WorkspaceDiscoverCondo · Miami · Miami-Dade County
31 SE 5th St #3916, Miami
River views and Riverwalk access advertised; two bedrooms and two-and-a-half bathrooms. Currently leased, with rent and lease end unverified.
Recorded status: Public page reports for sale; recheck availability. Checked: .
Dated listing record · recheck availability and legal unit count.
- Est. gross yield at asking
- 4.9% Estimate · rent potential ÷ asking price
- Asking price
- $590,000
Rent potential · Estimate: $2,414/moBroad HUD benchmark, not property-specific market rent or current collections.
- Estimated annual NOI
- -$10,495 Before debt and capital reserves
- Estimated cap rate
- -1.8% Modeled NOI ÷ purchase price
- Est. cash flow / mo
- -$947 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 | $1,631 | 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 individual 2-bedroom condo; 1,335 interior SF.
- Reported units
- 1
- Reported listing area
- 1,335 sq ft
- Asking / reported sq ft
- $442
- HOA / month
- $1,631
Broker info & key considerations To confirm
- Short sale: lender approval, price and closing timing need confirmation. Tax fields conflict ($11,090 annual field versus $10,435 for 2025 in public tax history); tax is left unknown.
- Public page reviewed November 6, 2026 from a cached web result; availability, asking price and HOA require current confirmation.
- No private river frontage or deeded dock is established. Association budget, reserves, assessments, insurance and lender eligibility remain unverified.
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
- Public sale listing · reviewed November 6, 2026; cached page, not live MLSSource observation · Nov 6, 2026
- Building setting only · not unit view or private frontageSource observation · Nov 6, 2026
Questions to resolve
- Confirm exact-unit availability, sale terms and HOA with the listing agent.
- Obtain current association budget, reserves/SIRS, assessments, estoppel, insurance and lender review.
Similar properties
- 4301 Collins Ave #403, Miami Beach: condo, asking $599,000
- 7135 Collins Ave #435, Miami Beach: condo, asking $581,000
- 475 Brickell Ave #612, Miami: condo, asking $569,000
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