642 Michigan Ave Apt 6
Miami Beach, FL 33139 · condos · For Sale · 803 days on market
Asking price$140,000
0 beds 1 baths 290 sqft
Listed by GABRIELA GARCIA-VEIGA · Golod Group LLC
Typecondos
Built1925
Price / sqft$483
Est. value (own analysis)$143,632
Rent estimate (own analysis)$1,800/mo
HOA$504/mo
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Statusfor_sale
Listed date2024-06-21
Removed date—
MLSMiamiMLS #A11611337
Coordinates25.77657, -80.13869
Address642 Michigan Ave Apt 6
CityMiami Beach
StateFL
Zip33139
Listing ID5648864998
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $140,000 |
| Down payment (20.0%) | $28,000 |
| Loan amount | $112,000 |
| Closing costs (5.0%) | $7,000 |
| Total cash to close | $35,000 |
| Income | |
| Rent (comp-derived) | $1,800$21,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,656$19,872 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $222$2,660 |
| Insurance (placeholder 0.8% of price) | $93$1,120 |
| HOA dues | $504$6,048 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $90$1,080 |
| Total operating expenses | $909$10,908 |
| 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) | $90$1,080 |
| 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 | 0 | 1 | 200 | $1,425 | 2026-08-26 | — | |
| condos | 0 | 1 | 234 | $1,800 | 2026-08-21 | — | |
| condos | 0 | 1 | 370 | $1,690 | 2026-08-19 | — | |
| condos | 0 | 1 | 370 | $1,750 | 2026-05-01 | — | |
| condos | 0 | 1 | 364 | $1,800 | 2026-05-08 | — | |
| condos | 0 | 1 | 325 | $1,600 | 2026-05-13 | — | |
| condos | 0 | 1 | 370 | $1,800 | 2026-05-05 | — | |
| condos | 0 | 1 | 370 | $1,800 | 2026-07-09 | — | |
| condos | 0 | 1 | 300 | $2,300 | 2026-07-30 | — | |
| condos | 0 | 1 | 380 | $1,700 | 2026-06-05 | — | |
| condos | 0 | 1 | 370 | $1,800 | 2026-07-31 | — | |
| condos | 0 | 1 | 390 | $2,500 | 2026-06-27 | — | |
| condos | 0 | 1 | 372 | $1,800 | 2026-06-02 | — | |
| apartment | 0 | 1 | 320 | $1,800 | 2026-05-14 | — | |
| condos | 0 | 1 | 380 | $1,650 | 2026-07-20 | — | |
| condos | 0 | 1 | 376 | $1,800 | 2026-08-04 | — | |
| condos | 0 | 1 | 302 | $1,999 | 2026-04-23 | — | |
| condos | 0 | 1 | 364 | $1,800 | 2026-07-07 | — | |
| condos | 0 | 1 | 370 | $1,850 | 2026-08-11 | — | |
| condos | 0 | 1 | 390 | $1,895 | 2026-06-22 | — | |
| condos | 0 | 1 | 380 | $2,000 | 2026-04-07 | — | |
| condos | 0 | 1 | 367 | $2,350 | 2026-05-26 | — | |
| apartment | 0 | 1 | 350 | $1,600 | 2026-01-14 | — | |
| apartment | 0 | 1 | 350 | $1,500 | 2026-07-08 | — | |
| apartment | 0 | — | 350 | $1,500 | 2026-07-08 | — |
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 |
|---|---|---|---|---|---|---|
| 1000 West Ave Apt 218 | condos | 0 | 1 | 543 | $342,000 | 2026-08-24 |
| 1340 Lincoln Rd Apt 400 | condos | 0 | 1 | 440 | $195,000 | 2026-08-20 |
