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Waterfront · Condominium
$620,000$1,000 / sqft
405 N Hibiscus Dr # 204, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
620 sqft
Interior
1960
Year built
$727 / mo
HOA
Condominium
Type
About this home
Rarely available Hibiscus Island condominium offering boutique waterfront living in one of Miami Beach's most exclusive gated communities. One of only 20 residences in the building, this 1-bedroom, 1-bath home spans 620 square feet and is surrounded by some of the area's most iconic bayfront estates. The residence features an in-unit washer and dryer, a deeded parking space, and access to outstanding waterfront amenities. Enjoy a bayfront swimming pool, BBQ gazebo, and community dock with rentable boat slips available through the association for an additional fee, ideal for boating and water enthusiasts. Flexible and low-maintenance, this property works beautifully as a primary residence, seasonal getaway, investment property, or lock-and-leave pied-à-terre. It can also serve as a guest suite, home office, or additional living space for nearby Hibiscus, Palm, and Star Island homeowners. Residents benefit from the privacy and security of a guard-gated island, plus access to tennis courts, basketball courts, a playground, and scenic walking and biking streets. Located just minutes from South Beach, Brickell, the Design District, Wynwood, Downtown Miami, major airports, marinas, dining, shopping, and entertainment, this Hibiscus Island condo delivers a rare combination of tranquil island living and central Miami Beach convenience at a price point seldom found on the island.
Features
- Second Floor Entry
- None
- Open Balcony
- Other View
Leasing
- Minimum lease
- 180 days
- Leases permitted per year
- 2
- Ok To Lease
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 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,300–$3,850.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.