5 Grove Isle Dr Ph 1
Coconut Grove, FL 33131 · condos · For Sale · 159 days on market
Asking price$23,500,000
4 beds 6 baths 7,027 sqft
Suggested offer$8,262,628$15,237,372 above the est. market value of $8,262,628.
View on Realtor.com →Listed by Nelson Gonzalez · BHHS EWM Realty
Typecondos
Built2026
Price / sqft$3344
Est. value (own analysis)$8,262,628
Rent estimate (own analysis)$27,000/mo
HOA$12,518/mo
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Statusfor_sale
Listed date2026-03-27
Removed date—
MLSMiamiMLS #A11989341
Coordinates25.73673, -80.21722
Address5 Grove Isle Dr Ph 1
CityCoconut Grove
StateFL
Zip33131
Listing ID9497429497
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33131)
Typical home value (ZHVI)$587,486
Typical rent (ZORI)$3,815/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 | $23,500,000 |
| Down payment (20.0%) | $4,700,000 |
| Loan amount | $18,800,000 |
| Closing costs (5.0%) | $1,175,000 |
| Total cash to close | $5,875,000 |
| Income | |
| Rent (comp-derived) | $27,000$324,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $24,840$298,080 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $37,208$446,500 |
| Insurance (placeholder 0.8% of price) | $15,667$188,000 |
| HOA dues | $12,518$150,216 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,350$16,200 |
| Total operating expenses | $66,743$800,916 |
| 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) | $1,350$16,200 |
| 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 | 2,391 | $24,000 | 2026-08-17 | — | |
| condos | 4 | 5 | 3,860 | $29,000 | 2026-08-11 | — | |
| condos | 4 | 5 | 3,860 | $29,000 | 2026-08-07 | — | |
| condos | 4 | 3 | 2,646 | $10,000 | 2026-07-20 | — | |
| condos | 4 | 4 | 2,365 | $13,800 | 2026-07-10 | — | |
| condos | 4 | 6 | 3,536 | $34,000 | 2026-07-09 | — | |
| condos | 4 | 6 | 3,601 | $45,000 | 2026-06-03 | — | |
| condos | 4 | 6 | 3,536 | $25,000 | 2026-05-18 | — | |
| condos | 4 | 5 | 3,657 | $32,000 | 2026-05-07 | — | |
| condos | 4 | 8 | 9,681 | $240,000 | 2026-08-01 | — | |
| condos | 4 | 6 | 3,536 | $23,000 | 2026-03-26 | — | |
| condos | 4 | 5 | 3,415 | $20,000 | 2026-02-25 | — |
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 |
|---|---|---|---|---|---|---|
| 300 Biscayne Boulevard Way Unit 1101E | condos | 4 | 5 | 3,643 | $4,650,000 | 2026-06-17 |
| 300 N Biscayne Boulevard Way Unit 4104C | condos | 4 | 6 | 3,214 | $4,387,500 | 2026-05-19 |
| 1331 Brickell Bay Dr Apt 4201 | condos | 4 | 5 | 3,415 | $3,672,000 | 2026-04-17 |
| 200 Biscayne Boulevard Way Apt 5402 | condos | 4 | 6 | 4,310 | $4,190,500 | 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 |
|---|---|---|---|---|---|---|
| 825 Brickell Bay Dr Apt 1151 | condos | 4 | 3 | 1,980 | $750,000 | — |
| 1425 Brickell Ave Apt 42E | condos | 4 | 4 | 3,357 | $5,000,000 | — |
| 901 Brickell Key Blvd Apt 2408 | condos | 4 | 5 | 2,860 | $3,995,000 | — |
| 300 Biscayne Blvd Way Unit 1904C | condos | 4 | 6 | 3,536 | $4,995,000 | — |
| 300 Biscayne Blvd Way Apt 1704 | condos | 4 | 6 | 3,225 | $4,950,000 | — |
| 1430 Brickell Ave Unit 5002 | condos | 4 | 4 | 6,686 | $15,012,900 | — |
| 1331 Brickell Bay Dr Apt 3311 | condos | 4 | 5 | 3,415 | $3,795,000 | — |
| 1331 Brickell Bay Dr Apt 4605 | condos | 4 | 5 | 3,860 | $5,375,000 | — |
10-year hold projection
IRR-12.3%
Equity multiple-1.11x
Total return (10yr)-$9,354,295
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $24,205,000 | -$502,836 | -$1,968,802 | $18,596,166 | $5,608,834 |
| 2 | $24,931,150 | -$513,917 | -$1,980,288 | $18,378,335 | $6,552,815 |
| 3 | $25,679,085 | -$525,229 | -$1,992,016 | $18,145,545 | $7,533,539 |
| 4 | $26,449,457 | -$536,779 | -$2,003,991 | $17,896,769 | $8,552,688 |
| 5 | $27,242,941 | -$548,570 | -$2,016,218 | $17,630,910 | $9,612,031 |
| 6 | $28,060,229 | -$560,607 | -$2,028,702 | $17,346,793 | $10,713,436 |
| 7 | $28,902,036 | -$572,894 | -$2,041,447 | $17,043,166 | $11,858,869 |
| 8 | $29,769,097 | -$585,437 | -$2,054,460 | $16,718,689 | $13,050,408 |
| 9 | $30,662,170 | -$598,240 | -$2,067,744 | $16,371,930 | $14,290,240 |
| 10 | $31,582,035 | -$611,308 | -$2,081,305 | $16,001,358 | $15,580,677 |
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.