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171 NE 117th St

Miami, FL 33161 · multi_family · For Sale · 120 days on market
Asking price$700,000
4 beds 4 baths 1,765 sqft
Suggested offer$649,459$50,541 above the est. market value of $649,459.
View on Realtor.com →
Listed by Candace Garber · TruDeals Realty Corp
Typemulti_family
Built1965
Price / sqft$397
Est. value (own analysis)$649,459
Rent estimate (building total, own analysis)$4,118/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood3/10moderate$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-05-05
Removed date—
MLSBeachesMLS #B26024455
Coordinates25.88287, -80.19500
Address171 NE 117th St
CityMiami
StateFL
Zip33161
Listing ID5589948642
Sourceus-real-estate-listings, cached 2026-09-01

ZIP market snapshot (33161)

Typical home value (ZHVI)$498,596
Typical rent (ZORI)$2,323/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$700,000
Down payment (20.0%)$140,000
Loan amount$560,000
Closing costs (5.0%)$35,000
Total cash to close$175,000
Income
Rent (estimate)$4,118$49,420
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$49,420
Vacancy rate (assumption) assumption8.0%

$49,420 × 8.0% = $3,954

Effective gross income$3,789$45,466
Operating expenses
Property tax (placeholder 1.9% of price)$1,108$13,300
Insurance (est. scaled by flood & wind risk)$747$8,960
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$206$2,471
Total operating expenses$2,061$24,731
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$45,466
Total operating expenses derived$24,731

$45,466 − $24,731 = $20,735

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

$560,000 amortized at 6.7% over 30 years = $3,599/mo

CapEx reserve (5.0% of GSR)$206$2,471
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$20,735
Annual debt service derived$43,185
Annual CapEx reserve assumption$2,471
Annual PMI assumption$0

($20,735 − $43,185 − $2,471 − $0) ÷ 12 = -$2,077

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$20,735
Purchase price data$700,000

$20,735 ÷ $700,000 = 3.0%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$24,920
Total cash to close derived$175,000

-$24,920 ÷ $175,000 = -14.2%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$20,735
Annual debt service derived$43,185

$20,735 ÷ $43,185 = 0.48

Rent-to-price (1% rule)

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

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$49,420
Purchase price data$700,000

($49,420 ÷ 12) ÷ $700,000 = 0.6%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$700,000
Gross scheduled rent (annual) comp$49,420

$700,000 ÷ $49,420 = 14.2

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$24,731
Effective gross income derived$45,466

$24,731 ÷ $45,466 = 54.4%

Break-even occupancy

Break-Even Occupancy

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

Total operating expenses derived$24,731
Annual debt service derived$43,185
Annual PMI assumption$0
Gross scheduled rent (annual) comp$49,420

($24,731 + $43,185 + $0) ÷ $49,420 = 137.4%

Comparables

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

No active rental listings cached yet for this bedroom count.

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
11003 NE 12th Avemulti_family431,924$722,0002026-08-11
1371 NE 150th Stmulti_family421,500$545,0002026-07-06
1376 NE 111th St # 2multi_family441,749$700,0002026-05-19
11020 NE 10th Avemulti_family421,805$855,0002026-05-15
1490 NE 110th Termulti_family441,584$400,0002026-04-23
1560 NE 130th Stmulti_family421,900$350,0002026-04-15
1296 NE 112th Stmulti_family421,920$805,0002026-03-23
11105 NE 9th Ave # 0multi_family421,690$875,0002026-03-02
1550 NE 118th Termulti_family441,848$680,0002026-02-26
1051 NE 149th Stmulti_family422,765$60,0002025-12-15
1350 NE 146th Stmulti_family442,310$460,0002025-11-17

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.

AddressTypeBedsBathsSqftAsking priceDays on market
10831 NE 2nd Ctmulti_family421,625$750,000—
1216-1218 NE 112th Stmulti_family441,810$975,000—
325 NE 108th Stmulti_family431,705$725,000—
11420 NE 4th Avesingle_family431,803$975,000—
10850 N Bayshore Drsingle_family46—$4,800,000—
1112 NE 111th Stmulti_family431,756$815,000—
134 NE 117th Stsingle_family43—$850,000—
530 NE 130th Stsingle_family43—$719,999—

10-year hold projection

IRR0.6%
Equity multiple1.10x
Total return (10yr)$108,726
YearProperty valueNOICash flowLoan balanceEquity
1$721,000$20,735-$24,920$553,928$167,072
2$742,630$21,481-$24,236$547,440$195,190
3$764,909$22,252-$23,528$540,506$224,403
4$787,856$23,050-$22,796$533,095$254,761
5$811,492$23,874-$22,038$525,176$286,316
6$835,837$24,727-$21,253$516,713$319,124
7$860,912$25,609-$20,441$507,669$353,243
8$886,739$26,521-$19,601$498,004$388,735
9$913,341$27,463-$18,732$487,675$425,667
10$940,741$28,438-$17,833$476,636$464,105
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.