6 Fisher Island Dr Unit 305
Fisher Island, FL 33109 · condos · For Sale · 1024 days on market
Asking price$17,100,000
3 beds 5 baths 3,872 sqft
Suggested offer$7,148,308$9,951,692 above the est. market value of $7,148,308.
View on Realtor.com →Listed by Nirka Burns · Douglas Elliman - 5555 Biscayne Blvd
Typecondos
Built2026
Price / sqft$4416
Est. value (own analysis)$7,148,308
Rent estimate (own analysis)$28,500/mo
HOA$9,138/mo
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Statusfor_sale
Listed date2023-11-13
Removed date—
MLSMiamiMLS #A11479289
Coordinates25.76357, -80.14062
Address6 Fisher Island Dr Unit 305
CityFisher Island
StateFL
Zip33109
Listing ID9732170414
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 | $17,100,000 |
| Down payment (20.0%) | $3,420,000 |
| Loan amount | $13,680,000 |
| Closing costs (5.0%) | $855,000 |
| Total cash to close | $4,275,000 |
| Income | |
| Rent (comp-derived) | $28,500$342,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $26,220$314,640 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $27,075$324,900 |
| Insurance (placeholder 0.8% of price) | $11,400$136,800 |
| HOA dues | $9,138$109,656 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,425$17,100 |
| Total operating expenses | $49,038$588,456 |
| 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) | $1,425$17,100 |
| 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 | 2,744 | $20,000 | 2026-07-09 | — | |
| condos | 3 | 4 | 3,140 | $20,000 | 2025-02-28 | — | |
| condos | 3 | 4 | 3,140 | $29,000 | 2026-02-24 | — | |
| condos | 3 | 4 | 3,192 | $40,000 | 2026-06-18 | — | |
| condos | 3 | 4 | 2,744 | $28,000 | 2026-04-10 | — | |
| apartment | 3 | 4 | 2,744 | $30,000 | 2026-04-06 | — |
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 |
|---|---|---|---|---|---|---|
| 19236 Fisher Island Dr Unit 19236 | condos | 3 | 3 | 2,049 | $3,000,000 | 2026-05-19 |
| 7937 Fisher Island Dr Unit 7937 | condos | 3 | 4 | 2,530 | $8,550,000 | 2026-03-31 |
| 2437 Fisher Island Dr Unit 5307 | condos | 3 | 4 | 3,192 | $4,700,000 | 2026-03-25 |
| 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 |
|---|---|---|---|---|---|---|
| 2443 Fisher Island Dr Unit 5403 | condos | 3 | 4 | 3,227 | $5,250,000 | — |
| 2134 Fisher Island Dr Unit 2134 | condos | 3 | 4 | 2,744 | $4,500,000 | — |
| 2133 Fisher Island Dr Unit 2133 | condos | 3 | 4 | 1,847 | $3,789,000 | — |
| 2521 Fisher Island Dr Unit 6201 | condos | 3 | 4 | 2,744 | $7,750,000 | — |
| 2432 Fisher Island Dr Unit 5302 | condos | 3 | 4 | 2,234 | $3,900,000 | — |
| 5266 Fisher Island Dr Unit 5266 | condos | 3 | 4 | 2,740 | $5,400,000 | — |
| 2236 Fisher Island Dr Unit 3306 | condos | 3 | 4 | 2,744 | $5,200,000 | — |
| 19216 Fisher Island Dr Unit 19216 | condos | 3 | 3 | 2,049 | $4,400,000 | — |
10-year hold projection
IRR-11.0%
Equity multiple-0.88x
Total return (10yr)-$5,809,215
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $17,613,000 | -$273,816 | -$1,345,852 | $13,531,678 | $4,081,322 |
| 2 | $18,141,390 | -$279,088 | -$1,351,552 | $13,373,172 | $4,768,218 |
| 3 | $18,685,632 | -$284,445 | -$1,357,347 | $13,203,780 | $5,481,852 |
| 4 | $19,246,201 | -$289,887 | -$1,363,238 | $13,022,756 | $6,223,445 |
| 5 | $19,823,587 | -$295,415 | -$1,369,227 | $12,829,300 | $6,994,286 |
| 6 | $20,418,294 | -$301,030 | -$1,375,313 | $12,622,560 | $7,795,734 |
| 7 | $21,030,843 | -$306,732 | -$1,381,499 | $12,401,623 | $8,629,220 |
| 8 | $21,661,768 | -$312,522 | -$1,387,785 | $12,165,514 | $9,496,254 |
| 9 | $22,311,621 | -$318,400 | -$1,394,171 | $11,913,192 | $10,398,430 |
| 10 | $22,980,970 | -$324,367 | -$1,400,659 | $11,643,541 | $11,337,429 |
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.