12685 N Bayshore Dr
North Miami, FL 33181 · single_family · For Sale · 314 days on market
Asking price$9,250,000
6 beds 8 baths 6,146 sqft
Suggested offer$6,790,347$2,459,653 above the est. market value of $6,790,347.
View on Realtor.com →Listed by Richard Todd Feldman, Broker/Owner · Miami Waterfront Realty
Typesingle_family
Built2025
Price / sqft$1505
Est. value (own analysis)$6,790,347
Rent estimate (Zillow ZIP avg)$2,429/mo
HOANone
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Statusfor_sale
Listed date2025-10-23
Removed date—
MLSMiamiMLS #A11693544
Coordinates25.89540, -80.15292
Address12685 N Bayshore Dr
CityNorth Miami
StateFL
Zip33181
Listing ID5914634328
Sourceus-real-estate-listings, cached 2026-09-02
ZIP market snapshot (33181)
Typical home value (ZHVI)$321,152
Typical rent (ZORI)$2,429/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 | $9,250,000 |
| Down payment (20.0%) | $1,850,000 |
| Loan amount | $7,400,000 |
| Closing costs (5.0%) | $462,500 |
| Total cash to close | $2,312,500 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,429$29,153 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,235$26,821 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $14,646$175,750 |
| Insurance (placeholder 0.8% of price) | $6,167$74,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $121$1,458 |
| Total operating expenses | $20,934$251,208 |
| 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) | $121$1,458 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 2370 Bayview Ln | single_family | 6 | 7 | 5,625 | $7,530,000 | 2026-07-30 |
| 2310 Bayview Ln | single_family | 6 | 6 | 4,822 | $4,200,000 | 2026-07-27 |
| 13225 Arch Creek Ter | single_family | 6 | 6 | 4,547 | $7,500,000 | 2026-02-06 |
| 2010 NE 120th Rd | single_family | 6 | 7 | 6,180 | $4,500,000 | 2025-11-20 |
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 |
|---|---|---|---|---|---|---|
| 2210 NE 124th St | single_family | 6 | 7 | — | $3,100,000 | — |
| 13390 Biscayne Bay Dr | single_family | 6 | 10 | — | $15,490,000 | — |
| 2050 S Hibiscus Dr | single_family | 6 | 5 | 4,441 | $6,600,000 | — |
10-year hold projection
IRR-12.9%
Equity multiple-1.23x
Total return (10yr)-$3,946,945
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $9,527,500 | -$224,387 | -$796,497 | $7,319,768 | $2,207,732 |
| 2 | $9,813,325 | -$229,863 | -$802,009 | $7,234,026 | $2,579,299 |
| 3 | $10,107,725 | -$235,471 | -$807,655 | $7,142,396 | $2,965,329 |
| 4 | $10,410,956 | -$241,216 | -$813,438 | $7,044,473 | $3,366,483 |
| 5 | $10,723,285 | -$247,099 | -$819,361 | $6,939,826 | $3,783,459 |
| 6 | $11,044,984 | -$253,126 | -$825,428 | $6,827,993 | $4,216,990 |
| 7 | $11,376,333 | -$259,299 | -$831,642 | $6,708,481 | $4,667,853 |
| 8 | $11,717,623 | -$265,621 | -$838,006 | $6,580,761 | $5,136,862 |
| 9 | $12,069,152 | -$272,097 | -$844,525 | $6,444,270 | $5,624,882 |
| 10 | $12,431,227 | -$278,729 | -$851,202 | $6,298,407 | $6,132,820 |
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.