20840 San Simeon Way Apt 609
Miami, FL 33179 · condos · For Sale · 62 days on market
Asking price$229,000
2 beds 2 baths 1,596 sqft
Listed by Ana Garcia · The Listing Firm
Typecondos
Built1983
Price / sqft$143
Est. value (own analysis)$260,571
Rent estimate (own analysis)$2,300/mo
HOA$758/mo
Wind10/10Extreme$Heat10/10ExtremeFlood3/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-07-02
Removed date—
MLSMiamiMLS #A12047004
Coordinates25.96594, -80.19555
Address20840 San Simeon Way Apt 609
CityMiami
StateFL
Zip33179
Listing ID5478984576
Sourceus-real-estate-listings, cached 2026-09-02
ZIP market snapshot (33179)
Typical home value (ZHVI)$274,207
Typical rent (ZORI)$2,257/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 | $229,000 |
| Down payment (20.0%) | $45,800 |
| Loan amount | $183,200 |
| Closing costs (5.0%) | $11,450 |
| Total cash to close | $57,250 |
| Income | |
| Rent (comp-derived) | $2,300$27,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,116$25,392 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $363$4,351 |
| Insurance (est. scaled by flood & wind risk) | $244$2,931 |
| HOA dues | $758$9,096 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $115$1,380 |
| Total operating expenses | $1,480$17,758 |
| 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) | $115$1,380 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 2 | 2 | 1,140 | $2,300 | 2026-08-19 | — | |
| condos | 2 | 2 | 1,140 | $2,250 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,468 | $2,450 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,400 | $2,500 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,060 | $2,200 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,315 | $2,300 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,315 | $2,375 | 2026-08-12 | — | |
| condos | 2 | 2 | 1,118 | $1,950 | 2026-08-12 | — | |
| condos | 2 | 3 | 1,040 | $2,300 | 2026-08-11 | — | |
| condos | 2 | 2 | 1,315 | $2,300 | 2026-08-06 | — | |
| condos | 2 | 2 | 1,222 | $2,300 | 2026-07-26 | — | |
| condos | 2 | 2 | 1,222 | $2,100 | 2026-07-22 | — | |
| condos | 2 | 2 | 1,674 | $2,500 | 2026-07-22 | — | |
| condos | 2 | 2 | 1,470 | $2,300 | 2026-07-21 | — | |
| condos | 2 | 2 | 1,257 | $2,350 | 2026-07-20 | — | |
| condos | 2 | 2 | 1,470 | $2,100 | 2026-07-18 | — | |
| condos | 2 | 2 | 1,315 | $2,150 | 2026-07-16 | — | |
| condos | 2 | 2 | 1,060 | $2,000 | 2026-07-15 | — | |
| condos | 2 | 2 | 1,470 | $2,200 | 2026-08-23 | — | |
| condos | 2 | 2 | 1,121 | $1,850 | 2026-07-10 | — | |
| apartment | 2 | 2 | 1,060 | $1,900 | 2026-07-09 | — | |
| condos | 2 | 2 | 1,405 | $2,200 | 2026-07-04 | — | |
| condos | 2 | 2 | 1,140 | $2,150 | 2026-07-01 | — | |
| condos | 2 | 2 | 1,315 | $2,397 | 2026-06-30 | — | |
| condos | 2 | 2 | 1,376 | $2,500 | 2026-06-29 | — | |
