41 SE 5th St #1306 · Miami, FL 33131

$460,000

1 bd · 1.0 ba · 1,056 sqft · Condo public records · 78 Days on market

Built 2006 $930/mo HOA · 19% of rent

---

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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.2/10.0
• Appreciation +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Brickell loft-style living at it's finest in this 1 Bedroom, 1.5 Bath with 20ft ceilings! The largest floor plan of it's kind, a beautiful 1,056sqft 2 story loft! This modern build open layout allows plenty of natural light, a spacious balcony with city views, updated appliances and washer/dryer in unit. Newer porcelain floors on 1st level, wood floors in the master and walk-in closet with plenty of space. Master bath with dual sinks and full size tub+shower. A building full of amenities including, gym, pool, hot tub, sauna, steam room and more! 1 Assigned parking + cable/internet included. Conveniently located across from Brickell City Centre with all the best dining, shopping

Key facts

• Updated appliances
• Spacious balcony
• City views

Tags

• 20FT CEILINGS
• SPACIOUS BALCONY
• CITY VIEWS
• UPDATED APPLIANCES
• WASHER DRYER IN UNIT
• NEWER PORCELAIN FLOORS

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, cable TV, insurance, internet, structure maintenance, parking, recreation facilities, sewer, security, and water; Association amenities: bike storage, business center, clubhouse, fitness center, barbecue/picnic area, pool, spa/hot tub, elevators

Exterior

• Parking: Assigned covered parking; One covered space; On-street parking available; Valet parking; 1-car garage
• Security: Doorman; Elevator secured; Key card entry; Security guard
• Utilities: Water included in association; Sewer included in association; Cable and internet included in association; Electric service; Central HVAC
• Home design: Property is attached; Entry located on level 13; Resale unit; High-rise building (multiple stories)
• Construction: Block construction
• Exterior features: Balcony; Open balcony/patio; Security/high impact doors; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Split bedrooms; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $460k.

Deal economics

• At list price, monthly cash flow is $-642 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $347k (24.6% below list).
• Meets the 1% rule at list price ($5k rent vs $460k).
• Recommended offer: $347k (24.6% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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.
• Market conditions: Rents rising (+2.0%/yr); 1018 active listings in the ZIP; high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• This rent runs 41% 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 $10k 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 78 days — a 6% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $346,655 (24.6% 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 78 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.06% ✓
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• GRM: 7.8

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: -21.0%
• Equity multiple: 0.21×
• Total profit: $-101,537
• Equity at exit: $87,370

10-year hold

• IRR: -16.5%
• Equity multiple: -0.09×
• Total profit: $-140,582
• Equity at exit: $72,798

Cash invested: $128,800 (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: 1018
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $4,886 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$541 /mo · $6,494/yr
• Insurance: −$192
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$930
• Vacancy / Maint / Mgmt: −$1,026
• Net cashflow: $-642

Break-even live

Break-even rent $5,698

Max offer price $346,655

Occupancy floor —

Sensitivity live

Price	-10% $-381	-5% $-511	+0% $-642	+5% $-772	+10% $-902
Rent	-10% $-1,028	-5% $-835	+0% $-642	+5% $-449	+10% $-256
Rate	-1.0pp $-410	-0.5pp $-525	base $-642	+0.5pp $-761	+1.0pp $-882

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $930 · $11,160/yr
• Likely covers: internetcablepoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $460,000 Active 78 DOM
2. 2026-06-18
   days on market $460,000 Active 75 DOM
3. 2026-06-17
   days on market $460,000 Active 74 DOM
4. 2026-06-16
   days on market $460,000 Active 73 DOM
5. 2026-06-15
   days on market $460,000 Active 72 DOM
6. 2026-06-13
   days on market $460,000 Active 70 DOM
7. 2026-06-09
   days on market $460,000 Active 66 DOM
8. 2026-06-08
   days on market $460,000 Active 65 DOM
9. 2026-06-07
   days on market $460,000 Active 64 DOM
10. 2026-06-04
    days on market $460,000 Active 61 DOM
11. 2026-06-03
    days on market $460,000 Active 60 DOM
12. 2026-06-02
    days on market $460,000 Active 59 DOM
13. 2026-06-01
    days on market $460,000 Active 58 DOM
14. 2026-05-31
    days on market $460,000 Active 57 DOM
15. 2026-04-04
    listed $460,000 Active
16. 2024-08-27
    historical $3,200
17. 2024-08-23
    price $3,200
18. 2024-08-07
    listed $3,250
19. 2018-06-20
    historical
20. 2017-09-20
    price $335,000
21. 2017-08-29
    price $340,000
22. 2017-07-25
    listed $349,000 Active

ⓘ 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: $6,494 · $541/mo
• Projected year-2 tax: $6,494 · $541/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 26 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: $58,634
• − Mortgage interest: −$25,767
• − Property taxes: −$6,494
• − Insurance: −$7,418
• − Repairs & maintenance: −$4,691
• − Management: −$4,691
• − HOA: −$11,160
• − Depreciation: −$13,382
• Taxable loss: −$14,969
• Est. tax savings @ 24.0%: +$3,593
• After-tax cash flow: $-4,107/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

+31.8% since first listed

8 events — show timeline

• 2026-04-04 Listed $460,000 MARMLS
• 2024-08-27 Rental Removed $3,200 MARMLS
• 2024-08-23 Price Changed $3,200 MARMLS
• 2024-08-07 Listed for Rent $3,250 MARMLS
• 2018-06-20 Listing Removed — MARMLS
• 2017-09-20 Price Changed $335,000 MARMLS
• 2017-08-29 Price Changed $340,000 MARMLS
• 2017-07-25 Listed $349,000 MARMLS

Property tax history

+4.3%/yr

Latest (2025): $6,494 · +5.6% YoY. Source: county tax records.