5601 Collins Ave #1718 · Miami Beach, FL 33140

$520,000

1 bd · 1.0 ba · 930 sqft · Condo public records · 33 Days on market

Built 1968

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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).

• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0

Listing remarks

Breathtaking views of the bay and intracoastal from this comfortable and spacious apartment on the 17th floor. A fantastic opportunity to update and customize this space into a profitable investment property or your perfect vacation retreat. This desirable building offers a 24 hrs security, a heated pool, barbecue area, beautiful maintained patio, and a state-of-the-art gym. Short term rentals are allowed, making this an excellent income-producing opportunity. Enjoy it as your personal getaway or generate rental income year-around.

Key facts

• Breathtaking views
• Barbecue area
• Heated pool

Tags

• BREATHTAKING VIEWS
• HEATED POOL
• BARBECUE AREA
• STATE-OF-THE-ART GYM
• SHORT TERM RENTALS ALLOWED

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association covers common areas, hot water, insurance, internet, laundry, grounds and structure maintenance, parking, pest control, pool(s), sewer, security, trash and water; On-site amenities include bike storage, fitness center, laundry, barbecue, picnic area, pool, trash service and elevators

Exterior

• Parking: One covered parking space; Valet available; Garage (1 space)
• Security: Security guard; Security/high-impact doors; Smoke detector(s)
• Utilities: Central air; Electric water heater
• Home design: Condo/Apartment in an 18-story building; Entry on level 17; Property is attached
• Construction: Block construction; Resale property
• Exterior features: Barbecue; Deck; Patio; Security/high-impact doors; Exterior lighting; Heated pool; Has view; Security guard; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Bedroom on main level; 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 $520k.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $464k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $466k (10.3% below list).
• Recommended offer: $464k (10.8% below list) — sets the bar for cash-flow.
• Cap rate 3.9% 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.
• 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); 672 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,663/mo this rent would consume 52% of the median local household income ($107k/yr) (locally 870% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($4k loan paydown + $5k 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.
• By year 4, 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 33 days — a 3% lower offer ($504k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; list at $520k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $463,618 (10.8% 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 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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. 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?
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: 0.90% ✗
• Cap rate: 3.90%
• Cash-on-cash: -8.56%
• DSCR: 0.62
• GRM: 9.3

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: -11.0%
• Equity multiple: 0.44×
• Total profit: $-81,006
• Equity at exit: $176,571

10-year hold

• IRR: -4.4%
• Equity multiple: 0.45×
• Total profit: $-79,809
• Equity at exit: $233,916

Cash invested: $145,600 (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: 672
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $4,663 medium
• Mortgage (P&I): −$2,727
• Tax from tax record: −$633 /mo · $7,593/yr
• Insurance: −$217
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 15 same-building comps: −$1,146
• Vacancy / Maint / Mgmt: −$979
• Net cashflow: $-1,465

Break-even live

Break-even rent $6,518

Max offer price $261,172

Occupancy floor —

Sensitivity live

Price	-10% $-1,171	-5% $-1,318	+0% $-1,465	+5% $-1,612	+10% $-1,760
Rent	-10% $-1,834	-5% $-1,649	+0% $-1,465	+5% $-1,281	+10% $-1,097
Rate	-1.0pp $-1,203	-0.5pp $-1,333	base $-1,465	+0.5pp $-1,600	+1.0pp $-1,737

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   remarks 537-char remark
2. 2026-06-21
   pricedays on market $520,000 Active 33 DOM
3. 2026-06-18
   days on market $540,000 Active 30 DOM
4. 2026-06-17
   days on market $540,000 Active 29 DOM
5. 2026-06-16
   days on market $540,000 Active 28 DOM
6. 2026-06-15
   days on market $540,000 Active 27 DOM
7. 2026-06-13
   days on market $540,000 Active 25 DOM
8. 2026-06-09
   days on market $540,000 Active 21 DOM
9. 2026-06-08
   days on market $540,000 Active 20 DOM
10. 2026-06-07
    days on market $540,000 Active 19 DOM
11. 2026-06-04
    days on market $540,000 Active 16 DOM
12. 2026-06-03
    days on market $540,000 Active 15 DOM
13. 2026-06-02
    days on market $540,000 Active 14 DOM
14. 2026-06-01
    days on market $540,000 Active 13 DOM
15. 2026-05-31
    days on market $540,000 Active 12 DOM
16. 2026-05-18
    listed $540,000 Active
17. 1998-02-03
    soldstatus $135,000
18. 1994-06-22
    soldstatus $117,000
19. 1994-06-01
    soldstatus $117,000

ⓘ 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: $7,593 · $633/mo
• Projected year-2 tax: $7,593 · $633/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 · 98% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,955
• − Mortgage interest: −$29,128
• − Property taxes: −$7,593
• − Insurance: −$7,718
• − Repairs & maintenance: −$4,476
• − Management: −$4,476
• − HOA: −$13,752
• − Depreciation: −$15,127
• Taxable loss: −$26,316
• Est. tax savings @ 24.0%: +$6,316
• After-tax cash flow: $-11,266/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

+361.5% since first listed

4 events — show timeline

• 2026-05-18 Listed $540,000 MARMLS
• 1998-02-03 Sold (Public Records) $135,000 Public Records
• 1994-06-22 Sold (Public Records) $117,000 Public Records
• 1994-06-01 Sold (Public Records) $117,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $7,593 · +5.5% YoY. Source: county tax records.