7239 NW Third St
Miami, FL 33126 · multi_family · For Sale · 12 days on market
Asking price$770,000
4 beds 3 baths 1,480 sqft
Suggested offer$569,231$200,769 above the est. market value of $569,231.
View on Realtor.com →Listed by Danny Crespo · Rejoice Realty Group, Inc.
Typemulti_family
Built1955
Price / sqft$520
Est. value (own analysis)$569,231
Rent estimate (building total, own analysis)$4,026/mo
HOANone
1 / 44
Show every detail
Statusfor_sale
Listed date2026-08-21
Removed date—
MLSMiamiMLS #A12075520
Coordinates25.77397, -80.31316
Address7239 NW Third St
CityMiami
StateFL
Zip33126
Listing ID5465918752
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33126)
Typical home value (ZHVI)$303,717
Typical rent (ZORI)$2,370/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 | $770,000 |
| Down payment (20.0%) | $154,000 |
| Loan amount | $616,000 |
| Closing costs (5.0%) | $38,500 |
| Total cash to close | $192,500 |
| Income | |
| Rent (estimate) | $4,026$48,307 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,704$44,443 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,219$14,630 |
| Insurance (placeholder 0.8% of price) | $513$6,160 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $201$2,415 |
| Total operating expenses | $1,934$23,205 |
| 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) | $201$2,415 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| multi_family | 4 | 2 | 1,686 | $3,400 | 2026-08-24 | — |
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 |
|---|---|---|---|---|---|---|
| 280 NW 41st Ave | multi_family | 4 | 2 | 1,680 | $650,000 | 2026-06-29 |
| 445 NW 45th Ave | multi_family | 4 | 2 | 3,635 | $900,000 | 2026-03-02 |
| 93 NW 75th Ave | multi_family | 4 | 2 | 2,398 | $781,000 | 2026-01-20 |
| 100 NW 43rd Pl | multi_family | 4 | 2 | 1,820 | $700,000 | 2025-12-26 |
| 1050 NW 43rd Ave | multi_family | 4 | 2 | 1,325 | $610,000 | 2025-09-25 |
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 |
|---|---|---|---|---|---|---|
| 30 NW 56th Ct | multi_family | 4 | 2 | 1,450 | $725,000 | — |
| 6100 NW 2nd St | single_family | 4 | 3 | 1,836 | $850,000 | — |
| 321 NW 56th Ave | single_family | 4 | 3 | 1,345 | $800,000 | — |
| 6060 NW 7th St | single_family | 4 | 2 | 1,168 | $475,000 | — |
| 4074 NW 4th St | single_family | 4 | 3 | 1,506 | $644,000 | — |
| 4518 NW 4th St | townhomes | 4 | 4 | 3,180 | $770,000 | — |
| 8408 NW 8th St Unit 8408 | townhomes | 4 | 3 | 1,794 | $610,000 | — |
| 5181 NW 5th St | multi_family | 4 | 2 | 1,806 | $730,999 | — |
10-year hold projection
IRR0.1%
Equity multiple1.02x
Total return (10yr)$103,932
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $793,100 | $21,237 | -$28,681 | $609,321 | $183,779 |
| 2 | $816,893 | $21,990 | -$27,988 | $602,184 | $214,709 |
| 3 | $841,400 | $22,769 | -$27,272 | $594,556 | $246,844 |
| 4 | $866,642 | $23,574 | -$26,530 | $586,405 | $280,237 |
| 5 | $892,641 | $24,406 | -$25,763 | $577,694 | $314,947 |
| 6 | $919,420 | $25,266 | -$24,969 | $568,384 | $351,036 |
| 7 | $947,003 | $26,156 | -$24,148 | $558,436 | $388,567 |
| 8 | $975,413 | $27,075 | -$23,299 | $547,804 | $427,609 |
| 9 | $1,004,675 | $28,025 | -$22,421 | $536,442 | $468,233 |
| 10 | $1,034,816 | $29,007 | -$21,512 | $524,300 | $510,516 |
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.