488 NE 18th St Unit 715
Miami, FL 33132 · condos · For Sale · 139 days on market
Asking price$2,099,000
3 beds 4 baths 2,018 sqft
Suggested offer$1,318,291$780,709 above the est. market value of $1,318,291.
View on Realtor.com →Listed by Ana Teresa Rodriguez | ATR Luxury Homes · Coldwell Banker Realty
Typecondos
Built2018
Price / sqft$1040
Est. value (own analysis)$1,318,291
Rent estimate (own analysis)$9,000/mo
HOA$2,264/mo
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Statusfor_sale
Listed date2026-04-16
Removed date—
MLSMiamiMLS #A11998298
Coordinates25.79333, -80.18707
Address488 NE 18th St Unit 715
CityMiami
StateFL
Zip33132
Listing ID5894198373
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33132)
Typical home value (ZHVI)$514,716
Typical rent (ZORI)$3,468/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 | $2,099,000 |
| Down payment (20.0%) | $419,800 |
| Loan amount | $1,679,200 |
| Closing costs (5.0%) | $104,950 |
| Total cash to close | $524,750 |
| Income | |
| Rent (comp-derived) | $9,000$108,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $8,280$99,360 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,323$39,881 |
| Insurance (placeholder 0.8% of price) | $1,399$16,792 |
| HOA dues | $2,264$27,168 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $450$5,400 |
| Total operating expenses | $7,437$89,241 |
| 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) | $450$5,400 |
| 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 | 4 | 2,204 | $12,800 | 2026-08-20 | — | |
| condos | 3 | 2 | 1,789 | $6,500 | 2026-08-19 | — | |
| condos | 3 | 2 | 1,515 | $5,500 | 2026-08-14 | — | |
| condos | 3 | 4 | 2,204 | $9,500 | 2026-08-14 | — | |
| condos | 3 | 4 | 1,953 | $13,500 | 2026-08-13 | — | |
| condos | 3 | 4 | 2,188 | $10,000 | 2026-08-12 | — | |
| apartment | 3 | 3 | 1,800 | $9,579 | 2026-08-10 | — | |
| condos | 3 | 4 | 2,188 | $12,500 | 2026-08-07 | — | |
| condos | 3 | 2 | 1,789 | $6,200 | 2026-07-27 | — | |
| condos | 3 | 3 | 1,494 | $5,900 | 2026-07-22 | — | |
| apartment | 3 | 3 | 1,359 | $5,230 | 2026-07-14 | — | |
| condos | 3 | 3 | 1,795 | $6,500 | 2026-07-14 | — | |
| condos | 3 | 4 | 1,592 | $9,500 | 2026-07-13 | — | |
| condos | 3 | 2 | 1,602 | $5,800 | 2026-07-13 | — | |
| condos | 3 | 2 | 1,789 | $6,500 | 2026-07-10 | — | |
| condos | 3 | 4 | 2,204 | $11,000 | 2026-07-06 | — | |
| condos | 3 | 3 | 1,739 | $6,000 | 2026-07-01 | — | |
| condos | 3 | 4 | 2,188 | $12,500 | 2026-06-24 | — | |
| condos | 3 | 4 | 1,694 | $7,900 | 2026-06-22 | — | |
| condos | 3 | 3 | 2,301 | $6,900 | 2026-06-19 | — | |
| condos | 3 | 2 | 1,789 | $6,300 | 2026-06-08 | — | |
| condos | 3 | 3 | 1,840 | $6,500 | 2026-06-03 | — | |
