2521 Fisher Island Dr Unit 6201
Miami Beach, FL 33109 · condos · For Sale · 245 days on market
Asking price$7,750,000
3 beds 4 baths 2,744 sqft
Suggested offer$5,065,846$2,684,154 above the est. market value of $5,065,846.
View on Realtor.com →Listed by Jill Eber · Coldwell Banker Realty
Typecondos
Built1986
Price / sqft$2824
Est. value (own analysis)$5,065,846
Rent estimate (own analysis)$29,500/mo
HOA$5,375/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
1 / 51
Show every detail
Statusfor_sale
Listed date2025-12-31
Removed date—
MLSMiamiMLS #A11936875
Coordinates25.75893, -80.14313
Address2521 Fisher Island Dr Unit 6201
CityMiami Beach
StateFL
Zip33109
Listing ID6505105451
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33109)
Median sale price$4,500,000
Median days on market (sale)125
Active sale listings21
Median rent$9,093/mo
Active rental listings1
Real ZIP-wide statistics from RentCast, as of 2026-09 (fetched 2026-09-03) — this is the whole ZIP's market, not specific to this property. Re-analyzing spends one of the account's 50 free monthly lookups. Our own log shows at least 6 of the 50 free monthly RentCast requests used — that only counts calls made through this app, so it can undercount. RentCast's own account dashboard has the real total.
Re-analyze ZIP 33109 (≥6 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $7,750,000 |
| Down payment (20.0%) | $1,550,000 |
| Loan amount | $6,200,000 |
| Closing costs (5.0%) | $387,500 |
| Total cash to close | $1,937,500 |
| Income | |
| Rent (comp-derived) | $29,500$354,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,140$325,680 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $12,271$147,250 |
| Insurance (est. scaled by flood & wind risk) | $11,367$136,400 |
| HOA dues | $5,375$64,500 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,475$17,700 |
| Total operating expenses | $30,488$365,850 |
| 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) | $1,475$17,700 |
| 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 | 2 | 1,838 | $30,000 | 2021-10-19 | — | |
| condos | 3 | 4 | 2,234 | $40,000 | 2024-03-14 | — | |
| condos | 3 | 2 | 1,838 | $30,000 | 2022-05-03 | — | |
| condos | 3 | 2 | 1,875 | $29,000 | 2024-02-17 | — | |
| condos | 3 | 4 | 2,049 | $18,900 | 2025-04-07 | — | |
| 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 | 3 | 2,049 | $40,000 | 2026-08-10 | — | |
| condos | 3 | 3 | 2,034 | $40,000 | 2025-06-02 | — | |
| condos | 3 | 3 | 2,049 | $28,000 | 2021-04-24 | — | |
| condos | 3 | 3 | 2,049 | $32,000 | 2026-06-09 | — | |
| condos | 3 | 4 | 2,744 | $28,000 | 2026-04-10 | — | |
| apartment | 3 | 4 | 2,744 | $30,000 | 2026-04-06 | — | |
| condos | 3 | 3 | 1,875 | $40,000 | 2026-06-17 | — | |
| condos | 3 | 3 | 2,049 | $27,000 | 2025-11-08 | — | |
| condos | 3 | 3 | 2,034 | $29,000 | 2024-06-30 | — |
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 |
|---|---|---|---|---|---|---|
| 2443 Fisher Island Dr Unit 5403 | condos | 3 | 4 | 3,227 | $5,250,000 | — |
| 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 | — |
| 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-8.4%
Equity multiple-0.43x
Total return (10yr)-$1,756,337
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $7,982,500 | -$40,170 | -$535,984 | $6,132,778 | $1,849,722 |
| 2 | $8,221,975 | -$39,546 | -$535,803 | $6,060,940 | $2,161,035 |
| 3 | $8,468,634 | -$38,857 | -$535,568 | $5,984,169 | $2,484,465 |
| 4 | $8,722,693 | -$38,101 | -$535,277 | $5,902,126 | $2,820,567 |
| 5 | $8,984,374 | -$37,274 | -$534,926 | $5,814,449 | $3,169,925 |
| 6 | $9,253,905 | -$36,373 | -$534,514 | $5,720,751 | $3,533,154 |
| 7 | $9,531,522 | -$35,395 | -$534,036 | $5,620,619 | $3,910,904 |
| 8 | $9,817,468 | -$34,335 | -$533,490 | $5,513,610 | $4,303,858 |
| 9 | $10,111,992 | -$33,191 | -$532,871 | $5,399,253 | $4,712,739 |
| 10 | $10,415,352 | -$31,958 | -$532,177 | $5,277,043 | $5,138,309 |
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.