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900 Brickell Key Blvd Apt 1002

Miami, FL 33131 · condos · For Sale · 925 days on market
Asking price$3,530,000
5 beds 7 baths 3,608 sqft
Suggested offer$3,419,900$110,100 above the est. market value of $3,419,900.
View on Realtor.com →
Listed by Lupita Peterfy-Shaya · BHHS EWM Realty
Typecondos
Built—
Price / sqft$978
Est. value (Realtor.com)$3,419,900
Rent estimate (own analysis)$42,250/mo
HOA$6,493/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2024-02-20
Removed date—
MLSMiamiMLS #A11536506
Coordinates25.76899, -80.18560
Address900 Brickell Key Blvd Apt 1002
CityMiami
StateFL
Zip33131
Listing ID6518041746
Sourcerealtor, cached 2026-08-21

ZIP market snapshot (33131)

Typical home value (ZHVI)$587,486
Typical rent (ZORI)$3,815/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$3,530,000
Down payment (20.0%)$706,000
Loan amount$2,824,000
Closing costs (5.0%)$176,500
Total cash to close$882,500
Income
Rent (comp-derived)$42,250$507,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$507,000
Vacancy rate (assumption) assumption8.0%

$507,000 × 8.0% = $40,560

Effective gross income$38,870$466,440
Operating expenses
Property tax (real MLS tax bill, from Realtor Search)$3,982$47,786
Insurance (est. scaled by flood & wind risk)$5,177$62,128
HOA dues$6,493$77,916
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$2,113$25,350
Total operating expenses$17,765$213,180
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$466,440
Total operating expenses derived$213,180

$466,440 − $213,180 = $253,260

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$2,824,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$2,824,000 amortized at 6.7% over 30 years = $18,148/mo

CapEx reserve (5.0% of GSR)$2,113$25,350
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$253,260
Annual debt service derived$217,773
Annual CapEx reserve assumption$25,350
Annual PMI assumption$0

($253,260 − $217,773 − $25,350 − $0) ÷ 12 = $845

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$253,260
Purchase price data$3,530,000

$253,260 ÷ $3,530,000 = 7.2%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived$10,137
Total cash to close derived$882,500

$10,137 ÷ $882,500 = 1.1%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$253,260
Annual debt service derived$217,773

$253,260 ÷ $217,773 = 1.16

Rent-to-price (1% rule)

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

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$507,000
Purchase price data$3,530,000

($507,000 ÷ 12) ÷ $3,530,000 = 1.2%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$3,530,000
Gross scheduled rent (annual) comp$507,000

$3,530,000 ÷ $507,000 = 7.0

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$213,180
Effective gross income derived$466,440

$213,180 ÷ $466,440 = 45.7%

Break-even occupancy

Break-Even Occupancy

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

Total operating expenses derived$213,180
Annual debt service derived$217,773
Annual PMI assumption$0
Gross scheduled rent (annual) comp$507,000

($213,180 + $217,773 + $0) ÷ $507,000 = 85.0%

Comparables

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

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos563,575$39,5002026-08-05—
condos563,978$45,0002026-06-29—
condos573,608$18,0002026-06-08—
condos553,420$14,8002026-07-30—
condos563,004$12,5502026-04-15—
condos574,770$49,0002026-08-31—
condos563,663$45,0002026-04-10—
condos574,770$49,0002026-09-02—

300 Biscayne Boulevard Way Unit 4201E

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,575
Listed2026-08-05
Days on market—

Asking rent: $39,500

View on Zillow →

300 Biscayne Boulevard Way Apt 2701

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,978
Listed2026-06-29
Days on market—

Asking rent: $45,000

View on Zillow →

900 Brickell Key Blvd Apt 1002

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage3,608
Listed2026-06-08
Days on market—

Asking rent: $18,000

View on Zillow →

1402 Brickell Bay Dr Apt 1601

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 5 ba
Square footage3,420
Listed2026-07-30
Days on market—

Asking rent: $14,800

View on Zillow →

244 Biscayne Blvd Unit UPH4904

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,004
Listed2026-04-15
Days on market—

Asking rent: $12,550

View on Zillow →

465 Brickell Ave Apt 5701

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage4,770
Listed2026-08-31
Days on market—

Asking rent: $49,000

View on Zillow →

300 Biscayne Boulevard Way Unit 2601E

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage3,663
Listed2026-04-10
Days on market—

Asking rent: $45,000

View on Zillow →

465 Brickell Ave

Miami, 33131 · rent comp

Bedrooms / bathrooms5 bd / 7 ba
Square footage4,770
Listed2026-09-02
Days on market—

Asking rent: $49,000

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
1425 Brickell Ave Unit 44A-Bcondos553,820$3,900,0002026-04-24
300 Biscayne Blvd Way Apt 4401condos563,854$5,100,0002026-04-17
1000 Brickell Plz Unit UPH6201condos597,855$8,600,0002026-03-31

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
300 Biscayne Boulevard Way Apt 2701condos563,978$7,400,000—
300 Biscayne Boulevard Way Unit 3304Ccondos563,214$4,475,000—
300 Biscayne Blvd Way Apt 4602condos564,434$9,000,000—
300 Biscayne Blvd Way Apt 1901condos563,560$6,750,000—
465 Brickell Ave Apt 5701condos574,770$12,999,000—
99 SE 5th St Unit UPH7201condos5109,074$31,760,000—
300 Biscayne Blvd Way Apt 3201condos563,994$7,590,000—
808 Brickell Key Dr Apt 3901condos565,097$4,995,000—

10-year hold projection

IRR12.2%
Equity multiple2.89x
Total return (10yr)$2,131,552
YearProperty valueNOICash flowLoan balanceEquity
1$3,635,900$253,260$10,137$2,793,382$842,518
2$3,744,977$261,924$18,167$2,760,661$984,316
3$3,857,326$270,874$26,467$2,725,693$1,131,634
4$3,973,046$280,120$35,048$2,688,323$1,284,723
5$4,092,237$289,672$43,916$2,648,388$1,443,849
6$4,215,005$299,538$53,084$2,605,710$1,609,294
7$4,341,455$309,730$62,559$2,560,102$1,781,353
8$4,471,698$320,258$72,352$2,511,361$1,960,337
9$4,605,849$331,133$82,473$2,459,273$2,146,576
10$4,744,025$342,366$92,934$2,403,609$2,340,416
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.