Luna - Real Estate AI Assistant
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Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented long-term for an average of $5,968 per month, based on comparable local listings. Estimated long-term cap rate of -0.8%. Rarely available 2-bed, 2-bath corner residence in a highly desirable boutique building, nestled in the prestigious South of Fifth neighborhood. Ideally located just a short 5-minute stroll from the best of SoFi, including pristine beaches, world-class restaurants, and South Pointe Park. Directly across from the renowned South Pointe Elementary School, this residence offers unparalleled convenience. This exceptional unit boasts French doors, a spacious private balcony, perfect for enjoying pool deck views & stunning morning sunrises. With modern polished concrete floors, impact windows/doors for enhanced security, the home also features ample storage, including custom cedar closet cabinetry. The 28-unit building is meticulously maintained, carries full reserves, & no special assessments.
Monthly Rent | $5,968 |
Monthly HOA | $1209 |
Rental Policy | STR Restrictions |
Yearly Taxes | $9984 |
Bedrooms | 2 |
Bathrooms | 2 |
SQFT | 1,020 |
Furnished | N/A |
Year built | 2000 |
Listing Status | Off Market |
MLS | A11781722 |
Interest rate
Let’s analyze a 30-year fixed-rate mortgage for $849,900 at today’s interest rate of 0.07%.
The initial loan size, equal to your condo price: $849,900.
The monthly cost of borrowing, based on an annual rate of 0.07% (divided by 12).
Over 30 years, you’ll make 360 payments (30 years × 12 months).
Estimated monthly Homeowner Association fees: $1209.
Yearly taxes of $9984, divided by 12 for a monthly estimate.
Combining principal, interest, payments, HOA fees, and taxes, your approximate yearly mortgage expenses are $78,768.
The capitalization (cap) rate measures a property’s rate of return based on its income. It’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $-7,152.
The estimated property value based on recent sales of similar properties: $849,900.
For a property with an NOI of $-7,152 per year and a market value of $849,900:
Formula: NOI / Current Market Value
$-7,152 / $849,900 = -0.8%
The capitalization (cap) rate measures a property’s rate of return based on its income. For short-term rentals, it’s calculated by dividing the Net Operating Income (NOI) by the Current Market Value, expressed as a percentage.
The income after operating expenses (e.g., management, maintenance, insurance), calculated as gross rental income minus these costs: $-78,768.
The estimated property value based on recent sales of similar properties: $849,900.
For a property with an NOI of $-78,768 per year and a market value of $849,900:
Formula: NOI / Current Market Value
$-78,768 / $849,900 = -9.3%
Interest rate
Cash on Cash Return is a key real estate metric that measures the annual cash income earned relative to the cash invested, expressed as a percentage. It’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $849,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $-7,152:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$-7,152 / ($849,900 × 0.2 + $849,900 × 0.03) = -3.7%
Cash on Cash Return measures the annual cash income earned from a property relative to the cash invested, expressed as a percentage. For short-term rentals, it’s calculated by dividing the Annual Pre-Tax Cash Flow by the Total Cash Invested.
The property’s yearly income after operating expenses, excluding financing costs.
Includes your down payment plus additional costs like closing fees.
For a property priced at $849,900 with a 20% down payment and 3% closing costs, and an annual pre-tax cash flow of $-78,768:
Formula: Annual Pre-Tax Cash Flow / Total Cash Invested
$-78,768 / ($849,900 × 0.2 + $849,900 × 0.03) = -40.3%
Here’s how we calculate your potential yearly revenue for short-term rentals:
We start with 365 days, the total number of days in a year.
The percentage of the year your property is rented out: Hidden%.
Calculated as 365 days × occupancy rate (Hidden%).
The amount charged per day: Hidden.
Rented days × daily rental rate.
Typically 3% of rental income, plus additional fees like HOA or property-specific costs.
Gross rental income minus fees: $0.
Using the rented days, daily rental rate, and applicable fees, your potential yearly revenue is approximately:
$0
Note: Some properties may have additional short-term rental fees (e.g., 15% at Club at Brickell, Edgewater, Miami), which are included in this calculation.
Monthly Rent Revenue
Yearly Rent Revenue
*Estimate based on similar properties in the area.
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