1200 Brickell Bay Dr #2814 · Miami, FL 33131

$450,000

1 bd · 1.0 ba · 818 sqft · Condo public records · 260 Days on market

Built 2005 $704/mo HOA · 17% 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 +8.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks

This modern 1-bedroom condo at The Club at Brickell Bay offers an exceptional opportunity to experience the vibrant lifestyle of Miami’s Brickell neighborhood. This is one of the best priced units in the building! Located in one of the few buildings that allow short-term Airbnb rentals, this unit is perfect for investors looking to capitalize on Miami's booming rental market. The spacious interior features an open-concept living area with large windows that provide an abundance of natural light and sweeping city views. Residents of The Club enjoy access to a range of premium amenities, including a resort-style pool, fitness center, and 24-hour concierge service.

Key facts

• Large windows
• Fitness center
• Resort-style pool

Tags

• RESORT-STYLE POOL
• FITNESS CENTER
• 24-HOUR CONCIERGE SERVICE
• OPEN-CONCEPT LIVING AREA
• LARGE WINDOWS
• SWEEPING CITY VIEWS

Property features AI

Finance

• Financial info: Pets allowed (dogs OK)
• HOA & community: Monthly association fee; Community clubhouse; Community pool; Elevator access

Exterior

• Parking: Attached garage with 1 covered space
• Security: Secured lobby; Security guard; Smoke detectors
• Utilities: Standard municipal utilities; Electric service
• Home design: Attached property; Entry located on level 28; High-rise building
• Construction: Block construction; Resale property
• Exterior features: Balcony (open); Association pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Gas/ Electric range not specified
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-434 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $373k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $426k (5.4% below list).
• Recommended offer: $373k (17.0% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 1.9% in Miami — 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 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, 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: Southside Preparatory Academy (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 929 students, 39% FRL); Shenandoah Middle School (math 34% / reading 44%, grade F, #381 of 571 statewide, top 67%, 1,296 students, 72% FRL); Booker T. Washington Senior High (math 12% / reading 19%, grade F, #604 of 667 statewide, top 91%, 1,014 students, 60% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-12 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.0%/yr); 1019 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 35% of the median local income ($144k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 260 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Recommended offer $373,370 (17.0% 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. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 0.95% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.31×
• Total profit: $-86,862
• Equity at exit: $85,471

10-year hold

• IRR: -12.7%
• Equity multiple: 0.12×
• Total profit: $-110,303
• Equity at exit: $71,216

Cash invested: $126,000 (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 33131

• Home prices YoY: -0.7%
• Rents YoY: 2.0%
• Active inventory: 1019
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $4,257 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$546 /mo · $6,548/yr
• Insurance: −$188
• HOA: −$704
• Vacancy / Maint / Mgmt: −$894
• Net cashflow: $-434

Break-even live

Break-even rent $4,806

Max offer price $373,370

Occupancy floor —

Sensitivity live

Price	-10% $-179	-5% $-306	+0% $-434	+5% $-561	+10% $-689
Rent	-10% $-770	-5% $-602	+0% $-434	+5% $-266	+10% $-97
Rate	-1.0pp $-207	-0.5pp $-319	base $-434	+0.5pp $-550	+1.0pp $-669

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 NE 1st Ave Unit 1227496P Miami, FL	3.0	1.0–3.0	904	$8,354	$9.24	0d	4	1.35mi

HOA detail condo

• Monthly dues: $704 · $8,448/yr
• Likely covers: poolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $450,000 Active 260 DOM
2. 2026-06-18
   days on market $450,000 Active 257 DOM
3. 2026-06-17
   days on market $450,000 Active 256 DOM
4. 2026-06-16
   days on market $450,000 Active 255 DOM
5. 2026-06-15
   days on market $450,000 Active 254 DOM
6. 2026-06-13
   days on market $450,000 Active 252 DOM
7. 2026-06-09
   days on market $450,000 Active 248 DOM
8. 2026-06-08
   days on market $450,000 Active 247 DOM
9. 2026-06-08
   days on market $450,000 Active 246 DOM
10. 2026-06-04
    days on market $450,000 Active 243 DOM
11. 2026-06-03
    days on market $450,000 Active 242 DOM
12. 2026-06-02
    days on market $450,000 Active 241 DOM
13. 2026-06-01
    days on market $450,000 Active 240 DOM
14. 2026-05-31
    days on market $450,000 Active 239 DOM
15. 2025-12-23
    price $450,000
16. 2025-10-07
    price $440,000
17. 2025-10-04
    listed $455,000 Active
18. 2025-09-30
    historical
19. 2025-05-09
    listed $456,000 Active
20. 2025-03-31
    historical
21. 2024-11-18
    listed $456,000 Active
22. 2024-08-28
    historical $2,700
23. 2024-07-25
    listed $2,700

ⓘ 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: $6,548 · $546/mo
• Projected year-2 tax: $6,548 · $546/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $51,087
• − Mortgage interest: −$25,207
• − Property taxes: −$6,548
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,087
• − Management: −$4,087
• − HOA: −$8,448
• − Depreciation: −$13,091
• Taxable loss: −$12,631
• Est. tax savings @ 24.0%: +$3,031
• After-tax cash flow: $-2,174/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

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,095
• Household income: $144,138
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 1866.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 35% White 33% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1% Salvadoran 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Estonian 2%
• Foreign-born: 54% · Canada, Jamaica, Dominican Republic
• Languages at home: 30% English-only · Spanish 53% Other Indo-European 6% French/Haitian/Cajun 4%

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: ▼ -2.09%
• Current HPI: 281.1156
• Rent YoY: ▲ 2.04%
• 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

+16566.7% since first listed

9 events — show timeline

• 2025-12-23 Price Changed $450,000 MARMLS
• 2025-10-07 Price Changed $440,000 MARMLS
• 2025-10-04 Listed $455,000 MARMLS
• 2025-09-30 Listing Removed — MARMLS
• 2025-05-09 Listed $456,000 MARMLS
• 2025-03-31 Listing Removed — MARMLS
• 2024-11-18 Listed $456,000 MARMLS
• 2024-08-28 Rental Removed $2,700 MARMLS
• 2024-07-25 Listed for Rent $2,700 MARMLS

Property tax history

+6.2%/yr

Latest (2025): $6,548 · +1.5% YoY. Source: county tax records.