2443 Fisher Island Dr Unit 5403
Miami, FL 33109 · condos · For Sale · 209 days on market
Asking price$5,250,000
3 beds 4 baths 3,227 sqft
Listed by Jill Eber · Coldwell Banker Realty
Typecondos
Built1986
Price / sqft$1627
Est. value (own analysis)$5,957,538
Rent estimate (own analysis)$29,000/mo
HOA$5,375/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-02-05
Removed date—
MLSMiamiMLS #A11955309
Coordinates25.75893, -80.14313
Address2443 Fisher Island Dr Unit 5403
CityMiami
StateFL
Zip33109
Listing ID6504658260
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33109)
No market data analyzed yet for ZIP 33109.
Analyze ZIP 33109 (≥3 of 50 per our log, shared with every property in this ZIP)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $5,250,000 |
| Down payment (20.0%) | $1,050,000 |
| Loan amount | $4,200,000 |
| Closing costs (5.0%) | $262,500 |
| Total cash to close | $1,312,500 |
| Income | |
| Rent (comp-derived) | $29,000$348,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $26,680$320,160 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $8,313$99,750 |
| Insurance (est. scaled by flood & wind risk) | $7,700$92,400 |
| HOA dues | $5,375$64,500 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,450$17,400 |
| Total operating expenses | $22,838$274,050 |
| 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) | $1,450$17,400 |
| 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 | 3 | 4 | 2,234 | $40,000 | 2024-03-14 | — | |
| condos | 3 | 4 | 2,744 | $20,000 | 2026-07-09 | — | |
| condos | 3 | 4 | 3,140 | $20,000 | 2025-02-28 | — | |
| condos | 3 | 4 | 3,140 | $29,000 | 2026-02-24 | — | |
| condos | 3 | 4 | 3,192 | $40,000 | 2026-06-18 | — | |
| condos | 3 | 4 | 2,744 | $28,000 | 2026-04-10 | — | |
| apartment | 3 | 4 | 2,744 | $30,000 | 2026-04-06 | — |
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 |
|---|---|---|---|---|---|---|
| 19236 Fisher Island Dr Unit 19236 | condos | 3 | 3 | 2,049 | $3,000,000 | 2026-05-19 |
| 7937 Fisher Island Dr Unit 7937 | condos | 3 | 4 | 2,530 | $8,550,000 | 2026-03-31 |
| 2437 Fisher Island Dr Unit 5307 | condos | 3 | 4 | 3,192 | $4,700,000 | 2026-03-25 |
| 4922 Fisher Island Dr Unit 4922 | condos | 3 | 4 | 2,000 | $5,800,000 | 2025-12-31 |
| 5344 Fisher Island Dr Unit 5344 | condos | 3 | 3 | 1,950 | $3,600,000 | 2025-12-22 |
| 19152 Fisher Island Dr Unit 19152 | condos | 3 | 3 | 1,838 | $5,000,000 | 2025-12-10 |
| 2021 Fisher Island Dr Unit 2021 | condos | 3 | 4 | 2,744 | $4,300,000 | 2025-11-05 |
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 |
|---|---|---|---|---|---|---|
| 2134 Fisher Island Dr Unit 2134 | condos | 3 | 4 | 2,744 | $4,500,000 | — |
| 2133 Fisher Island Dr Unit 2133 | condos | 3 | 4 | 1,847 | $3,789,000 | — |
| 2521 Fisher Island Dr Unit 6201 | condos | 3 | 4 | 2,744 | $7,750,000 | — |
| 2432 Fisher Island Dr Unit 5302 | condos | 3 | 4 | 2,234 | $3,900,000 | — |
| 5266 Fisher Island Dr Unit 5266 | condos | 3 | 4 | 2,740 | $5,400,000 | — |
| 2236 Fisher Island Dr Unit 3306 | condos | 3 | 4 | 2,744 | $5,200,000 | — |
| 19216 Fisher Island Dr Unit 19216 | condos | 3 | 3 | 2,049 | $4,400,000 | — |
| 6 Fisher Island Dr Unit 305 | condos | 3 | 5 | 3,872 | $17,100,000 | — |
10-year hold projection
IRR-5.0%
Equity multiple0.17x
Total return (10yr)-$403,000
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,407,500 | $46,110 | -$295,174 | $4,154,463 | $1,253,037 |
| 2 | $5,569,725 | $48,864 | -$292,855 | $4,105,798 | $1,463,927 |
| 3 | $5,736,817 | $51,734 | -$290,431 | $4,053,792 | $1,683,025 |
| 4 | $5,908,921 | $54,726 | -$287,896 | $3,998,214 | $1,910,707 |
| 5 | $6,086,189 | $57,843 | -$285,247 | $3,938,820 | $2,147,369 |
| 6 | $6,268,775 | $61,091 | -$282,480 | $3,875,347 | $2,393,427 |
| 7 | $6,456,838 | $64,474 | -$279,589 | $3,807,516 | $2,649,322 |
| 8 | $6,650,543 | $67,997 | -$276,570 | $3,735,026 | $2,915,517 |
| 9 | $6,850,059 | $71,666 | -$273,418 | $3,657,559 | $3,192,500 |
| 10 | $7,055,561 | $75,485 | -$270,129 | $3,574,771 | $3,480,790 |
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.