15051 Royal Oaks Ln Apt 503
North Miami, FL 33181 · condos · For Sale · 14 days on market
Asking price$440,000
3 beds 3 baths 1,801 sqft
Suggested offer$422,876$17,124 above the est. market value of $422,876.
View on Realtor.com →Listed by Diana Tello · Envirotek Realty
Typecondos
Built2007
Price / sqft$244
Est. value (own analysis)$422,876
Rent estimate (own analysis)$5,113/mo
HOA$1,814/mo
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Statusfor_sale
Listed date2026-08-19
Removed date—
MLSMiamiMLS #A12074137
Coordinates25.91441, -80.15187
Address15051 Royal Oaks Ln Apt 503
CityNorth Miami
StateFL
Zip33181
Listing ID5739118647
Sourceus-real-estate-listings, cached 2026-09-02
ZIP market snapshot (33181)
Typical home value (ZHVI)$321,152
Typical rent (ZORI)$2,429/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 | $440,000 |
| Down payment (20.0%) | $88,000 |
| Loan amount | $352,000 |
| Closing costs (5.0%) | $22,000 |
| Total cash to close | $110,000 |
| Income | |
| Rent (comp-derived) | $5,113$61,356 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,704$56,448 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $697$8,360 |
| Insurance (placeholder 0.8% of price) | $293$3,520 |
| HOA dues | $1,814$21,768 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $256$3,068 |
| Total operating expenses | $3,060$36,716 |
| 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) | $256$3,068 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 3 | 3 | 1,801 | $3,500 | 2026-08-28 | — | |
| condos | 3 | 3 | 1,801 | $3,850 | 2026-08-26 | — | |
| condos | 3 | 3 | 1,886 | $3,700 | 2026-06-08 | — | |
| condos | 3 | 3 | 1,886 | $3,850 | 2026-08-19 | — | |
| condos | 3 | 2 | 1,493 | $5,420 | 2026-04-07 | — | |
| condos | 3 | 3 | 1,801 | $3,500 | 2026-06-29 | — | |
| condos | 3 | 3 | 1,801 | $3,975 | 2026-07-27 | — | |
| condos | 3 | 4 | 2,048 | $4,095 | 2026-06-17 | — | |
| condos | 3 | 4 | 2,048 | $4,800 | 2026-08-05 | — | |
| apartment | 3 | 3 | 1,886 | $3,950 | 2026-07-13 | — | |
| apartment | 3 | 4 | 1,967 | $3,999 | 2026-07-16 | — | |
| condos | 3 | 3 | 1,801 | $4,000 | 2026-06-25 | — | |
| condos | 3 | 3 | 1,801 | $4,200 | 2026-05-16 | — | |
| condos | 3 | 3 | 1,801 | $4,000 | — | — | |
| apartment | 3 | 3 | 1,498 | $4,926 | — | — | |
| condos | 3 | 3 | 1,801 | $3,975 | — | — | |
| apartment | 3 | 3 | 1,596 | $5,086 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,078 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,078 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,263 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,293 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,283 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,273 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,283 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,283 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,113 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,113 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,263 | — | — | |
| apartment | 3 | 2 | 1,424 | $5,229 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,283 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,273 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,273 | — | — | |
| apartment | 3 | 3 | 1,596 | $5,394 | — | — | |
| apartment | 3 | 2 | 1,424 | $5,364 | — | — | |
| apartment | 3 | 2 | 1,424 | $5,374 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,303 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,438 | — | — | |
| apartment | 3 | 2 | 1,424 | $5,444 | — | — | |
| apartment | 3 | 2 | 1,493 | $5,338 | — | — | |
| apartment | 3 | 2 | 1,186 | $1,800 | 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 |
|---|---|---|---|---|---|---|
| 11111 Biscayne Blvd Unit 7F | condos | 3 | 4 | 2,791 | $330,000 | 2026-07-02 |
| 11113 Biscayne Blvd Unit 1757 | condos | 3 | 3 | 2,749 | $730,000 | 2026-04-29 |
| 14951 Royal Oaks Ln Apt 2506 | condos | 3 | 3 | 1,801 | $425,000 | 2026-04-02 |
| 11113 Biscayne Blvd Unit 757 | condos | 3 | 3 | 2,749 | $680,000 | 2026-03-31 |
| 14951 Royal Oaks Ln Apt 401 | condos | 3 | 4 | 2,048 | $400,000 | 2026-03-23 |
| 14951 Royal Oaks Ln Apt 2206 | condos | 3 | 3 | 1,801 | $370,000 | 2026-03-20 |
| 14951 Royal Oaks Ln Apt 2009 | condos | 3 | 4 | 2,385 | $560,000 | 2025-12-09 |
| 1800 NE 114th St Apt 503 | condos | 3 | 3 | 2,320 | $535,000 | 2025-10-31 |
| 15051 Royal Oaks Ln Apt 1703 | condos | 3 | 3 | 1,801 | $425,000 | 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 |
|---|---|---|---|---|---|---|
| 2411 Laguna Cir Unit 306 | condos | 3 | 3 | 1,569 | $1,798,000 | — |
| 1800 NE 114th St Apt 508 | condos | 3 | 3 | 1,950 | $290,000 | — |
| 2411 Laguna Cir Unit 701 | condos | 3 | 4 | 2,131 | $2,572,100 | — |
| 11111 Biscayne 2-4c or 427 Blvd Unit Tower | condos | 3 | 3 | 1,674 | $405,000 | — |
| 11113 Biscayne Blvd Unit 558 | condos | 3 | 3 | 2,749 | $899,000 | — |
| 1800 NE 114th St Apt 909 | condos | 3 | 3 | 2,320 | $450,000 | — |
| 1800 NE 114th St Apt 401 | condos | 3 | 3 | 1,950 | $320,000 | — |
| 13501 NE 23rd Ct | townhomes | 3 | 2 | 1,640 | $330,000 | — |
10-year hold projection
IRR4.3%
Equity multiple1.69x
Total return (10yr)$133,674
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $453,200 | $19,732 | -$10,481 | $348,184 | $105,016 |
| 2 | $466,796 | $20,507 | -$9,782 | $344,105 | $122,691 |
| 3 | $480,800 | $21,311 | -$9,057 | $339,746 | $141,054 |
| 4 | $495,224 | $22,143 | -$8,305 | $335,088 | $160,136 |
| 5 | $510,081 | $23,005 | -$7,526 | $330,110 | $179,970 |
| 6 | $525,383 | $23,898 | -$6,718 | $324,791 | $200,592 |
| 7 | $541,145 | $24,822 | -$5,880 | $319,106 | $222,039 |
| 8 | $557,379 | $25,780 | -$5,011 | $313,030 | $244,348 |
| 9 | $574,100 | $26,771 | -$4,111 | $306,538 | $267,562 |
| 10 | $591,323 | $27,798 | -$3,178 | $299,599 | $291,724 |
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.