6039 Collins Ave #809 · Miami Beach, FL 33140

$350,000

1 bd · 2.0 ba · 1,042 sqft · Condo public records · 147 Days on market

Built 1971 $993/mo HOA · 23% of rent

---

Why this score? — see what drove the C- 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 +13.7/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

JUST REDUCED. Great opportunity to make this original 1 plus den, 2 full bath your own. Beautiful partial ocean and intercostal views. Maison Grande offers full service on the beach, gym, pool, convenience store, pool room, playground and endless amenities to enjoy life by the ocean. Special assessment of $430.85 in place for 13+years the assessment is transferable or it can be paid in full at closing. No short term rentals allowed. Rental allowed after one year of ownership. With a good rehab unit can get up to 500K.

Key facts

• Convenience store
• Gym
• Pool

Tags

• PARTIAL OCEAN VIEWS
• INTERCOSTAL VIEWS
• FULL SERVICE ON THE BEACH
• GYM
• POOL
• CONVENIENCE STORE

Property features AI

Finance

• Financial info: Pets allowed conditionally; restrictions may apply
• HOA & community: Monthly association fee of $993; Association amenities include barbecue and picnic area; Association fee covers amenities

Exterior

• Parking: Garage with 1 covered space; Garage door opener; One parking space
• Security: Doorman
• Utilities: Waterfront utilities (standard); Sewer and power available
• Home design: Attached property; 18-story building; Entry level: 8
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Courtyard; Oceanfront with ocean access; Has a view

Interior

• Flooring: Ceramic tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-43 ($-518/yr) — negative.
• To cash-flow at today's rent, offer at most $342k (2.2% below list).
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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); 670 active listings in the ZIP; 1 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 $6k 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.
• At projected returns (1.0% appreciation + 3.5% rent growth), your $98k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 $296k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 23% of rent.
• Climate carrying-cost: major flood risk; 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 $308,000 (12.0% 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 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — 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. 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?
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: 1.25% ✓
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 6.7

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: 1.2%
• Equity multiple: 1.06×
• Total profit: $6,215
• Equity at exit: $118,846

10-year hold

• IRR: 6.5%
• Equity multiple: 1.81×
• Total profit: $79,322
• Equity at exit: $157,443

Cash invested: $98,000 (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: 670
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,365 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$450 /mo · $5,406/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$993
• Vacancy / Maint / Mgmt: −$917
• Net cashflow: $-43

Break-even live

Break-even rent $4,419

Max offer price $342,372

Occupancy floor 96%

Sensitivity live

Price	-10% $155	-5% $56	+0% $-43	+5% $-142	+10% $-241
Rent	-10% $-388	-5% $-216	+0% $-43	+5% $129	+10% $302
Rate	-1.0pp $133	-0.5pp $46	base $-43	+0.5pp $-134	+1.0pp $-226

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
580 72nd St Unit 1263798P Miami Beach, FL	2.0–3.0	1.0–2.0	1194	$7,494	$6.28	2d	2	0.96mi

HOA detail condo

• Monthly dues: $993 · $11,916/yr
• Likely covers: poolgym
• ⚠ Special-assessment mentions:

  …on the beach, gym, pool, convenience store, pool room, playground and endless amenities to enjoy life by the ocean. Special assessment of $430.85 in place for 13+years the assessment is transferable or it can be paid in full at closing. No short term…

Listing history 36 events

1. 2026-06-18
   days on market $350,000 Active 147 DOM
2. 2026-06-17
   days on market $350,000 Active 146 DOM
3. 2026-06-16
   days on market $350,000 Active 145 DOM
4. 2026-06-15
   days on market $350,000 Active 144 DOM
5. 2026-06-13
   days on market $350,000 Active 142 DOM
6. 2026-06-09
   days on market $350,000 Active 138 DOM
7. 2026-06-08
   days on market $350,000 Active 137 DOM
8. 2026-06-07
   days on market $350,000 Active 136 DOM
9. 2026-06-04
   days on market $350,000 Active 133 DOM
10. 2026-06-03
    days on market $350,000 Active 132 DOM
11. 2026-06-02
    days on market $350,000 Active 131 DOM
12. 2026-06-01
    days on market $350,000 Active 130 DOM
13. 2026-05-31
    days on market $350,000 Active 129 DOM
14. 2026-01-22
    listed $350,000 Active
15. 2025-06-30
    status Pending
16. 2025-06-13
    historical Active Under Contract
17. 2025-05-28
    status Pending
18. 2025-05-28
    status Active
19. 2025-05-28
    historical
20. 2025-04-30
    status Pending
21. 2025-04-04
    historical Active Under Contract
22. 2025-03-12
    listed $337,000 Active
23. 2025-01-14
    price $357,700
24. 2024-10-25
    price $367,700
25. 2024-10-22
    price $377,700
26. 2024-07-26
    listed $387,700 Active
27. 2022-12-12
    soldstatus $295,700
28. 2022-12-06
    soldstatus $295,000 Closed
29. 2022-11-15
    status Pending
30. 2022-10-29
    status Active
31. 2022-10-14
    status Active
32. 2022-10-14
    price $340,000
33. 2022-09-14
    historical Active Under Contract
34. 2022-08-19
    listed $315,000 Active
35. 1992-12-24
    soldstatus $75,000
36. 1982-03-01
    soldstatus $78,000

ⓘ 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: $5,406 · $450/mo
• Projected year-2 tax: $5,406 · $450/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°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: $52,375
• − Mortgage interest: −$19,605
• − Property taxes: −$5,406
• − Insurance: −$2,548
• − Repairs & maintenance: −$4,190
• − Management: −$4,190
• − HOA: −$11,916
• − Depreciation: −$10,182
• Taxable loss: −$5,661
• Est. tax savings @ 24.0%: +$1,359
• After-tax cash flow: $841/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

+348.7% since first listed

23 events — show timeline

• 2026-01-22 Listed $350,000 MARMLS
• 2025-06-30 Pending — MARMLS
• 2025-06-13 Contingent — MARMLS
• 2025-05-28 Pending — MARMLS
• 2025-05-28 Relisted — MARMLS
• 2025-05-28 Listing Removed — MARMLS
• 2025-04-30 Pending — MARMLS
• 2025-04-04 Contingent — MARMLS
• 2025-03-12 Listed $337,000 MARMLS
• 2025-01-14 Price Changed $357,700 MARMLS
• 2024-10-25 Price Changed $367,700 MARMLS
• 2024-10-22 Price Changed $377,700 MARMLS
• 2024-07-26 Listed $387,700 MARMLS
• 2022-12-12 Sold (Public Records) $295,700 Public Records
• 2022-12-06 Sold (MLS) $295,000 MARMLS
• 2022-11-15 Pending — MARMLS
• 2022-10-29 Relisted — MARMLS
• 2022-10-14 Relisted — MARMLS
• 2022-10-14 Price Changed $340,000 MARMLS
• 2022-09-14 Contingent — MARMLS
• 2022-08-19 Listed $315,000 MARMLS
• 1992-12-24 Sold (Public Records) $75,000 Public Records
• 1982-03-01 Sold (Public Records) $78,000 Public Records

Property tax history

+17.3%/yr

Latest (2025): $5,406 · +0.2% YoY. Source: county tax records.