4450 W Flagler St
Miami, FL 33134 · multi_family · Pending — under contract · 37 days on market
Asking price$1,000,000
4 beds 4 baths 2,103 sqft
Listed by Bryan Mizrahi · Luxe Properties
Typemulti_family
Built1955
Price / sqft$476
Est. value (own analysis)$1,023,227
Rent estimate (building total, own analysis)$7,999/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-07-27
Removed date—
MLSMiamiMLS #A12060255
Coordinates25.77130, -80.26876
Address4450 W Flagler St
CityMiami
StateFL
Zip33134
Listing ID6328867993
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33134)
Typical home value (ZHVI)$887,965
Typical rent (ZORI)$3,095/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 | $1,000,000 |
| Down payment (20.0%) | $200,000 |
| Loan amount | $800,000 |
| Closing costs (5.0%) | $50,000 |
| Total cash to close | $250,000 |
| Income | |
| Rent (estimate) | $7,999$95,990 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,359$88,311 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,583$19,000 |
| Insurance (est. scaled by flood & wind risk) | $1,067$12,800 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $400$4,799 |
| Total operating expenses | $3,050$36,599 |
| 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) | $400$4,799 |
| 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 |
|---|---|---|---|---|---|---|---|
| multi_family | 4 | 2 | 1,686 | $3,400 | 2026-08-24 | — |
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 |
|---|---|---|---|---|---|---|
| 3731 SW 27th St | multi_family | 4 | 2 | 1,715 | $812,000 | 2026-04-21 |
| 1231 Columbus Blvd | multi_family | 4 | 1 | 2,366 | $1,600,000 | 2026-04-13 |
| 4100 SW 9th Ter | multi_family | 4 | 2 | 1,562 | $760,000 | 2025-09-09 |
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 |
|---|---|---|---|---|---|---|
| 4701 SW 7th St | single_family | 4 | 3 | 1,830 | $750,000 | — |
| 4870 SW 6th St | single_family | 4 | 3 | 1,682 | $700,000 | — |
| 3788 SW 27th Ln | multi_family | 4 | 2 | 1,980 | $1,250,000 | — |
| 5330 SW 7th St | single_family | 4 | 3 | 2,424 | $2,500,000 | — |
| 2893-2895 SW 37th Ct | multi_family | 4 | 3 | 1,935 | $915,000 | — |
| 4251 SW 11th St | single_family | 4 | 4 | 3,736 | $2,990,000 | — |
| 2841 SW 38th Ct Unit B | townhomes | 4 | 4 | 2,671 | $1,950,000 | — |
| 3750 SW 27th St | multi_family | 4 | 2 | 1,690 | $1,174,999 | — |
10-year hold projection
IRR6.7%
Equity multiple2.06x
Total return (10yr)$394,659
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,030,000 | $51,711 | -$14,781 | $791,326 | $238,674 |
| 2 | $1,060,900 | $53,445 | -$13,166 | $782,057 | $278,843 |
| 3 | $1,092,727 | $55,236 | -$11,498 | $772,151 | $320,576 |
| 4 | $1,125,509 | $57,086 | -$9,775 | $761,564 | $363,944 |
| 5 | $1,159,274 | $58,995 | -$7,995 | $750,251 | $409,023 |
| 6 | $1,194,052 | $60,967 | -$6,155 | $738,161 | $455,891 |
| 7 | $1,229,874 | $63,003 | -$4,255 | $725,241 | $504,633 |
| 8 | $1,266,770 | $65,106 | -$2,292 | $711,433 | $555,337 |
| 9 | $1,304,773 | $67,276 | -$264 | $696,677 | $608,096 |
| 10 | $1,343,916 | $69,517 | $1,831 | $680,908 | $663,008 |
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.