9349 Collins Ave Apt 406
Surfside, FL 33154 · condos · For Sale · 350 days on market
Asking price$22,500,000
4 beds 7 baths 5,720 sqft
Suggested offer$6,447,984$16,052,016 above the est. market value of $6,447,984.
View on Realtor.com →Listed by Mendel Fellig · COMPASS
Typecondos
Built2016
Price / sqft$3934
Est. value (own analysis)$6,447,984
Rent estimate (own analysis)$18,375/mo
HOA$14,699/mo
1 / 49
Show every detail
Statusfor_sale
Listed date2025-09-17
Removed date—
MLSMiamiMLS #A11878687
Coordinates25.88302, -80.12169
Address9349 Collins Ave Apt 406
CitySurfside
StateFL
Zip33154
Listing ID6703151372
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33154)
Typical home value (ZHVI)$1,230,561
Typical rent (ZORI)$4,738/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 | $22,500,000 |
| Down payment (20.0%) | $4,500,000 |
| Loan amount | $18,000,000 |
| Closing costs (5.0%) | $1,125,000 |
| Total cash to close | $5,625,000 |
| Income | |
| Rent (comp-derived) | $18,375$220,500 |
| Vacancy loss (8.0%) | |
| Effective gross income | $16,905$202,860 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $35,625$427,500 |
| Insurance (placeholder 0.8% of price) | $15,000$180,000 |
| HOA dues | $14,699$176,388 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $919$11,025 |
| Total operating expenses | $66,243$794,913 |
| 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) | $919$11,025 |
| 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 | 4 | 4 | 2,277 | $8,999 | 2026-08-10 | — | |
| condos | 4 | 4 | 2,918 | $15,000 | 2025-12-10 | — | |
| condos | 4 | 5 | 2,838 | $10,000 | 2025-11-25 | — | |
| condos | 4 | 4 | 2,918 | $20,000 | 2024-01-16 | — | |
| condos | 4 | 4 | 2,620 | $11,500 | 2026-07-30 | — | |
| condos | 4 | 4 | 4,798 | $85,000 | 2026-06-18 | — | |
| condos | 4 | 3 | 2,300 | $10,000 | 2026-06-04 | — | |
| condos | 4 | 5 | 3,337 | $55,000 | 2026-07-06 | — | |
| condos | 4 | 5 | 3,300 | $25,000 | 2026-08-11 | — | |
| condos | 4 | 5 | 2,497 | $16,750 | 2026-06-17 | — | |
| condos | 4 | 5 | 2,502 | $25,000 | 2026-02-23 | — | |
| condos | 4 | 4 | 4,798 | $85,000 | 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 |
|---|---|---|---|---|---|---|
| 9001 Collins Ave Unit S1003 | condos | 4 | 6 | 4,235 | $30,250,000 | 2026-08-17 |
| 1135 103rd St Apt 606 | condos | 4 | 5 | 3,523 | $4,200,000 | 2026-06-05 |
| 9111 Collins Ave Unit N721 | condos | 4 | 4 | 5,321 | $27,319,500 | 2026-05-29 |
| 1174 98th St Unit 1174 | condos | 4 | 3 | 2,541 | $1,250,000 | 2026-04-08 |
| 8701 Collins Ave Unit 1601 | condos | 4 | 4 | 3,525 | $14,000,000 | 2026-03-31 |
| 1135 103rd St Ph 3 | condos | 4 | 5 | 4,401 | $7,000,000 | 2026-03-11 |
| 10155 Collins Ave Apt 606 | condos | 4 | 4 | 2,540 | $2,350,000 | 2026-02-25 |
| 9940 W Bay Harbor Dr Unit 7G-N | condos | 4 | 5 | 3,717 | $3,400,000 | 2026-02-13 |
| 9751 E Bay Harbor Dr Unit PHSB1604 | condos | 4 | 4 | 3,327 | $2,100,000 | 2026-02-06 |
| 9001 Collins Ave Unit S305 | condos | 4 | 6 | 4,323 | $17,000,000 | 2026-01-30 |
| 10225 Collins Renovated Ave Unit 604 | condos | 4 | 4 | 2,918 | $3,100,000 | 2025-12-31 |
| 10175 Collins Ave Unit 1707/1708 | condos | 4 | 6 | 3,934 | $2,450,000 | 2025-12-18 |
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 |
|---|---|---|---|---|---|---|
| 8819 Dickens Ave | single_family | 4 | 3 | 1,469 | $2,085,000 | — |
| 9705 Collins Ave Unit 501N | condos | 4 | 4 | 3,524 | $6,250,000 | — |
| 8950 Harding Ave | single_family | 4 | 3 | 1,917 | $1,599,000 | — |
| 9156 Froude Ave | single_family | 4 | 2 | 1,967 | $1,595,000 | — |
| 1000 99th St Unit 14 | townhomes | 4 | 5 | 2,519 | $1,750,000 | — |
| 9450 E Broadview Dr | single_family | 4 | 4 | 3,435 | $4,700,000 | — |
| 9172 Carlyle Ave | single_family | 4 | 3 | 2,239 | $3,495,000 | — |
| 10155 Collins Ave Apt 202 | condos | 4 | 5 | 3,300 | $5,375,000 | — |
10-year hold projection
IRR-13.5%
Equity multiple-1.33x
Total return (10yr)-$10,166,740
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $23,175,000 | -$592,053 | -$1,991,152 | $17,804,840 | $5,370,160 |
| 2 | $23,870,250 | -$605,840 | -$2,005,215 | $17,596,278 | $6,273,972 |
| 3 | $24,586,358 | -$619,941 | -$2,019,599 | $17,373,394 | $7,212,963 |
| 4 | $25,323,948 | -$634,364 | -$2,034,311 | $17,135,204 | $8,188,744 |
| 5 | $26,083,667 | -$649,115 | -$2,049,358 | $16,880,658 | $9,203,009 |
| 6 | $26,866,177 | -$664,201 | -$2,064,749 | $16,608,631 | $10,257,545 |
| 7 | $27,672,162 | -$679,630 | -$2,080,490 | $16,317,925 | $11,354,237 |
| 8 | $28,502,327 | -$695,410 | -$2,096,589 | $16,007,255 | $12,495,072 |
| 9 | $29,357,397 | -$711,547 | -$2,113,054 | $15,675,251 | $13,682,146 |
| 10 | $30,238,119 | -$728,051 | -$2,129,894 | $15,320,448 | $14,917,671 |
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.