2122 Fisher Island Dr Unit 2122
Miami Beach, FL 33109 · condos · For Sale · 91 days on market
Asking price$3,750,000
2 beds 3 baths 1,847 sqft
Suggested offer$3,670,816$79,184 above the est. market value of $3,670,816.
View on Realtor.com →Listed by Jonathan Corso · Coldwell Banker Realty
Typecondos
Built1988
Price / sqft$2030
Est. value (own analysis)$3,670,816
Rent estimate (own analysis)$21,450/mo
HOA$3,524/mo
1 / 36
Show every detail
Statusfor_sale
Listed date2026-06-03
Removed date—
MLSMiamiMLS #A12029898
Coordinates25.75819, -80.14165
Address2122 Fisher Island Dr Unit 2122
CityMiami Beach
StateFL
Zip33109
Listing ID5304783476
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 | $3,750,000 |
| Down payment (20.0%) | $750,000 |
| Loan amount | $3,000,000 |
| Closing costs (5.0%) | $187,500 |
| Total cash to close | $937,500 |
| Income | |
| Rent (comp-derived) | $21,450$257,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $19,734$236,808 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $5,938$71,250 |
| Insurance (placeholder 0.8% of price) | $2,500$30,000 |
| HOA dues | $3,524$42,288 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,073$12,870 |
| Total operating expenses | $13,034$156,408 |
| 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) | $1,073$12,870 |
| 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 | 2 | 2 | 1,429 | $16,900 | 2026-05-28 | — | |
| condos | 2 | 2 | 1,429 | $15,500 | 2025-04-25 | — | |
| condos | 2 | 2 | 1,429 | $15,000 | 2024-03-14 | — | |
| condos | 2 | 3 | 1,950 | $18,000 | 2026-07-08 | — | |
| condos | 2 | 2 | 1,875 | $28,000 | 2021-05-13 | — | |
| condos | 2 | 2 | 1,875 | $26,000 | 2024-04-17 | — | |
| condos | 2 | 3 | 1,912 | $24,000 | 2026-05-22 | — | |
| condos | 2 | 2 | 1,429 | $26,000 | 2025-11-21 | — | |
| condos | 2 | 3 | 1,847 | $25,000 | 2025-12-16 | — | |
| condos | 2 | 2 | 1,429 | $15,750 | 2025-04-25 | — | |
| condos | 2 | 2 | 1,875 | $18,900 | 2025-04-07 | — | |
| condos | 2 | 3 | 1,912 | $25,000 | — | — |
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 2245 Fisher Island Dr Unit 3405 | condos | 2 | 3 | 1,912 | $3,800,000 | 2026-07-22 |
| 2225 Fisher Island Dr Unit 3205 | condos | 2 | 3 | 1,912 | $3,603,500 | 2026-06-30 |
| 5233 Fisher Island Dr Unit 5233 | condos | 4 | 5 | 3,790 | $7,400,000 | 2026-05-28 |
| 19236 Fisher Island Dr Unit 19236 | condos | 3 | 3 | 2,049 | $3,000,000 | 2026-05-19 |
| 7085 Fisher Island Dr Unit 7085 | condos | 5 | 7 | 7,630 | $28,000,000 | 2026-05-18 |
| 7433 Fisher Island Dr Unit 7433 | condos | 4 | 5 | 3,849 | $10,237,500 | 2026-04-27 |
| 7133 Fisher Island Dr Unit 7133 | condos | 6 | 6 | 7,025 | $14,425,000 | 2026-04-24 |
| 5322 Fisher Island Dr Unit 5322 | condos | 4 | 5 | 6,300 | $11,350,000 | 2026-04-20 |
| 7937 Fisher Island Dr Unit 7937 | condos | 3 | 4 | 2,530 | $8,550,000 | 2026-03-31 |
| 15512 Fisher Island Dr Unit 15512 | condo_townhome_rowhome_coop | 1 | 1 | 690 | $1,650,000 | 2026-03-27 |
| 2437 Fisher Island Dr Unit 5307 | condos | 3 | 4 | 3,192 | $4,700,000 | 2026-03-25 |
| 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 |
| 4922 Fisher Island Dr Unit 4922 | condos | 3 | 4 | 2,000 | $5,800,000 | 2025-12-31 |
| 5344 Fisher Island Dr Unit 5344 | condos | 3 | 3 | 1,950 | $3,600,000 | 2025-12-22 |
| 19152 Fisher Island Dr Unit 19152 | condos | 3 | 3 | 1,838 | $5,000,000 | 2025-12-10 |
| 2021 Fisher Island Dr Unit 2021 | condos | 3 | 4 | 2,744 | $4,300,000 | 2025-11-05 |
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 |
|---|---|---|---|---|---|---|
| 5222 Fisher Island Dr Unit 5222 | condos | 2 | 3 | 1,950 | $5,900,000 | — |
| 5235 Fisher Island Dr Unit 5235 | condos | 2 | 3 | 1,950 | $3,890,000 | — |
| 2425 Fisher Island Dr Unit 5205 | condos | 2 | 3 | 1,912 | $3,790,000 | — |
10-year hold projection
IRR-1.6%
Equity multiple0.73x
Total return (10yr)$241,074
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $3,862,500 | $80,400 | -$163,816 | $2,967,473 | $895,027 |
| 2 | $3,978,375 | $83,594 | -$160,943 | $2,932,713 | $1,045,662 |
| 3 | $4,097,726 | $86,903 | -$157,964 | $2,895,566 | $1,202,161 |
| 4 | $4,220,658 | $90,332 | -$154,873 | $2,855,867 | $1,364,791 |
| 5 | $4,347,278 | $93,884 | -$151,667 | $2,813,443 | $1,533,835 |
| 6 | $4,477,696 | $97,564 | -$148,343 | $2,768,105 | $1,709,591 |
| 7 | $4,612,027 | $101,376 | -$144,895 | $2,719,654 | $1,892,373 |
| 8 | $4,750,388 | $105,324 | -$141,320 | $2,667,876 | $2,082,512 |
| 9 | $4,892,899 | $109,413 | -$137,613 | $2,612,542 | $2,280,358 |
| 10 | $5,039,686 | $113,649 | -$133,770 | $2,553,408 | $2,486,279 |
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.