3491 Palm Ave
Hialeah, FL 33012 · single_family · Pending — under contract · 61 days on market
Asking price$680,000
5 beds 3 baths 1,946 sqft
Suggested offer$647,960$32,040 above the est. market value of $647,960.
View on Realtor.com →Listed by Jimmy Gave · Florida Real Estate Experts
Typesingle_family
Built1954
Price / sqft$349
Est. value (own analysis)$647,960
Rent estimate (own analysis)$4,550/mo
HOANone
1 / 2
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Statusfor_sale
Listed date2026-07-04
Removed date—
MLSMiamiMLS #A12048006
Coordinates25.85387, -80.28228
Address3491 Palm Ave
CityHialeah
StateFL
Zip33012
Listing ID5467641208
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33012)
Typical home value (ZHVI)$385,585
Typical rent (ZORI)$2,270/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 | $680,000 |
| Down payment (20.0%) | $136,000 |
| Loan amount | $544,000 |
| Closing costs (5.0%) | $34,000 |
| Total cash to close | $170,000 |
| Income | |
| Rent (comp-derived) | $4,550$54,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,186$50,232 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,077$12,920 |
| Insurance (placeholder 0.8% of price) | $453$5,440 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $228$2,730 |
| Total operating expenses | $1,758$21,090 |
| 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) | $228$2,730 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 3 | 2,540 | $3,920 | — | — | |
| single_family | 5 | 4 | 1,769 | $5,450 | — | — | |
| single_family | 5 | 2 | 1,750 | $4,900 | 2026-07-01 | — | |
| single_family | 5 | 3 | 2,263 | $4,200 | — | — |
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 |
|---|---|---|---|---|---|---|
| 4265 W 8th Ave | single_family | 5 | 4 | 2,102 | $730,000 | 2026-08-05 |
| 937 W 33rd St | single_family | 5 | 4 | 2,599 | $810,000 | 2026-07-06 |
| 5431 W 2nd Ave | single_family | 5 | 2 | 1,476 | $604,000 | 2026-06-15 |
| 766 W 36th St | single_family | 5 | 3 | 2,136 | $695,000 | 2026-06-09 |
| 3920 W 3rd Ave | single_family | 5 | 2 | 1,847 | $655,000 | 2026-05-26 |
| 3581 W 2nd Ave | single_family | 5 | 2 | 1,485 | $440,000 | 2026-05-07 |
| 4141 W 4th Ave | single_family | 5 | 3 | 2,410 | $639,000 | 2026-05-05 |
| 6120 NW 110th Ter | single_family | 5 | 3 | 1,963 | $685,000 | 2026-05-01 |
| 261 W 41st St | single_family | 5 | 3 | 3,158 | $597,700 | 2026-04-10 |
| 1317 W 61st Pl | single_family | 5 | 2 | 1,900 | $630,000 | 2026-04-09 |
| 5355 W 5th Ln | single_family | 5 | 3 | 1,929 | $645,000 | 2026-03-24 |
| 900 W 50th Pl | single_family | 5 | 3 | 1,776 | $620,000 | 2026-02-19 |
| 6520 W 8th Ln | single_family | 5 | 3 | 2,055 | $690,000 | 2025-12-15 |
| 839 W 39th Pl | single_family | 5 | 5 | 3,864 | $860,000 | 2025-10-29 |
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 |
|---|---|---|---|---|---|---|
| 700 W 51st Pl | single_family | 5 | 4 | 2,293 | $895,000 | — |
| 142 W 35th St | single_family | 5 | 2 | 1,610 | $720,000 | — |
| 6265 W 10th Ave | single_family | 5 | 4 | 3,315 | $1,595,000 | — |
| 340 W 55th St | single_family | 5 | 3 | 2,421 | $719,997 | — |
| 6185 W 10th Ave | single_family | 5 | 4 | 1,852 | $2,000,000 | — |
| 1450 W 37th St | single_family | 5 | 3 | 2,728 | $850,000 | — |
| 733 W 33rd St | single_family | 5 | 3 | 2,280 | $650,000 | — |
| 4210 W 6th Ave | single_family | 5 | 3 | 2,100 | $829,900 | — |
10-year hold projection
IRR4.2%
Equity multiple1.68x
Total return (10yr)$204,327
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $700,400 | $29,142 | -$15,539 | $538,102 | $162,298 |
| 2 | $721,412 | $30,122 | -$14,627 | $531,799 | $189,613 |
| 3 | $743,054 | $31,133 | -$13,685 | $525,063 | $217,992 |
| 4 | $765,346 | $32,178 | -$12,712 | $517,864 | $247,482 |
| 5 | $788,306 | $33,257 | -$11,707 | $510,171 | $278,135 |
| 6 | $811,956 | $34,371 | -$10,668 | $501,950 | $310,006 |
| 7 | $836,314 | $35,522 | -$9,595 | $493,164 | $343,150 |
| 8 | $861,404 | $36,710 | -$8,486 | $483,775 | $377,629 |
| 9 | $887,246 | $37,936 | -$7,341 | $473,741 | $413,505 |
| 10 | $913,863 | $39,203 | -$6,157 | $463,018 | $450,845 |
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.