8777 Collins Ave Apt 303
Surfside, FL 33154 · condos · For Sale · 411 days on market
Asking price$15,000,000
4 beds 5 baths 5,088 sqft
Suggested offer$5,735,550$9,264,450 above the est. market value of $5,735,550.
View on Realtor.com →Listed by Tara West · Douglas Elliman - 5555 Biscayne Blvd
Typecondos
Built2029
Price / sqft$2948
Est. value (own analysis)$5,735,550
Rent estimate (own analysis)$85,000/mo
HOA$18,615/mo
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Statusfor_sale
Listed date2025-07-18
Removed date—
MLSMiamiMLS #A11837441
Coordinates25.87290, -80.12073
Address8777 Collins Ave Apt 303
CitySurfside
StateFL
Zip33154
Listing ID5602197155
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33154)
Typical home value (ZHVI)$1,230,561
Typical rent (ZORI)$4,738/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 | $15,000,000 |
| Down payment (20.0%) | $3,000,000 |
| Loan amount | $12,000,000 |
| Closing costs (5.0%) | $750,000 |
| Total cash to close | $3,750,000 |
| Income | |
| Rent (comp-derived) | $85,000$1,020,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $78,200$938,400 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $23,750$285,000 |
| Insurance (placeholder 0.8% of price) | $10,000$120,000 |
| HOA dues | $18,615$223,380 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $4,250$51,000 |
| Total operating expenses | $56,615$679,380 |
| 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) | $4,250$51,000 |
| 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 | 4,798 | $85,000 | 2026-06-18 | — | |
| condos | 4 | 5 | 3,337 | $55,000 | 2026-07-06 | — | |
| condos | 4 | 4 | 4,798 | $85,000 | 2026-09-02 | — |
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 |
|---|---|---|---|---|---|---|
| 9001 Collins Ave Unit S1003 | condos | 4 | 6 | 4,235 | $30,250,000 | 2026-08-17 |
| 1135 103rd St Apt 606 | condos | 4 | 5 | 3,523 | $4,200,000 | 2026-06-05 |
| 9111 Collins Ave Unit N721 | condos | 4 | 4 | 5,321 | $27,319,500 | 2026-05-29 |
| 1174 98th St Unit 1174 | condos | 4 | 3 | 2,541 | $1,250,000 | 2026-04-08 |
| 8701 Collins Ave Unit 1601 | condos | 4 | 4 | 3,525 | $14,000,000 | 2026-03-31 |
| 1135 103rd St Ph 3 | condos | 4 | 5 | 4,401 | $7,000,000 | 2026-03-11 |
| 10155 Collins Ave Apt 606 | condos | 4 | 4 | 2,540 | $2,350,000 | 2026-02-25 |
| 9940 W Bay Harbor Dr Unit 7G-N | condos | 4 | 5 | 3,717 | $3,400,000 | 2026-02-13 |
| 9751 E Bay Harbor Dr Unit PHSB1604 | condos | 4 | 4 | 3,327 | $2,100,000 | 2026-02-06 |
| 9001 Collins Ave Unit S305 | condos | 4 | 6 | 4,323 | $17,000,000 | 2026-01-30 |
| 10225 Collins Renovated Ave Unit 604 | condos | 4 | 4 | 2,918 | $3,100,000 | 2025-12-31 |
| 10175 Collins Ave Unit 1707/1708 | condos | 4 | 6 | 3,934 | $2,450,000 | 2025-12-18 |
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 |
|---|---|---|---|---|---|---|
| 8819 Dickens Ave | single_family | 4 | 3 | 1,469 | $2,085,000 | — |
| 9705 Collins Ave Unit 501N | condos | 4 | 4 | 3,524 | $6,250,000 | — |
| 8950 Harding Ave | single_family | 4 | 3 | 1,917 | $1,599,000 | — |
| 9156 Froude Ave | single_family | 4 | 2 | 1,967 | $1,595,000 | — |
| 1000 99th St Unit 14 | townhomes | 4 | 5 | 2,519 | $1,750,000 | — |
| 9450 E Broadview Dr | single_family | 4 | 4 | 3,435 | $4,700,000 | — |
| 9172 Carlyle Ave | single_family | 4 | 3 | 2,239 | $3,495,000 | — |
| 10155 Collins Ave Apt 202 | condos | 4 | 5 | 3,300 | $5,375,000 | — |
10-year hold projection
IRR-2.7%
Equity multiple0.55x
Total return (10yr)$266,264
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $15,450,000 | $259,020 | -$717,363 | $11,869,893 | $3,580,107 |
| 2 | $15,913,500 | $270,188 | -$707,470 | $11,730,852 | $4,182,648 |
| 3 | $16,390,905 | $281,775 | -$697,190 | $11,582,263 | $4,808,642 |
| 4 | $16,882,632 | $293,797 | -$686,507 | $11,423,470 | $5,459,162 |
| 5 | $17,389,111 | $306,269 | -$675,408 | $11,253,772 | $6,135,339 |
| 6 | $17,910,784 | $319,207 | -$663,878 | $11,072,421 | $6,838,363 |
| 7 | $18,448,108 | $332,626 | -$651,901 | $10,878,617 | $7,569,491 |
| 8 | $19,001,551 | $346,544 | -$639,461 | $10,671,504 | $8,330,048 |
| 9 | $19,571,598 | $360,978 | -$626,543 | $10,450,168 | $9,121,430 |
| 10 | $20,158,746 | $375,947 | -$613,128 | $10,213,632 | $9,945,113 |
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.