1864 NW 28th St
Miami, FL 33142 · multi_family · For Sale · 27 days on market
Asking price$1,375,000
6 beds 4 baths 3,200 sqft
Suggested offer$893,360$481,640 above the est. market value of $893,360.
View on Realtor.com →Listed by Rodrigo Fortuna · Fortuna Properties Group Inc
Typemulti_family
Built1976
Price / sqft$430
Est. value (own analysis)$893,360
Rent estimate (building total, own analysis)$8,032/mo
HOANone
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Statusfor_sale
Listed date2026-08-06
Removed date—
MLSMiamiMLS #A12065559
Coordinates25.80176, -80.22692
Address1864 NW 28th St
CityMiami
StateFL
Zip33142
Listing ID6279189343
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33142)
Typical home value (ZHVI)$430,103
Typical rent (ZORI)$2,350/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 | $1,375,000 |
| Down payment (20.0%) | $275,000 |
| Loan amount | $1,100,000 |
| Closing costs (5.0%) | $68,750 |
| Total cash to close | $343,750 |
| Income | |
| Rent (estimate) | $8,032$96,384 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,389$88,673 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $2,177$26,125 |
| Insurance (placeholder 0.8% of price) | $917$11,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $402$4,819 |
| Total operating expenses | $3,495$41,944 |
| 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) | $402$4,819 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 1247 NW 28th St | multi_family | 6 | 4 | 2,316 | $591,000 | 2026-07-31 |
| 2512 NW 13th Ave | multi_family | 6 | 2 | 1,764 | $580,000 | 2026-04-21 |
| 2180 NW 59th St | multi_family | 6 | 2 | 1,988 | $555,000 | 2026-01-26 |
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 |
|---|---|---|---|---|---|---|
| 2180 NW 30th St | multi_family | 6 | 5 | 2,652 | $600,000 | — |
| 5859 NW 13th Ave | multi_family | 6 | 4 | 2,300 | $750,000 | — |
| 1243 NW 29th Ter | multi_family | 6 | 3 | 1,792 | $775,000 | — |
| 4491 NW 23rd Ave | multi_family | 6 | 4 | 2,184 | $755,000 | — |
| 2323 NW 55th Ter | multi_family | 6 | 6 | 2,400 | $795,000 | — |
| 1895 NW 47th Ter | multi_family | 6 | 4 | 2,300 | $795,000 | — |
| 3376 NW 49th St | multi_family | 6 | 3 | 1,926 | $650,000 | — |
| 1810 NW 46th St | multi_family | 6 | 6 | 4,664 | $1,550,000 | — |
10-year hold projection
IRR1.8%
Equity multiple1.29x
Total return (10yr)$281,000
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,416,250 | $46,729 | -$42,917 | $1,088,073 | $328,177 |
| 2 | $1,458,738 | $48,341 | -$41,426 | $1,075,328 | $383,410 |
| 3 | $1,502,500 | $50,006 | -$39,884 | $1,061,707 | $440,792 |
| 4 | $1,547,575 | $51,726 | -$38,290 | $1,047,151 | $500,423 |
| 5 | $1,594,002 | $53,504 | -$36,642 | $1,031,596 | $562,406 |
| 6 | $1,641,822 | $55,341 | -$34,939 | $1,014,972 | $626,850 |
| 7 | $1,691,077 | $57,238 | -$33,177 | $997,206 | $693,870 |
| 8 | $1,741,809 | $59,198 | -$31,357 | $978,221 | $763,588 |
| 9 | $1,794,063 | $61,224 | -$29,475 | $957,931 | $836,132 |
| 10 | $1,847,885 | $63,316 | -$27,529 | $936,249 | $911,636 |
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.