1942 SE 23rd Ter
Homestead, FL 33035 · townhomes · For Sale · 61 days on market
Asking price$279,999
2 beds 3 baths 1,431 sqft
Listed by Moises Saca · Best American Realty Corp
Typetownhomes
Built2006
Price / sqft$196
Est. value (own analysis)$306,818
Rent estimate (own analysis)$2,050/mo
HOA$680/mo
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Statusfor_sale
Listed date2026-07-03
Removed date—
MLSMiamiMLS #A12047774
Coordinates25.45323, -80.44289
Address1942 SE 23rd Ter
CityHomestead
StateFL
Zip33035
Listing ID6407943816
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33035)
Typical home value (ZHVI)$331,237
Typical rent (ZORI)$2,328/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 | $279,999 |
| Down payment (20.0%) | $56,000 |
| Loan amount | $223,999 |
| Closing costs (5.0%) | $14,000 |
| Total cash to close | $70,000 |
| Income | |
| Rent (comp-derived) | $2,050$24,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,886$22,632 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $443$5,320 |
| Insurance (placeholder 0.8% of price) | $187$2,240 |
| HOA dues | $680$8,160 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $103$1,230 |
| Total operating expenses | $1,413$16,950 |
| 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) | $103$1,230 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 2 | 3 | 1,166 | $1,850 | 2026-06-23 | — | |
| townhomes | 2 | 3 | 1,166 | $1,900 | 2026-07-06 | — | |
| townhomes | 2 | 2 | 1,166 | $2,000 | 2026-07-25 | — | |
| townhomes | 2 | 3 | 1,166 | $2,100 | 2026-08-10 | — | |
| townhomes | 2 | 3 | 1,065 | $1,900 | 2026-06-03 | — | |
| townhomes | 2 | 2 | 1,329 | $2,275 | 2026-06-24 | — | |
| townhomes | 2 | 2 | 1,174 | $2,000 | 2026-01-14 | — | |
| townhomes | 2 | 3 | 1,166 | $2,200 | 2025-10-08 | — | |
| townhomes | 2 | 2 | 951 | $2,200 | 2026-03-30 | — | |
| townhomes | 2 | 4 | 1,815 | $2,800 | 2026-03-16 | — |
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 |
|---|---|---|---|---|---|---|
| 1614 SE 31st Ct | townhomes | 2 | 3 | 1,166 | $229,000 | 2026-08-24 |
| 3400 San Remo Cir | townhomes | 2 | 2 | 951 | $252,500 | 2026-07-31 |
| 1633 Greer Ave | townhomes | 2 | 2 | 1,174 | $309,000 | 2026-07-27 |
| 1958 SE 24th Ter | townhomes | 2 | 2 | 1,431 | $258,000 | 2026-07-01 |
| 1621 SE 30th St | townhomes | 2 | 3 | 1,166 | $250,000 | 2026-06-12 |
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 |
|---|---|---|---|---|---|---|
| 2931 SE 12th Rd Unit 205-55 | condos | 2 | 2 | 815 | $175,900 | — |
| 1260 SE 31st Ct Unit 105-34 | condos | 2 | 2 | 822 | $179,000 | — |
| 2604 SE 19th Ct Unit 202A | condos | 2 | 2 | 1,040 | $180,000 | — |
| 2651 SE 12th Rd Unit 105 | condos | 2 | 2 | 822 | $199,000 | — |
| 1617 SE 30th St | townhomes | 2 | 3 | 1,166 | $220,000 | — |
| 2910 SE 13th Rd Unit 105-44 | condos | 2 | 2 | 822 | $205,000 | — |
| 1512 SE 31st Ct Unit 1512 | townhomes | 2 | 3 | 1,166 | $275,000 | — |
| 1271 SE 28th Ct Unit 105 | condos | 2 | 2 | 822 | $199,900 | — |
10-year hold projection
IRR-2.1%
Equity multiple0.66x
Total return (10yr)$12,678
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $288,399 | $5,682 | -$12,822 | $221,571 | $66,828 |
| 2 | $297,051 | $5,937 | -$12,597 | $218,975 | $78,076 |
| 3 | $305,962 | $6,202 | -$12,364 | $216,201 | $89,761 |
| 4 | $315,141 | $6,477 | -$12,121 | $213,237 | $101,904 |
| 5 | $324,596 | $6,763 | -$11,869 | $210,070 | $114,526 |
| 6 | $334,333 | $7,059 | -$11,606 | $206,684 | $127,649 |
| 7 | $344,363 | $7,367 | -$11,333 | $203,067 | $141,297 |
| 8 | $354,694 | $7,686 | -$11,050 | $199,201 | $155,494 |
| 9 | $365,335 | $8,018 | -$10,755 | $195,069 | $170,266 |
| 10 | $376,295 | $8,361 | -$10,448 | $190,654 | $185,642 |
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.