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900 Biscayne Blvd Apt 4202

Miami, FL 33132 · condos · For Sale · 119 days on market
Asking price$2,675,000
4 beds 4 baths 2,754 sqft
Suggested offer$2,486,200$188,800 above the est. market value of $2,486,200.
View on Realtor.com →
Listed by Roland Ortiz · One Sotheby's International Realty
Typecondos
Built—
Price / sqft$971
Est. value (Realtor.com)$2,486,200
Rent estimate (own analysis)$13,500/mo
HOA$3,435/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-05-06
Removed date—
MLSMiamiMLS #A12014038
Coordinates25.78342, -80.19009
Address900 Biscayne Blvd Apt 4202
CityMiami
StateFL
Zip33132
Listing ID6223342673
Sourcerealtor, cached 2026-08-21

ZIP market snapshot (33132)

Typical home value (ZHVI)$514,716
Typical rent (ZORI)$3,468/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$2,675,000
Down payment (20.0%)$535,000
Loan amount$2,140,000
Closing costs (5.0%)$133,750
Total cash to close$668,750
Income
Rent (comp-derived)$13,500$162,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$162,000
Vacancy rate (assumption) assumption8.0%

$162,000 × 8.0% = $12,960

Effective gross income$12,420$149,040
Operating expenses
Property tax (real MLS tax bill, from Realtor Search)$2,418$29,015
Insurance (est. scaled by flood & wind risk)$3,923$47,080
HOA dues$3,435$41,220
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$675$8,100
Total operating expenses$10,451$125,415
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$149,040
Total operating expenses derived$125,415

$149,040 − $125,415 = $23,625

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$2,140,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$2,140,000 amortized at 6.7% over 30 years = $13,752/mo

CapEx reserve (5.0% of GSR)$675$8,100
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$23,625
Annual debt service derived$165,027
Annual CapEx reserve assumption$8,100
Annual PMI assumption$0

($23,625 − $165,027 − $8,100 − $0) ÷ 12 = -$12,458

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$23,625
Purchase price data$2,675,000

$23,625 ÷ $2,675,000 = 0.9%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$149,502
Total cash to close derived$668,750

-$149,502 ÷ $668,750 = -22.4%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$23,625
Annual debt service derived$165,027

$23,625 ÷ $165,027 = 0.14

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$162,000
Purchase price data$2,675,000

($162,000 ÷ 12) ÷ $2,675,000 = 0.5%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$2,675,000
Gross scheduled rent (annual) comp$162,000

$2,675,000 ÷ $162,000 = 16.5

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$125,415
Effective gross income derived$149,040

$125,415 ÷ $149,040 = 84.1%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$125,415
Annual debt service derived$165,027
Annual PMI assumption$0
Gross scheduled rent (annual) comp$162,000

($125,415 + $165,027 + $0) ÷ $162,000 = 179.3%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos443,059$13,0002026-08-10—
apartment442,204$10,2502026-07-14—
condos452,754$13,5002026-07-03—
condos453,312$22,0002026-07-28—
condos453,135$25,0002026-03-04—

50 Biscayne Blvd Apt 2510

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 4 ba
Square footage3,059
Listed2026-08-10
Days on market—

Asking rent: $13,000

View on Zillow →

851 NE 1st Ave Unit 1701

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 4 ba
Square footage2,204
Listed2026-07-14
Days on market—

Asking rent: $10,250

View on Zillow →

900 Biscayne Blvd Apt 4202

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 5 ba
Square footage2,754
Listed2026-07-03
Days on market—

Asking rent: $13,500

View on Zillow →

851 NE 1st Ave Ph 4912

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 5 ba
Square footage3,312
Listed2026-07-28
Days on market—

Asking rent: $22,000

View on Zillow →

851 NE 1st Ave Ph 5402

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 5 ba
Square footage3,135
Listed2026-03-04
Days on market—

Asking rent: $25,000

View on Zillow →

Widened to any bedroom count in ZIP. 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.

