255 W 24th St Apt 208
Miami Beach, FL 33140 · condos · For Sale · 12 days on market
Asking price$164,000
0 beds 1 baths 270 sqft
Suggested offer$162,000$2,000 above the est. market value of $162,000.
View on Realtor.com →Listed by Debi Quade · Cervera Real Estate Inc.
Typecondos
Built1941
Price / sqft$607
Est. value (own analysis)$162,000
Rent estimate (own analysis)$1,700/mo
HOA$760/mo
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Statusfor_sale
Listed date2026-08-21
Removed date—
MLSMiamiMLS #A12075658
Coordinates25.80095, -80.12803
Address255 W 24th St Apt 208
CityMiami Beach
StateFL
Zip33140
Listing ID6645379534
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 | $164,000 |
| Down payment (20.0%) | $32,800 |
| Loan amount | $131,200 |
| Closing costs (5.0%) | $8,200 |
| Total cash to close | $41,000 |
| Income | |
| Rent (comp-derived) | $1,700$20,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,564$18,768 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $260$3,116 |
| Insurance (placeholder 0.8% of price) | $109$1,312 |
| HOA dues | $760$9,120 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $85$1,020 |
| Total operating expenses | $1,214$14,568 |
| 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) | $85$1,020 |
| 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 | 0 | 1 | 260 | $1,575 | 2026-05-19 | — | |
| condos | 0 | 1 | 315 | $1,450 | 2026-06-09 | — | |
| condos | 0 | 1 | 340 | $1,700 | 2026-08-04 | — | |
| condos | 0 | 1 | 260 | $1,750 | 2026-07-13 | — | |
| condos | 0 | 1 | 230 | $1,700 | 2026-08-16 | — | |
| apartment | 0 | 1 | 310 | $1,800 | 2026-05-19 | — | |
| condos | 0 | 1 | 352 | $1,745 | 2026-07-22 | — | |
| condos | 0 | 1 | 315 | $1,600 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 4201 Indian Creek Dr Apt 2 | condos | 0 | 1 | 400 | $190,000 | 2026-08-07 |
| 4391 Collins Ave Unit 1814 | condos | 0 | 1 | 538 | $830,000 | 2026-08-06 |
| 5255 Collins Ave Unit CU10 | condos | 0 | — | 118 | $55,000 | 2026-07-15 |
| 5445 Collins Ave Apt 610 | condos | 0 | 1 | 400 | $215,000 | 2026-07-10 |
| 255 W 24th St Apt 233 | condos | 0 | 1 | 290 | $180,000 | 2026-06-18 |
| 255 W 24th St Apt 306 | condos | 0 | 1 | 300 | $255,000 | 2026-06-12 |
| 4141 Nautilus Dr Apt 7J | condos | 0 | — | 757 | $287,500 | 2026-06-05 |
| 4130 Collins Ave Unit 703 | condos | 0 | 1 | 300 | $260,000 | 2026-05-21 |
| 2899 Collins Ave Apt 810 | condos | 0 | 1 | 566 | $272,500 | 2026-05-19 |
| 4401 Collins Ave Unit 2701 | condos | 0 | 1 | 516 | $936,000 | 2026-05-12 |
| 255 W 24th St Apt 501 | condos | 0 | 1 | 290 | $190,000 | 2026-05-07 |
| 4391 Collins Ave Unit 1914 | condos | 0 | 1 | 538 | $885,000 | 2026-04-30 |
| 2899 Collins Ave Apt 1234 | condos | 0 | 1 | 566 | $245,000 | 2026-04-10 |
| 2421 Lake Pancoast Dr Apt 2C | condos | 0 | 1 | 545 | $305,000 | 2026-04-10 |
| 4401 Collins Ave Unit 2108 | condos | 0 | 1 | 526 | $830,000 | 2026-03-24 |
| 4775 Collins Ave Unit CA-A14 | condos | 0 | 1 | 190 | $281,500 | 2026-03-12 |
| 4201 Indian Creek Dr Apt 8 | condos | 0 | 1 | 400 | $200,000 | 2026-03-12 |
| 2899 Collins Ave Apt 931 | condos | 0 | 1 | 518 | $280,000 | 2026-03-04 |
| 4015 Indian Creek Dr Apt 102 | condos | 0 | 1 | 396 | $180,000 | 2026-02-06 |
| 2899 Collins Ave Apt 1233 | condos | 0 | 1 | 566 | $302,500 | 2026-01-09 |
| 2899 Collins Ave Apt 833 | condos | 0 | 1 | 566 | $306,000 | 2026-01-07 |
| 4391 Collins Ave Unit 1717 | condos | 0 | 1 | 538 | $826,000 | 2025-12-22 |
| 4401 Collins Ave Unit 1408 | condos | 0 | 1 | 526 | $810,000 | 2025-12-18 |
| 2899 Collins Ave Apt 1715 | condos | 0 | 1 | 600 | $360,000 | 2025-12-12 |
| 4391 Collins Ave Unit 719 | condos | 0 | 1 | 824 | $940,500 | 2025-12-11 |
| 2899 Collins Ave Apt 1516 | condos | 0 | 1 | 600 | $322,500 | 2025-12-11 |
| 5445 Collins Ave Apt 1607 | condos | 0 | 1 | 390 | $240,000 | 2025-12-02 |
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 |
|---|---|---|---|---|---|---|
| 4391 Collins Ave Unit 1403 | condos | 0 | 1 | 544 | $1,079,000 | — |
| 5445 Collins Ave Ste CU26 | condos | 0 | — | 260 | $125,000 | — |
| 2899 Collins Ave Unit 6 | condos | 0 | 1 | 112 | $111,000 | — |
| 5445 Collins Ave Apt 729 | condos | 0 | 1 | 400 | $429,000 | — |
| 5055 Collins Ave Unit CAB14 | condos | 0 | — | 152 | $95,000 | — |
| 4391 Collins Ave Unit 803 | condos | 0 | 1 | 544 | $825,000 | — |
| 2899 Collins Ave Apt 1734 | condos | 0 | 1 | 566 | $294,400 | — |
| 4015 Indian Creek Dr Apt 106 | condos | 0 | 1 | 401 | $229,000 | — |
10-year hold projection
IRR-0.9%
Equity multiple0.85x
Total return (10yr)$15,274
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $168,920 | $4,200 | -$6,938 | $129,777 | $39,143 |
| 2 | $173,988 | $4,399 | -$6,764 | $128,257 | $45,730 |
| 3 | $179,207 | $4,605 | -$6,584 | $126,633 | $52,575 |
| 4 | $184,583 | $4,820 | -$6,396 | $124,896 | $59,687 |
| 5 | $190,121 | $5,043 | -$6,200 | $123,041 | $67,080 |
| 6 | $195,825 | $5,275 | -$5,997 | $121,058 | $74,766 |
| 7 | $201,699 | $5,516 | -$5,785 | $118,939 | $82,760 |
| 8 | $207,750 | $5,766 | -$5,565 | $116,675 | $91,076 |
| 9 | $213,983 | $6,025 | -$5,335 | $114,255 | $99,728 |
| 10 | $220,402 | $6,295 | -$5,097 | $111,669 | $108,734 |
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.