60 Edgewater Dr Unit TS-D
Coral Gables, FL 33133 · condos · For Sale · 71 days on market
Asking price$12,750,000
4 beds 8 baths 6,974 sqft
Listed by Judy Zeder · Coldwell Banker Realty
Typecondos
Built2003
Price / sqft$1828
Est. value (own analysis)$15,034,801
Rent estimate (own analysis)$45,000/mo
HOA$6,351/mo
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Statusfor_sale
Listed date2026-06-23
Removed date—
MLSMiamiMLS #A12032083
Coordinates25.70648, -80.25268
Address60 Edgewater Dr Unit TS-D
CityCoral Gables
StateFL
Zip33133
Listing ID5493976887
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 | $12,750,000 |
| Down payment (20.0%) | $2,550,000 |
| Loan amount | $10,200,000 |
| Closing costs (5.0%) | $637,500 |
| Total cash to close | $3,187,500 |
| Income | |
| Rent (comp-derived) | $45,000$540,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $41,400$496,800 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $20,188$242,250 |
| Insurance (placeholder 0.8% of price) | $8,500$102,000 |
| HOA dues | $6,351$76,212 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $2,250$27,000 |
| Total operating expenses | $37,289$447,462 |
| 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) | $2,250$27,000 |
| 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 | 4 | 2,558 | $45,000 | 2026-06-11 | — | |
| apartment | 4 | 2 | 3,860 | $4,500 | 2026-05-06 | — | |
| apartment | 4 | 2 | 2,027 | $3,600 | 2026-07-29 | — | |
| apartment | 4 | 5 | 4,842 | $48,000 | — | — | |
| condos | 4 | 5 | 3,834 | $50,000 | — | — |
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 |
|---|---|---|---|---|---|---|
| 3581 E Glencoe St Unit 501 | condos | 4 | 6 | 2,988 | $5,500,000 | 2026-07-13 |
| 2655 S Bayshore Dr Apt 1401 | condos | 4 | 4 | 4,812 | $12,512,819 | 2026-06-26 |
| 2811 S Bayshore Dr Unit 18AB | condos | 4 | 5 | 4,786 | $16,740,000 | 2026-06-01 |
| 3535 Hiawatha Ave Apt 403 | condos | 4 | 6 | 4,453 | $5,750,000 | 2026-05-08 |
| 5 Grove Isle Dr Apt M401 | condos | 4 | 5 | 3,904 | $9,400,000 | 2026-03-27 |
| 2821 S Bayshore Dr Unit 19B | condos | 4 | 4 | 2,532 | $4,900,000 | 2026-03-20 |
| 2821 S Bayshore Dr Unit 5A | condos | 4 | 6 | 3,233 | $7,000,000 | 2026-02-27 |
| 5 Grove Isle Dr Ph S04 | condos | 4 | 6 | 5,885 | $19,800,000 | 2026-02-24 |
| 3203 Shipping Ave | condos | 4 | 4 | 2,665 | $2,640,000 | 2025-12-29 |
| 2811 S Bayshore Dr Unit 4A | condos | 4 | 6 | 3,247 | $7,000,000 | 2025-10-31 |
| 2821 S Bayshore Dr Unit 16A | condos | 4 | 5 | 3,233 | $6,600,000 | 2025-10-15 |
| 2655 S Bayshore Dr Apt 1601 | condos | 4 | 4 | 2,715 | $6,400,000 | 2025-10-09 |
| 2669 S Bayshore Dr Unit 801N | condos | 4 | 5 | 2,896 | $5,500,000 | 2025-09-15 |
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 |
|---|---|---|---|---|---|---|
| 72 Shore Dr W | single_family | 4 | 5 | 3,328 | $4,200,000 | — |
| 4110 Battersea Rd | single_family | 4 | 4 | 2,787 | $2,590,000 | — |
| 3794 Irvington Ave | single_family | 4 | 2 | 1,796 | $2,085,000 | — |
| 4120 Lybyer Ave | single_family | 4 | 3 | 1,981 | $2,750,000 | — |
| 2927 SW 36th Ave | townhomes | 4 | 6 | — | $1,685,000 | — |
| 5 Grove Isle Dr Apt M502 | condos | 4 | 5 | 3,677 | $9,995,000 | — |
| 3372 Charles Ave | single_family | 4 | 5 | 3,026 | $4,160,000 | — |
| 3352 Charles Ave | single_family | 4 | 5 | 3,150 | $4,225,000 | — |
10-year hold projection
IRR-6.1%
Equity multiple-0.02x
Total return (10yr)-$1,582,731
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $13,132,500 | $49,338 | -$764,237 | $10,089,409 | $3,043,091 |
| 2 | $13,526,475 | $53,055 | -$761,195 | $9,971,224 | $3,555,251 |
| 3 | $13,932,269 | $56,940 | -$758,002 | $9,844,923 | $4,087,346 |
| 4 | $14,350,237 | $60,999 | -$754,652 | $9,709,949 | $4,640,288 |
| 5 | $14,780,744 | $65,238 | -$751,140 | $9,565,706 | $5,215,038 |
| 6 | $15,224,167 | $69,665 | -$747,458 | $9,411,558 | $5,812,609 |
| 7 | $15,680,892 | $74,286 | -$743,601 | $9,246,824 | $6,434,068 |
| 8 | $16,151,319 | $79,110 | -$739,560 | $9,070,777 | $7,080,541 |
| 9 | $16,635,858 | $84,142 | -$735,330 | $8,882,642 | $7,753,216 |
| 10 | $17,134,934 | $89,393 | -$730,902 | $8,681,587 | $8,453,347 |
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.