318 Majorca Ave Apt 304
Coral Gables, FL 33134 · condos · For Sale · 23 days on market
Asking price$207,500
0 beds 1 baths 408 sqft
Suggested offer$199,467$8,033 above the est. market value of $199,467.
View on Realtor.com →Listed by Fernando Garcia · Dumonde Consulting Group Llc
Typecondos
Built1964
Price / sqft$509
Est. value (own analysis)$199,467
Rent estimate (own analysis)$1,800/mo
HOA$390/mo
Wind10/10Extreme$Heat10/10ExtremeAir2/10MinorFlood1/10minimal$Wildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-10
Removed date—
MLSMiamiMLS #A12068601
Coordinates25.75487, -80.26166
Address318 Majorca Ave Apt 304
CityCoral Gables
StateFL
Zip33134
Listing ID6398019703
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 | $207,500 |
| Down payment (20.0%) | $41,500 |
| Loan amount | $166,000 |
| Closing costs (5.0%) | $10,375 |
| Total cash to close | $51,875 |
| Income | |
| Rent (comp-derived) | $1,800$21,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,656$19,872 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $329$3,943 |
| Insurance (est. scaled by flood & wind risk) | $208$2,490 |
| HOA dues | $390$4,680 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $90$1,080 |
| Total operating expenses | $1,016$12,193 |
| 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) | $90$1,080 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 0 | 1 | 500 | $1,200 | 2026-08-18 | — | |
| condos | 0 | 1 | 400 | $1,450 | 2026-06-26 | — | |
| apartment | 0 | 1 | 384 | $2,943 | 2024-04-12 | — | |
| apartment | 0 | 1 | 500 | $1,750 | 2026-08-06 | — | |
| apartment | 0 | 1 | 350 | $1,750 | 2026-07-24 | — | |
| apartment | 0 | 1 | 450 | $1,800 | 2026-08-11 | — | |
| condos | 0 | 1 | 450 | $1,950 | 2026-08-27 | — | |
| condos | 0 | 1 | 355 | $1,650 | 2026-07-24 | — | |
| condos | 0 | 1 | 450 | $1,950 | 2026-08-12 | — | |
| condos | 0 | 1 | 355 | $1,700 | 2026-06-17 | — | |
| condos | 0 | 1 | 420 | $1,825 | 2026-06-17 | — | |
| apartment | 0 | 2 | 500 | $1,700 | 2026-07-10 | — | |
| condos | 0 | 1 | 420 | $1,990 | 2026-08-02 | — | |
| condos | 0 | 1 | 440 | $1,950 | 2026-06-30 | — | |
| apartment | 0 | 1 | 384 | $2,614 | 2026-06-03 | — | |
| apartment | 0 | 1 | 384 | $2,720 | 2026-07-21 | — | |
| apartment | 0 | 1 | 395 | $1,785 | 2026-04-17 | — | |
| condos | 0 | 1 | 408 | $1,700 | 2026-08-31 | — | |
| apartment | 0 | 1 | 475 | $1,825 | 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 |
|---|---|---|---|---|---|---|
| 700 Biltmore Way Apt 314 | condos | 0 | 1 | 450 | $215,000 | 2026-07-30 |
| 124 Mendoza Ave Apt 6 | condos | 0 | 1 | 351 | $200,000 | 2026-07-10 |
| 126 Mendoza Ave Apt 5 | condos | 0 | 1 | 351 | $165,000 | 2026-07-01 |
| 700 Biltmore Way Apt 216 | condos | 0 | 1 | 440 | $218,000 | 2026-06-30 |
| 700 Biltmore Way Apt 1008 | condos | 0 | 1 | 450 | $220,000 | 2026-05-19 |
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 |
|---|---|---|---|---|---|---|
| 119 Menores Ave Unit 7A | condos | 0 | 1 | 275 | $159,900 | — |
| 124 Mendoza Ave Apt 4 | condos | 0 | 1 | 355 | $189,900 | — |
| 50 Menores Ave Apt 802 | condos | 0 | 1 | 583 | $275,000 | — |
| 700 Biltmore Way Apt 408 | condos | 0 | 1 | 450 | $229,900 | — |
| 119 Menores Ave Apt 2 | condos | 0 | 1 | 315 | $199,900 | — |
| 126 Mendoza Ave Apt 1 | condos | 0 | 1 | 351 | $182,000 | — |
| 119 Menores Ave Apt 11 | condos | 0 | 1 | 275 | $164,000 | — |
| 700 Biltmore Way Apt 308 | condos | 0 | 1 | 450 | $315,000 | — |
10-year hold projection
IRR2.4%
Equity multiple1.39x
Total return (10yr)$47,176
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $213,725 | $7,680 | -$6,202 | $164,200 | $49,525 |
| 2 | $220,137 | $7,971 | -$5,937 | $162,277 | $57,860 |
| 3 | $226,741 | $8,272 | -$5,663 | $160,221 | $66,520 |
| 4 | $233,543 | $8,585 | -$5,379 | $158,025 | $75,518 |
| 5 | $240,549 | $8,908 | -$5,085 | $155,677 | $84,872 |
| 6 | $247,766 | $9,242 | -$4,781 | $153,169 | $94,597 |
| 7 | $255,199 | $9,589 | -$4,465 | $150,488 | $104,711 |
| 8 | $262,855 | $9,947 | -$4,138 | $147,623 | $115,232 |
| 9 | $270,740 | $10,318 | -$3,799 | $144,561 | $126,180 |
| 10 | $278,863 | $10,702 | -$3,448 | $141,289 | $137,574 |
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.