1650 Coral Way Apt 507
Miami, FL 33145 · condos · For Sale · 20 days on market
Asking price$430,000
1 beds 2 baths 1,030 sqft
Listed by The Santa Maria Group-Marcela Santa Maria Realtor · Remax 5 Star Realty
Typecondos
Built2002
Price / sqft$417
Est. value (own analysis)$439,467
Rent estimate (own analysis)$2,700/mo
HOA$1,260/mo
Wind10/10Extreme$Heat10/10ExtremeFlood3/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-13
Removed date—
MLSMiamiMLS #A12070165
Coordinates25.75058, -80.22126
Address1650 Coral Way Apt 507
CityMiami
StateFL
Zip33145
Listing ID6117909986
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33145)
Typical home value (ZHVI)$735,527
Typical rent (ZORI)$3,018/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 | $430,000 |
| Down payment (20.0%) | $86,000 |
| Loan amount | $344,000 |
| Closing costs (5.0%) | $21,500 |
| Total cash to close | $107,500 |
| Income | |
| Rent (comp-derived) | $2,700$32,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,484$29,808 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $681$8,170 |
| Insurance (est. scaled by flood & wind risk) | $459$5,504 |
| HOA dues | $1,260$15,120 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $135$1,620 |
| Total operating expenses | $2,535$30,414 |
| 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) | $135$1,620 |
| 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 | 1 | 1 | 694 | $2,600 | 2026-08-21 | — | |
| condos | 1 | 1 | 792 | $3,000 | 2026-08-20 | — | |
| apartment | 1 | 1 | 808 | $2,790 | 2024-11-21 | — | |
| condos | 1 | 1 | 750 | $2,500 | 2026-08-19 | — | |
| condos | 1 | 1 | 770 | $2,500 | 2026-08-16 | — | |
| condos | 1 | 1 | 694 | $2,800 | 2026-08-10 | — | |
| apartment | 1 | 1 | 1,000 | $1,600 | 2026-08-05 | — | |
| condos | 1 | 1 | 692 | $2,700 | 2026-07-27 | — | |
| apartment | 1 | 1 | 1,000 | $1,800 | 2026-07-23 | — | |
| apartment | 1 | 1 | 675 | $1,895 | 2026-07-21 | — | |
| condos | 1 | 2 | 831 | $2,800 | 2026-07-17 | — | |
| condos | 1 | 1 | 694 | $2,400 | 2026-07-14 | — | |
| condos | 1 | 1 | 770 | $2,750 | 2026-07-14 | — | |
| condos | 1 | 1 | 770 | $2,400 | 2026-07-03 | — | |
| condos | 1 | 1 | 756 | $2,800 | 2026-06-17 | — | |
| condos | 1 | 2 | 831 | $2,600 | 2026-07-30 | — | |
| apartment | 1 | 1 | 856 | $2,790 | — | — | |
| apartment | 1 | 1 | 672 | $2,636 | — | — | |
| apartment | 1 | 1 | 808 | $2,875 | — | — | |
| apartment | 1 | 1 | 1,269 | $2,050 | 2026-08-24 | — | |
| condos | 1 | 2 | 833 | $2,900 | 2026-04-01 | — | |
| apartment | 1 | 1 | 884 | $2,400 | 2026-08-25 | — | |
| apartment | 1 | 1 | 808 | $2,885 | — | — | |
| apartment | 1 | 1 | 808 | $2,885 | — | — | |
| apartment | 1 | 1 | 808 | $2,865 | — | — | |
| apartment | 1 | 1 | 698 | $3,237 | — | — | |
| condos | 1 | 1 | 770 | $2,550 | 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 |
|---|---|---|---|---|---|---|
| 2280 SW 32nd Ave Apt 509 | condos | 1 | 1 | 686 | $280,000 | 2026-08-26 |
| 3000 Coral Way Apt 1409 | condos | 1 | 1 | 816 | $325,000 | 2026-08-11 |
| 3180 Coral Way Apt 902 | condos | 1 | 1 | 745 | $332,000 | 2026-08-06 |
| 3000 Coral Way Apt 813 | condos | 1 | 1 | 816 | $335,000 | 2026-08-05 |
| 3530 SW 22nd St Apt 614 | condos | 1 | 1 | 714 | $350,000 | 2026-07-30 |
