1201 Marseille Dr #17 · Miami Beach, FL 33141

$229,900

1 bd · 1.0 ba · 589 sqft · Condo public records · 552 Days on market

Built 1946 $460/mo HOA · 14% 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 +26.3/30.0
• 1% rule +9.2/10.0
• DSCR +8.9/10.0
• 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

Listing remarks MLS

Walking distance to the beach, with a nice canal/bay view. Lots of closet storage space. Priced to sell, put your finishing touches. Seller Motivated!

Key facts

• Quartz countertops
• Porcelain floors
• Corner unit

Tags

• CORNER UNIT
• INTERCOSTAL VIEWS
• PORCELAIN FLOORS
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• RAIN SHOWER

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee of $460; Association covers common areas, insurance, structural maintenance, and water; Community amenities include barbecue and picnic area

Exterior

• Parking: On-street parking
• Security: Complex fenced
• Utilities: Water service included in association fee
• Home design: Block construction; 1 story entry (property has 2 total stories); West-facing; Attached property
• Construction: Block construction; Resale property; Builder model: 1/1 corner
• Exterior features: Deck; Storm/security shutters; Complex is fenced; Intracoastal access (waterfront)

Interior

• Kitchen: Electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Blinds; Breakfast bar; Living/dining room; First floor entry; Main living area on entry level; Tub with shower

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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.
• Market conditions: Rents flat; 644 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,269/mo this rent would consume 57% 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 $2k of loan paydown is wiped out by about $7k 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 552 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $50k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $91k; list at $230k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1946 — 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 $202,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 552 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 1946 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.42% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 5.9

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: -15.5%
• Equity multiple: 0.47×
• Total profit: $-34,248
• Equity at exit: $34,279

10-year hold

• IRR: -15.0%
• Equity multiple: 0.29×
• Total profit: $-45,840
• Equity at exit: $19,878

Cash invested: $64,372 (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: 5.9×

Monthly cashflow live

• Estimated rent: $3,269 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$227 /mo · $2,723/yr
• Insurance: −$96
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$460
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $167

Break-even live

Break-even rent $3,057

Max offer price $229,900

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-18
   days on market $229,900 Active 552 DOM
2. 2026-06-17
   days on market $229,900 Active 551 DOM
3. 2026-06-16
   days on market $229,900 Active 550 DOM
4. 2026-06-15
   days on market $229,900 Active 549 DOM
5. 2026-06-13
   days on market $229,900 Active 547 DOM
6. 2026-06-09
   days on market $229,900 Active 543 DOM
7. 2026-06-08
   days on market $229,900 Active 542 DOM
8. 2026-06-08
   days on market $229,900 Active 541 DOM
9. 2026-06-04
   days on market $229,900 Active 538 DOM
10. 2026-06-03
    days on market $229,900 Active 537 DOM
11. 2026-06-02
    days on market $229,900 Active 536 DOM
12. 2026-06-01
    days on market $229,900 Active 535 DOM
13. 2026-05-31
    days on market $229,900 Active 534 DOM
14. 2026-05-19
    price $229,900
15. 2026-04-22
    price $219,900
16. 2026-03-09
    status Active
17. 2026-03-04
    historical Active Under Contract
18. 2026-01-26
    price $209,900
19. 2026-01-15
    price $219,900
20. 2025-11-21
    price $225,000
21. 2025-09-15
    price $229,900
22. 2025-08-12
    price $239,900
23. 2025-07-10
    price $245,000
24. 2025-05-08
    status Active
25. 2025-03-31
    status Pending
26. 2025-01-23
    price $249,900
27. 2025-01-14
    price $259,900
28. 2024-12-04
    price $264,900
29. 2024-11-12
    price $269,900
30. 2024-11-05
    listed $279,900 Active
31. 2022-09-29
    status Pending
32. 2022-09-29
    historical
33. 2022-08-11
    status Active
34. 2022-05-06
    status Pending
35. 2022-04-15
    price $259,900
36. 2022-03-19
    status Active
37. 2022-03-15
    historical Active Under Contract
38. 2022-03-03
    listed $269,900 Active
39. 2021-02-12
    soldstatus $91,000 Closed 150-char remark

    Show marketing remark (150 chars)

    Walking distance to the beach, with a nice canal/bay view. Lots of closet storage space. Priced to sell, put your finishing touches. Seller Motivated!

40. 2021-01-04
    historical Active Under Contract 150-char remark

    Show marketing remark (150 chars)

    Walking distance to the beach, with a nice canal/bay view. Lots of closet storage space. Priced to sell, put your finishing touches. Seller Motivated!

41. 2020-12-21
    price $134,900 150-char remark

    Show marketing remark (150 chars)

    Walking distance to the beach, with a nice canal/bay view. Lots of closet storage space. Priced to sell, put your finishing touches. Seller Motivated!

42. 2020-11-09
    listed $155,000 Active 150-char remark

    Show marketing remark (150 chars)

    Walking distance to the beach, with a nice canal/bay view. Lots of closet storage space. Priced to sell, put your finishing touches. Seller Motivated!

43. 2001-02-27
    soldstatus $50,000
44. 1992-04-30
    soldstatus $30,000
45. 1989-01-26
    soldstatus $15,500

ⓘ 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: $2,723 · $227/mo
• Projected year-2 tax: $2,723 · $227/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 · 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: $39,223
• − Mortgage interest: −$12,878
• − Property taxes: −$2,723
• − Insurance: −$6,268
• − Repairs & maintenance: −$3,138
• − Management: −$3,138
• − HOA: −$5,520
• − Depreciation: −$6,688
• Taxable loss: −$1,129
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $2,279/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

+1383.2% since first listed

32 events — show timeline

• 2026-05-19 Price Changed $229,900 MARMLS
• 2026-04-22 Price Changed $219,900 MARMLS
• 2026-03-09 Relisted — MARMLS
• 2026-03-04 Contingent — MARMLS
• 2026-01-26 Price Changed $209,900 MARMLS
• 2026-01-15 Price Changed $219,900 MARMLS
• 2025-11-21 Price Changed $225,000 MARMLS
• 2025-09-15 Price Changed $229,900 MARMLS
• 2025-08-12 Price Changed $239,900 MARMLS
• 2025-07-10 Price Changed $245,000 MARMLS
• 2025-05-08 Relisted — MARMLS
• 2025-03-31 Pending — MARMLS
• 2025-01-23 Price Changed $249,900 MARMLS
• 2025-01-14 Price Changed $259,900 MARMLS
• 2024-12-04 Price Changed $264,900 MARMLS
• 2024-11-12 Price Changed $269,900 MARMLS
• 2024-11-05 Listed $279,900 MARMLS
• 2022-09-29 Pending — MARMLS
• 2022-09-29 Listing Removed — MARMLS
• 2022-08-11 Relisted — MARMLS
• 2022-05-06 Pending — MARMLS
• 2022-04-15 Price Changed $259,900 MARMLS
• 2022-03-19 Relisted — MARMLS
• 2022-03-15 Contingent — MARMLS
• 2022-03-03 Listed $269,900 MARMLS
• 2021-02-12 Sold (MLS) $91,000 MARMLS
• 2021-01-04 Contingent — MARMLS
• 2020-12-21 Price Changed $134,900 MARMLS
• 2020-11-09 Listed $155,000 MARMLS
• 2001-02-27 Sold (Public Records) $50,000 Public Records
• 1992-04-30 Sold (Public Records) $30,000 Public Records
• 1989-01-26 Sold (Public Records) $15,500 Public Records

Property tax history

+17.1%/yr

Latest (2025): $2,723 · -16.1% YoY. Source: county tax records.