28 NE 48th St
Miami, FL 33137 · single_family · For Sale · 110 days on market
Asking price$895,900
2 beds 2 baths 1,396 sqft
Suggested offer$866,600$29,300 above the est. market value of $866,600.
View on Realtor.com →Listed by NELSON R FERNANDEZ · Nelson Realty Services, Inc.
Typesingle_family
Built—
Price / sqft$642
Est. value (Realtor.com)$866,600
Rent estimate (own analysis)$4,700/mo
HOANone
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Statusfor_sale
Listed date2026-05-15
Removed date—
MLSMiamiMLS #A12020044
Coordinates25.81972, -80.19504
Address28 NE 48th St
CityMiami
StateFL
Zip33137
Listing ID5418222900
Sourcerealtor, cached 2026-08-21
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $895,900 |
| Down payment (20.0%) | $179,180 |
| Loan amount | $716,720 |
| Closing costs (5.0%) | $44,795 |
| Total cash to close | $223,975 |
| Income | |
| Rent (comp-derived) | $4,700$56,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,324$51,888 |
| Operating expenses | |
| Property tax (real MLS tax bill, from Realtor Search) | $403$4,838 |
| Insurance (placeholder 0.8% of price) | $597$7,167 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $235$2,820 |
| Total operating expenses | $1,235$14,825 |
| 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) | $235$2,820 |
| 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 | 2 | 2 | 1,296 | $4,300 | 2026-08-03 | — | |
| single_family | 2 | 2 | 1,760 | $6,700 | 2025-04-15 | — | |
| single_family | 2 | 2 | 1,790 | $6,700 | — | — | |
| single_family | 2 | 1 | 1,800 | $2,950 | — | — | |
| single_family | 2 | 3 | 1,300 | $3,400 | — | — | |
| single_family | 2 | 2 | 1,628 | $4,700 | — | — | |
| single_family | 2 | 2 | 1,262 | $5,200 | — | — |
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 |
|---|---|---|---|---|---|---|
| 28 NE 48th St | single_family | 2 | 2 | 1,396 | $878,000 | 2026-08-21 |
| 221 NE 48th Ter | single_family | 2 | 1 | 1,146 | $875,000 | 2026-08-10 |
| 259 NE 57th St | single_family | 2 | 1 | 840 | $470,000 | 2026-07-29 |
| 670 NE 56th St | single_family | 2 | 2 | 1,547 | $1,500,000 | 2026-07-24 |
| 631 NE 26th Ter | single_family | 2 | 2 | 1,485 | $43,131,000 | 2026-06-16 |
| 320 NE 55th St | single_family | 2 | 1 | 1,926 | $585,000 | 2026-06-16 |
| 5965 NE 5th Ave | single_family | 2 | 2 | 2,422 | $2,000,000 | 2026-06-05 |
| 6025061508 | single_family | 2 | 1 | 1,426 | $915,000 | 2026-05-04 |
| 43 NE 43rd St | single_family | 2 | 1 | 1,440 | $1,075,000 | 2026-05-04 |
| 550 Pidgeon Plum Ln | single_family | 2 | 2 | 2,540 | $4,225,000 | 2025-11-04 |
| 621 NE 55th St | single_family | 2 | 2 | 2,421 | $3,875,000 | 2025-10-06 |
| 201 NE 43rd St | single_family | 2 | 2 | 1,692 | $1,630,000 | 2025-09-24 |
| 40 NE 49th St | single_family | 2 | 1 | 1,194 | $852,000 | 2025-09-11 |
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 |
|---|---|---|---|---|---|---|
| 601 NE 36th St Apt 2707 | condos | 2 | 3 | 1,158 | $575,000 | — |
| 600 NE 36th St Apt 706 | condos | 2 | 2 | 990 | $475,000 | — |
| 3470 E Coast Ave Apt H0302 | condos | 2 | 3 | 1,088 | $662,000 | — |
| 456 NE 29th St Unit 2403 | condos | 2 | 3 | 1,472 | $1,605,000 | — |
| 456 NE 29th St Unit 1505 | condos | 2 | 2 | 1,231 | $1,285,000 | — |
| 501 NE 31st St Unit 608 | condos | 2 | 2 | 1,084 | $647,900 | — |
| 460 NE 28th St Apt 601 | condos | 2 | 2 | 1,311 | $925,000 | — |
| 725 NE 22nd St Ph 2A | condos | 2 | 2 | 1,400 | $1,150,000 | — |
10-year hold projection
IRR4.0%
Equity multiple1.64x
Total return (10yr)$259,260
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $922,777 | $37,063 | -$21,027 | $708,949 | $213,828 |
| 2 | $950,460 | $38,249 | -$19,912 | $700,645 | $249,816 |
| 3 | $978,974 | $39,472 | -$18,761 | $691,770 | $287,204 |
| 4 | $1,008,343 | $40,734 | -$17,573 | $682,286 | $326,058 |
| 5 | $1,038,594 | $42,036 | -$16,347 | $672,150 | $366,444 |
| 6 | $1,069,751 | $43,379 | -$15,082 | $661,318 | $408,433 |
| 7 | $1,101,844 | $44,764 | -$13,776 | $649,743 | $452,101 |
| 8 | $1,134,899 | $46,193 | -$12,429 | $637,373 | $497,527 |
| 9 | $1,168,946 | $47,667 | -$11,039 | $624,153 | $544,793 |
| 10 | $1,204,015 | $49,187 | -$9,604 | $610,025 | $593,989 |
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.