22 NE 59th St
Miami, FL 33137 · multi_family · For Sale · 801 days on market
Asking price$675,000
3 beds 2 baths 2,669 sqft
Listed by Camille Neal · Coldwell Banker Realty
Typemulti_family
Built1930
Price / sqft$253
Est. value (own analysis)$1,006,213
Rent estimate (building total, own analysis)$12,206/mo
HOANone
1 / 2
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Statusfor_sale
Listed date2024-06-23
Removed date—
MLSMiamiMLS #A11611294
Coordinates25.82934, -80.19578
Address22 NE 59th St
CityMiami
StateFL
Zip33137
Listing ID6678691618
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $675,000 |
| Down payment (20.0%) | $135,000 |
| Loan amount | $540,000 |
| Closing costs (5.0%) | $33,750 |
| Total cash to close | $168,750 |
| Income | |
| Rent (estimate) | $12,206$146,472 |
| Vacancy loss (8.0%) | |
| Effective gross income | $11,230$134,754 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,069$12,825 |
| Insurance (placeholder 0.8% of price) | $450$5,400 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $610$7,324 |
| Total operating expenses | $2,129$25,549 |
| 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) | $610$7,324 |
| 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
Widened to city-wide. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| multi_family | 3 | 2 | 1,000 | $2,900 | 2026-08-18 | — |
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 |
|---|---|---|---|---|---|---|
| 481 NE 61st St | multi_family | — | — | 4,575 | $575,000 | 2026-08-27 |
| 370 NE 55th St | multi_family | — | — | 1,784 | $500,000 | 2026-08-17 |
| 401 NE 22nd St | multi_family | 9 | 4 | 8,556 | $4,375,000 | 2026-07-23 |
| 35 NE 53rd St | multi_family | 6 | 2 | 1,978 | $625,000 | 2026-06-18 |
| 661 NE 61st St | multi_family | — | — | 3,868 | $1,500,000 | 2026-06-17 |
| 614 NE 27th St | multi_family | 4 | 2 | 2,792 | $43,131,000 | 2026-06-16 |
| 35 NE 59th St Apt 1 | multi_family | 4 | 4 | 3,704 | $945,000 | 2026-05-28 |
| 45 NE 60th St | multi_family | — | — | 1,460 | $579,500 | 2026-05-15 |
| 5603 NE Miami Ct | multi_family | 4 | 4 | 2,300 | $773,400 | 2026-05-04 |
| 5641 NE Miami Ct | multi_family | 4 | 2 | 1,519 | $530,000 | 2026-05-04 |
| 2 NE 56th St | multi_family | 4 | 4 | 2,112 | $773,400 | 2026-05-04 |
| 294 NE 57th St | multi_family | — | — | 1,366 | $539,000 | 2026-05-04 |
| 5900 NE 4th Ct | multi_family | — | — | 2,835 | $1,150,000 | 2026-04-10 |
| 7 NE 50th St | multi_family | — | — | 1,300 | $836,256 | 2026-03-25 |
| 135 NE 45th St | multi_family | 2 | 1 | 2,779 | $3,000,000 | 2026-03-03 |
| 5500 NE Miami Ct | multi_family | 6 | 1 | 2,982 | $801,000 | 2026-02-05 |
| 700 NE 61st St | multi_family | 7 | 7 | 5,497 | $16,500,000 | 2025-12-29 |
| 19 NE 48th St | multi_family | 4 | 2 | 2,224 | $1,270,000 | 2025-12-26 |
| 119 NE 56th St | multi_family | — | — | 2,300 | $835,000 | 2025-12-22 |
| 121 NE 46th St | multi_family | 4 | 1 | 2,520 | $700,000 | 2025-12-05 |
| 329 NE 58th St | multi_family | — | — | 1,558 | $429,000 | 2025-12-01 |
| 58 NE 44th St | multi_family | 5 | 2 | 3,117 | $2,900,000 | 2025-11-14 |
| 161 NE 58th St | multi_family | — | — | — | $245,000 | 2025-09-25 |
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 |
|---|---|---|---|---|---|---|
| 456 NE 29th St Unit 901 | condos | 3 | 4 | 2,304 | $2,300,000 | — |
| 2000 N Bayshore Dr Apt 702 | condos | 3 | 2 | 1,332 | $590,000 | — |
| 328 NE 57th St | single_family | 3 | 2 | 1,170 | $899,000 | — |
| 600 NE 27th St Ph 2 | condos | 3 | 5 | 2,572 | $2,550,000 | — |
| 700 NE 26th Ter Unit 2202 | condos | 3 | 4 | 2,141 | $2,740,000 | — |
| 46 NE 43rd St | single_family | 3 | 2 | 972 | $1,350,000 | — |
| 788 NE 23rd St Unit 2102 | condos | 3 | 5 | 2,743 | $2,950,000 | — |
| 601 NE 23rd St Apt 1103 | condos | 3 | 2 | 1,320 | $579,000 | — |
10-year hold projection
IRR41.7%
Equity multiple6.83x
Total return (10yr)$1,072,632
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $695,250 | $109,205 | $60,240 | $534,145 | $161,105 |
| 2 | $716,108 | $112,609 | $63,460 | $527,888 | $188,219 |
| 3 | $737,591 | $116,119 | $66,782 | $521,202 | $216,389 |
| 4 | $759,718 | $119,736 | $70,207 | $514,056 | $245,663 |
| 5 | $782,510 | $123,466 | $73,740 | $506,419 | $276,091 |
| 6 | $805,985 | $127,311 | $77,383 | $498,259 | $307,727 |
| 7 | $830,165 | $131,275 | $81,139 | $489,537 | $340,628 |
| 8 | $855,070 | $135,361 | $85,013 | $480,217 | $374,853 |
| 9 | $880,722 | $139,574 | $89,009 | $470,257 | $410,465 |
| 10 | $907,144 | $143,917 | $93,128 | $459,613 | $447,531 |
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.