3 Grove Isle Dr Unit C1402
Miami, FL 33133 · condos · For Sale · 30 days on market
Asking price$3,100,000
3 beds 2 baths 2,398 sqft
Listed by Ashley Cusack · BHHS EWM Realty
Typecondos
Built1981
Price / sqft$1293
Est. value (own analysis)$3,148,889
Rent estimate (own analysis)$15,700/mo
HOA$3,618/mo
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Statusfor_sale
Listed date2026-08-03
Removed date—
MLSMiamiMLS #A12064634
Coordinates25.73513, -80.21875
Address3 Grove Isle Dr Unit C1402
CityMiami
StateFL
Zip33133
Listing ID6538279844
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33133)
Typical home value (ZHVI)$1,352,044
Typical rent (ZORI)$3,793/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 | $3,100,000 |
| Down payment (20.0%) | $620,000 |
| Loan amount | $2,480,000 |
| Closing costs (5.0%) | $155,000 |
| Total cash to close | $775,000 |
| Income | |
| Rent (comp-derived) | $15,700$188,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $14,444$173,328 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $4,908$58,900 |
| Insurance (placeholder 0.8% of price) | $2,067$24,800 |
| HOA dues | $3,618$43,416 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $785$9,420 |
| Total operating expenses | $11,378$136,536 |
| 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) | $785$9,420 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 3 | 2 | 2,027 | $3,400 | 2026-08-18 | — | |
| apartment | 3 | 2 | 1,800 | $3,300 | 2026-08-12 | — | |
| condos | 3 | 4 | 2,404 | $30,000 | 2026-08-12 | — | |
| condos | 3 | 4 | 2,532 | $29,500 | 2026-08-10 | — | |
| condos | 3 | 3 | 1,682 | $10,500 | 2026-08-07 | — | |
| condos | 3 | 3 | 1,759 | $9,500 | 2026-08-05 | — | |
| condos | 3 | 3 | 1,751 | $9,000 | 2026-07-21 | — | |
| condos | 3 | 4 | 2,640 | $23,500 | 2026-07-19 | — | |
| condos | 3 | 5 | 3,054 | $24,000 | 2026-07-15 | — | |
| condos | 3 | 4 | 2,532 | $35,000 | 2026-07-14 | — | |
| condos | 3 | 4 | 1,661 | $24,000 | 2026-07-10 | — | |
| condos | 3 | 4 | 3,233 | $45,000 | 2026-07-09 | — | |
| apartment | 3 | 4 | 1,711 | $22,000 | — | — | |
| condos | 3 | 4 | 2,240 | $16,500 | 2026-06-23 | — | |
| condos | 3 | 4 | 2,112 | $9,600 | 2026-06-18 | — | |
| condos | 3 | 4 | 1,603 | $21,000 | 2026-06-11 | — | |
| condos | 3 | 3 | 2,424 | $15,500 | 2026-06-09 | — | |
| condos | 3 | 3 | 2,614 | $15,700 | 2026-05-08 | — | |
| condos | 3 | 4 | 2,433 | $35,000 | 2026-05-05 | — | |
| condos | 3 | 3 | 1,644 | $8,500 | 2026-05-01 | — | |
| condos | 3 | 3 | 2,614 | $18,000 | 2026-08-03 | — | |
| condos | 3 | 2 | 1,587 | $4,950 | 2026-07-31 | — | |
| condos | 3 | 3 | 2,614 | $11,000 | 2026-07-30 | — | |
| condos | 3 | 4 | 1,845 | $23,500 | 2026-04-07 | — | |
| apartment | 3 | 3 | 1,650 | $4,200 | — | — | |
| condos | 3 | 3 | 1,570 | $6,250 | 2026-08-27 | — | |
| condos | 3 | 4 | 2,010 | $9,500 | 2026-04-28 | — | |
| condos | 3 | 4 | 3,165 | $25,000 | 2026-06-16 | — | |
| apartment | 3 | 3 | 1,562 | $8,794 | 2026-09-02 | — |
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 |
|---|---|---|---|---|---|---|
| 2678 Tigertail Ave Apt 1202 | condos | 3 | 4 | 1,646 | $2,700,000 | 2026-08-19 |
| 3400 SW 27th Ave Apt 2102 | condos | 3 | 3 | 2,114 | $3,500,000 | 2026-08-10 |
| 1 Grove Isle Dr Unit A1809 | condos | 3 | 3 | 2,614 | $3,100,000 | 2026-08-04 |
| 2627 S Bayshore Dr Apt 2904 | condos | 3 | 4 | 2,640 | $6,050,000 | 2026-07-31 |
| 2678 Tigertail Ave Apt 701 | condos | 3 | 4 | 1,661 | $3,200,000 | 2026-07-10 |
| 2841 Day Ave Unit 2841 | condos | 3 | 3 | 2,590 | $1,775,000 | 2026-07-01 |
| 2655 S Bayshore Dr Apt 1212 | condos | 3 | 4 | 1,694 | $3,150,000 | 2026-06-26 |
| 3 Grove Isle Dr Unit C1802 | condos | 3 | 3 | 2,398 | $2,020,000 | 2026-06-16 |