| condos | 3 | 3 | 1,840 | $7,000 | 2026-06-02 | — | |
| condos | 3 | 4 | 1,592 | $7,500 | 2026-06-02 | — | |
| condos | 3 | 3 | 1,547 | $8,000 | 2026-05-31 | — | |
| condos | 3 | 2 | 1,322 | $4,600 | 2026-05-15 | — | |
| condos | 3 | 4 | 2,145 | $10,500 | 2026-05-08 | — | |
| condos | 3 | 4 | 2,204 | $12,500 | 2026-04-27 | — | |
| condos | 3 | 3 | 1,827 | $6,800 | 2026-08-04 | — | |
| condos | 3 | 4 | 2,188 | $11,300 | 2026-07-31 | — | |
| condos | 3 | 4 | 2,204 | $15,000 | 2026-07-30 | — | |
| condos | 3 | 3 | 2,081 | $10,000 | 2026-01-15 | — | |
| condos | 3 | 3 | 2,106 | $12,900 | 2026-04-13 | — | |
| condos | 3 | 4 | 2,018 | $12,750 | 2025-11-04 | — | |
| apartment | 3 | 2 | 1,808 | $25,000 | 2022-08-18 | — | |
| condos | 3 | 4 | 2,018 | $12,500 | 2026-04-27 | — | |
| condos | 3 | 4 | 2,202 | $8,995 | 2026-03-24 | — | |
| condos | 3 | 4 | 2,145 | $11,900 | 2022-03-04 | — | |
| condos | 3 | 3 | 2,106 | $10,750 | 2026-04-16 | — | |
| condos | 3 | 4 | 2,165 | $14,500 | 2026-02-21 | — | |
| condos | 3 | 3 | 1,633 | $9,000 | 2024-11-20 | — | |
| condos | 3 | 3 | 1,498 | $8,500 | 2026-04-13 | — | |
| condos | 3 | 3 | 1,795 | $8,000 | — | — | |
| condos | 3 | 3 | 1,936 | $8,900 | 2026-08-26 | — | |
| condos | 3 | 4 | 2,188 | $12,000 | 2026-08-28 | — | |
| condos | 3 | 2 | 1,496 | $5,200 | 2026-03-24 | — | |
| apartment | 3 | 3 | 1,359 | $5,240 | — | — | |
| apartment | 3 | 3 | 1,590 | $5,500 | — | — | |
| condos | 3 | 4 | 2,204 | $12,800 | — | — | |
| condos | 3 | 4 | 2,204 | $9,750 | — | — | |
| condos | 3 | 4 | 2,165 | $14,500 | — | — | |
| apartment | 3 | 3 | 1,359 | $5,245 | — | — | |
| apartment | 3 | 3 | 1,359 | $5,230 | — | — | |
| apartment | 3 | 2 | 1,808 | $10,450 | — | — | |
| condos | 3 | 4 | 2,450 | $26,000 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 1800 N Bayshore Dr Apt 1901 | condos | 3 | 3 | 2,189 | $1,420,000 | 2026-08-17 |
| 488 NE 18th St Unit 5012 | condos | 3 | 4 | 2,365 | $2,575,000 | 2026-08-14 |
| 398 NE 5th St Apt 4518 | condos | 3 | 3 | 1,135 | $1,050,000 | 2026-08-14 |
| 851 NE 1st Ave Unit 1412 | condos | 3 | 4 | 2,165 | $1,290,000 | 2026-08-05 |
| 601 NE 1 St Unit 2716 | condos | 3 | 3 | 1,633 | $1,175,000 | 2026-07-24 |
| 50 Biscayne Blvd Apt 3510 | condos | 3 | 2 | 1,789 | $1,025,000 | 2026-07-17 |
| 1717 N Bayshore Dr Unit A2451 | condos | 3 | 3 | 1,840 | $705,000 | 2026-07-10 |
| 900 Biscayne Blvd Apt 3709 | condos | 3 | 3 | 1,579 | $1,175,000 | 2026-06-30 |
| 50 Biscayne Blvd Apt 3702 | condos | 3 | 2 | 1,789 | $1,020,000 | 2026-06-12 |
| 851 NE 1st Ave Unit 3401 | condos | 3 | 4 | 2,204 | $1,475,000 | 2026-06-12 |
| 1900 N Bayshore Dr Apt 2512 | condos | 3 | 3 | 1,494 | $830,000 | 2026-05-28 |
