None · Miami Beach, FL 33140

$1,099,000

6 bd · 4.0 ba · 2,553 sqft · MultiFamily public records · 312 Days on market

Built 1932 4,450 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Cash flow +3.9/30.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Triplex - Duplex - Single Family property located 1/2 block from beach with private waterfront property access for dock or water access only. Located near the booming fauna neighborhood . Lots of shopping , restaurants , bars and very secluded. Property has 2 private parking spaces and a yard. One of the only properties of this type. Located in front of a pedestrian bridge that allows you to walk and have easy access to the west part of Miami Beach.

Key facts

• 4,450 sq ft lot
• Listed 311 days

Property features AI

Finance

• Other: One lot
• Financial info: Annual taxes listed as $10,000 (tax year 2025)

Exterior

• Home design: Faces west
• Construction: Zoning: 4000
• Exterior features: Canal front with creek and fixed bridge access; Waterfront property; Frontage of 50 feet

Interior

• Interior features: Raw land (undeveloped)

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $-4k ($-43k/yr) — negative.
• To cash-flow at today's rent, offer at most $468k (57.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $610k (44.5% below list).
• Recommended offer: $468k (57.4% below list) — sets the bar for cash-flow.
• Cap rate 2.9% 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 rising (+3.5%/yr); 673 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $6,095/mo this rent would consume 68% of the median local household income ($107k/yr) (locally 870% 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 $18k of equity ($8k loan paydown + $11k 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 4, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($967k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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; built in 1932 — 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $467,637 (57.4% 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 312 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. Built in 1932 — 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. 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 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: 0.55% ✗
• Cap rate: 2.86%
• Cash-on-cash: -12.27%
• DSCR: 0.45
• GRM: 15.0

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: -13.3%
• Equity multiple: 0.33×
• Total profit: $-205,177
• Equity at exit: $373,176

10-year hold

• IRR: -6.7%
• Equity multiple: 0.18×
• Total profit: $-252,066
• Equity at exit: $494,372

Cash invested: $307,720 (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: 673
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $6,095 medium
• Mortgage (P&I): −$5,763
• Tax from tax record: −$1,741 /mo · $20,896/yr
• Insurance: −$458
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,280
• Net cashflow: $-3,574

Break-even live

Break-even rent $10,619

Max offer price $467,637

Occupancy floor —

Sensitivity live

Price	-10% $-2,952	-5% $-3,263	+0% $-3,574	+5% $-3,885	+10% $-4,196
Rent	-10% $-4,056	-5% $-3,815	+0% $-3,574	+5% $-3,333	+10% $-3,092
Rate	-1.0pp $-3,021	-0.5pp $-3,294	base $-3,574	+0.5pp $-3,859	+1.0pp $-4,148

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: $274,750
• Closing costs: $32,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
939 W 47th Ct Unit SFH Miami Beach, FL	5.0	4.0	3630	$29,000	$7.99	25d	1	1.35mi
1201 W 47th St Unit SFH Miami Beach, FL	5.0	5.0	3000	$29,500	$9.83	25d	1	1.39mi
1201 W 47th St Miami Beach, FL	5.0	5.0	3546	$29,000	$8.18	25d	1	1.39mi

Listing history 23 events

1. 2026-06-18
   days on market $1,099,000 Active 312 DOM
2. 2026-06-17
   days on market $1,099,000 Active 311 DOM
3. 2026-06-16
   days on market $1,099,000 Active 310 DOM
4. 2026-06-15
   days on market $1,099,000 Active 309 DOM
5. 2026-06-13
   days on market $1,099,000 Active 307 DOM
6. 2026-06-09
   days on market $1,099,000 Active 303 DOM
7. 2026-06-08
   days on market $1,099,000 Active 302 DOM
8. 2026-06-08
   days on market $1,099,000 Active 301 DOM
9. 2026-06-04
   days on market $1,099,000 Active 298 DOM
10. 2026-06-03
    days on market $1,099,000 Active 297 DOM
11. 2026-06-02
    days on market $1,099,000 Active 296 DOM
12. 2026-06-01
    days on market $1,099,000 Active 295 DOM
13. 2026-05-31
    days on market $1,099,000 Active 294 DOM
14. 2025-08-10
    listed $1,099,000 Active
15. 2024-06-05
    price $2,199,000 453-char remark

    Show marketing remark (453 chars)

    Triplex - Duplex - Single Family property located 1/2 block from beach with private waterfront property access for dock or water access only. Located near the booming fauna neighborhood . Lots of shopping , restaurants , bars and very secluded. Property has 2 private parking spaces and a yard. One of the only properties of this type. Located in front of a pedestrian bridge that allows you to walk and have easy access to the west part of Miami Beach.

