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1400 Biscayne Blvd Unit 4206

Miami, FL 33132 · condos · For Sale · 15 days on market
Asking price$3,560,000
4 beds 4 baths 2,187 sqft
Suggested offer$1,272,637$2,287,363 above the est. market value of $1,272,637.
View on Realtor.com →
Listed by Constanza Fernandez · Fortune Christie's International Real Estate
Typecondos
Built2026
Price / sqft$1628
Est. value (own analysis)$1,272,637
Rent estimate (own analysis)$10,250/mo
HOANone
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Street view
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12072498
Coordinates25.78873, -80.18934
Address1400 Biscayne Blvd Unit 4206
CityMiami
StateFL
Zip33132
Listing ID9793448808
Sourceus-real-estate-listings, cached 2026-08-29

ZIP market snapshot (33132)

Typical home value (ZHVI)$514,716
Typical rent (ZORI)$3,468/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$3,560,000
Down payment (20.0%)$712,000
Loan amount$2,848,000
Closing costs (5.0%)$178,000
Total cash to close$890,000
Income
Rent (comp-derived)$10,250$123,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$123,000
Vacancy rate (assumption) assumption8.0%

$123,000 × 8.0% = $9,840

Effective gross income$9,430$113,160
Operating expenses
Property tax (placeholder 1.9% of price)$5,637$67,640
Insurance (placeholder 0.8% of price)$2,373$28,480
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$513$6,150
Total operating expenses$8,523$102,270
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$113,160
Total operating expenses derived$102,270

$113,160 − $102,270 = $10,890

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$2,848,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$2,848,000 amortized at 6.7% over 30 years = $18,302/mo

CapEx reserve (5.0% of GSR)$513$6,150
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$10,890
Annual debt service derived$219,624
Annual CapEx reserve assumption$6,150
Annual PMI assumption$0

($10,890 − $219,624 − $6,150 − $0) ÷ 12 = -$17,907

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$10,890
Purchase price data$3,560,000

$10,890 ÷ $3,560,000 = 0.3%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$214,884
Total cash to close derived$890,000

-$214,884 ÷ $890,000 = -24.1%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$10,890
Annual debt service derived$219,624

$10,890 ÷ $219,624 = 0.05

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$123,000
Purchase price data$3,560,000

($123,000 ÷ 12) ÷ $3,560,000 = 0.3%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$3,560,000
Gross scheduled rent (annual) comp$123,000

$3,560,000 ÷ $123,000 = 28.9

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$102,270
Effective gross income derived$113,160

$102,270 ÷ $113,160 = 90.4%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$102,270
Annual debt service derived$219,624
Annual PMI assumption$0
Gross scheduled rent (annual) comp$123,000

($102,270 + $219,624 + $0) ÷ $123,000 = 261.7%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos431,739$5,7002026-08-18—
apartment442,204$10,2502026-07-14—
condos452,754$13,5002026-07-03—

1717 N Bayshore Dr Unit A3847

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 3 ba
Square footage1,739
Listed2026-08-18
Days on market—

Asking rent: $5,700

View on Zillow →

851 NE 1st Ave Unit 1701

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 4 ba
Square footage2,204
Listed2026-07-14
Days on market—

Asking rent: $10,250

View on Zillow →

900 Biscayne Blvd Apt 4202

Miami, 33132 · rent comp

Bedrooms / bathrooms4 bd / 5 ba
Square footage2,754
Listed2026-07-03
Days on market—

