16450 NW 2nd Ave Apt 404
Miami, FL 33169 · condos · For Sale · 398 days on market
Asking price$135,000
0 beds 1 baths 385 sqft
Suggested offer$54,542$80,458 above the est. market value of $54,542.
View on Realtor.com →Listed by Fernanda Ibarra · Direct Realty Solutions
Typecondos
Built1970
Price / sqft$351
Est. value (own analysis)$54,542
Rent estimate (own analysis)$1,190/mo
HOA$364/mo
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Statusfor_sale
Listed date2025-07-31
Removed date—
MLSMiamiMLS #A11848467
Coordinates25.92577, -80.20505
Address16450 NW 2nd Ave Apt 404
CityMiami
StateFL
Zip33169
Listing ID5177565160
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33169)
Typical home value (ZHVI)$471,445
Typical rent (ZORI)$2,193/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 | $135,000 |
| Down payment (20.0%) | $27,000 |
| Loan amount | $108,000 |
| Closing costs (5.0%) | $6,750 |
| Total cash to close | $33,750 |
| Income | |
| Rent (comp-derived) | $1,190$14,280 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,095$13,138 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $214$2,565 |
| Insurance (placeholder 0.8% of price) | $90$1,080 |
| HOA dues | $364$4,368 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $60$714 |
| Total operating expenses | $727$8,727 |
| 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) | $60$714 |
| 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 | 0 | 1 | 385 | $1,250 | 2026-02-02 | — | |
| condos | 0 | — | 440 | $1,000 | 2026-06-12 | — | |
| condos | 0 | 1 | 440 | $1,000 | 2026-05-26 | — | |
| condos | 0 | 1 | 440 | $1,150 | 2026-08-10 | — | |
| condos | 0 | 1 | 440 | $1,150 | 2026-06-11 | — | |
| condos | 0 | 1 | 440 | $1,190 | 2026-03-16 | — | |
| condos | 0 | 1 | 440 | $1,250 | 2026-05-17 | — | |
| apartment | 0 | 1 | 440 | $1,300 | 2026-04-23 | — | |
| condos | 0 | — | 440 | $1,250 | 2026-07-27 | — | |
| condos | 0 | 1 | 440 | $1,500 | 2026-08-26 | — | |
| apartment | 0 | 1 | 400 | $1,000 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 430 NW 214th St Apt 103 | condos | 2 | 2 | 1,180 | $213,000 | 2026-08-26 |
| 505 NW 177th St Apt 136 | condos | 1 | 1 | 730 | $140,000 | 2026-08-11 |
| 496 NW 165th St Rd Apt D214 | condos | 1 | 1 | 826 | $99,999 | 2026-08-08 |
| 500 NW 214th St Apt 103 | condos | 2 | 2 | 1,122 | $155,000 | 2026-07-17 |
| 21217 NW 14th Pl Unit 2-22 | condos | 3 | 3 | 1,419 | $310,000 | 2026-07-16 |
| 465 NW 210th St Apt 103 | condos | 2 | 2 | 816 | $132,500 | 2026-06-09 |
| 492 NW 165th St Rd Apt C314 | condos | 1 | 1 | 826 | $105,000 | 2026-05-29 |
| 505 NW 177th St Apt 139 | condos | 1 | 1 | 730 | $130,000 | 2026-05-15 |
| 440 NW 214th St Apt 104 | condos | 2 | 2 | 1,180 | $210,000 | 2026-04-27 |
| 5366925887 | condos | 1 | 1 | 576 | $84,500 | 2026-04-17 |
| 17339 NW 7th Ave Unit 505 | condos | 2 | 3 | 1,140 | $297,999 | 2026-04-17 |
| 550 NW 214th St Apt 201 | condos | 3 | 2 | 1,288 | $242,000 | 2026-02-20 |
| 496 NW 165th St Rd Apt D211 | condos | 1 | 1 | 826 | $115,000 | 2026-02-04 |
| 484 NW 165th St Rd Apt A516 | condos | 2 | 2 | 1,036 | $137,714 | 2026-02-04 |
| 15600 NW 7th Ave Apt 708 | condos | 2 | 2 | 1,087 | $155,000 | 2026-02-02 |
| 484 NW 165th St Rd Apt A214 | condos | 1 | 1 | 826 | $115,000 | 2026-02-01 |
| 15600 NW 7th Ave Apt 301 | condos | 1 | 1 | 840 | $119,000 | 2026-01-13 |
| 15600 NW 7th Ave Apt 515 | condos | 1 | 1 | 840 | $110,000 | 2026-01-12 |
| 486 NW 165th St Rd Apt B506 | condos | 2 | 2 | 1,175 | $130,000 | 2026-01-09 |
| 15600 NW 7th Ave Apt 618 | condos | 1 | 1 | 840 | $94,000 | 2025-12-18 |
| 50 NW 204th St Apt 24 | condos | 1 | 1 | 576 | $105,000 | 2025-11-26 |
| 498 NW 165th St Rd Apt D601 | condos | 2 | 2 | 1,036 | $107,000 | 2025-11-19 |
| 17349 NW 7th Ave Unit 1006 | condos | 2 | 3 | 1,140 | $285,000 | 2025-11-12 |
| 17341 NW 7th Ave Unit 603 | condos | 2 | 3 | 1,140 | $284,000 | 2025-11-07 |
| 492 NW 165th St Rd Apt C309 | condos | 2 | 2 | 1,175 | $93,000 | 2025-11-06 |
| 301 NW 177th St Apt 104 | condos | 1 | 1 | 730 | $130,000 | 2025-11-06 |
| 488 NW 165th Street Rd Unit 309B | condos | 2 | 2 | 1,175 | $130,000 | 2025-11-03 |
| 486 NW 165th St Rd Apt B306 | condos | 2 | 2 | 1,175 | $155,000 | 2025-10-31 |
| 15600 NW 7th Ave Apt 311 | condos | 1 | 1 | 840 | $112,000 | 2025-09-11 |
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 |
|---|---|---|---|---|---|---|
| 16450 NW 2nd Ave Apt 206 | condos | 0 | 1 | 385 | $135,000 | — |
| 291 NW 177th St Unit C107 | condos | 0 | 1 | 440 | $110,000 | — |
| 271 NW 177th St Unit B104 | condos | 0 | 1 | 450 | $127,000 | — |
| 271 NW 177th St Unit B216 | condos | 0 | 1 | 450 | $135,000 | — |
10-year hold projection
IRR1.2%
Equity multiple1.19x
Total return (10yr)$24,058
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $139,050 | $4,411 | -$4,632 | $106,829 | $32,221 |
| 2 | $143,222 | $4,587 | -$4,474 | $105,578 | $37,644 |
| 3 | $147,518 | $4,769 | -$4,310 | $104,240 | $43,278 |
| 4 | $151,944 | $4,958 | -$4,140 | $102,811 | $49,133 |
| 5 | $156,502 | $5,154 | -$3,963 | $101,284 | $55,218 |
| 6 | $161,197 | $5,356 | -$3,780 | $99,652 | $61,546 |
| 7 | $166,033 | $5,566 | -$3,590 | $97,907 | $68,126 |
| 8 | $171,014 | $5,784 | -$3,393 | $96,043 | $74,971 |
| 9 | $176,144 | $6,009 | -$3,189 | $94,051 | $82,093 |
| 10 | $181,429 | $6,243 | -$2,977 | $91,922 | $89,506 |
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.