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Waterfront · Condominium
$950,000$728 / sqft
5 Island Ave # 3C, Miami Beach FL 33139
Listed
2
Bedrooms
2
Bathrooms
1,305 sqft
Interior
1967
Year built
$1,924 / mo
HOA
Condominium
Type
About this home
Enjoy sweeping sunsets over Biscayne Bay and the Miami skyline from this desirable corner residence at Island Terrace. Located on the Venetian Islands, this spacious 2-bedroom, 2-bath home features a generous living area, custom closets, and an ideal layout for both everyday living and entertaining. The building’s waterfront pool and BBQ area offer picturesque bay views and a front-row seat to passing boats, while a newly renovated gym adds to the amenities. Just moments from the scenic parks and pathways of the Venetian Islands, enjoy an easy bike ride to the beach or a morning walk along the bay. Sunset Harbour’s popular restaurants, fitness studios, shops, and cafés are also within walking distance. A rare opportunity to live in one of the building’s most sought-after lines and enjoy the best of the Venetian Islands lifestyle.
Features
- Walk-In Closet(s)
- Open Balcony
- Bay
- Intracoastal View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- No Lease-1st Year Owned
- Renting Limited
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals in Miami Beach, from 200 active listings; the middle half ask $3,600–$10,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.