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19900 NE 21st Ct

Miami, FL 33179 · single_family · For Sale · 254 days on market
Asking price$5,700,000
9 beds 10 baths — sqft
Suggested offer$837,500$4,862,500 above the est. market value of $837,500.
View on Realtor.com →
Listed by Adalis Carbo · The Firm Properties, LLC.
Typesingle_family
Built2025
Price / sqft—
Est. value (own analysis)$837,500
Rent estimate (own analysis)$55,000/mo
HOANone
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Neighborhood

Show every detail
Statusfor_sale
Listed date2025-12-22
Removed date—
MLSMiamiMLS #A11934361
Coordinates25.95968, -80.15873
Address19900 NE 21st Ct
CityMiami
StateFL
Zip33179
Listing ID5564360850
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$5,700,000
Down payment (20.0%)$1,140,000
Loan amount$4,560,000
Closing costs (5.0%)$285,000
Total cash to close$1,425,000
Income
Rent (comp-derived)$55,000$660,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$660,000
Vacancy rate (assumption) assumption8.0%

$660,000 × 8.0% = $52,800

Effective gross income$50,600$607,200
Operating expenses
Property tax (placeholder 1.9% of price)$9,025$108,300
Insurance (placeholder 0.8% of price)$3,800$45,600
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$2,750$33,000
Total operating expenses$15,575$186,900
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$607,200
Total operating expenses derived$186,900

$607,200 − $186,900 = $420,300

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$4,560,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$4,560,000 amortized at 6.7% over 30 years = $29,304/mo

CapEx reserve (5.0% of GSR)$2,750$33,000
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$420,300
Annual debt service derived$351,645
Annual CapEx reserve assumption$33,000
Annual PMI assumption$0

($420,300 − $351,645 − $33,000 − $0) ÷ 12 = $2,971

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$420,300
Purchase price data$5,700,000

$420,300 ÷ $5,700,000 = 7.4%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived$35,655
Total cash to close derived$1,425,000

$35,655 ÷ $1,425,000 = 2.5%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$420,300
Annual debt service derived$351,645

$420,300 ÷ $351,645 = 1.20

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$660,000
Purchase price data$5,700,000

($660,000 ÷ 12) ÷ $5,700,000 = 1.0%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$5,700,000
Gross scheduled rent (annual) comp$660,000

$5,700,000 ÷ $660,000 = 8.6

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$186,900
Effective gross income derived$607,200

$186,900 ÷ $607,200 = 30.8%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$186,900
Annual debt service derived$351,645
Annual PMI assumption$0
Gross scheduled rent (annual) comp$660,000

($186,900 + $351,645 + $0) ÷ $660,000 = 81.6%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family985,649$55,0002025-10-20—
single_family984,729$55,0002025-08-13—
single_family995,123$50,0002025-11-20—

2110 NE 197th Ter

Miami, 33179 · rent comp

Bedrooms / bathrooms9 bd / 8 ba
Square footage5,649
Listed2025-10-20
Days on market—

Asking rent: $55,000

View on Zillow →

1960 NE 197th Ter

Miami, 33179 · rent comp

Bedrooms / bathrooms9 bd / 8 ba
Square footage4,729
Listed2025-08-13
Days on market—

Asking rent: $55,000

View on Zillow →

1881 NE 196th Ter

Miami, 33179 · rent comp

Bedrooms / bathrooms9 bd / 9 ba
Square footage5,123
Listed2025-11-20
Days on market—