| condos | 2 | 2 | 1,156 | $2,000 | 2026-06-27 | — | |
| apartment | 2 | 2 | 1,192 | $2,150 | 2026-06-24 | — | |
| condos | 2 | 2 | 1,234 | $2,600 | 2026-06-24 | — | |
| condos | 2 | 2 | 1,222 | $2,150 | 2026-06-17 | — | |
| condos | 2 | 2 | 1,081 | $1,900 | 2026-06-17 | — | |
| condos | 2 | 2 | 1,283 | $2,300 | 2026-06-11 | — | |
| condos | 2 | 2 | 1,060 | $2,000 | 2026-06-08 | — | |
| condos | 2 | 2 | 1,116 | $1,900 | 2026-06-05 | — | |
| condos | 2 | 2 | 1,140 | $2,000 | 2026-05-28 | — | |
| condos | 2 | 2 | 1,222 | $2,100 | 2026-05-21 | — | |
| condos | 2 | 2 | 1,317 | $2,290 | 2026-05-19 | — | |
| condos | 2 | 2 | 1,315 | $2,375 | 2026-05-19 | — | |
| condos | 2 | 2 | 1,315 | $2,050 | 2026-05-15 | — | |
| condos | 2 | 2 | 1,389 | $2,150 | 2026-05-14 | — | |
| condos | 2 | 2 | 1,140 | $2,200 | 2026-05-11 | — | |
| condos | 2 | 2 | 1,140 | $2,400 | 2026-05-11 | — | |
| condos | 2 | 2 | 1,222 | $2,250 | 2026-08-04 | — | |
| condos | 2 | 2 | 1,060 | $2,100 | 2026-08-04 | — | |
| condos | 2 | 2 | 1,140 | $2,400 | 2026-08-03 | — | |
| condos | 2 | 2 | 1,060 | $2,200 | 2026-08-02 | — | |
| condos | 2 | 2 | 1,081 | $2,000 | 2026-08-02 | — | |
| condos | 2 | 2 | 1,192 | $2,000 | 2026-07-30 | — | |
| condos | 2 | 2 | 1,222 | $2,500 | 2026-07-27 | — | |
| condos | 2 | 2 | 1,468 | $1,800 | 2026-01-28 | — | |
| condos | 2 | 2 | 1,232 | $2,350 | 2026-04-20 | — | |
| condos | 2 | 2 | 1,586 | $2,500 | 2026-03-10 | — | |
| condos | 2 | 2 | 1,317 | $2,200 | 2026-03-07 | — | |
| condos | 2 | 2 | 1,400 | $2,900 | 2026-03-12 | — | |
| apartment | 2 | 2 | 1,090 | $2,549 | 2025-08-30 | — | |
| condos | 2 | 2 | 1,586 | $2,600 | 2025-10-05 | — | |
| condos | 2 | 3 | 1,040 | $2,650 | 2026-01-02 | — | |
| condos | 2 | 2 | 1,192 | $2,150 | 2025-03-07 | — | |
| condos | 2 | 2 | 1,060 | $2,250 | 2026-02-04 | — | |
| condos | 2 | 2 | 1,596 | $2,350 | 2026-01-23 | — | |
| apartment | 2 | 2 | 1,090 | $2,679 | 2024-12-10 | — | |
| apartment | 2 | 2 | 1,092 | $2,694 | — | — | |
| condos | 2 | 2 | 1,315 | $2,200 | 2026-06-30 | — | |
| condos | 2 | 2 | 1,470 | $2,400 | 2026-08-25 | — | |
| condos | 2 | 2 | 1,041 | $2,000 | 2026-05-14 | — | |
| condos | 2 | 2 | 1,041 | $2,300 | 2026-04-06 | — | |
| condos | 2 | 2 | 1,140 | $2,300 | 2026-04-28 | — | |
| apartment | 2 | 2 | 1,092 | $2,674 | — | — | |
| apartment | 2 | 2 | 1,092 | $2,674 | — | — | |
| apartment | 2 | 2 | 1,314 | $2,904 | — | — | |
| condos | 2 | 2 | 1,560 | $2,500 | — | — | |
| apartment | 2 | 2 | 1,092 | $2,649 | — | — | |
| apartment | 2 | 2 | 1,314 | $2,874 | — | — | |
| apartment | 2 | 2 | 1,092 | $2,639 | — | — | |
| apartment | 2 | 2 | 1,314 | $2,899 | — | — | |
| apartment | 2 | 2 | 1,145 | $2,780 | — | — | |
| apartment | 2 | 2 | 1,092 | $2,629 | — | — | |
| apartment | 2 | 2 | 1,090 | $2,699 | — | — | |
| apartment | 2 | 2 | 1,092 | $2,694 | — | — | |
