1035 Meridian Ave #5 · Miami Beach, FL 33139

$219,900

1 bd · 1.0 ba · 426 sqft · Condo public records · 6 Days on market

Built 1965 $383/mo HOA · 12% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• 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 MLS

Studio apartment on quiet street. Wood floors in bedroom/living area. Walking distance to beach, shops, restaurants and clubs. Great for an investor. Prefer cash buyers. Landscaped courtyard common area with picnic table. 3 closets.

Key facts

• $383 HOA
• 2 parking spots
• Built 1965

Property features AI

Finance

• Financial info: Pets allowed (size limits and possible restrictions)
• HOA & community: Has association; Monthly HOA fee of 383; HOA covers water, grounds maintenance and common areas; Community amenities include laundry, on-site management, manager on site, trash chute, maintained community, sidewalks, street lights, security

Exterior

• Parking: 2 assigned/guest parking spaces
• Security: Security system; Association provides security
• Utilities: Public water; Public sewer; Electricity connected (three phase); Cable available
• Home design: Condominium; One level; Resale; Faces west
• Construction: Built with stucco and CBS; Composition/shingle roof; 2 total stories (building)
• Exterior features: Open porch; Porch; Fenced; Paved road access; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Tile; Wood
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central electric heating; Electric cooling with ceiling fan(s)
• Interior features: Security system; French doors; Blinds; Single-hung metal windows; Unfurnished
• Laundry & utility: Laundry inside (in kitchen, main level)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Cap rate 10.1% 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); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 35% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.4%/yr); 1208 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,249/mo this rent would consume 56% 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 $5k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $74k; list at $220k implies a 197% gain — meaningful room to come down on a strong offer.

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 8→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,900

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 5.6

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: -8.3%
• Equity multiple: 0.68×
• Total profit: $-19,419
• Equity at exit: $40,832

10-year hold

• IRR: -5.7%
• Equity multiple: 0.64×
• Total profit: $-22,173
• Equity at exit: $33,123

Cash invested: $61,572 (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: 1208
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,249 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$235 /mo · $2,819/yr
• Insurance: −$92
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$383
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $277

Break-even live

Break-even rent $2,898

Max offer price $219,900

Occupancy floor 86%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $383 · $4,596/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $219,900 Active 6 DOM
2. 2026-06-17
   days on market $219,900 Active 5 DOM
3. 2026-06-16
   days on market $219,900 Active 4 DOM
4. 2026-06-15
   days on market $219,900 Active 3 DOM
5. 2026-06-13
   remarks 553-char remark
6. 2026-06-13
   listed $219,900 Active 1 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: $2,819 · $235/mo
• Projected year-2 tax: $2,819 · $235/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥101°F today · 31 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: $38,983
• − Mortgage interest: −$12,318
• − Property taxes: −$2,819
• − Insurance: −$6,218
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − HOA: −$4,596
• − Depreciation: −$6,397
• Taxable income: $398
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $3,230/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

+1732.5% since first listed

13 events — show timeline

• 2026-06-12 Listed $219,900 Beaches MLS
• 2026-05-14 Listing Removed — MARMLS
• 2025-05-16 Rental Removed $1,680 MARMLS
• 2025-04-25 Price Changed $1,680 MARMLS
• 2025-04-10 Listed for Rent $1,750 MARMLS
• 2025-03-17 Rental Removed $1,750 MARMLS
• 2025-03-07 Listed $225,000 MARMLS
• 2025-03-06 Price Changed $1,750 MARMLS
• 2025-02-26 Listed for Rent $1,800 MARMLS
• 2012-03-20 Sold (Public Records) $74,000 Public Records
• 2012-03-16 Sold (MLS) $74,000 MARMLS
• 1988-08-01 Sold (Public Records) $17,000 Public Records
• 1985-07-01 Sold (Public Records) $12,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,819 · -8.1% YoY. Source: county tax records.