5005 Collins Ave #222 · Miami Beach, FL 33140

$300,000

1 bd · 1.0 ba · 1,026 sqft · Condo public records · 26 Days on market

Built 1964 $1656/mo HOA · 38% 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).

• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0

Listing remarks

Spacious 1,026 SF residence at Carriage Club North, offering one of the largest one-bedroom layouts on the ocean in Miami Beach. This unit features an oversized living area, a generous primary suite, and a flexible floor plan that lives like a 1-bed + den — ideal for full-time living, seasonal use, or investment. The building sits directly on the beach with private access to the oceanfront boardwalk. Amenities include a heated pool, fitness center, valet, 24/7 security, front desk, and updated common areas. Maintenance includes A/C, cable, internet, water, and more. Located in the heart of Mid-Beach, minutes from South Beach, Bal Harbour, and the Fontainebleau corridor. A rare opportu

Key facts

• Fitness center
• 24/7 security
• Heated pool

Tags

• HEATED POOL
• FITNESS CENTER
• 24/7 SECURITY
• UPDATED COMMON AREAS
• LARGE OCEANFRONT RESIDENCE

Property features AI

Finance

• Financial info: Leases considered; Pets allowed
• HOA & community: Monthly association fee; Association amenities include bike storage, laundry, barbecue, picnic area, playground, pool, trash service, and elevators; Association fee covers common areas, cable TV, hot water, insurance, internet, grounds maintenance, parking, recreation facilities, sewer, security, trash and water

Exterior

• Parking: Covered parking (1 space); Valet parking available; One-space garage
• Security: Secured elevator; Secured lobby; Fire sprinkler system
• Utilities: Water service; Sewer service; Electric service
• Home design: Condominium in a 15-story building; Entry on 2nd level; Attached property
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Deck; Association pool; Oceanfront with ocean access

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric cooling
• Interior features: Furnished; First floor entry; 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 $300k.

Deal economics

• At list price, monthly cash flow is $-558 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (32.9% below list).
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $201k (32.9% below list) — sets the bar for cash-flow.
• Cap rate 4.3% 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.
• Zoned schools: North Beach Elementary School (math 75% / reading 79%, grade A, #170 of 2,144 statewide, top 9%, 937 students, 24% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 36% FRL vs 64% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 672 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k 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 7, 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 26 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $160k; list at $300k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 38% of rent.
• Climate carrying-cost: severe flood risk; 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 $201,426 (32.9% 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 1964 — 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: 1.45% ✓
• Cap rate: 4.33%
• Cash-on-cash: -7.02%
• DSCR: 0.69
• GRM: 5.7

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: -6.3%
• Equity multiple: 0.68×
• Total profit: $-26,911
• Equity at exit: $101,868

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $1,054
• Equity at exit: $134,951

Cash invested: $84,000 (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 33140

• Home prices YoY: 0.3%
• Rents YoY: 3.5%
• Active inventory: 672
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $4,349 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$573 /mo · $6,878/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,656
• Vacancy / Maint / Mgmt: −$913
• Net cashflow: $-558

Break-even live

Break-even rent $5,056

Max offer price $201,426

Occupancy floor —

Sensitivity live

Price	-10% $-388	-5% $-473	+0% $-558	+5% $-643	+10% $-728
Rent	-10% $-902	-5% $-730	+0% $-558	+5% $-386	+10% $-214
Rate	-1.0pp $-407	-0.5pp $-482	base $-558	+0.5pp $-636	+1.0pp $-715

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Collins Ave #1204 Miami Beach, FL	2.0	2.5	1493	$25,000	$16.74	26d	1	1.42mi
2901 Collins Ave #1204 Miami Beach, FL	2.0	2.5	1493	$20,000	$13.40	9d	1	1.42mi

HOA detail condo

• Monthly dues: $1,656 · $19,872/yr
• Likely covers: waterinternetcablepoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $300,000 Active 26 DOM
2. 2026-06-18
   days on market $300,000 Active 23 DOM
3. 2026-06-17
   days on market $300,000 Active 22 DOM
4. 2026-06-16
   days on market $300,000 Active 21 DOM
5. 2026-06-15
   days on market $300,000 Active 20 DOM
6. 2026-06-13
   days on market $300,000 Active 18 DOM
7. 2026-06-09
   days on market $300,000 Active 14 DOM
8. 2026-06-08
   days on market $300,000 Active 13 DOM
9. 2026-06-07
   days on market $300,000 Active 12 DOM
10. 2026-06-04
    days on market $300,000 Active 9 DOM
11. 2026-06-03
    days on market $300,000 Active 8 DOM
12. 2026-06-02
    days on market $300,000 Active 7 DOM
13. 2026-06-01
    days on market $300,000 Active 6 DOM
14. 2026-05-31
    days on market $300,000 Active 5 DOM
15. 2026-05-26
    listed $300,000 Active
16. 2026-05-13
    listed $2,500
17. 2026-02-24
    historical
18. 2025-02-26
    listed $295,000 Active
19. 2025-02-12
    historical $2,900
20. 2025-01-24
    price $2,900
21. 2024-05-10
    listed $2,500
22. 2023-12-15
    historical $2,900
23. 2023-10-06
    listed $2,900
24. 2023-09-26
    historical $2,900
25. 2023-07-28
    price $2,900
26. 2003-08-20
    soldstatus $160,000
27. 1991-05-16
    soldstatus $105,000
28. 1990-02-28
    soldstatus $81,800
29. 1990-02-01
    soldstatus $81,800

ⓘ 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: $6,878 · $573/mo
• Projected year-2 tax: $6,878 · $573/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 10/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,191
• − Mortgage interest: −$16,805
• − Property taxes: −$6,878
• − Insurance: −$2,298
• − Repairs & maintenance: −$4,175
• − Management: −$4,175
• − HOA: −$19,872
• − Depreciation: −$8,727
• Taxable loss: −$10,740
• Est. tax savings @ 24.0%: +$2,578
• After-tax cash flow: $-4,119/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

+266.7% since first listed

15 events — show timeline

• 2026-05-26 Listed $300,000 MARMLS
• 2026-05-13 Listed for Rent $2,500 MARMLS
• 2026-02-24 Listing Removed — MARMLS
• 2025-02-26 Listed $295,000 MARMLS
• 2025-02-12 Rental Removed $2,900 MARMLS
• 2025-01-24 Price Changed $2,900 MARMLS
• 2024-05-10 Listed for Rent $2,500 MARMLS
• 2023-12-15 Rental Removed $2,900 MARMLS
• 2023-10-06 Listed for Rent $2,900 MARMLS
• 2023-09-26 Rental Removed $2,900 MARMLS
• 2023-07-28 Price Changed $2,900 MARMLS
• 2003-08-20 Sold (Public Records) $160,000 Public Records
• 1991-05-16 Sold (Public Records) $105,000 Public Records
• 1990-02-28 Sold (Public Records) $81,800 Public Records
• 1990-02-01 Sold (Public Records) $81,800 Public Records

Property tax history

+12.9%/yr

Latest (2025): $6,878 · +6.0% YoY. Source: county tax records.