60 Edgewater Dr Unit TS-A
Coral Gables, FL 33133 · condos · For Sale · 149 days on market
Asking price$9,950,000
5 beds 8 baths 10,190 sqft
Listed by Saddy Abaunza Delgado · One Sotheby's International Realty
Typecondos
Built2003
Price / sqft$976
Est. value (own analysis)$21,046,222
Rent estimate (Zillow ZIP avg)$3,793/mo
HOA$4,554/mo
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Statusfor_sale
Listed date2026-04-06
Removed date—
MLSMiamiMLS #A11994710
Coordinates25.70606, -80.25339
Address60 Edgewater Dr Unit TS-A
CityCoral Gables
StateFL
Zip33133
Listing ID5988815898
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33133)
Typical home value (ZHVI)$1,352,044
Typical rent (ZORI)$3,793/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 | $9,950,000 |
| Down payment (20.0%) | $1,990,000 |
| Loan amount | $7,960,000 |
| Closing costs (5.0%) | $497,500 |
| Total cash to close | $2,487,500 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $3,793$45,518 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,490$41,876 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $15,754$189,050 |
| Insurance (placeholder 0.8% of price) | $6,633$79,600 |
| HOA dues | $4,554$54,648 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $190$2,276 |
| Total operating expenses | $27,131$325,574 |
| 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) | $190$2,276 |
| 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 | 5 | 4 | 2,108 | $8,710 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 2655 S Bayshore Dr Unit Lph | condos | 5 | 6 | 6,611 | $16,150,000 | 2026-07-07 |
| 2000 S Bayshore Dr Apt 47 | condo_townhome_rowhome_coop | 5 | 4 | 3,725 | $3,100,000 | 2026-04-14 |
| 2669 S Bayshore Dr Ph 1N | condos | 5 | 6 | 4,986 | $11,500,000 | 2026-04-14 |
| 2675 S Bayshore Dr Unit 1602S | condos | 5 | 6 | 3,607 | $7,000,000 | 2026-03-13 |
| 2627 S Bayshore Dr Apt 3101 | condos | 5 | 8 | 6,920 | $13,625,000 | 2026-01-15 |
| 2821 S Bayshore Dr Unit 20AB | condos | 5 | 7 | 6,476 | $14,000,000 | 2025-12-01 |
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 |
|---|---|---|---|---|---|---|
| 2627 S Bayshore Dr Apt 3201 | condos | 5 | 8 | 7,061 | $20,900,000 | — |
| 2675 S Bayshore Dr Unit 602S | condos | 5 | 6 | 4,085 | $7,800,000 | — |
| 3460 S Moorings Way | single_family | 5 | 7 | 6,720 | $10,950,000 | — |
| 3341 Florida Ave | single_family | 5 | 4 | 3,200 | $3,480,000 | — |
| 3400 S Moorings Way | single_family | 5 | 8 | 6,768 | $9,750,000 | — |
| 3170 SW 26th St | multi_family | 5 | 3 | 2,287 | $930,000 | — |
| 3579 Avocado Ave | single_family | 5 | 6 | 4,651 | $6,950,000 | — |
| 291 Shore Dr E | single_family | 5 | 4 | 2,285 | $3,975,000 | — |
10-year hold projection
IRR-14.0%
Equity multiple-1.42x
Total return (10yr)-$4,724,409
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $10,248,500 | -$283,698 | -$899,811 | $7,873,696 | $2,374,804 |
| 2 | $10,555,955 | -$290,581 | -$906,751 | $7,781,465 | $2,774,490 |
| 3 | $10,872,634 | -$297,630 | -$913,858 | $7,682,901 | $3,189,733 |
| 4 | $11,198,813 | -$304,848 | -$921,136 | $7,577,568 | $3,621,244 |
| 5 | $11,534,777 | -$312,241 | -$928,590 | $7,465,002 | $4,069,775 |
| 6 | $11,880,820 | -$319,811 | -$936,223 | $7,344,706 | $4,536,114 |
| 7 | $12,237,245 | -$327,563 | -$944,040 | $7,216,149 | $5,021,096 |
| 8 | $12,604,362 | -$335,503 | -$952,045 | $7,078,764 | $5,525,598 |
| 9 | $12,982,493 | -$343,633 | -$960,243 | $6,931,945 | $6,050,548 |
| 10 | $13,371,968 | -$351,958 | -$968,638 | $6,775,043 | $6,596,925 |
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.