16490 SW 244th St
Homestead, FL 33031 · single_family · For Sale · 369 days on market
Asking price$1,999,999
5 beds 4 baths 3,614 sqft
Suggested offer$950,121$1,049,878 above the est. market value of $950,121.
View on Realtor.com →Listed by Gustavo Quintanilla · GQ Real Estate Services Inc
Typesingle_family
Built1981
Price / sqft$553
Est. value (own analysis)$950,121
Rent estimate (own analysis)$6,990/mo
HOANone
1 / 32
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Statusfor_sale
Listed date2025-08-30
Removed date—
MLSMiamiMLS #A11869344
Coordinates25.53882, -80.45922
Address16490 SW 244th St
CityHomestead
StateFL
Zip33031
Listing ID5802869180
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33031)
Typical home value (ZHVI)$909,055
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 | $1,999,999 |
| Down payment (20.0%) | $400,000 |
| Loan amount | $1,599,999 |
| Closing costs (5.0%) | $100,000 |
| Total cash to close | $500,000 |
| Income | |
| Rent (comp-derived) | $6,990$83,880 |
| Vacancy loss (8.0%) | |
| Effective gross income | $6,431$77,170 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,167$38,000 |
| Insurance (placeholder 0.8% of price) | $1,333$16,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $350$4,194 |
| Total operating expenses | $4,850$58,194 |
| 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) | $350$4,194 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 4 | 3,391 | $5,000 | 2026-04-27 | — | |
| single_family | 5 | 3 | 2,863 | $6,990 | 2026-07-10 | — | |
| single_family | 5 | 3 | 2,863 | $6,990 | — | — |
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 |
|---|---|---|---|---|---|---|
| 17540 SW 254th St | single_family | 5 | 4 | — | $760,000 | 2026-08-20 |
| 24480 SW 209th Pl | single_family | 5 | 4 | 3,424 | $1,597,000 | 2026-08-20 |
| 27800 SW 182nd Ave | single_family | 5 | 5 | 4,066 | $1,725,000 | 2026-08-12 |
| 27701 SW 162nd Ct | single_family | 5 | 3 | 2,282 | $565,000 | 2026-07-23 |
| 18760 SW 238th St | single_family | 5 | 4 | 2,972 | $1,020,000 | 2026-06-29 |
| 23621 SW 167th Ave | single_family | 5 | 3 | 4,189 | $1,000,000 | 2026-06-10 |
| 23840 SW 209th Pl | single_family | 5 | 4 | 3,374 | $1,495,000 | 2026-06-09 |
| 27339 SW 160th Ave | single_family | 5 | 4 | 2,838 | $817,300 | 2026-03-12 |
| 27511 SW 160th Ave | single_family | 5 | 4 | 3,456 | $735,100 | 2026-03-12 |
| 27441 SW 160th Ave | single_family | 5 | 4 | 3,456 | $843,000 | 2026-03-12 |
| 27440 SW 160th Ave | single_family | 5 | 4 | 3,456 | $746,600 | 2026-03-12 |
| 27373 SW 159th Pl | single_family | 5 | 4 | 2,838 | $777,300 | 2026-03-12 |
| 21820 SW 254th St | single_family | 5 | 3 | 4,844 | $1,200,000 | 2026-02-20 |
| 27510 SW 170th Ave | single_family | 5 | 6 | 4,000 | $1,800,000 | 2026-02-11 |
| 16625 SW 236th St | single_family | 5 | 4 | 2,088 | $800,000 | 2026-02-05 |
| 23600 SW 212th Ave | single_family | 5 | 3 | 3,198 | $1,300,000 | 2026-01-30 |
| 20925 SW 248th St | single_family | 5 | 2 | 2,657 | $1,180,000 | 2026-01-14 |
| 27520 SW 161st Ct | single_family | 5 | 4 | 3,456 | $739,400 | 2025-12-11 |
| 27301 SW 161st Ave | single_family | 5 | 4 | 2,838 | $734,300 | 2025-12-11 |
| 27567 SW 161st Ct | single_family | 5 | 4 | 3,456 | $698,400 | 2025-12-11 |
| 27342 SW 161st Ct | single_family | 5 | 4 | 2,838 | $666,300 | 2025-12-10 |
| 27443 SW 161st Ct | single_family | 5 | 4 | 3,456 | $709,900 | 2025-12-10 |
| 27235 SW 159th Pl | single_family | 5 | 4 | 2,838 | $750,900 | 2025-12-05 |
| 27564 SW 160th Ave | single_family | 5 | 4 | 3,456 | $725,100 | 2025-12-05 |
| 27303 SW 160th Ave | single_family | 5 | 4 | 2,838 | $765,000 | 2025-12-05 |
| 27407 SW 161st Ave | single_family | 5 | 4 | 3,456 | $805,000 | 2025-12-05 |
| 27375 SW 160th Ave | single_family | 5 | 3 | 2,838 | $762,300 | 2025-12-05 |
| 21059 SW 238th St | single_family | 5 | 4 | 3,827 | $1,450,000 | 2025-11-17 |
| 24301 SW 192nd Ave | single_family | 5 | 3 | 3,018 | $1,650,000 | 2025-11-10 |
| 27471 SW 161st Ave | single_family | 5 | 4 | 3,456 | $688,000 | 2025-11-07 |
| 27373 SW 161st Ave | single_family | 5 | 4 | 2,838 | $741,300 | 2025-11-07 |
| 27300 SW 161st Ave | single_family | 5 | 4 | 2,838 | $724,000 | 2025-11-05 |
| 27341 SW 161st Ct | single_family | 5 | 4 | 2,838 | $779,900 | 2025-11-05 |
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 |
|---|---|---|---|---|---|---|
| 27307 SW 159th Ct | single_family | 5 | 4 | 3,468 | $859,390 | — |
| 27372 SW 159th Ct | single_family | 5 | 5 | 2,806 | $829,990 | — |
| 27411 SW 161 Ct | single_family | 5 | 4 | 2,806 | $809,990 | — |
| 27411 SW 161 Ct | single_family | 5 | 4 | 3,468 | $850,990 | — |
| 27370 SW 159th Ave | single_family | 5 | 5 | — | $829,990 | — |
| 24080 SW 212th Ave | single_family | 5 | 5 | — | $799,000 | — |
| 15720 SW 252nd St | single_family | 5 | 4 | 3,095 | $1,350,000 | — |
| 24225 SW 198th Ave | single_family | 5 | 4 | 2,722 | $1,100,000 | — |
10-year hold projection
IRR-4.6%
Equity multiple0.23x
Total return (10yr)-$122,121
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,059,999 | $18,976 | -$108,603 | $1,582,652 | $477,347 |
| 2 | $2,121,799 | $19,836 | -$107,847 | $1,564,113 | $557,686 |
| 3 | $2,185,453 | $20,729 | -$107,061 | $1,544,301 | $641,152 |
| 4 | $2,251,016 | $21,657 | -$106,244 | $1,523,128 | $727,888 |
| 5 | $2,318,547 | $22,620 | -$105,394 | $1,500,502 | $818,045 |
| 6 | $2,388,103 | $23,620 | -$104,510 | $1,476,322 | $911,782 |
| 7 | $2,459,747 | $24,657 | -$103,591 | $1,450,481 | $1,009,265 |
| 8 | $2,533,539 | $25,735 | -$102,635 | $1,422,866 | $1,110,673 |
| 9 | $2,609,545 | $26,852 | -$101,642 | $1,393,354 | $1,216,191 |
| 10 | $2,687,831 | $28,013 | -$100,610 | $1,361,816 | $1,326,015 |
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.