19380 Collins Ave · Sunny Isles Beach, FL 33160

$438,000

2 bd · 2.0 ba · 1,505 sqft · Condo · 28 Days on market

Built 1972

---

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 +8.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks MLS

ABSOLUTELY PERFECT CONDITION 1ST FLOOR APT IN OCEANVIEW BUILDING. GREAT OPRTUNITY TO LIVE WALKING DISTANCE TO ONE OF THE BEST BEACHES IN FLORIDA AT AN AFFORDABLE PRICE. BUILDING IS PERFECTLY MAINTAINED AND SUPER QUIET, MAKING IT THE PERFECT PLACE TO LIVE. CALL/ TEXT LISTING AGENT TO SCHEDULE AN APPOINTMENT. TENANT OCCUPIED BUT VERY ACCOMMODATING.

Key facts

• Balcony doors
• Porcelain floors
• Valet

Tags

• NEW STAINLESS STEEL APPLIANCES
• PORCELAIN FLOORS
• HURRICANE IMPACT WINDOWS
• BALCONY DOORS
• 24 7 SECURITY
• VALET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $438k.

Deal economics

• At list price, monthly cash flow is $-832 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $438k).
• Recommended offer: $431k (1.5% below list) — sets the bar for market timing.
• Cap rate 5.2% vs local median 0.8% in Sunny Isles 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, 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; 1870 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,500/mo this rent would consume 81% of the median local household income ($67k/yr) (locally 3106% 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 $5k of equity ($3k loan paydown + $2k appreciation (0.5% 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 ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• 34 sale attempts since 12y 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 $350k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,430 (1.5% 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. Built in 1972 — 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. 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. 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?
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: 1.03% ✓
• Cap rate: 5.18%
• Cash-on-cash: -3.97%
• DSCR: 0.82
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.49×
• Total profit: $-63,064
• Equity at exit: $138,843

10-year hold

• IRR: -6.4%
• Equity multiple: 0.30×
• Total profit: $-85,312
• Equity at exit: $176,512

Cash invested: $122,640 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,297
• Tax est. 1.5%: −$548 /mo · $6,570/yr
• Insurance: −$182
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 1 same-building comp: −$933
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $-832

Break-even live

Break-even rent $5,552

Max offer price $317,638

Occupancy floor —

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: $109,500
• Closing costs: $13,140
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17875 Collins Ave Sunny Isles Beach, FL	3.0	3.0	2122	$22,000	$10.37	11d	3	0.99mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	5d	1	1.39mi
17141 Collins Ave Sunny Isles Beach, FL	3.0	2.5	2042	$19,000	$9.30	24d	1	1.39mi
17141 Collins Ave #4602 Sunny Isles Beach, FL	2.0	2.5	2042	$25,000	$12.24	7d	1	1.39mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$3,650	$2.84	24d	3	1.44mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$3,750	$2.97	20d	2	1.44mi
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	7d	1	1.44mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	2d	2	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-16
   days on market $438,000 Active 28 DOM
2. 2026-06-15
   days on market $438,000 Active 27 DOM
3. 2026-06-13
   days on market $438,000 Active 25 DOM
4. 2026-06-09
   days on market $438,000 Active 21 DOM
5. 2026-06-08
   days on market $438,000 Active 20 DOM
6. 2026-06-08
   days on market $438,000 Active 19 DOM
7. 2026-06-04
   days on market $438,000 Active 16 DOM
8. 2026-06-03
   days on market $438,000 Active 15 DOM
9. 2026-06-02
   days on market $438,000 Active 14 DOM
10. 2026-06-01
    days on market $438,000 Active 13 DOM
11. 2026-05-31
    days on market $438,000 Active 12 DOM
12. 2026-05-25
    historical $3,650
13. 2026-05-20
    listed $438,000 Active
14. 2026-03-27
    historical $3,650
15. 2026-03-26
    listed $3,650
16. 2026-03-14
    listed $3,650
17. 2026-03-06
    historical $2,750
18. 2026-03-05
    listed $2,750
19. 2026-02-25
    historical $2,750
20. 2026-01-16
    listed $2,750
21. 2025-12-31
    historical $2,900
22. 2025-11-21
    price $2,950
23. 2025-11-01
    listed $2,300
24. 2025-11-01
    historical $2,300
25. 2025-10-27
    listed $2,300
26. 2025-10-04
    listed $3,000
27. 2025-09-28
    historical $2,300
28. 2025-09-27
    listed $2,300
29. 2025-09-26
    historical $2,300
30. 2025-09-11
    historical $2,300
31. 2025-08-28
    listed $2,300
32. 2025-08-28
    price $3,300
33. 2025-08-27
    historical $3,450
34. 2025-08-17
    listed $3,450
35. 2025-05-24
    listed $2,600
36. 2025-05-17
    historical $2,600
37. 2025-01-19
    historical $2,600
38. 2025-01-16
    listed $2,600
39. 2025-01-16
    historical $2,600
40. 2025-01-15
    listed $2,600
41. 2025-01-10
    price $2,750
42. 2025-01-10
    price $2,900
43. 2025-01-09
    price $2,750
44. 2024-11-05
    listed $3,200
45. 2024-11-01
    listed $2,950
46. 2024-07-17
    historical $1,800
47. 2024-07-14
    listed $1,800
48. 2024-07-14
    historical $1,800
49. 2024-07-05
    listed $1,800
50. 2024-07-04
    historical $1,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,995
• − Mortgage interest: −$24,535
• − Property taxes: −$6,570
• − Insurance: −$7,309
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$11,196
• − Depreciation: −$12,742
• Taxable loss: −$16,995
• Est. tax savings @ 24.0%: +$4,079
• After-tax cash flow: $-5,903/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

