5005 Collins Ave #304 · Miami Beach, FL 33140

$330,000

1 bd · 1.0 ba · 942 sqft · Condo public records · 102 Days on market

Built 1964 $1467/mo HOA · 31% 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 +11.8/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

SPECTACULAR WATER VIEWS + IMMEDIATE INCOME PRODUCING OPPORTUNITY! Bright and spacious residence with stunning intracoastal views from every room. This well-maintained unit features a generous living area and a large primary bedroom with a walk-in closet, plus an updated kitchen and bathroom. Filled with natural light, the apartment offers a comfortable layout ideal for relaxed coastal living. Excellent investment opportunity: the unit is currently rented through August 2026 generating $2,800/month, providing immediate and stable income for the next owner. Located in a fully renovated oceanfront building on prestigious Millionaire’s Row, residents enjoy direct beach access, an Olymp

Key facts

• Water views
• Olympic-size pool
• Intracoastal views

Tags

• WATER VIEWS
• INTRACOASTAL VIEWS
• UPDATED KITCHEN
• UPDATED BATHROOM
• DIRECT BEACH ACCESS
• OLYMPIC-SIZE POOL

Property features AI

Finance

• Other: Annual tax amount available
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, cable TV, hot water and internet; Association amenities include bike storage, clubhouse, elevators, fitness center, laundry, library, barbecue/picnic area and pool

Exterior

• Parking: Covered parking; 1 covered garage space
• Security: Doorman
• Utilities: Electric service; Has cooling and heating
• Home design: Condominium in a 15-story building; Entry located on 3rd level
• Construction: Block construction; Effective year built
• Exterior features: Exterior lighting; Association pool (heated); Waterfront: bay front and canal front with Intracoastal access

Interior

• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Bedroom on main level; Handicap access; Elevator; Ceramic tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $330k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (8.5% below list).
• Meets the 1% rule at list price ($5k rent vs $330k).
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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: North Beach Elementary School (math 75% / reading 79%, grade A, #170 of 2,144 statewide, top 9%, 937 students, 24% 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 36% FRL vs 64% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 672 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.0% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $60k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $280k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 31% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,300 (9.0% 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.41% ✓
• Cap rate: 5.95%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.96% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,071
• Equity at exit: $112,055

10-year hold

• IRR: 5.4%
• Equity multiple: 1.67×
• Total profit: $61,634
• Equity at exit: $148,446

Cash invested: $92,400 (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 33140

• Home prices YoY: 0.3%
• Rents YoY: 3.5%
• Active inventory: 672
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,669 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$446 /mo · $5,356/yr
• Insurance: −$138
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,467
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $-160

Break-even live

Break-even rent $4,871

Max offer price $301,806

Occupancy floor 98%

Sensitivity live

Price	-10% $27	-5% $-66	+0% $-160	+5% $-253	+10% $-346
Rent	-10% $-528	-5% $-344	+0% $-160	+5% $25	+10% $209
Rate	-1.0pp $7	-0.5pp $-76	base $-160	+0.5pp $-245	+1.0pp $-332

