1036 NE 89th St
Miami, FL 33138 · single_family · For Sale · 134 days on market
Asking price$8,000,000
7 beds 6 baths 3,268 sqft
Suggested offer$2,299,920$5,700,080 above the est. market value of $2,299,920.
View on Realtor.com →Listed by Kelly Lyles · Kelly Lyles International Realty, Llc
Typesingle_family
Built1925
Price / sqft$2448
Est. value (own analysis)$2,299,920
Rent estimate (own analysis)$19,750/mo
HOANone
1 / 31
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Statusfor_sale
Listed date2026-04-21
Removed date—
MLSMiamiMLS #A12004462
Coordinates25.85703, -80.17601
Address1036 NE 89th St
CityMiami
StateFL
Zip33138
Listing ID5209133174
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33138)
Typical home value (ZHVI)$806,988
Typical rent (ZORI)$2,367/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 | $8,000,000 |
| Down payment (20.0%) | $1,600,000 |
| Loan amount | $6,400,000 |
| Closing costs (5.0%) | $400,000 |
| Total cash to close | $2,000,000 |
| Income | |
| Rent (comp-derived) | $19,750$237,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $18,170$218,040 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $12,667$152,000 |
| Insurance (placeholder 0.8% of price) | $5,333$64,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $988$11,850 |
| Total operating expenses | $18,988$227,850 |
| 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) | $988$11,850 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| single_family | 7 | 5 | 2,670 | $8,000 | 2026-07-14 | — | |
| single_family | 7 | 3 | 2,986 | $8,000 | 2026-08-25 | — | |
| single_family | 7 | 7 | 3,973 | $31,500 | — | — | |
| single_family | 7 | 7 | 3,973 | $31,500 | — | — |
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 |
|---|---|---|---|---|---|---|
| 1001 NE 86th St | single_family | 3 | 3 | 2,216 | $1,640,000 | 2026-09-01 |
| 101 NE 63rd St | single_family | 3 | 1 | 1,128 | $395,000 | 2026-08-31 |
| 870 NE 97th St | single_family | 3 | 3 | 1,479 | $1,015,000 | 2026-08-31 |
| 1450 NE 102nd St | single_family | 3 | 3 | 2,534 | $1,750,000 | 2026-08-31 |
| 790 NE 96th St | single_family | 3 | 4 | 1,419 | $1,250,000 | 2026-08-31 |
| 10570 NE 3rd Ave | single_family | 3 | 3 | 2,400 | $1,520,000 | 2026-08-28 |
| 601 NE 105th St | single_family | 3 | 2 | 2,730 | $950,000 | 2026-08-26 |
| 500 NE 95th St | single_family | 2 | 1 | 1,462 | $800,000 | 2026-08-25 |
| 830 NE 83rd St | single_family | 3 | 2 | 1,494 | $930,000 | 2026-08-25 |
| 475 NE 91st St | single_family | 3 | 2 | 1,920 | $1,230,000 | 2026-08-21 |
| 9805 NE 4th Avenue Rd | single_family | 3 | 2 | 1,217 | $1,025,000 | 2026-08-21 |
| 9301 N Bayshore Dr | single_family | 4 | 5 | 4,225 | $8,000,000 | 2026-08-18 |
| 1140 NE 87th St | single_family | 3 | 3 | 2,123 | $2,400,000 | 2026-08-14 |
| 1031 NE 72nd St | single_family | 3 | 2 | 2,149 | $2,250,000 | 2026-08-13 |
| 436 NE 88th St | single_family | 5 | 2 | 2,324 | $2,050,000 | 2026-08-12 |
| 6329 NE 1st Ave | single_family | 2 | 1 | 827 | $210,000 | 2026-08-12 |
| 1106 NE 86th St | single_family | 3 | 2 | 2,072 | $1,200,000 | 2026-08-11 |
| 360 NE 91st St | single_family | 3 | 3 | 2,042 | $1,900,000 | 2026-08-10 |
| 454 NE 76th St | single_family | 3 | 2 | 970 | $821,000 | 2026-08-10 |
| 10610 NE 11th Ave | single_family | 2 | 2 | 1,965 | $1,485,000 | 2026-08-10 |
| 666 NE 62nd St | single_family | 2 | 2 | 1,210 | $900,000 | 2026-08-07 |
| 619 NE 87th St | single_family | 3 | 2 | 1,489 | $667,000 | 2026-08-07 |
