400 Alcazar Ave
Coral Gables, FL 33134 · multi_family · For Sale · 20 days on market
Asking price$1,390,000
4 beds 2 baths 2,124 sqft
Suggested offer$1,033,444$356,556 above the est. market value of $1,033,444.
View on Realtor.com →Listed by Jason Smith · Keller Williams Capital Realty
Typemulti_family
Built1937
Price / sqft$654
Est. value (own analysis)$1,033,444
Rent estimate (building total, own analysis)$8,079/mo
HOANone
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Statusfor_sale
Listed date2026-08-13
Removed date—
MLSMiamiMLS #A12066032
Coordinates25.75242, -80.26304
Address400 Alcazar Ave
CityCoral Gables
StateFL
Zip33134
Listing ID5309197793
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33134)
Typical home value (ZHVI)$887,965
Typical rent (ZORI)$3,095/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 | $1,390,000 |
| Down payment (20.0%) | $278,000 |
| Loan amount | $1,112,000 |
| Closing costs (5.0%) | $69,500 |
| Total cash to close | $347,500 |
| Income | |
| Rent (estimate) | $8,079$96,948 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,433$89,192 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $2,201$26,410 |
| Insurance (placeholder 0.8% of price) | $927$11,120 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $404$4,847 |
| Total operating expenses | $3,531$42,377 |
| 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) | $404$4,847 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 3731 SW 27th St | multi_family | 4 | 2 | 1,715 | $812,000 | 2026-04-21 |
| 1231 Columbus Blvd | multi_family | 4 | 1 | 2,366 | $1,600,000 | 2026-04-13 |
| 4100 SW 9th Ter | multi_family | 4 | 2 | 1,562 | $760,000 | 2025-09-09 |
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 |
|---|---|---|---|---|---|---|
| 4701 SW 7th St | single_family | 4 | 3 | 1,830 | $750,000 | — |
| 4870 SW 6th St | single_family | 4 | 3 | 1,682 | $700,000 | — |
| 3788 SW 27th Ln | multi_family | 4 | 2 | 1,980 | $1,250,000 | — |
| 5330 SW 7th St | single_family | 4 | 3 | 2,424 | $2,500,000 | — |
| 2893-2895 SW 37th Ct | multi_family | 4 | 3 | 1,935 | $915,000 | — |
| 4450 W Flagler St | multi_family | 4 | 4 | 2,103 | $1,000,000 | — |
| 4251 SW 11th St | single_family | 4 | 4 | 3,736 | $2,990,000 | — |
| 2841 SW 38th Ct Unit B | townhomes | 4 | 4 | 2,671 | $1,950,000 | — |
10-year hold projection
IRR1.7%
Equity multiple1.28x
Total return (10yr)$279,472
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,431,700 | $46,815 | -$43,785 | $1,099,943 | $331,757 |
| 2 | $1,474,651 | $48,431 | -$42,289 | $1,087,059 | $387,592 |
| 3 | $1,518,891 | $50,101 | -$40,744 | $1,073,290 | $445,601 |
| 4 | $1,564,457 | $51,827 | -$39,145 | $1,058,575 | $505,882 |
| 5 | $1,611,391 | $53,610 | -$37,493 | $1,042,850 | $568,541 |
| 6 | $1,659,733 | $55,452 | -$35,784 | $1,026,045 | $633,688 |
| 7 | $1,709,525 | $57,356 | -$34,018 | $1,008,085 | $701,439 |
| 8 | $1,760,810 | $59,322 | -$32,192 | $988,893 | $771,917 |
| 9 | $1,813,635 | $61,353 | -$30,305 | $968,382 | $845,252 |
| 10 | $1,868,044 | $63,452 | -$28,354 | $946,464 | $921,580 |
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.