788 NE 23rd St Unit 3801
Miami, FL 33137 · condos · For Sale · 161 days on market
Asking price$5,775,000
5 beds 6 baths 3,966 sqft
Suggested offer$2,374,484$3,400,516 above the est. market value of $2,374,484.
View on Realtor.com →Listed by Sophia Howard · Coldwell Banker Realty
Typecondos
Built2021
Price / sqft$1456
Est. value (own analysis)$2,374,484
Rent estimate (own analysis)$29,950/mo
HOA$6,535/mo
1 / 87
Show every detail
Statusfor_sale
Listed date2026-03-25
Removed date—
MLSMiamiMLS #A11987286
Coordinates25.79902, -80.18584
Address788 NE 23rd St Unit 3801
CityMiami
StateFL
Zip33137
Listing ID5606111940
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $5,775,000 |
| Down payment (20.0%) | $1,155,000 |
| Loan amount | $4,620,000 |
| Closing costs (5.0%) | $288,750 |
| Total cash to close | $1,443,750 |
| Income | |
| Rent (comp-derived) | $29,950$359,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,554$330,648 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $9,144$109,725 |
| Insurance (placeholder 0.8% of price) | $3,850$46,200 |
| HOA dues | $6,535$78,420 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,498$17,970 |
| Total operating expenses | $21,026$252,315 |
| 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) | $1,498$17,970 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 5 | 3 | 4,344 | $4,150 | 2026-08-13 | — | |
| condos | 5 | 6 | 3,575 | $39,500 | 2026-08-05 | — | |
| condos | 5 | 6 | 3,978 | $45,000 | 2026-06-29 | — | |
| condos | 5 | 7 | 3,608 | $18,000 | 2026-06-08 | — | |
| condos | 5 | 5 | 3,420 | $14,800 | 2026-07-30 | — | |
| condos | 5 | 6 | 3,004 | $12,550 | 2026-04-15 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-08-31 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-11 | — | |
| condos | 5 | 6 | 3,663 | $45,000 | 2026-04-10 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-09-02 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-12 | — |
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.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 700 NE 24th St Unit 2206 | condos | 2 | 3 | 1,738 | $1,535,000 | 2026-08-31 |
| 2020 N Bayshore Dr Unit 103 | condos | 2 | 2 | 1,637 | $823,000 | 2026-08-31 |
| 700 NE 24th St Unit 1806 | condos | 2 | 3 | 1,545 | $1,540,000 | 2026-08-31 |
| 3301 NE 1st Ave Apt L0304 | condos | 1 | 2 | 711 | $385,000 | 2026-08-27 |
| 3301 NE 1st Ave Apt M0503 | condos | 1 | 2 | 1,328 | $582,000 | 2026-08-26 |
| 501 NE 31st St Unit 2903 | condos | 1 | 2 | 662 | $440,000 | 2026-08-24 |
| 665 NE 25th St Apt 802 | condos | 2 | 3 | 1,331 | $770,000 | 2026-08-24 |
| 2900 NE 7th Ave Unit 504 | condos | 1 | 2 | 1,029 | $699,510 | 2026-08-24 |
| 350 NE 24th St Apt 814 | condos | 1 | 1 | 679 | $307,500 | 2026-08-21 |
| 90 NE 32nd St Unit 213 | condos | 0 | 1 | 462 | $525,000 | 2026-08-18 |
| 481 NE 29th St Unit 604 | condos | 2 | 2 | 837 | $450,000 | 2026-08-18 |
| 460 NE 28th St Apt 1602 | condos | 1 | 1 | 854 | $530,000 | 2026-08-17 |
| 350 NE 24th St Apt 1109 | condos | 2 | 2 | 1,020 | $465,000 | 2026-08-14 |
| 501 NE 31st St Unit 1709 | condos | 2 | 2 | 944 | $540,000 | 2026-08-14 |
| 2001 Biscayne Blvd Apt 2306 | condos | 1 | 1 | 706 | $352,000 | 2026-08-13 |
| 700 NE 25th St Apt 2002 | condos | 2 | 2 | 1,234 | $707,500 | 2026-08-12 |
| 3470 E Coast Ave Apt H1714 | condos | 2 | 3 | 1,088 | $650,000 | 2026-08-10 |
| 3301 NE 1st Ave Apt H2405 | condos | 1 | 2 | 761 | $363,000 | 2026-08-10 |
| 2200 NE 4th Ave Apt 1002 | condos | 2 | 2 | 950 | $397,000 | 2026-08-07 |
| 700 NE 25th St Apt 1003 | condos | 2 | 2 | 1,382 | $700,000 | 2026-08-06 |
| 321 NE 26th St Unit 802 | condos | 1 | 1 | 560 | $336,000 | 2026-08-06 |
| 601 NE 36th St Apt 2908 | condos | 1 | 2 | 761 | $490,000 | 2026-08-03 |
