2924 Collins Ave #301 · Miami Beach, FL 33140

$439,900

2 bd · 2.0 ba · 982 sqft · Condo public records · 21 Days on market

Built 1980 $703/mo HOA · 16% of rent

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Why this score? — see what drove the D+ 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 +10.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• 1% rule +5.1/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

OCEAN VIEW PLAZA - 3rd FLOOR CORNER UNIT WITH TWO BALCONIES / EAST and NORTH EXPOSURES * * * GREAT and SPACIOUS CORNER UNIT LOCATED DIRECTLY ACROSS FROM THE OCEAN and THE NEW PEDESTRIAN WALK-WAY. 2 BED / 2 BATHROOM UNIT SPLIT FLOOR PLAN WHICH IS EXTREMELY SPACIOUS AND THE UNIT ALSO HAS TWO LARGE BALCONIES. * * BUILDING HAS LAUNDRY ROOM LOBBY FLOOR, SECURED ENTRY AND GATED COVERED PARKING. WALKING DISTANCE TO TONS OF EATERIES, STORES, PUBLIC TRANSPORTATION AND WALKING DISTANCE TO LINCOLN ROAD and SOUTH BEACH. NEXT DOOR TO STARBUCKS COFFEE! ACROSS FROM THE BUILDING YOU HAVE THE NEW PEDESTRIAN WALK-WAY and BEACH!! - ONE PARKING SPACE ASSIGNED. * * ACROSS STREET YOU HAVE RESTAURANT

Key facts

• 3rd floor
• Balcony
• Corner unit

Tags

• 3RD FLOOR
• CORNER UNIT
• BALCONY

Property features AI

Finance

• Other: Building contains 26 units
• Financial info: Pets are allowed
• HOA & community: Monthly association fee of $703; Association amenities include laundry, trash service, and elevators; Association fee covers management, insurance, laundry, grounds maintenance, pest control, roof, sewer, trash, and water

Exterior

• Parking: Assigned covered parking; Secured garage/parking; On-street parking available; Total of 24 covered garage spaces in the building
• Security: Closed-circuit cameras; Fire alarm; Intercom; Lobby secured; Phone entry
• Utilities: Public water; Public sewer; Electric service
• Home design: Corner unit; Located on entry level 3; Faces east; Single-story unit within a 5-story building
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Storm/security shutters; Open balcony/porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Combined living/dining room; Pantry; Sitting area in primary
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $440k.

Deal economics

• At list price, monthly cash flow is $-681 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (27.4% below list).
• Meets the 1% rule at list price ($4k rent vs $440k).
• Recommended offer: $320k (27.4% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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 rising (+3.5%/yr); 673 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,441/mo this rent would consume 50% of the median local household income ($107k/yr) (locally 870% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($3k loan paydown + $4k 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 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($433k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $440k implies a 340% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $319,544 (27.4% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.01% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 8.3

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: -5.3%
• Equity multiple: 0.73×
• Total profit: $-32,812
• Equity at exit: $149,372

10-year hold

• IRR: 0.7%
• Equity multiple: 1.08×
• Total profit: $10,060
• Equity at exit: $197,884

Cash invested: $123,172 (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: 673
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,441 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$570 /mo · $6,838/yr
• Insurance: −$183
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$703
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $-681

Break-even live

Break-even rent $5,303

Max offer price $319,544

Occupancy floor —

Sensitivity live

Price	-10% $-432	-5% $-557	+0% $-681	+5% $-806	+10% $-930
Rent	-10% $-1,032	-5% $-857	+0% $-681	+5% $-506	+10% $-330
Rate	-1.0pp $-460	-0.5pp $-569	base $-681	+0.5pp $-795	+1.0pp $-911

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: $109,975
• Closing costs: $13,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 24th St Miami Beach, FL	1.0–3.0	1.0–3.0	1479	$37,000	$25.02	20d	9	0.44mi
102 24th St Miami Beach, FL	1.0–3.0	1.0–3.0	1479	$37,000	$25.02	11d	9	0.44mi
2201 Collins Ave Miami Beach, FL	1.0–3.0	1.0–2.0	1121	$22,500	$20.06	25d	2	0.58mi
1602 Meridian Ave Miami Beach, FL	4.0	1.0–3.0	917	$11,900	$12.97	16d	1	1.37mi

HOA detail condo

• Monthly dues: $703 · $8,436/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $439,900 Active 21 DOM
2. 2026-06-18
   days on market $439,900 Active 18 DOM
3. 2026-06-17
   days on market $439,900 Active 17 DOM
4. 2026-06-16
   days on market $439,900 Active 16 DOM
5. 2026-06-15
   days on market $439,900 Active 15 DOM
6. 2026-06-13
   days on market $439,900 Active 13 DOM
7. 2026-06-09
   days on market $439,900 Active 9 DOM
8. 2026-06-08
   days on market $439,900 Active 8 DOM
9. 2026-06-07
   days on market $439,900 Active 7 DOM
10. 2026-06-04
    days on market $439,900 Active 4 DOM
11. 2026-06-03
    days on market $439,900 Active 3 DOM
12. 2026-06-02
    days on market $439,900 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-05-28
    listed $439,900 Active
15. 1994-06-20
    soldstatus $100,000
16. 1980-06-01
    soldstatus $90,000

ⓘ 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: $6,838 · $570/mo
• Projected year-2 tax: $6,838 · $570/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 7 d/yr ≥101°F today · 27 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: $53,290
• − Mortgage interest: −$24,641
• − Property taxes: −$6,838
• − Insurance: −$7,318
• − Repairs & maintenance: −$4,263
• − Management: −$4,263
• − HOA: −$8,436
• − Depreciation: −$12,797
• Taxable loss: −$15,267
• Est. tax savings @ 24.0%: +$3,664
• After-tax cash flow: $-4,512/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

+388.8% since first listed

3 events — show timeline

• 2026-05-28 Listed $439,900 MARMLS
• 1994-06-20 Sold (Public Records) $100,000 Public Records
• 1980-06-01 Sold (Public Records) $90,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $6,838 · +4.3% YoY. Source: county tax records.