540 Brickell Key Dr Apt 409
Miami, FL 33131 · condos · For Sale · 209 days on market
Asking price$340,000
0 beds 1 baths 540 sqft
Listed by Giovanna M. Fernandez · BHHS EWM Realty
Typecondos
Built1991
Price / sqft$630
Est. value (own analysis)$370,879
Rent estimate (own analysis)$2,700/mo
HOA$600/mo
1 / 21
Show every detail
Statusfor_sale
Listed date2026-02-05
Removed date—
MLSMiamiMLS #A11959692
Coordinates25.76796, -80.18389
Address540 Brickell Key Dr Apt 409
CityMiami
StateFL
Zip33131
Listing ID5916414839
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33131)
Typical home value (ZHVI)$587,486
Typical rent (ZORI)$3,815/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 | $340,000 |
| Down payment (20.0%) | $68,000 |
| Loan amount | $272,000 |
| Closing costs (5.0%) | $17,000 |
| Total cash to close | $85,000 |
| Income | |
| Rent (comp-derived) | $2,700$32,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,484$29,808 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $538$6,460 |
| Insurance (placeholder 0.8% of price) | $227$2,720 |
| HOA dues | $600$7,200 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $135$1,620 |
| Total operating expenses | $1,500$18,000 |
| 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) | $135$1,620 |
| 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 | 507 | $2,950 | 2026-08-21 | — | |
| condos | 0 | 1 | 485 | $2,855 | 2026-08-19 | — | |
| condos | 0 | 1 | 485 | $2,855 | 2026-08-19 | — | |
| apartment | 0 | 1 | 589 | $2,659 | 2026-02-19 | — | |
| apartment | 0 | 1 | 400 | $4,900 | — | — | |
| condos | 0 | 1 | 698 | $5,500 | 2026-08-19 | — | |
| condos | 0 | 1 | 601 | $2,500 | 2026-08-19 | — | |
| apartment | 0 | 1 | 519 | $2,492 | 2026-08-14 | — | |
| condos | 0 | 1 | 507 | $2,400 | 2026-08-18 | — | |
| condos | 0 | 1 | 598 | $2,800 | 2026-08-17 | — | |
| condos | 0 | 1 | 500 | $2,200 | 2026-08-15 | — | |
| condos | 0 | 1 | 507 | $2,950 | 2026-08-13 | — | |
| condos | 0 | 1 | 601 | $2,700 | 2026-08-12 | — | |
| condos | 0 | 1 | 545 | $2,500 | 2026-08-12 | — | |
| condos | 0 | 1 | 598 | $2,800 | 2026-08-12 | — | |
| condos | 0 | 1 | 507 | $2,850 | 2026-08-07 | — | |
| condos | 0 | 1 | 442 | $2,900 | 2026-08-06 | — | |
| condos | 0 | 1 | 442 | $2,799 | 2026-07-11 | — | |
| condos | 0 | 1 | 604 | $2,500 | 2026-08-05 | — | |
| condos | 0 | 1 | 598 | $3,000 | 2026-07-24 | — | |
| condos | 0 | 1 | 546 | $2,700 | 2026-07-23 | — | |
| condos | 0 | 1 | 442 | $2,800 | 2026-07-22 | — | |
| condos | 0 | 1 | 507 | $2,300 | 2026-07-22 | — | |
| condos | 0 | 1 | 598 | $3,000 | 2026-07-20 | — | |
| condos | 0 | 1 | 551 | $2,400 | 2026-07-20 | — | |
| condos | 0 | 1 | 425 | $2,149 | 2026-07-17 | — | |
| condos | 0 | 1 | 375 | $2,700 | 2026-07-17 | — | |
| condos | 0 | 1 | 575 | $2,500 | 2026-07-15 | — | |
| condos | 0 | 1 | 470 | $2,700 | 2026-07-15 | — | |
| condos | 0 | 1 | 507 | $2,200 | 2026-07-15 | — | |
| condos | 0 | 1 | 598 | $2,900 | 2026-07-13 | — | |
| condos | 0 | 1 | 442 | $2,750 | 2026-07-10 | — | |
| apartment | 0 | 1 | 580 | $2,100 | 2026-07-10 | — | |
| condos | 0 | 1 | 507 | $2,450 | 2026-07-08 | — | |
| condos | 0 | 1 | 546 | $2,595 | 2026-07-08 | — | |
| condos | 0 | 1 | 362 | $2,500 | 2026-07-07 | — | |
| condos | 0 | 1 | 519 | $3,000 | 2026-06-30 | — | |
| condos | 0 | 1 | 375 | $3,200 | 2026-06-25 | — | |
| condos | 0 | 1 | 507 | $2,350 | 2026-06-17 | — | |
| condos | 0 | 1 | 542 | $4,200 | 2026-06-17 | — | |
| apartment | 0 | 1 | 580 | $2,300 | 2026-06-11 | — | |
| condos | 0 | 1 | 442 | $2,900 | 2026-06-10 | — | |
| condos | 0 | 1 | 519 | $2,800 | 2026-06-04 | — | |
| condos | 0 | 1 | 598 | $3,250 | 2026-05-31 | — | |
| apartment | 0 | 1 | 601 | $2,350 | 2026-05-28 | — | |
| condos | 0 | 1 | 507 | $2,550 | 2026-05-19 | — | |
| condos | 0 | 1 | 611 | $7,000 | 2026-05-15 | — | |
| condos | 0 | 1 | 604 | $2,550 | 2026-05-12 | — | |
