588 Miller Dr
Miami Springs, FL 33166 · single_family · For Sale · 159 days on market
Asking price$2,200,000
5 beds 4 baths 3,051 sqft
Suggested offer$1,343,325$856,675 above the est. market value of $1,343,325.
View on Realtor.com →Listed by Norma Hernandez-More · First Service Realty ERA
Typesingle_family
Built1999
Price / sqft$721
Est. value (own analysis)$1,343,325
Rent estimate (own analysis)$8,000/mo
HOANone
Wind10/10Extreme$Flood6/10major$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-03-28
Removed date—
MLSMiamiMLS #A11990322
Coordinates25.81029, -80.27198
Address588 Miller Dr
CityMiami Springs
StateFL
Zip33166
Listing ID5920124282
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 | $2,200,000 |
| Down payment (20.0%) | $440,000 |
| Loan amount | $1,760,000 |
| Closing costs (5.0%) | $110,000 |
| Total cash to close | $550,000 |
| 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) | $3,483$41,800 |
| Insurance (est. scaled by flood & wind risk) | $2,567$30,800 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $400$4,800 |
| Total operating expenses | $6,450$77,400 |
| 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 | — |
| 69 S Royal Poinciana Blvd | single_family | 5 | 3 | 3,062 | $1,500,000 | — |
| 409 DE Leon Dr | single_family | 5 | 5 | — | $3,967,000 | — |
| 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-5.8%
Equity multiple0.03x
Total return (10yr)-$247,040
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,266,000 | $10,920 | -$129,603 | $1,740,918 | $525,082 |
| 2 | $2,333,980 | $11,635 | -$129,008 | $1,720,525 | $613,455 |
| 3 | $2,403,999 | $12,380 | -$128,385 | $1,698,732 | $705,267 |
| 4 | $2,476,119 | $13,158 | -$127,734 | $1,675,442 | $800,677 |
| 5 | $2,550,403 | $13,970 | -$127,051 | $1,650,554 | $899,849 |
| 6 | $2,626,915 | $14,816 | -$126,337 | $1,623,955 | $1,002,960 |
| 7 | $2,705,723 | $15,698 | -$125,591 | $1,595,531 | $1,110,192 |
| 8 | $2,786,894 | $16,618 | -$124,810 | $1,565,154 | $1,221,740 |
| 9 | $2,870,501 | $17,577 | -$123,994 | $1,532,692 | $1,337,809 |
| 10 | $2,956,616 | $18,576 | -$123,142 | $1,498,000 | $1,458,616 |
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.