247 NW 51st Ave
Miami, FL 33126 · multi_family · For Sale · 85 days on market
Asking price$875,000
5 beds 3 baths 1,998 sqft
Suggested offer$543,673$331,327 above the est. market value of $543,673.
View on Realtor.com →Listed by Millie Doyle · Keyes - Sunset
Typemulti_family
Built1966
Price / sqft$438
Est. value (own analysis)$543,673
Rent estimate (building total, own analysis)$5,435/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-06-10
Removed date—
MLSMiamiMLS #A12033584
Coordinates25.77437, -80.27768
Address247 NW 51st Ave
CityMiami
StateFL
Zip33126
Listing ID5818061087
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33126)
Typical home value (ZHVI)$303,717
Typical rent (ZORI)$2,370/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 | $875,000 |
| Down payment (20.0%) | $175,000 |
| Loan amount | $700,000 |
| Closing costs (5.0%) | $43,750 |
| Total cash to close | $218,750 |
| Income | |
| Rent (estimate) | $5,435$65,215 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,000$59,998 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,385$16,625 |
| Insurance (est. scaled by flood & wind risk) | $933$11,200 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $272$3,261 |
| Total operating expenses | $2,590$31,086 |
| 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) | $272$3,261 |
| 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.
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 |
|---|---|---|---|---|---|---|
| 4736 NW Flagler Ter | multi_family | 5 | 3 | 1,920 | $575,000 | 2026-08-11 |
| 4335 NW 3rd St | multi_family | 5 | 2 | 2,509 | $285,000 | 2026-05-29 |
| 214 NW 55th Ct | multi_family | 5 | 3 | 2,352 | $640,000 | 2026-05-12 |
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 |
|---|---|---|---|---|---|---|
| 470 NW 52nd Ave | multi_family | 5 | 4 | 2,299 | $775,000 | — |
| 3801 NW 2nd St | single_family | 5 | 4 | 1,130 | $555,000 | — |
| 8657 NW 2nd St | single_family | 5 | 3 | 1,585 | $757,000 | — |
| 4850 NW 6th St | multi_family | 5 | 4 | 2,872 | $799,000 | — |
10-year hold projection
IRR1.5%
Equity multiple1.25x
Total return (10yr)$168,333
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $901,250 | $28,912 | -$28,330 | $692,410 | $208,840 |
| 2 | $928,288 | $29,935 | -$27,388 | $684,300 | $243,988 |
| 3 | $956,136 | $30,992 | -$26,415 | $675,632 | $280,504 |
| 4 | $984,820 | $32,085 | -$25,407 | $666,369 | $318,451 |
| 5 | $1,014,365 | $33,215 | -$24,365 | $656,470 | $357,895 |
| 6 | $1,044,796 | $34,383 | -$23,287 | $645,891 | $398,905 |
| 7 | $1,076,140 | $35,590 | -$22,172 | $634,586 | $441,554 |
| 8 | $1,108,424 | $36,838 | -$21,018 | $622,504 | $485,920 |
| 9 | $1,141,677 | $38,128 | -$19,825 | $609,593 | $532,084 |
| 10 | $1,175,927 | $39,461 | -$18,592 | $595,795 | $580,132 |
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.