12040 SW 215th St
Miami, FL 33177 · multi_family · For Sale · 307 days on market
Asking price$785,000
6 beds 4 baths 2,400 sqft
Suggested offer$741,624$43,376 above the est. market value of $741,624.
View on Realtor.com →Listed by Kristina Rivera · Miami New Realty
Typemulti_family
Built2006
Price / sqft$327
Est. value (own analysis)$741,624
Rent estimate (building total, own analysis)$5,592/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood7/10severe$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2025-10-30
Removed date—
MLSMiamiMLS #A11904247
Coordinates25.56671, -80.38753
Address12040 SW 215th St
CityMiami
StateFL
Zip33177
Listing ID5697071169
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33177)
Typical home value (ZHVI)$574,510
Typical rent (ZORI)$2,784/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 | $785,000 |
| Down payment (20.0%) | $157,000 |
| Loan amount | $628,000 |
| Closing costs (5.0%) | $39,250 |
| Total cash to close | $196,250 |
| Income | |
| Rent (estimate) | $5,592$67,104 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,145$61,736 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,243$14,915 |
| Insurance (est. scaled by flood & wind risk) | $1,021$12,246 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $280$3,355 |
| Total operating expenses | $2,543$30,516 |
| 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) | $280$3,355 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 12047 12049 Sw 213th St | multi_family | — | — | 2,964 | $880,000 | 2026-04-13 |
| 21226 SW 119th Ave | multi_family | 3 | 3 | 2,550 | $735,000 | 2026-04-07 |
| 11980 SW 213th St | multi_family | 6 | 4 | 2,220 | $825,000 | 2026-03-17 |
| 21210 SW 119th Ave | multi_family | 6 | 4 | 2,320 | $745,000 | 2025-12-04 |
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 |
|---|---|---|---|---|---|---|
| 11941 SW 200th St | single_family | 6 | 3 | 1,764 | $680,000 | — |
| SW 127th Ave & SW 212th St | single_family | 6 | 3 | 3,041 | $854,990 | — |
| 21240 SW 126th Ct | single_family | 6 | 3 | 3,041 | $869,990 | — |
| 21344 SW 126 Ct | single_family | 6 | 3 | 3,041 | $879,990 | — |
| 19727 SW 118th Pl | single_family | 6 | 3 | 2,243 | $749,000 | — |
| 11911 SW 213th St | multi_family | 6 | 4 | 2,029 | $799,000 | — |
10-year hold projection
IRR3.3%
Equity multiple1.53x
Total return (10yr)$207,434
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $808,550 | $31,219 | -$20,564 | $621,191 | $187,359 |
| 2 | $832,807 | $32,309 | -$19,559 | $613,915 | $218,892 |
| 3 | $857,791 | $33,434 | -$18,519 | $606,138 | $251,652 |
| 4 | $883,524 | $34,598 | -$17,444 | $597,828 | $285,696 |
| 5 | $910,030 | $35,800 | -$16,332 | $588,947 | $321,083 |
| 6 | $937,331 | $37,042 | -$15,182 | $579,456 | $357,875 |
| 7 | $965,451 | $38,326 | -$13,993 | $569,314 | $396,137 |
| 8 | $994,415 | $39,653 | -$12,764 | $558,475 | $435,940 |
| 9 | $1,024,247 | $41,024 | -$11,493 | $546,892 | $477,355 |
| 10 | $1,054,974 | $42,441 | -$10,178 | $534,513 | $520,461 |
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.