| 601 NE 1st Ave Unit 3316 | condos | 3 | 3 | — | $1,100,000 | 2026-05-27 |
| 50 Biscayne Blvd Apt 1902 | condos | 3 | 2 | 1,789 | $1,035,000 | 2026-04-30 |
| 275 NE 18th St Apt 1207 | condos | 3 | 2 | 1,318 | $605,000 | 2026-04-29 |
| 1800 N Bayshore Dr Apt 1801 | condos | 3 | 3 | 2,189 | $1,400,000 | 2026-04-16 |
| 851 NE 1st Ave Unit 1611 | condos | 3 | 4 | 2,188 | $1,350,000 | 2026-03-16 |
| 900 Biscayne Blvd Apt 3902 | condos | 3 | 3 | 1,575 | $1,150,000 | 2026-03-09 |
| 1900 N Bayshore Dr Apt 4902 | condos | 3 | 4 | 1,970 | $1,342,000 | 2026-03-09 |
| 900 Biscayne Blvd Apt 2106 | condos | 3 | 4 | 2,145 | $1,800,000 | 2026-03-09 |
| 900 Biscayne Blvd Apt 1707 | condos | 3 | 3 | 1,630 | $1,420,000 | 2026-03-06 |
| 50 Biscayne Blvd Apt 3102 | condos | 3 | 2 | 1,789 | $1,030,000 | 2026-02-27 |
| 488 NE 18th St Unit 4612 | condos | 3 | 4 | 2,018 | $2,225,000 | 2026-02-20 |
| 488 NE 18th St Unit 2010 | condos | 3 | 4 | 1,592 | $1,040,000 | 2026-02-18 |
| 488 NE 18th St Unit 3912 | condos | 3 | 4 | 2,018 | $2,300,000 | 2026-01-27 |
| 1717 N Bayshore Dr Unit A2751 | condos | 3 | 3 | 1,840 | $690,000 | 2026-01-06 |
| 1800 N Bayshore Dr Apt 2201 | condos | 3 | 3 | 2,189 | $1,475,000 | 2025-12-23 |
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 |
|---|---|---|---|---|---|---|
| 851 NE 1st Ave Unit 3711 | condos | 3 | 4 | 2,188 | $1,675,000 | — |
| 398 NE 5th St Apt 4701 | condos | 3 | 3 | 1,150 | $1,650,000 | — |
| 1400 Biscayne Blvd Unit 3501 | condos | 3 | 4 | 1,953 | $2,650,000 | — |
| 175 NE 10 Street | condo | 3 | 2 | 1,531 | $1,984,000 | — |
| 1400 Biscayne Blvd Unit 3201 | condos | 3 | 4 | 1,953 | $2,725,000 | — |
| 398 NE 5th St Apt 2118 | condos | 3 | 3 | 1,135 | $1,225,000 | — |
| 1717 N Bayshore Dr Unit A1951 | condos | 3 | 3 | 1,840 | $975,000 | — |
| 159 NE 6th St Unit 2415 | condos | 3 | 3 | 1,373 | $1,225,000 | — |
10-year hold projection
IRR-5.9%
Equity multiple0.01x
Total return (10yr)-$244,314
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,161,970 | $10,119 | -$124,773 | $1,660,994 | $500,976 |
| 2 | $2,226,829 | $10,869 | -$124,158 | $1,641,537 | $585,292 |
| 3 | $2,293,634 | $11,652 | -$123,513 | $1,620,745 | $672,889 |
| 4 | $2,362,443 | $12,471 | -$122,837 | $1,598,524 | $763,919 |
| 5 | $2,433,316 | $13,325 | -$122,127 | $1,574,778 | $858,538 |
| 6 | $2,506,316 | $14,217 | -$121,384 | $1,549,401 | $956,915 |
| 7 | $2,581,505 | $15,149 | -$120,605 | $1,522,281 | $1,059,224 |
| 8 | $2,658,950 | $16,121 | -$119,790 | $1,493,299 | $1,165,651 |
| 9 | $2,738,719 | $17,135 | -$118,936 | $1,462,327 | $1,276,392 |
| 10 | $2,820,880 | $18,192 | -$118,043 | $1,429,228 | $1,391,653 |
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.