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Condominium
$800,000$784 / sqft
227 Michigan Ave # 406, Miami Beach FL 33139
Listed
2
Bedrooms
2
Bathrooms
1,020 sqft
Interior
2000
Year built
$1,325 / mo
HOA
Condominium
Type
About this home
Rarely available coveted corner unit in desirable boutique building located in exclusive South of Fifth neighborhood. This 2 bed 2 bath modern polished unit has chic concrete floors, custom cedar closets, impact windows and an expansive master bath. French doors open to large balcony overlooking the Mediterranean resort style pool. Ideal location, with less than a 5 min walk to all that SoFi has to offer including beach, restaurants and parks. Directly across the street from “A-Rated” South Pointe Elem. Well maintained building with covered secure parking.
Features
- First Floor Entry
- Built-in Features
- East Of Us1
- Courtyard
- Open Balcony
- Pool Area View
- Skyline
Leasing
- Minimum lease
- 360 days
- Leases permitted per year
- 1
- Daily Rentals Allowed
- No Lease-1st Year Owned
The leasing terms stated for this listing contradict each other. They all come from one MLS record and none of them overrides another — confirm with the association before relying on any of them.
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.