WorkspaceDiscoverCondo · Miami Beach · Miami-Dade County
5005 Collins Ave #424, Miami Beach
Carriage Club North: advertised 2-bedroom, 1,350 sq ft unit at $399,000 with $1,760 monthly HOA.
Recorded status: Public listing page: active. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 7.3% Estimate · rent potential ÷ asking price
- Asking price
- $399,000
Rent potential · Estimate: $2,414/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- -$7,736 Before debt and capital reserves
- Estimated cap rate
- -1.9% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- -$717 All cash · after reserves
Assumptions behind these estimates
Starting values for this brief. Change any of them in the interactive brief; your changes stay in your browser. Default values
| Input | Value | Basis |
|---|---|---|
| Total scheduled rent per month | $2,414 | HUD-based planning rent |
| Vacancy (%) | 5% | Matches planning allowance |
| Management (% of collected rent) | 8% | Matches planning allowance |
| Maintenance (% of total rent) | 5% | Matches planning allowance |
| Buyer annual tax assumption (% of price) | 1.88% | Matches planning allowance |
| Annual insurance | $1,800 | Matches planning allowance |
| Annual owner-paid utilities | $600 | Matches planning allowance |
| Monthly HOA or condo fees | $1,760 | Matches source observation |
| Other annual operating expenses | $600 | Matches planning allowance |
| Capital reserves (% of total rent) | 3% | Matches planning allowance |
| Down payment (%) | 100% | Matches planning allowance |
| Mortgage rate (%) | 7% | Matches planning allowance |
Unit mix & possession
2 bedrooms advertised; one condo unit
- Reported units
- 1
- Reported listing area
- 1,350 sq ft
- Asking / reported sq ft
- $296
- HOA / month
- $1,760
- Historical property tax / year
- $8,083
- HOA + historical tax / month
- $2,434
$2,434/month goes to reported HOA and historical tax alone. Rental income would have to cover this plus the remaining ownership costs.
HOA + historical tax only. Excludes insurance, assessments, upkeep and financing; buyer taxes can change.
Broker info & key considerations To confirm
- Seller claims no current assessments and completed recertifications; obtain the association estoppel and reports.
- New-owner rental rules are unverified. Previous rental asking prices are not signed lease income.
Source evidence and diligence
Financial figures observed Sep 25, 2026. Reported income is not audited collections. Editable estimates, financing and saved assumptions are separate from these source facts.
Gross rental yield basis
Displayed whole-property scheduled rent × 12 divided by source asking price, not your saved offer. HUD-based planning rent: FY2027 HUD FMR for Miami-Miami Beach-Kendall, FL HUD Metro FMR Area (METRO33100MM5000), effective October 1, 2026. Documented bedrooms per offered unit: 2. Published gross housing benchmark $2,564/month includes major utilities, excluding phone, cable/satellite TV and internet. Subtract $150/month ($150/unit) for assumed tenant-paid electricity; remaining owner-paid services use the separate displayed utility budget. This electricity amount is editable budgeting policy, not a verified allowance or conservative bound. Replace scheduled rent and utility inputs with leases, payer terms and local bills. The adjusted $2,414/month is a full-occupancy scenario, not a rental appraisal, lease offer, subsidy payment standard or eligibility decision. Full-occupancy potential before vacancy, operating costs, financing and income tax; not current collections, cap rate or cash return.
Sources
- Premier Listings / A12066695 · checked 25 Sep; listing update 23 SepSource observation · Sep 25, 2026
- Listing page on zillow.comWorkbook observation · Sep 23, 2026
- Workbook supporting source · 23 SepWorkbook observation · Sep 23, 2026
Questions to resolve
- Obtain current estoppel, budget, reserves, insurance and assessment balances.
- Confirm new-owner rental eligibility and lease limits in writing.
- Inspect the unit and building reports; price immediate work and HO-6 insurance.
Similar properties
- 6905 Bay Dr #16, Miami Beach: condo, asking $399,000
- 1901 NW South River Dr #16B, Miami: condo, asking $369,000
- 6039 Collins Ave #534, Miami Beach: condo, asking $430,000
Florida property research
Research scope includes Miami-Dade, Broward, the Florida Keys and Flagler County. Published observations vary by market.
[1] Gross yield excludes costs and financing. Source figures are unverified; estimates use editable assumptions. Check current listing availability. County records are separate from listings. Saves stay in this browser; export a backup before clearing site data. Sources & methods