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$595,000

For Sale - Active
13800 Highland Dr Unit 601, North Miami Beach, FL 33181
2 Beds
2 Baths
1,097 Square Feet
0.00 Acres Lot
Built in 2019
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: May 16, 2025 at 03:23AM

Investment Summary


Monthly Cash Flow
-$2,118
Cap Rate
2.0%
Cash-on-Cash Return
-18.6%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-13.9%

Property Description


0.00 Acres Lot
Built in 2019
For Sale - Active
Units n/a

Enjoy the luxury lifestyle in this beautiful 2 bed/2 bath corner unit. The spacious layout, modern finishes, and expansive balcony create a truly inviting atmosphere. Building amenities include: fitness center, and heated swimming pool, jacuzzi and multipurpose room. Experience the best of South Florida living with easy access to world-class ,shopping, dining, and beaches. 2 covered parking spaces. Washer and dryer in the unit. Driving Directions:

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Location


Property Details


Parking

  • Description: Assigned, Garage, GarageDoorOpener
  • Details: Covered, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 7

Exterior Features

  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $685/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0722210390050
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2019

Tax Information

  • Annual Tax: $8,899

Utilities

  • Heating: Electric
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Maria Iraola Ojeda
United Realty Group - Weston
(786) 425-7760

Source:
MIAMI REALTORS MLS
MLS#: A11766512
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$2,118
Cap Rate
2.0%
Cash-on-Cash Return
-18.6%
Debt Coverage Ratio
0.32
Internal Rate of Return (5 years)
-13.9%

Purchase Details

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Purchase price:
$595,000
Amount financed:
-$476,000
Down payment:
$119,000
Closing costs:
$17,850
Rehab costs:
$0
Initial cash invested:
$136,850
Square feet:
1,097
Cost per square foot:
$542
Monthly rent per square foot:
$3.19

Financing Details

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Loan amount:
$476,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$3,106
Property tax:
$742
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,093

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$742-$8,899
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (20%)
20%-$685-$8,220
Total operating expenses: (66%)
66%-$2,302-$27,619

Cash Flow


Monthly Yearly
Net operating income:
$988 $11,856
Mortgage payments:
-$3,106 -$37,272
Cash flow:
$2,118 $25,416