18501 Collins Ave Unit 4003-04
Sunny Isles Beach, FL 33160 · condos · For Sale · 62 days on market
Asking price$18,000,000
5 beds 8 baths 6,740 sqft
Suggested offer$2,012,699$15,987,301 above the est. market value of $2,012,699.
View on Realtor.com →Listed by Jordan Lederman, Esq. · Fortune Christie's International Real Estate
Typecondos
Built2020
Price / sqft$2671
Est. value (own analysis)$2,012,699
Rent estimate (own analysis)$54,900/mo
HOA$11,963/mo
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Statusfor_sale
Listed date2026-07-03
Removed date—
MLSMiamiMLS #A12042704
Coordinates25.94765, -80.11996
Address18501 Collins Ave Unit 4003-04
CitySunny Isles Beach
StateFL
Zip33160
Listing ID9745632314
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33160)
Typical home value (ZHVI)$518,452
Typical rent (ZORI)$3,079/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 | $18,000,000 |
| Down payment (20.0%) | $3,600,000 |
| Loan amount | $14,400,000 |
| Closing costs (5.0%) | $900,000 |
| Total cash to close | $4,500,000 |
| Income | |
| Rent (comp-derived) | $54,900$658,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $50,508$606,096 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $28,500$342,000 |
| Insurance (placeholder 0.8% of price) | $12,000$144,000 |
| HOA dues | $11,963$143,556 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $2,745$32,940 |
| Total operating expenses | $55,208$662,496 |
| 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) | $2,745$32,940 |
| 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 | 5 | 8 | 4,247 | $75,000 | 2026-08-14 | — | |
| condos | 5 | 8 | 6,624 | $45,000 | 2025-10-20 | — | |
| condos | 5 | 6 | 3,176 | $29,800 | 2022-10-06 | — | |
| condos | 5 | 7 | 4,077 | $45,000 | 2026-08-12 | — | |
| condos | 5 | 8 | 3,803 | $54,900 | 2026-04-13 | — | |
| condos | 5 | 8 | 3,803 | $65,000 | 2026-04-02 | — | |
| apartment | 5 | 8 | 3,803 | $60,000 | 2026-07-24 | — | |
| condos | 5 | 6 | 2,682 | $33,000 | 2025-01-08 | — | |
| condos | 5 | 8 | 4,247 | $75,000 | — | — |
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 |
|---|---|---|---|---|---|---|
| 100 Bayview Dr Apt 2124 | condos | 2 | 2 | 1,357 | $650 | 2026-09-02 |
| 18555 Collins Ave Apt 2805 | condos | 3 | 5 | 3,171 | $3,500,000 | 2026-09-01 |
| 2999 Point East Dr Apt C502 | condos | 1 | 1 | 816 | $180,000 | 2026-09-01 |
| 17749 Collins Ave Apt 3501 | condos | 4 | 7 | 4,609 | $6,500,000 | 2026-08-31 |
| 3551 NE 169th St Apt 301 | condos | 2 | 2 | 1,085 | $250,000 | 2026-08-31 |
| 3862 NE 171st St Unit C | condos | 2 | 3 | 1,200 | $382,000 | 2026-08-31 |
| 2000 Island Blvd Apt 1109 | condos | 3 | 3 | 2,630 | $825,000 | 2026-08-28 |
| 2841 NE 163rd St Apt 704 | condos | 1 | 2 | 790 | $197,000 | 2026-08-28 |
| 6750864223 | condos | 0 | 1 | 664 | $220,000 | 2026-08-28 |
| 18001 Collins Ave Unit 1010 | condos | 0 | 1 | 551 | $220,000 | 2026-08-28 |
| 18001 Collins Ave Unit 1403 | condos | 0 | 1 | 551 | $220,000 | 2026-08-28 |
| 300 Sunny Isles Blvd Unit 4-807 | condos | 3 | 4 | 1,892 | $1,240,000 | 2026-08-28 |
| 330 Sunny Isles Blvd Unit 5-1708 | condos | 3 | 4 | 1,892 | $1,500,000 | 2026-08-26 |
| 230 174th St Apt 902 | condos | 2 | 2 | 1,276 | $435,000 | 2026-08-26 |
| 16400 Collins Ave Apt 1242 | condos | 2 | 2 | 1,530 | $815,000 | 2026-08-25 |
| 17901 Collins Ave Unit 3003 | condos | 4 | 5 | 2,987 | $6,700,000 | 2026-08-25 |
| 250 174th St Apt 1510 | condos | 0 | 1 | 595 | $170,000 | 2026-08-25 |
| 300 Bayview Dr Apt 307 | condos | 2 | 2 | 1,350 | $410,000 | 2026-08-25 |
| 18011 Biscayne Blvd Unit 1704-1 | condos | 2 | 2 | 1,605 | $170,000 | 2026-08-25 |
| 17301 Biscayne Blvd Apt 1106 | condos | 3 | 4 | 2,158 | $985,000 | 2026-08-25 |
| 19370 Collins Ave Apt 319 | condos | 1 | 2 | 1,005 | $335,000 | 2026-08-24 |
