5800 NE 3rd Ave
Miami, FL 33137 · multi_family · For Sale · 37 days on market
Asking price$699,000
4 beds 2 baths 1,540 sqft
Suggested offer$537,327$161,673 above the est. market value of $537,327.
View on Realtor.com →Listed by Joseph Azar · Douglas Elliman - 5555 Biscayne Blvd
Typemulti_family
Built1957
Price / sqft$454
Est. value (own analysis)$537,327
Rent estimate (building total, own analysis)$7,043/mo
HOANone
1 / 32
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Statusfor_sale
Listed date2026-07-27
Removed date—
MLSMiamiMLS #A12060412
Coordinates25.82872, -80.19011
Address5800 NE 3rd Ave
CityMiami
StateFL
Zip33137
Listing ID6037258844
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $699,000 |
| Down payment (20.0%) | $139,800 |
| Loan amount | $559,200 |
| Closing costs (5.0%) | $34,950 |
| Total cash to close | $174,750 |
| Income | |
| Rent (estimate) | $7,043$84,513 |
| Vacancy loss (8.0%) | |
| Effective gross income | $6,479$77,752 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,107$13,281 |
| Insurance (placeholder 0.8% of price) | $466$5,592 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $352$4,226 |
| Total operating expenses | $1,925$23,099 |
| 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) | $352$4,226 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| multi_family | 4 | 2 | 1,686 | $3,400 | 2026-08-24 | — |
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 |
|---|---|---|---|---|---|---|
| 614 NE 27th St | multi_family | 4 | 2 | 2,792 | $43,131,000 | 2026-06-16 |
| 35 NE 59th St Apt 1 | multi_family | 4 | 4 | 3,704 | $945,000 | 2026-05-28 |
| 5603 NE Miami Ct | multi_family | 4 | 4 | 2,300 | $773,400 | 2026-05-04 |
| 5641 NE Miami Ct | multi_family | 4 | 2 | 1,519 | $530,000 | 2026-05-04 |
| 2 NE 56th St | multi_family | 4 | 4 | 2,112 | $773,400 | 2026-05-04 |
| 19 NE 48th St | multi_family | 4 | 2 | 2,224 | $1,270,000 | 2025-12-26 |
| 121 NE 46th St | multi_family | 4 | 1 | 2,520 | $700,000 | 2025-12-05 |
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.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 121 NE 34th St Ph 3217 | condos | 4 | 5 | 2,866 | $2,499,000 | — |
| 725 NE 24th St Unit 301 | condos | 4 | 6 | — | $2,498,900 | — |
| 480 NE 31st St Unit 5104 | condos | 4 | 5 | 2,792 | $3,295,000 | — |
| 456 NE 29th ST | condo | 4 | 4 | 3,063 | $3,554,000 | — |
| 480 NE 31st St Unit 5303 | condos | 4 | 5 | 2,418 | $2,999,990 | — |
| 621 NE 57th St | single_family | 4 | 4 | 2,633 | $2,000,000 | — |
| 700 NE 26th Ter Unit 4403 | condos | 4 | 6 | 3,788 | $4,988,888 | — |
| 725 NE 24th Street Miami, FL 33137 | condo | 4 | 5 | 2,880 | $2,836,900 | — |
10-year hold projection
IRR14.4%
Equity multiple3.21x
Total return (10yr)$477,633
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $719,970 | $54,654 | $7,305 | $553,137 | $166,833 |
| 2 | $741,569 | $56,409 | $8,955 | $546,658 | $194,911 |
| 3 | $763,816 | $58,219 | $10,657 | $539,733 | $224,083 |
| 4 | $786,731 | $60,087 | $12,414 | $532,334 | $254,397 |
| 5 | $810,333 | $62,014 | $14,227 | $524,426 | $285,907 |
| 6 | $834,643 | $64,002 | $16,099 | $515,975 | $318,668 |
| 7 | $859,682 | $66,053 | $18,030 | $506,943 | $352,738 |
| 8 | $885,472 | $68,169 | $20,023 | $497,292 | $388,180 |
| 9 | $912,036 | $70,351 | $22,080 | $486,978 | $425,059 |
| 10 | $939,398 | $72,602 | $24,202 | $475,955 | $463,442 |
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.