7921 Fisher Island Dr Unit 7921
Miami Beach, FL 33109 · condos · For Sale · 362 days on market
Asking price$10,800,000
4 beds 4 baths 3,580 sqft
Suggested offer$6,989,974$3,810,026 above the est. market value of $6,989,974.
View on Realtor.com →Listed by Karla Abaunza · Luxury Living Realty
Typecondos
Built1989
Price / sqft$3017
Est. value (own analysis)$6,989,974
Rent estimate (own analysis)$46,500/mo
HOA$5,375/mo
Wind10/10Extreme$Heat10/10ExtremeFlood7/10severe$Air2/10MinorWildfire1/10Minimal
1 / 55
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Statusfor_sale
Listed date2025-09-05
Removed date—
MLSMiamiMLS #A11873162
Coordinates25.75892, -80.13751
Address7921 Fisher Island Dr Unit 7921
CityMiami Beach
StateFL
Zip33109
Listing ID5274486265
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33109)
Median sale price$4,500,000
Median days on market (sale)125
Active sale listings21
Median rent$9,093/mo
Active rental listings1
Real ZIP-wide statistics from RentCast, as of 2026-09 (fetched 2026-09-03) — this is the whole ZIP's market, not specific to this property. Re-analyzing spends one of the account's 50 free monthly lookups. Our own log shows at least 6 of the 50 free monthly RentCast requests used — that only counts calls made through this app, so it can undercount. RentCast's own account dashboard has the real total.
Re-analyze ZIP 33109 (≥6 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $10,800,000 |
| Down payment (20.0%) | $2,160,000 |
| Loan amount | $8,640,000 |
| Closing costs (5.0%) | $540,000 |
| Total cash to close | $2,700,000 |
| Income | |
| Rent (comp-derived) | $46,500$558,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $42,780$513,360 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $17,100$205,200 |
| Insurance (est. scaled by flood & wind risk) | $14,040$168,480 |
| HOA dues | $5,375$64,500 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $2,325$27,900 |
| Total operating expenses | $38,840$466,080 |
| 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) | $2,325$27,900 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 4 | 5 | 2,858 | $45,000 | 2026-03-14 | — | |
| condos | 4 | 5 | 4,010 | $48,000 | 2026-02-26 | — | |
| condos | 4 | 5 | 2,744 | $45,000 | 2025-09-17 | — | |
| condos | 4 | 5 | 3,690 | $50,000 | 2026-06-25 | — |
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 |
|---|---|---|---|---|---|---|
| 5233 Fisher Island Dr Unit 5233 | condos | 4 | 5 | 3,790 | $7,400,000 | 2026-05-28 |
| 7433 Fisher Island Dr Unit 7433 | condos | 4 | 5 | 3,849 | $10,237,500 | 2026-04-27 |
| 5322 Fisher Island Dr Unit 5322 | condos | 4 | 5 | 6,300 | $11,350,000 | 2026-04-20 |
| 6800 Fisher Island Dr Unit 6823 | condos | 4 | 5 | 4,904 | $15,000,000 | 2026-02-16 |
| 2213 Fisher Island Dr Unit 3103 | condos | 4 | 4 | 3,192 | $5,350,000 | 2026-01-05 |
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 |
|---|---|---|---|---|---|---|
| 7431 Fisher Island Dr Unit 7431 | condos | 4 | 5 | 4,086 | $11,950,000 | — |
| 5134 Fisher Island Dr Unit 5134 | condos | 4 | 5 | 4,109 | $10,980,000 | — |
| condos | 4 | 5 | 4,109 | $11,900,000 | — | |
| 7124 Fisher Island Dr Unit 7124 | condos | 4 | 5 | 3,690 | $10,900,000 | — |
10-year hold projection
IRR-6.0%
Equity multiple-0.01x
Total return (10yr)-$1,311,424
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $11,124,000 | $47,280 | -$646,896 | $8,546,323 | $2,577,677 |
| 2 | $11,457,720 | $51,029 | -$643,844 | $8,446,213 | $3,011,507 |
| 3 | $11,801,452 | $54,948 | -$640,640 | $8,339,229 | $3,462,223 |
| 4 | $12,155,495 | $59,045 | -$637,276 | $8,224,898 | $3,930,597 |
| 5 | $12,520,160 | $63,326 | -$633,746 | $8,102,716 | $4,417,444 |
| 6 | $12,895,765 | $67,798 | -$630,044 | $7,972,143 | $4,923,622 |
| 7 | $13,282,638 | $72,469 | -$626,162 | $7,832,604 | $5,450,034 |
| 8 | $13,681,117 | $77,345 | -$622,095 | $7,683,482 | $5,997,635 |
| 9 | $14,091,550 | $82,436 | -$617,833 | $7,524,120 | $6,567,430 |
| 10 | $14,514,297 | $87,748 | -$613,371 | $7,353,815 | $7,160,482 |
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.