1223 NE 181st St
North Miami Beach, FL 33162 · single_family · For Sale · 594 days on market
Asking price$890,000
2 beds 1 baths 880 sqft
Suggested offer$370,857$519,143 above the est. market value of $370,857.
View on Realtor.com →Listed by Javier Gaitan · Beachfront Realty Inc
Typesingle_family
Built1956
Price / sqft$1011
Est. value (own analysis)$370,857
Rent estimate (own analysis)$2,900/mo
HOANone
1 / 18
Show every detail
Statusfor_sale
Listed date2025-01-16
Removed date—
MLSMiamiMLS #A11726670
Coordinates25.94220, -80.17612
Address1223 NE 181st St
CityNorth Miami Beach
StateFL
Zip33162
Listing ID6547123764
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33162)
Typical home value (ZHVI)$472,330
Typical rent (ZORI)$2,262/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 | $890,000 |
| Down payment (20.0%) | $178,000 |
| Loan amount | $712,000 |
| Closing costs (5.0%) | $44,500 |
| Total cash to close | $222,500 |
| Income | |
| Rent (comp-derived) | $2,900$34,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,668$32,016 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,409$16,910 |
| Insurance (placeholder 0.8% of price) | $593$7,120 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $145$1,740 |
| Total operating expenses | $2,148$25,770 |
| 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) | $145$1,740 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 2 | 1 | 1,184 | $2,400 | 2026-08-03 | — | |
| single_family | 2 | 1 | 897 | $2,900 | 2026-08-17 | — | |
| single_family | 2 | 2 | 900 | $3,000 | 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 |
|---|---|---|---|---|---|---|
| 15250 NE 2nd Ave | single_family | 2 | 2 | 1,025 | $465,000 | 2026-08-21 |
| 345 NE 168th St | single_family | 2 | 1 | 702 | $195,000 | 2026-08-17 |
| 1635 NE 160th St | single_family | 2 | 1 | 976 | $430,000 | 2026-08-14 |
| 1991 NE 178th St | single_family | 2 | 1 | 880 | $430,000 | 2026-08-11 |
| 651 NE 172nd St | single_family | 2 | 1 | 2,237 | $1,449,000 | 2026-08-07 |
| 15206 NE 8th Ave | single_family | 2 | 1 | 850 | $510,000 | 2026-07-24 |
| 190 NE 173rd St | single_family | 2 | 2 | 1,513 | $700,000 | 2026-07-24 |
| 1432 NE 181st St | single_family | 2 | 2 | 1,356 | $499,900 | 2026-07-24 |
| 1070 NE 158th St | single_family | 2 | 1 | 988 | $470,000 | 2026-07-20 |
| 2041 NE 182nd St | single_family | 2 | 2 | 1,034 | $510,000 | 2026-07-20 |
| 315 NE 160th Ter | single_family | 2 | 1 | 1,513 | $650,000 | 2026-07-16 |
| 271 NE 169th St | single_family | 2 | 1 | 910 | $330,000 | 2026-07-10 |
| 1960 NE 181st St | single_family | 2 | 1 | 786 | $352,500 | 2026-06-23 |
| 1554 NE 154th Ter | single_family | 2 | 1 | 812 | $329,000 | 2026-06-16 |
| 1545 NE 154th Ter | single_family | 2 | 1 | 1,040 | $13,851,000 | 2026-06-10 |
| 2148 NE 181st St | single_family | 2 | 1 | 1,400 | $590,000 | 2026-06-04 |
| 1455 NE 180th St | single_family | 2 | 1 | 880 | $450,000 | 2026-05-28 |
| 70 NE 152nd St | single_family | 2 | 1 | 1,532 | $520,000 | 2026-05-22 |
| 1664 NE 179th St | single_family | 2 | 1 | 1,254 | $430,000 | 2026-05-20 |
