49 Palm Ave
Miami Beach, FL 33139 · single_family · For Sale · 639 days on market
Asking price$35,900,000
8 beds 10 baths 11,307 sqft
Suggested offer$25,062,179$10,837,821 above the est. market value of $25,062,179.
View on Realtor.com →Listed by Eddy Martinez · One Sotheby's International Realty
Typesingle_family
Built1926
Price / sqft$3175
Est. value (own analysis)$25,062,179
Rent estimate (Zillow ZIP avg)$2,928/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2024-12-03
Removed date—
MLSMiamiMLS #A11702121
Coordinates25.77874, -80.15817
Address49 Palm Ave
CityMiami Beach
StateFL
Zip33139
Listing ID5128085313
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $35,900,000 |
| Down payment (20.0%) | $7,180,000 |
| Loan amount | $28,720,000 |
| Closing costs (5.0%) | $1,795,000 |
| Total cash to close | $8,975,000 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,928$35,142 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,694$32,330 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $56,842$682,100 |
| Insurance (est. scaled by flood & wind risk) | $52,653$631,840 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $146$1,757 |
| Total operating expenses | $109,641$1,315,697 |
| 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) | $146$1,757 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 8 | 10 | 7,210 | $100,000 | 2025-10-23 | — | |
| single_family | 8 | 7 | 7,210 | $100,000 | — | — |
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 270 S Hibiscus Dr | single_family | 7 | 8 | 10,500 | $51,500,000 | 2026-08-24 |
| 330 E San Marino Dr | single_family | 4 | 3 | 2,087 | $3,590,000 | 2026-08-24 |
| 830 E Dilido Dr | single_family | 3 | 2 | 2,005 | $2,286,415 | 2026-08-21 |
| 1729 Lenox Ave | single_family | 3 | 2 | 2,170 | $2,650,000 | 2026-08-19 |
| 508 W Dilido Dr | single_family | 4 | 4 | 5,501 | $22,750,000 | 2026-08-12 |
| 93 Palm Ave | single_family | 0 | — | — | $21,000,000 | 2026-08-12 |
| 1511 NE 13th Pl | single_family | 2 | 2 | 1,835 | $6,500,000 | 2026-08-06 |
| 1505 1511 Ne 13th Pl | single_family | 6 | 4 | — | $6,500,000 | 2026-07-28 |
| 1338 N Venetian Way | single_family | 4 | 4 | 2,456 | $3,180,000 | 2026-07-24 |
| 1776 Michigan Ave | single_family | 4 | 5 | 2,830 | $2,660,000 | 2026-07-20 |
| 288 S Coconut Ln | single_family | 9 | 8 | 9,094 | $18,518,000 | 2026-07-20 |
| 625 E Dilido Dr | single_family | 6 | 6 | 4,967 | $33,000,000 | 2026-07-14 |
| 617 E Dilido Dr | single_family | 4 | 5 | 4,393 | $33,000,000 | 2026-07-14 |
| 1 Star Island Dr | single_family | 7 | 5 | 6,684 | $55,000,000 | 2026-07-13 |
| 149 Palm Ave | single_family | — | 0 | 216 | $15,000,000 | 2026-07-08 |
| 145 Palm Ave | single_family | 5 | 6 | 11,639 | $40,000,000 | 2026-07-01 |
| 1045 N Venetian Dr | single_family | 6 | 8 | 6,347 | $18,200,000 | 2026-06-26 |
| 1335 Lenox Ave | single_family | 5 | 3 | 2,363 | $2,375,000 | 2026-06-22 |
| 244 W San Marino Dr | single_family | 3 | 3 | 2,732 | $11,926,300 | 2026-06-16 |
| 1443 Lenox Ave | single_family | 3 | 2 | 1,592 | $2,385,000 | 2026-06-12 |
| 1800 Jefferson Ave | single_family | 4 | 4 | 3,462 | $3,100,000 | 2026-06-10 |
| 16 Palm Ave | single_family | 6 | 7 | 9,209 | $25,000,000 | 2026-06-05 |
| 444 W Rivo Alto Dr | single_family | 5 | 5 | 4,837 | $16,500,000 | 2026-06-03 |
| 94 S Hibiscus Dr | single_family | 4 | 6 | 4,866 | $18,500,000 | 2026-05-29 |
