1021 NW 3rd St Apt 106
Miami, FL 33128 · condos · Pending — under contract · 63 days on market
Asking price$120,000
1 beds 1 baths 465 sqft
Listed by IRMA GARCIA · Xcellence Realty
Typecondos
Built1930
Price / sqft$258
Est. value (own analysis)$150,513
Rent estimate (own analysis)$3,200/mo
HOA$203/mo
1 / 25
⚠ Cap rate of 23.1% is above the 20% sanity ceiling — verify the underlying price, rent, and expense data before trusting this. Cash-on-cash return of 61.4% is above the 50% sanity ceiling for a standard buy-and-hold — verify inputs before trusting this.
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Statusfor_sale
Listed date2026-07-02
Removed date—
MLSMiamiMLS #A12046862
Coordinates25.77678, -80.21201
Address1021 NW 3rd St Apt 106
CityMiami
StateFL
Zip33128
Listing ID6416326727
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33128)
Typical home value (ZHVI)$433,117
Typical rent (ZORI)$2,681/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 | $120,000 |
| Down payment (20.0%) | $24,000 |
| Loan amount | $96,000 |
| Closing costs (5.0%) | $6,000 |
| Total cash to close | $30,000 |
| Income | |
| Rent (comp-derived) | $3,200$38,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,944$35,328 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $190$2,280 |
| Insurance (placeholder 0.8% of price) | $80$960 |
| HOA dues | $203$2,436 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $160$1,920 |
| Total operating expenses | $633$7,596 |
| 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) | $160$1,920 |
| 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 | 1 | 1 | 530 | $3,200 | 2026-08-21 | — | |
| condos | 1 | 1 | 526 | $3,200 | 2026-08-21 | — | |
| condos | 1 | 1 | 465 | $1,375 | 2026-08-20 | — | |
| condos | 1 | 1 | 558 | $3,400 | 2026-08-17 | — | |
| condos | 1 | 1 | 465 | $1,400 | 2026-08-14 | — | |
| apartment | 1 | 1 | 550 | $1,650 | 2026-08-14 | — | |
| condos | 1 | 1 | 468 | $3,500 | 2026-08-06 | — | |
| condos | 1 | 1 | 468 | $3,500 | 2026-08-06 | — | |
| condos | 1 | 1 | 527 | $3,200 | 2026-07-27 | — | |
| apartment | 1 | 1 | 472 | $1,900 | 2026-07-27 | — | |
| condos | 1 | 1 | 526 | $3,300 | 2026-07-23 | — | |
| condos | 1 | 1 | 527 | $3,200 | 2026-07-18 | — | |
| apartment | 1 | 1 | 560 | $1,825 | 2026-06-30 | — | |
| condos | 1 | 1 | 558 | $3,500 | 2026-06-05 | — | |
| condos | 1 | 1 | 530 | $4,000 | 2026-05-21 | — | |
| condos | 1 | 1 | 609 | $1,600 | 2026-07-29 | — | |
| condos | 1 | 1 | 530 | $3,400 | 2026-07-28 | — | |
| apartment | 1 | 1 | 551 | $2,100 | 2026-01-21 | — | |
| apartment | 1 | 1 | 582 | $2,200 | 2024-05-19 | — | |
| apartment | 1 | 1 | 615 | $1,400 | 2026-03-13 | — | |
| condos | 1 | 1 | 530 | $3,000 | 2026-03-26 | — | |
| condos | 1 | 1 | 471 | $3,500 | 2026-03-24 | — | |
| condos | 1 | 1 | 530 | $3,200 | — | — | |
| condos | 1 | 1 | 526 | $3,200 | — | — | |
| condos | 1 | 1 | 620 | $2,100 | — | — | |
| condos | 1 | 1 | 620 | $2,400 | 2026-08-24 | — | |
| condos | 1 | 1 | 530 | $3,400 | — | — | |
| apartment | 1 | 1 | 624 | $2,357 | — | — | |
| apartment | 1 | 1 | 550 | $1,675 | 2024-09-10 | — | |
| apartment | 1 | 1 | 550 | $1,750 | 2026-09-01 | — | |
| condos | 1 | 1 | 468 | $3,400 | 2026-09-01 | — |
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 219 NW 12th Ave Apt 607 | condos | 2 | 2 | 794 | $220,000 | 2026-08-07 |
| 219 NW 12th Ave Apt 1003 | condos | 2 | 2 | 808 | $220,000 | 2026-08-07 |
| 219 NW 12th Ave Apt 1007 | condos | 2 | 2 | 794 | $220,000 | 2026-08-07 |
| 225 N Miami Ave Apt 3502 | condos | 1 | 1 | 558 | $510,000 | 2026-04-28 |
| 219 NW 12th Ave Apt 707 | condos | 2 | 2 | 794 | $288,000 | 2026-03-23 |
| 1043 NW 2nd St Apt 13 | condos | 2 | 1 | 715 | $190,000 | 2025-12-19 |
| 36 NW 6th Ave Apt 806 | condos | 2 | 2 | 950 | $350,000 | 2025-12-15 |
| 219 NW 12th Ave Apt 809 | condos | 1 | 1 | 510 | $240,000 | 2025-11-30 |
| 36 NW 6th Ave Apt 706 | condos | 2 | 2 | 950 | $307,500 | 2025-10-03 |
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 |
|---|---|---|---|---|---|---|
| 225 N Miami Ave Apt 1702 | condos | 1 | 1 | 468 | $550,000 | — |
| 225 N Miami Ave Apt 1407 | condos | 1 | 1 | 530 | $490,000 | — |
| 225 N Miami Ave Apt 210 | condos | 1 | 1 | 527 | $500,000 | — |
| 218 NW 12th Ave Apt 802 | condos | 1 | 1 | 718 | $230,000 | — |
| 1110 NW 1st St Apt 607 | condos | 1 | 1 | 639 | $349,000 | — |
| 652 NW 3rd St Apt 305 | condos | 1 | 1 | 609 | $175,000 | — |
| 1110 NW 1st St Apt 409 | condos | 1 | 1 | 681 | $329,000 | — |
| 225 N Miami Ave Apt 1102 | condos | 1 | 1 | 558 | $529,000 | — |
10-year hold projection
IRR66.1%
Equity multiple9.81x
Total return (10yr)$279,915
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $123,600 | $27,732 | $18,409 | $94,959 | $28,641 |
| 2 | $127,308 | $28,602 | $19,231 | $93,847 | $33,461 |
| 3 | $131,127 | $29,499 | $20,079 | $92,658 | $38,469 |
| 4 | $135,061 | $30,424 | $20,953 | $91,388 | $43,673 |
| 5 | $139,113 | $31,377 | $21,855 | $90,030 | $49,083 |
| 6 | $143,286 | $32,361 | $22,785 | $88,580 | $54,707 |
| 7 | $147,585 | $33,374 | $23,745 | $87,029 | $60,556 |
| 8 | $152,012 | $34,420 | $24,734 | $85,372 | $66,640 |
| 9 | $156,573 | $35,497 | $25,755 | $83,602 | $72,971 |
| 10 | $161,270 | $36,609 | $26,808 | $81,709 | $79,561 |
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.