351 NW 32nd Pl
Miami, FL 33125 · multi_family · For Sale · 28 days on market
Asking price$699,900
2 beds 1 baths 1,595 sqft
Suggested offer$378,929$320,971 above the est. market value of $378,929.
View on Realtor.com →Listed by Jacqueline Baralt · Diversified Realty ExchangeLLC
Typemulti_family
Built1992
Price / sqft$439
Est. value (own analysis)$378,929
Rent estimate (building total, own analysis)$4,562/mo
HOANone
1 / 2
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Statusfor_sale
Listed date2026-08-05
Removed date—
MLSMiamiMLS #A12066123
Coordinates25.77615, -80.24892
Address351 NW 32nd Pl
CityMiami
StateFL
Zip33125
Listing ID5227537351
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33125)
Typical home value (ZHVI)$466,681
Typical rent (ZORI)$2,360/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 | $699,900 |
| Down payment (20.0%) | $139,980 |
| Loan amount | $559,920 |
| Closing costs (5.0%) | $34,995 |
| Total cash to close | $174,975 |
| Income | |
| Rent (estimate) | $4,562$54,740 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,197$50,361 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,108$13,298 |
| Insurance (placeholder 0.8% of price) | $467$5,599 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $228$2,737 |
| Total operating expenses | $1,803$21,634 |
| 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) | $228$2,737 |
| 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 |
|---|---|---|---|---|---|---|---|
| multi_family | 2 | 1 | — | $2,300 | — | — | |
| multi_family | 2 | 3 | 950 | $2,800 | — | — |
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 |
|---|---|---|---|---|---|---|
| 601 NW 23rd Ct | multi_family | 2 | 2 | 1,294 | $500,000 | 2026-03-10 |
| 2402 NW 11th St | multi_family | 2 | 2 | 1,141 | $226,300 | 2025-11-21 |
| 823 NW 22nd Ct | multi_family | 2 | 2 | 1,368 | $325,000 | 2025-09-22 |
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 |
|---|---|---|---|---|---|---|
| 1871 NW S River Dr Unit A03 | condos | 2 | 2 | 1,026 | $340,000 | — |
| 1236 NW 5th St | single_family | 2 | 1 | 930 | $1,050,000 | — |
| 1861 NW S River Dr Unit 1003 | condos | 2 | 2 | 935 | $368,000 | — |
| 3151 NW Flagler Ter | single_family | 2 | 1 | 1,122 | $625,000 | — |
| 3640 NW 9th St Apt 201 | condos | 2 | 1 | 748 | $260,000 | — |
| 1800 NW 19th St Apt 2 | condos | 2 | 1 | 650 | $199,999 | — |
| single_family | 2 | 1 | 828 | $525,000 | — | |
| 1861 NW S River Dr Unit 1404 | condos | 2 | 2 | 948 | $399,999 | — |
10-year hold projection
IRR3.7%
Equity multiple1.60x
Total return (10yr)$196,569
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $720,897 | $28,727 | -$17,189 | $553,849 | $167,048 |
| 2 | $742,524 | $29,697 | -$16,287 | $547,361 | $195,162 |
| 3 | $764,800 | $30,699 | -$15,355 | $540,428 | $224,371 |
| 4 | $787,744 | $31,733 | -$14,393 | $533,019 | $254,725 |
| 5 | $811,376 | $32,802 | -$13,398 | $525,101 | $286,275 |
| 6 | $835,717 | $33,905 | -$12,370 | $516,639 | $319,078 |
| 7 | $860,789 | $35,045 | -$11,308 | $507,596 | $353,193 |
| 8 | $886,612 | $36,221 | -$10,210 | $497,932 | $388,680 |
| 9 | $913,211 | $37,437 | -$9,076 | $487,604 | $425,606 |
| 10 | $940,607 | $38,692 | -$7,905 | $476,568 | $464,040 |
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.