Asking rent: $13,500

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
398 NE 5th St Apt 4207condos01442$540,0002026-08-24
851 NE 1st Ave Unit 3800condos121,018$540,0002026-08-24
1800 N Bayshore Dr Apt 1908condos11839$355,0002026-08-21
1800 N Bayshore Dr Apt 1208condos11839$350,0002026-08-20
888 Biscayne Blvd Apt 3506condos12948$585,0002026-08-20
1000 Biscayne Blvd Unit 3902condos464,600$7,195,0002026-08-19
488 NE 18th St Unit 4005condos12743$535,0002026-08-18
1800 N Bayshore Dr Apt 4106condos11822$377,0002026-08-18
900 Biscayne Blvd Apt 2907condos12938$675,0002026-08-18
1800 N Bayshore Dr Apt 1901condos332,189$1,420,0002026-08-17
20 NE 11th St Apt 4807Bcondos01—$420,0002026-08-17
253 NE 2nd St Apt 3105condos01632$325,0002026-08-17
488 NE 18th St Unit 5012condos342,365$2,575,0002026-08-14
398 NE 5th St Apt 4518condos331,135$1,050,0002026-08-14
1900 N Bayshore Dr Apt 2204condos221,289$644,0002026-08-10
227 NE 2nd St Apt 1909condos11549$395,0002026-08-06
253 NE 2nd St Apt 903condos221,058$480,0002026-08-05
851 NE 1st Ave Unit 1412condos342,165$1,290,0002026-08-05
488 NE 18th St Unit 2802condos12766$485,0002026-08-01
900 Biscayne Blvd Apt 3502condos231,575$1,000,0002026-07-28
1750 N Bayshore Dr Apt 4506condos11821$308,0002026-07-27
601 NE 1 St Unit 2716condos331,633$1,175,0002026-07-24
1600 NE 1st Ave Apt 1916condos221,018$505,0002026-07-23
1750 N Bayshore Dr Apt 5408condos01503$255,0002026-07-23
1040 Biscayne Blvd Apt 1406condos231,123$700,0002026-07-23
20 NE 11th St Unit 2503Bcondos01336$450,0002026-07-20
159 NE 6th St Unit 3105condos22916$825,0002026-07-17
253 NE 2nd St Apt 220condos01560$255,0002026-07-17
50 Biscayne Blvd Apt 3510condos321,789$1,025,0002026-07-17
1040 Biscayne Blvd Apt 4607condos232,566$2,950,0002026-07-16
253 NE 2nd St Apt 3902condos221,203$530,0002026-07-15
1750 N Bayshore Dr Apt 5105condos11825$320,0002026-07-15
50 Biscayne Blvd Apt 711condos01501$316,5002026-07-15
488 NE 18th St Unit 2401condos231,178$650,0002026-07-13
227 NE 2nd St Apt 2911condos01446$335,0002026-07-13
1717 N Bayshore Dr Unit A2451condos331,840$705,0002026-07-10
227 NE 2nd St Apt 2412condos01446$350,0002026-07-10
1600 NE 1st Ave Apt 3302condos01—$360,0002026-07-10
1600 NE 1st Ave Apt 3012condos12850$400,0002026-07-09
900 Biscayne Blvd Apt 2910condos121,031$590,0002026-07-09
1900 N Bayshore Dr Apt 506condos11816$417,0002026-07-08
227 NE 2nd St Apt 2306condos22647$530,0002026-07-06
253 NE 2nd St Apt 1107condos11802$392,5002026-07-02
851 NE 1st Ave Unit 3905condos221,254$645,0002026-06-30
253 NE 2nd St Apt 2902condos221,203$600,0002026-06-30
1100 Biscayne Blvd Unit 4502condos231,557$920,0002026-06-30
900 Biscayne Blvd Apt 3709condos331,579$1,175,0002026-06-30
1717 NE Bayshore Dr Unit A2736condos221,464$785,0002026-06-26
133 NE 2nd Ave Apt 611condos11651$248,0002026-06-24
398 NE 5th St Apt 2403condos11490$415,0002026-06-24

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.

AddressTypeBedsBathsSqftAsking priceDays on market
20 NE 11th St Apt 6003condos452,693$7,500,000—
1000 Biscayne Blvd Unit 4401condos464,600$7,495,000—
1100 Biscayne Blvd Unit 3906condos445,451$8,995,000—
851 NE 1st Ave Ph 4912condos453,312$3,280,000—
1717 N Bayshore Dr Unit A2056condos431,827$1,500,000—
50 Biscayne Blvd Apt 2510condos443,059$2,500,000—
1000 Biscayne Blvd Unit 4802condos464,755$7,185,000—
300 N Iiscayne Blvd Unit 8402condos45—$10,612,000—

10-year hold projection

IRR-6.2%
Equity multiple-0.05x
Total return (10yr)-$465,353
YearProperty valueNOICash flowLoan balanceEquity
1$3,666,800$10,890-$214,884$2,817,121$849,679
2$3,776,804$11,728-$214,200$2,784,122$992,682
3$3,890,108$12,604-$213,481$2,748,857$1,141,251
4$4,006,811$13,519-$212,728$2,711,170$1,295,641
5$4,127,016$14,476-$211,937$2,670,896$1,456,120
6$4,250,826$15,474-$211,108$2,627,855$1,622,971
7$4,378,351$16,517-$210,239$2,581,859$1,796,492
8$4,509,701$17,606-$209,329$2,532,704$1,976,997
9$4,644,993$18,742-$208,376$2,480,174$2,164,819
10$4,784,342$19,927-$207,378$2,424,036$2,360,306
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.