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15230 NE 2nd Ave

Miami, FL 33162 · single_family · Pending — under contract · 36 days on market
Asking price$1,650,000
5 beds 3 baths 1,688 sqft
Suggested offer$808,890$841,110 above the est. market value of $808,890.
View on Realtor.com →
Listed by Serge Saintil · Lifestyle International Realty
Typesingle_family
Built1963
Price / sqft$977
Est. value (own analysis)$808,890
Rent estimate (own analysis)$6,500/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-07-28
Removed date—
MLSMiamiMLS #A12058693
Coordinates25.91515, -80.19619
Address15230 NE 2nd Ave
CityMiami
StateFL
Zip33162
Listing ID5986908000
Sourceus-real-estate-listings, cached 2026-09-01

ZIP market snapshot (33162)

Typical home value (ZHVI)$472,330
Typical rent (ZORI)$2,262/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$1,650,000
Down payment (20.0%)$330,000
Loan amount$1,320,000
Closing costs (5.0%)$82,500
Total cash to close$412,500
Income
Rent (comp-derived)$6,500$78,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$78,000
Vacancy rate (assumption) assumption8.0%

$78,000 × 8.0% = $6,240

Effective gross income$5,980$71,760
Operating expenses
Property tax (placeholder 1.9% of price)$2,613$31,350
Insurance (est. scaled by flood & wind risk)$1,760$21,120
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$325$3,900
Total operating expenses$4,698$56,370
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$71,760
Total operating expenses derived$56,370

$71,760 − $56,370 = $15,390

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$1,320,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$1,320,000 amortized at 6.7% over 30 years = $8,483/mo

CapEx reserve (5.0% of GSR)$325$3,900
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$15,390
Annual debt service derived$101,792
Annual CapEx reserve assumption$3,900
Annual PMI assumption$0

($15,390 − $101,792 − $3,900 − $0) ÷ 12 = -$7,525

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$15,390
Purchase price data$1,650,000

$15,390 ÷ $1,650,000 = 0.9%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$90,302
Total cash to close derived$412,500

-$90,302 ÷ $412,500 = -21.9%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$15,390
Annual debt service derived$101,792

$15,390 ÷ $101,792 = 0.15

Rent-to-price (1% rule)

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

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$78,000
Purchase price data$1,650,000

($78,000 ÷ 12) ÷ $1,650,000 = 0.4%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,650,000
Gross scheduled rent (annual) comp$78,000

$1,650,000 ÷ $78,000 = 21.2

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$56,370
Effective gross income derived$71,760

$56,370 ÷ $71,760 = 78.6%

Break-even occupancy

Break-Even Occupancy

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

Total operating expenses derived$56,370
Annual debt service derived$101,792
Annual PMI assumption$0
Gross scheduled rent (annual) comp$78,000

($56,370 + $101,792 + $0) ÷ $78,000 = 202.8%

Comparables

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

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family532,495$6,5002026-07-02—
single_family532,619$7,5002026-08-01—
single_family532,128$5,1992026-06-07—

945 NE 176th St

Miami, 33162 · rent comp

Bedrooms / bathrooms5 bd / 3 ba
Square footage2,495
Listed2026-07-02
Days on market—

Asking rent: $6,500

View on Zillow →

1731 NE 171st St Unit 0

North Miami Beach, 33162 · rent comp

Bedrooms / bathrooms5 bd / 3 ba
Square footage2,619
Listed2026-08-01
Days on market—

Asking rent: $7,500

View on Zillow →

2199 NE 182nd St Units 1 & 2

North Miami Beach, 33162 · rent comp

Bedrooms / bathrooms5 bd / 3 ba
Square footage2,128
Listed2026-06-07
Days on market—

Asking rent: $5,199

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
931 NE 173rd Stsingle_family522,868$1,725,0002026-06-30
800 NE 154th Stsingle_family532,313$500,0002026-06-02
11 NE 151st Stsingle_family542,337$930,0002026-04-13
1325 NE 171st Stsingle_family532,944$1,650,0002026-01-21

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
16550 NE 4th Avesingle_family531,478$450,000—
55 NE 165th Stmulti_family522,124$725,000—
610 NE 164th Tersingle_family532,201$848,999—
110 NE 152nd Stsingle_family532,926$899,000—
426 NE 166th St Unit 2single_family531,895$550,000—
16910 NE 8th Ctsingle_family532,236$895,000—
16031 NE 19th Plsingle_family552,982$825,000—

10-year hold projection

IRR-4.7%
Equity multiple0.22x
Total return (10yr)-$106,538
YearProperty valueNOICash flowLoan balanceEquity
1$1,699,500$15,390-$90,302$1,305,688$393,812
2$1,750,485$16,134-$89,656$1,290,394$460,091
3$1,803,000$16,906-$88,983$1,274,049$528,951
4$1,857,090$17,710-$88,282$1,256,581$600,508
5$1,912,802$18,545-$87,552$1,237,915$674,888
6$1,970,186$19,412-$86,793$1,217,966$752,220
7$2,029,292$20,313-$86,002$1,196,647$832,645
8$2,090,171$21,250-$85,179$1,173,865$916,306
9$2,152,876$22,222-$84,322$1,149,518$1,003,358
10$2,217,462$23,232-$83,431$1,123,499$1,093,963
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.