘ 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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,003
• − Mortgage interest: −$10,077
• − Property taxes: −$1,741
• − Insurance: −$6,018
• − Repairs & maintenance: −$3,600
• − Management: −$3,600
• − HOA: −$6,600
• − Depreciation: −$5,233
• Taxable income: $8,133
• Est. tax owed @ 24.0%: −$1,952
• After-tax cash flow: $7,920/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): 20,342
• Household income: $107,063
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 870.0

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 0.59)
• Race & ethnicity: White 46% Hispanic / Latino 44% Two or more races 23% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 19% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Italian 3%
• Foreign-born: 44% · Canada, Dominican Republic, Jamaica
• Languages at home: 43% English-only · Spanish 45% Other Indo-European 6% French/Haitian/Cajun 2%

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: ▲ 0.96%
• Current HPI: 302.8514
• Rent YoY: ▲ 3.52%
• 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

1 event — show timeline

• 2026-04-10 Listed $179,900 MARMLS

Property tax history

+1.7%/yr

Latest (2025): $1,741 · -24.5% YoY. Source: county tax records.