2589 NE 4th St Unit 205
Homestead, FL 33033 · condos · For Sale · 600 days on market
Asking price$260,000
2 beds 2 baths 1,048 sqft
Listed by Paola Guzzo · LL10X Realty
Typecondos
Built2007
Price / sqft$248
Est. value (own analysis)$266,936
Rent estimate (own analysis)$1,900/mo
HOA$189/mo
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Statusfor_sale
Listed date2025-01-10
Removed date—
MLSMiamiMLS #A11722421
Coordinates25.47364, -80.43816
Address2589 NE 4th St Unit 205
CityHomestead
StateFL
Zip33033
Listing ID5545779788
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33033)
Typical home value (ZHVI)$436,367
Typical rent (ZORI)$2,539/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 | $260,000 |
| Down payment (20.0%) | $52,000 |
| Loan amount | $208,000 |
| Closing costs (5.0%) | $13,000 |
| Total cash to close | $65,000 |
| Income | |
| Rent (comp-derived) | $1,900$22,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,748$20,976 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $412$4,940 |
| Insurance (placeholder 0.8% of price) | $173$2,080 |
| HOA dues | $189$2,268 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $95$1,140 |
| Total operating expenses | $869$10,428 |
| 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) | $95$1,140 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 2 | 2 | 1,034 | $2,104 | 2025-03-19 | — | |
| apartment | 2 | 1 | 850 | $1,780 | 2026-08-19 | — | |
| apartment | 2 | 2 | 950 | $1,742 | 2026-07-24 | — | |
| condos | 2 | 2 | 910 | $1,800 | 2026-05-13 | — | |
| condos | 2 | 2 | 895 | $1,700 | 2026-08-11 | — | |
| apartment | 2 | 1 | 880 | $1,995 | 2026-02-20 | — | |
| apartment | 2 | 2 | 896 | $1,730 | 2026-08-05 | — | |
| condos | 2 | 2 | 856 | $1,600 | 2026-04-09 | — | |
| condos | 2 | 2 | 900 | $1,800 | 2026-06-11 | — | |
| condos | 2 | 2 | 1,048 | $1,800 | 2026-06-04 | — | |
| apartment | 2 | 2 | 895 | $1,795 | 2026-08-24 | — | |
| condos | 2 | 2 | 1,046 | $2,000 | 2026-06-19 | — | |
| condos | 2 | 2 | 920 | $2,150 | 2026-08-24 | — | |
| condos | 2 | 2 | 1,048 | $1,850 | 2025-11-07 | — | |
| condos | 2 | 2 | 856 | $1,900 | 2026-08-17 | — | |
| condos | 2 | 3 | 1,290 | $2,200 | 2026-07-03 | — | |
| apartment | 2 | 2 | 900 | $1,800 | 2026-06-26 | — | |
| condos | 2 | 2 | 910 | $1,995 | 2026-06-19 | — | |
| condos | 2 | 2 | 910 | $1,800 | 2026-07-20 | — | |
| condos | 2 | 2 | 900 | $1,800 | 2026-07-17 | — | |
| condos | 2 | 2 | 900 | $1,800 | 2026-05-01 | — | |
| condos | 2 | 1 | 1,274 | $1,950 | 2026-03-18 | — | |
| condos | 2 | 2 | 900 | $1,900 | 2026-05-06 | — | |
| condos | 2 | 2 | 895 | $1,900 | 2026-08-13 | — | |
| condos | 2 | 2 | 989 | $1,800 | 2026-08-11 | — | |
| condos | 2 | 2 | 898 | $1,900 | 2026-08-11 | — | |
| condos | 2 | 2 | 895 | $1,950 | 2026-05-04 | — | |
| condos | 2 | 2 | 1,048 | $2,175 | 2026-07-06 | — | |
| condos | 2 | 2 | 900 | $1,900 | 2026-06-17 | — | |
