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420 NE 62nd St

Miami, FL 33138 · multi_family · For Sale · 41 days on market
Asking price$3,700,000
8 beds 10 baths 5,572 sqft
Suggested offer$2,304,635$1,395,365 above the est. market value of $2,304,635.
View on Realtor.com →
Listed by Christina Fernandez · Acc Realty, Inc.
Typemulti_family
Built2026
Price / sqft$664
Est. value (own analysis)$2,304,635
Rent estimate (building total, own analysis)$17,217/mo
HOANone
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-07-23
Removed date—
MLSMiamiMLS #A12058998
Coordinates25.83308, -80.18701
Address420 NE 62nd St
CityMiami
StateFL
Zip33138
Listing ID5897835580
Sourceus-real-estate-listings, cached 2026-08-30

ZIP market snapshot (33138)

Typical home value (ZHVI)$806,988
Typical rent (ZORI)$2,367/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$3,700,000
Down payment (20.0%)$740,000
Loan amount$2,960,000
Closing costs (5.0%)$185,000
Total cash to close$925,000
Income
Rent (estimate)$17,217$206,610
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$206,610
Vacancy rate (assumption) assumption8.0%

$206,610 × 8.0% = $16,529

Effective gross income$15,840$190,081
Operating expenses
Property tax (placeholder 1.9% of price)$5,858$70,300
Insurance (placeholder 0.8% of price)$2,467$29,600
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$861$10,330
Total operating expenses$9,186$110,230
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$190,081
Total operating expenses derived$110,230

$190,081 − $110,230 = $79,850

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$2,960,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$2,960,000 amortized at 6.7% over 30 years = $19,022/mo

CapEx reserve (5.0% of GSR)$861$10,330
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$79,850
Annual debt service derived$228,261
Annual CapEx reserve assumption$10,330
Annual PMI assumption$0

($79,850 − $228,261 − $10,330 − $0) ÷ 12 = -$13,228

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$79,850
Purchase price data$3,700,000

$79,850 ÷ $3,700,000 = 2.2%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$158,741
Total cash to close derived$925,000

-$158,741 ÷ $925,000 = -17.2%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$79,850
Annual debt service derived$228,261

$79,850 ÷ $228,261 = 0.35

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$206,610
Purchase price data$3,700,000

($206,610 ÷ 12) ÷ $3,700,000 = 0.5%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$3,700,000
Gross scheduled rent (annual) comp$206,610

$3,700,000 ÷ $206,610 = 17.9

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$110,230
Effective gross income derived$190,081

$110,230 ÷ $190,081 = 58.0%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$110,230
Annual debt service derived$228,261
Annual PMI assumption$0
Gross scheduled rent (annual) comp$206,610

($110,230 + $228,261 + $0) ÷ $206,610 = 163.8%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

No active rental listings cached yet for this bedroom count.

Widened to any bedroom count in ZIP. 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.

AddressTypeBedsBathsLiving sqftSale priceSale date
545 NE 64th Stmulti_family——1,440$840,0002026-08-31
170 NE 68th Termulti_family——1,376$480,0002026-08-28
586 NE 62nd Stmulti_family622,250$1,300,0002026-08-06
7715 NE 5th Avemulti_family——2,346$1,160,0002026-07-10
47 NE 80th Termulti_family———$750,0002026-07-10
715 NE 92nd St Apt 4multi_family542,822$1,175,0002026-07-10
747 NE 72nd Stmulti_family421,535$1,100,0002026-06-24
6820 NE 5th Avemulti_family442,350$965,5002026-06-15
645 NE 62nd Stmulti_family——1,491$745,0002026-06-09
700 NE 87th Stmulti_family212,226$965,0002026-05-11
15 NE 70th Stmulti_family——1,640$725,0002026-04-17
567 NE 82nd Termulti_family664,095$750,0002026-04-14
813 NE 81st Stmulti_family423,123$1,150,0002026-04-10
8640 NE 2nd Avemulti_family——2,420$1,250,0002026-04-10
71 NE 67th Stmulti_family——1,762$375,0002026-03-11
440 NE 71st Stmulti_family422,016$662,5002026-03-02
6918 NE 5th Avemulti_family——2,057$550,0002026-01-14
7530 NE 3rd Avemulti_family421,448$430,0002025-12-17
140 NE 77th Stmulti_family622,324$460,0002025-12-15
445 NE 76th Stmulti_family521,968$1,690,0002025-12-04
8960 NE 2nd Avemulti_family——1,834$1,200,0002025-11-26
524 NE 71st Stmulti_family422,150$690,0002025-11-18
70 NE 63rd Stmulti_family221,617$3,150,0002025-10-29
6250 NE 1st Avemulti_family513,004$3,150,0002025-10-29
6255 NE Miami Plmulti_family———$3,150,0002025-10-27
539 NE 82nd Termulti_family——3,964$1,100,0002025-10-09
145 NE 80th Termulti_family———$1,250,0002025-10-03
3 NE 75th Stmulti_family——1,994$525,0002025-09-15
10538 NE 4th Avemulti_family——2,820$1,072,0002025-09-04

Widened to city-wide. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.

AddressTypeBedsBathsSqftAsking priceDays on market
650 NW 28th Stmulti_family843,204$1,350,000—
3431-3433 SW 4th Stmulti_family863,429$1,249,000—
2500 NW 91st Stsingle_family851,716$749,999—
1021 NW 30th Stmulti_family852,800$1,200,000—
2900 NW 10th Avemulti_family843,640$1,500,000—
1629 NW 40th Stmulti_family86—$969,900—
1627 NW 40th Stsingle_family86—$969,900—
1021 SW 5th Stmulti_family851,609$1,100,000—

10-year hold projection

IRR-1.5%
Equity multiple0.76x
Total return (10yr)$258,892
YearProperty valueNOICash flowLoan balanceEquity
1$3,811,000$79,850-$158,741$2,927,907$883,093
2$3,925,330$82,797-$156,053$2,893,610$1,031,720
3$4,043,090$85,846-$153,269$2,856,958$1,186,132
4$4,164,383$89,000-$150,385$2,817,789$1,346,594
5$4,289,314$92,264-$147,400$2,775,930$1,513,384
6$4,417,994$95,640-$144,309$2,731,197$1,686,796
7$4,550,533$99,133-$141,108$2,683,392$1,867,141
8$4,687,049$102,746-$137,795$2,632,304$2,054,745
9$4,827,661$106,484-$134,364$2,577,708$2,249,953
10$4,972,491$110,350-$130,813$2,519,362$2,453,128
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.