| 1500 Bay Rd Unit 1210S | condos | 0 | 1 | 472 | $275,000 | 2026-08-17 |
| 1050 Pennsylvania Ave Apt 29 | condos | 0 | 1 | 380 | $165,000 | 2026-08-03 |
| 1235 Euclid Ave Apt 16 | condos | 0 | 1 | 430 | $188,000 | 2026-07-31 |
| 900 Euclid Ave Apt 12 | condos | 0 | 1 | 387 | $167,500 | 2026-07-31 |
| 1100 West Ave Unit 807 | condos | 0 | 1 | 508 | $242,000 | 2026-07-30 |
| 1100 West Ave Unit 918 | condos | 0 | 1 | 530 | $290,000 | 2026-07-30 |
| 763 Pennsylvania Ave Unit 116 | condos | 0 | 1 | 270 | $155,000 | 2026-07-29 |
| 800 West Ave Apt 532 | condos | 0 | 1 | 540 | $185,000 | 2026-07-28 |
| 101 Ocean Dr Unit 1003 | condos | 0 | 1 | 400 | $625,000 | 2026-07-15 |
| 750 Espanola Way Apt 9 | condos | 0 | 1 | 580 | $240,000 | 2026-06-29 |
| 736 12th St Apt 7 | condos | 0 | 1 | 520 | $195,000 | 2026-06-26 |
| 1052 Ocean Dr Unit C407 | condos | 0 | 1 | 389 | $290,000 | 2026-06-25 |
| 800 West Ave Apt 605 | condos | 0 | 1 | 560 | $275,000 | 2026-06-16 |
| 100 Lincoln Rd Unit 307 | condos | 0 | 1 | 530 | $262,500 | 2026-06-11 |
| 710 Washington Ave Apt 503 | condos | 0 | 1 | 400 | $245,000 | 2026-06-11 |
| 345 Ocean Dr Apt 1018 | condos | 0 | 1 | 407 | $320,000 | 2026-06-09 |
| 900 Euclid Ave Apt 5 | condos | 0 | 1 | 387 | $160,000 | 2026-05-29 |
| 750 Espanola Way Apt 4 | condos | 0 | 1 | 500 | $274,000 | 2026-05-28 |
| 1001 7th St Apt 202 | condos | 0 | 1 | 420 | $231,000 | 2026-05-20 |
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 |
|---|---|---|---|---|---|---|
| 1525 Meridian Ave Apt 106 | condos | 0 | 1 | 450 | $189,500 | — |
| 934 Michigan Ave Apt 207 | condos | 0 | 1 | 532 | $180,000 | — |
| 936 Pennsylvania Ave Apt 205 | condos | 0 | 1 | 455 | $199,000 | — |
| 900 Jefferson Ave Apt 2 | condos | 0 | 1 | 440 | $195,000 | — |
| 1024 Ocean Dr Unit A207 | condos | 0 | 1 | 395 | $295,000 | — |
| 800 West Ave Apt 741 | condos | 0 | 1 | 600 | $280,000 | — |
| 500 14th St Apt 106 | condos | 0 | 1 | 488 | $190,000 | — |
| 1100 West Ave Unit 812 | condos | 0 | 1 | 493 | $350,000 | — |
10-year hold projection
IRR9.7%
Equity multiple2.53x
Total return (10yr)$71,956
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $144,200 | $8,964 | -$753 | $110,786 | $33,414 |
| 2 | $148,526 | $9,287 | -$456 | $109,488 | $39,038 |
| 3 | $152,982 | $9,622 | -$150 | $108,101 | $44,881 |
| 4 | $157,571 | $9,968 | $168 | $106,619 | $50,952 |
| 5 | $162,298 | $10,326 | $497 | $105,035 | $57,263 |
| 6 | $167,167 | $10,696 | $837 | $103,343 | $63,825 |
| 7 | $172,182 | $11,078 | $1,189 | $101,534 | $70,648 |
| 8 | $177,348 | $11,474 | $1,553 | $99,601 | $77,747 |
| 9 | $182,668 | $11,883 | $1,930 | $97,535 | $85,133 |
| 10 | $188,148 | $12,306 | $2,320 | $95,328 | $92,821 |
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.