23600 SW 122nd Ave
Homestead, FL 33032 · single_family · For Sale · 78 days on market
Asking price$625,000
2 beds 1 baths — sqft
Suggested offer$550,000$75,000 above the est. market value of $550,000.
View on Realtor.com →Listed by Gabriel Gonzalez · Area Co. Real Estate, LLC.
Typesingle_family
Built2026
Price / sqft—
Est. value (own analysis)$550,000
Rent estimate (own analysis)$2,200/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood7/10severe$Wildfire3/10ModerateAir2/10Minor
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Statusfor_sale
Listed date2026-06-17
Removed date—
MLSMiamiMLS #A12037223
Coordinates25.54757, -80.38893
Address23600 SW 122nd Ave
CityHomestead
StateFL
Zip33032
Listing ID6599342947
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33032)
Typical home value (ZHVI)$453,873
Typical rent (ZORI)$2,663/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 | $625,000 |
| Down payment (20.0%) | $125,000 |
| Loan amount | $500,000 |
| Closing costs (5.0%) | $31,250 |
| Total cash to close | $156,250 |
| Income | |
| Rent (comp-derived) | $2,200$26,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,024$24,288 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $990$11,875 |
| Insurance (est. scaled by flood & wind risk) | $813$9,750 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $110$1,320 |
| Total operating expenses | $1,912$22,945 |
| 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) | $110$1,320 |
| 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 | 2 | 1,632 | $2,500 | 2026-07-17 | — | |
| single_family | 2 | 1 | 2,006 | $2,200 | 2026-07-22 | — | |
| single_family | 2 | 1 | — | $2,100 | — | — |
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 |
|---|---|---|---|---|---|---|
| 26500 SW 137th Ave | single_family | 2 | 1 | 1,555 | $550,000 | 2026-07-13 |
| 15590 SW 256th St | single_family | 2 | 1 | 960 | $1,837,500 | 2026-04-27 |
| 26620 SW 136th Ave | single_family | 2 | 1 | 990 | $450,000 | 2026-03-24 |
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 |
|---|---|---|---|---|---|---|
| 14830 Naranja Lakes Blvd Unit A1N | condos | 2 | 2 | 1,075 | $154,900 | — |
| 14840 Naranja Lakes Blvd Unit C1L | condos | 2 | 2 | 1,075 | $144,900 | — |
| 14830 Naranja Lakes Blvd Unit A3A | condos | 2 | 2 | 1,075 | $164,900 | — |
| 14850 Naranja Lakes Blvd Unit B1G | condos | 2 | 2 | 1,075 | $157,000 | — |
| 14850 Naranja Lakes Blvd Unit B3A | condos | 2 | 2 | 1,075 | $145,900 | — |
| condos | 2 | 2 | 1,075 | $215,000 | — | |
| 14211 SW 272nd Ln | townhomes | 2 | 3 | 1,408 | $339,000 | — |
| 12080 SW 268th St Unit 28 | condos | 2 | 3 | 1,314 | $287,000 | — |
10-year hold projection
IRR-6.5%
Equity multiple-0.10x
Total return (10yr)-$89,612
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $643,750 | $1,343 | -$38,535 | $494,579 | $149,171 |
| 2 | $663,063 | $1,498 | -$38,413 | $488,786 | $174,277 |
| 3 | $682,954 | $1,661 | -$38,284 | $482,594 | $200,360 |
| 4 | $703,443 | $1,831 | -$38,148 | $475,978 | $227,465 |
| 5 | $724,546 | $2,009 | -$38,005 | $468,907 | $255,639 |
| 6 | $746,283 | $2,196 | -$37,855 | $461,351 | $284,931 |
| 7 | $768,671 | $2,392 | -$37,696 | $453,276 | $315,395 |
| 8 | $791,731 | $2,597 | -$37,530 | $444,647 | $347,085 |
| 9 | $815,483 | $2,811 | -$37,355 | $435,424 | $380,059 |
| 10 | $839,948 | $3,035 | -$37,171 | $425,569 | $414,379 |
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.