1519 NW 40th St
Miami, FL 33142 · multi_family · For Sale · 148 days on market
Asking price$565,000
4 beds 2 baths 1,959 sqft
Suggested offer$527,576$37,424 above the est. market value of $527,576.
View on Realtor.com →Listed by Miguel Salvat · Compass Florida, LLC.
Typemulti_family
Built1972
Price / sqft$288
Est. value (own analysis)$527,576
Rent estimate (building total, own analysis)$4,917/mo
HOANone
1 / 34
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Statusfor_sale
Listed date2026-04-07
Removed date—
MLSMiamiMLS #A11996417
Coordinates25.81293, -80.22246
Address1519 NW 40th St
CityMiami
StateFL
Zip33142
Listing ID5719529418
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33142)
Typical home value (ZHVI)$430,103
Typical rent (ZORI)$2,350/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 | $565,000 |
| Down payment (20.0%) | $113,000 |
| Loan amount | $452,000 |
| Closing costs (5.0%) | $28,250 |
| Total cash to close | $141,250 |
| Income | |
| Rent (estimate) | $4,917$59,005 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,524$54,285 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $895$10,735 |
| Insurance (placeholder 0.8% of price) | $377$4,520 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $246$2,950 |
| Total operating expenses | $1,517$18,205 |
| 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) | $246$2,950 |
| 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 |
|---|---|---|---|---|---|---|---|
| multi_family | 4 | 2 | 1,686 | $3,400 | 2026-08-24 | — |
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 |
|---|---|---|---|---|---|---|
| 1411 NW 29th St | multi_family | 4 | 1 | 1,580 | $400,000 | 2026-08-06 |
| 3346 NW 34th St | multi_family | 4 | 2 | 1,968 | $530,000 | 2026-07-15 |
| 1498 NW 58th St | multi_family | 4 | 2 | 1,500 | $312,500 | 2026-06-24 |
| 2521 NW 13th Ave | multi_family | 4 | 2 | 2,095 | $480,000 | 2026-05-13 |
| 2336 NW 60th St | multi_family | 4 | 1 | 1,448 | $360,000 | 2026-04-16 |
| 3300 NW 31st Ave | multi_family | 4 | 2 | 1,580 | $265,000 | 2026-04-09 |
| 2490 NW 44th St | multi_family | 4 | 4 | 1,998 | $750,000 | 2026-03-12 |
| 2035 NW 34th St | multi_family | 4 | 1 | 2,106 | $760,000 | 2026-02-09 |
| 4001 NW 15th Ave | multi_family | 4 | 2 | 1,450 | $590,000 | 2026-01-29 |
| 1361 NW 32nd St | multi_family | 4 | 1 | 3,507 | $560,000 | 2026-01-12 |
| 1860 NW 45th St | multi_family | 4 | 2 | 2,112 | $650,000 | 2025-12-23 |
| 1261 NW 24th St | multi_family | 4 | 2 | 1,200 | $560,000 | 2025-12-23 |
| 1901 NW 48th St | multi_family | 4 | 3 | 2,220 | $775,000 | 2025-12-04 |
| 2469 NW 35th St | multi_family | 4 | 4 | 1,890 | $640,000 | 2025-10-07 |
| 2535 NW 34th St | multi_family | 4 | 2 | 1,961 | $520,000 | 2025-09-12 |
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 |
|---|---|---|---|---|---|---|
| 2775 NW 57th St | multi_family | 4 | 4 | 1,202 | $749,900 | — |
| 2385 NW 32nd St | single_family | 4 | 2 | 2,180 | $639,999 | — |
| 1754 NW 56th St | single_family | 4 | 2 | 1,690 | $430,000 | — |
| 3010 NW 32nd St | single_family | 4 | 2 | 1,958 | $630,000 | — |
| 3231 NW 19th Ave | multi_family | 4 | 2 | 1,977 | $625,000 | — |
| 2651 NW 33rd St | multi_family | 4 | 2 | 1,155 | $565,000 | — |
| 2124 NW 27th St | multi_family | 4 | 4 | 1,750 | $780,000 | — |
| 1851 NW 34th St | multi_family | 4 | 2 | 1,458 | $590,000 | — |
10-year hold projection
IRR10.2%
Equity multiple2.59x
Total return (10yr)$298,338
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $581,950 | $36,079 | -$1,727 | $447,099 | $134,851 |
| 2 | $599,409 | $37,253 | -$627 | $441,862 | $157,546 |
| 3 | $617,391 | $38,464 | $508 | $436,265 | $181,125 |
| 4 | $635,912 | $39,713 | $1,680 | $430,284 | $205,628 |
| 5 | $654,990 | $41,003 | $2,890 | $423,892 | $231,098 |
| 6 | $674,640 | $42,333 | $4,139 | $417,061 | $257,578 |
| 7 | $694,879 | $43,706 | $5,429 | $409,762 | $285,117 |
| 8 | $715,725 | $45,123 | $6,760 | $401,960 | $313,765 |
| 9 | $737,197 | $46,585 | $8,134 | $393,623 | $343,573 |
| 10 | $759,313 | $48,093 | $9,553 | $384,714 | $374,599 |
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.