1616 Michigan Avenue #1Miami BeachFL33139
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Miami Beach at 1616 Michigan Avenue #1, Miami Beach, FL, 33139 offers a 3.71% rental yield on a $1,750,000 purchase with $5,410/mo rent. 24% in year one. Equity gained on principal adds $11,292/yr while 5% annual appreciation supports $483,493 over five years. Portfolio math shows five-year ROI at 35.42% and total cumulative return in cash at $200,829. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,410/mo property income against a $8,565/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1940
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33139, Miami Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 30,073 (100%) |
| Owner Occupied HU | 8,020 (26.7%) |
| Renter Occupied HU | 13,441 (44.7%) |
| Vacant Housing Units | 8,612 (28.6%) |
| Median Home Value | $757,323 |
| Average Home Value | $1,011,532 |
Housing Distribution
Address Breakdown
Residential
27,623
Single Family
3,294
Multi-Family
24,329
Businesses
2,457
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Listed by: Noah Heller • EXP Realty LLC
Mls Name: BeachesMLS
Mls ID: #RX-11126536