| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $4,990,000 |
| Down payment (20.0%) | $998,000 |
| Loan amount | $3,992,000 |
| Closing costs (5.0%) | $249,500 |
| Total cash to close | $1,247,500 |
| Income | |
| Rent (comp-derived) | $16,500$198,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $15,180$182,160 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $7,901$94,810 |
| Insurance (placeholder 0.8% of price) | $3,327$39,920 |
| HOA dues | $5,112$61,344 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $825$9,900 |
| Total operating expenses | $17,165$205,974 |
| 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) | $825$9,900 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
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 | 2,422 | $24,500 | 2026-08-18 | — | |
| condos | 3 | 5 | 2,076 | $16,000 | 2026-07-21 | — | |
| condos | 3 | 4 | 2,700 | $32,500 | 2026-07-21 | — | |
| condos | 3 | 4 | 2,591 | $12,500 | 2026-07-20 | — | |
| condos | 3 | 4 | 2,591 | $13,000 | 2026-07-15 | — | |
| condos | 3 | 3 | 2,130 | $13,700 | 2026-07-14 | — | |
| condos | 3 | 3 | 2,097 | $13,900 | 2026-07-13 | — | |
| condos | 3 | 4 | 2,211 | $16,000 | 2026-07-03 | — | |
| condos | 3 | 4 | 2,196 | $22,500 | 2026-07-01 | — | |
| condos | 3 | 6 | 3,214 | $33,000 | 2026-06-29 | — | |
| condos | 3 | 3 | 2,134 | $6,500 | 2026-07-26 | — | |
| condos | 3 | 4 | 2,700 | $32,500 | 2026-06-01 | — | |
| condos | 3 | 5 | 2,418 | $18,000 | 2026-06-01 | — | |
| condos | 3 | 6 | 3,536 | $35,700 | 2026-05-26 | — | |
| condos | 3 | 4 | 2,422 | $18,500 | 2026-05-22 | — | |
| condos | 3 | 5 | 2,742 | $30,000 | 2026-05-21 | — | |
| condos | 3 | 3 | 2,130 | $12,500 | 2026-05-21 | — | |
| condos | 3 | 4 | 2,510 | $12,250 | 2026-05-09 | — | |
| condos | 3 | 4 | 2,025 | $17,000 | 2026-04-30 | — | |
| condos | 3 | 4 | 2,457 | $14,500 | 2026-04-27 | — | |
| condos | 3 | 5 | 2,076 | $15,200 | 2025-11-26 | — | |
| condos | 3 | 5 | 3,310 | $15,000 | 2026-04-24 | — | |
| condos | 3 | 4 | 3,357 | $19,500 | 2025-11-12 | — | |
| condos | 3 | 6 | 3,536 | $34,000 | 2026-02-13 | — | |
| condos | 3 | 5 | 3,078 | $29,000 | 2026-04-24 | — | |
| condos | 3 | 4 | 2,510 | $11,500 | — | — | |
| condos | 3 | 4 | 3,078 | $30,000 | — | — | |
| apartment | 3 | 3 | 2,121 | $8,644 | — | — |
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 |
|---|---|---|---|---|---|---|
| 901 Brickell Key Blvd Apt 3004 | condos | 3 | 4 | 2,591 | $2,350,000 | 2026-08-31 |
| 1425 Brickell Ave Apt 58E | condos | 3 | 4 | 3,357 | $4,800,000 | 2026-08-31 |
| 900 Brickell Key Blvd Apt 1101 | condos | 3 | 4 | 2,065 | $2,200,000 | 2026-08-25 |
| 801 Brickell Key Blvd Apt 2203 | condos | 3 | 3 | 1,659 | $1,600,000 | 2026-08-14 |
| 500 Brickell Ave Apt 4101 | condos | 3 | 3 | 1,494 | $980,000 | 2026-08-13 |
| 701 Brickell Key Blvd Apt 1903 | condos | 3 | 3 | 1,719 | $1,260,000 | 2026-08-12 |
| 1200 Brickell Bay Dr Apt 1924 | condos | 3 | 2 | 1,232 | $700,000 | 2026-08-10 |
| 1080 Brickell Ave Unit 3300 | condos | 3 | 3 | 1,593 | $1,257,500 | 2026-07-23 |
