In review of the top condo deals in Sunny Isles Beach today, here are the selected buys..
Trump Palace ~ 18101 COLLINS AV # 1403
Paid $310k in 03/2006
On Market Since 11/2008 Orig. $750k
Taxes (2008) $7,357 (Homestead)
Maintenance $939 (x12) $11,268
Rental Income $3000 (x12) $36,000
Rental Service Fee $3000
TOTAL = $21,625 (costs) – $36,000 = $14,375 (2% ROI)
18101 Collins Ave # 4208
Paid $1.040M on 3/2008
On Market Since 04/2009 Orig. $1.299M
Taxes (2008) $19,985.89
Maint $1,426 (x12) $17,112
Rental Income $4250 (x12) $51,000
Rental Service Fee $4250
TOTAL = $41,347.89 (costs) – $51,000 = $9,652 (1% ROI)
18101 Collins Avenue #PH5202
Paid $850k in 08/2006
On Market Since 08/2008 Orig. $1.3M
Taxes (2008) $16,372
Maint $1,020 (x12) $12,240
Rental Income $3,250 (x12) $39,000
Rental Service Fee $3,250
TOTAL = $31,862 (costs) – $39,000 = $7,138 (1% ROI)
18101 Collins Avenue #1406
Paid $650k on 12/2006
On Market Since 08/2008 Orig. $650k
Taxes (2008) $8,596
Maint $881 (x12) $10,572
Rental Income $2,250 (x12) $27,000
Rental Service Fee $2,250
TOTAL = $21,418 (costs) – $27,000 = $5,582 (1% ROI)
Turnberry Ocean Colony ~ 16051 Collins Avenue #2602
Paid $984,400 on 06/2006
On Market Since 3/2009 Orig. $1.395M
Taxes (2008) $20,130
Maint $2,500 (x12) $30,000
Rental Income $5,500 (x12) $66,000
Rental Service Fee $5,500
TOTAL = $55,630 (costs) – $66,000 = $10,370 (1% ROI)
Discrepancies, Questions, Inquiries? Call.. 1.888.383.7326 or Ashton@MiamiDreamRealty.com
