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808 Brickell Key Dr Apt 3901

Miami, FL 33131 · condos · For Sale · 301 days on market
Asking price$4,995,000
5 beds 6 baths 5,097 sqft
View on Realtor.com →
Listed by Brett Eaglstein · COMPASS
Typecondos
Built1999
Price / sqft$980
Est. value (own analysis)$5,580,420
Rent estimate (own analysis)$39,500/mo
HOA$3,498/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2025-11-05
Removed date—
MLSMiamiMLS #A11907846
Coordinates25.76864, -80.18313
Address808 Brickell Key Dr Apt 3901
CityMiami
StateFL
Zip33131
Listing ID5353518371
Sourceus-real-estate-listings, cached 2026-08-25

ZIP market snapshot (33131)

Typical home value (ZHVI)$587,486
Typical rent (ZORI)$3,815/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$4,995,000
Down payment (20.0%)$999,000
Loan amount$3,996,000
Closing costs (5.0%)$249,750
Total cash to close$1,248,750
Income
Rent (comp-derived)$39,500$474,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$474,000
Vacancy rate (assumption) assumption8.0%

$474,000 × 8.0% = $37,920

Effective gross income$36,340$436,080
Operating expenses
Property tax (placeholder 1.9% of price)$7,909$94,905
Insurance (est. scaled by flood & wind risk)$7,326$87,912
HOA dues$3,498$41,976
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$1,975$23,700
Total operating expenses$20,708$248,493
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$436,080
Total operating expenses derived$248,493

$436,080 − $248,493 = $187,587

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$3,996,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$3,996,000 amortized at 6.7% over 30 years = $25,679/mo

CapEx reserve (5.0% of GSR)$1,975$23,700
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$187,587
Annual debt service derived$308,152
Annual CapEx reserve assumption$23,700
Annual PMI assumption$0

($187,587 − $308,152 − $23,700 − $0) ÷ 12 = -$12,022

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$187,587
Purchase price data$4,995,000

$187,587 ÷ $4,995,000 = 3.8%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$144,265
Total cash to close derived$1,248,750

-$144,265 ÷ $1,248,750 = -11.6%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$187,587
Annual debt service derived$308,152

$187,587 ÷ $308,152 = 0.61

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$474,000
Purchase price data$4,995,000

($474,000 ÷ 12) ÷ $4,995,000 = 0.8%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$4,995,000
Gross scheduled rent (annual) comp$474,000

$4,995,000 ÷ $474,000 = 10.5

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$248,493
Effective gross income derived$436,080

$248,493 ÷ $436,080 = 57.0%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$248,493
Annual debt service derived$308,152
Annual PMI assumption$0
Gross scheduled rent (annual) comp$474,000

($248,493 + $308,152 + $0) ÷ $474,000 = 117.4%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos563,575$39,5002026-08-05—
condos563,978$45,0002026-06-29—
condos573,608$18,0002026-06-08—
condos553,420$14,8002026-07-30—
condos574,770$49,0002026-08-31—
condos565,097$29,9502026-03-11—
condos563,663$45,0002026-04-10—
condos574,770$49,0002026-09-02—
condos565,097$29,9502026-03-12—

300 Biscayne Boulevard Way Unit 4201E

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,575
Listed2026-08-05
Days on market—

Asking rent: $39,500

View on Zillow →

300 Biscayne Boulevard Way Apt 2701

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,978
Listed2026-06-29
Days on market—

Asking rent: $45,000

View on Zillow →

900 Brickell Key Blvd Apt 1002

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage3,608
Listed2026-06-08
Days on market—

Asking rent: $18,000

View on Zillow →

1402 Brickell Bay Dr Apt 1601

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 5 ba
Square footage3,420
Listed2026-07-30
Days on market—

Asking rent: $14,800

View on Zillow →

465 Brickell Ave Apt 5701

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage4,770
Listed2026-08-31
Days on market—

Asking rent: $49,000

View on Zillow →

808 Brickell Key Dr Apt 3901

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage5,097
Listed2026-03-11
Days on market—

Asking rent: $29,950

View on Zillow →

300 Biscayne Boulevard Way Unit 2601E

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,663
Listed2026-04-10
Days on market—

Asking rent: $45,000

View on Zillow →

465 Brickell Ave

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage4,770
Listed2026-09-02
Days on market—

Asking rent: $49,000

View on Zillow →

808 Brickell Key Blvd

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage5,097
Listed2026-03-12
Days on market—

Asking rent: $29,950

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
1425 Brickell Ave Unit 44A-Bcondos553,820$3,900,0002026-04-24
300 Biscayne Blvd Way Apt 4401condos563,854$5,100,0002026-04-17
1000 Brickell Plz Unit UPH6201condos597,855$8,600,0002026-03-31

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.

AddressTypeBedsBathsSqftAsking priceDays on market
300 Biscayne Boulevard Way Apt 2701condos563,978$7,400,000—
300 Biscayne Boulevard Way Unit 3304Ccondos563,214$4,475,000—
300 Biscayne Blvd Way Apt 4602condos564,434$9,000,000—
300 Biscayne Blvd Way Apt 1901condos563,560$6,750,000—
465 Brickell Ave Apt 5701condos574,770$12,999,000—
99 SE 5th St Unit UPH7201condos5109,074$31,760,000—
300 Biscayne Blvd Way Apt 3201condos563,994$7,590,000—
900 Brickell Key Blvd Apt 1002condos573,608$3,530,000—

10-year hold projection

IRR2.6%
Equity multiple1.42x
Total return (10yr)$1,180,884
YearProperty valueNOICash flowLoan balanceEquity
1$5,144,850$187,587-$144,265$3,952,675$1,192,175
2$5,299,196$194,457-$137,988$3,906,374$1,392,822
3$5,458,171$201,564-$131,488$3,856,894$1,601,278
4$5,621,917$208,917-$124,758$3,804,016$1,817,901
5$5,790,574$216,522-$117,791$3,747,506$2,043,068
6$5,964,291$224,389-$110,578$3,687,116$2,277,175
7$6,143,220$232,527-$103,111$3,622,580$2,520,640
8$6,327,517$240,943-$95,381$3,553,611$2,773,906
9$6,517,342$249,649-$87,380$3,479,906$3,037,436
10$6,712,862$258,652-$79,099$3,401,140$3,311,722
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.