| 821 E Dilido Dr | single_family | 4 | 4 | 4,420 | $15,500,000 | 2026-05-26 |
| 302 W San Marino Dr | single_family | 3 | 3 | 3,178 | $11,300,000 | 2026-05-26 |
| 850 E Dilido Dr | single_family | 4 | 3 | 2,862 | $4,850,000 | 2026-05-15 |
| 330 W Rivo Alto Dr | single_family | 2 | 3 | 2,005 | $9,071,000 | 2026-05-15 |
| 600 W Dilido Dr | single_family | 5 | 5 | 2,669 | $11,000,000 | 2026-05-14 |
| 100 E Dilido Dr | single_family | 4 | 5 | 3,886 | $4,750,000 | 2026-05-14 |
| 291 Palm Ave | single_family | 4 | 5 | 3,077 | $5,450,000 | 2026-05-13 |
| 431 W Rivo Alto Dr | single_family | 5 | 5 | 4,352 | $5,600,000 | 2026-05-11 |
| 2145 Meridian Ave | single_family | 4 | 6 | 4,300 | $9,380,000 | 2026-05-07 |
| 845 E Dilido Dr | single_family | 5 | 8 | 5,046 | $35,000,000 | 2026-05-07 |
| 1030 N Venetian Dr | single_family | 3 | 5 | 2,807 | $3,100,000 | 2026-05-05 |
| 1438 Jefferson Ave | single_family | 2 | 2 | 1,276 | $1,675,000 | 2026-04-30 |
| 254 Palm Ave | single_family | 4 | 4 | 4,218 | $7,450,000 | 2026-04-29 |
| 1315 Lenox Ave | single_family | 3 | 2 | 2,378 | $3,550,000 | 2026-04-29 |
| 310 W Dilido Dr | single_family | 6 | 6 | 5,506 | $21,750,000 | 2026-04-27 |
| 440 E Rivo Alto Dr | single_family | 3 | 2 | 3,522 | $6,500,000 | 2026-04-27 |
| 1244 Michigan Ave | single_family | 4 | 3 | 3,295 | $1,900,000 | 2026-04-24 |
| 1277 N Venetian Way | single_family | 5 | 7 | 5,659 | $14,000,000 | 2026-04-21 |
| 375 S Hibiscus Dr | single_family | 6 | 7 | 4,286 | $9,500,000 | 2026-04-16 |
| 1011 N Venetian Dr | single_family | 3 | 3 | 3,671 | $10,800,000 | 2026-04-14 |
| 114 3rd San Marino Ter | single_family | 4 | 4 | 3,019 | $5,200,000 | 2026-04-06 |
| 1417 N Venetian Way | single_family | 5 | 7 | 7,557 | $27,500,000 | 2026-04-03 |
| 66 S Hibiscus Dr | single_family | 6 | 5 | 5,645 | $12,250,000 | 2026-04-02 |
| 29 E San Marino Dr | single_family | 2 | 3 | 2,922 | $28,500,000 | 2026-03-24 |
| 1417 Lenox Ave | single_family | 4 | 3 | 2,899 | $2,100,000 | 2026-03-23 |
| 1096 N Venetian Dr | single_family | 4 | 5 | — | $5,620,000 | 2026-03-20 |
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 |
|---|---|---|---|---|---|---|
| 632 15th St | multi_family | 8 | 8 | 5,939 | $2,650,000 | — |
| 33 E Dilido Dr | single_family | 8 | 8 | 10,439 | $35,000,000 | — |
| 711 Lenox Ave | multi_family | 8 | 8 | 2,558 | $2,850,000 | — |
10-year hold projection
IRR-15.7%
Equity multiple-1.74x
Total return (10yr)-$19,914,834
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $36,977,000 | -$1,283,367 | -$3,499,873 | $28,408,611 | $8,568,389 |
| 2 | $38,086,310 | -$1,315,289 | -$3,531,840 | $28,075,840 | $10,010,471 |
| 3 | $39,228,899 | -$1,348,005 | -$3,564,600 | $27,720,216 | $11,508,684 |
| 4 | $40,405,766 | -$1,381,534 | -$3,598,175 | $27,340,171 | $13,065,595 |
| 5 | $41,617,939 | -$1,415,895 | -$3,632,584 | $26,934,028 | $14,683,911 |
| 6 | $42,866,477 | -$1,451,111 | -$3,667,848 | $26,499,995 | $16,366,482 |
| 7 | $44,152,472 | -$1,487,201 | -$3,703,988 | $26,036,156 | $18,116,315 |
| 8 | $45,477,046 | -$1,524,188 | -$3,741,026 | $25,540,465 | $19,936,581 |
| 9 | $46,841,357 | -$1,562,094 | -$3,778,984 | $25,010,735 | $21,830,622 |
| 10 | $48,246,598 | -$1,600,942 | -$3,817,885 | $24,444,627 | $23,801,971 |
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.