| 495 Brickell Ave Apt 5703 | condos | 3 | 3 | 2,172 | $2,250,000 | 2026-07-15 |
| 1155 Brickell Bay Dr Ph 303 | condos | 3 | 3 | 1,940 | $1,600,000 | 2026-07-08 |
| 808 Brickell Key Dr Apt 2104 | condos | 3 | 4 | 2,510 | $2,200,000 | 2026-06-23 |
| 950 Brickell Bay Dr Apt 5505 | condos | 3 | 3 | 1,926 | $1,700,000 | 2026-06-16 |
| 888 Brickell Key Dr Apt 1903 | condos | 3 | 3 | 2,050 | $1,475,000 | 2026-06-08 |
| 1300 Brickell Bay Dr Apt 3406 | condos | 3 | 3 | 1,308 | $1,200,000 | 2026-06-08 |
| 1300 Brickell Bay Dr Apt 3302 | condos | 3 | 3 | 1,308 | $1,280,000 | 2026-06-03 |
| 300 Biscayne Blvd Way Unit 403C | condos | 3 | 3 | 1,829 | $2,300,000 | 2026-05-25 |
| 701 Brickell Key Blvd Apt 1603 | condos | 3 | 3 | 1,719 | $1,150,000 | 2026-05-06 |
| 1000 Brickell Plz Unit 4410 | condos | 3 | 4 | 1,685 | $1,930,000 | 2026-04-17 |
| 1010 Brickell Ave Unit 4206 | condos | 3 | 3 | 1,442 | $1,330,000 | 2026-04-06 |
| 901 Brickell Key Blvd Apt 906 | condos | 3 | 3 | 1,944 | $1,650,000 | 2026-03-27 |
| 500 Brickell Ave Apt 2901 | condos | 3 | 3 | 1,494 | $1,100,000 | 2026-03-26 |
| 1000 Brickell Plz Ph 6002 | condos | 3 | 4 | 2,342 | $3,750,000 | 2026-03-10 |
| 300 Biscayne Blvd Way Apt 3307 | condos | 3 | 4 | 2,346 | $2,650,000 | 2026-03-10 |
| 1331 Brickell Bay Dr Apt 2807 | condos | 3 | 3 | 2,130 | $2,025,000 | 2026-03-04 |
| 300 Biscayne Blvd Way Apt 3902 | condos | 3 | 4 | 2,442 | $3,110,000 | 2026-02-27 |
| 1155 Brickell Bay Dr Apt 2004 | condos | 3 | 2 | 1,510 | $842,500 | 2026-02-27 |
| 520 Brickell Key Dr Apt A604 | condos | 3 | 3 | 1,624 | $750,000 | 2026-02-26 |
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 |
|---|---|---|---|---|---|---|
| 200 Biscayne Boulevard Way Apt 4902 | condos | 3 | 4 | 2,457 | $2,445,000 | — |
| 465 Brickell Ave Apt 4101 | condos | 3 | 2 | 1,825 | $4,995,000 | — |
| 68 SE 6th St Apt 1904 | condos | 3 | 4 | 1,641 | $1,475,000 | — |
| 1000 Brickell Plz Unit 3002 | condos | 3 | 4 | 1,909 | $2,550,000 | — |
| 1331 Brickell Bay Dr Apt 3607 | condos | 3 | 3 | 2,130 | $2,375,000 | — |
| 335 S Biscayne Blvd Apt 1209 | condos | 3 | 2 | 1,792 | $1,490,000 | — |
| 1010 Brickell Ave Unit 4701 | condos | 3 | 3 | 1,753 | $1,890,000 | — |
| 1200 Brickell Bay Dr Apt 3701 | condos | 3 | 2 | 1,105 | $1,250,000 | — |
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,139,700 | -$23,814 | -$341,558 | $3,948,718 | $1,190,982 |
| 2 | $5,293,891 | -$23,499 | -$341,490 | $3,902,463 | $1,391,428 |
| 3 | $5,452,708 | -$23,148 | -$341,393 | $3,853,033 | $1,599,675 |
| 4 | $5,616,289 | -$22,760 | -$341,266 | $3,800,207 | $1,816,082 |
| 5 | $5,784,778 | -$22,334 | -$341,106 | $3,743,755 | $2,041,023 |
| 6 | $5,958,321 | -$21,867 | -$340,912 | $3,683,425 | $2,274,896 |
| 7 | $6,137,071 | -$21,358 | -$340,683 | $3,618,953 | $2,518,118 |
| 8 | $6,321,183 | -$20,805 | -$340,417 | $3,550,053 | $2,771,130 |
| 9 | $6,510,818 | -$20,204 | -$340,111 | $3,476,422 | $3,034,396 |
| 10 | $6,706,143 | -$19,556 | -$339,764 | $3,397,735 | $3,308,408 |