| 2801 NE 183rd St Unit 405W | condos | 1 | 2 | 1,066 | $172,000 | 2026-08-24 |
| 18061 Biscayne Blvd Apt 1203 | condos | 1 | 2 | 1,005 | $180,000 | 2026-08-24 |
| 15811 Collins Ave Apt 2201 | condos | 3 | 4 | 2,928 | $2,525,000 | 2026-08-24 |
| 17301 Biscayne Blvd Apt 401 | condos | 2 | 3 | 1,999 | $800,000 | 2026-08-21 |
| 18001 Collins Ave Unit 2204 | condos | 0 | 1 | 457 | $200,000 | 2026-08-21 |
| 18001 Collins Ave Unit 2102 | condos | 0 | 1 | 664 | $205,000 | 2026-08-21 |
| 3944 NE 167th St Apt 106 | condos | 2 | 2 | 970 | $190,000 | 2026-08-21 |
| 2851 NE 183rd St Apt 1416E | condos | 2 | 2 | 1,693 | $320,000 | 2026-08-21 |
| 17001 Collins Ave Apt 2307 | condos | 2 | 3 | 1,479 | $1,750,000 | 2026-08-21 |
| 17890 W Dixie Hwy Apt 307 | condos | 3 | 2 | 1,652 | $290,000 | 2026-08-20 |
| 3750 NE 169th St Apt 102 | condos | 1 | 2 | 812 | $185,000 | 2026-08-20 |
| 5878676453 | condos | 1 | 1 | 1,005 | $295,000 | 2026-08-19 |
| 3600 NE 170th St Apt 102 | condos | 1 | 2 | 812 | $185,000 | 2026-08-19 |
| 2750 NE 183rd St Apt 2108 | condos | 2 | 2 | 1,268 | $260,000 | 2026-08-19 |
| 19380 Collins Ave Apt 712 | condos | 1 | 1 | 1,005 | $255,000 | 2026-08-18 |
| 2920 Point East Dr Apt N111 | condos | 1 | 1 | 768 | $160,000 | 2026-08-18 |
| 250 174th St Apt 2012 | condos | 1 | 2 | 1,087 | $240,000 | 2026-08-18 |
| 17051 NE 35th Ave Apt 202 | condos | 2 | 2 | 861 | $190,000 | 2026-08-17 |
| 3551 NE 169th St Apt 104 | condos | 1 | 1 | 812 | $150,000 | 2026-08-17 |
| 3550 NE 169th St Apt 407 | condos | 2 | 2 | 1,085 | $289,000 | 2026-08-17 |
| 300 Bayview Dr Apt 905 | condos | 2 | 2 | 1,350 | $340,000 | 2026-08-17 |
| 17700 N Bay Rd Apt 805 | condos | 2 | 2 | 1,300 | $640,000 | 2026-08-17 |
| 17375 Collins Ave Unit 1708 | condos | 3 | 3 | 1,860 | $780,000 | 2026-08-14 |
| 5752196881 | condos | 2 | 2 | 1,115 | $620,000 | 2026-08-14 |
| 3020 Marcos Dr Apt S109 | condos | 1 | 1 | 768 | $105,000 | 2026-08-13 |
| 16001 Collins Ave Apt 1504 | condos | 3 | 4 | 2,327 | $2,800,000 | 2026-08-13 |
| 400 Sunny Isles Blvd Apt 116 | condos | 2 | 3 | 1,403 | $820,000 | 2026-08-13 |
| 300 Bayview Dr Apt 1009 | condos | 1 | 2 | 762 | $215,000 | 2026-08-12 |
| 3750 NE 169th St Apt 408 | condos | 1 | 1 | 812 | $179,500 | 2026-08-10 |
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 |
|---|---|---|---|---|---|---|
| 18825 N Bay Rd | single_family | 5 | 5 | — | $3,500,000 | — |
| 268 S Parkway | single_family | 5 | 4 | 4,019 | $14,800,000 | — |
| 4027 194th Trl | single_family | 5 | 5 | 3,403 | $3,890,000 | — |
| 2950 NE 164th St | single_family | 5 | 6 | 5,796 | $7,450,000 | — |
| 3960 194th Trl | single_family | 5 | 5 | 3,291 | $2,950,000 | — |
| 16414 NE 33rd Ave | single_family | 5 | 6 | 2,053 | $3,699,000 | — |
| 16470 NE 30th Ave | single_family | 5 | 8 | 5,347 | $14,500,000 | — |
| 16430 NE 30th Ave | single_family | 5 | 5 | 5,027 | $6,175,000 | — |
10-year hold projection
IRR-7.8%
Equity multiple-0.33x
Total return (10yr)-$3,613,481
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $18,540,000 | -$56,400 | -$1,199,799 | $14,243,872 | $4,296,128 |
| 2 | $19,096,200 | -$54,780 | -$1,199,002 | $14,077,022 | $5,019,178 |
| 3 | $19,669,086 | -$53,028 | -$1,198,095 | $13,898,715 | $5,770,371 |
| 4 | $20,259,159 | -$51,138 | -$1,197,070 | $13,708,163 | $6,550,995 |
| 5 | $20,866,933 | -$49,105 | -$1,195,924 | $13,504,526 | $7,362,407 |
| 6 | $21,492,941 | -$46,922 | -$1,194,650 | $13,286,905 | $8,206,036 |
| 7 | $22,137,730 | -$44,582 | -$1,193,242 | $13,054,340 | $9,083,390 |
| 8 | $22,801,861 | -$42,078 | -$1,191,693 | $12,805,804 | $9,996,058 |
| 9 | $23,485,917 | -$39,403 | -$1,189,996 | $12,540,201 | $10,945,717 |
| 10 | $24,190,495 | -$36,549 | -$1,188,146 | $12,256,358 | $11,934,137 |
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.