1221 SW 122nd Ave Apt 403
Miami, FL 33184 · condos · For Sale · 14 days on market
Asking price$349,900
3 beds 2 baths 1,168 sqft
Suggested offer$253,360$96,540 above the est. market value of $253,360.
View on Realtor.com →Listed by Antonio Gutierrez · Carmona Realty Group, Llc
Typecondos
Built1988
Price / sqft$300
Est. value (own analysis)$253,360
Rent estimate (own analysis)$3,200/mo
HOA$458/mo
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Statusfor_sale
Listed date2026-08-19
Removed date—
MLSMiamiMLS #A12073132
Coordinates25.75726, -80.39027
Address1221 SW 122nd Ave Apt 403
CityMiami
StateFL
Zip33184
Listing ID6541639221
Sourceus-real-estate-listings, cached 2026-09-02
ZIP market snapshot (33184)
Typical home value (ZHVI)$569,847
Typical rent (ZORI)$3,033/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 | $349,900 |
| Down payment (20.0%) | $69,980 |
| Loan amount | $279,920 |
| Closing costs (5.0%) | $17,495 |
| Total cash to close | $87,475 |
| 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) | $554$6,648 |
| Insurance (placeholder 0.8% of price) | $233$2,799 |
| HOA dues | $458$5,496 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $160$1,920 |
| Total operating expenses | $1,405$16,863 |
| 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 | 3 | 2 | 1,084 | $2,600 | 2026-08-21 | — | |
| condos | 3 | 2 | 1,203 | $3,200 | 2026-07-16 | — | |
| apartment | 3 | 2 | 1,506 | $4,000 | 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 |
|---|---|---|---|---|---|---|
| 1121 SW 122nd Ave Unit 112-2 | condos | 3 | 2 | 1,070 | $290,000 | 2026-08-14 |
| 1465 SW 122nd Ave Unit 1-19 | condos | 3 | 3 | 1,313 | $260,000 | 2026-05-04 |
| 5269825484 | condos | 3 | 2 | 1,194 | $259,000 | 2025-09-17 |
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 |
|---|---|---|---|---|---|---|
| 1481 SW 124th Ct Unit 7C | condos | 3 | 3 | 1,420 | $490,000 | — |
| 305 SW 134th Ct | single_family | 3 | 3 | 1,866 | $939,000 | — |
| 12480 SW 9th St | single_family | 3 | 2 | 1,849 | $595,000 | — |
| 1000 SW 136th Pl | single_family | 3 | 2 | 1,687 | $630,000 | — |
| 13210 SW 12th St | single_family | 3 | 2 | 1,638 | $750,000 | — |
| 12621 SW 9th St | single_family | 3 | 3 | 1,920 | $514,900 | — |
| 11970 SW 4th Ter | single_family | 3 | 2 | 1,000 | $549,900 | — |
| 11941 SW 4th St | single_family | 3 | 2 | 1,540 | $625,000 | — |
10-year hold projection
IRR6.8%
Equity multiple2.09x
Total return (10yr)$140,705
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $360,397 | $18,465 | -$5,041 | $276,885 | $83,512 |
| 2 | $371,209 | $19,103 | -$4,451 | $273,642 | $97,567 |
| 3 | $382,345 | $19,762 | -$3,841 | $270,176 | $112,170 |
| 4 | $393,816 | $20,444 | -$3,210 | $266,472 | $127,344 |
| 5 | $405,630 | $21,148 | -$2,557 | $262,513 | $143,117 |
| 6 | $417,799 | $21,876 | -$1,883 | $258,283 | $159,516 |
| 7 | $430,333 | $22,627 | -$1,185 | $253,762 | $176,571 |
| 8 | $443,243 | $23,404 | -$465 | $248,931 | $194,312 |
| 9 | $456,540 | $24,206 | $281 | $243,768 | $212,772 |
| 10 | $470,236 | $25,035 | $1,051 | $238,250 | $231,986 |
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.