3 Grove Isle Dr Unit C307
Miami, FL 33133 · condos · For Sale · 106 days on market
Asking price$1,499,000
2 beds 2 baths 1,882 sqft
Listed by Evan Goldman · RE/MAX Advance Realty II
Typecondos
Built1981
Price / sqft$796
Est. value (own analysis)$1,599,587
Rent estimate (own analysis)$7,100/mo
HOA$2,840/mo
Wind10/10Extreme$Heat10/10ExtremeAir2/10MinorFlood1/10minimal$Wildfire1/10Minimal
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Statusfor_sale
Listed date2026-05-19
Removed date—
MLSMiamiMLS #A12021794
Coordinates25.73513, -80.21875
Address3 Grove Isle Dr Unit C307
CityMiami
StateFL
Zip33133
Listing ID5024806376
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33133)
Typical home value (ZHVI)$1,352,044
Typical rent (ZORI)$3,793/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.
Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $1,499,000 |
| Down payment (20.0%) | $299,800 |
| Loan amount | $1,199,200 |
| Closing costs (5.0%) | $74,950 |
| Total cash to close | $374,750 |
| Income | |
| Rent (comp-derived) | $7,100$85,200 |
| Vacancy loss (8.0%) | |
| Effective gross income | $6,532$78,384 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $2,373$28,481 |
| Insurance (est. scaled by flood & wind risk) | $1,499$17,988 |
| HOA dues | $2,840$34,080 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $355$4,260 |
| Total operating expenses | $7,067$84,809 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $355$4,260 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 2 | 2 | 1,389 | $6,895 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,882 | $9,400 | 2026-08-19 | — | |
| apartment | 2 | 1 | 1,840 | $2,600 | 2026-08-17 | — | |
| apartment | 2 | 3 | 1,800 | $5,300 | 2026-08-16 | — | |
| apartment | 2 | 1 | 1,584 | $2,499 | 2026-08-12 | — | |
| condos | 2 | 2 | 1,774 | $7,250 | 2026-08-07 | — | |
| condos | 2 | 2 | 1,642 | $7,100 | 2026-08-07 | — | |
| apartment | 2 | 2 | 1,250 | $3,000 | 2026-08-06 | — | |
| condos | 2 | 3 | 1,666 | $9,000 | 2026-08-05 | — | |
| condos | 2 | 3 | 1,581 | $9,000 | 2026-08-05 | — | |
| condos | 2 | 3 | 1,530 | $12,000 | 2026-08-05 | — | |
| condos | 2 | 2 | 1,649 | $7,500 | 2026-07-26 | — | |
| apartment | 2 | 1 | 2,486 | $2,650 | 2026-07-20 | — | |
| condos | 2 | 2 | 1,882 | $6,500 | 2026-07-14 | — | |
| apartment | 2 | 1 | 1,472 | $2,500 | 2026-07-13 | — | |
| condos | 2 | 3 | 1,910 | $13,900 | 2026-07-10 | — | |
| condos | 2 | 2 | 1,642 | $7,950 | 2026-06-10 | — | |
| apartment | 2 | 1 | 1,964 | $3,500 | 2026-05-29 | — | |
| condos | 2 | 2 | 1,642 | $7,800 | 2026-05-28 | — | |
| condos | 2 | 3 | 1,540 | $10,000 | 2026-05-26 | — | |
| apartment | 2 | 2 | 1,325 | $6,897 | 2026-08-01 | — | |
| condos | 2 | 3 | 1,967 | $24,900 | 2026-07-30 | — | |
| condos | 2 | 2 | 1,805 | $9,750 | 2026-08-03 | — | |
| condos | 2 | 2 | 1,474 | $12,500 | 2026-07-28 | — | |
| apartment | 2 | 1 | 2,280 | $3,000 | 2026-03-14 | — | |
| condos | 2 | 3 | 1,530 | $14,000 | 2026-04-22 | — | |
