835 83rd St · Miami Beach, FL 33141

$1,580,000

6 bd · 6.0 ba · 3,652 sqft · MultiFamily public records · 43 Days on market

Built 1951

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rich Homes of Florida is pleased to present 835 83rd Street, a legal 6-unit apartment building ideally located in one of Miami Beach’s most desirable neighborhoods. Just a short walk to the beach and the expansive 36-acre North Shore Open Space Park, this property offers an unbeatable combination of lifestyle and long-term value. The building features spacious 1-bedroom / 1-bath units, each with generous closet space. Washer and dryer on site. Every unit is equipped with NEW electrical systems, individual hot water heaters, and wall A/C units. The 40-Year Recertification was completed in 2026, providing peace of mind and reduced future capital exposure. An exceptional Value-Add Opport

Key facts

• Built 1951
• Listed 43 days

Tags

• 6 UNIT APARTMENT BUILDING
• SHORT WALK TO THE BEACH
• GENEROUS CLOSET SPACE
• WASHER AND DRYER ON SITE
• NEW ELECTRICAL SYSTEMS
• INDIVIDUAL HOT WATER HEATERS

Property features AI

Finance

• Financial info: Rent includes water and sewer; Unit rents (examples): $1,600; $1,550; $1,650; $1,700 (varies by unit)

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available
• Home design: Single-story building
• Construction: Block construction
• Exterior features: On-street parking; Lot smaller than a quarter acre

Interior

• Bedrooms: Six one-bedroom units total (individual units described below)
• Flooring: Terrazzo
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Wall/window air conditioning units
• Interior features: Terrazzo flooring

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $1.58M.

Deal economics

• At list price, monthly cash flow is $5k ($57k/yr) — positive. Per door: $787/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.58M).
• Recommended offer: $1.53M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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.
• Market conditions: Rents flat; 644 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $19,794/mo this rent would consume 346% 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 $11k of loan paydown is wiped out by about $47k 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 43 days — a 3% lower offer ($1.53M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $765k; list at $1.58M implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1951 — 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,532,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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 1951 — 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. 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: 1.25% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 6.7

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-4,745
• Equity at exit: $235,583

10-year hold

• IRR: 6.5%
• Equity multiple: 1.43×
• Total profit: $190,469
• Equity at exit: $136,610

Cash invested: $442,400 (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: 644
• Price-to-rent: 39.9×

Monthly cashflow live

• Estimated rent: $19,794 medium
• Mortgage (P&I): −$8,286
• Tax from tax record: −$1,545 /mo · $18,545/yr
• Insurance: −$658
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,157
• Net cashflow: $4,721

Break-even live

Break-even rent $13,818

Max offer price $1,580,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$19,794
Total (6 units)			$19,794

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: $395,000
• Closing costs: $47,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1055 Stillwater Dr Miami Beach, FL	6.0	5.5	4787	$29,000	$6.06	20d	1	0.21mi
1131 Stillwater Dr Unit SFH Miami Beach, FL	5.0	3.5	3980	$19,000	$4.77	24d	1	0.26mi
1151 Stillwater Dr Miami Beach, FL	5.0	3.0	3237	$18,000	$5.56	16d	1	0.27mi
1249 Biscaya Dr Surfside, FL	5.0	4.5	4486	$26,900	$6.00	24d	1	0.38mi
7811 Carlyle Ave Miami Beach, FL	6.0	5.5	3405	$50,000	$14.68	24d	1	0.39mi
1625 Daytonia Rd Miami Beach, FL	5.0	3.0	2690	$18,000	$6.69	24d	1	0.62mi
7972 Biscayne Point Cir Miami Beach, FL	5.0	5.0	3989	$60,000	$15.04	24d	1	0.94mi
9380 Bay Dr Surfside, FL	5.0	5.0	4737	$35,000	$7.39	24d	1	1.03mi

Listing history 25 events

1. 2026-06-18
   days on market $1,580,000 Active 43 DOM
2. 2026-06-17
   days on market $1,580,000 Active 42 DOM
3. 2026-06-16
   days on market $1,580,000 Active 41 DOM
4. 2026-06-15
   days on market $1,580,000 Active 40 DOM
5. 2026-06-13
   days on market $1,580,000 Active 38 DOM
6. 2026-06-09
   days on market $1,580,000 Active 34 DOM
7. 2026-06-08
   days on market $1,580,000 Active 33 DOM
8. 2026-06-07
   days on market $1,580,000 Active 32 DOM
9. 2026-06-04
   days on market $1,580,000 Active 29 DOM
10. 2026-06-03
    days on market $1,580,000 Active 28 DOM
11. 2026-06-02
    days on market $1,580,000 Active 27 DOM
12. 2026-06-01
    days on market $1,580,000 Active 26 DOM
13. 2026-05-31
    days on market $1,580,000 Active 25 DOM
14. 2026-05-06
    listed $1,580,000 Active
15. 2023-06-13
    historical
16. 2019-10-30
    soldstatus $765,000
17. 2019-02-26
    historical
18. 2018-09-14
    price $850,000
19. 2018-05-03
    listed $945,000 Active
20. 2006-09-26
    soldstatus $765,000
21. 2004-05-06
    soldstatus $395,000
22. 1987-03-01
    soldstatus $135,000
23. 1986-05-01
    soldstatus $90,000
24. 1985-10-01
    soldstatus $91,000
25. 1981-02-01
    soldstatus $140,000

ⓘ 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: $18,545 · $1,545/mo
• Projected year-2 tax: $18,545 · $1,545/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 ≥103°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: $237,528
• − Mortgage interest: −$88,505
• − Property taxes: −$18,545
• − Insurance: −$13,018
• − Repairs & maintenance: −$19,002
• − Management: −$19,002
• − Depreciation: −$45,964
• Taxable income: $33,492
• Est. tax owed @ 24.0%: −$8,038
• After-tax cash flow: $48,617/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

+1028.6% since first listed

12 events — show timeline

• 2026-05-06 Listed $1,580,000 MARMLS
• 2023-06-13 Rental Removed — RENT.
• 2019-10-30 Sold (Public Records) $765,000 Public Records
• 2019-02-26 Listing Removed — MARMLS
• 2018-09-14 Price Changed $850,000 MARMLS
• 2018-05-03 Listed $945,000 MARMLS
• 2006-09-26 Sold (Public Records) $765,000 Public Records
• 2004-05-06 Sold (Public Records) $395,000 Public Records
• 1987-03-01 Sold (Public Records) $135,000 Public Records
• 1986-05-01 Sold (Public Records) $90,000 Public Records
• 1985-10-01 Sold (Public Records) $91,000 Public Records
• 1981-02-01 Sold (Public Records) $140,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $18,545 · +7.4% YoY. Source: county tax records.