88 NW 18th Ave
Miami, FL 33125 · multi_family · Pending — under contract · 57 days on market
Asking price$449,999
2 beds 2 baths 1,190 sqft
Suggested offer$282,712$167,287 above the est. market value of $282,712.
View on Realtor.com →Listed by C Glansen, Broker · Flatfee.Com
Typemulti_family
Built1938
Price / sqft$378
Est. value (own analysis)$282,712
Rent estimate (building total, own analysis)$3,403/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeAir2/10MinorFlood1/10minimal$Wildfire1/10Minimal
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Statusfor_sale
Listed date2026-07-07
Removed date—
MLSBeachesMLS #B26049663
Coordinates25.77436, -80.22511
Address88 NW 18th Ave
CityMiami
StateFL
Zip33125
Listing ID5616544023
Sourceus-real-estate-listings, cached 2026-08-27
ZIP market snapshot (33125)
Typical home value (ZHVI)$466,681
Typical rent (ZORI)$2,360/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 | $449,999 |
| Down payment (20.0%) | $90,000 |
| Loan amount | $359,999 |
| Closing costs (5.0%) | $22,500 |
| Total cash to close | $112,500 |
| Income | |
| Rent (estimate) | $3,403$40,841 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,131$37,574 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $713$8,550 |
| Insurance (est. scaled by flood & wind risk) | $450$5,400 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $170$2,042 |
| Total operating expenses | $1,333$15,992 |
| 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) | $170$2,042 |
| 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
Same ZIP. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| multi_family | 2 | 1 | — | $2,300 | — | — | |
| multi_family | 2 | 3 | 950 | $2,800 | — | — |
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 |
|---|---|---|---|---|---|---|
| 601 NW 23rd Ct | multi_family | 2 | 2 | 1,294 | $500,000 | 2026-03-10 |
| 2402 NW 11th St | multi_family | 2 | 2 | 1,141 | $226,300 | 2025-11-21 |
| 823 NW 22nd Ct | multi_family | 2 | 2 | 1,368 | $325,000 | 2025-09-22 |
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 |
|---|---|---|---|---|---|---|
| 1871 NW S River Dr Unit A03 | condos | 2 | 2 | 1,026 | $340,000 | — |
| 1236 NW 5th St | single_family | 2 | 1 | 930 | $1,050,000 | — |
| 1861 NW S River Dr Unit 1003 | condos | 2 | 2 | 935 | $368,000 | — |
| 3151 NW Flagler Ter | single_family | 2 | 1 | 1,122 | $625,000 | — |
| 3640 NW 9th St Apt 201 | condos | 2 | 1 | 748 | $260,000 | — |
| 1800 NW 19th St Apt 2 | condos | 2 | 1 | 650 | $199,999 | — |
| single_family | 2 | 1 | 828 | $525,000 | — | |
| 1861 NW S River Dr Unit 1404 | condos | 2 | 2 | 948 | $399,999 | — |
10-year hold projection
IRR5.6%
Equity multiple1.89x
Total return (10yr)$159,435
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $463,499 | $21,582 | -$8,222 | $356,096 | $107,403 |
| 2 | $477,404 | $22,309 | -$7,546 | $351,925 | $125,479 |
| 3 | $491,726 | $23,060 | -$6,847 | $347,467 | $144,259 |
| 4 | $506,478 | $23,836 | -$6,124 | $342,703 | $163,774 |
| 5 | $521,672 | $24,637 | -$5,378 | $337,612 | $184,060 |
| 6 | $537,322 | $25,465 | -$4,607 | $332,172 | $205,150 |
| 7 | $553,442 | $26,319 | -$3,811 | $326,358 | $227,084 |
| 8 | $570,045 | $27,201 | -$2,988 | $320,145 | $249,901 |
| 9 | $587,147 | $28,112 | -$2,137 | $313,505 | $273,642 |
| 10 | $604,761 | $29,053 | -$1,259 | $306,409 | $298,353 |
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.