221 SW 78th Pl Unit 221/231
Miami, FL 33144 · multi_family · For Sale · 20 days on market
Asking price$1,100,000
6 beds 4 baths 2,240 sqft
Suggested offer$681,811$418,189 above the est. market value of $681,811.
View on Realtor.com →Listed by Shakie J.Iskandarian · Beautiful Homes Realty Inc
Typemulti_family
Built2002
Price / sqft$491
Est. value (own analysis)$681,811
Rent estimate (building total, own analysis)$7,073/mo
HOANone
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Statusfor_sale
Listed date2026-08-13
Removed date—
MLSBeachesMLS #B26064008
Coordinates25.76767, -80.32337
Address221 SW 78th Pl Unit 221/231
CityMiami
StateFL
Zip33144
Listing ID5503296492
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33144)
Typical home value (ZHVI)$626,128
Typical rent (ZORI)$2,322/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 | $1,100,000 |
| Down payment (20.0%) | $220,000 |
| Loan amount | $880,000 |
| Closing costs (5.0%) | $55,000 |
| Total cash to close | $275,000 |
| Income | |
| Rent (estimate) | $7,073$84,874 |
| Vacancy loss (8.0%) | |
| Effective gross income | $6,507$78,084 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,742$20,900 |
| Insurance (placeholder 0.8% of price) | $733$8,800 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $354$4,244 |
| Total operating expenses | $2,829$33,944 |
| 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) | $354$4,244 |
| 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.
No active rental listings cached yet for this bedroom count.
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 6330 W Flagler St | multi_family | 8 | 8 | 5,244 | $1,150,000 | 2026-07-21 |
| 6429876886 | multi_family | — | — | 1,692 | $975,000 | 2026-05-21 |
| 300 SW 79th Ct | multi_family | 4 | 2 | 2,438 | $700,000 | 2026-04-29 |
| 1035-1037 SW 76th Ave | multi_family | — | — | 2,998 | $920,000 | 2026-02-20 |
| 5790 SW 5th St | multi_family | — | — | 1,715 | $725,000 | 2026-01-08 |
| 1224 SW 76th Ct | multi_family | — | — | 3,064 | $925,000 | 2025-12-29 |
Widened to city-wide. 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 |
|---|---|---|---|---|---|---|
| 7740 SW 52nd Ave | single_family | 6 | 8 | 6,936 | $8,750,000 | — |
| 2231 NW 4th Ter | single_family | 6 | 4 | 2,128 | $749,000 | — |
| 135 SW 29th Rd | single_family | 6 | 8 | 4,287 | $5,600,000 | — |
| 3321 NW 19th Ter | multi_family | 6 | 4 | 2,244 | $1,180,000 | — |
| 530 NW 99th St | multi_family | 6 | 4 | 2,465 | $665,000 | — |
| 244 SW 36th Ave | multi_family | 6 | 3 | 1,847 | $639,000 | — |
| 9881 SW 148th Ter | single_family | 6 | 7 | 6,140 | $3,200,000 | — |
| 9715 SW 89th Ct | single_family | 6 | 7 | 6,062 | $4,290,000 | — |
10-year hold projection
IRR3.5%
Equity multiple1.56x
Total return (10yr)$298,016
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,133,000 | $44,141 | -$27,965 | $870,459 | $262,541 |
| 2 | $1,166,990 | $45,635 | -$26,577 | $860,262 | $306,728 |
| 3 | $1,202,000 | $47,178 | -$25,142 | $849,366 | $352,634 |
| 4 | $1,238,060 | $48,771 | -$23,660 | $837,721 | $400,339 |
| 5 | $1,275,201 | $50,417 | -$22,129 | $825,276 | $449,925 |
| 6 | $1,313,458 | $52,117 | -$20,546 | $811,977 | $501,480 |
| 7 | $1,352,861 | $53,873 | -$18,910 | $797,765 | $555,096 |
| 8 | $1,393,447 | $55,686 | -$17,220 | $782,576 | $610,871 |
| 9 | $1,435,251 | $57,558 | -$15,474 | $766,345 | $668,905 |
| 10 | $1,478,308 | $59,491 | -$13,670 | $748,999 | $729,309 |
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.