2699 S Bayshore Dr Unit 2004
Miami, FL 33133 · condos · For Sale · 84 days on market
Asking price$10,950,000
3 beds 4 baths 3,543 sqft
Suggested offer$4,652,424$6,297,576 above the est. market value of $4,652,424.
View on Realtor.com →Listed by Steven Mikhli · Nest Seekers International, Midtown
Typecondos
Built—
Price / sqft$3091
Est. value (own analysis)$4,652,424
Rent estimate (own analysis)$24,500/mo
HOANone
1 / 9
Show every detail
Statusfor_sale
Listed date2026-06-10
Removed date—
MLSNestSeekers #5556213
Coordinates25.72954, -80.23711
Address2699 S Bayshore Dr Unit 2004
CityMiami
StateFL
Zip33133
Listing ID9261893232
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 | $10,950,000 |
| Down payment (20.0%) | $2,190,000 |
| Loan amount | $8,760,000 |
| Closing costs (5.0%) | $547,500 |
| Total cash to close | $2,737,500 |
| Income | |
| Rent (comp-derived) | $24,500$294,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $22,540$270,480 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $17,338$208,050 |
| Insurance (placeholder 0.8% of price) | $7,300$87,600 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,225$14,700 |
| Total operating expenses | $25,863$310,350 |
| 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) | $1,225$14,700 |
| 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 | 3 | 4 | 2,404 | $30,000 | 2026-08-12 | — | |
| condos | 3 | 4 | 2,532 | $29,500 | 2026-08-10 | — | |
| 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 | 3,233 | $45,000 | 2026-07-09 | — | |
| condos | 3 | 3 | 2,424 | $15,500 | 2026-06-09 | — | |
| condos | 3 | 4 | 3,764 | $15,000 | 2026-06-05 | — | |
| condos | 3 | 3 | 2,614 | $15,700 | 2026-05-08 | — | |
| condos | 3 | 4 | 2,433 | $35,000 | 2026-05-05 | — | |
| condos | 3 | 3 | 2,614 | $18,000 | 2026-08-03 | — | |
| condos | 3 | 3 | 2,614 | $11,000 | 2026-07-30 | — | |
| condos | 3 | 4 | 3,876 | $44,500 | 2026-03-02 | — | |
| condos | 3 | 4 | 3,165 | $25,000 | 2026-06-16 | — |
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-7.9%
Equity multiple-0.34x
Total return (10yr)-$2,226,271
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $11,278,500 | -$39,870 | -$730,099 | $8,665,022 | $2,613,478 |
| 2 | $11,616,855 | -$39,514 | -$730,111 | $8,563,522 | $3,053,333 |
| 3 | $11,965,361 | -$39,109 | -$730,083 | $8,455,052 | $3,510,309 |
| 4 | $12,324,321 | -$38,652 | -$730,012 | $8,339,133 | $3,985,189 |
| 5 | $12,694,051 | -$38,141 | -$729,896 | $8,215,254 | $4,478,798 |
| 6 | $13,074,873 | -$37,572 | -$729,733 | $8,082,867 | $4,992,005 |
| 7 | $13,467,119 | -$36,944 | -$729,521 | $7,941,390 | $5,525,729 |
| 8 | $13,871,132 | -$36,252 | -$729,255 | $7,790,197 | $6,080,935 |
| 9 | $14,287,266 | -$35,495 | -$728,935 | $7,628,622 | $6,658,644 |
| 10 | $14,715,884 | -$34,670 | -$728,557 | $7,455,951 | $7,259,933 |
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.