515 SW 3rd Ave
Homestead, FL 33030 · multi_family · For Sale · 55 days on market
Asking price$1,000,090
2 beds 1 baths 2,414 sqft
Suggested offer$702,620$297,470 above the est. market value of $702,620.
View on Realtor.com →Listed by Maria Esther Garcia · Elite Sales Group Real Estate
Typemulti_family
Built1961
Price / sqft$414
Est. value (own analysis)$702,620
Rent estimate (building total, own analysis)$4,401/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood7/10severe$Wildfire3/10ModerateAir2/10Minor
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Statusfor_sale
Listed date2026-07-09
Removed date—
MLSMiamiMLS #A12048393
Coordinates25.46490, -80.48215
Address515 SW 3rd Ave
CityHomestead
StateFL
Zip33030
Listing ID5532199853
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33030)
Typical home value (ZHVI)$521,479
Typical rent (ZORI)$2,465/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 | $1,000,090 |
| Down payment (20.0%) | $200,018 |
| Loan amount | $800,072 |
| Closing costs (5.0%) | $50,005 |
| Total cash to close | $250,023 |
| Income | |
| Rent (estimate) | $4,401$52,816 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,049$48,590 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,583$19,002 |
| Insurance (est. scaled by flood & wind risk) | $1,300$15,601 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $220$2,641 |
| Total operating expenses | $3,104$37,244 |
| 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) | $220$2,641 |
| 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 |
|---|---|---|---|---|---|---|
| 1011 NW 9th St | multi_family | 4 | 2 | 1,500 | $500,000 | 2026-07-27 |
| 1160 NW 9th St | multi_family | — | — | 1,566 | $420,000 | 2026-06-17 |
| 520 SW 6th Ave | multi_family | 7 | 2 | 2,317 | $13,851,000 | 2026-06-10 |
| 280 SW 11th Ave | multi_family | 4 | 4 | 1,829 | $4,680,000 | 2026-04-10 |
| 312 SW 11th Ave | multi_family | 6 | 6 | 2,582 | $4,680,000 | 2026-04-10 |
| 240 SW 11th Ave | multi_family | 12 | 6 | 3,400 | $4,680,000 | 2026-04-10 |
| 260 SW 11th Ave | multi_family | 4 | 4 | 1,861 | $4,680,000 | 2026-04-10 |
| 901 NW 11th St | multi_family | 4 | 2 | 1,566 | $455,000 | 2026-03-31 |
| 1120 NW 11th St | multi_family | — | — | 1,740 | $445,000 | 2026-03-31 |
| 933 NW 11th St | multi_family | — | — | 1,566 | $455,000 | 2026-03-19 |
| 786 NW 13th St | multi_family | 4 | 2 | 1,500 | $350,000 | 2026-02-26 |
| 1140 NW 9th St | multi_family | — | — | 1,566 | $450,000 | 2026-02-20 |
| 1001 NW 9th Ct | multi_family | 4 | 2 | 1,764 | $184,800 | 2025-11-25 |
| 1105 SW 2nd St | multi_family | 4 | 2 | 1,150 | $420,000 | 2025-10-10 |
| 821 SW 5th St | multi_family | — | — | 962 | $280,000 | 2025-09-15 |
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 |
|---|---|---|---|---|---|---|
| 722 SW 3rd Ave | single_family | 2 | 1 | 600 | $225,000 | — |
| 536 SW 6th Ter | multi_family | 2 | 2 | 900 | $375,000 | — |
| 100 SE 6th Ave | mobile | 2 | 1 | — | $49,000 | — |
| 21025 SW 300th St | single_family | 2 | 1 | 1,946 | $1,200,000 | — |
| 451 SE 8th St Lot 56 | mobile | 2 | 1 | — | $65,000 | — |
| 1238 Old Dixie Hwy | single_family | 2 | 1 | 720 | $399,900 | — |
| 265 NE 12th Ave Unit 265 | condos | 2 | 2 | 1,084 | $210,000 | — |
| 611 SW 8th Ave | multi_family | 2 | 1 | 1,346 | $445,000 | — |
10-year hold projection
IRR-4.2%
Equity multiple0.30x
Total return (10yr)-$43,737
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,030,093 | $11,346 | -$52,992 | $791,397 | $238,695 |
| 2 | $1,060,995 | $11,873 | -$52,531 | $782,127 | $278,868 |
| 3 | $1,092,825 | $12,420 | -$52,052 | $772,220 | $320,605 |
| 4 | $1,125,610 | $12,988 | -$51,553 | $761,633 | $363,977 |
| 5 | $1,159,378 | $13,579 | -$51,034 | $750,319 | $409,060 |
| 6 | $1,194,160 | $14,191 | -$50,494 | $738,228 | $455,932 |
| 7 | $1,229,985 | $14,828 | -$49,932 | $725,306 | $504,678 |
| 8 | $1,266,884 | $15,489 | -$49,348 | $711,497 | $555,387 |
| 9 | $1,304,891 | $16,175 | -$48,741 | $696,740 | $608,150 |
| 10 | $1,344,037 | $16,887 | -$48,109 | $680,970 | $663,068 |
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.