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Waterfront · Condominium
$189,900$285 / sqft
1185 Marseille Dr # 209, Miami Beach FL 33141
Listed
1
Bedrooms
1
Bathrooms
666 sqft
Interior
1960
Year built
$650 / mo
HOA
Condominium
Type
About this home
Located in the heart of Normandy Isle, this spacious 1-bedroom, 1-bath residence at Rive Marseilles offers a clean, open layout with defined living and dining areas, designed for both comfort and functionality. Positioned on the second floor, the unit features a bright and airy living space with natural light, seamlessly connecting to a dedicated dining area near the kitchen, creating a practical and intuitive flow for everyday living. Set within a classic Miami Modern (MiMo) waterfront building, residents enjoy a gated community, pool deck overlooking the Normandy Waterway, and a quiet residential environment just minutes from the beach, Normandy Shores Golf Course, and local dining. A key differentiator: the unit includes a deeded, assigned parking space, a critical asset in this area where parking availability directly impacts long-term value and rental desirability. The building completed its 40-year recertification in 2015, reinforcing structural integrity and reducing near-term uncertainty for buyers. Currently tenant-occupied through November 30, generating $1,650/month, offering immediate income for investors or a clear timeline for end-users planning future occupancy. Ideal for both end-users seeking a primary residence in Miami Beach and investors targeting stable, long-term rentals, with a minimum 1-year lease policy in place.
Features
- Second Floor Entry
- East Of Us1
- None
- Canal
- River
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,350–$4,500.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.