12500 NE 15th Ave Apt 402
North Miami, FL 33161 · condos · For Sale · 48 days on market
Asking price$150,000
2 beds 2 baths 1,050 sqft
Listed by Richard Todd Feldman, Broker/Owner · Miami Waterfront Realty
Typecondos
Built1972
Price / sqft$143
Est. value (own analysis)$177,665
Rent estimate (own analysis)$2,190/mo
HOA$1,058/mo
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Statusfor_sale
Listed date2026-07-16
Removed date—
MLSMiamiMLS #A12054270
Coordinates25.89081, -80.16864
Address12500 NE 15th Ave Apt 402
CityNorth Miami
StateFL
Zip33161
Listing ID6336235797
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33161)
Typical home value (ZHVI)$498,596
Typical rent (ZORI)$2,323/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 | $150,000 |
| Down payment (20.0%) | $30,000 |
| Loan amount | $120,000 |
| Closing costs (5.0%) | $7,500 |
| Total cash to close | $37,500 |
| Income | |
| Rent (comp-derived) | $2,190$26,280 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,015$24,178 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $238$2,850 |
| Insurance (placeholder 0.8% of price) | $100$1,200 |
| HOA dues | $1,058$12,696 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $110$1,314 |
| Total operating expenses | $1,505$18,060 |
| 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) | $110$1,314 |
| 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.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| condos | 2 | 1 | 1,100 | $2,200 | 2026-08-19 | — | |
| apartment | 2 | 1 | 751 | $2,300 | 2026-08-18 | — | |
| condos | 2 | 2 | 987 | $2,250 | 2026-08-17 | — | |
| apartment | 2 | 2 | 1,000 | $2,000 | 2026-08-17 | — | |
| apartment | 2 | 1 | 900 | $2,100 | 2026-08-11 | — | |
| condos | 2 | 2 | 760 | $2,200 | 2026-08-24 | — | |
| apartment | 2 | 1 | 780 | $2,500 | 2026-08-06 | — | |
| condos | 2 | 2 | 1,045 | $1,995 | 2026-08-05 | — | |
| condos | 2 | 2 | 952 | $1,750 | 2026-07-15 | — | |
| apartment | 2 | 1 | 1,100 | $2,250 | 2026-07-06 | — | |
| apartment | 2 | 1 | 1,100 | $2,250 | 2026-07-03 | — | |
| apartment | 2 | 2 | 1,020 | $2,590 | 2026-06-29 | — | |
| condos | 2 | 1 | 1,311 | $2,000 | 2026-06-20 | — | |
| apartment | 2 | 1 | 860 | $1,750 | 2026-06-11 | — | |
| apartment | 2 | 1 | 700 | $2,450 | 2026-06-06 | — | |
| apartment | 2 | 2 | 1,000 | $2,500 | 2026-05-20 | — | |
| condos | 2 | 2 | 952 | $2,000 | 2026-07-31 | — | |
| condos | 2 | 2 | 952 | $1,800 | 2026-07-29 | — | |
| condos | 2 | 2 | 800 | $1,790 | 2026-07-28 | — | |
| condos | 2 | 2 | 800 | $1,900 | 2026-01-14 | — | |
| condos | 2 | 2 | 1,029 | $2,550 | 2026-04-24 | — | |
| apartment | 2 | 2 | 1,000 | $2,459 | 2025-10-10 | — | |
| apartment | 2 | 2 | 951 | $2,327 | — | — | |
| apartment | 2 | 2 | 951 | $2,165 | — | — | |
| apartment | 2 | 2 | 949 | $2,077 | — | — | |
| apartment | 2 | 2 | 949 | $2,092 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,644 | — | — | |
| apartment | 2 | 2 | 951 | $2,230 | — | — | |
| condos | 2 | 2 | 985 | $2,200 | 2026-08-27 | — | |
| apartment | 2 | 2 | 1,000 | $3,650 | 2026-08-27 | — | |
| condos | 2 | 1 | 860 | $1,800 | 2026-08-27 | — | |
| apartment | 2 | 2 | 901 | $2,800 | 2024-10-15 | — | |
| apartment | 2 | 2 | 1,020 | $2,750 | 2022-06-21 | — | |
| condos | 2 | 2 | 860 | $1,800 | 2026-08-10 | — | |
| condos | 2 | 2 | 890 | $2,050 | 2026-04-04 | — | |
| apartment | 2 | 1 | 850 | $1,775 | 2026-07-09 | — | |
| condos | 2 | 2 | 1,113 | $2,200 | 2026-04-10 | — | |
| condos | 2 | 2 | 1,113 | $1,900 | 2026-07-10 | — | |
| apartment | 2 | 1 | 850 | $2,100 | 2026-08-25 | — | |
| apartment | 2 | 1 | 875 | $2,695 | 2026-06-18 | — | |
| apartment | 2 | 1 | 830 | $2,000 | 2026-08-19 | — | |
| condos | 2 | 2 | 985 | $2,400 | 2026-06-17 | — | |
| apartment | 2 | 1 | 1,090 | $2,150 | 2026-07-22 | — | |
