WorkspaceDiscoverCondo · Miami · Miami-Dade County
1901 NW South River Dr #16B, Miami
Two-story, two-bedroom / one-and-a-half-bath condo townhome in the riverfront River Club community. Built 1983. The unit itself is not verified to front the river. Listing says tenant is moving out; possession is unconfirmed.
Recorded status: Public sale listing reports for sale; recheck availability. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 7.9% Estimate · rent potential ÷ asking price
- Asking price
- $369,000
Rent potential · Estimate: $2,414/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- $6,774 Before debt and capital reserves
- Estimated cap rate
- 1.8% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- $492 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) | 2% | Matches planning allowance |
| Annual insurance | $1,800 | Matches planning allowance |
| Annual owner-paid utilities | $600 | Matches planning allowance |
| Monthly HOA or condo fees | $560 | 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
One two-story condo townhome; 2 bedrooms / 1.5 bathrooms.
- Reported units
- 1
- Reported listing area
- 1,000 sq ft
- Reported year built
- 1983
- Asking / reported sq ft
- $369
- HOA / month
- $560
Broker info & key considerations To confirm
- Older low-rise condo research candidate only: no developer interest, bulk control, owner consent, termination plan or redevelopment capacity is established. Community river frontage is not individual-unit private frontage.
- Tenant move-out is a listing claim; verify lease, actual vacancy and possession terms. Current rent is unknown.
- Association land area, unit/folio count, zoning, reserves, assessments and termination requirements need documentary review. Dated public listing, not live availability.
Source evidence and diligence
Financial figures observed Nov 6, 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
- Redfin · exact MLS A11980776 · updated November 1; reviewed November 6Source observation · Nov 6, 2026
Questions to resolve
- Obtain declaration, plat, association parcel boundaries, owner/folio count, budgets, reserves, assessments and meeting minutes.
- Review zoning and development capacity, control/consent and legal termination requirements before considering assemblage; no buyout is established.
Similar properties
- 31 SE 5th St #409, Miami: condo, asking $359,000
- 5005 Collins Ave #424, Miami Beach: condo, asking $399,000
- 6905 Bay Dr #16, Miami Beach: condo, asking $399,000
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