All listings
Active
Active1 / 28
Photo 1 of 28
Waterfront · Condominium
$425,000$411 / sqft
2200 Bay Dr # 3, Miami Beach FL 33141
Listed
2
Bedrooms
2
Bathrooms
1,035 sqft
Interior
1951
Year built
$873 / mo
HOA
Condominium
Type
About this home
Investor Opportunity: Normandy Island. Enjoy stunning sunsets from this private 2-bed/2-bath, split-layout unit located on Bay Drive West, nestled on a quiet, no-outlet street. Could Rent for $3,000/month +/- fully renovated, or can be leased as-is for \$2,500/month +/-. Additional; low monthly maintenance, new seawall, dock, and pool, and the building has successfully passed the 40-year recertification, ensuring structural integrity and compliance. Near Golf, tennis & kid parks, safe community. Possible future developer land play opportunity with 2 four unit, single-level buildings and a 2 level building with 18-units, totaling 26 unit condominium. The entire property sits on approx. 35,000 SF with an impressive 220 feet of Biscayne Bay frontage. With $5 billion + in new construction underway in the area.
Features
- First Floor Entry
- Split Bedroom
- Barbeque
- Courtyard
- Fruit Trees
- Bay
- Garden 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 2-bed rentals in Miami Beach, from 200 active listings; the middle half ask $3,595–$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.