642 Michigan Ave APT 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
Rental property for sale in Miami Beach at 642 Michigan Ave APT 1, Miami Beach, FL, 33139 priced at $275,000 converts $2,533/mo rent into after a $1,346/mo obligation. Total monthly income equals $2,533/mo. Return on cash invested prints 14.03% in year one, and rental yield reads 11.05% against a $275,000 entry. Equity gained on principal adds $1,775/yr, while 5% annual appreciation compiles into $75,977 by year five. Five-year ROI reaches 77.44% and total cumulative return in cash sums $70,595. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,533/mo property income covering a $1,346/mo payment, not borrower’s personal income.
Condo
Built in 1925
N/A lot
$N/A/sqft
$1,114 monthly 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: Valerie Navarrete • Gary Hennes Realtors
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11683238
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.