242 SW 15th Ave
Miami, FL 33135 · multi_family · For Sale · 93 days on market
Asking price$1,325,000
10 beds 5 baths 2,946 sqft
Suggested offer$1,028,891$296,110 above the est. market value of $1,028,891.
View on Realtor.com →Listed by Alvaro Suarez · Hot House Team
Typemulti_family
Built1929
Price / sqft$450
Est. value (own analysis)$1,028,891
Rent estimate (building total, own analysis)$8,964/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-06-01
Removed date—
MLSMiamiMLS #A12027946
Coordinates25.77056, -80.21983
Address242 SW 15th Ave
CityMiami
StateFL
Zip33135
Listing ID6289228402
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33135)
Typical home value (ZHVI)$531,790
Typical rent (ZORI)$2,051/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 | $1,325,000 |
| Down payment (20.0%) | $265,000 |
| Loan amount | $1,060,000 |
| Closing costs (5.0%) | $66,250 |
| Total cash to close | $331,250 |
| Income | |
| Rent (estimate) | $8,964$107,572 |
| Vacancy loss (8.0%) | |
| Effective gross income | $8,247$98,966 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $2,098$25,175 |
| Insurance (est. scaled by flood & wind risk) | $1,413$16,960 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $448$5,379 |
| Total operating expenses | $3,959$47,514 |
| 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) | $448$5,379 |
| 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.
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 1200 SW 31st Ave | multi_family | — | — | 2,079 | $1,050,000 | 2026-08-31 |
| 3501 SW 12th St | multi_family | — | — | 2,430 | $930,000 | 2026-08-28 |
| 3431-3433 SW 4th St | multi_family | — | — | 3,429 | $1,150,000 | 2026-08-28 |
| 3230 SW 4th St | multi_family | — | — | 4,135 | $1,130,000 | 2026-08-10 |
| 700 SW 33rd Ave | multi_family | 5 | 2 | 2,648 | $1,355,000 | 2026-08-03 |
| 333 SW 30th Ave | multi_family | — | — | 2,231 | $730,000 | 2026-08-03 |
| 2416 SW 12th St | multi_family | 4 | 2 | 2,588 | $867,500 | 2026-07-31 |
| 240 Beacom Blvd | multi_family | 4 | 2 | 2,540 | $500,000 | 2026-07-29 |
| 2600 SW 2nd St | multi_family | — | — | 2,625 | $700,000 | 2026-07-27 |
| 1233 SW 13th Ave | multi_family | 6 | 6 | 5,136 | $1,555,000 | 2026-07-22 |
| 1487 SW 4th St | multi_family | 8 | 8 | 4,480 | $2,000,000 | 2026-07-21 |
| 2722 SW 5th St | multi_family | 4 | 4 | 1,952 | $870,000 | 2026-07-09 |
| 2930 SW 11th St | multi_family | 4 | 4 | 1,986 | $882,000 | 2026-07-02 |
| 3300-3302 SW 10th St | multi_family | — | — | 3,282 | $844,000 | 2026-06-30 |
| 120 SW 20th Ave | multi_family | 6 | 6 | 2,304 | $881,250 | 2026-06-26 |
| 3270 SW 7th St | multi_family | — | — | 2,752 | $960,000 | 2026-06-18 |
| 1232 SW 30th Pl | multi_family | — | — | 1,344 | $738,000 | 2026-06-15 |
| 710 SW 33rd Ave | multi_family | — | — | 2,982 | $1,355,000 | 2026-06-15 |
| 414 SW 15th Ave | multi_family | — | — | — | $1,200,000 | 2026-06-11 |
| 1212-1214 SW 30th Ct | multi_family | — | — | 1,623 | $775,000 | 2026-05-29 |
| 900 SW 22nd Ave | multi_family | 4 | 2 | 1,832 | $650,000 | 2026-05-22 |
| 1293 SW 22nd Ave | multi_family | 5 | 3 | 2,025 | $1,140,000 | 2026-05-19 |
| 200 SW 20th Ave | multi_family | 6 | 4 | 1,990 | $666,000 | 2026-05-19 |
| 2101 SW 6th St | multi_family | 8 | 4 | 3,250 | $975,000 | 2026-05-13 |
