1784 Marseille Dr · Miami Beach, FL 33141

$1,430,000

8 bd · 4.0 ba · 3,784 sqft · MultiFamily public records · 289 Days on market

Built 1945

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

Key facts

• Highly walkable
• Fresh paint
• Waterfront community

Tags

• BRAND-NEW ROOF
• CENTRAL A/C
• UPDATED FLOORING
• FRESH PAINT
• WATERFRONT COMMUNITY
• HIGHLY WALKABLE

Property features AI

Finance

• Financial info: Rent includes water, sewer and trash collection
• HOA & community: On-site laundry facilities (community)

Exterior

• Parking: On-street parking; Total of 4 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Two-story building; Barrel roof; Block construction
• Construction: Block construction; Barrel roof
• Exterior features: Fenced yard; Exterior lighting

Interior

• Kitchen: Kitchen in each unit; Range in some units; Refrigerator in each unit; Other appliances present in some units
• Bedrooms: Multiple 2-bedroom units (each unit configured with 2 bedrooms)
• Flooring: Ceramic tile; Parquet
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central air; Ceiling fans; Wall/window AC units; Central heating; Wall furnace
• Interior features: Blinds on windows
• Laundry & utility: Washer in each unit; Dryer in some units; Electric meter for each unit

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/2.5-bath units multifamily listed at $1.43M.

Deal economics

• At list price, monthly cash flow is $6k ($76k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.43M).
• Recommended offer: $1.26M (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: Treasure Island Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 399 students, 59% 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 48% FRL vs 64% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 648 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $20,728/mo this rent would consume 362% 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 $10k of loan paydown is wiped out by about $43k 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 $400k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($1.26M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1945 — 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,258,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.45% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 5.7

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: 8.0%
• Equity multiple: 1.31×
• Total profit: $122,198
• Equity at exit: $213,218

10-year hold

• IRR: 15.0%
• Equity multiple: 2.07×
• Total profit: $427,301
• Equity at exit: $123,640

Cash invested: $400,400 (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: 23.0×

Monthly cashflow live

• Estimated rent: $20,728 medium
• Mortgage (P&I): −$7,499
• Tax from tax record: −$1,486 /mo · $17,826/yr
• Insurance: −$596
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,353
• Net cashflow: $6,368

Break-even live

Break-even rent $12,667

Max offer price $1,430,000

Occupancy floor 64%

Sensitivity live

Price	-10% $7,178	-5% $6,773	+0% $6,368	+5% $5,963	+10% $5,559
Rent	-10% $4,731	-5% $5,549	+0% $6,368	+5% $7,187	+10% $8,006
Rate	-1.0pp $7,088	-0.5pp $6,732	base $6,368	+0.5pp $5,998	+1.0pp $5,621

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	5	2.5	$20,728
Total (4 units)			$20,728

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: $357,500
• Closing costs: $42,900
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-21
   days on market $1,430,000 Active 289 DOM
2. 2026-06-18
   days on market $1,430,000 Active 286 DOM
3. 2026-06-17
   days on market $1,430,000 Active 285 DOM
4. 2026-06-16
   days on market $1,430,000 Active 284 DOM
5. 2026-06-15
   days on market $1,430,000 Active 283 DOM
6. 2026-06-13
   days on market $1,430,000 Active 281 DOM
7. 2026-06-09
   days on market $1,430,000 Active 277 DOM
8. 2026-06-08
   days on market $1,430,000 Active 276 DOM
9. 2026-06-08
   days on market $1,430,000 Active 275 DOM
10. 2026-06-04
    days on market $1,430,000 Active 272 DOM
11. 2026-06-03
    days on market $1,430,000 Active 271 DOM
12. 2026-06-02
    days on market $1,430,000 Active 270 DOM
13. 2026-06-01
    days on market $1,430,000 Active 269 DOM
14. 2026-05-31
    days on market $1,430,000 Active 268 DOM
15. 2025-09-04
    listed $1,430,000 Active
16. 2022-07-06
    soldstatus $1,300,000
17. 2020-11-04
    soldstatus $980,000
18. 2020-10-23
    soldstatus $980,000 Closed 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

19. 2020-07-18
    historical Active Under Contract 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

20. 2020-05-20
    price $950,000 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

21. 2020-03-19
    price $965,000 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

22. 2020-03-16
    price $965,500 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

23. 2020-03-02
    price $979,500 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

