2388 Prairie Ave
Miami Beach, FL 33140 · single_family · For Sale · 15 days on market
Asking price$3,900,000
5 beds 6 baths 3,677 sqft
Listed by Mariana Niro · Serhant
Typesingle_family
Built1956
Price / sqft$1061
Est. value (own analysis)$4,469,330
Rent estimate (own analysis)$25,000/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12070708
Coordinates25.80153, -80.13374
Address2388 Prairie Ave
CityMiami Beach
StateFL
Zip33140
Listing ID6616647492
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33140)
Typical home value (ZHVI)$684,558
Typical rent (ZORI)$3,694/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 | $3,900,000 |
| Down payment (20.0%) | $780,000 |
| Loan amount | $3,120,000 |
| Closing costs (5.0%) | $195,000 |
| Total cash to close | $975,000 |
| Income | |
| Rent (comp-derived) | $25,000$300,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $23,000$276,000 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,175$74,100 |
| Insurance (est. scaled by flood & wind risk) | $5,720$68,640 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,250$15,000 |
| Total operating expenses | $13,145$157,740 |
| 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) | $1,250$15,000 |
| 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 | 5 | 5 | 3,522 | $22,000 | 2025-11-13 | — | |
| single_family | 5 | 5 | 3,384 | $25,000 | 2026-07-18 | — | |
| single_family | 5 | 5 | 3,546 | $29,000 | 2026-05-20 | — |
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 |
|---|---|---|---|---|---|---|
| 865 W 47th St | single_family | 5 | 5 | 3,050 | $2,900,000 | 2026-08-12 |
| 6065 Pine Tree Dr | single_family | 5 | 5 | 4,697 | $13,000,000 | 2026-07-24 |
| 2355 N Meridian Ave | single_family | 5 | 5 | 5,214 | $9,200,000 | 2026-07-08 |
| 2516 Sunset Dr | single_family | 5 | 4 | 4,698 | $10,250,000 | 2026-06-29 |
| 4501 N Bay Rd | single_family | 5 | 5 | 4,401 | $4,500,000 | 2026-06-11 |
| 5181 Lagorce Dr | single_family | 5 | 6 | 4,286 | $4,300,000 | 2026-06-08 |
| 5300 N Bay Rd | single_family | 5 | 4 | 5,029 | $27,000,000 | 2026-06-02 |
| 5055 N Bay Rd | single_family | 5 | 3 | 3,980 | $4,325,000 | 2026-05-27 |
| 4740 Alton Rd | single_family | 5 | 5 | 3,005 | $3,600,000 | 2026-05-14 |
| 4520 N Meridian Ave | single_family | 5 | 5 | 4,237 | $5,150,000 | 2026-05-13 |
| 5208 Alton Rd | single_family | 5 | 4 | 4,232 | $2,400,000 | 2026-05-13 |
| 1635 W 27th St | single_family | 5 | 4 | 4,140 | $11,100,000 | 2026-04-14 |
| 2729 N Bay Rd | single_family | 5 | 5 | 3,565 | $5,200,000 | 2026-03-26 |
| 5763 N Bay Rd | single_family | 5 | 2 | 5,735 | $6,200,000 | 2026-03-12 |
| 1021 W 46th St | single_family | 5 | 6 | 3,750 | $5,550,000 | 2026-01-29 |
| 5978 Alton Rd | single_family | 5 | 5 | 3,392 | $2,823,400 | 2026-01-26 |
| 2120 Bay Ave | single_family | 5 | 5 | 5,778 | $19,600,000 | 2025-12-30 |
| 450 W 62nd St | single_family | 5 | 5 | 4,542 | $9,000,000 | 2025-12-17 |
| 5327 N Bay Rd | single_family | 5 | 5 | 4,524 | $7,450,000 | 2025-12-09 |
| 6080 Alton Rd | single_family | 5 | 3 | 2,264 | $2,900,000 | 2025-12-01 |
| 4450 N Jefferson Ave | single_family | 5 | 4 | 2,735 | $2,150,000 | 2025-11-24 |
| 1033 W 47th St | single_family | 5 | 4 | 2,977 | $2,200,000 | 2025-10-20 |
| 2012 N Bay Rd | single_family | 5 | 4 | 4,155 | $10,850,000 | 2025-10-17 |
| 4545 Nautilus Ct | single_family | 5 | 5 | 3,325 | $2,760,000 | 2025-09-30 |
| 2525 Flamingo Pl | single_family | 5 | 4 | 4,510 | $5,250,000 | 2025-09-15 |
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 |
|---|---|---|---|---|---|---|
| 5801 Collins Ave Apt 1600 | condos | 5 | 5 | 4,977 | $8,500,000 | — |
| 5170 Lagorce Dr | single_family | 5 | 5 | 4,962 | $10,360,000 | — |
| 795 Lakeview Dr | single_family | 5 | 8 | 6,162 | $10,750,000 | — |
| 4430 Alton Rd | single_family | 5 | 6 | 3,581 | $3,787,000 | — |
| 5750 Lagorce Dr | single_family | 5 | 5 | 3,400 | $5,199,000 | — |
| 5860 Pine Tree Dr | single_family | 5 | 5 | 4,636 | $4,450,000 | — |
| 5835 Lagorce Dr | single_family | 5 | 4 | 2,526 | $2,850,000 | — |
| 5630 Pine Tree Dr | single_family | 5 | 6 | 4,062 | $6,350,000 | — |
10-year hold projection
IRR0.7%
Equity multiple1.12x
Total return (10yr)$628,493
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,017,000 | $118,260 | -$137,340 | $3,086,172 | $930,828 |
| 2 | $4,137,510 | $122,597 | -$133,378 | $3,050,022 | $1,087,488 |
| 3 | $4,261,635 | $127,083 | -$129,276 | $3,011,388 | $1,250,247 |
| 4 | $4,389,484 | $131,724 | -$125,029 | $2,970,102 | $1,419,382 |
| 5 | $4,521,169 | $136,525 | -$120,632 | $2,925,981 | $1,595,188 |
| 6 | $4,656,804 | $141,491 | -$116,079 | $2,878,830 | $1,777,974 |
| 7 | $4,796,508 | $146,628 | -$111,367 | $2,828,440 | $1,968,068 |
| 8 | $4,940,403 | $151,942 | -$106,488 | $2,774,591 | $2,165,812 |
| 9 | $5,088,615 | $157,438 | -$101,438 | $2,717,044 | $2,371,572 |
| 10 | $5,241,274 | $163,122 | -$96,211 | $2,655,544 | $2,585,730 |
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.