7150 Indian Creek Dr #505 · Miami Beach, FL 33141

$222,000

1 bd · 1.0 ba · 875 sqft · Condo public records · 59 Days on market

Built 1979 $370/mo HOA · 8% 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
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large 875 sqft 1-bedroom, 1.5-bath condo in a boutique elevator building in North Beach (NoBe). Functional open layout with a spacious living area and defined dining space. Tile flooring throughout and classic kitchen in clean condition. Oversized primary bedroom with multiple closets and good natural light. Balcony with open city views. Secure building with gated entry, covered assigned parking, and community pool. LOW HOA includes water, and the Association has Reserves. 40-year certification completed. Dock with ocean access. Prime location within walking distance to the beach, shops, and restaurants. Easy access to Collins Ave, minutes to Bal Harbour and Aventura. Easy to show.

Key facts

• Secured building
• Natural light
• Open layout

Tags

• OPEN LAYOUT
• DEFINED DINING SPACE
• MULTIPLE CLOSETS
• NATURAL LIGHT
• SECURED BUILDING
• COVERED ASSIGNED PARKING

Property features AI

Finance

• Financial info: Pets allowed with size limit
• HOA & community: Homeowners association with monthly fee; HOA amenities: elevator(s), laundry, pool, lobby; HOA fee paid monthly; includes maintenance of grounds, sewer, trash, water, common areas, elevator, and pool service

Exterior

• Parking: Total 24 parking spaces; 1 garage space; 24 carport spaces; Attached carport; Detached garage; Assigned parking; Covered parking
• Security: Secured garage/parking; Smoke detectors; Secure elevator
• Utilities: Public water; Public sewer; Electricity available (circuit breakers, fuses); Cable available
• Home design: Condominium; Resale property; 5-story building; Entry at level 1; Faces west
• Construction: Block/Concrete/CBS construction
• Exterior features: Fenced; Private in-ground pool; Ocean access waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Closet cabinetry
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $222k).
• Recommended offer: $215k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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: Biscayne Beach Elementary School (math 42% / reading 49%, grade D-, #1,247 of 2,144 statewide, top 59%, 578 students, 63% 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).
• Market conditions: Rents flat; 644 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 6y ago 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 $56k; list at $222k implies a 296% 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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.05% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.12%
• DSCR: 2.43
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.51×
• Total profit: $31,951
• Equity at exit: $33,101

10-year hold

• IRR: 19.6%
• Equity multiple: 2.40×
• Total profit: $87,016
• Equity at exit: $19,195

Cash invested: $62,160 (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 33141

• Rents YoY: 0.4%
• Active inventory: 644
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $4,556 medium
• Mortgage (P&I): −$1,164
• Tax from tax record: −$309 /mo · $3,703/yr
• Insurance: −$92
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$370
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $1,237

Break-even live

Break-even rent $2,990

Max offer price $222,000

Occupancy floor 68%

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: waterpoolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-13
   days on market $222,000 Active 59 DOM
2. 2026-06-09
   days on market $222,000 Active 55 DOM
3. 2026-06-08
   days on market $222,000 Active 54 DOM
4. 2026-06-07
   days on market $222,000 Active 53 DOM
5. 2026-06-04
   days on market $222,000 Active 50 DOM
6. 2026-06-03
   days on market $222,000 Active 49 DOM
7. 2026-06-02
   days on market $222,000 Active 48 DOM
8. 2026-06-01
   days on market $222,000 Active 47 DOM
9. 2026-05-31
   days on market $222,000 Active 46 DOM
10. 2026-04-14
    listed $227,000 Active
11. 2026-04-05
    historical
12. 2026-03-19
    price $225,000
13. 2026-03-13
    historical $1,700
14. 2026-03-05
    price $210,000
15. 2026-01-19
    listed $240,000 Active
16. 2025-11-29
    price $1,700
17. 2025-09-25
    listed $2,100
18. 2025-09-25
    historical $2,300
19. 2025-09-10
    listed $2,300
20. 2025-09-10
    historical $2,300
21. 2025-08-22
    listed $2,300
22. 2025-08-13
    historical
23. 2025-04-23
    price $230,000
24. 2025-03-12
    listed $270,000 Active
25. 2025-03-12
    historical
26. 2025-03-05
    listed $270,000 Active
27. 2025-01-17
    historical
28. 2025-01-08
    price $275,000
29. 2024-05-04
    price $285,000
30. 2024-02-26
    listed $335,000 Active
31. 2023-10-11
    historical
32. 2023-10-04
    price $295,000
33. 2023-10-02
    status Active
34. 2023-04-19
    listed $312,000 Active
35. 2021-05-19
    historical
36. 2021-05-07
    price $221,900
37. 2021-03-05
    listed $224,900 Active
38. 2020-08-31
    historical
39. 2020-06-09
    status Active
40. 2020-04-08
    historical Hold
41. 2020-03-04
    listed $215,000 Active
42. 1998-08-26
    soldstatus $56,000
43. 1994-07-20
    soldstatus $51,300