| apartment | 2 | 2 | 1,314 | $2,884 | — | — | |
| apartment | 2 | 2 | 1,314 | $2,909 | — | — | |
| condos | 2 | 2 | 1,140 | $2,100 | 2026-08-29 | — | |
| condos | 2 | 2 | 1,165 | $2,000 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 337 Ives Dairy Rd Apt 12 | condos | 2 | 2 | 1,715 | $280,000 | 2026-09-01 |
| 819 NE 199th St Unit 6-205 | condos | 2 | 2 | 870 | $189,000 | 2026-08-28 |
| 18555 NE 14th Ave Unit 502B | condos | 2 | 2 | 1,146 | $150,000 | 2026-08-26 |
| 1750 NE 191st St Unit 522-3 | condos | 2 | 2 | 1,036 | $190,000 | 2026-08-24 |
| 831 NE 199th St Unit 101-34 | condos | 2 | 2 | 835 | $185,000 | 2026-08-21 |
| 927 NE 199th St Apt 103 | condos | 2 | 2 | 907 | $206,000 | 2026-08-20 |
| 1201 NE 191st St Unit G304 | condos | 2 | 2 | 1,789 | $215,000 | 2026-08-13 |
| 1200 NE Miami Gardens Dr Unit 606W | condos | 2 | 2 | 1,283 | $220,000 | 2026-08-13 |
| 1690 NE 191st St Unit 408-1 | condos | 2 | 2 | 1,315 | $220,000 | 2026-08-10 |
| 481 Ives Dairy Rd Unit 303-4 | condos | 2 | 2 | 1,287 | $190,000 | 2026-08-10 |
| 900 NE 195th St Apt 215 | condos | 2 | 2 | 1,080 | $199,900 | 2026-08-07 |
| 907 NE 199th St Apt 106 | condos | 2 | 2 | 907 | $185,000 | 2026-08-05 |
| 907 NE 199th St Apt 101 | condos | 2 | 2 | 1,070 | $160,000 | 2026-07-31 |
| 20140 NE 3rd Ct Apt 1 | condos | 2 | 2 | 978 | $179,000 | 2026-07-29 |
| 18900 NE 3rd Ct Apt 509 | condos | 2 | 1 | 850 | $125,000 | 2026-07-29 |
| 950 NE 199th St Unit 2H | condos | 2 | 2 | 1,192 | $135,000 | 2026-07-27 |
| 1351 NE Miami Gardens Dr Apt 1605E | condos | 2 | 2 | 1,140 | $155,000 | 2026-07-24 |
| 20025 NE 3rd Ct Apt 8 | condos | 2 | 2 | 978 | $204,900 | 2026-07-24 |
| 115 NE 202nd Ter Unit M19 | condos | 2 | 2 | 1,012 | $149,000 | 2026-07-21 |
| 5488338328 | condos | 2 | 1 | 870 | $180,000 | 2026-07-17 |
| 1700 NE 191st St Apt 105 | condos | 2 | 2 | 1,036 | $150,000 | 2026-07-17 |
| 900 NE 195th St Apt 414 | condos | 2 | 2 | 1,220 | $160,000 | 2026-07-15 |
| 903 NE 199th St Apt 104 | condos | 2 | 2 | 907 | $250,000 | 2026-07-13 |
| 1101 NE 191st St Apt 307 | condos | 2 | 2 | 1,156 | $185,000 | 2026-07-09 |
| 1770 NE 191st St Unit 411-1 | condos | 2 | 2 | 1,315 | $174,000 | 2026-07-07 |
| 1750 NE 191st St Apt 811 | condos | 2 | 2 | 1,317 | $150,000 | 2026-07-06 |
| 871 NE 207th Ln Unit 203-15 | condos | 2 | 2 | 970 | $200,000 | 2026-07-06 |
| 927 NE 199th St Apt 104 | condos | 2 | 2 | 907 | $184,000 | 2026-07-02 |
| 605 Ives Dairy Rd Unit 305-7 | condos | 2 | 2 | 1,428 | $308,000 | 2026-07-01 |
| 871 NE 207th Ter Apt 102 | condos | 2 | 2 | 970 | $190,000 | 2026-06-25 |
| 20120 NE 3rd Ct Apt 8 | condos | 2 | 2 | 978 | $209,500 | 2026-06-24 |
| 661 NE 195th St Apt 408 | condos | 2 | 2 | 1,197 | $185,000 | 2026-06-10 |
| 1770 NE 191st St Unit 203-1 | condos | 2 | 2 | 1,315 | $132,000 | 2026-06-09 |
