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Waterfront · Condominium
$690,000$742 / sqft
5601 Collins Ave # 505, Miami Beach FL 33140
Listed
2
Bedrooms
2
Bathrooms
930 sqft
Interior
1968
Year built
None
HOA
Condominium
Type
About this home
Beautiful direct ocean front residence with breathtaking ocean views from almost every room. the spacious unit features two bedrooms and two full bathrooms, an exceptional floor plan, and abundant closet space throughout. The building offers outstanding amenities including a magnificent fully equipped gym, a heated swimming pool, BBQ area in the backyard, and a 24 hours security for comfort and peace of mind. Short terms rentals (VRBO) are permitted, making this property and excellent income-producing investment or the perfect place to relax and enjoy life by the peaceful ocean.
Features
- First Floor Entry
- Barbeque
- Direct Ocean
Leasing
- Minimum lease
- 30 days
- Leases permitted per year
- 12
- No Daily Rentals
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.
Location
Approximate — shows the building, not the unit. Open in maps (opens in a new tab)
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.