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,467 · $17,604/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-21
   days on market $330,000 Active 102 DOM
2. 2026-06-18
   days on market $330,000 Active 99 DOM
3. 2026-06-17
   days on market $330,000 Active 98 DOM
4. 2026-06-16
   days on market $330,000 Active 97 DOM
5. 2026-06-15
   days on market $330,000 Active 96 DOM
6. 2026-06-13
   days on market $330,000 Active 94 DOM
7. 2026-06-09
   days on market $330,000 Active 90 DOM
8. 2026-06-08
   days on market $330,000 Active 89 DOM
9. 2026-06-07
   days on market $330,000 Active 88 DOM
10. 2026-06-04
    days on market $330,000 Active 85 DOM
11. 2026-06-03
    days on market $330,000 Active 84 DOM
12. 2026-06-02
    days on market $330,000 Active 83 DOM
13. 2026-06-01
    days on market $330,000 Active 82 DOM
14. 2026-05-31
    days on market $330,000 Active 81 DOM
15. 2026-04-20
    price $330,000
16. 2026-03-23
    price $350,000
17. 2026-03-11
    listed $390,000 Active
18. 2025-10-13
    historical
19. 2025-09-13
    status Active
20. 2025-09-09
    historical
21. 2025-01-13
    listed $373,000 Active
22. 2024-07-29
    historical
23. 2024-01-17
    listed $410,000 Active
24. 2024-01-14
    historical
25. 2023-07-12
    price $410,000
26. 2022-10-04
    listed $415,000 Active
27. 2022-09-28
    historical
28. 2022-02-07
    price $385,000
29. 2021-08-04
    price $382,000
30. 2021-01-13
    price $385,000
31. 2020-12-09
    status Active
32. 2020-11-30
    historical
33. 2019-10-26
    status Active
34. 2019-10-22
    historical
35. 2017-04-04
    price $390,000
36. 2017-03-15
    price $392,000
37. 2017-02-06
    price $393,000
38. 2016-07-20
    price $395,000
39. 2016-06-08
    price $399,000
40. 2016-05-24
    listed $410,000 Active
41. 2016-03-21
    soldstatus $280,000
42. 2016-03-17
    soldstatus $280,000 Sold
43. 2016-02-28
    status Pending
44. 2016-01-16
    price $315,000
45. 2016-01-11
    listed $360,000 Active
46. 1990-06-05
    soldstatus $83,500

ⓘ 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: $5,356 · $446/mo
• Projected year-2 tax: $5,356 · $446/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 10/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°F today · 24 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,024
• − Mortgage interest: −$18,485
• − Property taxes: −$5,356
• − Insurance: −$2,448
• − Repairs & maintenance: −$4,482
• − Management: −$4,482
• − HOA: −$17,604
• − Depreciation: −$9,600
• Taxable loss: −$6,432
• Est. tax savings @ 24.0%: +$1,544
• After-tax cash flow: $-371/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): 20,342
• Household income: $107,063
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 870.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 46% Hispanic / Latino 44% Two or more races 23% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 19% Salvadoran 6%
• Common ancestry: Scotch-Irish 5% Romanian 3% Italian 3%
• Foreign-born: 44% · Canada, Dominican Republic, Jamaica
• Languages at home: 43% English-only · Spanish 45% Other Indo-European 6% French/Haitian/Cajun 2%

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: ▲ 0.96%
• Current HPI: 302.8514
• Rent YoY: ▲ 3.52%
• 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

+295.2% since first listed

32 events — show timeline

• 2026-04-20 Price Changed $330,000 MARMLS
• 2026-03-23 Price Changed $350,000 MARMLS
• 2026-03-11 Listed $390,000 MARMLS
• 2025-10-13 Listing Removed — MARMLS
• 2025-09-13 Relisted — MARMLS
• 2025-09-09 Listing Removed — MARMLS
• 2025-01-13 Listed $373,000 MARMLS
• 2024-07-29 Listing Removed — MARMLS
• 2024-01-17 Listed $410,000 MARMLS
• 2024-01-14 Listing Removed — MARMLS
• 2023-07-12 Price Changed $410,000 MARMLS
• 2022-10-04 Listed $415,000 MARMLS
• 2022-09-28 Listing Removed — MARMLS
• 2022-02-07 Price Changed $385,000 MARMLS
• 2021-08-04 Price Changed $382,000 MARMLS
• 2021-01-13 Price Changed $385,000 MARMLS
• 2020-12-09 Relisted — MARMLS
• 2020-11-30 Listing Removed — MARMLS
• 2019-10-26 Relisted — MARMLS
• 2019-10-22 Listing Removed — MARMLS
• 2017-04-04 Price Changed $390,000 MARMLS
• 2017-03-15 Price Changed $392,000 MARMLS
• 2017-02-06 Price Changed $393,000 MARMLS
• 2016-07-20 Price Changed $395,000 MARMLS
• 2016-06-08 Price Changed $399,000 MARMLS
• 2016-05-24 Listed $410,000 MARMLS
• 2016-03-21 Sold (Public Records) $280,000 Public Records
• 2016-03-17 Sold (MLS) $280,000 MARMLS
• 2016-02-28 Pending — MARMLS
• 2016-01-16 Price Changed $315,000 MARMLS
• 2016-01-11 Listed $360,000 MARMLS
• 1990-06-05 Sold (Public Records) $83,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $5,356 · +3.9% YoY. Source: county tax records.