8111 NE 1st Ave
Miami, FL 33138 · multi_family · For Sale · 175 days on market
Asking price$599,000
7 beds 3 baths 2,176 sqft
Listed by Benjamin Schwab · Keyrenters South Florida
Typemulti_family
Built—
Price / sqft$275
Est. value (Realtor.com)$685,200
Rent estimate (building total, own analysis)$6,724/mo
HOANone
1 / 33
Show every detail
Statusfor_sale
Listed date2026-03-11
Removed date—
MLSBeachesMLS #R11155403
Coordinates25.84937, -80.19515
Address8111 NE 1st Ave
CityMiami
StateFL
Zip33138
Listing ID6328156791
Sourcerealtor, cached 2026-08-21
ZIP market snapshot (33138)
Typical home value (ZHVI)$806,988
Typical rent (ZORI)$2,367/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 | $599,000 |
| Down payment (20.0%) | $119,800 |
| Loan amount | $479,200 |
| Closing costs (5.0%) | $29,950 |
| Total cash to close | $149,750 |
| Income | |
| Rent (estimate) | $6,724$80,686 |
| Vacancy loss (8.0%) | |
| Effective gross income | $6,186$74,231 |
| Operating expenses | |
| Property tax (real MLS tax bill, from Realtor Search) | $638$7,650 |
| Insurance (placeholder 0.8% of price) | $399$4,792 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $336$4,034 |
| Total operating expenses | $1,373$16,476 |
| 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) | $336$4,034 |
| 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 |
|---|---|---|---|---|---|---|
| 545 NE 64th St | multi_family | — | — | 1,440 | $840,000 | 2026-08-31 |
| 170 NE 68th Ter | multi_family | — | — | 1,376 | $480,000 | 2026-08-28 |
| 586 NE 62nd St | multi_family | 6 | 2 | 2,250 | $1,300,000 | 2026-08-06 |
| 7715 NE 5th Ave | multi_family | — | — | 2,346 | $1,160,000 | 2026-07-10 |
| 47 NE 80th Ter | multi_family | — | — | — | $750,000 | 2026-07-10 |
| 715 NE 92nd St Apt 4 | multi_family | 5 | 4 | 2,822 | $1,175,000 | 2026-07-10 |
| 747 NE 72nd St | multi_family | 4 | 2 | 1,535 | $1,100,000 | 2026-06-24 |
| 6820 NE 5th Ave | multi_family | 4 | 4 | 2,350 | $965,500 | 2026-06-15 |
| 645 NE 62nd St | multi_family | — | — | 1,491 | $745,000 | 2026-06-09 |
| 700 NE 87th St | multi_family | 2 | 1 | 2,226 | $965,000 | 2026-05-11 |
| 15 NE 70th St | multi_family | — | — | 1,640 | $725,000 | 2026-04-17 |
| 567 NE 82nd Ter | multi_family | 6 | 6 | 4,095 | $750,000 | 2026-04-14 |
| 813 NE 81st St | multi_family | 4 | 2 | 3,123 | $1,150,000 | 2026-04-10 |
| 8640 NE 2nd Ave | multi_family | — | — | 2,420 | $1,250,000 | 2026-04-10 |
| 71 NE 67th St | multi_family | — | — | 1,762 | $375,000 | 2026-03-11 |
| 440 NE 71st St | multi_family | 4 | 2 | 2,016 | $662,500 | 2026-03-02 |
| 6918 NE 5th Ave | multi_family | — | — | 2,057 | $550,000 | 2026-01-14 |
| 7530 NE 3rd Ave | multi_family | 4 | 2 | 1,448 | $430,000 | 2025-12-17 |
| 140 NE 77th St | multi_family | 6 | 2 | 2,324 | $460,000 | 2025-12-15 |
| 445 NE 76th St | multi_family | 5 | 2 | 1,968 | $1,690,000 | 2025-12-04 |
| 8960 NE 2nd Ave | multi_family | — | — | 1,834 | $1,200,000 | 2025-11-26 |
| 524 NE 71st St | multi_family | 4 | 2 | 2,150 | $690,000 | 2025-11-18 |
| 70 NE 63rd St | multi_family | 2 | 2 | 1,617 | $3,150,000 | 2025-10-29 |
| 6250 NE 1st Ave | multi_family | 5 | 1 | 3,004 | $3,150,000 | 2025-10-29 |
| 6255 NE Miami Pl | multi_family | — | — | — | $3,150,000 | 2025-10-27 |
| 539 NE 82nd Ter | multi_family | — | — | 3,964 | $1,100,000 | 2025-10-09 |
| 145 NE 80th Ter | multi_family | — | — | — | $1,250,000 | 2025-10-03 |
| 3 NE 75th St | multi_family | — | — | 1,994 | $525,000 | 2025-09-15 |
| 10538 NE 4th Ave | multi_family | — | — | 2,820 | $1,072,000 | 2025-09-04 |
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 |
|---|---|---|---|---|---|---|
| 905 Belle Meade Island Dr | single_family | 7 | 9 | 8,600 | $29,000,000 | — |
| 8701 NE 8th Ct | multi_family | 7 | 3 | 2,664 | $1,175,000 | — |
| 1036 NE 89th St | single_family | 7 | 6 | 3,268 | $8,000,000 | — |
| 1133 Belle Meade Island Dr | single_family | 7 | 6 | 7,435 | $22,899,800 | — |
| 1051 NE 89th St | single_family | 7 | 7 | 6,288 | $5,549,000 | — |
10-year hold projection
IRR20.1%
Equity multiple4.01x
Total return (10yr)$528,995
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $616,970 | $57,755 | $16,767 | $474,004 | $142,966 |
| 2 | $635,479 | $59,570 | $18,481 | $468,452 | $167,027 |
| 3 | $654,543 | $61,441 | $20,249 | $462,518 | $192,025 |
| 4 | $674,180 | $63,371 | $22,073 | $456,177 | $218,003 |
| 5 | $694,405 | $65,361 | $23,954 | $449,401 | $245,005 |
| 6 | $715,237 | $67,413 | $25,895 | $442,159 | $273,079 |
| 7 | $736,694 | $69,528 | $27,896 | $434,419 | $302,275 |
| 8 | $758,795 | $71,710 | $29,961 | $426,149 | $332,647 |
| 9 | $781,559 | $73,959 | $32,090 | $417,310 | $364,249 |
| 10 | $805,006 | $76,278 | $34,286 | $407,864 | $397,142 |
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.