| 2678 Tigertail Ave Apt 702 | condos | 3 | 4 | 1,696 | $2,595,000 | 2026-06-15 |
| 1 Grove Isle Dr Unit A1110 | condos | 3 | 3 | 2,424 | $2,000,000 | 2026-06-04 |
| 2889 McFarlane Rd Unit 1001 | condos | 3 | 4 | 1,515 | $1,250,000 | 2026-04-30 |
| 5 Grove Isle Dr Apt S502 | condos | 3 | 4 | 2,622 | $6,500,000 | 2026-04-27 |
| 2821 S Bayshore Dr Unit LPH-D | condos | 3 | 4 | 2,558 | $6,250,000 | 2026-04-23 |
| 10 Edgewater Dr Apt 4F | condos | 3 | 4 | 2,950 | $2,225,000 | 2026-04-10 |
| 2655 S Bayshore Dr Unit LPH2012 | condos | 3 | 4 | 1,662 | $3,535,000 | 2026-04-07 |
| 2000 S Bayshore Dr Apt 72 | condo_townhome_rowhome_coop | 3 | 4 | 3,638 | $1,865,000 | 2026-03-30 |
| 2627 S Bayshore Dr Apt 903 | condos | 3 | 4 | 2,640 | $4,100,000 | 2026-03-17 |
| 10 Edgewater Dr Apt 16K | condos | 3 | 5 | 5,230 | $6,200,000 | 2026-03-17 |
| 2655 S Bayshore Dr Apt 1602 | condos | 3 | 5 | — | $6,250,000 | 2026-02-25 |
| 2831 S Bayshore Dr Unit 403 | condos | 3 | 3 | 1,679 | $2,800,000 | 2026-02-24 |
| 2575 S Bayshore Dr Apt 15B | condos | 3 | 2 | 1,759 | $1,525,000 | 2026-02-23 |
| 5 Grove Isle Dr Apt S501 | condos | 3 | 4 | 2,622 | $6,500,000 | 2026-02-20 |
| 10 Edgewater Dr Ph C | condos | 3 | 4 | 2,970 | $3,900,000 | 2026-02-19 |
| 2811 S Bayshore Dr Unit 4C | condos | 3 | 3 | 2,232 | $3,875,000 | 2026-02-05 |
| 2655 S Bayshore Dr Apt 401 | condos | 3 | 4 | 1,699 | $2,550,000 | 2026-01-26 |
| 1 Grove Isle Dr Unit A910 | condos | 3 | 3 | 2,424 | $2,995,000 | 2026-01-15 |
| 2655 S Bayshore Dr Apt 902 | condos | 3 | 4 | 2,623 | $6,000,000 | 2025-12-30 |
| 2678 Tigertail Ave Apt 1706 | condos | 3 | 3 | 2,058 | $3,200,000 | 2025-12-23 |
| 60 Edgewater Dr Apt 7H | condos | 3 | 4 | 2,960 | $2,134,000 | 2025-11-25 |
| 60 Edgewater Dr Apt 9H | condos | 3 | 3 | 2,960 | $2,550,000 | 2025-11-21 |
| 2843 S Bayshore Dr Apt P3C &D | condos | 3 | 5 | 4,236 | $3,592,000 | 2025-11-17 |
| 111 Edgewater Dr Apt 1A | condos | 3 | 3 | 1,900 | $1,100,000 | 2025-10-24 |
| 3136 Virginia St | condos | 3 | 3 | 1,480 | $830,000 | 2025-10-03 |
| 2 Grove Isle Dr Unit B502 | condos | 3 | 2 | 2,398 | $2,289,000 | 2025-09-26 |
| 2655 S Bayshore Dr Apt 1512 | condos | 3 | 4 | 1,662 | $2,675,000 | 2025-09-25 |
| 1 Grove Isle Dr Unit A409 | condos | 3 | 3 | 2,614 | $1,700,000 | 2025-09-08 |
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 |
|---|---|---|---|---|---|---|
| 3350 SW 27th Ave Apt 1802 | condos | 3 | 3 | 2,522 | $3,100,000 | — |
| 3 Grove Isle Dr Unit C410 | condos | 3 | 3 | 2,424 | $2,695,000 | — |
| 2678 Tigertail Ave Apt 401 | condos | 3 | 4 | 1,811 | $3,250,000 | — |
| 2901 S Bayshore Dr Apt 1B | condos | 3 | 2 | 1,587 | $1,985,000 | — |
| 3431 SW 25th St | single_family | 3 | 2 | 1,296 | $740,000 | — |
| 2155 SW 25th Ter | single_family | 3 | 3 | 1,628 | $1,429,000 | — |
| 2678 Tigertail Ave Apt 1806 | condos | 3 | 4 | 2,058 | $3,995,000 | — |
| 2 Grove Isle Dr Unit B1109 | condos | 3 | 3 | 2,614 | $2,900,000 | — |
10-year hold projection
IRR-4.1%
Equity multiple0.32x
Total return (10yr)-$125,324
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $3,193,000 | $36,792 | -$163,874 | $2,453,111 | $739,889 |
| 2 | $3,288,790 | $38,578 | -$162,323 | $2,424,376 | $864,414 |
| 3 | $3,387,454 | $40,436 | -$160,707 | $2,393,668 | $993,786 |
| 4 | $3,489,077 | $42,366 | -$159,024 | $2,360,850 | $1,128,227 |
| 5 | $3,593,750 | $44,372 | -$157,272 | $2,325,779 | $1,267,970 |
| 6 | $3,701,562 | $46,457 | -$155,447 | $2,288,300 | $1,413,262 |
| 7 | $3,812,609 | $48,623 | -$153,547 | $2,248,247 | $1,564,362 |
| 8 | $3,926,987 | $50,873 | -$151,570 | $2,205,444 | $1,721,543 |
| 9 | $4,044,797 | $53,211 | -$149,512 | $2,159,701 | $1,885,096 |
| 10 | $4,166,141 | $55,639 | -$147,371 | $2,110,817 | $2,055,324 |
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.