1523 NW 38th St
Miami, FL 33142 · single_family · For Sale · 189 days on market
Asking price$615,000
5 beds 2 baths 1,472 sqft
Suggested offer$432,768$182,232 above the est. market value of $432,768.
View on Realtor.com →Listed by Barclay Belizaire · Keller Williams Eagle Realty
Typesingle_family
Built1925
Price / sqft$418
Est. value (own analysis)$432,768
Rent estimate (own analysis)$5,350/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-02-25
Removed date—
MLSMiamiMLS #A11969960
Coordinates25.81126, -80.22246
Address1523 NW 38th St
CityMiami
StateFL
Zip33142
Listing ID5566031001
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33142)
Typical home value (ZHVI)$430,103
Typical rent (ZORI)$2,350/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 | $615,000 |
| Down payment (20.0%) | $123,000 |
| Loan amount | $492,000 |
| Closing costs (5.0%) | $30,750 |
| Total cash to close | $153,750 |
| Income | |
| Rent (comp-derived) | $5,350$64,200 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,922$59,064 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $974$11,685 |
| Insurance (est. scaled by flood & wind risk) | $800$9,594 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $268$3,210 |
| Total operating expenses | $2,041$24,489 |
| 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) | $268$3,210 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 3 | 1,986 | $12,900 | 2026-08-20 | — | |
| single_family | 5 | 2 | 1,598 | $5,000 | 2026-08-11 | — | |
| single_family | 5 | 2 | 1,729 | $3,950 | 2026-07-10 | — | |
| single_family | 5 | 4 | 1,986 | $6,500 | 2026-07-08 | — | |
| single_family | 5 | 2 | 1,747 | $3,600 | 2026-06-24 | — | |
| single_family | 5 | 3 | 1,462 | $5,000 | 2026-04-29 | — | |
| single_family | 5 | 4 | 1,334 | $5,900 | 2026-07-27 | — | |
| single_family | 5 | 3 | 1,940 | $18,000 | 2026-08-25 | — | |
| single_family | 5 | 2 | 1,974 | $5,000 | — | — | |
| single_family | 5 | 2 | 1,500 | $4,400 | — | — | |
| single_family | 5 | 3 | 1,752 | $5,800 | — | — | |
| single_family | 5 | 2 | 1,898 | $5,700 | 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 |
|---|---|---|---|---|---|---|
| 2142 NW 33rd St | single_family | 5 | 2 | 2,010 | $475,000 | 2026-07-16 |
| 2119 NW 59th St | single_family | 5 | 2 | 1,976 | $342,000 | 2026-07-06 |
| 1385 NW 28th St | single_family | 5 | 4 | 1,666 | $700,000 | 2026-06-18 |
| 6605809400 | single_family | 5 | 2 | 1,032 | $490,000 | 2026-03-23 |
| 5840 NW 31st Ave | single_family | 5 | 2 | 1,955 | $340,000 | 2026-01-09 |
| 1866 NW 47th St | single_family | 5 | 3 | 1,763 | $620,000 | 2025-11-21 |
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 |
|---|---|---|---|---|---|---|
| 4245 NW 24th Ave | multi_family | 5 | 2 | 1,701 | $609,000 | — |
| 1345 NW 25th St | multi_family | 5 | 3 | 2,505 | $565,000 | — |
| 4769 NW 17th Ave | multi_family | 5 | 4 | 2,242 | $625,000 | — |
| 3389 NW 14th Ave | multi_family | 5 | 3 | 2,241 | $995,000 | — |
| 1274 NW 55th Ter | single_family | 5 | 4 | 2,292 | $760,000 | — |
| 2428 NW 28th St | multi_family | 5 | 3 | 1,662 | $649,000 | — |
| 1436 NW 51st Ter | multi_family | 5 | 2 | 1,548 | $598,900 | — |
| 1490/1492 NW 38th St | multi_family | 5 | 3 | 1,840 | $585,000 | — |
10-year hold projection
IRR7.9%
Equity multiple2.25x
Total return (10yr)$272,123
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $633,450 | $34,575 | -$6,576 | $486,666 | $146,784 |
| 2 | $652,454 | $35,735 | -$5,496 | $480,965 | $171,488 |
| 3 | $672,027 | $36,932 | -$4,381 | $474,873 | $197,154 |
| 4 | $692,188 | $38,169 | -$3,229 | $468,363 | $223,825 |
| 5 | $712,954 | $39,446 | -$2,038 | $461,405 | $251,549 |
| 6 | $734,342 | $40,764 | -$808 | $453,970 | $280,372 |
| 7 | $756,372 | $42,126 | $463 | $446,024 | $310,349 |
| 8 | $779,064 | $43,532 | $1,775 | $437,532 | $341,531 |
| 9 | $802,436 | $44,983 | $3,131 | $428,458 | $373,978 |
| 10 | $826,509 | $46,482 | $4,532 | $418,760 | $407,749 |
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.