8101 Biscayne Blvd Unit R506
Miami, FL 33138 · condos · For Sale · 84 days on market
Asking price$415,000
0 beds 1 baths 879 sqft
Listed by Chester Dowdy · RE/MAX Advance Realty II
Typecondos
Built1968
Price / sqft$472
Est. value (own analysis)$451,968
Rent estimate (own analysis)$1,500/mo
HOA$715/mo
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Statusfor_sale
Listed date2026-06-10
Removed date—
MLSMiamiMLS #A12034944
Coordinates25.84979, -80.18401
Address8101 Biscayne Blvd Unit R506
CityMiami
StateFL
Zip33138
Listing ID5549472265
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33138)
Typical home value (ZHVI)$806,988
Typical rent (ZORI)$2,367/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 | $415,000 |
| Down payment (20.0%) | $83,000 |
| Loan amount | $332,000 |
| Closing costs (5.0%) | $20,750 |
| Total cash to close | $103,750 |
| Income | |
| Rent (comp-derived) | $1,500$18,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,380$16,560 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $657$7,885 |
| Insurance (placeholder 0.8% of price) | $277$3,320 |
| HOA dues | $715$8,580 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $75$900 |
| Total operating expenses | $1,724$20,685 |
| 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) | $75$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 |
|---|---|---|---|---|---|---|---|
| apartment | 0 | 1 | 618 | $2,200 | 2026-02-05 | — | |
| apartment | 0 | 1 | 650 | $1,495 | 2026-03-31 | — | |
| apartment | 0 | 1 | 698 | $1,500 | — | — |
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 |
|---|---|---|---|---|---|---|
| 8101 Biscayne Blvd Unit R509 | condos | 0 | 1 | 1,128 | $580,000 | 2026-05-20 |
| 8101 Biscayne Blvd Unit R513 | condos | 0 | 1 | 534 | $290,000 | 2026-05-15 |
| 880 NE 69th St Apt 14H | condos | 0 | 1 | 580 | $180,000 | 2026-03-25 |
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 |
|---|---|---|---|---|---|---|
| 8101 Biscayne Blvd Unit R410 | condos | 0 | 1 | 533 | $315,000 | — |
| 544 NE 62nd St Unit 544-8 | condos | 0 | 1 | 338 | $155,000 | — |
| 700 NE 63rd St Apt D506 | condos | 0 | 1 | 571 | $244,900 | — |
| 770 NE 69th St Unit 1C | condos | 0 | 1 | 470 | $240,000 | — |
| 7645 NE 1st Ave | single_family | 0 | — | 1,557 | $474,900 | — |
| 700 NE 63rd St Apt D606 | condos | 0 | 1 | 571 | $225,000 | — |
| 770 NE 69th St Unit 1E | condos | 0 | 1 | 470 | $159,990 | — |
| 645 NE 77th St Apt 16 | condos | 0 | 1 | 360 | $159,900 | — |
10-year hold projection
IRR-9.6%
Equity multiple-0.64x
Total return (10yr)-$115,858
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $427,450 | -$4,125 | -$30,627 | $328,400 | $99,050 |
| 2 | $440,274 | -$4,145 | -$30,670 | $324,554 | $115,720 |
| 3 | $453,482 | -$4,164 | -$30,711 | $320,443 | $133,039 |
| 4 | $467,086 | -$4,180 | -$30,751 | $316,049 | $151,037 |
| 5 | $481,099 | -$4,194 | -$30,790 | $311,354 | $169,744 |
| 6 | $495,532 | -$4,206 | -$30,826 | $306,337 | $189,195 |
| 7 | $510,398 | -$4,215 | -$30,861 | $300,975 | $209,422 |
| 8 | $525,710 | -$4,221 | -$30,893 | $295,245 | $230,464 |
| 9 | $541,481 | -$4,225 | -$30,924 | $289,122 | $252,359 |
| 10 | $557,725 | -$4,226 | -$30,952 | $282,577 | $275,148 |
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.