650 NE 32nd St Unit 3901
Miami, FL 33137 · condos · For Sale · 65 days on market
Asking price$1,895,000
4 beds 5 baths 1,872 sqft
Listed by Talita Pinheiro · COMPASS
Typecondos
Built2018
Price / sqft$1012
Est. value (own analysis)$1,918,950
Rent estimate (own analysis)$12,000/mo
HOA$2,661/mo
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Statusfor_sale
Listed date2026-06-29
Removed date—
MLSMiamiMLS #A12040826
Coordinates25.80642, -80.18602
Address650 NE 32nd St Unit 3901
CityMiami
StateFL
Zip33137
Listing ID6515463791
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $1,895,000 |
| Down payment (20.0%) | $379,000 |
| Loan amount | $1,516,000 |
| Closing costs (5.0%) | $94,750 |
| Total cash to close | $473,750 |
| Income | |
| Rent (comp-derived) | $12,000$144,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $11,040$132,480 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,000$36,005 |
| Insurance (placeholder 0.8% of price) | $1,263$15,160 |
| HOA dues | $2,661$31,932 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $600$7,200 |
| Total operating expenses | $7,525$90,297 |
| 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) | $600$7,200 |
| 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 | 4 | 6 | 2,216 | $15,900 | 2026-08-14 | — | |
| condos | 4 | 4 | 2,007 | $12,750 | 2026-08-13 | — | |
| condos | 4 | 4 | 1,841 | $11,000 | 2026-08-12 | — | |
| condos | 4 | 5 | 1,871 | $11,500 | 2026-08-11 | — | |
| condos | 4 | 5 | 2,232 | $12,000 | 2026-07-17 | — | |
| condos | 4 | 4 | 2,201 | $11,500 | 2026-06-09 | — | |
| condos | 4 | 5 | 2,368 | $25,500 | 2026-05-20 | — | |
| apartment | 4 | 4 | 1,440 | $6,500 | 2026-08-24 | — | |
| condos | 4 | 5 | 1,871 | $11,000 | 2026-08-25 | — | |
| condos | 4 | 4 | 1,977 | $18,000 | 2026-01-27 | — | |
| condos | 4 | 5 | 2,232 | $12,000 | — | — | |
| condos | 4 | 5 | 1,871 | $13,500 | 2026-09-02 | — | |
| condos | 4 | 6 | 2,216 | $23,000 | 2026-09-01 | — |
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 NE 24th St Unit 3201 | condos | 4 | 6 | 2,686 | $2,800,000 | 2026-07-30 |
| 700 NE 24th St Unit 4801 | condos | 4 | 6 | 2,686 | $2,750,000 | 2026-07-14 |
| 700 NE 24th St Unit 4401 | condos | 4 | 6 | 2,663 | $2,550,000 | 2026-06-11 |
| 700 NE 24th St Unit 4802 | condos | 4 | 6 | 3,189 | $3,850,000 | 2026-05-29 |
| 700 NE 26th Ter Unit 4203 | condos | 4 | 6 | 3,788 | $4,000,000 | 2026-05-27 |
| 700 NE 24th St Unit 3801 | condos | 4 | 6 | 2,582 | $2,650,000 | 2026-05-15 |
| 788 NE 23rd St Unit 2001 | condos | 4 | 5 | — | $2,720,000 | 2026-05-08 |
| 700 NE 26th Ter Unit TH403 | condos | 4 | 7 | 4,401 | $4,100,000 | 2026-05-08 |
| 788 NE 23rd St Unit 5502 | condos | 4 | 5 | 3,492 | $4,000,000 | 2026-05-08 |
| 700 NE 24th St Unit 1101 | condos | 4 | 6 | 2,686 | $2,400,000 | 2026-04-14 |
| 788 NE 23rd St Unit 3301 | condos | 4 | 6 | 3,298 | $3,600,000 | 2026-03-26 |
| 700 NE 24th St Unit 2501 | condos | 4 | 6 | 2,686 | $2,575,000 | 2026-03-26 |
| 700 NE 24th St Unit 5207 | condos | 4 | 6 | 2,520 | $3,000,000 | 2026-03-20 |
| 700 NE 26th Ter Unit 3903 | condos | 4 | 6 | 3,796 | $3,900,000 | 2026-03-18 |
| 788 NE 23rd St Unit 1001 | condos | 4 | 5 | 2,743 | $2,800,000 | 2026-03-18 |
| 700 NE 24th St Unit 2301 | condos | 4 | 6 | 2,686 | $2,450,000 | 2026-03-04 |
| 700 NE 24th St Unit 5903 | condos | 4 | 6 | 2,895 | $3,980,000 | 2026-03-03 |
| 700 NE 24th St Unit 2101 | condos | 4 | 6 | 2,686 | $2,475,000 | 2026-02-06 |
| 700 NE 24th St Unit 1401 | condos | 4 | 6 | 2,978 | $2,400,000 | 2026-01-29 |
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 |
|---|---|---|---|---|---|---|
| 121 NE 34th St Ph 3217 | condos | 4 | 5 | 2,866 | $2,499,000 | — |
| 725 NE 24th St Unit 301 | condos | 4 | 6 | — | $2,498,900 | — |
| 480 NE 31st St Unit 5104 | condos | 4 | 5 | 2,792 | $3,295,000 | — |
| 456 NE 29th ST | condo | 4 | 4 | 3,063 | $3,554,000 | — |
| 480 NE 31st St Unit 5303 | condos | 4 | 5 | 2,418 | $2,999,990 | — |
| 621 NE 57th St | single_family | 4 | 4 | 2,633 | $2,000,000 | — |
| 700 NE 26th Ter Unit 4403 | condos | 4 | 6 | 3,788 | $4,988,888 | — |
| 725 NE 24th Street Miami, FL 33137 | condo | 4 | 5 | 2,880 | $2,836,900 | — |
10-year hold projection
IRR-1.4%
Equity multiple0.76x
Total return (10yr)$134,771
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,951,850 | $42,183 | -$81,924 | $1,499,563 | $452,287 |
| 2 | $2,010,406 | $43,900 | -$80,387 | $1,481,998 | $528,408 |
| 3 | $2,070,718 | $45,680 | -$78,791 | $1,463,226 | $607,492 |
| 4 | $2,132,839 | $47,524 | -$77,136 | $1,443,165 | $689,674 |
| 5 | $2,196,824 | $49,436 | -$75,418 | $1,421,727 | $775,098 |
| 6 | $2,262,729 | $51,418 | -$73,635 | $1,398,816 | $863,913 |
| 7 | $2,330,611 | $53,471 | -$71,785 | $1,374,332 | $956,279 |
| 8 | $2,400,529 | $55,599 | -$69,866 | $1,348,167 | $1,052,362 |
| 9 | $2,472,545 | $57,804 | -$67,876 | $1,320,205 | $1,152,340 |
| 10 | $2,546,722 | $60,088 | -$65,811 | $1,290,323 | $1,256,399 |
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.