810 7th St #207 · Miami Beach, FL 33139

$199,999

1 bd · 1.0 ba · 450 sqft · Condo public records · 524 Days on market

Built 1940 $565/mo HOA · 17% of rent

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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 +27.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Appreciation +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Cozy corner unit in the heart of Miami Beach. 1-bedroom, 1-bathroom, offering 440 sqft of stylish living space. The unit features laminate flooring throughout and a modern kitchen equipped with stainless steel appliances. A washer/dryer hookup adds extra convenience. Low monthly maintenance with no assessments covers common areas, water/sewer services, and roof upkeep. First Deco it's an art-deco-inspired, two-story boutique building remodeled in 2020. Ideally situated just steps from the beach, shopping, dining, and vibrant nightlife, this home offers the perfect opportunity to enjoy the Miami Beach lifestyle at a fraction of the cost. Tenant in place until 11/30/26. 24-hour notice require

Key facts

• Washer dryer hook up
• Art deco inspired
• Corner unit

Tags

• CORNER UNIT
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• WASHER DRYER HOOK UP
• ART DECO INSPIRED
• TWO STORY BOUTIQUE BUILDING

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee ($565) covering common areas, roof, sewer, trash and water; Community contains 28 units

Exterior

• Parking: On-street parking
• Utilities: Has heating and cooling
• Home design: Attached property; Entry located on second floor; Resale property
• Construction: Block construction; 1 story (unit); 2 total stories in building
• Exterior features: Storm/security shutters; Complex is fenced

Interior

• Kitchen: Built-in oven; Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Furnished; Second-floor entry; Living/dining room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 soft (-0.4%/yr); 1208 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,284/mo this rent would consume 56% of the median local household income ($70k/yr) (locally 4052% 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 (-2.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 524 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask is 10156% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — 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 8→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 524 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.64% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.85%
• DSCR: 1.57
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.19% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-23,451
• Equity at exit: $37,137

10-year hold

• IRR: -10.5%
• Equity multiple: 0.38×
• Total profit: $-34,561
• Equity at exit: $30,125

Cash invested: $56,000 (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 33139

• Home prices YoY: -0.8%
• Rents YoY: -0.4%
• Active inventory: 1208
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,284 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$298 /mo · $3,574/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$565
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $173

Break-even live

Break-even rent $3,065

Max offer price $199,999

Occupancy floor 90%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: watersewer
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $199,999 Active 524 DOM
2. 2026-06-17
   days on market $199,999 Active 523 DOM
3. 2026-06-16
   days on market $199,999 Active 522 DOM
4. 2026-06-15
   days on market $199,999 Active 521 DOM
5. 2026-06-13
   days on market $199,999 Active 519 DOM
6. 2026-06-09
   days on market $199,999 Active 515 DOM
7. 2026-06-08
   days on market $199,999 Active 514 DOM
8. 2026-06-08
   days on market $199,999 Active 513 DOM
9. 2026-06-04
   days on market $199,999 Active 510 DOM
10. 2026-06-03
    days on market $199,999 Active 509 DOM
11. 2026-06-02
    days on market $199,999 Active 508 DOM
12. 2026-06-01
    days on market $199,999 Active 507 DOM
13. 2026-05-31
    days on market $199,999 Active 506 DOM
14. 2026-05-24
    price $199,999
15. 2026-04-14
    historical $1,950
16. 2026-03-21
    listed $1,950
17. 2026-03-04
    price $215,000
18. 2025-07-15
    price $238,000
19. 2025-04-07
    price $240,000
20. 2025-01-10
    listed $245,000 Active
21. 2024-12-24
    historical
22. 2024-12-09
    price $245,000
23. 2024-09-06
    price $254,999
24. 2024-06-28
    listed $260,000 Active
25. 2023-12-19
    historical
26. 2023-10-04
    listed $250,000 Active
27. 2023-10-01
    historical
28. 2023-09-01
    status Active
29. 2023-08-31
    historical
30. 2023-07-28
    price $255,000
31. 2023-06-25
    listed $269,000 Active
32. 2020-11-20
    soldstatus $195,000
33. 2020-11-10
    soldstatus $195,000 Closed
34. 2020-09-24
    historical Active Under Contract
35. 2020-06-10
    listed $220,000 Active
36. 2020-03-20
    soldstatus $28,333

ⓘ 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: $3,574 · $298/mo
• Projected year-2 tax: $3,574 · $298/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥101°F today · 32 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: $39,410
• − Mortgage interest: −$11,203
• − Property taxes: −$3,574
• − Insurance: −$6,118
• − Repairs & maintenance: −$3,153
• − Management: −$3,153
• − HOA: −$6,780
• − Depreciation: −$5,818
• Taxable loss: −$389
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $2,169/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): 33,753
• Household income: $69,793
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 4052.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 51% White 40% Two or more races 17% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 15% Salvadoran 3%
• Common ancestry: Lithuanian 3% Scotch-Irish 2% Romanian 2%
• Foreign-born: 56% · Canada, Jamaica, Dominican Republic
• Languages at home: 37% English-only · Spanish 49% Other Indo-European 5% 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: ▼ -2.19%
• Current HPI: 277.9321
• Rent YoY: ▼ -0.36%
• 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

+605.9% since first listed

23 events — show timeline

• 2026-05-24 Price Changed $199,999 MARMLS
• 2026-04-14 Rental Removed $1,950 MARMLS
• 2026-03-21 Listed for Rent $1,950 MARMLS
• 2026-03-04 Price Changed $215,000 MARMLS
• 2025-07-15 Price Changed $238,000 MARMLS
• 2025-04-07 Price Changed $240,000 MARMLS
• 2025-01-10 Listed $245,000 MARMLS
• 2024-12-24 Listing Removed — MARMLS
• 2024-12-09 Price Changed $245,000 MARMLS
• 2024-09-06 Price Changed $254,999 MARMLS
• 2024-06-28 Listed $260,000 MARMLS
• 2023-12-19 Listing Removed — MARMLS
• 2023-10-04 Listed $250,000 MARMLS
• 2023-10-01 Listing Removed — MARMLS
• 2023-09-01 Relisted — MARMLS
• 2023-08-31 Listing Removed — MARMLS
• 2023-07-28 Price Changed $255,000 MARMLS
• 2023-06-25 Listed $269,000 MARMLS
• 2020-11-20 Sold (Public Records) $195,000 Public Records
• 2020-11-10 Sold (MLS) $195,000 MARMLS
• 2020-09-24 Contingent — MARMLS
• 2020-06-10 Listed $220,000 MARMLS
• 2020-03-20 Sold (Public Records) $28,333 Public Records

Property tax history

+0.7%/yr

Latest (2025): $3,574 · -0.2% YoY. Source: county tax records.