Cutler Bay, FL 33189 · multi_family · For Sale · 51 days on market
Asking price$859,000
5 beds 4 baths 2,274 sqft
Suggested offer$554,285$304,715 above the est. market value of $554,285.
View on Realtor.com →Listed by Maria Stefano · Stefano Realty, LLC.
Typemulti_family
Built1977
Price / sqft$378
Est. value (Zillow ZIP avg)$554,285
Rent estimate (building total, own analysis)$4,685/mo
HOANone
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Statusfor_sale
Listed date2026-07-14
Removed date—
MLSMiamiMLS #A12053139
Coordinates25.57676, -80.34205
Address
CityCutler Bay
StateFL
Zip33189
Listing ID5343715502
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33189)
Typical home value (ZHVI)$554,285
Typical rent (ZORI)$2,715/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 | $859,000 |
| Down payment (20.0%) | $171,800 |
| Loan amount | $687,200 |
| Closing costs (5.0%) | $42,950 |
| Total cash to close | $214,750 |
| Income | |
| Rent (estimate) | $4,685$56,214 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,310$51,717 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,360$16,321 |
| Insurance (placeholder 0.8% of price) | $573$6,872 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $234$2,811 |
| Total operating expenses | $2,167$26,004 |
| 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) | $234$2,811 |
| 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.
No recent recorded sales cached yet for this ZIP.
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 |
|---|---|---|---|---|---|---|
| 21320 Old Cutler Rd | single_family | 5 | 5 | — | $1,375,000 | — |
| 8956 SW 215th Ter | single_family | 5 | 3 | 2,061 | $599,000 | — |
| 10245 SW 212th St | single_family | 5 | 3 | 2,246 | $878,000 | — |
| 8020 SW 198th St | single_family | 5 | 3 | 2,800 | $849,000 | — |
| 20901 SW 88th Ct | single_family | 5 | 3 | 2,501 | $799,000 | — |
| 10040 SW 215th St | single_family | 5 | 3 | 1,612 | $685,000 | — |
| 9420 SW 212th Ter | single_family | 5 | 3 | 1,952 | $699,999 | — |
10-year hold projection
IRR0.7%
Equity multiple1.12x
Total return (10yr)$137,847
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $884,770 | $25,713 | -$30,091 | $679,749 | $205,021 |
| 2 | $911,313 | $26,615 | -$29,260 | $671,787 | $239,526 |
| 3 | $938,652 | $27,547 | -$28,400 | $663,278 | $275,375 |
| 4 | $966,812 | $28,510 | -$27,511 | $654,184 | $312,628 |
| 5 | $995,816 | $29,505 | -$26,591 | $644,466 | $351,350 |
| 6 | $1,025,691 | $30,533 | -$25,640 | $634,081 | $391,610 |
| 7 | $1,056,462 | $31,597 | -$24,657 | $622,982 | $433,479 |
| 8 | $1,088,156 | $32,695 | -$23,639 | $611,122 | $477,034 |
| 9 | $1,120,800 | $33,831 | -$22,587 | $598,447 | $522,354 |
| 10 | $1,154,424 | $35,004 | -$21,500 | $584,901 | $569,523 |
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.