5990 Paradise Point Dr
Palmetto Bay, FL 33157 · townhomes · For Sale · 10 days on market
Asking price$1,995,000
4 beds 3 baths 2,651 sqft
Suggested offer$1,019,974$975,026 above the est. market value of $1,019,974.
View on Realtor.com →Listed by Maggie Salas · Bestway Realty Sales, Llc
Typetownhomes
Built1985
Price / sqft$753
Est. value (Zillow, adjusted)$1,019,974
Rent estimate (own analysis)$9,800/mo
HOA$895/mo
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Statusfor_sale
Listed date2026-08-23
Removed date—
MLSMiamiMLS #A11972653
Coordinates25.62987, -80.29012
Address5990 Paradise Point Dr
CityPalmetto Bay
StateFL
Zip33157
Listing ID5217598932
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33157)
Typical home value (ZHVI)$630,585
Typical rent (ZORI)$2,736/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 | $1,995,000 |
| Down payment (20.0%) | $399,000 |
| Loan amount | $1,596,000 |
| Closing costs (5.0%) | $99,750 |
| Total cash to close | $498,750 |
| Income | |
| Rent (comp-derived) | $9,800$117,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $9,016$108,192 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,159$37,905 |
| Insurance (placeholder 0.8% of price) | $1,330$15,960 |
| HOA dues | $895$10,740 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $490$5,880 |
| Total operating expenses | $5,874$70,485 |
| 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) | $490$5,880 |
| 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 | 2,651 | $9,800 | 2026-08-23 | — | |
| townhomes | 4 | 4 | 2,091 | $4,560 | 2026-07-03 | — | |
| townhomes | 4 | 6 | 4,800 | $15,500 | 2026-05-20 | — |
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 |
|---|---|---|---|---|---|---|
| 15750 SW 92nd Ave Unit 20C | townhomes | 3 | 3 | 1,370 | $430,000 | 2026-07-07 |
| 8903 SW 184th Ter | townhomes | 4 | 2 | 1,921 | $575,000 | 2026-06-10 |
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 |
|---|---|---|---|---|---|---|
| 16111 SW 103rd Ct | single_family | 4 | 2 | 1,765 | $650,000 | — |
| 10235 SW 177th St | single_family | 4 | 3 | 1,896 | $611,900 | — |
| 16101 SW 98th Ave | single_family | 4 | 2 | 1,350 | $695,000 | — |
| 9940 SW 155th St | single_family | 4 | 2 | 1,627 | $710,000 | — |
| 19811 SW 116th Ave | single_family | 4 | 2 | — | $535,000 | — |
| 10360 SW 172nd St | single_family | 4 | 1 | 889 | $379,999 | — |
| 10210 SW 173rd St | single_family | 4 | 2 | 1,250 | $400,000 | — |
| 11271 SW 176th St | single_family | 4 | 3 | 1,909 | $665,000 | — |
10-year hold projection
IRR-2.2%
Equity multiple0.63x
Total return (10yr)$77,695
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,054,850 | $37,707 | -$91,249 | $1,578,696 | $476,154 |
| 2 | $2,116,496 | $39,191 | -$89,912 | $1,560,203 | $556,292 |
| 3 | $2,179,990 | $40,728 | -$88,526 | $1,540,441 | $639,550 |
| 4 | $2,245,390 | $42,320 | -$87,088 | $1,519,321 | $726,069 |
| 5 | $2,312,752 | $43,969 | -$85,598 | $1,496,751 | $816,000 |
| 6 | $2,382,134 | $45,677 | -$84,052 | $1,472,632 | $909,503 |
| 7 | $2,453,598 | $47,446 | -$82,449 | $1,446,856 | $1,006,743 |
| 8 | $2,527,206 | $49,278 | -$80,787 | $1,419,309 | $1,107,897 |
| 9 | $2,603,023 | $51,175 | -$79,065 | $1,389,872 | $1,213,151 |
| 10 | $2,681,113 | $53,140 | -$77,279 | $1,358,412 | $1,322,701 |
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.