6231 SW 116th Pl Apt A
Miami, FL 33173 · condos · For Sale · 19 days on market
Asking price$325,000
2 beds 2 baths 1,330 sqft
Listed by Adam Levy · Compass Florida, LLC.
Typecondos
Built1976
Price / sqft$244
Est. value (own analysis)$358,342
Rent estimate (own analysis)$2,300/mo
HOA$805/mo
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire2/10Minor
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Statusfor_sale
Listed date2026-08-14
Removed date—
MLSMiamiMLS #A12069378
Coordinates25.70894, -80.38114
Address6231 SW 116th Pl Apt A
CityMiami
StateFL
Zip33173
Listing ID5992475147
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33173)
Typical home value (ZHVI)$567,889
Typical rent (ZORI)$2,611/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 | $325,000 |
| Down payment (20.0%) | $65,000 |
| Loan amount | $260,000 |
| Closing costs (5.0%) | $16,250 |
| Total cash to close | $81,250 |
| Income | |
| Rent (comp-derived) | $2,300$27,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,116$25,392 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $515$6,175 |
| Insurance (est. scaled by flood & wind risk) | $477$5,720 |
| HOA dues | $805$9,660 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $115$1,380 |
| Total operating expenses | $1,911$22,935 |
| 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) | $115$1,380 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 2 | 2 | 900 | $2,350 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,330 | $2,800 | 2026-08-18 | — | |
| condos | 2 | 2 | 1,235 | $2,500 | 2026-08-14 | — | |
| condos | 2 | 2 | 965 | $2,200 | 2026-08-06 | — | |
| condos | 2 | 2 | 965 | $2,250 | 2026-08-04 | — | |
| condos | 2 | 3 | 1,140 | $2,200 | 2026-07-24 | — | |
| condos | 2 | 2 | 965 | $2,400 | 2026-07-23 | — | |
| condos | 2 | 3 | 1,140 | $2,200 | 2026-08-26 | — | |
| apartment | 2 | 3 | 1,140 | $2,200 | 2026-07-17 | — | |
| condos | 2 | 2 | 965 | $2,300 | 2026-07-11 | — | |
| condos | 2 | 2 | 965 | $2,200 | 2026-07-07 | — | |
| condos | 2 | 2 | 1,235 | $2,300 | 2026-07-01 | — | |
| condos | 2 | 2 | 965 | $2,200 | 2026-07-01 | — | |
| condos | 2 | 2 | 901 | $2,200 | 2026-07-01 | — | |
| condos | 2 | 2 | 985 | $2,450 | 2026-06-29 | — | |
| condos | 2 | 2 | 965 | $2,200 | 2026-06-03 | — | |
| condos | 2 | 2 | 1,235 | $2,500 | 2026-05-11 | — | |
| condos | 2 | 2 | 985 | $2,300 | 2026-04-28 | — | |
| condos | 2 | 2 | 965 | $2,300 | 2026-04-28 | — | |
| condos | 2 | 2 | 965 | $2,300 | 2026-07-28 | — | |
| condos | 2 | 3 | 1,140 | $2,200 | 2026-08-25 | — | |
| condos | 2 | 2 | 945 | $2,000 | 2026-04-16 | — | |
| condos | 2 | 2 | 1,235 | $2,150 | 2026-04-19 | — | |
| condos | 2 | 2 | 1,235 | $2,300 | 2026-01-26 | — | |
| condos | 2 | 2 | 985 | $2,300 | 2026-04-15 | — | |
| apartment | 2 | 1 | 990 | $2,475 | — | — | |
| apartment | 2 | 2 | 1,150 | $2,680 | — | — | |
| apartment | 2 | 2 | 1,150 | $2,695 | — | — | |
| apartment | 2 | 2 | 1,150 | $2,690 | — | — | |
| apartment | 2 | 2 | 1,150 | $2,675 | — | — | |
| apartment | 2 | 2 | 985 | $2,400 | 2026-08-28 | — | |
| condos | 2 | 2 | 985 | $2,300 | 2026-08-26 | — | |
