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$300,000

For Sale - Active
15590 SW 106th Ln Apt 1102, Miami, FL 33196
2 Beds
2 Baths
918 Square Feet
0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: Aug 26, 2025 at 06:30PM

Investment Summary


Monthly Cash Flow
-$835
Cap Rate
2.8%
Cash-on-Cash Return
-14.5%
Debt Coverage Ratio
0.46
Internal Rate of Return (5 years)
-10.0%

Property Description


0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a

Beautiful Move-In ready, freshly painted interior 2 bedroom, 2 bath condo. Spacious kitchen with espresso tone cabinets, granite counter tops, breakfast bar area and full appliances. Neutral tone tile floors throughout living area and wood floors in bedrooms. Large master bedroom with walk in closet. Open balcony area to enjoy the upcoming fall weather. This unit comes complete with an interior laundry room that includes a washer and dryer. Located in the wonderful community of the Hammocks, close to A rated schools, transportation, shopping, restaurants and so much more! Pet friendly community with restrictions.

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Location


Property Details


Parking

  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 2

HOA

  • Has HOA: Yes
  • HOA Fee: $528/monthly

Land Information

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

Lot Information

  • Parcel ID: 3059090491380
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: GardenApartment
  • Year Built: 1988

Tax Information

  • Annual Tax: $3,455

Utilities

  • Heating: Central
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Miami Dade

Listing Details


Listed by:
Lisa Thomson
Coldwell Banker Realty
(786) 581-1106

Source:
MIAMI REALTORS MLS
MLS#: A11843968
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$835
Cap Rate
2.8%
Cash-on-Cash Return
-14.5%
Debt Coverage Ratio
0.46
Internal Rate of Return (5 years)
-10.0%

Purchase Details

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Purchase price:
$300,000
Amount financed:
-$240,000
Down payment:
$60,000
Closing costs:
$9,000
Rehab costs:
$0
Initial cash invested:
$69,000
Square feet:
918
Cost per square foot:
$327
Monthly rent per square foot:
$2.40

Financing Details

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Loan amount:
$240,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,537
Property tax:
$288
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,979

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$288-$3,455
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (24%)
24%-$528-$6,336
Total operating expenses: (62%)
62%-$1,366-$16,391

Cash Flow


Monthly Yearly
Net operating income:
$702 $8,424
Mortgage payments:
-$1,537 -$18,444
Cash flow:
$835 $10,020