5 Grove Isle Dr Ph L05
Miami, FL 33133 · condos · For Sale · 97 days on market
Asking price$21,300,000
4 beds 6 baths 7,027 sqft
Suggested offer$15,149,061$6,150,939 above the est. market value of $15,149,061.
View on Realtor.com →Listed by Dina Goldentayer · Douglas Elliman - 120 Ocean Drive
Typecondos
Built2025
Price / sqft$3031
Est. value (own analysis)$15,149,061
Rent estimate (own analysis)$45,000/mo
HOA$6,765/mo
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Statusfor_sale
Listed date2026-05-28
Removed date—
MLSMiamiMLS #A12025886
Coordinates25.73673, -80.21722
Address5 Grove Isle Dr Ph L05
CityMiami
StateFL
Zip33133
Listing ID9515439612
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 | $21,300,000 |
| Down payment (20.0%) | $4,260,000 |
| Loan amount | $17,040,000 |
| Closing costs (5.0%) | $1,065,000 |
| Total cash to close | $5,325,000 |
| Income | |
| Rent (comp-derived) | $45,000$540,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $41,400$496,800 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $33,725$404,700 |
| Insurance (placeholder 0.8% of price) | $14,200$170,400 |
| HOA dues | $6,765$81,180 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $2,250$27,000 |
| Total operating expenses | $56,940$683,280 |
| 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) | $2,250$27,000 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 4 | 4 | 2,558 | $45,000 | 2026-06-11 | — | |
| apartment | 4 | 2 | 3,860 | $4,500 | 2026-05-06 | — | |
| apartment | 4 | 2 | 2,027 | $3,600 | 2026-07-29 | — | |
| apartment | 4 | 5 | 4,842 | $48,000 | — | — | |
| condos | 4 | 5 | 3,834 | $50,000 | — | — |
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 |
|---|---|---|---|---|---|---|
| 3581 E Glencoe St Unit 501 | condos | 4 | 6 | 2,988 | $5,500,000 | 2026-07-13 |
| 2655 S Bayshore Dr Apt 1401 | condos | 4 | 4 | 4,812 | $12,512,819 | 2026-06-26 |
| 2811 S Bayshore Dr Unit 18AB | condos | 4 | 5 | 4,786 | $16,740,000 | 2026-06-01 |
| 3535 Hiawatha Ave Apt 403 | condos | 4 | 6 | 4,453 | $5,750,000 | 2026-05-08 |
| 5 Grove Isle Dr Apt M401 | condos | 4 | 5 | 3,904 | $9,400,000 | 2026-03-27 |
| 2821 S Bayshore Dr Unit 19B | condos | 4 | 4 | 2,532 | $4,900,000 | 2026-03-20 |
| 2821 S Bayshore Dr Unit 5A | condos | 4 | 6 | 3,233 | $7,000,000 | 2026-02-27 |
| 5 Grove Isle Dr Ph S04 | condos | 4 | 6 | 5,885 | $19,800,000 | 2026-02-24 |
| 3203 Shipping Ave | condos | 4 | 4 | 2,665 | $2,640,000 | 2025-12-29 |
| 2811 S Bayshore Dr Unit 4A | condos | 4 | 6 | 3,247 | $7,000,000 | 2025-10-31 |
| 2821 S Bayshore Dr Unit 16A | condos | 4 | 5 | 3,233 | $6,600,000 | 2025-10-15 |
| 2655 S Bayshore Dr Apt 1601 | condos | 4 | 4 | 2,715 | $6,400,000 | 2025-10-09 |
| 2669 S Bayshore Dr Unit 801N | condos | 4 | 5 | 2,896 | $5,500,000 | 2025-09-15 |
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 |
|---|---|---|---|---|---|---|
| 72 Shore Dr W | single_family | 4 | 5 | 3,328 | $4,200,000 | — |
| 4110 Battersea Rd | single_family | 4 | 4 | 2,787 | $2,590,000 | — |
| 3794 Irvington Ave | single_family | 4 | 2 | 1,796 | $2,085,000 | — |
| 4120 Lybyer Ave | single_family | 4 | 3 | 1,981 | $2,750,000 | — |
| 2927 SW 36th Ave | townhomes | 4 | 6 | — | $1,685,000 | — |
| 5 Grove Isle Dr Apt M502 | condos | 4 | 5 | 3,677 | $9,995,000 | — |
| 3372 Charles Ave | single_family | 4 | 5 | 3,026 | $4,160,000 | — |
| 3352 Charles Ave | single_family | 4 | 5 | 3,150 | $4,225,000 | — |
10-year hold projection
IRR-9.2%
Equity multiple-0.56x
Total return (10yr)-$5,540,657
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $21,939,000 | -$186,480 | -$1,527,524 | $16,855,249 | $5,083,751 |
| 2 | $22,597,170 | -$188,658 | -$1,530,377 | $16,657,810 | $5,939,360 |
| 3 | $23,275,085 | -$190,816 | -$1,533,226 | $16,446,813 | $6,828,272 |
| 4 | $23,973,338 | -$192,951 | -$1,536,071 | $16,221,327 | $7,752,011 |
| 5 | $24,692,538 | -$195,060 | -$1,538,907 | $15,980,356 | $8,712,182 |
| 6 | $25,433,314 | -$197,141 | -$1,541,733 | $15,722,838 | $9,710,476 |
| 7 | $26,196,313 | -$199,190 | -$1,544,545 | $15,447,636 | $10,748,678 |
| 8 | $26,982,203 | -$201,204 | -$1,547,342 | $15,153,535 | $11,828,668 |
| 9 | $27,791,669 | -$203,179 | -$1,550,119 | $14,839,238 | $12,952,431 |
| 10 | $28,625,419 | -$205,112 | -$1,552,875 | $14,503,358 | $14,122,061 |
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.