| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $13,800,000 |
| Down payment (20.0%) | $2,760,000 |
| Loan amount | $11,040,000 |
| Closing costs (5.0%) | $690,000 |
| Total cash to close | $3,450,000 |
| Income | |
| Rent (comp-derived) | $29,000$348,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $26,680$320,160 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $21,850$262,200 |
| Insurance (est. scaled by flood & wind risk) | $20,240$242,880 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,450$17,400 |
| Total operating expenses | $43,540$522,480 |
| 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) | $1,450$17,400 |
| 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 | 4 | 3 | 2,801 | $28,000 | 2026-08-24 | — | |
| single_family | 4 | 4 | 2,517 | $15,000 | 2025-11-11 | — | |
| single_family | 4 | 4 | 3,092 | $49,500 | 2026-01-16 | — | |
| single_family | 4 | 4 | 3,338 | $40,000 | 2026-07-03 | — | |
| single_family | 4 | 4 | 2,431 | $30,000 | 2026-03-28 | — | |
| single_family | 4 | 5 | 3,725 | $25,000 | 2026-07-29 | — |
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 |
|---|---|---|---|---|---|---|
| 330 E San Marino Dr | single_family | 4 | 3 | 2,087 | $3,590,000 | 2026-08-24 |
| 508 W Dilido Dr | single_family | 4 | 4 | 5,501 | $22,750,000 | 2026-08-12 |
| 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 |
| 617 E Dilido Dr | single_family | 4 | 5 | 4,393 | $33,000,000 | 2026-07-14 |
| 1800 Jefferson Ave | single_family | 4 | 4 | 3,462 | $3,100,000 | 2026-06-10 |
| 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 |
| 850 E Dilido Dr | single_family | 4 | 3 | 2,862 | $4,850,000 | 2026-05-15 |
| 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 |
| 2145 Meridian Ave | single_family | 4 | 6 | 4,300 | $9,380,000 | 2026-05-07 |
| 254 Palm Ave | single_family | 4 | 4 | 4,218 | $7,450,000 | 2026-04-29 |
| 1244 Michigan Ave | single_family | 4 | 3 | 3,295 | $1,900,000 | 2026-04-24 |
| 114 3rd San Marino Ter | single_family | 4 | 4 | 3,019 | $5,200,000 | 2026-04-06 |
| 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 |
| 1001 N Venetian Dr | single_family | 4 | 3 | 3,256 | $10,450,000 | 2026-03-11 |
| 1722 Jefferson Ave | single_family | 4 | 4 | 2,881 | $1,560,000 | 2026-02-26 |
| 114 4th Rivo Alto Ter | single_family | 4 | 4 | 3,539 | $3,700,000 | 2026-02-20 |
| 1245 Lenox Ave | single_family | 4 | 2 | 2,356 | $1,600,000 | 2026-02-10 |
| 20 W Dilido Dr | single_family | 4 | 4 | 3,798 | $16,800,000 | 2025-12-29 |
| 107 W Rivo Alto Dr | single_family | 4 | 3 | 3,200 | $3,000,000 | 2025-11-20 |
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 |
|---|---|---|---|---|---|---|
| 1281 S Venetian Way | single_family | 4 | 4 | 2,912 | $3,975,000 | — |
| 1092 N Venetian Dr | single_family | 4 | 5 | 3,650 | $6,575,000 | — |
| 56 S Hibiscus Dr | single_family | 4 | 5 | 3,092 | $14,900,000 | — |
| 300 S Pointe Dr Ph 5 | condos | 4 | 7 | 5,680 | $24,999,000 | — |
| 1405 Lenox Ave | single_family | 4 | 2 | 2,112 | $2,200,000 | — |
| 1508 Meridian Ave | multi_family | 4 | 4 | 1,776 | $1,200,000 | — |
| 125 Ocean Dr Unit U0303 | condos | 4 | 5 | 4,365 | $19,642,000 | — |
| 215 Palm Ave | single_family | 4 | 6 | 5,241 | $6,500,000 | — |
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $14,214,000 | -$202,320 | -$1,071,072 | $10,920,302 | $3,293,698 |
| 2 | $14,640,420 | -$205,777 | -$1,074,964 | $10,792,384 | $3,848,036 |
| 3 | $15,079,633 | -$209,273 | -$1,078,906 | $10,655,682 | $4,423,951 |
| 4 | $15,532,022 | -$212,806 | -$1,082,896 | $10,509,592 | $5,022,429 |
| 5 | $15,997,982 | -$216,377 | -$1,086,936 | $10,353,471 | $5,644,512 |
| 6 | $16,477,922 | -$219,985 | -$1,091,024 | $10,186,628 | $6,291,294 |
| 7 | $16,972,259 | -$223,629 | -$1,095,160 | $10,008,328 | $6,963,932 |
| 8 | $17,481,427 | -$227,308 | -$1,099,343 | $9,817,784 | $7,663,644 |
| 9 | $18,005,870 | -$231,022 | -$1,103,574 | $9,614,155 | $8,391,715 |
| 10 | $18,546,046 | -$234,770 | -$1,107,852 | $9,396,542 | $9,149,504 |