| 800 NE 195th St Apt 606 | condos | 2 | 2 | 1,470 | $167,000 | 2026-06-05 |
| 1750 NE 191st St Unit 403-1 | condos | 2 | 2 | 1,317 | $200,000 | 2026-06-03 |
| 950 NE 199th St Unit 1A101 | condos | 2 | 2 | — | $130,000 | 2026-05-22 |
| 1710 NE 191st St Unit 209-3 | condos | 2 | 2 | 1,315 | $148,000 | 2026-05-19 |
| 1710 NE 191st St Unit 111-3 | condos | 2 | 2 | 1,315 | $154,454 | 2026-05-18 |
| 464 NE 210th Cir Ter Unit 20410A | condos | 2 | 2 | 1,060 | $170,000 | 2026-05-07 |
| 1481 NE Miami Gardens Dr Apt 168 | condos | 2 | 2 | 1,132 | $105,000 | 2026-04-30 |
| 871 NE 207th Ter Unit 4-202 | condos | 2 | 2 | 970 | $190,000 | 2026-04-28 |
| 300 NE 191st St Apt 212 | condos | 2 | 2 | 990 | $150,000 | 2026-04-21 |
| 1300 NE Miami Gardens Dr Unit 613E | condos | 2 | 2 | 1,222 | $245,000 | 2026-04-10 |
| 452 NE 210th Circle Ter Unit 2037 | condos | 2 | 2 | 1,060 | $200,000 | 2026-04-08 |
| 922 NE 199th St Unit 1D | condos | 2 | 2 | 1,192 | $135,000 | 2026-04-08 |
| 20761 NE 4th Pl Apt 205 | condos | 2 | 2 | 917 | $223,000 | 2026-04-08 |
| 911 NE 199th St Unit 203-14 | condos | 2 | 1 | 870 | $160,000 | 2026-04-06 |
| 1791 NE Miami Gardens Dr Unit E502 | condos | 2 | 2 | 1,234 | $325,000 | 2026-03-31 |
| 927 NE 199th St Apt 202 | condos | 2 | 2 | 907 | $206,000 | 2026-03-31 |
| 873 NE 195th St Apt 309 | condos | 2 | 2 | 1,320 | $215,000 | 2026-03-25 |
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 |
|---|---|---|---|---|---|---|
| 1670 NE 191st St Unit 109-3 | condos | 2 | 2 | 1,315 | $189,000 | — |
| 509 NE 199th Ln Unit 3A | condo_townhome_rowhome_coop | 2 | 2 | 1,580 | $349,000 | — |
| 341 Ives Dairy Rd Unit 341-06 | condos | 2 | 3 | 1,283 | $314,999 | — |
| 20800 NE 8th Ct Unit 105-17 | condos | 2 | 2 | 956 | $195,000 | — |
| 1351 NE Miami Gardens Dr Apt 626E | condos | 2 | 2 | 1,140 | $235,000 | — |
| 20860 San Simeon Way Unit 205-6 | condos | 2 | 2 | 1,586 | $265,500 | — |
| 423 NE 210th Cir Ter Unit 104-25 | condos | 2 | 2 | 1,060 | $275,000 | — |
| 1301 NE Miami Gardens Dr Apt 1025W | condos | 2 | 2 | 1,140 | $240,000 | — |
10-year hold projection
IRR1.2%
Equity multiple1.20x
Total return (10yr)$41,432
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $235,870 | $7,634 | -$7,874 | $181,214 | $54,656 |
| 2 | $242,946 | $7,952 | -$7,590 | $179,091 | $63,855 |
| 3 | $250,234 | $8,281 | -$7,296 | $176,823 | $73,412 |
| 4 | $257,742 | $8,623 | -$6,991 | $174,398 | $83,343 |
| 5 | $265,474 | $8,977 | -$6,674 | $171,808 | $93,666 |
| 6 | $273,438 | $9,345 | -$6,344 | $169,039 | $104,399 |
| 7 | $281,641 | $9,725 | -$6,003 | $166,080 | $115,561 |
| 8 | $290,090 | $10,120 | -$5,648 | $162,919 | $127,172 |
| 9 | $298,793 | $10,529 | -$5,280 | $159,540 | $139,253 |
| 10 | $307,757 | $10,953 | -$4,898 | $155,929 | $151,828 |
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.