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Condominium
$225,000$369 / sqft
1610 Michigan Ave # 5, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
610 sqft
Interior
1940
Year built
$720 / mo
HOA
Condominium
Type
About this home
Half a block from Lincoln Road, in the heart of South Beach! This 1-bedroom, 1-bath, 610 SF residence at Lincoln Road Villas offers an opportunity to own a piece of Miami Beach at an approachable price point. Located on the first floor, the condo features wood floors, a comfortable living area, and a generously sized bedroom. Step outside and enjoy the convenience of having Lincoln Road's cafés, restaurants, shops, galleries, and entertainment just moments away. Nearby Flamingo Park offers tennis, pickleball, a swimming pool, and recreational facilities, while Española Way and the beach are also within easy reach. Whether you're looking for a Miami Beach home base, a seasonal retreat, or an investment property, this location offers the freedom to enjoy South Beach without needing a car for everything. Currently tenant-occupied on a month-to-month basis, paying $1,950/month.
Features
- First Floor Entry
- No Interior Features
- None
- Other View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Ok To Lease
- Okay To Lease 1st Year
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 1-bed rentals in Miami Beach, from 200 active listings; the middle half ask $2,300–$3,900.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.