Amenities A+ Commute A- Cost of living F Crime A Employment C Housing C- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles Beach, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

-87.8% since first listed

72 events — show timeline

• 2026-05-25 Rental Removed $3,650 SHOWMOJO
• 2026-05-20 Listed $438,000 FSBO.com
• 2026-03-27 Rental Removed $3,650 REALLYO
• 2026-03-26 Listed for Rent $3,650 REALLYO
• 2026-03-14 Listed for Rent $3,650 SHOWMOJO
• 2026-03-06 Rental Removed $2,750 REALLYO
• 2026-03-05 Listed for Rent $2,750 REALLYO
• 2026-02-25 Rental Removed $2,750 REALLYO
• 2026-01-16 Listed for Rent $2,750 REALLYO
• 2025-12-31 Rental Removed $2,900 REALLYO
• 2025-11-21 Price Changed $2,950 REALLYO
• 2025-11-01 Listed for Rent $2,300 LISTANZA
• 2025-11-01 Rental Removed $2,300 REALLYO
• 2025-10-27 Listed for Rent $2,300 REALLYO
• 2025-10-04 Listed for Rent $3,000 REALLYO
• 2025-09-28 Rental Removed $2,300 LISTANZA
• 2025-09-27 Listed for Rent $2,300 LISTANZA
• 2025-09-26 Rental Removed $2,300 REALLYO
• 2025-09-11 Rental Removed $2,300 REALLYO
• 2025-08-28 Listed for Rent $2,300 REALLYO
• 2025-08-28 Price Changed $3,300 REALLYO
• 2025-08-27 Rental Removed $3,450 LISTANZA
• 2025-08-17 Listed for Rent $3,450 REALLYO
• 2025-05-24 Listed for Rent $2,600 LISTANZA
• 2025-05-17 Rental Removed $2,600 LISTANZA
• 2025-01-19 Rental Removed $2,600 GFLMLS
• 2025-01-16 Listed for Rent $2,600 REALLYO
• 2025-01-16 Rental Removed $2,600 REALLYO
• 2025-01-15 Listed for Rent $2,600 REALLYO
• 2025-01-10 Price Changed $2,750 GFLMLS
• 2025-01-10 Price Changed $2,900 GFLMLS
• 2025-01-09 Price Changed $2,750 GFLMLS
• 2024-11-05 Listed for Rent $3,200 GFLMLS
• 2024-11-01 Listed for Rent $2,950 LISTANZA
• 2024-07-17 Rental Removed $1,800 REALLYO
• 2024-07-14 Listed for Rent $1,800 REALLYO
• 2024-07-14 Rental Removed $1,800 REALLYO
• 2024-07-05 Listed for Rent $1,800 REALLYO
• 2024-07-04 Rental Removed $1,900 REALLYO
• 2024-07-01 Listed for Rent $1,900 REALLYO
• 2024-07-01 Rental Removed $1,900 REALLYO
• 2024-06-23 Listed for Rent $1,900 REALLYO
• 2024-06-23 Rental Removed $1,900 REALLYO
• 2024-06-16 Rental Removed $1,900 REALLYO
• 2024-06-16 Listed for Rent $1,900 REALLYO
• 2024-06-16 Listed for Rent $2,400 REALLYO
• 2024-06-03 Rental Removed $2,500 REALLYO
• 2024-05-31 Listed for Rent $2,500 REALLYO
• 2024-05-31 Rental Removed $2,500 REALLYO
• 2024-05-30 Listed for Rent $2,500 REALLYO
• 2024-05-30 Rental Removed $2,500 REALLYO
• 2024-05-22 Listed for Rent $2,500 REALLYO
• 2024-05-22 Rental Removed $2,500 REALLYO
• 2024-05-22 Listed for Rent $2,500 REALLYO
• 2024-05-22 Rental Removed $2,500 REALLYO
• 2024-05-18 Listed for Rent $2,500 REALLYO
• 2024-05-18 Rental Removed $2,500 REALLYO
• 2024-05-04 Listed for Rent $2,500 REALLYO
• 2024-04-23 Rental Removed $2,400 RMLSFL
• 2024-03-04 Listed for Rent $2,400 RMLSFL
• 2024-03-04 Rental Removed $3,800 APPFOLIO
• 2024-01-26 Listed for Rent $3,800 APPFOLIO
• 2024-01-07 Rental Removed $2,200 APPFOLIO
• 2023-12-20 Listed for Rent $2,200 APPFOLIO
• 2023-06-02 Rental Removed — RENT.
• 2022-03-31 Sold (MLS) $350,000 MARMLS
• 2022-03-28 Listing Removed — MARMLS
• 2022-03-28 Listed $370,000 MARMLS
• 2020-09-24 Listing Removed — MARMLS
• 2020-09-16 Listed $199,000 MARMLS
• 2014-07-02 Listing Removed — MARMLS
• 2014-03-04 Listed $30,000 MARMLS