AddressTypeBedsBathsLiving sqftSale priceSale date
398 NE 5th St Apt 4207condos01442$540,0002026-08-24
851 NE 1st Ave Unit 3800condos121,018$540,0002026-08-24
1800 N Bayshore Dr Apt 1908condos11839$355,0002026-08-21
1800 N Bayshore Dr Apt 1208condos11839$350,0002026-08-20
888 Biscayne Blvd Apt 3506condos12948$585,0002026-08-20
1000 Biscayne Blvd Unit 3902condos464,600$7,195,0002026-08-19
488 NE 18th St Unit 4005condos12743$535,0002026-08-18
1800 N Bayshore Dr Apt 4106condos11822$377,0002026-08-18
900 Biscayne Blvd Apt 2907condos12938$675,0002026-08-18
1800 N Bayshore Dr Apt 1901condos332,189$1,420,0002026-08-17
20 NE 11th St Apt 4807Bcondos01—$420,0002026-08-17
253 NE 2nd St Apt 3105condos01632$325,0002026-08-17
488 NE 18th St Unit 5012condos342,365$2,575,0002026-08-14
398 NE 5th St Apt 4518condos331,135$1,050,0002026-08-14
1900 N Bayshore Dr Apt 2204condos221,289$644,0002026-08-10
227 NE 2nd St Apt 1909condos11549$395,0002026-08-06
253 NE 2nd St Apt 903condos221,058$480,0002026-08-05
851 NE 1st Ave Unit 1412condos342,165$1,290,0002026-08-05
488 NE 18th St Unit 2802condos12766$485,0002026-08-01
900 Biscayne Blvd Apt 3502condos231,575$1,000,0002026-07-28
1750 N Bayshore Dr Apt 4506condos11821$308,0002026-07-27
601 NE 1 St Unit 2716condos331,633$1,175,0002026-07-24
1600 NE 1st Ave Apt 1916condos221,018$505,0002026-07-23
1750 N Bayshore Dr Apt 5408condos01503$255,0002026-07-23
1040 Biscayne Blvd Apt 1406condos231,123$700,0002026-07-23
20 NE 11th St Unit 2503Bcondos01336$450,0002026-07-20
159 NE 6th St Unit 3105condos22916$825,0002026-07-17
253 NE 2nd St Apt 220condos01560$255,0002026-07-17
50 Biscayne Blvd Apt 3510condos321,789$1,025,0002026-07-17
1040 Biscayne Blvd Apt 4607condos232,566$2,950,0002026-07-16
253 NE 2nd St Apt 3902condos221,203$530,0002026-07-15
1750 N Bayshore Dr Apt 5105condos11825$320,0002026-07-15
50 Biscayne Blvd Apt 711condos01501$316,5002026-07-15
488 NE 18th St Unit 2401condos231,178$650,0002026-07-13
227 NE 2nd St Apt 2911condos01446$335,0002026-07-13
1717 N Bayshore Dr Unit A2451condos331,840$705,0002026-07-10
227 NE 2nd St Apt 2412condos01446$350,0002026-07-10
1600 NE 1st Ave Apt 3302condos01—$360,0002026-07-10
1600 NE 1st Ave Apt 3012condos12850$400,0002026-07-09
900 Biscayne Blvd Apt 2910condos121,031$590,0002026-07-09
1900 N Bayshore Dr Apt 506condos11816$417,0002026-07-08
227 NE 2nd St Apt 2306condos22647$530,0002026-07-06
253 NE 2nd St Apt 1107condos11802$392,5002026-07-02
851 NE 1st Ave Unit 3905condos221,254$645,0002026-06-30
253 NE 2nd St Apt 2902condos221,203$600,0002026-06-30
1100 Biscayne Blvd Unit 4502condos231,557$920,0002026-06-30
900 Biscayne Blvd Apt 3709condos331,579$1,175,0002026-06-30
1717 NE Bayshore Dr Unit A2736condos221,464$785,0002026-06-26
133 NE 2nd Ave Apt 611condos11651$248,0002026-06-24
398 NE 5th St Apt 2403condos11490$415,0002026-06-24

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.

AddressTypeBedsBathsSqftAsking priceDays on market
1400 Biscayne Blvd Unit 4206condos442,187$3,560,000—
20 NE 11th St Apt 6003condos452,693$7,500,000—
1000 Biscayne Blvd Unit 4401condos464,600$7,495,000—
1100 Biscayne Blvd Unit 3906condos445,451$8,995,000—
851 NE 1st Ave Ph 4912condos453,312$3,280,000—
1717 N Bayshore Dr Unit A2056condos431,827$1,500,000—
50 Biscayne Blvd Apt 2510condos443,059$2,500,000—
1000 Biscayne Blvd Unit 4802condos464,755$7,185,000—

10-year hold projection

IRR-4.9%
Equity multiple0.18x
Total return (10yr)-$198,963
YearProperty valueNOICash flowLoan balanceEquity
1$2,755,250$23,625-$149,502$2,116,798$638,452
2$2,837,908$24,961-$148,368$2,092,002$745,906
3$2,923,045$26,352-$147,184$2,065,503$857,541
4$3,010,736$27,802-$145,948$2,037,185$973,551
5$3,101,058$29,311-$144,656$2,006,922$1,094,136
6$3,194,090$30,883-$143,308$1,974,581$1,219,508
7$3,289,913$32,519-$141,902$1,940,020$1,349,893
8$3,388,610$34,221-$140,434$1,903,084$1,485,526
9$3,490,268$35,993-$138,902$1,863,613$1,626,656
10$3,594,976$37,837-$137,305$1,821,430$1,773,546
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.