55 Merrick Way Apt 808
Coral Gables, FL 33134 · condos · For Sale · 5 days on market
Asking price$3,250,000
3 beds 4 baths 4,536 sqft
Suggested offer$2,775,524$474,476 above the est. market value of $2,775,524.
View on Realtor.com →Listed by Iliana Abella · Compass Florida, LLC.
Typecondos
Built2008
Price / sqft$716
Est. value (own analysis)$2,775,524
Rent estimate (own analysis)$16,500/mo
HOA$5,270/mo
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Statusfor_sale
Listed date2026-08-28
Removed date—
MLSMiamiMLS #A12079011
Coordinates25.75108, -80.25524
Address55 Merrick Way Apt 808
CityCoral Gables
StateFL
Zip33134
Listing ID5957048044
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33134)
Typical home value (ZHVI)$887,965
Typical rent (ZORI)$3,095/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 | $3,250,000 |
| Down payment (20.0%) | $650,000 |
| Loan amount | $2,600,000 |
| Closing costs (5.0%) | $162,500 |
| Total cash to close | $812,500 |
| Income | |
| Rent (comp-derived) | $16,500$198,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $15,180$182,160 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $5,146$61,750 |
| Insurance (placeholder 0.8% of price) | $2,167$26,000 |
| HOA dues | $5,270$63,240 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $825$9,900 |
| Total operating expenses | $13,408$160,890 |
| 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) | $825$9,900 |
| 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 | 3,949 | $16,500 | 2026-01-14 | — | |
| apartment | 3 | 5 | 2,982 | $24,000 | 2025-10-30 | — | |
| apartment | 3 | 3 | 3,531 | $6,000 | 2026-08-21 | — |
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 |
|---|---|---|---|---|---|---|
| 441 Valencia Ave Apt 1201 | condos | 3 | 4 | 1,713 | $1,275,000 | 2026-08-26 |
| 55 Merrick Way Apt 831 | condos | 3 | 2 | 1,553 | $915,000 | 2026-08-10 |
| 650 Valencia Ave Unit 302 | condos | 3 | 3 | 2,365 | $1,510,000 | 2026-08-06 |
| 55 Merrick Way Apt 812 | condos | 3 | 3 | 1,611 | $975,000 | 2026-08-03 |
| 626 Coral Way Apt 503 | condos | 3 | 2 | 1,531 | $1,175,000 | 2026-07-17 |
| 700 Coral Way Apt 5 | condos | 3 | 3 | 3,200 | $1,950,000 | 2026-06-30 |
| 888 S Douglas Rd Apt 404 | condos | 3 | 2 | 1,351 | $606,000 | 2026-06-11 |
| 626 Coral Way Apt 1104 | condos | 3 | 3 | 2,100 | $1,673,250 | 2026-05-05 |
| 10 Aragon Ave Ste 1105 | condos | 3 | 2 | 1,654 | $839,598 | 2026-04-30 |
| 2030 S Douglas Rd Apt 511 | condos | 3 | 2 | 1,337 | $580,000 | 2026-04-14 |
| 642 Valencia Ave Unit 207 | condos | 3 | 4 | 2,264 | $1,680,000 | 2026-01-16 |
| 700 Biltmore Way Apt 710 | condos | 3 | 4 | 2,190 | $750,000 | 2025-12-16 |
| 626 Coral Way Apt 402 | condos | 3 | 3 | 2,100 | $1,425,000 | 2025-09-29 |
| 610 Valencia Ave Apt 503 | condos | 3 | 3 | 2,860 | $1,750,000 | 2025-09-02 |
| 1805 Ponce De Leon Blvd Apt 1200 | condos | 3 | 2 | 1,702 | $1,325,000 | 2025-08-29 |
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 |
|---|---|---|---|---|---|---|
| 540 SW 39th Ave | single_family | 3 | 3 | 2,496 | $895,000 | — |
| 4353 SW 2nd St | single_family | 3 | 3 | 1,637 | $819,999 | — |
| 4630 SW 3rd St | single_family | 3 | 2 | 1,468 | $960,000 | — |
| 4840 SW 5th Ter | single_family | 3 | 2 | 1,365 | $765,000 | — |
| 4261 SW 12th St | single_family | 3 | 2 | 1,508 | $1,080,000 | — |
| 20 SW 48th Ave | single_family | 3 | 2 | 1,535 | $749,500 | — |
| 3730 SW 28th St | townhomes | 3 | 4 | 2,010 | $1,399,000 | — |
| 3769 SW 27th Ln Unit 3769 | townhomes | 3 | 4 | 2,284 | $1,375,000 | — |
10-year hold projection
IRR-5.5%
Equity multiple0.08x
Total return (10yr)-$325,387
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $3,347,500 | $21,270 | -$189,130 | $2,571,810 | $775,690 |
| 2 | $3,447,925 | $22,713 | -$187,935 | $2,541,685 | $906,240 |
| 3 | $3,551,363 | $24,218 | -$186,682 | $2,509,490 | $1,041,872 |
| 4 | $3,657,904 | $25,790 | -$185,371 | $2,475,085 | $1,182,818 |
| 5 | $3,767,641 | $27,430 | -$183,997 | $2,438,317 | $1,329,323 |
| 6 | $3,880,670 | $29,141 | -$182,559 | $2,399,025 | $1,481,645 |
| 7 | $3,997,090 | $30,926 | -$181,055 | $2,357,034 | $1,640,056 |
| 8 | $4,117,003 | $32,786 | -$179,481 | $2,312,159 | $1,804,844 |
| 9 | $4,240,513 | $34,726 | -$177,836 | $2,264,203 | $1,976,310 |
| 10 | $4,367,728 | $36,748 | -$176,115 | $2,212,954 | $2,154,774 |
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.