| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $35,000,000 |
| Down payment (20.0%) | $7,000,000 |
| Loan amount | $28,000,000 |
| Closing costs (5.0%) | $1,750,000 |
| Total cash to close | $8,750,000 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,928$35,142 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,694$32,330 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $55,417$665,000 |
| Insurance (est. scaled by flood & wind risk) | $40,833$490,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $146$1,757 |
| Total operating expenses | $96,396$1,156,757 |
| 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) | $146$1,757 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
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 | 8 | 10 | 7,210 | $100,000 | 2025-10-23 | — | |
| single_family | 8 | 7 | 7,210 | $100,000 | — | — |
Widened to any bedroom count in ZIP. 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 |
|---|---|---|---|---|---|---|
| 270 S Hibiscus Dr | single_family | 7 | 8 | 10,500 | $51,500,000 | 2026-08-24 |
| 330 E San Marino Dr | single_family | 4 | 3 | 2,087 | $3,590,000 | 2026-08-24 |
| 830 E Dilido Dr | single_family | 3 | 2 | 2,005 | $2,286,415 | 2026-08-21 |
| 1729 Lenox Ave | single_family | 3 | 2 | 2,170 | $2,650,000 | 2026-08-19 |
| 508 W Dilido Dr | single_family | 4 | 4 | 5,501 | $22,750,000 | 2026-08-12 |
| 93 Palm Ave | single_family | 0 | — | — | $21,000,000 | 2026-08-12 |
| 1511 NE 13th Pl | single_family | 2 | 2 | 1,835 | $6,500,000 | 2026-08-06 |
| 1505 1511 Ne 13th Pl | single_family | 6 | 4 | — | $6,500,000 | 2026-07-28 |
| 1338 N Venetian Way | single_family | 4 | 4 | 2,456 | $3,180,000 | 2026-07-24 |
| 1776 Michigan Ave | single_family | 4 | 5 | 2,830 | $2,660,000 | 2026-07-20 |
| 288 S Coconut Ln | single_family | 9 | 8 | 9,094 | $18,518,000 | 2026-07-20 |
| 625 E Dilido Dr | single_family | 6 | 6 | 4,967 | $33,000,000 | 2026-07-14 |
| 617 E Dilido Dr | single_family | 4 | 5 | 4,393 | $33,000,000 | 2026-07-14 |
| 1 Star Island Dr | single_family | 7 | 5 | 6,684 | $55,000,000 | 2026-07-13 |
| 149 Palm Ave | single_family | — | 0 | 216 | $15,000,000 | 2026-07-08 |
| 145 Palm Ave | single_family | 5 | 6 | 11,639 | $40,000,000 | 2026-07-01 |
| 1045 N Venetian Dr | single_family | 6 | 8 | 6,347 | $18,200,000 | 2026-06-26 |
| 1335 Lenox Ave | single_family | 5 | 3 | 2,363 | $2,375,000 | 2026-06-22 |
| 244 W San Marino Dr | single_family | 3 | 3 | 2,732 | $11,926,300 | 2026-06-16 |
| 1443 Lenox Ave | single_family | 3 | 2 | 1,592 | $2,385,000 | 2026-06-12 |
| 1800 Jefferson Ave | single_family | 4 | 4 | 3,462 | $3,100,000 | 2026-06-10 |
| 16 Palm Ave | single_family | 6 | 7 | 9,209 | $25,000,000 | 2026-06-05 |
| 444 W Rivo Alto Dr | single_family | 5 | 5 | 4,837 | $16,500,000 | 2026-06-03 |
| 94 S Hibiscus Dr | single_family | 4 | 6 | 4,866 | $18,500,000 | 2026-05-29 |
| 821 E Dilido Dr | single_family | 4 | 4 | 4,420 | $15,500,000 | 2026-05-26 |
| 302 W San Marino Dr | single_family | 3 | 3 | 3,178 | $11,300,000 | 2026-05-26 |
