6801 Indian Creek Dr #304 · Miami Beach, FL 33141

$405,000

1 bd · 1.0 ba · 980 sqft · Condo public records · 58 Days on market

Built 1972 $692/mo HOA · 15% 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 +18.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.7/10.0
• 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

Boutique building with 60 units, located 2 blocks from the beach. Be a part of the NoBe Community. Walk to the beach, local restaurants, shops and supermarkets. Enjoy concerts at the North Beach Bandshell, play tennis at the North Shore Park Tennis Center, take as stroll on the North Shore Open Space Park or bike ride at the new boardwalk. This corner unit is bright and spacious. It has one big walk-in closet and many other closets as well. The kitchen is 3 years old. There is a rooftop pool where you can enjoy beautiful Miami Beach sunsets and fireworks during the holidays. There is a shared laundry facility. Parking is assigned, covered and secured. All building electrical conduits have been replaced, fire alarm system upgraded, new elevators, updated lobby and cameras throughout.

Key facts

• Rooftop pool
• Renovated kitchen
• Updated bathroom

Tags

• RENOVATED KITCHEN
• PREMIUM SOFT-CLOSE CABINETRY
• UPDATED BATHROOM
• ROOFTOP POOL
• OCEAN AND INTRACOASTAL VIEWS
• SECURED ASSIGNED PARKING

Property features AI

Finance

• Financial info: No pet restrictions; Pets allowed
• HOA & community: Monthly association fee of $692; Association includes amenities, water, sewer and trash; Association amenities: pool and elevators

Exterior

• Parking: One covered garage space; Additional on-street parking
• Security: Closed-circuit cameras; Complex fenced; Secured elevator; Fire alarm; Smoke detectors
• Utilities: Water included in association; Sewer included in association; Trash included in association
• Home design: Condominium with attached property; 10-story building; Entry on level 3
• Construction: Block construction; Effective year built
• Exterior features: No notable exterior features listed; Association pool

Interior

• Kitchen: Built-in oven; Dishwasher; Disposal; Icemaker; Microwave
• Bedrooms: Bedroom located on main level
• Flooring: Marble flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Bedroom on main level; First-floor entry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $405k.

Deal economics

• At list price, monthly cash flow is $-60 ($-719/yr) — negative.
• To cash-flow at today's rent, offer at most $394k (2.6% below list).
• Meets the 1% rule at list price ($5k rent vs $405k).
• Recommended offer: $393k (3.0% 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; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,666/mo this rent would consume 81% 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 $3k of loan paydown is wiped out by about $12k 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 58 days — a 3% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 10 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 $220k; list at $405k implies a 84% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $392,850 (3.0% 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 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — 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. 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: 1.15% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.88%
• DSCR: 1.17
• 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: -21.1%
• Equity multiple: 0.29×
• Total profit: $-80,511
• Equity at exit: $60,387

10-year hold

• IRR: -25.2%
• Equity multiple: -0.04×
• Total profit: $-118,057
• Equity at exit: $35,017

Cash invested: $113,400 (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: 7.2×

Monthly cashflow live

• Estimated rent: $4,666 medium
• Mortgage (P&I): −$2,124
• Tax from tax record: −$335 /mo · $4,018/yr
• Insurance: −$169
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$692
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $-60

Break-even live

Break-even rent $4,742

Max offer price $394,413

Occupancy floor 96%

Sensitivity live

Price	-10% $169	-5% $55	+0% $-60	+5% $-175	+10% $-289
Rent	-10% $-429	-5% $-244	+0% $-60	+5% $124	+10% $309
Rate	-1.0pp $144	-0.5pp $43	base $-60	+0.5pp $-165	+1.0pp $-272

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $692 · $8,304/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-22
   status $405,000 Pending 58 DOM
2. 2026-06-21
   days on market $405,000 Active 58 DOM
3. 2026-06-18
   days on market $405,000 Active 55 DOM
4. 2026-06-17
   days on market $405,000 Active 54 DOM
5. 2026-06-16
   days on market $405,000 Active 53 DOM
6. 2026-06-15
   days on market $405,000 Active 52 DOM
7. 2026-06-13
   days on market $405,000 Active 50 DOM
8. 2026-06-09
   days on market $405,000 Active 46 DOM
9. 2026-06-08
   days on market $405,000 Active 45 DOM
10. 2026-06-07
    days on market $405,000 Active 44 DOM
11. 2026-06-04
    days on market $405,000 Active 41 DOM
12. 2026-06-03
    days on market $405,000 Active 40 DOM
13. 2026-06-02
    days on market $405,000 Active 39 DOM
14. 2026-06-01
    days on market $405,000 Active 38 DOM
15. 2026-05-31
    days on market $405,000 Active 37 DOM
16. 2026-04-24
    listed $405,000 Active
17. 2026-03-24
    historical $3,500
18. 2026-03-12
    listed $3,500
19. 2026-03-12
    historical
20. 2026-03-11
    historical $3,500
21. 2026-01-25
    listed $3,500
22. 2025-08-29
    historical $3,500
23. 2025-08-25
    status Active
24. 2025-08-22
    status Active
25. 2025-08-22
    historical
26. 2025-08-22
    historical
27. 2025-08-21
    listed $412,000 Active
28. 2025-05-11
    listed $3,500
29. 2025-05-06
    historical $3,500
30. 2025-05-01
    listed $3,500
31. 2022-04-23
    soldstatus $220,000
32. 2022-04-19
    soldstatus $220,000 Closed 793-char remark

