None · Miami Beach, FL 33141

$229,900

1 bd · 1.0 ba · 780 sqft · Condo public records · 267 Days on market

Built 1973 $937/mo HOA · 23% 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 +27.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.8/10.0
• 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

Very nice 1BED 1.5BATH Condo located in The HEART of Normandy Isle in beautiful Miami Beach. This unit features an Open balcony with gorgeous views. Unit faces the eastern views side to watch the sunrise each morning while enjoying your morning drink, or in the evening with a glass of wine. The unit has been equipped with accordion hurricane shutters. Walk to trendy shops, dining, beaches. Or take the courtesy Trolley to restaurants, Farmers, Supermarkets, post offices, Movie Theaters, Golf, Public Park, etc. This building has an elevated pool deck with a gym and sauna, the elevators recently renovated, currently no special assessments.

Key facts

• Eastern views
• Sauna
• Gym

Tags

• OPEN BALCONY
• EASTERN VIEWS
• IMPACT WINDOWS
• POOL DECK
• GYM
• SAUNA

Property features AI

Finance

• Other: Association pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include fitness center, laundry, pool, sauna, trash service, and elevators; Association covers management, amenities, common areas, insurance, grounds maintenance, structure maintenance, roof, sewer, trash, and water

Exterior

• Parking: 1-car garage with garage door opener; Guest parking available
• Security: Complex is fenced; Secured elevator; Smoke detectors
• Utilities: Association-managed water and sewer service
• Home design: Condominium/attached property; 11-story building; Entry on level 4; Resale unit
• Construction: Block construction
• Exterior features: Balcony; Fence; Open balcony/patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Impact glass windows; Family/Dining room; Living/Dining room; Tub with shower; Elevator access
• Laundry & utility: Common area laundry

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 $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• 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 $3,992/mo this rent would consume 70% 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 267 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 24% 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 23% 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→28/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 267 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 1973 — 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: 1.74% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.09%
• DSCR: 1.58
• GRM: 4.8

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: -13.0%
• Equity multiple: 0.55×
• Total profit: $-28,878
• Equity at exit: $34,279

10-year hold

• IRR: -12.5%
• Equity multiple: 0.41×
• Total profit: $-38,171
• 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: 4.8×

Monthly cashflow live

• Estimated rent: $3,992 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$213 /mo · $2,556/yr
• Insurance: −$96
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$937
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $276

Break-even live

Break-even rent $3,643

Max offer price $229,900

Occupancy floor 88%

Sensitivity live

Price	-10% $406	-5% $341	+0% $276	+5% $210	+10% $145
Rent	-10% $-40	-5% $118	+0% $276	+5% $433	+10% $591
Rate	-1.0pp $391	-0.5pp $334	base $276	+0.5pp $216	+1.0pp $155

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: $937 · $11,244/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $229,900 Active 267 DOM
2. 2026-06-17
   days on market $229,900 Active 266 DOM
3. 2026-06-16
   days on market $229,900 Active 265 DOM
4. 2026-06-15
   days on market $229,900 Active 264 DOM
5. 2026-06-13
   days on market $229,900 Active 262 DOM
6. 2026-06-09
   days on market $229,900 Active 258 DOM
7. 2026-06-08
   days on market $229,900 Active 257 DOM
8. 2026-06-08
   days on market $229,900 Active 256 DOM
9. 2026-06-04
   days on market $229,900 Active 253 DOM
10. 2026-06-03
    days on market $229,900 Active 252 DOM
11. 2026-06-02
    days on market $229,900 Active 251 DOM
12. 2026-06-01
    days on market $229,900 Active 250 DOM
13. 2026-05-31
    days on market $229,900 Active 249 DOM
14. 2026-01-11
    price $229,900
15. 2025-12-02
    price $249,900
16. 2025-09-24
    listed $259,900 Active
17. 2024-01-15
    historical $2,000
18. 2023-12-13
    listed $2,000
19. 2022-01-26
    soldstatus $185,000
20. 2022-01-21
    soldstatus $185,000 646-char remark

    Show marketing remark (646 chars)

    Very nice 1BED 1.5BATH Condo located in The HEART of Normandy Isle in beautiful Miami Beach. This unit features an Open balcony with gorgeous views. Unit faces the eastern views side to watch the sunrise each morning while enjoying your morning drink, or in the evening with a glass of wine. The unit has been equipped with accordion hurricane shutters. Walk to trendy shops, dining, beaches. Or take the courtesy Trolley to restaurants, Farmers, Supermarkets, post offices, Movie Theaters, Golf, Public Park, etc. This building has an elevated pool deck with a gym and sauna, the elevators recently renovated, currently no special assessments.

21. 2021-07-24
    listed $199,999 646-char remark

    Show marketing remark (646 chars)

    Very nice 1BED 1.5BATH Condo located in The HEART of Normandy Isle in beautiful Miami Beach. This unit features an Open balcony with gorgeous views. Unit faces the eastern views side to watch the sunrise each morning while enjoying your morning drink, or in the evening with a glass of wine. The unit has been equipped with accordion hurricane shutters. Walk to trendy shops, dining, beaches. Or take the courtesy Trolley to restaurants, Farmers, Supermarkets, post offices, Movie Theaters, Golf, Public Park, etc. This building has an elevated pool deck with a gym and sauna, the elevators recently renovated, currently no special assessments.

22. 2001-05-01
    soldstatus $79,000
23. 1984-03-01
    soldstatus $35,000
24. 1977-01-01
    soldstatus $29,900

ⓘ 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: $2,556 · $213/mo
• Projected year-2 tax: $2,556 · $213/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 · 28 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: $47,901
• − Mortgage interest: −$12,878
• − Property taxes: −$2,556
• − Insurance: −$6,268
• − Repairs & maintenance: −$3,832
• − Management: −$3,832
• − HOA: −$11,244
• − Depreciation: −$6,688
• Taxable income: $603
• Est. tax owed @ 24.0%: −$145
• After-tax cash flow: $3,162/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

+668.9% since first listed

11 events — show timeline

• 2026-01-11 Price Changed $229,900 MARMLS
• 2025-12-02 Price Changed $249,900 MARMLS
• 2025-09-24 Listed $259,900 MARMLS
• 2024-01-15 Rental Removed $2,000 MARMLS
• 2023-12-13 Listed for Rent $2,000 MARMLS
• 2022-01-26 Sold (Public Records) $185,000 Public Records
• 2022-01-21 Sold (MLS) $185,000 Beaches MLS
• 2021-07-24 Listed $199,999 Beaches MLS
• 2001-05-01 Sold (Public Records) $79,000 Public Records
• 1984-03-01 Sold (Public Records) $35,000 Public Records
• 1977-01-01 Sold (Public Records) $29,900 Public Records

Property tax history

+10.8%/yr

Latest (2025): $2,556 · -23.2% YoY. Source: county tax records.