409 DE Leon Dr
Miami Springs, FL 33166 · single_family · For Sale · 239 days on market
Asking price$3,967,000
5 beds 5 baths — sqft
Suggested offer$1,049,500$2,917,500 above the est. market value of $1,049,500.
View on Realtor.com →Listed by Gretel Costa · 5 Stars Realty Corp
Typesingle_family
Built2026
Price / sqft—
Est. value (own analysis)$1,049,500
Rent estimate (own analysis)$8,000/mo
HOANone
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Show every detail
Statusfor_sale
Listed date2026-01-06
Removed date—
MLSMiamiMLS #A11939451
Coordinates25.81323, -80.27855
Address409 DE Leon Dr
CityMiami Springs
StateFL
Zip33166
Listing ID5870672377
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33166)
Typical home value (ZHVI)$610,998
Typical rent (ZORI)$2,899/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 | $3,967,000 |
| Down payment (20.0%) | $793,400 |
| Loan amount | $3,173,600 |
| Closing costs (5.0%) | $198,350 |
| Total cash to close | $991,750 |
| Income | |
| Rent (comp-derived) | $8,000$96,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,360$88,320 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,281$75,373 |
| Insurance (placeholder 0.8% of price) | $2,645$31,736 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $400$4,800 |
| Total operating expenses | $9,326$111,909 |
| 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) | $400$4,800 |
| 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 | 3 | 2,855 | $7,500 | 2026-08-27 | — | |
| single_family | 5 | 4 | 3,436 | $8,000 | 2026-04-17 | — | |
| single_family | 5 | 6 | 5,344 | $39,500 | 2026-08-25 | — |
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 |
|---|---|---|---|---|---|---|
| 550 Cardinal St | single_family | 5 | 2 | 2,205 | $999,000 | 2026-08-31 |
| 8096 NW 48th Ter | single_family | 5 | 4 | 3,436 | $1,700,000 | 2026-08-10 |
| 520 Morningside Dr | single_family | 5 | 4 | 3,253 | $1,500,000 | 2026-06-30 |
| 324 LA Villa Dr | single_family | 5 | 3 | 1,606 | $820,000 | 2026-05-05 |
| 8156 NW 48th Ter | single_family | 5 | 5 | 4,444 | $2,075,000 | 2026-03-13 |
| 4437 NW 80th Ct | single_family | 5 | 4 | 2,863 | $1,100,000 | 2026-02-10 |
| 6221 NW 37th Ter | single_family | 5 | 3 | 2,821 | $675,000 | 2025-12-18 |
| 810 Bluebird Ave | single_family | 5 | 3 | 3,105 | $670,000 | 2025-12-16 |
| 1237 Dove Ave | single_family | 5 | 3 | 2,304 | $985,000 | 2025-11-26 |
| 8173 NW 47th Ter | single_family | 5 | 6 | 5,504 | $2,100,000 | 2025-10-20 |
| 45 South Dr | single_family | 5 | 3 | 2,452 | $835,000 | 2025-10-02 |
| 8127 NW 48th Ter | single_family | 5 | 4 | 3,983 | $2,000,000 | 2025-09-05 |
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 |
|---|---|---|---|---|---|---|
| 580 Lee Dr | single_family | 5 | 3 | — | $1,200,000 | — |
| 588 Miller Dr | single_family | 5 | 4 | 3,051 | $2,200,000 | — |
| 69 S Royal Poinciana Blvd | single_family | 5 | 3 | 3,062 | $1,500,000 | — |
| 550 Cardinal St | single_family | 5 | 2 | 2,205 | $999,000 | — |
| 8478 NW 52nd St | condos | 5 | 4 | 2,696 | $990,000 | — |
10-year hold projection
IRR-8.5%
Equity multiple-0.44x
Total return (10yr)-$905,624
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,086,010 | -$23,589 | -$273,122 | $3,139,191 | $946,819 |
| 2 | $4,208,590 | -$23,737 | -$273,390 | $3,102,419 | $1,106,171 |
| 3 | $4,334,848 | -$23,876 | -$273,652 | $3,063,122 | $1,271,726 |
| 4 | $4,464,893 | -$24,004 | -$273,906 | $3,021,127 | $1,443,767 |
| 5 | $4,598,840 | -$24,122 | -$274,153 | $2,976,247 | $1,622,593 |
| 6 | $4,736,805 | -$24,228 | -$274,391 | $2,928,286 | $1,808,519 |
| 7 | $4,878,910 | -$24,321 | -$274,621 | $2,877,031 | $2,001,878 |
| 8 | $5,025,277 | -$24,402 | -$274,841 | $2,822,257 | $2,203,020 |
| 9 | $5,176,035 | -$24,469 | -$275,050 | $2,763,721 | $2,412,314 |
| 10 | $5,331,316 | -$24,521 | -$275,249 | $2,701,165 | $2,630,151 |
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.