The subject property is a renovated 2-bed, 2-bath, 940 sqft condo in the heart of Miami Beach. Recent rent listings and comps for similar 2-bed units in this building and neighborhood suggest a rent potential between $3,400 and $4,000 per month. This equates to an annual gross income of $40.8K–$48K. With a current list price of $575K and factoring in the $884/month HOA, the estimated payback period (gross) falls around 12–14 years, typical for high-demand coastal markets. Market demand for well-finished, centrally located condos remains healthy, as Miami Beach rents have risen slightly year-over-year and vacancy rates remain low[1][3][4]. The unit's recent remodel, split layout (allowing potential roommate or dual rental income), ocean views, and parking give it an edge. However, high HOA fees and flood insurance requirements are notable challenges for investors.

To maximize rental income, consider offering the unit furnished for short- or mid-term rentals, targeting seasonal visitors or working professionals—this can push rents toward the upper end of the range. If selling, highlight the rare split-bedroom layout, private entrance for the second bedroom, high-impact windows, and proximity to the beach and nightlife. Address flood risk and insurance proactively, as savvy investors will ask. Upgrading common amenities or negotiating HOA improvements could further boost value.