12904 Banyan Rd
North Miami, FL 33181 · single_family · For Sale · 581 days on market
Asking price$4,999,000
5 beds 5 baths 3,908 sqft
Suggested offer$4,210,693$788,307 above the est. market value of $4,210,693.
View on Realtor.com →Listed by Richard Todd Feldman, Broker/Owner · Miami Waterfront Realty
Typesingle_family
Built1961
Price / sqft$1279
Est. value (own analysis)$4,210,693
Rent estimate (own analysis)$5,500/mo
HOANone
1 / 88
Show every detail
Statusfor_sale
Listed date2025-01-29
Removed date—
MLSMiamiMLS #A11722549
Coordinates25.89473, -80.15858
Address12904 Banyan Rd
CityNorth Miami
StateFL
Zip33181
Listing ID6221121300
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33181)
Typical home value (ZHVI)$321,152
Typical rent (ZORI)$2,429/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 | $4,999,000 |
| Down payment (20.0%) | $999,800 |
| Loan amount | $3,999,200 |
| Closing costs (5.0%) | $249,950 |
| Total cash to close | $1,249,750 |
| Income | |
| Rent (comp-derived) | $5,500$66,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,060$60,720 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $7,915$94,981 |
| Insurance (placeholder 0.8% of price) | $3,333$39,992 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $275$3,300 |
| Total operating expenses | $11,523$138,273 |
| 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) | $275$3,300 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 2 | 1,519 | $5,000 | 2025-09-13 | — | |
| single_family | 5 | 2 | 1,600 | $4,000 | 2026-08-14 | — | |
| single_family | 5 | 3 | 1,525 | $3,700 | 2026-07-02 | — | |
| single_family | 5 | 4 | 1,979 | $6,000 | 2026-05-04 | — | |
| single_family | 5 | 5 | 3,908 | $26,000 | 2026-04-28 | — | |
| single_family | 5 | 3 | 3,705 | $23,000 | 2025-11-03 | — |
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 |
|---|---|---|---|---|---|---|
| 2085 Keystone Blvd | single_family | 5 | 7 | 4,919 | $5,300,000 | 2026-08-07 |
| 2040 NE 121st Rd | single_family | 5 | 2 | 4,818 | $5,150,000 | 2026-07-28 |
| 2125 Ixora Rd | single_family | 5 | 5 | 4,147 | $4,600,000 | 2026-05-14 |
| 1940 NE 119th Rd | single_family | 5 | 4 | 3,668 | $4,250,000 | 2026-04-02 |
| 1995 NE 118th Rd | single_family | 5 | 5 | 5,671 | $12,200,000 | 2026-03-16 |
| 1960 NE 118th Rd | single_family | 5 | 4 | 4,219 | $3,672,000 | 2025-12-27 |
| 2330 Magnolia Dr | single_family | 5 | 4 | 3,038 | $3,150,000 | 2025-09-16 |
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 |
|---|---|---|---|---|---|---|
| 2001 NE 122nd Rd | single_family | 5 | 4 | 2,943 | $1,699,000 | — |
| 2161 NE 124th St | single_family | 5 | 6 | 3,102 | $3,750,000 | — |
| 12880 N Bayshore Dr | single_family | 5 | 4 | 4,956 | $7,575,000 | — |
| 1895 NE 118th Rd | single_family | 5 | 4 | 3,715 | $3,350,000 | — |
| 1982 NE 119th Rd | single_family | 5 | 4 | 3,245 | $12,750,000 | — |
| 2060 S Hibiscus Dr | single_family | 5 | 7 | — | $7,950,000 | — |
| 12941 Auralia Rd | single_family | 5 | 4 | 2,096 | $2,700,000 | — |
10-year hold projection
IRR-10.8%
Equity multiple-0.85x
Total return (10yr)-$1,659,427
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,148,970 | -$77,553 | -$389,252 | $3,955,840 | $1,193,130 |
| 2 | $5,303,439 | -$79,188 | -$390,970 | $3,909,502 | $1,393,937 |
| 3 | $5,462,542 | -$80,855 | -$392,722 | $3,859,982 | $1,602,560 |
| 4 | $5,626,419 | -$82,555 | -$394,508 | $3,807,061 | $1,819,357 |
| 5 | $5,795,211 | -$84,287 | -$396,328 | $3,750,507 | $2,044,704 |
| 6 | $5,969,067 | -$86,052 | -$398,185 | $3,690,069 | $2,278,999 |
| 7 | $6,148,139 | -$87,851 | -$400,078 | $3,625,480 | $2,522,660 |
| 8 | $6,332,584 | -$89,685 | -$402,007 | $3,556,456 | $2,776,128 |
| 9 | $6,522,561 | -$91,554 | -$403,974 | $3,482,692 | $3,039,869 |
| 10 | $6,718,238 | -$93,458 | -$405,979 | $3,403,863 | $3,314,375 |
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.