| apartment | 2 | 3 | 1,315 | $7,273 | — | — | |
| apartment | 2 | 2 | 1,264 | $3,901 | — | — | |
| condos | 2 | 3 | 1,510 | $5,200 | 2026-08-28 | — | |
| condos | 2 | 3 | 1,756 | $14,000 | 2026-08-28 | — | |
| condos | 2 | 2 | 1,373 | $4,600 | 2026-07-24 | — | |
| condos | 2 | 3 | 1,510 | $5,200 | 2026-05-28 | — | |
| condos | 2 | 3 | 1,529 | $13,500 | 2026-08-31 | — | |
| apartment | 2 | 1 | 2,260 | $3,200 | 2026-09-01 | — | |
| apartment | 2 | 1 | 2,260 | $3,200 | 2026-09-01 | — |
Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 6815 Edgewater Dr Apt 201 | condos | 2 | 2 | 1,218 | $550,000 | 2026-08-27 |
| 2678 Tigertail Ave Apt 1404 | condos | 2 | 3 | 1,274 | $1,910,000 | 2026-08-20 |
| 6724176886 | condos | 2 | 2 | 1,882 | $2,150,000 | 2026-08-17 |
| 3 Grove Isle Dr Apt C208 | condos | 2 | 2 | 1,642 | $950,000 | 2026-08-17 |
| 60 Edgewater Dr Apt 3G | condos | 2 | 3 | 2,960 | $2,239,000 | 2026-08-12 |
| 3400 SW 27th Ave Apt 207 | condos | 2 | 3 | 1,560 | $1,690,000 | 2026-08-10 |
| 3400 SW 27th Ave Apt 602 | condos | 2 | 3 | 2,110 | $3,100,000 | 2026-07-24 |
| 2951 S Bayshore Dr Ph 3 | condos | 2 | 2 | 1,040 | $1,200,000 | 2026-07-13 |
| 3044 SW 27th Ave Unit 9 | condos | 2 | 2 | 960 | $610,000 | 2026-06-30 |
| 3034 Oak Ave Unit TH2 | condos | 2 | 2 | 1,360 | $1,725,000 | 2026-06-26 |
| 6855 Edgewater Dr Unit 1DS | condos | 2 | 2 | 1,011 | $630,000 | 2026-06-18 |
| 2650 SW 37th Ave Apt 807 | condos | 2 | 2 | 1,085 | $518,000 | 2026-06-17 |
| 2831 S Bayshore Dr Unit 808 | condos | 2 | 2 | 1,107 | $1,800,000 | 2026-06-16 |
| 3350 SW 27th Ave Apt 1406 | condos | 2 | 3 | 2,028 | $2,300,000 | 2026-06-12 |
| 2655 S Bayshore Dr Apt 805 | condos | 2 | 2 | 897 | $1,650,000 | 2026-06-02 |
| 2678 Tigertail Ave Apt 1504 | condos | 2 | 3 | 1,223 | $1,925,000 | 2026-06-01 |
| 2550 SW 27th Ave Apt 701 | condos | 2 | 2 | 1,120 | $535,000 | 2026-05-28 |
| 3 Grove Isle Dr Unit C1807 | condos | 2 | 2 | 1,882 | $1,650,000 | 2026-05-27 |
| 3350 SW 27th Ave Apt 2203 | condos | 2 | 3 | 1,831 | $1,875,000 | 2026-05-14 |
| 3400 SW 27th Ave Apt 1902 | condos | 2 | 3 | 2,114 | $2,788,000 | 2026-05-14 |
| 3067 Center St Unit 17 | condos | 2 | 2 | 850 | $692,000 | 2026-05-13 |
| 73 Edgewater Dr Apt 3 | condos | 2 | 2 | 1,441 | $670,000 | 2026-05-07 |
| 3400 SW 27th Ave Apt 906 | condos | 2 | 3 | 1,540 | $1,675,000 | 2026-05-04 |
| 1 Grove Isle Dr Unit A303 | condos | 2 | 2 | 1,882 | $1,900,000 | 2026-05-01 |
| 3126 Center St Unit 8 | condos | 2 | 3 | 1,405 | $1,201,000 | 2026-04-22 |
| 2678 Tigertail Ave Apt 1905 | condos | 2 | 2 | 981 | $1,350,000 | 2026-04-20 |
| 2889 McFarlane Rd Unit 1601 | condos | 2 | 3 | 1,098 | $1,010,000 | 2026-04-14 |
| 2768 Day Ave Apt 1 | condos | 2 | 2 | 1,050 | $720,000 | 2026-04-13 |
| 3 Grove Isle Dr Unit C1108 | condos | 2 | 2 | 1,642 | $1,000,000 | 2026-04-08 |
| 3304 Virginia St Apt 6B | condos | 2 | 2 | 744 | $450,000 | 2026-04-01 |
| 2650 SW 37th Ave Apt 901 | condos | 2 | 2 | 1,219 | $530,000 | 2026-03-30 |
