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557 Michigan Ave # 115, Miami Beach FL 33139
About this home
Great renovated 1-bedroom, 1-bathroom condo in a Prime location. Enjoy the benefit of an exceptionally low monthly HOA for the area, with no special assessments. This property is currently tenant-occupied, providing immediate rental income from the day of closing. Located in a rapidly growing neighborhood, it also offers excellent flexibility for investors, with the ability to rent every 30 days. Just steps from the beach, upscale dining, and premier shopping, this is an outstanding opportunity for both investors and future homeowners seeking a property in one of the area's most sought-after locations.
Features
- First Floor Entry
- None
- Other
- Garden View
Location
Approximate — shows the building, not the unit. Open in maps (opens in a new tab)
Estimated loan & HOA
Loan payment and HOA only. Property tax and insurance are significant here and are not included.
- Principal & interest
- $1,188
- HOA
- $450 / mo
Illustration only — not a loan offer, quote, or commitment. Assumes a 30-year loan at 6.5% with 20% down (rates as of July 2026); your actual terms will differ.
Schedule a tour
Request a private or video tour with a local agent.
Run the numbers
We fill in the price and the building's HOA dues. That leaves rent, tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Vacancy and the loan terms below start at common defaults; change them.
Enter rent, 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. 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.