24. 2020-02-07
    price $980,500 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

25. 2020-02-05
    status Active 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

26. 2020-01-23
    historical Active Under Contract 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

27. 2020-01-04
    historical
28. 2020-01-03
    listed $985,500 Active 390-char remark

    Show marketing remark (390 chars)

    An amazing True Quadplex in prime Miami Beach Normandy Isle . Completely renovated with new roof , Central A/c and new floors on every unit freshly painted and of course fully occupied with an additional washer/ dryer generating an extra flow of $600-$700 every month . Solid Cap Rate . Must show Proof of funds prior to showing PLEASE CALL TODAY FOR MORE INFORMATION SELLERS ARE MOTIVATED!

29. 2019-12-28
    price $975,500
30. 2019-12-19
    price $985,500
31. 2019-12-11
    listed $990,000 Active
32. 2019-06-24
    soldstatus $770,000
33. 2019-06-13
    soldstatus $770,000
34. 2018-11-06
    listed $825,000
35. 2018-10-31
    historical
36. 2018-04-12
    listed $945,000
37. 2015-08-07
    soldstatus $615,000 Sold
38. 2015-07-06
    soldstatus $615,000
39. 2015-05-01
    price $677,000
40. 2015-02-06
    price $698,000
41. 2015-01-07
    price $729,000
42. 2014-11-02
    listed $749,000 Active
43. 1995-06-21
    soldstatus $183,000
44. 1990-03-13
    soldstatus $135,000
45. 1984-01-01
    soldstatus $100,000
46. 1978-10-01
    soldstatus $69,000
47. 1977-10-01
    soldstatus $64,100

ⓘ 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: $17,826 · $1,486/mo
• Projected year-2 tax: $17,826 · $1,486/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: $248,736
• − Mortgage interest: −$80,102
• − Property taxes: −$17,826
• − Insurance: −$12,268
• − Repairs & maintenance: −$19,899
• − Management: −$19,899
• − Depreciation: −$41,600
• Taxable income: $57,141
• Est. tax owed @ 24.0%: −$13,714
• After-tax cash flow: $62,704/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

+2130.9% since first listed

33 events — show timeline

• 2025-09-04 Listed $1,430,000 MARMLS
• 2022-07-06 Sold (Public Records) $1,300,000 Public Records
• 2020-11-04 Sold (Public Records) $980,000 Public Records
• 2020-10-23 Sold (MLS) $980,000 MARMLS
• 2020-07-18 Contingent — MARMLS
• 2020-05-20 Price Changed $950,000 MARMLS
• 2020-03-19 Price Changed $965,000 MARMLS
• 2020-03-16 Price Changed $965,500 MARMLS
• 2020-03-02 Price Changed $979,500 MARMLS
• 2020-02-07 Price Changed $980,500 MARMLS
• 2020-02-05 Relisted — MARMLS
• 2020-01-23 Contingent — MARMLS
• 2020-01-04 Listing Removed — MARMLS
• 2020-01-03 Listed $985,500 MARMLS
• 2019-12-28 Price Changed $975,500 MARMLS
• 2019-12-19 Price Changed $985,500 MARMLS
• 2019-12-11 Listed $990,000 MARMLS
• 2019-06-24 Sold (Public Records) $770,000 Public Records
• 2019-06-13 Sold (MLS) $770,000 Beaches MLS
• 2018-11-06 Listed $825,000 Beaches MLS
• 2018-10-31 Listing Removed — Beaches MLS
• 2018-04-12 Listed $945,000 Beaches MLS
• 2015-08-07 Sold (MLS) $615,000 MARMLS
• 2015-07-06 Sold (Public Records) $615,000 Public Records
• 2015-05-01 Price Changed $677,000 MARMLS
• 2015-02-06 Price Changed $698,000 MARMLS
• 2015-01-07 Price Changed $729,000 MARMLS
• 2014-11-02 Listed $749,000 MARMLS
• 1995-06-21 Sold (Public Records) $183,000 Public Records
• 1990-03-13 Sold (Public Records) $135,000 Public Records
• 1984-01-01 Sold (Public Records) $100,000 Public Records
• 1978-10-01 Sold (Public Records) $69,000 Public Records
• 1977-10-01 Sold (Public Records) $64,100 Public Records

Property tax history

+9.1%/yr

Latest (2025): $17,826 · +9.4% YoY. Source: county tax records.