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5500 Collins Ave Apt 1902

Miami Beach, FL 33140 · condos · Pending — under contract · 68 days on market
Asking price$1,799,000
2 beds 3 baths 2,827 sqft
Suggested offer$1,564,520$234,480 above the est. market value of $1,564,520.
View on Realtor.com →
Listed by Nancy Batchelor · COMPASS
Typecondos
Built1974
Price / sqft$636
Est. value (own analysis)$1,564,520
Rent estimate (own analysis)$12,750/mo
HOA$3,491/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-06-27
Removed date—
MLSMiamiMLS #A12043922
Coordinates25.83441, -80.12137
Address5500 Collins Ave Apt 1902
CityMiami Beach
StateFL
Zip33140
Listing ID6250732714
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$1,799,000
Down payment (20.0%)$359,800
Loan amount$1,439,200
Closing costs (5.0%)$89,950
Total cash to close$449,750
Income
Rent (comp-derived)$12,750$153,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$153,000
Vacancy rate (assumption) assumption8.0%

$153,000 × 8.0% = $12,240

Effective gross income$11,730$140,760
Operating expenses
Property tax (placeholder 1.9% of price)$2,848$34,181
Insurance (est. scaled by flood & wind risk)$2,639$31,662
HOA dues$3,491$41,892
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$638$7,650
Total operating expenses$9,615$115,385
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$140,760
Total operating expenses derived$115,385

$140,760 − $115,385 = $25,375

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$1,439,200
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$1,439,200 amortized at 6.7% over 30 years = $9,249/mo

CapEx reserve (5.0% of GSR)$638$7,650
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$25,375
Annual debt service derived$110,984
Annual CapEx reserve assumption$7,650
Annual PMI assumption$0

($25,375 − $110,984 − $7,650 − $0) ÷ 12 = -$7,772

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$25,375
Purchase price data$1,799,000

$25,375 ÷ $1,799,000 = 1.4%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$93,260
Total cash to close derived$449,750

-$93,260 ÷ $449,750 = -20.7%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$25,375
Annual debt service derived$110,984

$25,375 ÷ $110,984 = 0.23

Rent-to-price (1% rule)

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

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$153,000
Purchase price data$1,799,000

($153,000 ÷ 12) ÷ $1,799,000 = 0.7%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,799,000
Gross scheduled rent (annual) comp$153,000

$1,799,000 ÷ $153,000 = 11.8

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$115,385
Effective gross income derived$140,760

$115,385 ÷ $140,760 = 82.0%

Break-even occupancy

Break-Even Occupancy

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

Total operating expenses derived$115,385
Annual debt service derived$110,984
Annual PMI assumption$0
Gross scheduled rent (annual) comp$153,000

($115,385 + $110,984 + $0) ÷ $153,000 = 148.0%

Comparables

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

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos231,880$3,9992026-07-08—
condos231,980$7,5002026-08-12—
condos242,059$18,0002026-05-29—
condos232,425$5,0002026-07-23—
condos232,240$26,5002026-07-08—
condos222,168$27,0002026-08-28—

5055 Collins Ave Apt 4C

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 3 ba
Square footage1,880
Listed2026-07-08
Days on market—

Asking rent: $3,999

View on Zillow →

5757 Collins Ave Apt 1505

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 3 ba
Square footage1,980
Listed2026-08-12
Days on market—

Asking rent: $7,500

View on Zillow →

5959 Collins Ave Apt 1201

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 4 ba
Square footage2,059
Listed2026-05-29
Days on market—

Asking rent: $18,000

View on Zillow →

5255 Collins Ave Apt 6J

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 3 ba
Square footage2,425
Listed2026-07-23
Days on market—

Asking rent: $5,000

View on Zillow →

4701 N Meridian Ave Unit 214

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 3 ba
Square footage2,240
Listed2026-07-08
Days on market—

Asking rent: $26,500

View on Zillow →

5875 Collins Ave Apt 401

Miami Beach, 33140 · rent comp

Bedrooms / bathrooms2 bd / 2 ba
Square footage2,168
Listed2026-08-28
Days on market—