| condos | 0 | 1 | 442 | $2,550 | 2026-05-08 | — | |
| condos | 0 | 1 | 546 | $3,050 | 2026-05-07 | — | |
| condos | 0 | 1 | 442 | $2,650 | 2026-05-05 | — | |
| apartment | 0 | 1 | 442 | $2,750 | 2026-04-29 | — | |
| condos | 0 | 1 | 355 | $2,500 | 2026-08-01 | — | |
| condos | 0 | 1 | 507 | $3,300 | 2026-07-31 | — | |
| condos | 0 | 1 | 425 | $2,150 | 2026-07-30 | — | |
| condos | 0 | 1 | 580 | $2,175 | 2025-05-23 | — | |
| condos | 0 | 1 | 442 | $2,800 | 2026-04-20 | — | |
| apartment | 0 | 1 | 551 | $2,400 | 2022-09-02 | — | |
| condos | 0 | 1 | 551 | $3,000 | 2026-08-24 | — | |
| condos | 0 | 1 | 598 | $3,250 | 2026-08-25 | — | |
| condos | 0 | 1 | 425 | $2,750 | 2026-08-22 | — | |
| condos | 0 | 1 | 551 | $2,500 | 2026-04-14 | — | |
| condos | 0 | 1 | 551 | $3,300 | 2025-12-21 | — | |
| condos | 0 | 1 | 442 | $2,600 | 2026-01-25 | — | |
| condos | 0 | 1 | 442 | $2,999 | 2025-05-16 | — | |
| condos | 0 | 1 | 442 | $2,700 | 2026-03-16 | — | |
| condos | 0 | 1 | 362 | $4,500 | 2026-03-10 | — | |
| condos | 0 | 1 | 506 | $3,900 | 2025-05-19 | — | |
| condos | 0 | 1 | 519 | $3,200 | 2026-03-19 | — | |
| condos | 0 | 1 | 698 | $5,150 | 2025-07-02 | — | |
| apartment | 0 | 1 | 425 | $1,700 | 2026-08-22 | — | |
| apartment | 0 | 1 | 650 | $2,500 | — | — | |
| apartment | 0 | 1 | 700 | $2,850 | — | — | |
| apartment | 0 | 1 | 519 | $2,492 | — | — | |
| apartment | 0 | 1 | 507 | $2,400 | 2026-08-26 | — | |
| condos | 0 | 1 | 355 | $2,600 | 2026-08-28 | — | |
| condos | 0 | 1 | 598 | $2,700 | 2026-08-26 | — | |
| condos | 0 | 1 | 546 | $3,250 | 2026-08-27 | — | |
| apartment | 0 | 1 | 519 | $2,777 | — | — | |
| apartment | 0 | 1 | 700 | $3,127 | — | — | |
| apartment | 0 | 1 | 644 | $2,687 | — | — | |
| apartment | 0 | 1 | 519 | $2,587 | — | — | |
| apartment | 0 | 1 | 519 | $2,587 | — | — | |
| apartment | 0 | 1 | 700 | $2,735 | — | — | |
| apartment | 0 | 1 | 700 | $2,825 | — | — | |
| apartment | 0 | 1 | 644 | $2,738 | — | — | |
| condos | 0 | 1 | 551 | $2,500 | 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 |
|---|---|---|---|---|---|---|
| 475 Brickell Ave Apt 5010 | condos | 0 | 1 | 546 | $375,000 | 2026-08-26 |
| 151 SE 1st St Apt 805 | condos | 0 | 1 | 526 | $304,900 | 2026-05-15 |
| 1200 Brickell Bay Dr Apt 3316 | condos | 0 | 1 | 425 | $315,000 | 2026-04-10 |
| 1300 Brickell Bay Dr Apt 2400 | condos | 0 | 1 | 420 | $370,000 | 2026-03-09 |
| 801 Brickell Bay Dr Apt 1569 | condos | 0 | 1 | 580 | $325,000 | 2026-03-03 |
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 |
|---|---|---|---|---|---|---|
| 335 S Biscayne Blvd Apt 1106 | condos | 0 | 1 | 507 | $349,000 | — |
| 1200 Brickell Bay Dr Apt 3310 | condos | 0 | 1 | 425 | $325,000 | — |
| 77 SE 5th St Apt 412 | condos | 0 | 1 | 489 | $637,900 | — |
| 335 S Biscayne Blvd Apt 3706 | condos | 0 | 1 | 507 | $349,000 | — |
| 1200 Brickell Bay Dr Apt 1816 | condos | 0 | 1 | 425 | $329,000 | — |
| 1060 Brickell Ave Apt 3509 | condos | 0 | 1 | 551 | $389,000 | — |
| 1080 Brickell Ave Unit 3705 | condos | 0 | 1 | 507 | $460,000 | — |
| 475 Brickell Ave Apt 2508 | condos | 0 | 1 | 598 | $375,000 | — |
10-year hold projection
IRR1.8%
Equity multiple1.30x
Total return (10yr)$69,574
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $350,200 | $11,808 | -$10,787 | $269,051 | $81,149 |
| 2 | $360,706 | $12,252 | -$10,384 | $265,899 | $94,807 |
| 3 | $371,527 | $12,712 | -$9,965 | $262,531 | $108,996 |
| 4 | $382,673 | $13,188 | -$9,532 | $258,932 | $123,741 |
| 5 | $394,153 | $13,681 | -$9,083 | $255,085 | $139,068 |
| 6 | $405,978 | $14,190 | -$8,618 | $250,974 | $155,003 |
| 7 | $418,157 | $14,718 | -$8,136 | $246,581 | $171,576 |
| 8 | $430,702 | $15,264 | -$7,637 | $241,887 | $188,815 |
| 9 | $443,623 | $15,829 | -$7,121 | $236,870 | $206,753 |
| 10 | $456,932 | $16,413 | -$6,585 | $231,508 | $225,423 |
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.