2901 Collins Ave Unit 1602
Miami Beach, FL 33140 · condos · For Sale · 40 days on market
Asking price$80,000,000
4 beds 6 baths 5,011 sqft
Suggested offer$17,972,503$62,027,497 above the est. market value of $17,972,503.
View on Realtor.com →Listed by Anna Sherrill · One Sotheby's International Realty
Typecondos
Built2014
Price / sqft$15965
Est. value (own analysis)$17,972,503
Rent estimate (own analysis)$35,000/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-07-24
Removed date—
MLSMiamiMLS #A12059276
Coordinates25.80538, -80.12425
Address2901 Collins Ave Unit 1602
CityMiami Beach
StateFL
Zip33140
Listing ID5725866949
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33140)
Typical home value (ZHVI)$684,558
Typical rent (ZORI)$3,694/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 | $80,000,000 |
| Down payment (20.0%) | $16,000,000 |
| Loan amount | $64,000,000 |
| Closing costs (5.0%) | $4,000,000 |
| Total cash to close | $20,000,000 |
| Income | |
| Rent (comp-derived) | $35,000$420,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $32,200$386,400 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $126,667$1,520,000 |
| Insurance (est. scaled by flood & wind risk) | $104,000$1,248,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,750$21,000 |
| Total operating expenses | $232,417$2,789,000 |
| 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) | $1,750$21,000 |
| 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 | 6 | 5,011 | $150,000 | 2026-03-05 | — | |
| condos | 4 | 5 | 5,517 | $35,000 | 2026-06-30 | — | |
| condos | 4 | 5 | 4,599 | $32,000 | 2026-03-05 | — | |
| condos | 4 | 5 | 5,517 | $35,000 | 2026-08-10 | — | |
| condos | 4 | 5 | 4,257 | $60,000 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 5775 Collins Ave Apt 1501 | condos | 4 | 6 | 3,443 | $13,600,000 | 2026-08-31 |
| 5401 Collins Ave Apt 819 | condos | 4 | 3 | — | $800,000 | 2026-08-14 |
| 2901 Collins Ave Unit 1501 | condos | 4 | 5 | 3,764 | $13,500,000 | 2026-07-27 |
| 1011 W 48th St Unit 8 | condo_townhome_rowhome_coop | 4 | 5 | 5,154 | $8,609,000 | 2026-06-08 |
| 3315 Collins Ave Apt 10A | condos | 4 | 7 | 4,730 | $20,000,000 | 2026-06-04 |
| 3315 Collins Ave Apt 10B | condos | 4 | 5 | 4,165 | $16,000,000 | 2026-05-15 |
| 5959 Collins Ave Apt 705 | condos | 4 | 5 | 3,807 | $4,400,000 | 2026-04-15 |
| 5959 Collins Ave Apt 1404 | condos | 4 | 4 | 3,982 | $5,350,000 | 2025-12-04 |
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 |
|---|---|---|---|---|---|---|
| 524 W 47th St | single_family | 4 | 3 | 2,071 | $1,995,000 | — |
| 2532 NW Lake Ave | single_family | 4 | 5 | 3,468 | $9,990,000 | — |
| 4531 Sheridan Ave | single_family | 4 | 2 | 1,855 | $2,095,000 | — |
| 6020 Alton Rd | single_family | 4 | 5 | 3,850 | $4,975,000 | — |
| 5025 Collins-1105 Ave Unit 1103-1104 | condos | 4 | 5 | 5,517 | $5,495,000 | — |
| 3755 Royal Palm Ave | single_family | 4 | 3 | 2,096 | $2,850,000 | — |
| 5842 Alton Rd | single_family | 4 | 4 | 2,858 | $2,350,000 | — |
| 5288 Alton Rd Unit 2 | single_family | 4 | 4 | 3,410 | $675,000 | — |
10-year hold projection
IRR-14.4%
Equity multiple-1.49x
Total return (10yr)-$39,365,003
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $82,400,000 | -$2,402,600 | -$7,358,975 | $63,306,098 | $19,093,902 |
| 2 | $84,872,000 | -$2,460,733 | -$7,417,633 | $62,564,544 | $22,307,456 |
| 3 | $87,418,160 | -$2,520,261 | -$7,477,699 | $61,772,068 | $25,646,092 |
| 4 | $90,040,705 | -$2,581,218 | -$7,539,208 | $60,925,171 | $29,115,534 |
| 5 | $92,741,926 | -$2,643,638 | -$7,602,193 | $60,020,117 | $32,721,809 |
| 6 | $95,524,184 | -$2,707,554 | -$7,666,688 | $59,052,912 | $36,471,271 |
| 7 | $98,389,909 | -$2,773,003 | -$7,732,732 | $58,019,288 | $40,370,621 |
| 8 | $101,341,607 | -$2,840,021 | -$7,800,359 | $56,914,684 | $44,426,922 |
| 9 | $104,381,855 | -$2,908,646 | -$7,869,607 | $55,734,226 | $48,647,629 |
| 10 | $107,513,310 | -$2,978,914 | -$7,940,515 | $54,472,704 | $53,040,606 |
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.