| apartment | 2 | 2 | 1,050 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,047 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,050 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,050 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,034 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,034 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,034 | $1,900 | — | — | |
| apartment | 2 | 2 | 1,050 | $2,017 | — | — | |
| apartment | 2 | 2 | 1,047 | $2,017 | — | — | |
| apartment | 2 | 2 | 1,050 | $2,068 | — | — | |
| apartment | 2 | 2 | 1,034 | $2,068 | — | — | |
| apartment | 2 | 2 | 1,034 | $2,291 | — | — | |
| apartment | 2 | 2 | 1,034 | $2,349 | — | — | |
| condos | 2 | 2 | 1,151 | $2,000 | — | — | |
| apartment | 2 | 2 | 922 | $2,622 | — | — | |
| apartment | 2 | 2 | 922 | $2,526 | — | — | |
| apartment | 2 | 2 | 1,030 | $2,756 | — | — | |
| condos | 2 | 2 | 926 | $2,000 | 2026-08-10 | — | |
| condos | 2 | 2 | 1,048 | $1,950 | 2026-08-28 | — | |
| condos | 2 | 2 | 910 | $1,750 | 2026-04-02 | — | |
| condos | 2 | 2 | 920 | $1,950 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 985 NE 33rd Ter Unit 102 | condos | 2 | 2 | 920 | $230,000 | 2026-04-27 |
| 364 NE 25th Pl Unit 103 | condos | 2 | 2 | 1,048 | $269,000 | 2026-04-02 |
| 2641 NE 4th St Unit 202 | condos | 2 | 2 | 1,048 | $220,000 | 2026-01-26 |
| 15422 SW 284th St Unit 7104 | condos | 2 | 2 | 895 | $176,000 | 2026-01-05 |
| 371 NE 26th Ter Unit 202 | condos | 2 | 2 | 1,048 | $275,000 | 2025-11-05 |
| 371 NE 26th Ter Unit 103 | condos | 2 | 2 | 1,048 | $275,000 | 2025-11-03 |
| 374 NE 26th Ave Unit 102 | condos | 2 | 2 | 1,048 | $275,000 | 2025-11-01 |
| 980 NE 33rd Ter Unit 203 | condos | 2 | 2 | 910 | $230,000 | 2025-10-20 |
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 |
|---|---|---|---|---|---|---|
| 472 SE 22nd Dr | single_family | 2 | 2 | 1,057 | $240,000 | — |
| 2215 SE 7th Pl | single_family | 2 | 2 | 1,171 | $340,000 | — |
| 13264 Old Biscayne Dr Apt 405 | townhomes | 2 | 2 | 898 | $214,500 | — |
| 2929 SE 2nd St Unit 7 | townhomes | 2 | 3 | 1,290 | $240,000 | — |
| 15410 SW 284th St Unit 8301 | condos | 2 | 2 | 900 | $176,000 | — |
| 28501 SW 152nd Ave | mobile | 2 | 2 | 3,832 | $39,900 | — |
| 61 NE 13th Ave | single_family | 2 | 2 | 919 | $220,000 | — |
| 230 SE 29th Ave Unit 12 | townhomes | 2 | 3 | 1,290 | $215,000 | — |
10-year hold projection
IRR3.5%
Equity multiple1.57x
Total return (10yr)$70,848
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $267,800 | $10,548 | -$6,632 | $205,745 | $62,055 |
| 2 | $275,834 | $10,917 | -$6,292 | $203,335 | $72,499 |
| 3 | $284,109 | $11,298 | -$5,940 | $200,759 | $83,350 |
| 4 | $292,632 | $11,691 | -$5,576 | $198,007 | $94,625 |
| 5 | $301,411 | $12,098 | -$5,200 | $195,066 | $106,346 |
| 6 | $310,454 | $12,519 | -$4,811 | $191,922 | $118,531 |
| 7 | $319,767 | $12,953 | -$4,409 | $188,563 | $131,204 |
| 8 | $329,360 | $13,402 | -$3,993 | $184,973 | $144,387 |
| 9 | $339,241 | $13,866 | -$3,563 | $181,137 | $158,104 |
| 10 | $349,418 | $14,346 | -$3,118 | $177,037 | $172,381 |
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.