| apartment | 2 | 1 | 990 | $2,565 | — | — | |
| apartment | 2 | 1 | 990 | $2,465 | — | — | |
| apartment | 2 | 2 | 1,150 | $2,700 | — | — | |
| condos | 2 | 2 | 965 | $2,200 | 2026-08-31 | — | |
| condos | 2 | 2 | 1,470 | $3,200 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 8600 SW 109th Ave Unit 4-224 | condos | 2 | 3 | 1,140 | $265,000 | 2026-08-03 |
| 8415 SW 107th Ave Apt 146W | condos | 2 | 2 | 985 | $235,000 | 2026-07-10 |
| 8500 SW 109th Ave Unit 6-118 | condos | 2 | 2 | 945 | $236,000 | 2026-06-16 |
| 7226 SW 94th Pl Apt F7 | condos | 2 | 2 | 763 | $234,000 | 2026-05-22 |
| 9453 SW 76th St Apt S2 | condos | 2 | 2 | 936 | $235,000 | 2026-05-18 |
| 8025 SW 107th Ave Apt 213 | condos | 2 | 2 | 965 | $270,000 | 2026-05-14 |
| 8015 SW 107th Ave Apt 313 | condos | 2 | 2 | 965 | $260,000 | 2026-05-08 |
| 8401 SW 107th Ave Apt 111E | condos | 2 | 2 | 1,235 | $300,000 | 2026-04-24 |
| 8600 SW 109th Ave Unit 4-101 | condos | 2 | 2 | 1,140 | $250,000 | 2026-04-15 |
| 8045 SW 107th Ave Apt 303 | condos | 2 | 2 | 965 | $285,000 | 2026-03-30 |
| 7220 SW 94th Pl Apt G4 | condos | 2 | 2 | 763 | $215,000 | 2026-03-26 |
| 8075 SW 107th Ave Apt 210 | condos | 2 | 2 | 965 | $280,000 | 2026-03-11 |
| 8065 SW 107th Ave Apt 113 | condos | 2 | 2 | 965 | $265,000 | 2026-02-19 |
| 8415 SW 107th Ave Apt 270W | condos | 2 | 2 | 985 | $204,500 | 2026-02-02 |
| 8015 SW 107th Ave Apt 220 | condos | 2 | 2 | 965 | $260,000 | 2026-01-09 |
| 6415 SW 116th Pl | condos | 2 | 3 | 1,310 | $299,999 | 2025-12-26 |
| 9449 SW 76th St Apt T2 | condos | 2 | 2 | 936 | $288,000 | 2025-11-07 |
| 8415 SW 107th Ave Apt 335W | condos | 2 | 2 | 985 | $250,000 | 2025-10-31 |
| 8075 SW 107th Ave Apt 320 | condos | 2 | 2 | 965 | $280,000 | 2025-10-24 |
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 |
|---|---|---|---|---|---|---|
| 7024 SW 114th Pl Unit A52 | townhomes | 2 | 3 | 1,330 | $385,000 | — |
| 9429 SW 76th St Apt W25 | condos | 2 | 2 | 1,262 | $279,000 | — |
| 6201 SW 116th Pl Apt D | condos | 2 | 2 | 1,340 | $375,000 | — |
| 9449 SW 76th St Apt T5 | condos | 2 | 1 | 878 | $265,000 | — |
| 8500 SW 109th Ave Unit 6-220 | condos | 2 | 3 | 1,140 | $249,900 | — |
| 8415 SW 107th Ave Apt 303W | condos | 2 | 2 | 985 | $285,000 | — |
| 8886 SW 62nd Ter Unit 8A | townhomes | 2 | 3 | 1,780 | $625,000 | — |
| 8065 SW 107th Ave Apt 301 | condos | 2 | 2 | 965 | $275,000 | — |
10-year hold projection
IRR-5.4%
Equity multiple0.09x
Total return (10yr)-$31,342
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $334,750 | $2,457 | -$18,973 | $257,181 | $77,569 |
| 2 | $344,793 | $2,645 | -$18,819 | $254,168 | $90,624 |
| 3 | $355,136 | $2,842 | -$18,658 | $250,949 | $104,187 |
| 4 | $365,790 | $3,048 | -$18,488 | $247,508 | $118,282 |
| 5 | $376,764 | $3,263 | -$18,310 | $243,832 | $132,932 |
| 6 | $388,067 | $3,487 | -$18,124 | $239,902 | $148,165 |
| 7 | $399,709 | $3,722 | -$17,929 | $235,703 | $164,006 |
| 8 | $411,700 | $3,966 | -$17,724 | $231,216 | $180,484 |
| 9 | $424,051 | $4,222 | -$17,510 | $226,420 | $197,631 |
| 10 | $436,773 | $4,488 | -$17,285 | $221,295 | $215,478 |
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.