288 Palm Ave
Miami Beach, FL 33139 · single_family · For Sale · 12 days on market
Asking price$4,250,000
3 beds 3 baths 2,022 sqft
Suggested offer$3,162,105$1,087,895 above the est. market value of $3,162,105.
View on Realtor.com →Listed by Maurice Boschetti · COMPASS
Typesingle_family
Built2020
Price / sqft$2102
Est. value (own analysis)$3,162,105
Rent estimate (own analysis)$9,990/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-21
Removed date—
MLSMiamiMLS #A12075529
Coordinates25.78162, -80.16720
Address288 Palm Ave
CityMiami Beach
StateFL
Zip33139
Listing ID5853603380
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $4,250,000 |
| Down payment (20.0%) | $850,000 |
| Loan amount | $3,400,000 |
| Closing costs (5.0%) | $212,500 |
| Total cash to close | $1,062,500 |
| Income | |
| Rent (comp-derived) | $9,990$119,880 |
| Vacancy loss (8.0%) | |
| Effective gross income | $9,191$110,290 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,729$80,750 |
| Insurance (est. scaled by flood & wind risk) | $6,233$74,800 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $500$5,994 |
| Total operating expenses | $13,462$161,544 |
| 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) | $500$5,994 |
| 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 | 3 | 2 | 1,512 | $5,500 | 2026-08-02 | — | |
| single_family | 3 | 2 | 1,534 | $7,000 | 2026-06-12 | — | |
| single_family | 3 | 3 | 2,027 | $17,000 | 2026-07-31 | — | |
| single_family | 3 | 3 | 2,022 | $18,950 | 2026-07-16 | — | |
| single_family | 3 | 3 | 1,798 | $9,990 | — | — | |
| single_family | 3 | 2 | 1,962 | $7,600 | — | — | |
| single_family | 3 | 4 | 2,229 | $16,000 | — | — |
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 |
|---|---|---|---|---|---|---|
| 830 E Dilido Dr | single_family | 3 | 2 | 2,005 | $2,286,415 | 2026-08-21 |
| 1729 Lenox Ave | single_family | 3 | 2 | 2,170 | $2,650,000 | 2026-08-19 |
| 244 W San Marino Dr | single_family | 3 | 3 | 2,732 | $11,926,300 | 2026-06-16 |
| 1443 Lenox Ave | single_family | 3 | 2 | 1,592 | $2,385,000 | 2026-06-12 |
| 302 W San Marino Dr | single_family | 3 | 3 | 3,178 | $11,300,000 | 2026-05-26 |
| 1030 N Venetian Dr | single_family | 3 | 5 | 2,807 | $3,100,000 | 2026-05-05 |
| 1315 Lenox Ave | single_family | 3 | 2 | 2,378 | $3,550,000 | 2026-04-29 |
| 440 E Rivo Alto Dr | single_family | 3 | 2 | 3,522 | $6,500,000 | 2026-04-27 |
| 1011 N Venetian Dr | single_family | 3 | 3 | 3,671 | $10,800,000 | 2026-04-14 |
| 114 1st Rivo Alto Ter | single_family | 3 | 3 | 2,003 | $3,264,044 | 2026-02-13 |
| 1315 N Venetian Way | single_family | 3 | 2 | 3,616 | $8,100,000 | 2026-01-12 |
| 114 2nd Dilido Ter | single_family | 3 | 4 | 2,120 | $2,350,000 | 2026-01-09 |
| 1339 14th Ter | single_family | 3 | 2 | 1,484 | $1,675,000 | 2025-11-05 |
| 1111 N Venetian Dr | single_family | 3 | 5 | 3,868 | $10,750,000 | 2025-10-31 |
| 1234 13th St | single_family | 3 | 2 | 1,618 | $20,000,000 | 2025-09-08 |
| 800 E Dilido Dr | single_family | 3 | 3 | 2,117 | $3,000,000 | 2025-09-04 |
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 |
|---|---|---|---|---|---|---|
| 1000 Venetian Way Apt 403 | condos | 3 | 3 | 2,445 | $2,250,000 | — |
| 1000 Venetian Way Apt 1902 | condos | 3 | 3 | 2,010 | $2,100,000 | — |
| 109 1st Dilido Ter | single_family | 3 | 4 | 2,481 | $4,450,000 | — |
| 1324 Lenox Ave | single_family | 3 | 2 | 1,804 | $1,600,000 | — |
| single_family | 3 | 4 | 3,029 | $13,000,000 | — | |
| 1800 Sunset Harbour Dr Unit 1212 | condos | 3 | 3 | 1,900 | $2,225,000 | — |
| 1853 Jefferson Ave Apt 6 | townhomes | 3 | 4 | 1,430 | $995,000 | — |
| 1300 Lincoln Rd Unit D204 | condos | 3 | 2 | 1,090 | $419,000 | — |
10-year hold projection
IRR-10.1%
Equity multiple-0.71x
Total return (10yr)-$1,266,781
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,377,500 | -$51,254 | -$319,440 | $3,363,136 | $1,014,364 |
| 2 | $4,508,825 | -$51,984 | -$320,320 | $3,323,741 | $1,185,084 |
| 3 | $4,644,090 | -$52,716 | -$321,205 | $3,281,641 | $1,362,449 |
| 4 | $4,783,412 | -$53,449 | -$322,096 | $3,236,650 | $1,546,763 |
| 5 | $4,926,915 | -$54,182 | -$322,991 | $3,188,568 | $1,738,346 |
| 6 | $5,074,722 | -$54,916 | -$323,890 | $3,137,186 | $1,937,537 |
| 7 | $5,226,964 | -$55,650 | -$324,793 | $3,082,274 | $2,144,690 |
| 8 | $5,383,773 | -$56,383 | -$325,700 | $3,023,592 | $2,360,181 |
| 9 | $5,545,286 | -$57,114 | -$326,609 | $2,960,880 | $2,584,406 |
| 10 | $5,711,645 | -$57,843 | -$327,521 | $2,893,862 | $2,817,783 |
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.