1251 NE 208th Ter
Miami, FL 33179 · single_family · Pending — under contract · 35 days on market
Asking price$489,900
2 beds 2 baths 1,012 sqft
Suggested offer$288,726$201,174 above the est. market value of $288,726.
View on Realtor.com →Listed by Ibel Martinez · Rejoice Realty Group, Inc.
Typesingle_family
Built1956
Price / sqft$484
Est. value (own analysis)$288,726
Rent estimate (own analysis)$2,250/mo
HOANone
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Statusfor_sale
Listed date2026-07-29
Removed date—
MLSMiamiMLS #A12062045
Coordinates25.96792, -80.17721
Address1251 NE 208th Ter
CityMiami
StateFL
Zip33179
Listing ID5572037635
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 | $489,900 |
| Down payment (20.0%) | $97,980 |
| Loan amount | $391,920 |
| Closing costs (5.0%) | $24,495 |
| Total cash to close | $122,475 |
| Income | |
| Rent (comp-derived) | $2,250$27,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,070$24,840 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $776$9,308 |
| Insurance (placeholder 0.8% of price) | $327$3,919 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $113$1,350 |
| Total operating expenses | $1,215$14,577 |
| 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) | $113$1,350 |
| 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 | 2 | 2 | 1,036 | $1,900 | 2026-09-01 | — | |
| single_family | 2 | 1 | 1,196 | $2,300 | 2026-08-19 | — | |
| single_family | 2 | 1 | 981 | $2,500 | 2026-08-17 | — | |
| single_family | 2 | 1 | 1,300 | $2,200 | 2026-08-13 | — |
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 |
|---|---|---|---|---|---|---|
| 65 NE 209th Ter | single_family | 2 | 2 | 1,735 | $495,000 | 2026-07-27 |
| 1030 NE 202nd Ter | single_family | 2 | 2 | 1,668 | $497,000 | 2026-07-09 |
| 18425 NE 11th Ave | single_family | 2 | 2 | 1,422 | $365,500 | 2026-01-20 |
| 20424 NE 10th Ct | single_family | 2 | 2 | 1,671 | $125,000 | 2026-01-13 |
| 71 NE 206th Ter | single_family | 2 | 1 | 1,125 | $405,000 | 2025-12-15 |
| 9317248954 | single_family | 2 | 2 | 1,580 | $320,000 | 2025-11-12 |
| 19915 NE 10th Place Way | single_family | 2 | 2 | 1,705 | $519,000 | 2025-11-04 |
| 1758 NE 183rd St | single_family | 2 | 2 | 696 | $430,000 | 2025-10-28 |
| 55 NE 212th St | single_family | 2 | 1 | 1,839 | $520,000 | 2025-10-07 |
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 |
|---|---|---|---|---|---|---|
| 1670 NE 191st St Unit 109-3 | condos | 2 | 2 | 1,315 | $189,000 | — |
| 509 NE 199th Ln Unit 3A | condo_townhome_rowhome_coop | 2 | 2 | 1,580 | $349,000 | — |
| 341 Ives Dairy Rd Unit 341-06 | condos | 2 | 3 | 1,283 | $314,999 | — |
| 20840 San Simeon Way Apt 609 | condos | 2 | 2 | 1,596 | $229,000 | — |
| 20800 NE 8th Ct Unit 105-17 | condos | 2 | 2 | 956 | $195,000 | — |
| 1351 NE Miami Gardens Dr Apt 626E | condos | 2 | 2 | 1,140 | $235,000 | — |
| 20860 San Simeon Way Unit 205-6 | condos | 2 | 2 | 1,586 | $265,500 | — |
| 423 NE 210th Cir Ter Unit 104-25 | condos | 2 | 2 | 1,060 | $275,000 | — |
10-year hold projection
IRR-1.6%
Equity multiple0.73x
Total return (10yr)$30,920
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $504,597 | $10,263 | -$21,310 | $387,671 | $116,926 |
| 2 | $519,735 | $10,643 | -$20,963 | $383,130 | $136,605 |
| 3 | $535,327 | $11,037 | -$20,604 | $378,277 | $157,050 |
| 4 | $551,387 | $11,445 | -$20,232 | $373,091 | $178,296 |
| 5 | $567,928 | $11,867 | -$19,846 | $367,548 | $200,380 |
| 6 | $584,966 | $12,303 | -$19,447 | $361,626 | $223,341 |
| 7 | $602,515 | $12,755 | -$19,033 | $355,296 | $247,219 |
| 8 | $620,591 | $13,222 | -$18,605 | $348,532 | $272,059 |
| 9 | $639,208 | $13,706 | -$18,162 | $341,303 | $297,905 |
| 10 | $658,385 | $14,206 | -$17,703 | $333,578 | $324,807 |
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.