8020 SW 198th St
Cutler Bay, FL 33189 · single_family · For Sale · 57 days on market
Asking price$849,000
5 beds 3 baths 2,800 sqft
Listed by Laura Derrick · Keller Williams Realty Miami Portfolio Collection
Typesingle_family
Built1976
Price / sqft$303
Est. value (own analysis)$930,020
Rent estimate (own analysis)$4,950/mo
HOA$54/mo
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Statusfor_sale
Listed date2026-07-07
Removed date—
MLSMiamiMLS #A12049494
Coordinates25.58287, -80.32233
Address8020 SW 198th St
CityCutler Bay
StateFL
Zip33189
Listing ID5383254667
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 | $849,000 |
| Down payment (20.0%) | $169,800 |
| Loan amount | $679,200 |
| Closing costs (5.0%) | $42,450 |
| Total cash to close | $212,250 |
| Income | |
| Rent (comp-derived) | $4,950$59,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,554$54,648 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,344$16,131 |
| Insurance (placeholder 0.8% of price) | $566$6,792 |
| HOA dues | $54$648 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $248$2,970 |
| Total operating expenses | $2,212$26,541 |
| 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) | $248$2,970 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 3 | 2,962 | $4,390 | 2026-07-08 | — | |
| single_family | 5 | 4 | — | $4,950 | 2026-04-21 | — | |
| single_family | 5 | 3 | 2,962 | $5,900 | 2026-08-06 | — |
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 |
|---|---|---|---|---|---|---|
| 20020 Bel Aire Dr | single_family | 5 | 3 | 1,896 | $690,000 | 2026-08-13 |
| 20100 SW 111th Ave | single_family | 5 | 2 | 1,852 | $645,000 | 2026-05-08 |
| 21405 SW 97th Pl | single_family | 5 | 3 | 2,609 | $850,000 | 2026-04-28 |
| 9380 Caribbean Blvd | single_family | 5 | 2 | 1,972 | $655,000 | 2026-04-09 |
| 9915 SW 212th St | single_family | 5 | 2 | 1,376 | $635,000 | 2026-04-01 |
| 9640 SW 208th Ter | single_family | 5 | 4 | 2,136 | $766,000 | 2025-12-30 |
| 21059 SW 90th Pl | single_family | 5 | 3 | 2,547 | $750,000 | 2025-12-12 |
| 8560 Cutler Ct | single_family | 5 | 3 | 2,136 | $985,000 | 2025-12-03 |
| 8732 SW 204th Ln | single_family | 5 | 3 | 2,962 | $850,000 | 2025-11-21 |
| 10031 Jamaica Dr | single_family | 5 | 4 | 1,956 | $630,000 | 2025-09-30 |
| 9248 SW 209th Ter | single_family | 5 | 3 | 2,545 | $680,000 | 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 |
|---|---|---|---|---|---|---|
| 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 | — |
| 20901 SW 88th Ct | single_family | 5 | 3 | 2,501 | $799,000 | — |
| multi_family | 5 | 4 | 2,274 | $859,000 | — | |
| 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
IRR1.6%
Equity multiple1.26x
Total return (10yr)$165,182
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $874,470 | $28,107 | -$27,240 | $671,836 | $202,634 |
| 2 | $900,704 | $29,083 | -$26,338 | $663,966 | $236,738 |
| 3 | $927,725 | $30,091 | -$25,406 | $655,556 | $272,169 |
| 4 | $955,557 | $31,134 | -$24,441 | $646,569 | $308,988 |
| 5 | $984,224 | $32,211 | -$23,444 | $636,964 | $347,260 |
| 6 | $1,013,750 | $33,323 | -$22,414 | $626,699 | $387,051 |
| 7 | $1,044,163 | $34,473 | -$21,348 | $615,730 | $428,433 |
| 8 | $1,075,488 | $35,661 | -$20,246 | $604,007 | $471,480 |
| 9 | $1,107,752 | $36,889 | -$19,106 | $591,480 | $516,273 |
| 10 | $1,140,985 | $38,157 | -$17,929 | $578,092 | $562,893 |
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.