Asking rent: $50,000

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
2010 NE 196th Tersingle_family32—$1,600,0002026-09-01
2021 NE 212th Stsingle_family553,880$2,600,0002026-08-31
19329 NE 8th Ctsingle_family432,223$850,0002026-08-28
1890 NE 211th Tersingle_family432,148$1,365,0002026-08-25
1940 NE 186th Drsingle_family322,675$1,400,0002026-08-20
1010 NE 204th Tersingle_family332,149$650,1002026-08-13
1111 NE 200th Tersingle_family432,103$656,0002026-08-12
1271 NE 211th Stsingle_family421,673$475,0002026-08-12
21304 NE 19th Ctsingle_family432,148$1,000,0002026-08-11
20800 Highland Lakes Blvdsingle_family322,442$900,0002026-08-06
2101 NE 211th Tersingle_family443,006$1,535,0002026-08-04
1900 NE 210th Stsingle_family442,506$1,175,0002026-08-03
2140 NE 206th Stsingle_family532,287$1,010,0002026-07-31
878 NE 191st Stsingle_family332,124$689,0002026-07-29
21490 Highland Lakes Blvdsingle_family321,845$2,060,0002026-07-27
65 NE 209th Tersingle_family221,735$495,0002026-07-27
20411 NE 7th Plsingle_family321,947$648,0002026-07-24
20515 Highland Lakes Blvdsingle_family321,774$775,0002026-07-24
20730 NE Miami Ctsingle_family321,364$495,0002026-07-22
19411 NE 19th Ctsingle_family321,725$825,0002026-07-15
1030 NE 202nd Tersingle_family221,668$497,0002026-07-09
1850 NE 197th Tersingle_family432,556$1,850,0002026-07-08
1925 NE 208th Tersingle_family322,580$1,454,0002026-06-30
2011 NE 211th Tersingle_family432,811$1,450,0002026-06-29
5638545970single_family321,781$555,0002026-06-26
18340 NE 20th Ctsingle_family311,466$670,0002026-06-26
1941 NE 186th Drsingle_family322,270$1,650,0002026-06-25
20141 NE 15th Avesingle_family321,772$485,0002026-06-25
1961 S Oak Haven Cirsingle_family554,856$2,050,0002026-06-17
1950 NE 195th Drsingle_family322,511$1,500,0002026-06-17
1980 NE 185th Tersingle_family432,289$940,0002026-06-16
901 NE 191st Stsingle_family332,124$740,0002026-06-15
1220 NE 206th Stsingle_family321,166$549,0002026-06-11
1240 NE 214th Stsingle_family421,708$485,0002026-06-10
19720 NE 10th Ctsingle_family431,908$550,0002026-06-08
1915 NE 208th Tersingle_family453,006$1,045,0002026-06-02
1951 NE 194th Drsingle_family432,637$1,250,0002026-06-01
1870 NE 197th Tersingle_family532,837$1,188,0002026-05-27
772 NE 191st Tersingle_family331,936$605,0002026-05-27
2110 NE 198th Tersingle_family533,412$1,651,0002026-05-26
678 NE 191st Tersingle_family432,105$669,0002026-05-19
723 NE 193rd Stsingle_family321,965$620,0002026-05-15
1880 NE 206th Tersingle_family432,422$1,150,0002026-05-15
1846 NE 211th Lnsingle_family422,484$1,340,0002026-05-13
650 NE 193rd Tersingle_family321,808$710,0002026-05-11
1280 NE 211th Tersingle_family321,012$380,0002026-05-08
1915 NE 213th Tersingle_family322,354$1,350,0002026-05-06
220 NE 211th Stsingle_family331,854$505,0002026-05-05
1270 North Drsingle_family541,600$599,0002026-05-04
21241 NE 2nd Avesingle_family321,519$495,0002026-05-02

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.

AddressTypeBedsBathsSqftAsking priceDays on market
20200 NE 14th Avesingle_family97—$1,395,000—
101 NW 68th Termulti_family942,184$1,050,000—
27 NE 60th Termulti_family942,804$1,400,000—

10-year hold projection

IRR13.1%
Equity multiple3.02x
Total return (10yr)$3,619,933
YearProperty valueNOICash flowLoan balanceEquity
1$5,871,000$420,300$35,655$4,510,559$1,360,441
2$6,047,130$433,844$48,373$4,457,724$1,589,406
3$6,228,544$447,817$61,501$4,401,260$1,827,284
4$6,415,400$462,233$75,050$4,340,918$2,074,482
5$6,607,862$477,106$89,035$4,276,433$2,331,429
6$6,806,098$492,451$103,469$4,207,520$2,598,578
7$7,010,281$508,282$118,366$4,133,874$2,876,407
8$7,220,589$524,614$133,742$4,055,171$3,165,419
9$7,437,207$541,463$149,611$3,971,063$3,466,144
10$7,660,323$558,846$165,988$3,881,180$3,779,144
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.