ⓘ 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: $3,703 · $309/mo
• Projected year-2 tax: $3,703 · $309/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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,667
• − Mortgage interest: −$12,435
• − Property taxes: −$3,703
• − Insurance: −$6,229
• − Repairs & maintenance: −$4,373
• − Management: −$4,373
• − HOA: −$4,440
• − Depreciation: −$6,458
• Taxable income: $12,655
• Est. tax owed @ 24.0%: −$3,037
• After-tax cash flow: $11,808/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): 36,438
• Household income: $68,738
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 3521.0

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: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 36% White 20% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 27% Salvadoran 6%
• Common ancestry: Scotch-Irish 2% Romanian 2% Armenian 1%
• Foreign-born: 62% · Canada, Jamaica, Dominican Republic
• Languages at home: 18% English-only · Spanish 69% Other Indo-European 4% 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: ▼ -472.71%
• Current HPI: 336.7298
• Rent YoY: ▲ 0.44%
• 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

+342.5% since first listed

34 events — show timeline

• 2026-04-14 Listed $227,000 Beaches MLS
• 2026-04-05 Listing Removed — MARMLS
• 2026-03-19 Price Changed $225,000 MARMLS
• 2026-03-13 Rental Removed $1,700 GFLMLS
• 2026-03-05 Price Changed $210,000 MARMLS
• 2026-01-19 Listed $240,000 MARMLS
• 2025-11-29 Price Changed $1,700 GFLMLS
• 2025-09-25 Listed for Rent $2,100 GFLMLS
• 2025-09-25 Rental Removed $2,300 RMLSFL
• 2025-09-10 Listed for Rent $2,300 RMLSFL
• 2025-09-10 Rental Removed $2,300 GFLMLS
• 2025-08-22 Listed for Rent $2,300 GFLMLS
• 2025-08-13 Listing Removed — Beaches MLS
• 2025-04-23 Price Changed $230,000 Beaches MLS
• 2025-03-12 Listing Removed — MARMLS
• 2025-03-12 Listed $270,000 Beaches MLS
• 2025-03-05 Listed $270,000 MARMLS
• 2025-01-17 Listing Removed — MARMLS
• 2025-01-08 Price Changed $275,000 MARMLS
• 2024-05-04 Price Changed $285,000 MARMLS
• 2024-02-26 Listed $335,000 MARMLS
• 2023-10-11 Listing Removed — MARMLS
• 2023-10-04 Price Changed $295,000 MARMLS
• 2023-10-02 Relisted — MARMLS
• 2023-04-19 Listed $312,000 MARMLS
• 2021-05-19 Listing Removed — MARMLS
• 2021-05-07 Price Changed $221,900 MARMLS
• 2021-03-05 Listed $224,900 MARMLS
• 2020-08-31 Listing Removed — MARMLS
• 2020-06-09 Relisted — MARMLS
• 2020-04-08 Delisted — MARMLS
• 2020-03-04 Listed $215,000 MARMLS
• 1998-08-26 Sold (Public Records) $56,000 Public Records
• 1994-07-20 Sold (Public Records) $51,300 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,703 · +3.3% YoY. Source: county tax records.