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18600 NE 7th Ct

North Miami Beach, FL 33179 · single_family · For Sale · 588 days on market
Asking price$1,200,000
6 beds 5 baths 3,960 sqft
View on Realtor.com →
Listed by Roy Benmeir · One Sotheby's International Realty
Typesingle_family
Built1963
Price / sqft$303
Est. value (own analysis)$2,935,846
Rent estimate (own analysis)$17,000/mo
HOANone
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Neighborhood

Show every detail
Statusfor_sale
Listed date2025-01-22
Removed date—
MLSMiamiMLS #A11729470
Coordinates25.94595, -80.18536
Address18600 NE 7th Ct
CityNorth Miami Beach
StateFL
Zip33179
Listing ID6405811311
Sourceus-real-estate-listings, cached 2026-09-02

ZIP market snapshot (33179)

Typical home value (ZHVI)$274,207
Typical rent (ZORI)$2,257/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$1,200,000
Down payment (20.0%)$240,000
Loan amount$960,000
Closing costs (5.0%)$60,000
Total cash to close$300,000
Income
Rent (comp-derived)$17,000$204,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$204,000
Vacancy rate (assumption) assumption8.0%

$204,000 × 8.0% = $16,320

Effective gross income$15,640$187,680
Operating expenses
Property tax (placeholder 1.9% of price)$1,900$22,800
Insurance (placeholder 0.8% of price)$800$9,600
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$850$10,200
Total operating expenses$3,550$42,600
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$187,680
Total operating expenses derived$42,600

$187,680 − $42,600 = $145,080

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$960,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$960,000 amortized at 6.7% over 30 years = $6,169/mo

CapEx reserve (5.0% of GSR)$850$10,200
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$145,080
Annual debt service derived$74,031
Annual CapEx reserve assumption$10,200
Annual PMI assumption$0

($145,080 − $74,031 − $10,200 − $0) ÷ 12 = $5,071

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$145,080
Purchase price data$1,200,000

$145,080 ÷ $1,200,000 = 12.1%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived$60,849
Total cash to close derived$300,000

$60,849 ÷ $300,000 = 20.3%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$145,080
Annual debt service derived$74,031

$145,080 ÷ $74,031 = 1.96

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$204,000
Purchase price data$1,200,000

($204,000 ÷ 12) ÷ $1,200,000 = 1.4%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,200,000
Gross scheduled rent (annual) comp$204,000

$1,200,000 ÷ $204,000 = 5.9

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$42,600
Effective gross income derived$187,680

$42,600 ÷ $187,680 = 22.7%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$42,600
Annual debt service derived$74,031
Annual PMI assumption$0
Gross scheduled rent (annual) comp$204,000

($42,600 + $74,031 + $0) ÷ $204,000 = 57.2%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family673,603$26,0002026-05-07—
single_family675,125$14,0002026-04-27—
single_family654,200$17,0002026-03-31—

1830 NE 193rd St

Miami, 33179 · rent comp

Bedrooms / bathrooms6 bd / 7 ba
Square footage3,603
Listed2026-05-07
Days on market—

Asking rent: $26,000

View on Zillow →

19471 NE 14th Ct

Miami, 33179 · rent comp

Bedrooms / bathrooms6 bd / 7 ba
Square footage5,125
Listed2026-04-27
Days on market—

Asking rent: $14,000

View on Zillow →

20100 NE 20th Ct Unit 0

Miami, 33179 · rent comp

Bedrooms / bathrooms6 bd / 5 ba
Square footage4,200
Listed2026-03-31
Days on market—

Asking rent: $17,000

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
1572 NE 194th Stsingle_family664,437$3,400,0002026-04-30
21480 Highland Lakes Blvd # 21480single_family673,312$2,161,0002026-04-24
1940 NE 193rd Stsingle_family664,787$4,116,2002025-12-26
19411 Presidential Waysingle_family654,174$3,094,5002025-12-22
2070 NE 194th Tersingle_family676,894$4,400,0002025-10-20

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.

AddressTypeBedsBathsSqftAsking priceDays on market
1830 NE 193rd Stsingle_family673,603$4,126,000—
19200 NE 14th Ctsingle_family664,735$3,408,990—
19625 NE 14th Avesingle_family664,735$3,464,765—
19200 NE 14th Ctsingle_family664,735$3,408,990—
1977 S Oak Haven Cirsingle_family664,495$2,800,000—
19616 NE 14th Ctsingle_family664,400$3,750,000—
19914 NE 19th Ctsingle_family675,911$3,600,000—

10-year hold projection

IRR27.8%
Equity multiple5.06x
Total return (10yr)$1,375,305
YearProperty valueNOICash flowLoan balanceEquity
1$1,236,000$145,080$60,849$949,591$286,409
2$1,273,080$149,645$65,160$938,468$334,612
3$1,311,272$154,353$69,606$926,581$384,691
4$1,350,611$159,207$74,193$913,878$436,733
5$1,391,129$164,213$78,924$900,302$490,827
6$1,432,863$169,375$83,804$885,794$547,069
7$1,475,849$174,697$88,837$870,289$605,559
8$1,520,124$180,185$94,029$853,720$666,404
9$1,565,728$185,843$99,385$836,013$729,715
10$1,612,700$191,678$104,909$817,090$795,609
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.