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

$179,900

1 bd · 1.0 ba · 500 sqft · Condo public records · 166 Days on market

Built 1948 Fair condition $360/sqft · 12% below area Est $204k · 12% under $550/mo HOA · 18% of rent

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Why this score? — see what drove the A- 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
• ARV discount +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.5/10.0
• Schools +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0

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

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 0.6% 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: North Beach Elementary School (math 75% / reading 79%, grade A, #170 of 2,144 statewide, top 9%, 937 students, 24% 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 36% FRL vs 64% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 907 active listings in the ZIP; 2 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).
• This rent runs 35% 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 ~6 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 166 days — a 12% lower offer ($158k) 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 $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1948 — 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. 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.
11. 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.
12. 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: 1.73% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.72%
• DSCR: 1.79
• GRM: 4.8

CMA / ARV

• ARV (median comp): $203,573
• List price: $179,900
• Delta: -11.63%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4730 Pine Tree Dr #14	0.01mi	1/1.0	500 (0%)	12mo	$117,000	$234	90
4740 Pine Tree Dr #28	0.00mi	1/1.0	500 (0%)	14mo	$150,000	$300	88
4730 Pine Tree Dr #18	0.01mi	1/1.0	500 (0%)	23mo	$105,000	$210	80
3030 Collins Ave Unit 1F	1.13mi	1/1.0	461 (-8%)	13mo	$303,000	$657	41
5445 Collins Ave Unit L3	0.86mi	1/1.5	430 (-14%)	2mo	$275,000	$640	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 9.9%
• Equity multiple: 1.51×
• Total profit: $25,492
• Equity at exit: $61,087

10-year hold

• IRR: 14.5%
• Equity multiple: 2.80×
• Total profit: $90,828
• 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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $248,000 ($412/sqft)
• Median days on market: 436 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -1.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33140

• Home prices YoY: 0.3%
• Rents YoY: 3.5%
• Active inventory: 907
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,110 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: −$653
• Net cashflow: $317

Break-even live

Break-even rent $2,709

Max offer price $179,900

Occupancy floor 85%

Sensitivity live

Price	-10% $419	-5% $368	+0% $317	+5% $266	+10% $215
Rent	-10% $71	-5% $194	+0% $317	+5% $440	+10% $563
Rate	-1.0pp $408	-0.5pp $363	base $317	+0.5pp $271	+1.0pp $223

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4401 Collins Ave Unit 1540556P Miami Beach, FL	2.0	1.0–3.0	1076	$19,838	$18.44	0d	2	0.49mi
4391 Collins Ave Unit 1540431P Miami Beach, FL	1.0	1.0–2.0	796	$17,073	$21.44	18d	2	0.52mi

Property features AI

Finance

• Financial info: Land lease $7,500 annuallyLease consideredPets allowed (no pet restrictions)
• HOA & community: Association fee $550 monthlyCommunity of 36 unitsAssociation amenities include pier and poolAssociation fee covers management, amenities, common areas, legal/accounting, grounds maintenance, structure maintenance, and roof

Exterior

• Parking: On-street parking
• Utilities: Has electricityHas cooling
• Home design: Attached property2-story buildingEntry on level 2
• Construction: Block constructionYear built unknown
• Exterior features: CourtyardCanal-front waterfront

Interior

• Kitchen: Gas rangeRefrigeratorSome gas appliances
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood/Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingWall/window cooling units
• Interior features: Second floor entryBedroom on main level

