2236 Fisher Island Dr Unit 3306
Miami Beach, FL 33109 · condos · For Sale · 303 days on market
Asking price$5,200,000
3 beds 4 baths 2,744 sqft
Suggested offer$5,065,846$134,154 above the est. market value of $5,065,846.
View on Realtor.com →Listed by Karla Abaunza · Luxury Living Realty
Typecondos
Built1986
Price / sqft$1895
Est. value (own analysis)$5,065,846
Rent estimate (own analysis)$29,500/mo
HOA$5,375/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
1 / 53
Show every detail
Statusfor_sale
Listed date2025-11-03
Removed date—
MLSMiamiMLS #A11907363
Coordinates25.75893, -80.14313
Address2236 Fisher Island Dr Unit 3306
CityMiami Beach
StateFL
Zip33109
Listing ID5380209864
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33109)
No market data analyzed yet for ZIP 33109.
Analyze ZIP 33109 (≥3 of 50 per our log, shared with every property in this ZIP)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $5,200,000 |
| Down payment (20.0%) | $1,040,000 |
| Loan amount | $4,160,000 |
| Closing costs (5.0%) | $260,000 |
| Total cash to close | $1,300,000 |
| Income | |
| Rent (comp-derived) | $29,500$354,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,140$325,680 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $8,233$98,800 |
| Insurance (est. scaled by flood & wind risk) | $7,627$91,520 |
| HOA dues | $5,375$64,500 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,475$17,700 |
| Total operating expenses | $22,710$272,520 |
| 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) | $1,475$17,700 |
| 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 | 3 | 2 | 1,838 | $30,000 | 2021-10-19 | — | |
| condos | 3 | 4 | 2,234 | $40,000 | 2024-03-14 | — | |
| condos | 3 | 2 | 1,838 | $30,000 | 2022-05-03 | — | |
| condos | 3 | 2 | 1,875 | $29,000 | 2024-02-17 | — | |
| condos | 3 | 4 | 2,049 | $18,900 | 2025-04-07 | — | |
| condos | 3 | 4 | 2,744 | $20,000 | 2026-07-09 | — | |
| condos | 3 | 4 | 3,140 | $20,000 | 2025-02-28 | — | |
| condos | 3 | 4 | 3,140 | $29,000 | 2026-02-24 | — | |
| condos | 3 | 4 | 3,192 | $40,000 | 2026-06-18 | — | |
| condos | 3 | 3 | 2,049 | $40,000 | 2026-08-10 | — | |
| condos | 3 | 3 | 2,034 | $40,000 | 2025-06-02 | — | |
| condos | 3 | 3 | 2,049 | $28,000 | 2021-04-24 | — | |
| condos | 3 | 3 | 2,049 | $32,000 | 2026-06-09 | — | |
| condos | 3 | 4 | 2,744 | $28,000 | 2026-04-10 | — | |
| apartment | 3 | 4 | 2,744 | $30,000 | 2026-04-06 | — | |
| condos | 3 | 3 | 1,875 | $40,000 | 2026-06-17 | — | |
| condos | 3 | 3 | 2,049 | $27,000 | 2025-11-08 | — | |
| condos | 3 | 3 | 2,034 | $29,000 | 2024-06-30 | — |
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 |
|---|---|---|---|---|---|---|
| 19236 Fisher Island Dr Unit 19236 | condos | 3 | 3 | 2,049 | $3,000,000 | 2026-05-19 |
| 7937 Fisher Island Dr Unit 7937 | condos | 3 | 4 | 2,530 | $8,550,000 | 2026-03-31 |
| 2437 Fisher Island Dr Unit 5307 | condos | 3 | 4 | 3,192 | $4,700,000 | 2026-03-25 |
| 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 |
|---|---|---|---|---|---|---|
| 2443 Fisher Island Dr Unit 5403 | condos | 3 | 4 | 3,227 | $5,250,000 | — |
| 2134 Fisher Island Dr Unit 2134 | condos | 3 | 4 | 2,744 | $4,500,000 | — |
| 2133 Fisher Island Dr Unit 2133 | condos | 3 | 4 | 1,847 | $3,789,000 | — |
| 2521 Fisher Island Dr Unit 6201 | condos | 3 | 4 | 2,744 | $7,750,000 | — |
| 2432 Fisher Island Dr Unit 5302 | condos | 3 | 4 | 2,234 | $3,900,000 | — |
| 5266 Fisher Island Dr Unit 5266 | condos | 3 | 4 | 2,740 | $5,400,000 | — |
| 19216 Fisher Island Dr Unit 19216 | condos | 3 | 3 | 2,049 | $4,400,000 | — |
| 6 Fisher Island Dr Unit 305 | condos | 3 | 5 | 3,872 | $17,100,000 | — |
10-year hold projection
IRR-4.6%
Equity multiple0.23x
Total return (10yr)-$318,244
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,356,000 | $53,160 | -$285,339 | $4,114,896 | $1,241,104 |
| 2 | $5,516,680 | $56,117 | -$282,824 | $4,066,695 | $1,449,985 |
| 3 | $5,682,180 | $59,198 | -$280,198 | $4,015,184 | $1,666,996 |
| 4 | $5,852,646 | $62,405 | -$277,455 | $3,960,136 | $1,892,510 |
| 5 | $6,028,225 | $65,745 | -$274,592 | $3,901,308 | $2,126,918 |
| 6 | $6,209,072 | $69,221 | -$271,604 | $3,838,439 | $2,370,633 |
| 7 | $6,395,344 | $72,839 | -$268,487 | $3,771,254 | $2,624,090 |
| 8 | $6,587,204 | $76,605 | -$265,234 | $3,699,455 | $2,887,750 |
| 9 | $6,784,821 | $80,523 | -$261,843 | $3,622,725 | $3,162,096 |
| 10 | $6,988,365 | $84,598 | -$258,306 | $3,540,726 | $3,447,639 |
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.