8407 SW 208th Ter
Cutler Bay, FL 33189 · townhomes · For Sale · 7 days on market
Asking price$430,000
3 beds 3 baths 1,731 sqft
Listed by Elsa M Puga · London Foster Realty
Typetownhomes
Built1987
Price / sqft$248
Est. value (Zillow ZIP avg)$554,285
Rent estimate (own analysis)$2,800/mo
HOA$72/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-26
Removed date—
MLSMiamiMLS #A12077015
Coordinates25.57399, -80.32576
Address8407 SW 208th Ter
CityCutler Bay
StateFL
Zip33189
Listing ID5391453175
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 | $430,000 |
| Down payment (20.0%) | $86,000 |
| Loan amount | $344,000 |
| Closing costs (5.0%) | $21,500 |
| Total cash to close | $107,500 |
| Income | |
| Rent (comp-derived) | $2,800$33,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,576$30,912 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $681$8,170 |
| Insurance (est. scaled by flood & wind risk) | $631$7,568 |
| HOA dues | $72$864 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $140$1,680 |
| Total operating expenses | $1,524$18,282 |
| 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) | $140$1,680 |
| 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 | 3 | 3 | 1,295 | $2,850 | 2026-08-28 | — | |
| townhomes | 3 | 2 | 1,240 | $2,000 | 2026-06-07 | — | |
| townhomes | 3 | 2 | 1,229 | $2,295 | 2026-08-20 | — | |
| townhomes | 3 | 2 | 1,504 | $2,800 | 2026-08-22 | — | |
| townhomes | 3 | 2 | 1,504 | $2,600 | 2026-08-06 | — | |
| townhomes | 3 | 3 | 1,295 | $2,650 | 2026-06-29 | — | |
| townhomes | 3 | 3 | 1,731 | $2,800 | 2026-06-12 | — | |
| townhomes | 3 | 2 | 1,225 | $2,800 | 2026-07-16 | — | |
| townhomes | 3 | 3 | 1,510 | $3,000 | 2026-06-23 | — |
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 |
|---|---|---|---|---|---|---|
| 9280 Nautilus Dr | single_family | 3 | 2 | 1,373 | $395,000 | — |
| 9354 Caribbean Blvd | single_family | 3 | 2 | 1,476 | $559,000 | — |
| 8549 SW 214th Ln | townhomes | 3 | 3 | 1,504 | $415,000 | — |
| 10235 Pan American Dr | single_family | 3 | 2 | 1,296 | $499,000 | — |
| 10330 Puerto Rico Dr | single_family | 3 | 2 | 1,852 | $519,000 | — |
| 21040 SW 85th Pass | single_family | 3 | 2 | 1,193 | $599,900 | — |
| 21421 SW 110th Ave | single_family | 3 | 2 | 1,066 | $480,000 | — |
| 20001 Ranch Rd | single_family | 3 | 2 | 1,778 | $710,000 | — |
10-year hold projection
IRR0.5%
Equity multiple1.08x
Total return (10yr)$64,547
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $442,900 | $12,630 | -$15,578 | $340,270 | $102,630 |
| 2 | $456,187 | $13,100 | -$15,149 | $336,284 | $119,903 |
| 3 | $469,873 | $13,587 | -$14,706 | $332,025 | $137,848 |
| 4 | $483,969 | $14,091 | -$14,246 | $327,473 | $156,496 |
| 5 | $498,488 | $14,612 | -$13,770 | $322,608 | $175,880 |
| 6 | $513,442 | $15,151 | -$13,277 | $317,409 | $196,033 |
| 7 | $528,846 | $15,709 | -$12,767 | $311,853 | $216,992 |
| 8 | $544,711 | $16,286 | -$12,238 | $305,916 | $238,795 |
| 9 | $561,052 | $16,884 | -$11,691 | $299,571 | $261,482 |
| 10 | $577,884 | $17,501 | -$11,124 | $292,790 | $285,094 |
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.