WorkspaceDiscoverMultifamily · Miami Beach · Miami-Dade County
1765 Normandy Dr, Miami Beach
Seller reports $104,000 annual gross rent across two 2-bedroom and two 1-bedroom units, with annual leases. Roof and 2020 renovation claims require records.
Recorded status: Public listing page: active. Checked: .
Dated listing record · recheck availability and legal unit count.
- Reported gross yield
- 7.5% Rent ÷ asking price
- Asking price
- $1,389,000
Monthly rent · Reported: $8,667/mo
- Estimated annual NOI
- $38,788 Before debt and capital reserves
- Estimated cap rate
- 2.8% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- $2,972 All cash · after reserves
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | $8,667 | Matches source observation |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 1.88% | Matches planning allowance |
| Annual insurance | $12,450 | Matches planning allowance |
| Annual owner-paid utilities | $4,800 | Matches planning allowance |
| Monthly HOA or condo fees | $100 | Matches planning allowance |
| Other annual operating expenses | $2,400 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
2 × 2BR/1BA + 2 × 1BR/1BA
- Reported units
- 4
- Reported listing area
- 3,024 sq ft
- Asking / reported sq ft
- $459
- Rent / year
- $104,000
- Historical property tax / year
- $15,491
Historical tax is the seller’s bill; buyer taxes can change.
Broker info & key considerations To confirm
- HOA conflict: workbook Zillow source flags an association; current broker feed reports monthly HOA N/A. Amount remains unknown.
- Reported leases and February 2026 roof have not been independently verified.
Source evidence and diligence
Financial figures observed Sep 25, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Source-reported as of Sep 25, 2026 whole-property annual base rent divided by asking price, before vacancy, expenses and financing. Freshness is unverified. This is not cap rate or a guaranteed return. Excludes separate fees and membership income.
Sources
- 18 Oct price review · MLS A12066078; reduction dated 17 Oct; earlier rent/cost provenance retainedSource observation · Oct 18, 2026
- Parkland Parrot / A12066078 · page checked 25 Sep; listing update 23 SepSource observation · Sep 25, 2026
- Listing page on zillow.comWorkbook observation · Sep 22, 2026
Questions to resolve
- Obtain unit leases, tenant estoppels and a trailing 12-month operating statement.
- Verify legal unit count, title, permitted work and possession terms.
- Obtain wind/flood insurance quotes and a buyer property-tax estimate.
- Inspect roof, structure and recertification records; price immediate work.
Similar properties
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Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods