Fisher Island 6893 Lphcenter Dr Unit 6893
Miami Beach, FL 33109 · condos · For Sale · 19 days on market
Asking price$39,950,000
7 beds 10 baths 9,852 sqft
Suggested offer$19,580,335$20,369,665 above the est. market value of $19,580,335.
View on Realtor.com →Listed by Sam Gaita · The Corcoran Group
Typecondos
Built2019
Price / sqft$4055
Est. value (own analysis)$19,580,335
Rent estimate (Zillow ZIP avg)$9,093/mo
HOA$26,340/mo
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Statusfor_sale
Listed date2026-08-14
Removed date—
MLSMiamiMLS #A12069229
Coordinates25.76348, -80.13770
AddressFisher Island 6893 Lphcenter Dr Unit 6893
CityMiami Beach
StateFL
Zip33109
Listing ID9473674902
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33109)
Median sale price$4,500,000
Median days on market (sale)125
Active sale listings21
Median rent$9,093/mo
Active rental listings1
Real ZIP-wide statistics from RentCast, as of 2026-09 (fetched 2026-09-03) — this is the whole ZIP's market, not specific to this property. Re-analyzing spends one of the account's 50 free monthly lookups. Our own log shows at least 6 of the 50 free monthly RentCast requests used — that only counts calls made through this app, so it can undercount. RentCast's own account dashboard has the real total.
Re-analyze ZIP 33109 (≥6 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $39,950,000 |
| Down payment (20.0%) | $7,990,000 |
| Loan amount | $31,960,000 |
| Closing costs (5.0%) | $1,997,500 |
| Total cash to close | $9,987,500 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $9,093$109,116 |
| Vacancy loss (8.0%) | |
| Effective gross income | $8,366$100,387 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $63,254$759,050 |
| Insurance (placeholder 0.8% of price) | $26,633$319,600 |
| HOA dues | $26,340$316,080 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $455$5,456 |
| Total operating expenses | $116,682$1,400,186 |
| 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) | $455$5,456 |
| 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.
No active rental listings cached yet for this bedroom count.
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 2245 Fisher Island Dr Unit 3405 | condos | 2 | 3 | 1,912 | $3,800,000 | 2026-07-22 |
| 2225 Fisher Island Dr Unit 3205 | condos | 2 | 3 | 1,912 | $3,603,500 | 2026-06-30 |
| 5233 Fisher Island Dr Unit 5233 | condos | 4 | 5 | 3,790 | $7,400,000 | 2026-05-28 |
| 19236 Fisher Island Dr Unit 19236 | condos | 3 | 3 | 2,049 | $3,000,000 | 2026-05-19 |
| 7085 Fisher Island Dr Unit 7085 | condos | 5 | 7 | 7,630 | $28,000,000 | 2026-05-18 |
| 7433 Fisher Island Dr Unit 7433 | condos | 4 | 5 | 3,849 | $10,237,500 | 2026-04-27 |
| 7133 Fisher Island Dr Unit 7133 | condos | 6 | 6 | 7,025 | $14,425,000 | 2026-04-24 |
| 5322 Fisher Island Dr Unit 5322 | condos | 4 | 5 | 6,300 | $11,350,000 | 2026-04-20 |
| 7937 Fisher Island Dr Unit 7937 | condos | 3 | 4 | 2,530 | $8,550,000 | 2026-03-31 |
| 15512 Fisher Island Dr Unit 15512 | condo_townhome_rowhome_coop | 1 | 1 | 690 | $1,650,000 | 2026-03-27 |
| 2437 Fisher Island Dr Unit 5307 | condos | 3 | 4 | 3,192 | $4,700,000 | 2026-03-25 |
| 6800 Fisher Island Dr Unit 6823 | condos | 4 | 5 | 4,904 | $15,000,000 | 2026-02-16 |
| 2213 Fisher Island Dr Unit 3103 | condos | 4 | 4 | 3,192 | $5,350,000 | 2026-01-05 |
| 4922 Fisher Island Dr Unit 4922 | condos | 3 | 4 | 2,000 | $5,800,000 | 2025-12-31 |
| 5344 Fisher Island Dr Unit 5344 | condos | 3 | 3 | 1,950 | $3,600,000 | 2025-12-22 |
| 19152 Fisher Island Dr Unit 19152 | condos | 3 | 3 | 1,838 | $5,000,000 | 2025-12-10 |
| 2021 Fisher Island Dr Unit 2021 | condos | 3 | 4 | 2,744 | $4,300,000 | 2025-11-05 |
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 |
|---|---|---|---|---|---|---|
| 1006 Links Dr | single_family | 7 | 9 | 12,470 | $49,000,000 | — |
| 1006 Fisher Island Dr | single_family | 7 | 9 | 10,300 | $38,000,000 | — |
| 7043 Fisher Island Dr Unit 7043 | condos | 7 | 9 | 9,826 | $36,000,000 | — |
| 1010 Fisher Island Dr | single_family | 7 | 10 | — | $36,000,000 | — |
10-year hold projection
IRR-15.0%
Equity multiple-1.60x
Total return (10yr)-$20,745,994
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $41,148,500 | -$1,299,799 | -$3,769,858 | $31,613,483 | $9,535,017 |
| 2 | $42,382,955 | -$1,331,792 | -$3,801,987 | $31,243,169 | $11,139,786 |
| 3 | $43,654,444 | -$1,364,570 | -$3,834,905 | $30,847,426 | $12,807,017 |
| 4 | $44,964,077 | -$1,398,152 | -$3,868,630 | $30,424,507 | $14,539,570 |
| 5 | $46,312,999 | -$1,432,557 | -$3,903,182 | $29,972,546 | $16,340,453 |
| 6 | $47,702,389 | -$1,467,806 | -$3,938,582 | $29,489,548 | $18,212,841 |
| 7 | $49,133,461 | -$1,503,919 | -$3,974,849 | $28,973,382 | $20,160,079 |
| 8 | $50,607,465 | -$1,540,918 | -$4,012,006 | $28,421,770 | $22,185,694 |
| 9 | $52,125,689 | -$1,578,824 | -$4,050,074 | $27,832,279 | $24,293,410 |
| 10 | $53,689,459 | -$1,617,658 | -$4,089,075 | $27,202,307 | $26,487,153 |
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.