1861 NW S River Dr Unit 2408
Miami, FL 33125 · condos · For Sale · 93 days on market
Asking price$350,000
1 beds 2 baths 987 sqft
Listed by Grace J Barbosa · Volke Real Estate Llc
Typecondos
Built2010
Price / sqft$355
Est. value (Zillow ZIP avg)$466,681
Rent estimate (own analysis)$2,452/mo
HOA$1,216/mo
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Statusfor_sale
Listed date2026-06-01
Removed date—
MLSBeachesMLS #B26035415
Coordinates25.78522, -80.22590
Address1861 NW S River Dr Unit 2408
CityMiami
StateFL
Zip33125
Listing ID5001480981
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33125)
Typical home value (ZHVI)$466,681
Typical rent (ZORI)$2,360/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.
Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $350,000 |
| Down payment (20.0%) | $70,000 |
| Loan amount | $280,000 |
| Closing costs (5.0%) | $17,500 |
| Total cash to close | $87,500 |
| Income | |
| Rent (comp-derived) | $2,452$29,424 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,256$27,070 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $554$6,650 |
| Insurance (placeholder 0.8% of price) | $233$2,800 |
| HOA dues | $1,216$14,592 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $123$1,471 |
| Total operating expenses | $2,126$25,513 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $123$1,471 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 1 | 1 | 738 | $2,335 | 2025-08-14 | — | |
| apartment | 1 | 1 | 656 | $2,403 | 2025-12-31 | — | |
| condos | 1 | 1 | 887 | $2,500 | 2026-08-20 | — | |
| apartment | 1 | 1 | 1,261 | $1,480 | 2026-08-19 | — | |
| apartment | 1 | 1 | 663 | $2,510 | 2025-12-17 | — | |
| apartment | 1 | 1 | 835 | $2,578 | 2024-04-12 | — | |
| apartment | 1 | 1 | 663 | $2,141 | 2025-10-06 | — | |
| apartment | 1 | 1 | 793 | $2,201 | 2024-12-13 | — | |
| apartment | 1 | 1 | 648 | $1,900 | 2024-12-13 | — | |
| apartment | 1 | 1 | 690 | $2,250 | 2026-08-07 | — | |
| apartment | 1 | 1 | 650 | $1,400 | 2026-07-20 | — | |
| condos | 1 | 1 | 736 | $2,150 | 2026-07-14 | — | |
| condos | 1 | 1 | 700 | $1,700 | 2026-07-08 | — | |
| condos | 1 | 1 | 1,300 | $1,500 | 2026-07-02 | — | |
| apartment | 1 | 1 | 670 | $2,200 | 2026-06-29 | — | |
| condos | 1 | 1 | 742 | $2,500 | 2026-06-17 | — | |
| condos | 1 | 1 | 700 | $2,299 | 2026-06-10 | — | |
| condos | 1 | 2 | 935 | $2,700 | 2026-05-06 | — | |
| condos | 1 | 1 | 649 | $1,800 | 2026-08-03 | — | |
| condos | 1 | 2 | 960 | $2,600 | 2026-04-03 | — | |
| condos | 1 | 1 | 736 | $2,300 | 2026-02-17 | — | |
| apartment | 1 | 1 | 700 | $1,950 | 2026-08-25 | — | |
| apartment | 1 | 1 | 760 | $3,250 | — | — | |
| apartment | 1 | 1 | 738 | $2,528 | — | — | |
| apartment | 1 | 1 | 747 | $2,299 | — | — | |
| apartment | 1 | 1 | 835 | $2,695 | — | — | |
| apartment | 1 | 1 | 835 | $2,723 | — | — | |
| apartment | 1 | 1 | 668 | $2,443 | — | — | |
| apartment | 1 | 1 | 662 | $2,665 | — | — | |
| apartment | 1 | 1 | 954 | $2,468 | — | — | |
| apartment | 1 | 2 | 957 | $2,670 | — | — | |
| apartment | 1 | 2 | 957 | $2,670 | — | — | |
| apartment | 1 | 1 | 805 | $2,368 | — | — | |
| apartment | 1 | 1 | 805 | $2,268 | — | — | |
| apartment | 1 | 1 | 654 | $2,461 | — | — | |
| apartment | 1 | 1 | 954 | $2,443 | — | — | |
| apartment | 1 | 1 | 654 | $2,806 | — | — | |
| apartment | 1 | 1 | 805 | $2,268 | — | — | |
| apartment | 1 | 1 | 720 | $2,350 | — | — | |
| apartment | 1 | 1 | 805 | $2,218 | — | — | |
| apartment | 1 | 1 | 654 | $2,676 | — | — | |
| apartment | 1 | 1 | 668 | $2,575 | — | — | |
| apartment | 1 | 1 | 720 | $2,350 | — | — | |
| apartment | 1 | 1 | 766 | $2,829 | — | — | |
| apartment | 1 | 1 | 771 | $2,876 | — | — | |
| apartment | 1 | 1 | 766 | $2,834 | — | — | |
| apartment | 1 | 1 | 1,000 | $2,428 | — | — | |
| apartment | 1 | 1 | 755 | $2,399 | — | — | |
| apartment | 1 | 1 | 805 | $2,583 | — | — | |
| apartment | 1 | 1 | 656 | $3,019 | — | — | |
| apartment | 1 | 1 | 767 | $3,447 | — | — | |
| apartment | 1 | 1 | 755 | $2,523 | — | — | |
| apartment | 1 | 1 | 767 | $3,486 | — | — | |
| apartment | 1 | 1 | 771 | $3,555 | — | — |
Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.
No recent recorded sales cached yet for this ZIP.
Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 1800 NW 24th Ave Apt 618 | condos | 1 | 1 | 604 | $180,000 | — |
| 1740 NW North River Dr Apt 419 | condos | 1 | 1 | 634 | $229,000 | — |
| 1 Glen Royal Pkwy Apt 809 | condos | 1 | 2 | 796 | $375,000 | — |
| 2170 NW Flagler Ter | multi_family | 1 | 1 | 13,530 | $4,500,000 | — |
| 315 NW 27th Ave Unit 303 | condos | 1 | 1 | 659 | $495,000 | — |
| 315 NW 27th Ave Unit 314 | condos | 1 | 1 | 659 | $495,000 | — |
| 1871 NW S River Dr Unit 1606 | condos | 1 | 2 | 804 | $320,000 | — |
| 1871 NW S River Dr Unit 1502 | condos | 1 | 2 | 803 | $299,000 | — |
10-year hold projection
IRR-6.2%
Equity multiple-0.05x
Total return (10yr)-$45,858
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $360,500 | $1,557 | -$21,507 | $276,964 | $83,536 |
| 2 | $371,315 | $1,731 | -$21,369 | $273,720 | $97,595 |
| 3 | $382,454 | $1,914 | -$21,224 | $270,253 | $112,202 |
| 4 | $393,928 | $2,105 | -$21,071 | $266,547 | $127,381 |
| 5 | $405,746 | $2,306 | -$20,910 | $262,588 | $143,158 |
| 6 | $417,918 | $2,516 | -$20,741 | $258,356 | $159,562 |
| 7 | $430,456 | $2,736 | -$20,563 | $253,834 | $176,622 |
| 8 | $443,370 | $2,966 | -$20,376 | $249,001 | $194,368 |
| 9 | $456,671 | $3,206 | -$20,179 | $243,837 | $212,834 |
| 10 | $470,371 | $3,458 | -$19,972 | $238,317 | $232,053 |
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.