Asking rent: $27,000

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
5775 Collins Ave Apt 506condos231,363$3,800,0002026-09-02
4775 Collins Ave Apt 1504condos221,490$1,350,0002026-09-01
4747 Collins Ave Apt 1109condos221,134$650,0002026-09-01
5555 Collins Ave Apt 3Ncondos221,301$675,0002026-08-31
2463 Pine Tree Dr Unit Phcondos221,320$675,0002026-08-28
2642 Collins Ave Apt 303condos221,020$405,0002026-08-28
2555 Collins Ave Apt 1002condos221,005$650,0002026-08-26
2455 Flamingo Dr Apt 201condos221,300$530,0002026-08-25
5660 Collins Ave Apt 14Ccondos232,210$1,090,0002026-08-24
5600 Collins Ave Apt 15Bcondos221,190$529,0002026-08-21
5401 Collins Ave Apt 1135condos221,340$835,0002026-08-19
5970 Indian Creek Dr Unit 207condos221,331$785,0002026-08-17
3737 Collins Ave Unit S803condos231,621$2,100,0002026-08-14
5555 Collins Ave Apt 4Bcondos221,047$395,0002026-08-14
5555 Collins Ave Apt 12Ncondos221,301$720,0002026-08-12
6039 Collins Ave Apt 924condos221,206$515,0002026-07-31
5401 Collins Ave Apt 208condos231,430$835,0002026-07-31
2401 Collins Ave Apt 602condos221,266$1,080,0002026-07-24
5161 Collins Ave Apt 1003condos221,030$650,0002026-07-01
6039 Collins Ave Apt 1607condos221,271$430,0002026-06-25
4747 Collins Ave Apt 510condos221,134$825,0002026-06-18
5600 Collins Ave Apt 5Ccondos221,190$400,0002026-06-17
5660 Collins Ave Apt 20Bcondos232,210$952,5002026-06-17
3200 Collins Ave Unit 11-3condos221,085$550,0002026-06-16
5757 Collins Ave Apt 1902condos221,310$530,0002026-06-15
5825 Collins Ave Apt 10Hcondos221,622$710,0002026-06-15
4301 Collins Ave Apt 803condos22874$620,0002026-06-12
6487707331condos221,122$630,0002026-06-09
6039 Collins Ave Apt 1223condos221,206$600,0002026-06-05
3411 Indian Creek Dr Apt 402condos221,020$655,0002026-05-29
3739 Collins Ave Unit N605condos231,589$1,776,0002026-05-28
5001 Collins Ave Apt 5Kcondos221,660$1,000,0002026-05-28
5161 Collins Ave Apt 701condos221,040$550,0002026-05-27
6000 Collins Ave Apt 330condos221,700$665,0002026-05-22
6039 Collins Ave Apt 311condos221,290$403,0002026-05-19
5025 Collins Ave Apt 1908condos231,870$1,800,0002026-05-19
5601 Collins Ave Apt 720condos221,290$505,0002026-05-15
2655 Collins Ave Apt 1911condos221,645$1,510,0002026-05-14
5601 Collins Ave Apt M5condos231,335$690,0002026-05-12
5161 Collins Ave Apt 511condos221,030$500,0002026-05-08
5161 Collins Ave Apt 208condos221,040$465,0002026-05-06
5959 Collins Ave Apt 1001condos242,059$2,100,0002026-05-01
5055 Collins Ave Apt 7Ncondos221,260$500,0002026-04-29
5959 Collins Ave Apt 701condos242,059$1,800,0002026-04-29
5900 Collins Ave Apt 2105condos221,020$620,0002026-04-29
2600 Collins Ave Apt 508condos22—$359,0002026-04-24
5750 Collins Ave Apt 11Dcondos221,442$515,0002026-04-23
2555 Collins Ave Apt 1901condos221,005$1,200,0002026-04-21
2655 Collins Ave Apt 2211condos221,645$1,200,0002026-04-20
5225 Collins Ave Apt 1411condos22960$622,5002026-04-15

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
5401 Collins Ave Apt 107condos221,120$570,000—
5825 Collins Ave Apt 2Econdos221,323$461,000—
5555 Collins Ave Apt 7Tcondos221,064$380,000—
5225 Collins Ave Apt 1214condos22960$500,000—
5225 Collins Ave Apt 510condos22960$479,000—
6061 Collins Ave Apt 5Fcondos221,524$1,000,000—
2924 Collins Ave Apt 501condos22982$409,000—
6039 Collins Ave Apt 728condos221,280$434,000—

10-year hold projection

IRR-3.7%
Equity multiple0.38x
Total return (10yr)-$41,649
YearProperty valueNOICash flowLoan balanceEquity
1$1,852,970$25,375-$93,260$1,423,596$429,374
2$1,908,559$26,713-$92,113$1,406,920$501,639
3$1,965,816$28,105-$90,916$1,389,099$576,717
4$2,024,790$29,555-$89,668$1,370,055$654,736
5$2,085,534$31,063-$88,366$1,349,702$735,832
6$2,148,100$32,631-$87,008$1,327,952$820,148
7$2,212,543$34,263-$85,593$1,304,708$907,835
8$2,278,919$35,960-$84,118$1,279,869$999,051
9$2,347,287$37,725-$82,580$1,253,323$1,093,964
10$2,417,706$39,559-$80,979$1,224,954$1,192,751
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.