7300 Wayne Ave #405 · Miami Beach, FL 33141

$360,000

2 bd · 2.0 ba · 1,073 sqft · Condo public records · 121 Days on market

Built 1980 $797/mo HOA · 19% of rent

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Why this score? — see what drove the C- 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 +18.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• DSCR +5.8/10.0
• 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 MLS

BEAUTIFUL 2 BD/2 BTH WITH LARGE BALCONY - SPLIT BEDROOM - TILE FLOORS - EAT-IN KITCHEN - COVERED PARKING - EXTERIOR OF BLDG UNDER RENOVATION, ASSESTMENT PAID BY SELLER.

Key facts

• Travertine bathrooms
• Marble floors
• Split floor plan

Tags

• SPLIT FLOOR PLAN
• IMPACT WINDOWS AND DOORS
• TANKLESS WATER HEATER
• MARBLE FLOORS
• TRAVERTINE BATHROOMS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association amenities: bike storage, laundry, pool, storage, elevator(s); Association fees cover amenities, cable TV, insurance, internet, laundry, structure maintenance, pest control, pool(s), reserve fund, sewer, trash, water

Exterior

• Parking: Covered parking (1 space); Secured garage/parking; Has garage (1-car)
• Security: Complex fenced; Lobby secured; Smoke detector(s)
• Utilities: Water included in association; Sewer included in association; Cable TV included in association; Internet included in association; Trash service included in association; Power: Central HVAC
• Home design: Condominium (attached); 5-story building; Entry on level 4; Effective year built
• Construction: Block construction
• Exterior features: Balcony (open); Security/high-impact doors; Association pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Laminate; Marble
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Split bedroom layout; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $344k (4.5% below list).
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $317k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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); 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 49% FRL vs 64% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 648 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,171/mo this rent would consume 73% of the median local household income ($69k/yr) (locally 3521% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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

• It's been on market 121 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $250k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $316,800 (12.0% 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 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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: 1.16% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 7.2

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: -21.9%
• Equity multiple: 0.26×
• Total profit: $-74,095
• Equity at exit: $53,677

10-year hold

• IRR: -27.6%
• Equity multiple: -0.10×
• Total profit: $-110,456
• Equity at exit: $31,126

Cash invested: $100,800 (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: 648
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $4,171 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$126 /mo · $1,517/yr
• Insurance: −$150
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$797
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $-93

Break-even live

Break-even rent $4,288

Max offer price $343,637

Occupancy floor 97%

Sensitivity live

Price	-10% $111	-5% $9	+0% $-93	+5% $-195	+10% $-296
Rent	-10% $-422	-5% $-257	+0% $-93	+5% $72	+10% $237
Rate	-1.0pp $89	-0.5pp $-1	base $-93	+0.5pp $-186	+1.0pp $-281

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
580 72nd St Unit 1263798P Miami Beach, FL	2.0–3.0	1.0–2.0	1194	$7,494	$6.28	3d	2	0.23mi
8701 Collins Ave #304 Surfside, FL	2.0	2.5	1457	$25,000	$17.16	26d	1	1.06mi

HOA detail condo

• Monthly dues: $797 · $9,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $360,000 Active 121 DOM
2. 2026-06-18
   days on market $360,000 Active 118 DOM
3. 2026-06-17
   days on market $360,000 Active 117 DOM
4. 2026-06-16
   days on market $360,000 Active 116 DOM
5. 2026-06-15
   days on market $360,000 Active 115 DOM
6. 2026-06-13
   days on market $360,000 Active 113 DOM
7. 2026-06-09
   days on market $360,000 Active 109 DOM
8. 2026-06-08
   days on market $360,000 Active 108 DOM
9. 2026-06-07
   days on market $360,000 Active 107 DOM
10. 2026-06-04
    days on market $360,000 Active 104 DOM
11. 2026-06-03
    days on market $360,000 Active 103 DOM
12. 2026-06-02
    days on market $360,000 Active 102 DOM
13. 2026-06-01
    days on market $360,000 Active 101 DOM
14. 2026-05-31
    days on market $360,000 Active 100 DOM
15. 2026-02-19
    listed $360,000 Active
16. 2007-03-12
    soldstatus $250,000
17. 2007-03-08
    soldstatus $250,000 180-char remark

    Show marketing remark (180 chars)

    BEAUTIFUL 2 BD/2 BTH WITH LARGE BALCONY - SPLIT BEDROOM - TILE FLOORS - EAT-IN KITCHEN - COVERED PARKING - EXTERIOR OF BLDG UNDER RENOVATION, ASSESTMENT PAID BY SELLER.

18. 1981-06-01
    soldstatus $83,000
19. 1980-12-01
    soldstatus $61,000

ⓘ 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: $1,517 · $126/mo
• Projected year-2 tax: $2,988 · $249/mo
• Expected delta: +$1,471/yr (+$123/mo · 96.9%)

ⓘ 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 · 29 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: $50,054
• − Mortgage interest: −$20,166
• − Property taxes: −$1,517
• − Insurance: −$6,919
• − Repairs & maintenance: −$4,004
• − Management: −$4,004
• − HOA: −$9,564
• − Depreciation: −$10,473
• Taxable loss: −$6,593
• Est. tax savings @ 24.0%: +$1,582
• After-tax cash flow: $471/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

+490.2% since first listed

5 events — show timeline

• 2026-02-19 Listed $360,000 MARMLS
• 2007-03-12 Sold (Public Records) $250,000 Public Records
• 2007-03-08 Sold (MLS) $250,000 MARMLS
• 1981-06-01 Sold (Public Records) $83,000 Public Records
• 1980-12-01 Sold (Public Records) $61,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $1,517 · +3.7% YoY. Source: county tax records.