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Condominium
$665,000$707 / sqft
227 Michigan Ave # 405, Miami Beach FL 33139
Listed
2
Bedrooms
2
Bathrooms
940 sqft
Interior
2000
Year built
$1,211 / mo
HOA
Condominium
Type
About this home
Exceptional value in South of Fifth. Tucked on a quiet, tree-lined street in one of Miami Beach’s most coveted neighborhoods, this corner 2-bedroom, 2-bath residence offers a desirable South Beach lifestyle in a premier walkable setting. Hardwood floors and multiple impact-glass sliding doors bring natural light into the living areas and create an easy indoor-outdoor connection. The oversized private terrace extends the living space, offering room for outdoor dining, relaxing, and enjoying sunset skies. The residence includes an in-unit washer/dryer, a newer A/C system, and two assigned covered parking spaces, a rare convenience in South of Fifth, plus access to the building’s pool. Conveniently located near Miami Beach South Pointe Elementary School and just moments from the beach, South Pointe Park, the marina, and acclaimed dining, this is an opportunity to own in one of Miami Beach’s most sought-after walkable neighborhoods.
Features
- Built-in Features
- Closet Cabinetry
- Walk-In Closet(s)
- Open Balcony
- Bay
- Skyline
- Water View
Leasing
- Minimum lease
- 180 days
- Leases permitted per year
- 1
- No Lease-1st Year Owned
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.