275 189th Ter
Sunny Isles Beach, FL 33160 · single_family · For Sale · 7 days on market
Asking price$4,500,000
6 beds 7 baths 4,167 sqft
Listed by Ozzie VEGA · Optimar International Realty
Typesingle_family
Built2006
Price / sqft$1080
Est. value (own analysis)$8,084,772
Rent estimate (own analysis)$30,000/mo
HOANone
1 / 37
Show every detail
Statusfor_sale
Listed date2026-08-26
Removed date—
MLSMiamiMLS #A12078057
Coordinates25.95134, -80.12370
Address275 189th Ter
CitySunny Isles Beach
StateFL
Zip33160
Listing ID6603984467
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33160)
Typical home value (ZHVI)$518,452
Typical rent (ZORI)$3,079/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 | $4,500,000 |
| Down payment (20.0%) | $900,000 |
| Loan amount | $3,600,000 |
| Closing costs (5.0%) | $225,000 |
| Total cash to close | $1,125,000 |
| Income | |
| Rent (comp-derived) | $30,000$360,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,600$331,200 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $7,125$85,500 |
| Insurance (placeholder 0.8% of price) | $3,000$36,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,500$18,000 |
| Total operating expenses | $11,625$139,500 |
| 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) | $1,500$18,000 |
| 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 | 6 | 5 | 4,711 | $15,000 | 2026-01-27 | — | |
| single_family | 6 | 7 | 5,036 | $37,000 | 2026-08-26 | — | |
| single_family | 6 | 7 | 4,153 | $25,000 | 2026-07-08 | — | |
| single_family | 6 | 7 | 4,167 | $19,000 | 2026-07-20 | — | |
| single_family | 6 | 8 | 5,293 | $35,000 | 2025-11-21 | — | |
| single_family | 6 | 7 | 5,036 | $37,000 | 2026-08-07 | — |
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 |
|---|---|---|---|---|---|---|
| 354 Golden Beach Dr | single_family | 6 | 7 | 4,154 | $8,020,000 | 2026-07-28 |
| 364 Golden Beach Dr | single_family | 6 | 7 | 5,363 | $9,940,000 | 2026-07-09 |
| 306 Atlantic Ave | single_family | 6 | 5 | 4,799 | $5,000,000 | 2026-06-29 |
| 3965 194th Ln | single_family | 6 | 6 | 3,994 | $2,900,000 | 2026-04-30 |
| 620 Ocean Blvd | single_family | 6 | 9 | 5,457 | $8,000,000 | 2026-03-31 |
| 387 Ocean Blvd | single_family | 6 | 10 | 11,599 | $32,500,000 | 2026-03-25 |
| 455 Centre Is | single_family | 6 | 5 | 4,413 | $8,800,000 | 2026-03-24 |
| 3209 NE 169th St | single_family | 6 | 8 | 6,364 | $12,550,000 | 2026-03-16 |
| 194 S Island Dr | single_family | 6 | 8 | 7,635 | $27,100,000 | 2026-01-06 |
| 220 S Island | single_family | 6 | 5 | 6,642 | $12,950,000 | 2025-12-01 |
| 3301 NE 170th St | single_family | 6 | 7 | 5,446 | $4,000,000 | 2025-10-14 |
| 100 Golden Beach Dr | single_family | 6 | 7 | 7,755 | $16,558,000 | 2025-10-01 |
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 |
|---|---|---|---|---|---|---|
| 3916 Island Estates Dr | single_family | 6 | 7 | 6,932 | $19,990,000 | — |
| 1522 Island Blvd | single_family | 6 | 8 | 6,430 | $13,750,000 | — |
| 17121 Collins Ave Apt 4806 | condos | 6 | 8 | 8,332 | $8,332,000 | — |
| 128 Ocean Blvd | single_family | 6 | 9 | 7,657 | $12,950,000 | — |
| 142 S Island Dr | single_family | 6 | 9 | 8,783 | $16,999,000 | — |
| single_family | 6 | 8 | 7,500 | $8,900,000 | — | |
| 19575 Collins Ave Unit 3 | condos | 6 | 9 | 10,515 | $19,995,000 | — |
| 342 S Parkway | single_family | 6 | 7 | 5,660 | $16,900,000 | — |
10-year hold projection
IRR4.2%
Equity multiple1.67x
Total return (10yr)$1,339,690
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,635,000 | $191,700 | -$103,915 | $3,560,968 | $1,074,032 |
| 2 | $4,774,050 | $198,149 | -$97,916 | $3,519,256 | $1,254,794 |
| 3 | $4,917,272 | $204,808 | -$91,718 | $3,474,679 | $1,442,593 |
| 4 | $5,064,790 | $211,685 | -$85,314 | $3,427,041 | $1,637,749 |
| 5 | $5,216,733 | $218,787 | -$78,697 | $3,376,132 | $1,840,602 |
| 6 | $5,373,235 | $226,120 | -$71,860 | $3,321,726 | $2,051,509 |
| 7 | $5,534,432 | $233,693 | -$64,796 | $3,263,585 | $2,270,847 |
| 8 | $5,700,465 | $241,513 | -$57,499 | $3,201,451 | $2,499,014 |
| 9 | $5,871,479 | $249,587 | -$49,959 | $3,135,050 | $2,736,429 |
| 10 | $6,047,624 | $257,925 | -$42,170 | $3,064,090 | $2,983,534 |
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.