2675 S Bayshore Dr Unit 602S
Miami, FL 33133 · condos · For Sale · 15 days on market
Asking price$7,800,000
5 beds 6 baths 4,085 sqft
Listed by David Vazquez · Douglas Elliman
Typecondos
Built2016
Price / sqft$1909
Est. value (own analysis)$8,437,077
Rent estimate (own analysis)$29,950/mo
HOA$6,395/mo
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12072551
Coordinates25.73038, -80.23683
Address2675 S Bayshore Dr Unit 602S
CityMiami
StateFL
Zip33133
Listing ID5040465039
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 | $7,800,000 |
| Down payment (20.0%) | $1,560,000 |
| Loan amount | $6,240,000 |
| Closing costs (5.0%) | $390,000 |
| Total cash to close | $1,950,000 |
| Income | |
| Rent (comp-derived) | $29,950$359,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,554$330,648 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $12,350$148,200 |
| Insurance (est. scaled by flood & wind risk) | $8,320$99,840 |
| HOA dues | $6,395$76,740 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,498$17,970 |
| Total operating expenses | $28,563$342,750 |
| 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) | $1,498$17,970 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 5 | 3 | 4,344 | $4,150 | 2026-08-13 | — | |
| condos | 5 | 6 | 3,575 | $39,500 | 2026-08-05 | — | |
| condos | 5 | 6 | 3,978 | $45,000 | 2026-06-29 | — | |
| condos | 5 | 7 | 3,608 | $18,000 | 2026-06-08 | — | |
| condos | 5 | 5 | 3,420 | $14,800 | 2026-07-30 | — | |
| condos | 5 | 6 | 3,004 | $12,550 | 2026-04-15 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-08-31 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-11 | — | |
| condos | 5 | 6 | 3,663 | $45,000 | 2026-04-10 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-09-02 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-12 | — |
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 |
|---|---|---|---|---|---|---|
| 2655 S Bayshore Dr Unit Lph | condos | 5 | 6 | 6,611 | $16,150,000 | 2026-07-07 |
| 2000 S Bayshore Dr Apt 47 | condo_townhome_rowhome_coop | 5 | 4 | 3,725 | $3,100,000 | 2026-04-14 |
| 2669 S Bayshore Dr Ph 1N | condos | 5 | 6 | 4,986 | $11,500,000 | 2026-04-14 |
| 2675 S Bayshore Dr Unit 1602S | condos | 5 | 6 | 3,607 | $7,000,000 | 2026-03-13 |
| 2627 S Bayshore Dr Apt 3101 | condos | 5 | 8 | 6,920 | $13,625,000 | 2026-01-15 |
| 2821 S Bayshore Dr Unit 20AB | condos | 5 | 7 | 6,476 | $14,000,000 | 2025-12-01 |
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 |
|---|---|---|---|---|---|---|
| 2627 S Bayshore Dr Apt 3201 | condos | 5 | 8 | 7,061 | $20,900,000 | — |
| 3460 S Moorings Way | single_family | 5 | 7 | 6,720 | $10,950,000 | — |
| 3341 Florida Ave | single_family | 5 | 4 | 3,200 | $3,480,000 | — |
| 3400 S Moorings Way | single_family | 5 | 8 | 6,768 | $9,750,000 | — |
| 3170 SW 26th St | multi_family | 5 | 3 | 2,287 | $930,000 | — |
| 3579 Avocado Ave | single_family | 5 | 6 | 4,651 | $6,950,000 | — |
| 291 Shore Dr E | single_family | 5 | 4 | 2,285 | $3,975,000 | — |
| 8 Pinta Rd | single_family | 5 | 4 | 3,682 | $2,999,000 | — |
10-year hold projection
IRR-7.5%
Equity multiple-0.27x
Total return (10yr)-$1,451,307
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $8,034,000 | -$12,102 | -$511,271 | $6,172,345 | $1,861,655 |
| 2 | $8,275,020 | -$10,751 | -$510,370 | $6,100,043 | $2,174,977 |
| 3 | $8,523,271 | -$9,317 | -$509,396 | $6,022,777 | $2,500,494 |
| 4 | $8,778,969 | -$7,796 | -$508,347 | $5,940,204 | $2,838,764 |
| 5 | $9,042,338 | -$6,185 | -$507,219 | $5,851,961 | $3,190,376 |
| 6 | $9,313,608 | -$4,479 | -$506,009 | $5,757,659 | $3,555,949 |
| 7 | $9,593,016 | -$2,674 | -$504,713 | $5,656,881 | $3,936,135 |
| 8 | $9,880,807 | -$767 | -$503,326 | $5,549,182 | $4,331,625 |
| 9 | $10,177,231 | $1,247 | -$501,846 | $5,434,087 | $4,743,144 |
| 10 | $10,482,548 | $3,373 | -$500,268 | $5,311,089 | $5,171,459 |
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.