| 90 Edgewater Dr Apt 624 | condos | 2 | 3 | 1,570 | $800,000 | 2026-03-30 |
| 3535 Hiawatha Ave Apt 305 | condos | 2 | 3 | 2,710 | $2,500,000 | 2026-03-30 |
| 2593 Trapp Ave Unit 3 | condos | 2 | 2 | 1,200 | $965,000 | 2026-03-25 |
| 2 Grove Isle Dr Unit B404 | condos | 2 | 2 | 1,882 | $950,000 | 2026-03-18 |
| 2575 SW 27th Ave Apt 205 | condos | 2 | 2 | 625 | $275,000 | 2026-03-13 |
| 2951 S Bayshore Dr Unit 907/909 | condos | 2 | 2 | 1,420 | $1,200,000 | 2026-03-10 |
| 2550 SW 27th Ave Ph 1 | condos | 2 | 3 | 1,700 | $665,000 | 2026-03-06 |
| 3 Grove Isle Dr Unit C706 | condos | 2 | 2 | 1,642 | $950,625 | 2026-03-06 |
| 3540 Main Hwy Unit 305 | condos | 2 | 2 | 1,287 | $1,260,000 | 2026-03-03 |
| 3235 McDonald St Unit 5 | condos | 2 | 2 | 1,060 | $875,000 | 2026-02-25 |
| 2778 Day Ave Apt 2 | condos | 2 | 3 | 1,321 | $820,000 | 2026-02-23 |
| 2655 S Bayshore Dr Apt 1409 | condos | 2 | 3 | 905 | $1,850,000 | 2026-02-18 |
| 2645 S Bayshore Dr Apt 1201 | condos | 2 | 3 | 1,910 | $1,875,000 | 2026-02-12 |
| 2645 S Bayshore Dr Apt 1802 | condos | 2 | 3 | 1,910 | $2,095,000 | 2026-02-05 |
| 2 Grove Isle Dr Unit B1708 | condos | 2 | 2 | 1,642 | $1,050,000 | 2026-02-02 |
| 2 Grove Isle Dr Unit B1108 | condos | 2 | 2 | 1,642 | $1,380,000 | 2026-01-30 |
| 2501 Douglas Rd Unit 601 | condos | 2 | 2 | 1,100 | $445,000 | 2026-01-30 |
| 2889 McFarlane Rd Unit 902 | condos | 2 | 2 | 1,098 | $1,225,000 | 2026-01-21 |
| 2678 Tigertail Ave Apt 1110 | condos | 2 | 3 | 1,055 | $1,700,000 | 2026-01-13 |
Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 2984 Mary St | townhomes | 2 | 2 | 1,092 | $899,000 | — |
| 2989 Bird Ave Unit 1 | townhomes | 2 | 2 | 1,040 | $650,000 | — |
| 2843 S Bayshore Dr Apt 6B | condos | 2 | 2 | 1,375 | $1,475,000 | — |
| 2678 Tigertail Ave Apt 1508 | condos | 2 | 3 | 1,207 | $1,960,000 | — |
| 3145 Jackson Ave | townhomes | 2 | 3 | 1,746 | $1,450,000 | — |
| 2690 SW 22nd Ave Apt 301 | condos | 2 | 1 | 906 | $310,000 | — |
| 2924 Day Ave Apt N314 | condos | 2 | 2 | 879 | $639,000 | — |
| 2650 SW 37th Ave Apt 501 | condos | 2 | 2 | 1,219 | $480,000 | — |
10-year hold projection
IRR-8.3%
Equity multiple-0.40x
Total return (10yr)-$330,007
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,543,970 | -$6,425 | -$103,162 | $1,186,198 | $357,772 |
| 2 | $1,590,289 | -$6,194 | -$103,037 | $1,172,303 | $417,986 |
| 3 | $1,637,998 | -$5,945 | -$102,897 | $1,157,454 | $480,544 |
| 4 | $1,687,138 | -$5,678 | -$102,742 | $1,141,586 | $545,552 |
| 5 | $1,737,752 | -$5,391 | -$102,570 | $1,124,627 | $613,125 |
| 6 | $1,789,884 | -$5,085 | -$102,381 | $1,106,504 | $683,380 |
| 7 | $1,843,581 | -$4,758 | -$102,175 | $1,087,137 | $756,444 |
| 8 | $1,898,888 | -$4,409 | -$101,949 | $1,066,439 | $832,449 |
| 9 | $1,955,855 | -$4,037 | -$101,704 | $1,044,320 | $911,535 |
| 10 | $2,014,531 | -$3,641 | -$101,438 | $1,020,683 | $993,848 |
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.