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Values dip to $402K, rent hits $3,486
Updated yesterday • 8 new comps
Your Investment Paths
Turnkey Rental
The rental outlook for this property is quite promising, with projected monthly income ranging from $3,290 to $3,875. These figures reflect a solid performance within the Miami Beach market, offering investors a compelling revenue stream. This asset delivers an estimated rental yield of approximately 10.36%. Given the strong income potential and steady demand for comparable units in this area, the property represents a viable opportunity for those seeking consistent returns.
More about this home
Neighborhood Assessment
Flamingo Lummus in Miami Beach is all about walkability, vibrant nightlife, and the best South Beach has to offer—restaurants, boutiques, and the iconic beach are just steps away. The area hustles with year-round activity, making it a hotspot for both locals and vacationers. Most daily needs are met within blocks, and new developments nearby keep the neighborhood buzzing. Properties here perform well as short-term rentals thanks to high demand and proximity to popular spots. Comps show strong pricing for similar condos, with 2-bed, 2-bath units ranging from $367K–$426K. However, high HOA fees and some flood risk (zone AE) do impact cash flow, and insurance costs can be steep. Safety is decent for South Beach but should always be confirmed with current local stats.
Market Activity
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Rental Income
$43K
Yield
10.4%
Year 1 Estimates
Fix-and-Flip
Modernizing a home offers significant lifestyle benefits and fresh appeal. While the price per square foot remains stable at roughly $480 for both groups, updated homes sell faster, proving that buyers prioritize a move-in-ready, modern living environment. This project enhances your home's daily comfort and long-term attractiveness. With rent potential reaching $3,975, modern finishes are a smart way to stay competitive, boost desirability, and ensure your property captures the attention of high-quality potential tenants.
Value Add
$97
Post Typical Renovation
Buy-Rehab-Rent
This property shows solid potential with a post-renovation value estimated between $359,000 and $396,000. While the flip potential is currently low, the unit is well-positioned for a long-term hold strategy within this market segment. Projected monthly rental income reaches $3,331, delivering a healthy 10.6% yield. These numbers suggest a reliable income stream, making the asset a practical choice for investors seeking steady cash flow from a stabilized rental property.
Rental Income
$40K
Yield
10.6%
Year 1 Estimates, Post Typical Renovation
Estimated value
$415K
$12.5K over comp median
Comparative Market Analysis
$287K – $525K
~61 days to sell
Based on 8 comps
821 Collins Ave APT 402, Miami Beach Investment Report: Flip & Rental Analysis · Frontflip