| 17831 NE 13th Ave | single_family | 2 | 1 | 1,454 | $475,000 | 2026-05-11 |
| 16065 NE 8th Ave | single_family | 2 | 1 | 1,554 | $360,000 | 2026-04-28 |
| 1101 NE 171st St | single_family | 2 | 2 | 1,378 | $807,500 | 2026-04-23 |
| 17002 NE 3rd Ct | single_family | 2 | 1 | 855 | $451,800 | 2026-04-22 |
| 1487 NE 179th St | single_family | 2 | 1 | 1,184 | $460,000 | 2026-04-15 |
| 15725 NE 11th Ct | single_family | 2 | 1 | 1,243 | $402,000 | 2026-04-14 |
| 16101 NE 8th Ave | single_family | 2 | 1 | 1,050 | $500,000 | 2026-04-10 |
| 15770 NE 18th Ct | single_family | 2 | 1 | 830 | $365,000 | 2026-03-23 |
| 1951 NE 178th St | single_family | 2 | 1 | 1,338 | $266,000 | 2026-03-16 |
| 1870 NE 179th St | single_family | 2 | 1 | 1,184 | $395,000 | 2026-02-10 |
| 1499 NE 174th St | single_family | 2 | 2 | 1,676 | $529,500 | 2026-01-28 |
| 1260 NE 155th St | single_family | 2 | 2 | 1,000 | $340,000 | 2026-01-16 |
| 1340 NE 159th St | single_family | 2 | 1 | 871 | $375,000 | 2026-01-16 |
| 275 NE 173rd St | single_family | 2 | 2 | 1,198 | $485,000 | 2026-01-14 |
| 1101 NE 182nd St | single_family | 2 | 1 | 1,234 | $650,000 | 2026-01-05 |
| 685 NE 180th St | single_family | 2 | 1 | 1,634 | $645,000 | 2025-12-31 |
| 28 NE 164th St | single_family | 2 | 1 | 1,360 | $530,000 | 2025-12-29 |
| 1600 NE 175th St | single_family | 2 | 1 | 842 | $558,000 | 2025-12-12 |
| 1980 NE 159th St | single_family | 2 | 1 | 805 | $490,000 | 2025-12-08 |
| 1095 NE 155th St | single_family | 2 | 1 | 1,220 | $325,000 | 2025-11-25 |
| 2039 NE 172nd St | single_family | 2 | 2 | 1,600 | $453,000 | 2025-11-25 |
| 1460 NE 173rd St | single_family | 2 | 1 | 1,184 | $425,000 | 2025-11-18 |
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 |
|---|---|---|---|---|---|---|
| 1520 NE 151st St Apt 103 | townhomes | 2 | 2 | 1,075 | $320,000 | — |
| 1560 NE 151st St Apt 102 | townhomes | 2 | 2 | 1,075 | $320,000 | — |
| 16901 NE 13th Ave Apt 303 | condos | 2 | 2 | 960 | $119,000 | — |
| 1500 NE 151st St Apt 104 | townhomes | 2 | 2 | 1,086 | $320,000 | — |
| 2040 NE 163rd St Ph 2505 | condos | 2 | 2 | 1,022 | $1,130,600 | — |
| 2040 NE 163rd St Ph 2511 | condos | 2 | 2 | — | $1,412,300 | — |
| 1355 NE 167th St Apt 115 | condos | 2 | 1 | 883 | $109,900 | — |
| 15205 NE 6th Ave Apt D111 | condos | 2 | 2 | 920 | $175,000 | — |
10-year hold projection
IRR-5.2%
Equity multiple0.13x
Total return (10yr)-$78,161
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $916,700 | $6,246 | -$50,400 | $704,280 | $212,420 |
| 2 | $944,201 | $6,562 | -$50,127 | $696,031 | $248,170 |
| 3 | $972,527 | $6,891 | -$49,843 | $687,214 | $285,313 |
| 4 | $1,001,703 | $7,233 | -$49,547 | $677,793 | $323,910 |
| 5 | $1,031,754 | $7,589 | -$49,238 | $667,724 | $364,030 |
| 6 | $1,062,707 | $7,959 | -$48,916 | $656,964 | $405,743 |
| 7 | $1,094,588 | $8,343 | -$48,580 | $645,465 | $449,123 |
| 8 | $1,127,425 | $8,743 | -$48,231 | $633,176 | $494,249 |
| 9 | $1,161,248 | $9,159 | -$47,867 | $620,044 | $541,204 |
| 10 | $1,196,086 | $9,590 | -$47,489 | $606,009 | $590,076 |
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.