9400 W Bay Harbor Dr Apt 101
Bay Harbor Islands, FL 33154 · condos · For Sale · 83 days on market
Asking price$2,250,000
4 beds 5 baths 2,483 sqft
Listed by Ashley Cusack · BHHS EWM Realty
Typecondos
Built2013
Price / sqft$906
Est. value (own analysis)$2,799,011
Rent estimate (own analysis)$15,875/mo
HOA$3,205/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-06-11
Removed date—
MLSMiamiMLS #A12035638
Coordinates25.88486, -80.13345
Address9400 W Bay Harbor Dr Apt 101
CityBay Harbor Islands
StateFL
Zip33154
Listing ID6820329222
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 | $2,250,000 |
| Down payment (20.0%) | $450,000 |
| Loan amount | $1,800,000 |
| Closing costs (5.0%) | $112,500 |
| Total cash to close | $562,500 |
| Income | |
| Rent (comp-derived) | $15,875$190,500 |
| Vacancy loss (8.0%) | |
| Effective gross income | $14,605$175,260 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,563$42,750 |
| Insurance (est. scaled by flood & wind risk) | $3,300$39,600 |
| HOA dues | $3,205$38,460 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $794$9,525 |
| Total operating expenses | $10,861$130,335 |
| 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) | $794$9,525 |
| 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 | 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 | — |
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-2.1%
Equity multiple0.65x
Total return (10yr)$95,947
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,317,500 | $44,925 | -$103,407 | $1,780,484 | $537,016 |
| 2 | $2,387,025 | $46,924 | -$101,646 | $1,759,628 | $627,397 |
| 3 | $2,458,636 | $49,000 | -$99,814 | $1,737,340 | $721,296 |
| 4 | $2,532,395 | $51,155 | -$97,910 | $1,713,521 | $818,874 |
| 5 | $2,608,367 | $53,391 | -$95,930 | $1,688,066 | $920,301 |
| 6 | $2,686,618 | $55,712 | -$93,872 | $1,660,864 | $1,025,754 |
| 7 | $2,767,216 | $58,121 | -$91,732 | $1,631,793 | $1,135,423 |
| 8 | $2,850,233 | $60,620 | -$89,509 | $1,600,726 | $1,249,507 |
| 9 | $2,935,740 | $63,214 | -$87,199 | $1,567,526 | $1,368,214 |
| 10 | $3,023,812 | $65,904 | -$84,799 | $1,532,046 | $1,491,766 |
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.