10178 Collins Ave #208 · Bal Harbour, FL 33154

$475,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 97 Days on market

Built 1950 $458/mo HOA

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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 +12.6/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks MLS

Location, Location, Location! Great Bal Harbour co-op unit right across from the ocean. Walk to the Bal Harbour Shops. This is a very spacious one bedroom, one bath, garden view unit. Nice size kitchen and large walk in closets. Storage space also. Please call listing agent, 24 hour notice. There will be a mandatory background check that costs $75.00 for an individual and $125.00 for a couple. Maintenance fees are split into two payments and due in the month's of January and July.

Key facts

• Sleek white kitchen
• Ample counter space
• $458 HOA

Tags

• RENOVATED CO-OP RESIDENCE
• BRIGHT AND MODERN UNIT
• SLEEK WHITE KITCHEN
• CONTEMPORARY CABINETRY
• STAINLESS STEEL APPLIANCES
• AMPLE COUNTER SPACE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $458; Association includes management, common area maintenance, grounds maintenance, structure maintenance, sewer, trash, and laundry

Exterior

• Parking: 1 covered garage space; Covered guest parking (one space)
• Security: Smoke detectors
• Utilities: Has cooling and heating
• Home design: Attached property; 2-story building; Entry on level 2
• Construction: Block construction; Resale property
• Exterior features: Courtyard

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave
• Bedrooms: Bedroom located on main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Blinds on windows; Living/Dining room; Bedroom on main level
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $475,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $-487 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $389k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $439k (7.5% below list).
• Recommended offer: $389k (18.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#217 in FL, #3,392 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A; Watch: amenities 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: Ruth K. Broad Bay Harbor K-8 Center (math 76% / reading 76%, grade A, #198 of 2,144 statewide, top 10%, 1,249 students, 29% 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 38% FRL vs 64% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.3%/yr); 523 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,394/mo this rent would consume 59% of the median local household income ($90k/yr) (locally 774% 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 $32k of equity ($3k loan paydown + $29k appreciation (6.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $475k implies a 265% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $389,007 (18.1% 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 97 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.93% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.73×
• Total profit: $97,252
• Equity at exit: $302,336

10-year hold

• IRR: 10.9%
• Equity multiple: 3.16×
• Total profit: $287,280
• Equity at exit: $551,522

Cash invested: $133,000 (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 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 523
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $4,394 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$384 /mo · $4,614/yr
• Insurance: −$198
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$458
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $-487

Break-even live

Break-even rent $5,010

Max offer price $389,007

Occupancy floor —

Sensitivity live

Price	-10% $-218	-5% $-352	+0% $-487	+5% $-621	+10% $-756
Rent	-10% $-834	-5% $-660	+0% $-487	+5% $-313	+10% $-140
Rate	-1.0pp $-248	-0.5pp $-366	base $-487	+0.5pp $-610	+1.0pp $-735

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $458 · $5,496/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $475,000 Active 97 DOM
2. 2026-06-18
   days on market $475,000 Active 94 DOM
3. 2026-06-17
   days on market $475,000 Active 93 DOM
4. 2026-06-16
   days on market $475,000 Active 92 DOM
5. 2026-06-15
   days on market $475,000 Active 91 DOM
6. 2026-06-13
   days on market $475,000 Active 89 DOM
7. 2026-06-09
   days on market $475,000 Active 85 DOM
8. 2026-06-08
   days on market $475,000 Active 84 DOM
9. 2026-06-07
   days on market $475,000 Active 83 DOM
10. 2026-06-04
    days on market $475,000 Active 80 DOM
11. 2026-06-03
    days on market $475,000 Active 79 DOM
12. 2026-06-02
    days on market $475,000 Active 78 DOM
13. 2026-06-01
    days on market $475,000 Active 77 DOM
14. 2026-05-31
    days on market $475,000 Active 76 DOM
15. 2026-05-20
    price $475,000
16. 2026-03-16
    listed $500,000 Active
17. 2016-06-22
    soldstatus $130,000 Sold 485-char remark

    Show marketing remark (485 chars)

    Location, Location, Location! Great Bal Harbour co-op unit right across from the ocean. Walk to the Bal Harbour Shops. This is a very spacious one bedroom, one bath, garden view unit. Nice size kitchen and large walk in closets. Storage space also. Please call listing agent, 24 hour notice. There will be a mandatory background check that costs $75.00 for an individual and $125.00 for a couple. Maintenance fees are split into two payments and due in the month's of January and July.

18. 2016-03-30
    status Pending 485-char remark

    Show marketing remark (485 chars)

    Location, Location, Location! Great Bal Harbour co-op unit right across from the ocean. Walk to the Bal Harbour Shops. This is a very spacious one bedroom, one bath, garden view unit. Nice size kitchen and large walk in closets. Storage space also. Please call listing agent, 24 hour notice. There will be a mandatory background check that costs $75.00 for an individual and $125.00 for a couple. Maintenance fees are split into two payments and due in the month's of January and July.

19. 2016-02-24
    price $215,000 485-char remark

    Show marketing remark (485 chars)

    Location, Location, Location! Great Bal Harbour co-op unit right across from the ocean. Walk to the Bal Harbour Shops. This is a very spacious one bedroom, one bath, garden view unit. Nice size kitchen and large walk in closets. Storage space also. Please call listing agent, 24 hour notice. There will be a mandatory background check that costs $75.00 for an individual and $125.00 for a couple. Maintenance fees are split into two payments and due in the month's of January and July.

20. 2016-01-17
    listed $225,700 Active 485-char remark

    Show marketing remark (485 chars)

    Location, Location, Location! Great Bal Harbour co-op unit right across from the ocean. Walk to the Bal Harbour Shops. This is a very spacious one bedroom, one bath, garden view unit. Nice size kitchen and large walk in closets. Storage space also. Please call listing agent, 24 hour notice. There will be a mandatory background check that costs $75.00 for an individual and $125.00 for a couple. Maintenance fees are split into two payments and due in the month's of January and July.

21. 2012-03-30
    soldstatus $105,000

ⓘ 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: $4,614 · $384/mo
• Projected year-2 tax: $4,614 · $384/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 AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°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: $52,725
• − Mortgage interest: −$26,607
• − Property taxes: −$4,614
• − Insurance: −$7,494
• − Repairs & maintenance: −$4,218
• − Management: −$4,218
• − HOA: −$5,496
• − Depreciation: −$13,818
• Taxable loss: −$13,739
• Est. tax savings @ 24.0%: +$3,297
• After-tax cash flow: $-2,544/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 — Bal Harbour

• Score: 76/100
• State rank: #217
• US rank: #3392

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bal Harbour, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,435
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

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: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% 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: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• 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

+352.4% since first listed

7 events — show timeline

• 2026-05-20 Price Changed $475,000 MARMLS
• 2026-03-16 Listed $500,000 MARMLS
• 2016-06-22 Sold (MLS) $130,000 MARMLS
• 2016-03-30 Pending — MARMLS
• 2016-02-24 Price Changed $215,000 MARMLS
• 2016-01-17 Listed $225,700 MARMLS
• 2012-03-30 Sold (Public Records) $105,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $4,614 · +2.8% YoY. Source: county tax records.