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Waterfront · Condominium
$1,200,000$1,935 / sqft
405 N Hibiscus Dr # 202, Miami Beach FL 33139
Listed
1
Bedrooms
1
Bathrooms
620 sqft
Interior
1960
Year built
$727 / mo
HOA
Condominium
Type
About this home
Incredible opportunity to own a private island residence on prestigious Hibiscus Island in Miami Beach. This charming one-bedroom, one-bathroom residence is located in the island’s only condominium building, surrounded by impressive multimillion-dollar homes and offering a rare combination of privacy, tranquility, and exclusivity. The property features a waterfront swimming pool, BBQ gazebo, one assigned parking space, and additional guest parking. Hibiscus Island offers an exceptional lifestyle with tennis and basketball courts, a playground, and dedicated bike lanes—perfect for enjoying an active yet relaxed island lifestyle. A gated entrance, monitored by the Miami Beach Police Department, provides an added level of security and peace of mind. A rare opportunity to experience the best of Miami Beach island living in a private, secure, and highly sought-after community.
Features
- Second Floor Entry
- Walk-In Closet(s)
- Barbeque
- Open Balcony
- Tennis Court(s)
- Bay
- Canal
- Intracoastal View
- Ocean View
- Direct Ocean
- Water View
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 $2,350–$4,500.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.