455 NE 39th St Unit 311
Miami, FL 33137 · townhomes · For Sale · 75 days on market
Asking price$1,185,000
2 beds 3 baths 1,792 sqft
Suggested offer$598,130$586,870 above the est. market value of $598,130.
View on Realtor.com →Listed by Rich Tallman · La Playa Properties Group Inc
Typetownhomes
Built2018
Price / sqft$661
Est. value (Zillow, adjusted)$598,130
Rent estimate (own analysis)$3,500/mo
HOA$811/mo
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Statusfor_sale
Listed date2026-06-19
Removed date—
MLSMiamiMLS #A12034960
Coordinates25.81379, -80.18744
Address455 NE 39th St Unit 311
CityMiami
StateFL
Zip33137
Listing ID5899974410
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $1,185,000 |
| Down payment (20.0%) | $237,000 |
| Loan amount | $948,000 |
| Closing costs (5.0%) | $59,250 |
| Total cash to close | $296,250 |
| Income | |
| Rent (comp-derived) | $3,500$42,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,220$38,640 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,876$22,515 |
| Insurance (placeholder 0.8% of price) | $790$9,480 |
| HOA dues | $811$9,732 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $175$2,100 |
| Total operating expenses | $3,652$43,827 |
| 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) | $175$2,100 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| townhomes | 2 | 2 | 1,282 | $3,800 | 2026-08-17 | — | |
| townhomes | 2 | 2 | 1,282 | $3,500 | 2026-08-15 | — | |
| townhomes | 2 | 1 | 1,846 | $1,950 | 2026-08-10 | — |
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.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 601 NE 27th St Unit 104 | townhomes | 3 | 3 | 1,870 | $1,410,000 | 2026-08-11 |
| 527 NE 61st St | townhomes | 3 | 3 | 2,345 | $1,020,000 | 2026-07-28 |
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 |
|---|---|---|---|---|---|---|
| 601 NE 36th St Apt 2707 | condos | 2 | 3 | 1,158 | $575,000 | — |
| 600 NE 36th St Apt 706 | condos | 2 | 2 | 990 | $475,000 | — |
| 3470 E Coast Ave Apt H0302 | condos | 2 | 3 | 1,088 | $662,000 | — |
| 456 NE 29th St Unit 2403 | condos | 2 | 3 | 1,472 | $1,605,000 | — |
| 456 NE 29th St Unit 1505 | condos | 2 | 2 | 1,231 | $1,285,000 | — |
| 501 NE 31st St Unit 608 | condos | 2 | 2 | 1,084 | $647,900 | — |
| 460 NE 28th St Apt 601 | condos | 2 | 2 | 1,311 | $925,000 | — |
| 725 NE 22nd St Ph 2A | condos | 2 | 2 | 1,400 | $1,150,000 | — |
10-year hold projection
IRR-8.2%
Equity multiple-0.38x
Total return (10yr)-$253,962
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,220,550 | -$5,187 | -$80,392 | $937,722 | $282,828 |
| 2 | $1,257,167 | -$5,123 | -$80,381 | $926,737 | $330,429 |
| 3 | $1,294,882 | -$5,053 | -$80,364 | $914,999 | $379,883 |
| 4 | $1,333,728 | -$4,974 | -$80,341 | $902,454 | $431,274 |
| 5 | $1,373,740 | -$4,887 | -$80,310 | $889,048 | $484,692 |
| 6 | $1,414,952 | -$4,792 | -$80,273 | $874,722 | $540,230 |
| 7 | $1,457,401 | -$4,688 | -$80,228 | $859,411 | $597,990 |
| 8 | $1,501,123 | -$4,574 | -$80,176 | $843,049 | $658,073 |
| 9 | $1,546,156 | -$4,451 | -$80,115 | $825,564 | $720,593 |
| 10 | $1,592,541 | -$4,317 | -$80,045 | $806,877 | $785,663 |
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.