    Show marketing remark (793 chars)

    Boutique building with 60 units, located 2 blocks from the beach. Be a part of the NoBe Community. Walk to the beach, local restaurants, shops and supermarkets. Enjoy concerts at the North Beach Bandshell, play tennis at the North Shore Park Tennis Center, take as stroll on the North Shore Open Space Park or bike ride at the new boardwalk. This corner unit is bright and spacious. It has one big walk-in closet and many other closets as well. The kitchen is 3 years old. There is a rooftop pool where you can enjoy beautiful Miami Beach sunsets and fireworks during the holidays. There is a shared laundry facility. Parking is assigned, covered and secured. All building electrical conduits have been replaced, fire alarm system upgraded, new elevators, updated lobby and cameras throughout.

33. 2022-03-08
    historical Active Under Contract 793-char remark

    Show marketing remark (793 chars)

    Boutique building with 60 units, located 2 blocks from the beach. Be a part of the NoBe Community. Walk to the beach, local restaurants, shops and supermarkets. Enjoy concerts at the North Beach Bandshell, play tennis at the North Shore Park Tennis Center, take as stroll on the North Shore Open Space Park or bike ride at the new boardwalk. This corner unit is bright and spacious. It has one big walk-in closet and many other closets as well. The kitchen is 3 years old. There is a rooftop pool where you can enjoy beautiful Miami Beach sunsets and fireworks during the holidays. There is a shared laundry facility. Parking is assigned, covered and secured. All building electrical conduits have been replaced, fire alarm system upgraded, new elevators, updated lobby and cameras throughout.

34. 2022-03-01
    listed $220,000 Active 793-char remark

    Show marketing remark (793 chars)

    Boutique building with 60 units, located 2 blocks from the beach. Be a part of the NoBe Community. Walk to the beach, local restaurants, shops and supermarkets. Enjoy concerts at the North Beach Bandshell, play tennis at the North Shore Park Tennis Center, take as stroll on the North Shore Open Space Park or bike ride at the new boardwalk. This corner unit is bright and spacious. It has one big walk-in closet and many other closets as well. The kitchen is 3 years old. There is a rooftop pool where you can enjoy beautiful Miami Beach sunsets and fireworks during the holidays. There is a shared laundry facility. Parking is assigned, covered and secured. All building electrical conduits have been replaced, fire alarm system upgraded, new elevators, updated lobby and cameras throughout.

35. 2020-07-12
    historical
36. 2020-01-13
    listed $199,000 Active
37. 1984-02-01
    soldstatus $50,000
38. 1981-07-01
    soldstatus $68,500

ⓘ 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: $4,018 · $335/mo
• Projected year-2 tax: $4,018 · $335/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 · 28 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: $55,991
• − Mortgage interest: −$22,686
• − Property taxes: −$4,018
• − Insurance: −$7,144
• − Repairs & maintenance: −$4,479
• − Management: −$4,479
• − HOA: −$8,304
• − Depreciation: −$11,782
• Taxable loss: −$6,901
• Est. tax savings @ 24.0%: +$1,656
• After-tax cash flow: $937/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
• 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

+491.2% since first listed

23 events — show timeline

• 2026-04-24 Listed $405,000 MARMLS
• 2026-03-24 Rental Removed $3,500 RENTSPREE
• 2026-03-12 Listed for Rent $3,500 RENTSPREE
• 2026-03-12 Listing Removed — MARMLS
• 2026-03-11 Rental Removed $3,500 MARMLS
• 2026-01-25 Listed for Rent $3,500 MARMLS
• 2025-08-29 Rental Removed $3,500 RENTSPREE
• 2025-08-25 Relisted — MARMLS
• 2025-08-22 Relisted — MARMLS
• 2025-08-22 Listing Removed — MARMLS
• 2025-08-22 Listing Removed — MARMLS
• 2025-08-21 Listed $412,000 MARMLS
• 2025-05-11 Listed for Rent $3,500 RENTSPREE
• 2025-05-06 Rental Removed $3,500 MARMLS
• 2025-05-01 Listed for Rent $3,500 MARMLS
• 2022-04-23 Sold (Public Records) $220,000 Public Records
• 2022-04-19 Sold (MLS) $220,000 MARMLS
• 2022-03-08 Contingent — MARMLS
• 2022-03-01 Listed $220,000 MARMLS
• 2020-07-12 Listing Removed — MARMLS
• 2020-01-13 Listed $199,000 MARMLS
• 1984-02-01 Sold (Public Records) $50,000 Public Records
• 1981-07-01 Sold (Public Records) $68,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $4,018 · +1.7% YoY. Source: county tax records.