2980 SW 2nd St
Miami, FL 33135 · townhomes · For Sale · 97 days on market
Asking price$1,095,000
3 beds 4 baths 1,691 sqft
Listed by Joseph Azar · Douglas Elliman - 5555 Biscayne Blvd
Typetownhomes
Built2026
Price / sqft$648
Est. value (own analysis)$1,170,229
Rent estimate (own analysis)$3,500/mo
HOANone
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Statusfor_sale
Listed date2026-05-28
Removed date—
MLSMiamiMLS #A12026174
Coordinates25.77011, -80.24321
Address2980 SW 2nd St
CityMiami
StateFL
Zip33135
Listing ID6612439070
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33135)
Typical home value (ZHVI)$531,790
Typical rent (ZORI)$2,051/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 | $1,095,000 |
| Down payment (20.0%) | $219,000 |
| Loan amount | $876,000 |
| Closing costs (5.0%) | $54,750 |
| Total cash to close | $273,750 |
| Income | |
| Rent (comp-derived) | $3,500$42,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,220$38,640 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,734$20,805 |
| Insurance (placeholder 0.8% of price) | $730$8,760 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $175$2,100 |
| Total operating expenses | $2,639$31,665 |
| 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) | $175$2,100 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 3 | 4 | 1,691 | $5,500 | 2026-08-07 | — | |
| townhomes | 3 | 3 | — | $3,500 | 2026-07-17 | — | |
| townhomes | 3 | 3 | — | $3,500 | 2026-07-16 | — | |
| townhomes | 3 | 2 | 1,366 | $3,000 | 2026-03-14 | — |
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 |
|---|---|---|---|---|---|---|
| 2435 SW 11th St Unit 9B | townhomes | 3 | 3 | 1,576 | $555,000 | 2026-07-30 |
| 1235 SW 13th Ave Unit 1235 | townhomes | 3 | 4 | 2,247 | $1,555,000 | 2026-07-17 |
| 1247 SW 13th Ave Unit A | townhomes | 3 | 4 | 2,108 | $1,600,000 | 2025-12-26 |
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 |
|---|---|---|---|---|---|---|
| 1274 SW 5th St | single_family | 3 | 2 | 1,170 | $749,999 | — |
| 3130 SW 6th St | single_family | 3 | 3 | 2,350 | $815,000 | — |
| 2353 SW 4th St | single_family | 3 | 2 | 1,765 | $865,000 | — |
| 2260 SW 5th St | single_family | 3 | 2 | 1,328 | $640,000 | — |
| 3080 SW 5th St | single_family | 3 | 1 | 1,534 | $599,999 | — |
| 1831 SW 10th St | single_family | 3 | 2 | 1,876 | $780,000 | — |
| 3640 SW 11th St | single_family | 3 | 2 | 1,595 | $822,000 | — |
| multi_family | 3 | 7 | 1,364 | $1,340,000 | — |
10-year hold projection
IRR-5.4%
Equity multiple0.10x
Total return (10yr)-$103,854
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,127,850 | $6,975 | -$62,678 | $866,502 | $261,348 |
| 2 | $1,161,686 | $7,343 | -$62,363 | $856,352 | $305,333 |
| 3 | $1,196,536 | $7,725 | -$62,034 | $845,505 | $351,031 |
| 4 | $1,232,432 | $8,123 | -$61,691 | $833,913 | $398,519 |
| 5 | $1,269,405 | $8,537 | -$61,334 | $821,526 | $447,880 |
| 6 | $1,307,487 | $8,968 | -$60,961 | $808,287 | $499,200 |
| 7 | $1,346,712 | $9,416 | -$60,572 | $794,139 | $552,573 |
| 8 | $1,387,113 | $9,883 | -$60,167 | $779,020 | $608,093 |
| 9 | $1,428,727 | $10,367 | -$59,744 | $762,863 | $665,864 |
| 10 | $1,471,588 | $10,871 | -$59,304 | $745,596 | $725,993 |
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.