| 850 E Dilido Dr | single_family | 4 | 3 | 2,862 | $4,850,000 | 2026-05-15 |
| 330 W Rivo Alto Dr | single_family | 2 | 3 | 2,005 | $9,071,000 | 2026-05-15 |
| 600 W Dilido Dr | single_family | 5 | 5 | 2,669 | $11,000,000 | 2026-05-14 |
| 100 E Dilido Dr | single_family | 4 | 5 | 3,886 | $4,750,000 | 2026-05-14 |
| 291 Palm Ave | single_family | 4 | 5 | 3,077 | $5,450,000 | 2026-05-13 |
| 431 W Rivo Alto Dr | single_family | 5 | 5 | 4,352 | $5,600,000 | 2026-05-11 |
| 2145 Meridian Ave | single_family | 4 | 6 | 4,300 | $9,380,000 | 2026-05-07 |
| 845 E Dilido Dr | single_family | 5 | 8 | 5,046 | $35,000,000 | 2026-05-07 |
| 1030 N Venetian Dr | single_family | 3 | 5 | 2,807 | $3,100,000 | 2026-05-05 |
| 1438 Jefferson Ave | single_family | 2 | 2 | 1,276 | $1,675,000 | 2026-04-30 |
| 254 Palm Ave | single_family | 4 | 4 | 4,218 | $7,450,000 | 2026-04-29 |
| 1315 Lenox Ave | single_family | 3 | 2 | 2,378 | $3,550,000 | 2026-04-29 |
| 310 W Dilido Dr | single_family | 6 | 6 | 5,506 | $21,750,000 | 2026-04-27 |
| 440 E Rivo Alto Dr | single_family | 3 | 2 | 3,522 | $6,500,000 | 2026-04-27 |
| 1244 Michigan Ave | single_family | 4 | 3 | 3,295 | $1,900,000 | 2026-04-24 |
| 1277 N Venetian Way | single_family | 5 | 7 | 5,659 | $14,000,000 | 2026-04-21 |
| 375 S Hibiscus Dr | single_family | 6 | 7 | 4,286 | $9,500,000 | 2026-04-16 |
| 1011 N Venetian Dr | single_family | 3 | 3 | 3,671 | $10,800,000 | 2026-04-14 |
| 114 3rd San Marino Ter | single_family | 4 | 4 | 3,019 | $5,200,000 | 2026-04-06 |
| 1417 N Venetian Way | single_family | 5 | 7 | 7,557 | $27,500,000 | 2026-04-03 |
| 66 S Hibiscus Dr | single_family | 6 | 5 | 5,645 | $12,250,000 | 2026-04-02 |
| 29 E San Marino Dr | single_family | 2 | 3 | 2,922 | $28,500,000 | 2026-03-24 |
| 1417 Lenox Ave | single_family | 4 | 3 | 2,899 | $2,100,000 | 2026-03-23 |
| 1096 N Venetian Dr | single_family | 4 | 5 | — | $5,620,000 | 2026-03-20 |
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 |
|---|---|---|---|---|---|---|
| 632 15th St | multi_family | 8 | 8 | 5,939 | $2,650,000 | — |
| 49 Palm Ave | single_family | 8 | 10 | 11,307 | $35,900,000 | — |
| 711 Lenox Ave | multi_family | 8 | 8 | 2,558 | $2,850,000 | — |
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $36,050,000 | -$1,124,427 | -$3,285,410 | $27,696,418 | $8,353,582 |
| 2 | $37,131,500 | -$1,152,376 | -$3,313,403 | $27,371,988 | $9,759,512 |
| 3 | $38,245,445 | -$1,181,019 | -$3,342,091 | $27,025,280 | $11,220,165 |
| 4 | $39,392,808 | -$1,210,373 | -$3,371,491 | $26,654,763 | $12,738,046 |
| 5 | $40,574,593 | -$1,240,455 | -$3,401,621 | $26,258,801 | $14,315,791 |
| 6 | $41,791,830 | -$1,271,285 | -$3,432,499 | $25,835,649 | $15,956,181 |
| 7 | $43,045,585 | -$1,302,879 | -$3,464,144 | $25,383,439 | $17,662,146 |
| 8 | $44,336,953 | -$1,335,258 | -$3,496,574 | $24,900,175 | $19,436,778 |
| 9 | $45,667,061 | -$1,368,441 | -$3,529,808 | $24,383,724 | $21,283,337 |
| 10 | $47,037,073 | -$1,402,447 | -$3,563,868 | $23,831,809 | $23,205,265 |