1137 NE 31st Ter
Homestead, FL 33033 · townhomes · Pending — under contract · 175 days on market
Asking price$329,000
4 beds 3 baths 1,592 sqft
Listed by Summer Brady · Open Exchange Brokerage, LLC
Typetownhomes
Built2007
Price / sqft$207
Est. value (own analysis)$331,295
Rent estimate (own analysis)$2,800/mo
HOA$200/mo
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Statusfor_sale
Listed date2026-03-11
Removed date—
MLSBeachesMLS #F10526228
Coordinates25.48197, -80.43054
Address1137 NE 31st Ter
CityHomestead
StateFL
Zip33033
Listing ID5036454780
Sourceus-real-estate-listings, cached 2026-08-27
ZIP market snapshot (33033)
Typical home value (ZHVI)$436,367
Typical rent (ZORI)$2,539/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 | $329,000 |
| Down payment (20.0%) | $65,800 |
| Loan amount | $263,200 |
| Closing costs (5.0%) | $16,450 |
| Total cash to close | $82,250 |
| Income | |
| Rent (comp-derived) | $2,800$33,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,576$30,912 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $521$6,251 |
| Insurance (placeholder 0.8% of price) | $219$2,632 |
| HOA dues | $200$2,400 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $140$1,680 |
| Total operating expenses | $1,080$12,963 |
| 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) | $140$1,680 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 4 | 3 | 1,580 | $2,195 | 2026-06-17 | — | |
| townhomes | 4 | 3 | 1,544 | $2,450 | 2026-08-03 | — | |
| townhomes | 4 | 3 | 1,546 | $2,500 | 2026-05-29 | — | |
| townhomes | 4 | 3 | 1,544 | $2,395 | 2026-08-06 | — | |
| townhomes | 4 | 3 | 1,544 | $2,550 | 2026-08-24 | — | |
| townhomes | 4 | 4 | 1,762 | $2,850 | 2026-08-13 | — | |
| townhomes | 4 | 3 | 2,005 | $3,000 | 2026-07-31 | — | |
| townhomes | 4 | 3 | 1,546 | $2,750 | 2026-07-14 | — | |
| townhomes | 4 | 3 | 1,705 | $3,000 | 2026-07-04 | — | |
| townhomes | 4 | 3 | 1,856 | $4,700 | 2026-08-12 | — | |
| townhomes | 4 | 3 | 1,820 | $2,800 | 2026-06-10 | — | |
| townhomes | 4 | 3 | 1,927 | $3,100 | 2026-07-09 | — | |
| townhomes | 4 | 3 | 2,002 | $3,600 | 2026-09-01 | — |
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.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 3701 NE 4th St | townhomes | 4 | 3 | 1,683 | $385,000 | 2026-08-27 |
| 1137 NE 31st Ter | townhomes | 4 | 3 | 1,592 | $320,000 | 2026-08-25 |
| 207 SE 37th Pl | townhomes | 4 | 3 | 2,040 | $370,000 | 2026-08-07 |
| 1072 NE 30th Ave | townhomes | 4 | 3 | 1,580 | $340,000 | 2026-08-03 |
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 |
|---|---|---|---|---|---|---|
| 16200 SW 320th St | single_family | 4 | 3 | 2,267 | $690,990 | — |
| 16314 SW 291 St Unit 16314 | condo_townhome_rowhome_coop | 4 | 3 | — | $385,000 | — |
| 17360 SW 286 St | single_family | 4 | 3 | 2,217 | $724,690 | — |
| 2570 SE 4th Pl | single_family | 4 | 3 | 2,098 | $485,000 | — |
| 13411 SW 285th St | single_family | 4 | 3 | 2,598 | $552,000 | — |
| 729 SE 34th Ave | single_family | 4 | 2 | 1,670 | $444,444 | — |
| 15624 SW 297th Ter | single_family | 4 | 2 | 1,506 | $597,000 | — |
| 977 NE 37th Pl | single_family | 4 | 3 | 2,020 | $455,000 | — |
10-year hold projection
IRR7.4%
Equity multiple2.18x
Total return (10yr)$139,682
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $338,870 | $17,949 | -$4,028 | $260,346 | $78,524 |
| 2 | $349,036 | $18,552 | -$3,466 | $257,297 | $91,739 |
| 3 | $359,507 | $19,175 | -$2,886 | $254,038 | $105,469 |
| 4 | $370,292 | $19,819 | -$2,287 | $250,555 | $119,737 |
| 5 | $381,401 | $20,483 | -$1,668 | $246,833 | $134,568 |
| 6 | $392,843 | $21,169 | -$1,028 | $242,855 | $149,988 |
| 7 | $404,629 | $21,877 | -$368 | $238,605 | $166,024 |
| 8 | $416,767 | $22,609 | $315 | $234,062 | $182,705 |
| 9 | $429,270 | $23,364 | $1,021 | $229,208 | $200,063 |
| 10 | $442,148 | $24,144 | $1,749 | $224,020 | $218,129 |
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.