| condos | 2 | 2 | 1,091 | $1,900 | 2026-08-07 | — | |
| apartment | 2 | 1 | 900 | $2,100 | 2026-08-19 | — | |
| apartment | 2 | 1 | 910 | $1,900 | 2026-07-22 | — | |
| condos | 2 | 2 | 880 | $1,999 | 2026-05-24 | — | |
| apartment | 2 | 1 | 850 | $1,999 | 2026-07-18 | — | |
| condos | 2 | 1 | 1,025 | $1,900 | 2026-06-22 | — | |
| apartment | 2 | 1 | 900 | $1,825 | 2026-07-20 | — | |
| apartment | 2 | 2 | 901 | $3,100 | 2026-07-29 | — | |
| apartment | 2 | 2 | 740 | $2,560 | 2025-08-10 | — | |
| apartment | 2 | 2 | 949 | $2,077 | — | — | |
| apartment | 2 | 2 | 951 | $2,189 | — | — | |
| apartment | 2 | 2 | 951 | $2,190 | — | — | |
| apartment | 2 | 2 | 951 | $2,165 | — | — | |
| apartment | 2 | 2 | 949 | $2,087 | — | — | |
| apartment | 2 | 2 | 951 | $2,190 | — | — | |
| apartment | 2 | 2 | 949 | $2,125 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,808 | — | — | |
| apartment | 2 | 2 | 951 | $2,332 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,666 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,841 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,841 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,836 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,766 | — | — | |
| apartment | 2 | 2 | 1,045 | $2,836 | — | — | |
| apartment | 2 | 2 | 1,000 | $3,000 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 1470 NE 123rd St Unit A701 | condos | 2 | 2 | 1,260 | $245,000 | 2026-08-31 |
| 11905 NE 2nd Ave Unit C403 | condos | 2 | 2 | 1,046 | $165,000 | 2026-08-06 |
| 11905 NE 2nd Ave Unit C411 | condos | 2 | 2 | 1,046 | $130,000 | 2026-07-31 |
| 1310 NE 117th Ter Unit 2 | condos | 2 | 2 | 1,700 | $565,000 | 2026-07-21 |
| 12035 NE 2nd Ave Unit A423 | condos | 2 | 2 | 928 | $100,000 | 2026-07-13 |
| 1470 NE 123rd St Unit A1107 | condos | 2 | 2 | 1,182 | $200,000 | 2026-07-07 |
| 11905 NE 2nd Ave Unit C308 | condos | 2 | 2 | 860 | $154,000 | 2026-06-16 |
| 14234 NE 3rd Ct Unit 11C | condos | 2 | 2 | 1,200 | $250,000 | 2026-05-18 |
| 555 NE 123rd St Unit 218A | condos | 2 | 2 | 1,009 | $279,000 | 2026-02-10 |
| 650 NE 149th St Apt 110A | condos | 2 | 2 | 860 | $130,000 | 2026-01-30 |
| 13500 NE 3rd Ct Apt 423 | condos | 2 | 2 | 920 | $170,000 | 2025-12-15 |
| 11925 NE 2nd Ave Unit B309 | condos | 2 | 2 | 1,046 | $139,900 | 2025-11-10 |
| 11905 NE 2nd Ave Unit C315 | condos | 2 | 2 | 860 | $145,000 | 2025-10-23 |
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 |
|---|---|---|---|---|---|---|
| 10860 NE 11th Ave | single_family | 2 | 1 | 1,021 | $825,000 | — |
| 1289 NE 146th St | single_family | 2 | 1 | 591 | $699,999 | — |
| 14241 Memorial Highway 9F | condos | 2 | 2 | 1,182 | $264,995 | — |
| 1350 NE 119th St Unit 135021 | condos | 2 | 2 | 952 | $165,000 | — |
| 1251 NE 108th St Apt 423 | condos | 2 | 2 | 1,010 | $250,000 | — |
| 274 NE 141st St Unit 3C | townhomes | 2 | 2 | 1,200 | $250,000 | — |
| 14310 NE 5th Pl | single_family | 2 | 2 | 1,160 | $330,000 | — |
| 14225 Memorial Hwy # 1F | townhomes | 2 | 2 | 1,182 | $295,000 | — |
10-year hold projection
IRR2.9%
Equity multiple1.46x
Total return (10yr)$37,027
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $154,500 | $6,118 | -$4,450 | $118,699 | $35,801 |
| 2 | $159,135 | $6,391 | -$4,209 | $117,309 | $41,826 |
| 3 | $163,909 | $6,676 | -$3,959 | $115,823 | $48,086 |
| 4 | $168,826 | $6,971 | -$3,698 | $114,235 | $54,591 |
| 5 | $173,891 | $7,277 | -$3,427 | $112,538 | $61,353 |
| 6 | $179,108 | $7,595 | -$3,145 | $110,724 | $68,383 |
| 7 | $184,481 | $7,925 | -$2,852 | $108,786 | $75,695 |
| 8 | $190,016 | $8,268 | -$2,548 | $106,715 | $83,300 |
| 9 | $195,716 | $8,623 | -$2,232 | $104,502 | $91,214 |
| 10 | $201,587 | $8,992 | -$1,903 | $102,137 | $99,451 |
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.