2651 SE 12th Rd Unit 105
Homestead, FL 33035 · condos · For Sale · 160 days on market
Asking price$199,000
2 beds 2 baths 822 sqft
Suggested offer$164,000$35,000 above the est. market value of $164,000.
View on Realtor.com →Listed by Karen Alonso Ruiz · EXP Realty, LLC
Typecondos
Built2003
Price / sqft$242
Est. value (own analysis)$164,000
Rent estimate (own analysis)$1,800/mo
HOA$345/mo
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Statusfor_sale
Listed date2026-03-26
Removed date—
MLSMiamiMLS #A11990194
Coordinates25.44466, -80.45938
Address2651 SE 12th Rd Unit 105
CityHomestead
StateFL
Zip33035
Listing ID5051416796
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33035)
Typical home value (ZHVI)$331,237
Typical rent (ZORI)$2,328/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 | $199,000 |
| Down payment (20.0%) | $39,800 |
| Loan amount | $159,200 |
| Closing costs (5.0%) | $9,950 |
| Total cash to close | $49,750 |
| Income | |
| Rent (comp-derived) | $1,800$21,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,656$19,872 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $315$3,781 |
| Insurance (placeholder 0.8% of price) | $133$1,592 |
| HOA dues | $345$4,140 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $90$1,080 |
| Total operating expenses | $883$10,593 |
| 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) | $90$1,080 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 2 | 2 | 815 | $1,600 | 2026-02-11 | — | |
| condos | 2 | 2 | 815 | $1,600 | 2026-07-08 | — | |
| condos | 2 | 2 | 822 | $1,653 | 2026-01-24 | — | |
| condos | 2 | 2 | 1,070 | $1,800 | 2026-05-19 | — | |
| condos | 2 | 2 | 815 | $1,590 | 2026-07-31 | — | |
| condos | 2 | 2 | 822 | $1,600 | 2026-06-28 | — | |
| condos | 2 | 2 | 815 | $1,750 | 2026-08-24 | — | |
| condos | 2 | 2 | 815 | $1,800 | 2026-06-24 | — | |
| condos | 2 | 2 | 815 | $1,600 | 2026-03-03 | — | |
| condos | 2 | 3 | 1,065 | $1,850 | 2026-07-24 | — | |
| condos | 2 | 2 | 930 | $2,000 | — | — | |
| apartment | 2 | 2 | 815 | $1,800 | 2026-08-05 | — | |
| condos | 2 | 2 | 815 | $1,650 | 2026-05-27 | — | |
| condos | 2 | 2 | 822 | $1,700 | 2026-08-13 | — | |
| condos | 2 | 2 | 815 | $1,700 | 2026-08-18 | — | |
| condos | 2 | 2 | 815 | $1,750 | 2026-05-11 | — | |
| condos | 2 | 2 | 822 | $1,800 | 2026-07-27 | — | |
| condos | 2 | 2 | 815 | $1,800 | 2026-08-18 | — | |
| apartment | 2 | 2 | 1,070 | $2,100 | 2026-08-12 | — | |
| condos | 2 | 2 | 815 | $1,800 | 2026-05-19 | — | |
| condos | 2 | 2 | 822 | $1,800 | 2026-06-12 | — | |
| condos | 2 | 2 | 815 | $1,750 | 2026-06-17 | — | |
| condos | 2 | 2 | 930 | $1,850 | 2026-07-30 | — | |
| condos | 2 | 2 | 815 | $1,790 | 2026-06-17 | — | |
| condos | 2 | 2 | 815 | $1,900 | 2026-08-13 | — | |
| condos | 2 | 2 | 815 | $1,700 | 2026-06-23 | — | |
| condos | 2 | 2 | 1,070 | $2,100 | 2026-07-29 | — | |
| condos | 2 | 2 | 1,070 | $1,975 | 2026-05-23 | — | |
| condos | 2 | 2 | 822 | $1,900 | 2026-07-07 | — | |
| condos | 2 | 2 | 815 | $1,800 | 2026-08-11 | — | |
| condos | 2 | 2 | 815 | $1,900 | 2026-08-04 | — | |
| apartment | 2 | 2 | 914 | $2,000 | 2026-08-12 | — | |
| condos | 2 | 2 | 815 | $1,900 | 2026-06-20 | — | |
| condos | 2 | 2 | 822 | $1,625 | 2026-04-02 | — | |
| condos | 2 | 2 | 815 | $1,700 | 2026-05-28 | — | |
| condos | 2 | 2 | 1,070 | $2,200 | — | — | |
| condos | 2 | 2 | 815 | $1,700 | — | — | |
| condos | 2 | 2 | 815 | $1,800 | — | — | |
| condos | 2 | 2 | 903 | $1,800 | — | — | |
| condos | 2 | 2 | 830 | $1,800 | 2024-04-25 | — | |