| 901 SW 34th Ave | multi_family | — | — | 1,392 | $580,000 | 2026-05-05 |
| 2222 SW 2nd St | multi_family | 5 | 3 | 2,769 | $550,000 | 2026-04-27 |
| 2915 SW 4th St | multi_family | — | — | 2,320 | $875,000 | 2026-04-15 |
| 1721 SW 11th Ter | multi_family | 8 | 4 | 4,461 | $1,520,000 | 2026-04-02 |
| 635 SW 19th Ave | multi_family | 5 | 5 | 3,419 | $855,000 | 2026-04-01 |
| 1666-1668 SW 9th St | multi_family | — | — | 2,212 | $980,000 | 2026-03-25 |
| 1334 SW 4th St | multi_family | — | — | 2,651 | $725,000 | 2026-03-24 |
| 950 SW 13th Ct | multi_family | — | — | 2,068 | $738,000 | 2026-03-19 |
| 327 SW 13th Ave | multi_family | — | — | 3,381 | $1,100,000 | 2026-03-16 |
| 1345 SW 3rd St | multi_family | 12 | 6 | 4,548 | $1,650,000 | 2026-02-24 |
| 1632 SW 7th St | multi_family | 6 | 5 | 2,793 | $5,550,000 | 2026-01-23 |
| 1642 SW 7th St | multi_family | 8 | 8 | 3,180 | $5,550,000 | 2026-01-23 |
| 1558 SW 3rd St | multi_family | 10 | 4 | 4,414 | $754,425 | 2026-01-07 |
| 2472 SW 10th St | multi_family | 7 | 6 | 3,782 | $3,040,000 | 2026-01-06 |
| 312 SW 32nd Ave | multi_family | — | — | 2,960 | $950,000 | 2025-12-22 |
| 1554 SW 5th St | multi_family | — | — | — | $2,287,500 | 2025-12-18 |
| 1640 SW 4th St | multi_family | 5 | 5 | 2,395 | $4,250,000 | 2025-12-18 |
| 415 SW 32nd Ave | multi_family | 8 | 8 | 5,682 | $2,682,400 | 2025-12-01 |
| 417 SW 32nd Ave Apt 4 | multi_family | 8 | 8 | 5,682 | $2,682,400 | 2025-12-01 |
| 2737 SW 2nd St | multi_family | 8 | 8 | 5,188 | $1,600,000 | 2025-12-01 |
| 3340 SW 7th St | multi_family | — | — | 2,549 | $840,000 | 2025-11-30 |
| 1475 SW 7th St | multi_family | 8 | 4 | 3,638 | $1,150,000 | 2025-11-26 |
| 831 SW 14th Ave | multi_family | — | — | 3,356 | $820,000 | 2025-11-21 |
| 1678 SW 11th St | multi_family | — | — | 4,900 | $1,200,000 | 2025-11-18 |
| 2916-2918 SW 3rd St | multi_family | — | — | 2,388 | $835,000 | 2025-11-12 |
| 2500 SW 11th St | multi_family | — | — | 2,550 | $875,000 | 2025-11-12 |
Widened to city-wide. 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 |
|---|---|---|---|---|---|---|
| 1800 NW 19th Ter | multi_family | 10 | 6 | 4,138 | $1,650,000 | — |
| multi_family | 10 | 8 | 3,693 | $1,250,000 | — | |
| 450 SW 9th St | multi_family | 10 | 6 | 4,484 | $1,200,000 | — |
| 934 SW 3rd St | multi_family | 10 | 7 | 4,188 | $1,775,000 | — |
| 1761 SW 14th St | single_family | 10 | 9 | 3,050 | $1,600,000 | — |
| 9302 NW 4th Ave | multi_family | 10 | 12 | 6,938 | $1,800,000 | — |
| 1238 SW 4th St | multi_family | 10 | 6 | — | $1,850,000 | — |
10-year hold projection
IRR3.1%
Equity multiple1.50x
Total return (10yr)$338,028
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,364,750 | $51,453 | -$35,668 | $1,048,507 | $316,243 |
| 2 | $1,405,693 | $53,234 | -$34,022 | $1,036,225 | $369,467 |
| 3 | $1,447,863 | $55,074 | -$32,319 | $1,023,100 | $424,764 |
| 4 | $1,491,299 | $56,976 | -$30,558 | $1,009,073 | $482,226 |
| 5 | $1,536,038 | $58,941 | -$28,738 | $994,083 | $541,955 |
| 6 | $1,582,119 | $60,972 | -$26,856 | $978,063 | $604,056 |
| 7 | $1,629,583 | $63,069 | -$24,910 | $960,944 | $668,639 |
| 8 | $1,678,470 | $65,237 | -$22,899 | $942,649 | $735,822 |
| 9 | $1,728,824 | $67,477 | -$20,819 | $923,097 | $805,727 |
| 10 | $1,780,689 | $69,790 | -$18,669 | $902,203 | $878,486 |
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.