22115 SW 115th Ave

Miami, FL 33170 · single_family · For Sale · 23 days on market
Asking price$479,900
3 beds 2 baths 1,233 sqft
Suggested offer$468,356$11,544 above the est. market value of $468,356.
View on Realtor.com →
Listed by Kristine Puente · Top Team Realty Llc
Typesingle_family
Built1952
Price / sqft$389
Est. value (own analysis)$468,356
Rent estimate (own analysis)$3,100/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood6/10major$Air2/10MinorWildfire1/10Minimal
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Neighborhood

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Statusfor_sale
Listed date2026-08-10
Removed date
MLSMiamiMLS #A12068312
Coordinates25.56141, -80.37770
Address22115 SW 115th Ave
CityMiami
StateFL
Zip33170
Listing ID5455960521
Sourceus-real-estate-listings, cached 2026-09-01

ZIP market snapshot (33170)

Typical home value (ZHVI)$572,990
Typical rent (ZORI)$2,406/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)

Purchase price$479,900
Down payment (20.0%)$95,980
Loan amount$383,920
Closing costs (5.0%)$23,995
Total cash to close$119,975
Rent (comp-derived)$3,100$37,200
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$37,200
Vacancy rate (assumption) assumption8.0%

$37,200 × 8.0% = $2,976

Effective gross income$2,852$34,224
Property tax (placeholder 1.9% of price)$760$9,118
Insurance (est. scaled by flood & wind risk)$560$6,719
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$155$1,860
Total operating expenses$1,475$17,697
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$34,224
Total operating expenses derived$17,697

$34,224 − $17,697 = $16,527

Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$383,920
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$383,920 amortized at 6.7% over 30 years = $2,467/mo

CapEx reserve (5.0% of GSR)$155$1,860
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$16,527
Annual debt service derived$29,606
Annual CapEx reserve assumption$1,860
Annual PMI assumption$0

($16,527 − $29,606 − $1,860 − $0) ÷ 12 = -$1,245

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$16,527
Purchase price data$479,900

$16,527 ÷ $479,900 = 3.4%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$14,939
Total cash to close derived$119,975

-$14,939 ÷ $119,975 = -12.5%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$16,527
Annual debt service derived$29,606

$16,527 ÷ $29,606 = 0.56

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$37,200
Purchase price data$479,900

($37,200 ÷ 12) ÷ $479,900 = 0.6%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$479,900
Gross scheduled rent (annual) comp$37,200

$479,900 ÷ $37,200 = 12.9

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$17,697
Effective gross income derived$34,224

$17,697 ÷ $34,224 = 51.7%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$17,697
Annual debt service derived$29,606
Annual PMI assumption$0
Gross scheduled rent (annual) comp$37,200

($17,697 + $29,606 + $0) ÷ $37,200 = 127.2%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family321,502$3,7002026-08-11
single_family321,233$2,9002026-08-10
single_family321,452$3,5002026-08-09
single_family321,513$3,6502026-05-19
single_family321,502$2,860
single_family321,300$3,1002026-08-21
single_family321,335$3,000

10752 SW 228th Ter Unit 10752

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,502
Listed2026-08-11
Days on market

Asking rent: $3,700

View on Zillow →

22115 SW 115th Ave Unit 0

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,233
Listed2026-08-10
Days on market

Asking rent: $2,900

View on Zillow →

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,452
Listed2026-08-09
Days on market

Asking rent: $3,500

View on Zillow →

22064 SW 125th Ave

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,513
Listed2026-05-19
Days on market

Asking rent: $3,650

View on Zillow →

10821 SW 232nd St

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,502
Listed
Days on market

Asking rent: $2,860

View on Zillow →

22205 SW 109th Ct

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,300
Listed2026-08-21
Days on market

Asking rent: $3,100

View on Zillow →

10745 SW 217th Ave

Miami, 33170 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,335
Listed
Days on market