16. 2024-05-15
    price $2,419,000 453-char remark

    Show marketing remark (453 chars)

    Triplex - Duplex - Single Family property located 1/2 block from beach with private waterfront property access for dock or water access only. Located near the booming fauna neighborhood . Lots of shopping , restaurants , bars and very secluded. Property has 2 private parking spaces and a yard. One of the only properties of this type. Located in front of a pedestrian bridge that allows you to walk and have easy access to the west part of Miami Beach.

17. 2023-01-31
    listed $2,499,000 Active 453-char remark

    Show marketing remark (453 chars)

    Triplex - Duplex - Single Family property located 1/2 block from beach with private waterfront property access for dock or water access only. Located near the booming fauna neighborhood . Lots of shopping , restaurants , bars and very secluded. Property has 2 private parking spaces and a yard. One of the only properties of this type. Located in front of a pedestrian bridge that allows you to walk and have easy access to the west part of Miami Beach.

18. 2016-04-13
    soldstatus $1,450,000 Sold 303-char remark

    Show marketing remark (303 chars)

    Originally a single family home zoned multi-family. Recently operated as 3 units. Main house 2 units + garage apt. Take down small wall to open as single family. Waterfront Out-parcel across street is part of property. Can put dock and boat. New roof and 2 new central a/c systems. 1.5 blocks to beach.

19. 2016-04-08
    soldstatus $1,450,000
20. 2016-04-05
    status Pending 303-char remark

    Show marketing remark (303 chars)

    Originally a single family home zoned multi-family. Recently operated as 3 units. Main house 2 units + garage apt. Take down small wall to open as single family. Waterfront Out-parcel across street is part of property. Can put dock and boat. New roof and 2 new central a/c systems. 1.5 blocks to beach.

21. 2016-01-27
    price $1,650,000 303-char remark

    Show marketing remark (303 chars)

    Originally a single family home zoned multi-family. Recently operated as 3 units. Main house 2 units + garage apt. Take down small wall to open as single family. Waterfront Out-parcel across street is part of property. Can put dock and boat. New roof and 2 new central a/c systems. 1.5 blocks to beach.

22. 2016-01-26
    listed $1,550,000 Active 303-char remark

    Show marketing remark (303 chars)

    Originally a single family home zoned multi-family. Recently operated as 3 units. Main house 2 units + garage apt. Take down small wall to open as single family. Waterfront Out-parcel across street is part of property. Can put dock and boat. New roof and 2 new central a/c systems. 1.5 blocks to beach.

23. 1996-04-23
    soldstatus $185,000

ⓘ 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: $20,896 · $1,741/mo
• Projected year-2 tax: $20,896 · $1,741/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°F today · 27 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: $73,140
• − Mortgage interest: −$61,561
• − Property taxes: −$20,896
• − Insurance: −$10,614
• − Repairs & maintenance: −$5,851
• − Management: −$5,851
• − Depreciation: −$31,971
• Taxable loss: −$63,604
• Est. tax savings @ 24.0%: +$15,265
• After-tax cash flow: $-27,623/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

+494.1% since first listed

10 events — show timeline

• 2025-08-10 Listed $1,099,000 MARMLS
• 2024-06-05 Price Changed $2,199,000 MARMLS
• 2024-05-15 Price Changed $2,419,000 MARMLS
• 2023-01-31 Listed $2,499,000 MARMLS
• 2016-04-13 Sold (MLS) $1,450,000 MARMLS
• 2016-04-08 Sold (Public Records) $1,450,000 Public Records
• 2016-04-05 Pending — MARMLS
• 2016-01-27 Price Changed $1,650,000 MARMLS
• 2016-01-26 Listed $1,550,000 MARMLS
• 1996-04-23 Sold (Public Records) $185,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $20,896 · -0.2% YoY. Source: county tax records.