HOA detail $550/mo · $6,600/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $179,900 Active 166 DOM
2. 2026-09-22
   days on market $179,900 Active 165 DOM
3. 2026-09-20
   days on market $179,900 Active 163 DOM
4. 2026-09-18
   days on market $179,900 Active 161 DOM
5. 2026-09-17
   days on market $179,900 Active 160 DOM
6. 2026-09-16
   days on market $179,900 Active 159 DOM
7. 2026-09-15
   days on market $179,900 Active 158 DOM
8. 2026-09-13
   days on market $179,900 Active 156 DOM
9. 2026-09-12
   days on market $179,900 Active 155 DOM
10. 2026-09-11
    days on market $179,900 Active 154 DOM
11. 2026-09-05
    days on market $179,900 Active 148 DOM
12. 2026-09-04
    days on market $179,900 Active 147 DOM
13. 2026-08-31
    days on market $179,900 Active 143 DOM
14. 2026-08-29
    days on market $179,900 Active 141 DOM
15. 2026-08-28
    days on market $179,900 Active 140 DOM
16. 2026-08-27
    days on market $179,900 Active 139 DOM
17. 2026-08-26
    days on market $179,900 Active 138 DOM
18. 2026-08-25
    days on market $179,900 Active 137 DOM
19. 2026-08-23
    days on market $179,900 Active 135 DOM
20. 2026-08-22
    days on market $179,900 Active 134 DOM
21. 2026-08-21
    days on market $179,900 Active 133 DOM
22. 2026-08-20
    days on market $179,900 Active 132 DOM
23. 2026-08-19
    days on market $179,900 Active 131 DOM
24. 2026-08-18
    days on market $179,900 Active 130 DOM
25. 2026-08-16
    days on market $179,900 Active 128 DOM
26. 2026-08-15
    days on market $179,900 Active 127 DOM
27. 2026-08-14
    days on market $179,900 Active 126 DOM
28. 2026-08-13
    days on market $179,900 Active 125 DOM
29. 2026-08-12
    days on market $179,900 Active 124 DOM
30. 2026-08-11
    days on market $179,900 Active 123 DOM
31. 2026-08-10
    days on market $179,900 Active 122 DOM
32. 2026-08-09
    days on market $179,900 Active 121 DOM
33. 2026-08-08
    days on market $179,900 Active 120 DOM
34. 2026-08-06
    days on market $179,900 Active 118 DOM
35. 2026-08-05
    days on market $179,900 Active 117 DOM
36. 2026-08-04
    days on market $179,900 Active 116 DOM
37. 2026-08-03
    days on market $179,900 Active 115 DOM
38. 2026-07-31
    days on market $179,900 Active 112 DOM
39. 2026-07-28
    days on market $179,900 Active 109 DOM
40. 2026-07-24
    days on market $179,900 Active 105 DOM
41. 2026-07-23
    days on market $179,900 Active 104 DOM
42. 2026-07-22
    days on market $179,900 Active 103 DOM
43. 2026-07-21
    days on market $179,900 Active 102 DOM
44. 2026-07-20
    days on market $179,900 Active 101 DOM
45. 2026-07-18
    days on market $179,900 Active 99 DOM
46. 2026-07-16
    days on market $179,900 Active 97 DOM
47. 2026-07-15
    days on market $179,900 Active 96 DOM
48. 2026-07-13
    days on market $179,900 Active 94 DOM
49. 2026-07-13
    days on market $179,900 Active 93 DOM
50. 2026-07-11
    days on market $179,900 Active 92 DOM

ⓘ 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: $37,325
• − Mortgage interest: −$10,077
• − Property taxes: −$1,741
• − Insurance: −$6,018
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − HOA: −$6,600
• − Depreciation: −$5,233
• Taxable income: $1,683
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $3,402/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $12,500–$22,500 screening

This 500 square foot townhouse in Miami Beach requires extensive repairs and maintenance, including roof, siding, and interior updates. Significant improvements in these areas would significantly increase its resale and rental value.

Repairs flagged

• Major roof — Significant damage and wear visible.
• Major siding — Significant wear and tear visible.
• Major landscaping — Overgrown and in need of trimming.
• Major fencing — In poor condition and may need repair or replacement.
• Major interior walls/paint — Likely in poor condition based on exterior condition.
• Major kitchen/bath flooring — Likely in poor condition based on exterior condition.
• Major HVAC/mechanicals — Likely in poor condition based on exterior condition.
• Major foundation/structure — Likely in poor condition based on exterior condition.

Value-add opportunities

• Both roof repair — Fixing the roof would improve both the resale and rental value. ↑
• Both landscaping and fencing repair — Maintaining the landscaping and fencing would improve curb appeal and safety. ↑
• Both interior painting and updates — Updating the interior would improve the overall condition and appearance of the property. ↑
• Both HVAC and mechanical updates — Upgrading the HVAC and mechanical systems would improve comfort and energy efficiency, enhancing both resale and rental value. ↑
• Both kitchen and bathroom updates — Updating the kitchen and bathroom would improve functionality and aesthetics, enhancing both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary North Beach Elementary School A FL #170/2,144 Nat'l #1,658/41,679 Middle Miami Beach Nautilus Middle School C+ FL #217/571 Nat'l #3,033/14,009 High Miami Beach Senior High School F FL #386/667 Nat'l #9,639/17,239

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

A Composite livability gradescore 80/100

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 · 3,126,439 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: 19% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Land lease $7,500 annuallyLease consideredPets allowed (no pet restrictions)
• HOA & community: Association fee $550 monthlyCommunity of 36 unitsAssociation amenities include pier and poolAssociation fee covers management, amenities, common areas, legal/accounting, grounds maintenance, structure maintenance, and roof

Exterior

• Parking: On-street parking
• Utilities: Has electricityHas cooling
• Home design: Attached property2-story buildingEntry on level 2
• Construction: Block constructionYear built unknown
• Exterior features: CourtyardCanal-front waterfront

Interior

• Kitchen: Gas rangeRefrigeratorSome gas appliances
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood/Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingWall/window cooling units
• Interior features: Second floor entryBedroom on main level

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.