| 3500 Coral Way Apt 1112 | condos | 1 | 1 | 594 | $275,000 | 2026-07-14 |
| 3000 Coral Way Apt 919 | condos | 1 | 1 | 785 | $340,000 | 2026-07-10 |
| 1401 SW 22nd St Apt 1503 | condos | 1 | 1 | 714 | $360,000 | 2026-06-18 |
| 2150 SW 16th Ave Apt 108 | condos | 1 | 1 | 694 | $217,500 | 2026-06-16 |
| 2301 SW 27th Ave Apt 1202 | condos | 1 | 1 | 689 | $309,000 | 2026-06-08 |
| 3000 Coral Way Apt 519 | condos | 1 | 1 | 785 | $346,000 | 2026-06-08 |
| 3232 Coral Way Apt 905 | condos | 1 | 1 | 792 | $339,000 | 2026-05-26 |
| 3181 SW 13th St Apt 416 | condos | 1 | 1 | 620 | $199,000 | 2026-05-15 |
| 3000 Coral Way Apt 513 | condos | 1 | 1 | 816 | $280,000 | 2026-04-21 |
| 2351 Douglas Rd Apt 505 | condos | 1 | 2 | 750 | $320,000 | 2026-04-20 |
| 3410 Coral Way Apt 904 | condos | 1 | 1 | 486 | $210,000 | 2026-03-20 |
| 3181 SW 13th St Apt 407 | condos | 1 | 1 | 620 | $190,000 | 2026-03-02 |
| 3000 Coral Way Apt 815 | condos | 1 | 1 | 752 | $317,500 | 2026-02-27 |
| 3410 Coral Way Apt 804 | condos | 1 | 1 | 486 | $210,000 | 2026-02-18 |
| 2400 SW 27th Ave Apt 406 | condos | 1 | 2 | 760 | $302,500 | 2026-02-11 |
| 3181 SW 13th St Apt 114 | condos | 1 | 1 | 620 | $185,000 | 2026-02-11 |
| 2496 SW 17th Ave Apt 5306 | condos | 1 | 1 | 611 | $198,500 | 2026-01-29 |
| 3000 Coral Way Apt 1121 | condos | 1 | 1 | 824 | $367,500 | 2026-01-27 |
| 3181 SW 13th St Apt 314 | condos | 1 | 1 | 620 | $191,000 | 2026-01-06 |
| 3000 Coral Way Apt 1505 | condos | 1 | 1 | 816 | $350,000 | 2025-12-26 |
| 3000 Coral Way Apt 715 | condos | 1 | 1 | 752 | $315,000 | 2025-11-19 |
| 2465 SW 18th Ave Apt 3307 | condos | 1 | 1 | 611 | $220,000 | 2025-11-07 |
| 3000 Coral Way Apt 1105 | condos | 1 | 1 | 786 | $344,500 | 2025-10-21 |
| 3500 Coral Way Apt 1402 | condos | 1 | 1 | 615 | $290,000 | 2025-10-15 |
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 |
|---|---|---|---|---|---|---|
| 2190 SW 14th Ter | multi_family | 1 | 2 | 3,290 | $1,600,000 | — |
| 1650 Coral Way Apt 510 | condos | 1 | 1 | 770 | $375,000 | — |
| 2441 SW 31st Ave Apt 303 | condos | 1 | 1 | 558 | $240,000 | — |
| 1400 SW 27th Ave Apt 202 | condos | 1 | 1 | 672 | $229,500 | — |
| 3180 SW 22nd Ter Ph 203 | condos | 1 | 1 | 700 | $399,900 | — |
| 3232 SW 22nd Ter Unit 1607 | condos | 1 | 1 | 792 | $345,000 | — |
| 2465 SW 18th Ave Apt 3208 | condos | 1 | 1 | 611 | $225,000 | — |
| 3000 Coral Way Apt 1007 | condos | 1 | 1 | 752 | $335,000 | — |
10-year hold projection
IRR-7.7%
Equity multiple-0.30x
Total return (10yr)-$83,357
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $442,900 | -$606 | -$28,754 | $340,270 | $102,630 |
| 2 | $456,187 | -$472 | -$28,660 | $336,284 | $119,903 |
| 3 | $469,873 | -$330 | -$28,560 | $332,025 | $137,848 |
| 4 | $483,969 | -$181 | -$28,453 | $327,473 | $156,496 |
| 5 | $498,488 | -$22 | -$28,338 | $322,608 | $175,880 |
| 6 | $513,442 | $145 | -$28,216 | $317,409 | $196,033 |
| 7 | $528,846 | $321 | -$28,085 | $311,853 | $216,992 |
| 8 | $544,711 | $507 | -$27,946 | $305,916 | $238,795 |
| 9 | $561,052 | $703 | -$27,798 | $299,571 | $261,482 |
| 10 | $577,884 | $910 | -$27,641 | $292,790 | $285,094 |
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.