| 1130 NE 104th St | single_family | 3 | 2 | 2,046 | $1,350,000 | 2026-08-05 |
| 453 NE 89th St | single_family | 3 | 2 | 1,690 | $1,350,000 | 2026-08-04 |
| 8250 NE 3rd Ct | single_family | 3 | 3 | 1,647 | $1,035,000 | 2026-08-03 |
| 434 NE 77th St | single_family | 3 | 2 | 1,346 | $965,000 | 2026-08-03 |
| 390 NE 103rd St | single_family | 5 | 4 | 2,770 | $1,690,000 | 2026-07-31 |
| 124 NE 96th St | single_family | 3 | 2 | 4,086 | $2,625,000 | 2026-07-28 |
| 273 NE 98th St | single_family | 3 | 4 | 2,515 | $2,550,000 | 2026-07-24 |
| 1234 NE 96th St | single_family | 5 | 6 | 5,812 | $3,125,000 | 2026-07-24 |
| 880 NE 72nd Ter | single_family | 3 | 3 | 1,716 | $1,475,000 | 2026-07-23 |
| 861 NE 74th St | single_family | 2 | 1 | 1,221 | $1,500,000 | 2026-07-23 |
| 1090 NE 92nd St | single_family | 4 | 2 | 3,227 | $2,435,000 | 2026-07-22 |
| 8250 NE 4th Ave | single_family | 2 | 2 | 1,376 | $500,000 | 2026-07-20 |
| 6322 NE 5th Ave | single_family | 4 | 2 | 2,161 | $840,000 | 2026-07-17 |
| 1110 NE 100th St | single_family | 4 | 3 | 2,191 | $1,680,000 | 2026-07-15 |
| 9105 NE 5th Ave | single_family | 3 | 2 | 1,894 | $2,300,000 | 2026-07-14 |
| 597 NE 93rd St | single_family | 3 | 2 | 2,798 | $2,500,000 | 2026-07-10 |
| 115 NE 88th St | single_family | 3 | 2 | 2,257 | $1,245,000 | 2026-07-10 |
| 9880 NE 9th Ave | single_family | 3 | 3 | 1,574 | $1,075,000 | 2026-07-09 |
| 8910 NE 9th Ct | single_family | 3 | 2 | 1,434 | $1,110,000 | 2026-07-08 |
| 860 NE 73rd St | single_family | 3 | 2 | 1,808 | $1,450,000 | 2026-07-08 |
| 9999 NE 12th Ave | single_family | 3 | 2 | 2,905 | $1,651,000 | 2026-07-07 |
| 485 NE 96th St | single_family | 3 | 3 | 2,866 | $1,640,000 | 2026-07-07 |
| 10643 NE 11th Ave | single_family | 3 | 2 | 1,739 | $1,025,000 | 2026-07-06 |
| 8730 NE 8th Ct | single_family | 2 | 1 | 930 | $725,000 | 2026-07-02 |
| 9357 NE 9th Pl | single_family | 2 | 2 | 1,324 | $1,640,000 | 2026-07-01 |
| 745 NE 88th St | single_family | 3 | 2 | 1,721 | $800,000 | 2026-06-26 |
| 1080 NE 86th St | single_family | 2 | 3 | 1,496 | $1,375,000 | 2026-06-26 |
| 866 NE 99th St | single_family | 3 | 3 | 1,907 | $1,150,000 | 2026-06-26 |
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 |
|---|---|---|---|---|---|---|
| 905 Belle Meade Island Dr | single_family | 7 | 9 | 8,600 | $29,000,000 | — |
| 8701 NE 8th Ct | multi_family | 7 | 3 | 2,664 | $1,175,000 | — |
| 8111 NE 1st Ave | multi_family | 7 | 3 | 2,176 | $599,000 | — |
| 1133 Belle Meade Island Dr | single_family | 7 | 6 | 7,435 | $22,899,800 | — |
| 1051 NE 89th St | single_family | 7 | 7 | 6,288 | $5,549,000 | — |
10-year hold projection
IRR-7.3%
Equity multiple-0.23x
Total return (10yr)-$1,417,181
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $8,240,000 | -$9,810 | -$515,197 | $6,330,610 | $1,909,390 |
| 2 | $8,487,200 | -$8,965 | -$514,649 | $6,256,455 | $2,230,745 |
| 3 | $8,741,816 | -$8,066 | -$514,054 | $6,177,207 | $2,564,609 |
| 4 | $9,004,070 | -$7,111 | -$513,410 | $6,092,517 | $2,911,553 |
| 5 | $9,274,193 | -$6,098 | -$512,715 | $6,002,012 | $3,272,181 |
| 6 | $9,552,418 | -$5,023 | -$511,968 | $5,905,292 | $3,647,127 |
| 7 | $9,838,991 | -$3,885 | -$511,165 | $5,801,929 | $4,037,062 |
| 8 | $10,134,161 | -$2,680 | -$510,304 | $5,691,469 | $4,442,692 |
| 9 | $10,438,185 | -$1,407 | -$509,382 | $5,573,423 | $4,864,762 |
| 10 | $10,751,331 | -$61 | -$508,397 | $5,447,271 | $5,304,060 |
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.