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1173 NE 104th St

Miami Shores, FL 33138 · single_family · For Sale · 180 days on market
Asking price$2,890,000
5 beds 4 baths 4,435 sqft
View on Realtor.com →
Listed by Rebecca Geornas · Luxuri International Real Estate Miami, LLC.
Typesingle_family
Built1988
Price / sqft$652
Est. value (own analysis)$4,055,101
Rent estimate (own analysis)$25,000/mo
HOANone
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Street view
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-03-06
Removed date—
MLSMiamiMLS #A11968861
Coordinates25.87110, -80.17300
Address1173 NE 104th St
CityMiami Shores
StateFL
Zip33138
Listing ID5973055953
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$2,890,000
Down payment (20.0%)$578,000
Loan amount$2,312,000
Closing costs (5.0%)$144,500
Total cash to close$722,500
Income
Rent (comp-derived)$25,000$300,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$300,000
Vacancy rate (assumption) assumption8.0%

$300,000 × 8.0% = $24,000

Effective gross income$23,000$276,000
Operating expenses
Property tax (placeholder 1.9% of price)$4,576$54,910
Insurance (placeholder 0.8% of price)$1,927$23,120
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$1,250$15,000
Total operating expenses$7,753$93,030
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$276,000
Total operating expenses derived$93,030

$276,000 − $93,030 = $182,970

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$2,312,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$2,312,000 amortized at 6.7% over 30 years = $14,858/mo

CapEx reserve (5.0% of GSR)$1,250$15,000
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$182,970
Annual debt service derived$178,290
Annual CapEx reserve assumption$15,000
Annual PMI assumption$0

($182,970 − $178,290 − $15,000 − $0) ÷ 12 = -$860

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$182,970
Purchase price data$2,890,000

$182,970 ÷ $2,890,000 = 6.3%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$10,320
Total cash to close derived$722,500

-$10,320 ÷ $722,500 = -1.4%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$182,970
Annual debt service derived$178,290

$182,970 ÷ $178,290 = 1.03

Rent-to-price (1% rule)

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

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$300,000
Purchase price data$2,890,000

($300,000 ÷ 12) ÷ $2,890,000 = 0.9%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$2,890,000
Gross scheduled rent (annual) comp$300,000

$2,890,000 ÷ $300,000 = 9.6

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$93,030
Effective gross income derived$276,000

$93,030 ÷ $276,000 = 33.7%

Break-even occupancy

Break-Even Occupancy

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

Total operating expenses derived$93,030
Annual debt service derived$178,290
Annual PMI assumption$0
Gross scheduled rent (annual) comp$300,000

($93,030 + $178,290 + $0) ÷ $300,000 = 90.4%

Comparables

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

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family564,646$45,0002026-08-13—
single_family543,029$24,5002026-06-17—
single_family553,600$25,0002026-05-18—
single_family544,119$25,0002026-03-05—
single_family543,143$18,0002026-06-08—
single_family553,429$27,0002026-08-30—

921 NE 72nd St

Miami, 33138 · rent comp

Bedrooms / bathrooms5 bd / 6 ba
Square footage4,646
Listed2026-08-13
Days on market—

Asking rent: $45,000

View on Zillow →

1074 NE Little River Dr

Miami, 33138 · rent comp

Bedrooms / bathrooms5 bd / 4 ba
Square footage3,029
Listed2026-06-17
Days on market—

Asking rent: $24,500

View on Zillow →

1141 NE 90th St

Miami, 33138 · rent comp

Bedrooms / bathrooms5 bd / 5 ba
Square footage3,600
Listed2026-05-18
Days on market—

Asking rent: $25,000

View on Zillow →

1025 Belle Meade Island Dr

Miami, 33138 · rent comp

Bedrooms / bathrooms5 bd / 4 ba
Square footage4,119
Listed2026-03-05
Days on market—

Asking rent: $25,000

View on Zillow →

1209 NE 96th St Unit 1209

Miami Shores, 33138 · rent comp

Bedrooms / bathrooms5 bd / 4 ba
Square footage3,143
Listed2026-06-08
Days on market—

Asking rent: $18,000

View on Zillow →

9999 NE 13th Ave

Miami Shores, 33138 · rent comp

Bedrooms / bathrooms5 bd / 5 ba
Square footage3,429
Listed2026-08-30
Days on market—

Asking rent: $27,000

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
436 NE 88th Stsingle_family522,324$2,050,0002026-08-12
390 NE 103rd Stsingle_family542,770$1,690,0002026-07-31
1234 NE 96th Stsingle_family565,812$3,125,0002026-07-24
1009 NE 104th Stsingle_family554,156$3,800,0002026-06-15
967 NE 78th Stsingle_family563,480$4,350,0002026-06-10
7333 Belle Meade Blvdsingle_family564,382$9,200,0002026-06-08
144 NE 91st Stsingle_family542,431$1,227,5002026-06-05
1200 NE 94th Stsingle_family565,155$6,600,0002026-06-05
941 NE 92nd Stsingle_family554,504$4,200,0002026-06-02
549 NE 95th Stsingle_family575,109$6,400,0002026-05-21
769 NE 72nd Tersingle_family574,210$5,100,0002026-05-19
1039 NE 72nd Stsingle_family545,184$8,650,0002026-05-14
692 NE 70th Stsingle_family532,997$2,000,0002026-05-04
1000 NE 89th Stsingle_family573,742$2,550,0002026-04-23
754 NE 71st Stsingle_family533,192$1,500,0002026-03-17
9800 NE 13th Avesingle_family543,616$2,400,0002026-02-13
165 NE 70th Stsingle_family531,832$440,0002026-02-13
741 NE 70th Stsingle_family543,012$2,100,0002026-01-30
309 NE 99th Stsingle_family565,119$5,420,0002026-01-12
1075 NE 89th Stsingle_family543,225$2,830,0002026-01-08
1501 NE 103rd Stsingle_family544,076$4,500,0002025-12-23
7305 Belle Meade Island Drsingle_family575,805$10,555,6002025-12-16
1070 NE 93rd Stsingle_family563,240$3,500,0002025-12-05

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.

AddressTypeBedsBathsSqftAsking priceDays on market
421 NE 70th Stsingle_family531,147$980,000—
1155 NE 89th Stsingle_family56—$10,000,000—
7725 NE 8th Avesingle_family564,504$10,000,000—
900 NE 75th Stsingle_family565,378$8,950,000—
1141 NE 90th Stsingle_family55—$4,950,000—
994-990 NE 78thsingle_family553,255$7,500,000—
789 NE 83rd Stsingle_family545,400$5,000,000—
7111 NE 10th Avesingle_family567,065$17,200,000—

10-year hold projection

IRR10.0%
Equity multiple2.57x
Total return (10yr)$1,508,917
YearProperty valueNOICash flowLoan balanceEquity
1$2,976,700$182,970-$10,320$2,286,933$689,767
2$3,066,001$188,924-$4,741$2,260,144$805,857
3$3,157,981$195,069$1,019$2,231,516$926,465
4$3,252,720$201,410$6,966$2,200,922$1,051,798
5$3,350,302$207,953$13,105$2,168,227$1,182,075
6$3,450,811$214,705$19,443$2,133,287$1,317,524
7$3,554,335$221,672$25,986$2,095,947$1,458,388
8$3,660,966$228,862$32,741$2,056,044$1,604,922
9$3,770,795$236,281$39,714$2,013,400$1,757,395
10$3,883,918$243,936$46,912$1,967,827$1,916,091
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.