| 700 NE 24th St Unit 5401 | condos | 5 | 6 | — | $2,750,000 | 2026-08-01 |
| 3301 NE 1st Ave Apt L0302 | condos | 1 | 2 | 711 | $370,000 | 2026-07-31 |
| 460 NE 28th St Apt 2405 | condos | 2 | 2 | 1,143 | $740,000 | 2026-07-31 |
| 2000 N Bayshore Dr Apt 1402 | condos | 3 | 2 | 1,332 | $535,000 | 2026-07-31 |
| 2900 NE 7th Ave Unit 906 | condos | 2 | 2 | 912 | $740,000 | 2026-07-30 |
| 700 NE 24th St Unit 3201 | condos | 4 | 6 | 2,686 | $2,800,000 | 2026-07-30 |
| 2020 N Bayshore Dr Apt 1204 | condos | 2 | 2 | 1,135 | $880,000 | 2026-07-27 |
| 3131 NE 7th Ave Unit 304 | condos | 3 | 4 | 1,526 | $1,025,000 | 2026-07-24 |
| 650 NE 32nd St Unit 2201 | condos | 3 | 4 | 1,646 | $1,390,000 | 2026-07-24 |
| 3131 NE 7th Ave Unit 3605 | condos | 2 | 2 | 1,088 | $1,133,000 | 2026-07-23 |
| 121 NE 34th St Unit 2311 | condos | 1 | 1 | 612 | $430,000 | 2026-07-22 |
| 600 NE 27th St Apt 2304 | condos | 3 | 3 | 1,584 | $845,000 | 2026-07-15 |
| 700 NE 24th St Unit 4801 | condos | 4 | 6 | 2,686 | $2,750,000 | 2026-07-14 |
| 480 NE 31st St Unit 3404 | condos | 2 | 3 | 1,186 | $930,000 | 2026-07-13 |
| 3451 NE 1st Ave Apt M0706 | condos | 2 | 2 | 1,072 | $615,000 | 2026-07-13 |
| 480 NE 31st St Unit 3007 | condos | 3 | 3 | 1,649 | $1,325,000 | 2026-07-10 |
| 700 NE 24th St Unit 3606 | condos | 2 | 3 | — | $1,525,000 | 2026-07-10 |
| 3470 E Coast Ave Apt H0603 | condos | 1 | 1 | 664 | $299,000 | 2026-07-09 |
| 3470 E Coast Ave Apt H2403 | condos | 1 | 2 | 735 | $435,000 | 2026-07-09 |
| 601 NE 27th St Apt 1202 | condos | 2 | 2 | 1,226 | $625,000 | 2026-07-08 |
| 2275 Biscayne Blvd Apt 504 | condos | 2 | 2 | 1,265 | $400,000 | 2026-07-08 |
| 700 NE 24th St Unit 2402 | condos | 2 | 3 | 1,542 | $1,490,000 | 2026-07-06 |
| 700 NE 26th Ter Unit 2205 | condos | 2 | 2 | 955 | $995,000 | 2026-07-06 |
| 3470 E Coast Ave Apt H0704 | condos | 2 | 2 | 1,242 | $730,000 | 2026-07-02 |
| 121 NE 34th St Unit 1416 | condos | 2 | 2 | 864 | $585,000 | 2026-07-01 |
| 2000 N Bayshore Dr Apt 307 | condos | 2 | 2 | 988 | $395,000 | 2026-06-29 |
| 3900 Biscayne Blvd Unit N1011 | condos | 1 | 1 | 636 | $465,000 | 2026-06-29 |
| 2900 NE 7th Ave Unit 3701 | condos | 2 | 3 | 1,060 | $800,000 | 2026-06-26 |
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 |
|---|---|---|---|---|---|---|
| 3131 NE 7th Ave Unit 5003 | condos | 5 | 6 | 2,887 | $4,150,000 | — |
| 700 NE 24th St Unit 6003 | condos | 5 | 6 | 5,010 | $7,695,000 | — |
| 700 NE 26th Ter Ph 2 | condos | 5 | 7 | 6,834 | $6,500,000 | — |
| 547 NE 57th St | single_family | 5 | 6 | 4,658 | $6,380,000 | — |
| 5261 NE 5th Ave | single_family | 5 | 6 | 4,142 | $5,950,000 | — |
| 460 NE 28th St Apt 4002 | condos | 5 | 4 | 2,248 | $2,175,000 | — |
| 680 Buttonwood Ln | single_family | 5 | 6 | 3,645 | $10,800,000 | — |
| 280 NE 48th Ter | single_family | 5 | 3 | 1,682 | $1,550,000 | — |
10-year hold projection
IRR-3.7%
Equity multiple0.39x
Total return (10yr)-$126,453
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,948,250 | $78,333 | -$295,909 | $4,569,909 | $1,378,341 |
| 2 | $6,126,698 | $81,945 | -$292,747 | $4,516,378 | $1,610,319 |
| 3 | $6,310,498 | $85,696 | -$289,456 | $4,459,171 | $1,851,327 |
| 4 | $6,499,813 | $89,592 | -$286,032 | $4,398,036 | $2,101,777 |
| 5 | $6,694,808 | $93,639 | -$282,469 | $4,332,703 | $2,362,105 |
| 6 | $6,895,652 | $97,840 | -$278,763 | $4,262,883 | $2,632,769 |
| 7 | $7,102,522 | $102,203 | -$274,909 | $4,188,268 | $2,914,254 |
| 8 | $7,315,597 | $106,732 | -$270,901 | $4,108,529 | $3,207,068 |
| 9 | $7,535,065 | $111,434 | -$266,733 | $4,023,315 | $3,511,750 |
| 10 | $7,761,117 | $116,314 | -$262,401 | $3,932,249 | $3,828,868 |
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.