| condos | 2 | 2 | 822 | $1,750 | 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 |
|---|---|---|---|---|---|---|
| 2911 SE 13th Ave Unit 102-49 | condos | 2 | 2 | 822 | $175,000 | 2026-08-21 |
| 2524 SE 19th Pl Unit 204B | condos | 2 | 2 | 1,160 | $180,000 | 2026-07-29 |
| 2920 SE 13th Ave Unit 203-51 | condos | 2 | 2 | 815 | $166,000 | 2026-07-17 |
| 2314 SE 24th Ave Unit 2314 | condos | 2 | 3 | 1,370 | $235,000 | 2026-07-17 |
| 2731 SE 17th Ave Unit 207 | condos | 2 | 2 | 930 | $155,000 | 2026-06-22 |
| 2731 SE 17th Ave Unit 107 | condos | 2 | 2 | 914 | $182,500 | 2026-06-15 |
| 2721 SE 12th Pl Unit 102 | condos | 2 | 2 | 822 | $208,000 | 2026-05-28 |
| 2008 SE 26th Ln Unit 204 | condos | 2 | 2 | 1,160 | $180,000 | 2026-05-27 |
| 2512 SE 19th Pl Unit 206A | condos | 2 | 2 | 1,160 | $195,000 | 2026-04-30 |
| 1261 SE 31st Ct Unit 102 | condos | 2 | 2 | 822 | $164,000 | 2026-04-13 |
| 2921 SE 13th Ave Unit 202-48 | condos | 2 | 2 | 815 | $185,000 | 2026-04-07 |
| 2657 SE 19th Ct Unit 103E | condos | 2 | 2 | 1,070 | $180,000 | 2026-04-01 |
| 2311 SE 24th Ave Unit 2311 | condos | 2 | 3 | 1,370 | $225,000 | 2026-03-13 |
| 2629 SE 19th Ct Unit 103C | condos | 2 | 2 | 1,070 | $185,000 | 2026-02-12 |
| 1663 SE 27th Dr Unit 105 | condos | 2 | 2 | 914 | $185,000 | 2026-01-08 |
| 2647 SE 21st Ct Unit 104D | condos | 2 | 2 | 1,070 | $186,000 | 2025-12-30 |
| 2921 SE 13th Ave Unit 104-48 | condos | 2 | 2 | 822 | $164,000 | 2025-12-22 |
| 2621 SE 12th Rd Unit 204 | condos | 2 | 2 | 815 | $177,500 | 2025-12-05 |
| 2508 SE 19th Pl Unit 204A | condos | 2 | 2 | 1,160 | $199,000 | 2025-11-07 |
| 2911 SE 13th Ave Unit 205-49 | condos | 2 | 2 | 815 | $180,000 | 2025-10-31 |
| 2651 SE 12th Rd Unit 203 | condos | 2 | 2 | 815 | $177,500 | 2025-09-26 |
| 1271 SE 27th St Unit 204 | condos | 2 | 2 | 815 | $180,000 | 2025-09-26 |
| 2621 SE 12th Rd Unit 203 | condos | 2 | 2 | 815 | $177,500 | 2025-09-26 |
| 2212 SE 27th Dr Unit 201B | condos | 2 | 2 | 1,040 | $177,000 | 2025-09-22 |
| 2643 SE 19th Ct Unit 103D | condos | 2 | 2 | 1,070 | $180,000 | 2025-09-12 |
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 |
|---|---|---|---|---|---|---|
| 2931 SE 12th Rd Unit 205-55 | condos | 2 | 2 | 815 | $175,900 | — |
| 1260 SE 31st Ct Unit 105-34 | condos | 2 | 2 | 822 | $179,000 | — |
| 2604 SE 19th Ct Unit 202A | condos | 2 | 2 | 1,040 | $180,000 | — |
| 1617 SE 30th St | townhomes | 2 | 3 | 1,166 | $220,000 | — |
| 2910 SE 13th Rd Unit 105-44 | condos | 2 | 2 | 822 | $205,000 | — |
| 1512 SE 31st Ct Unit 1512 | townhomes | 2 | 3 | 1,166 | $275,000 | — |
| 1271 SE 28th Ct Unit 105 | condos | 2 | 2 | 822 | $199,900 | — |
| 1260 SE 28th Ct Unit 104 | condos | 2 | 2 | 822 | $195,000 | — |
10-year hold projection
IRR5.1%
Equity multiple1.81x
Total return (10yr)$66,404
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $204,970 | $9,279 | -$4,078 | $157,474 | $47,496 |
| 2 | $211,119 | $9,610 | -$3,773 | $155,629 | $55,490 |
| 3 | $217,453 | $9,953 | -$3,458 | $153,658 | $63,795 |
| 4 | $223,976 | $10,307 | -$3,133 | $151,551 | $72,425 |
| 5 | $230,696 | $10,673 | -$2,795 | $149,300 | $81,395 |
| 6 | $237,616 | $11,052 | -$2,447 | $146,894 | $90,722 |
| 7 | $244,745 | $11,444 | -$2,086 | $144,323 | $100,422 |
| 8 | $252,087 | $11,848 | -$1,712 | $141,576 | $110,512 |
| 9 | $259,650 | $12,267 | -$1,326 | $138,639 | $121,011 |
| 10 | $267,439 | $12,699 | -$926 | $135,501 | $131,938 |
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.