Asking rent: $3,000

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
22345 SW 118th Ctsingle_family321,075$449,0002026-08-13
21670 SW 111th Avesingle_family321,456$440,0002026-08-07
12831 SW 229th Stsingle_family331,901$638,0002026-08-06
19300 SW 216th Stsingle_family321,658$800,0002026-08-04
10820 SW 220th Stsingle_family31920$310,0002026-08-04
12551 SW 223rd Stsingle_family321,260$569,9002026-08-04
19950 SW 228th Stsingle_family314,440$1,293,7502026-07-28
17180 SW 232nd Stsingle_family323,744$1,800,0002026-07-08
22310 SW 114th Ctsingle_family311,550$550,0002026-07-08
11373 SW 227th Tersingle_family321,235$525,0002026-07-07
21701 SW 187th Avesingle_family322,542$1,140,0002026-07-07
11969 SW 216th Stsingle_family31810$295,0002026-06-22
23440 SW 159th Avesingle_family32889$950,0002026-06-15
22116 SW 115th Avesingle_family321,346$480,0002026-06-11
22315 SW 108th Ctsingle_family311,089$400,0002026-06-10
10880 SW 222nd Drsingle_family31884$300,0002026-06-05
12245 SW 218th Stsingle_family321,494$530,0002026-06-05
10960 SW 219th Stsingle_family311,276$451,9002026-06-05
22936 SW 115th Ctsingle_family321,652$570,0002026-06-05
10781 SW 221st Stsingle_family31920$379,0002026-06-02
9093811958single_family31920$452,0002026-06-01
22732 SW 113th Plsingle_family321,825$500,0002026-05-29
22925 SW 122nd Plsingle_family32$695,0002026-05-18
12390 SW 217th Stsingle_family321,299$347,0002026-05-15
22736 SW 114th Plsingle_family321,050$440,0002026-05-11
10945 SW 218th Tersingle_family311,245$293,0002026-05-07
11017 SW 226th Tersingle_family321,542$535,0002026-04-28
22535 SW 113th Ctsingle_family321,340$509,0002026-04-27
19200 SW 218th Stsingle_family321,344$790,0002026-04-24
22600 SW 180th Ctsingle_family332,265$900,0002026-04-21
23083 SW 107th Plsingle_family321,502$550,0002026-04-15
22155 Miami Avesingle_family321,722$614,0002026-04-14
22908 SW 155th Avesingle_family322,106$640,0002026-04-10
12160 SW 219th Stsingle_family31780$380,0002026-04-10
10840 SW 222nd Drsingle_family311,176$459,0002026-03-30
21675 SW 232nd Stsingle_family344,318$2,800,0002026-03-24
18900 SW 224th Stsingle_family322,416$1,450,0002026-03-17
22270 SW 109th Avesingle_family321,728$510,0002026-03-10
12535 SW 219th Stsingle_family321,630$565,0002026-03-06
10735 SW 224th Stsingle_family31792$116,7002026-03-05
10753 SW 229th Stsingle_family321,502$575,0002026-03-03
22801 SW 123rd Avesingle_family321,492$575,0002026-02-20
13831 SW 232nd Stsingle_family323,167$974,7002026-02-02
13851 SW 232nd Stsingle_family312,123$1,071,0002026-02-02
18405 SW 216th Stsingle_family321,968$800,0002026-01-30
10765 SW 222nd Stsingle_family311,390$525,0002026-01-27
19390 SW 232nd Stsingle_family331,721$1,470,0002026-01-22
10730 SW 220th Stsingle_family31920$400,0002026-01-09
12542 SW 223rd Stsingle_family321,260$539,0002025-12-10
11472 SW 227th Tersingle_family311,050$449,0002025-12-04

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.

AddressTypeBedsBathsSqftAsking priceDays on market
23082 SW 127th Pl Unit 0townhomes331,441$455,000
12955 SW 231st Ter Unit 12955townhomes331,695$559,700
23029 SW 128th Pltownhomes331,442$440,000
23220 SW 131st Cttownhomes331,331$445,000
11073 SW 231 Lntownhomes331,668$508,290
SW 232 St & SW 112th Avetownhomes321,416$462,990
SW 232 St & SW 112th Avetownhomes331,504$481,990
SW 232 St & SW 112th Avetownhomes321,368$444,990

10-year hold projection

IRR1.9%
Equity multiple1.31x
Total return (10yr)$99,375
YearProperty valueNOICash flowLoan balanceEquity
1$494,297$16,527-$14,939$379,758$114,539
2$509,126$17,112-$14,401$375,309$133,817
3$524,400$17,716-$13,845$370,555$153,844
4$540,132$18,340-$13,269$365,475$174,657
5$556,336$18,986-$12,674$360,046$196,290
6$573,026$19,653-$12,058$354,244$218,782
7$590,216$20,343-$11,421$348,044$242,173
8$607,923$21,055-$10,762$341,417$266,506
9$626,161$21,792-$10,080$334,336$291,824
10$644,945$22,554-$9,375$326,769$318,177
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.