224 S Island
Golden Beach, FL 33160 · single_family · For Sale · 385 days on market
Asking price$17,975,000
4 beds 6 baths 5,510 sqft
Suggested offer$6,107,935$11,867,065 above the est. market value of $6,107,935.
View on Realtor.com →Listed by Alan Eskenazi Bone · Miles Goldstein Real Estate
Typesingle_family
Built1993
Price / sqft$3262
Est. value (own analysis)$6,107,935
Rent estimate (own analysis)$25,000/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeAir2/10MinorFlood1/10minimal$Wildfire1/10Minimal
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Statusfor_sale
Listed date2025-08-13
Removed date—
MLSMiamiMLS #A11857572
Coordinates25.96155, -80.12294
Address224 S Island
CityGolden Beach
StateFL
Zip33160
Listing ID6909511822
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33160)
Typical home value (ZHVI)$518,452
Typical rent (ZORI)$3,079/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 | $17,975,000 |
| Down payment (20.0%) | $3,595,000 |
| Loan amount | $14,380,000 |
| Closing costs (5.0%) | $898,750 |
| Total cash to close | $4,493,750 |
| Income | |
| Rent (comp-derived) | $25,000$300,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $23,000$276,000 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $28,460$341,525 |
| Insurance (est. scaled by flood & wind risk) | $17,975$215,700 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,250$15,000 |
| Total operating expenses | $47,685$572,225 |
| 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) | $1,250$15,000 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 4 | 3 | 1,852 | $4,990 | 2026-08-14 | — | |
| single_family | 4 | 4 | 3,312 | $27,500 | 2026-08-24 | — | |
| single_family | 4 | 4 | 2,982 | $25,000 | 2026-08-17 | — | |
| single_family | 4 | 3 | 2,372 | $11,900 | 2025-11-30 | — | |
| single_family | 4 | 4 | 3,361 | $13,000 | 2026-07-11 | — | |
| single_family | 4 | 5 | 4,929 | $55,000 | 2024-11-25 | — | |
| single_family | 4 | 4 | 2,971 | $26,500 | 2026-03-25 | — |
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 |
|---|---|---|---|---|---|---|
| 204 191st St | single_family | 4 | 3 | 2,632 | $2,200,000 | 2026-08-27 |
| 3428 NE 169th St | single_family | 4 | 3 | 2,632 | $2,200,000 | 2026-05-26 |
| 19140 N Bay Rd | single_family | 4 | 3 | 3,428 | $3,800,000 | 2026-05-19 |
| 3400 NE 165th St | single_family | 4 | 3 | 2,502 | $3,000,000 | 2026-05-11 |
| 1504 Island Blvd | single_family | 4 | 4 | 5,628 | $3,600,000 | 2026-05-08 |
| 530 Ocean Blvd | single_family | 4 | 5 | 3,920 | $3,180,000 | 2026-04-28 |
| 200 188th St | single_family | 4 | 2 | 2,099 | $1,700,000 | 2026-02-23 |
| 147 Golden Beach Dr | single_family | 4 | 3 | 2,256 | $3,300,000 | 2026-02-02 |
| 685 Golden Beach Dr | single_family | 4 | 3 | 3,323 | $3,700,000 | 2026-01-20 |
| 2925 NE 164th St | single_family | 4 | 2 | 2,938 | $4,000,000 | 2025-12-11 |
| 4042 Island Estates Dr | single_family | 4 | 8 | 7,796 | $12,450,000 | 2025-12-11 |
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 |
|---|---|---|---|---|---|---|
| 333 Atlantic Ave | single_family | 4 | 4 | 2,426 | $11,999,000 | — |
| 3949 194th Ln | single_family | 4 | 4 | 2,353 | $2,259,000 | — |
| 3341 NE 170th St | single_family | 4 | 3 | 3,556 | $3,500,000 | — |
| 18555 Collins Ave Apt 3301 | condos | 4 | 5 | 4,154 | $6,500,000 | — |
| 329 Poinciana Dr Unit 909 | condos | 4 | 3 | 2,425 | $1,190,000 | — |
| 17475 Collins Ave Ph 3201 | condos | 4 | 8 | 9,051 | $23,990,000 | — |
| 17875 Collins Ave Ph 4506 | condos | 4 | 7 | 6,419 | $13,495,000 | — |
| 2349 NE 173rd St | single_family | 4 | 3 | 1,432 | $839,000 | — |
10-year hold projection
IRR-11.1%
Equity multiple-0.90x
Total return (10yr)-$6,181,485
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $18,514,250 | -$296,225 | -$1,420,142 | $14,224,089 | $4,290,161 |
| 2 | $19,069,678 | -$302,251 | -$1,426,543 | $14,057,471 | $5,012,206 |
| 3 | $19,641,768 | -$308,385 | -$1,433,062 | $13,879,412 | $5,762,356 |
| 4 | $20,231,021 | -$314,631 | -$1,439,701 | $13,689,125 | $6,541,896 |
| 5 | $20,837,951 | -$320,989 | -$1,446,463 | $13,485,770 | $7,352,181 |
| 6 | $21,463,090 | -$327,460 | -$1,453,349 | $13,268,452 | $8,194,638 |
| 7 | $22,106,983 | -$334,047 | -$1,460,360 | $13,036,209 | $9,070,773 |
| 8 | $22,770,192 | -$340,751 | -$1,467,498 | $12,788,019 | $9,982,174 |
| 9 | $23,453,298 | -$347,572 | -$1,474,765 | $12,522,784 | $10,930,513 |
| 10 | $24,156,897 | -$354,513 | -$1,482,163 | $12,239,336 | $11,917,560 |
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.