229-230 NW 48th Ct
Miami, FL 33126 · multi_family · For Sale · 14 days on market
Asking price$699,000
3 beds 3 baths 1,265 sqft
Suggested offer$403,295$295,705 above the est. market value of $403,295.
View on Realtor.com →Listed by Roger Schaeffler · Florida Realty Of Miami Corp
Typemulti_family
Built1959
Price / sqft$553
Est. value (own analysis)$403,295
Rent estimate (building total, own analysis)$3,441/mo
HOANone
Wind10/10Extreme$Flood3/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-19
Removed date—
MLSMiamiMLS #A12074053
Coordinates25.77411, -80.27410
Address229-230 NW 48th Ct
CityMiami
StateFL
Zip33126
Listing ID6726417948
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33126)
Typical home value (ZHVI)$303,717
Typical rent (ZORI)$2,370/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 | $699,000 |
| Down payment (20.0%) | $139,800 |
| Loan amount | $559,200 |
| Closing costs (5.0%) | $34,950 |
| Total cash to close | $174,750 |
| Income | |
| Rent (estimate) | $3,441$41,290 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,166$37,986 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,107$13,281 |
| Insurance (est. scaled by flood & wind risk) | $746$8,947 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $172$2,064 |
| Total operating expenses | $2,024$24,293 |
| 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) | $172$2,064 |
| 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 |
|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|
| 4736 NW Flagler Ter | multi_family | 5 | 3 | 1,920 | $575,000 | 2026-08-11 |
| 400 NW 44th Ave | multi_family | — | — | 2,294 | $799,000 | 2026-08-10 |
| 280 NW 41st Ave | multi_family | 4 | 2 | 1,680 | $650,000 | 2026-06-29 |
| 256 NW 50th Ave | multi_family | 6 | 4 | 2,900 | $774,000 | 2026-06-15 |
| 4335 NW 3rd St | multi_family | 5 | 2 | 2,509 | $285,000 | 2026-05-29 |
| 115 NW 56th Ave | multi_family | — | — | 1,629 | $510,000 | 2026-05-27 |
| 4518 NW 4th St | multi_family | 8 | 6 | 3,180 | $760,000 | 2026-05-14 |
| 214 NW 55th Ct | multi_family | 5 | 3 | 2,352 | $640,000 | 2026-05-12 |
| 5147 NW 1st St | multi_family | — | — | 2,346 | $750,000 | 2026-03-06 |
| 445 NW 45th Ave | multi_family | 4 | 2 | 3,635 | $900,000 | 2026-03-02 |
| 277 NW 47th Ct | multi_family | — | — | 1,038 | $330,000 | 2026-02-12 |
| 270 NW 40th Ct | multi_family | — | — | 2,833 | $1,000,000 | 2026-02-10 |
| 93 NW 75th Ave | multi_family | 4 | 2 | 2,398 | $781,000 | 2026-01-20 |
| 7633 NW 2nd Ter | multi_family | 6 | 4 | 2,329 | $781,000 | 2026-01-20 |
| 97 NW 47th Ct | multi_family | — | — | 2,172 | $850,000 | 2026-01-12 |
| 100 NW 43rd Pl | multi_family | 4 | 2 | 1,820 | $700,000 | 2025-12-26 |
| 1050 NW 43rd Ave | multi_family | 4 | 2 | 1,325 | $610,000 | 2025-09-25 |
| 435 NW 44th Ave | multi_family | — | — | 3,082 | $865,000 | 2025-09-18 |
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 |
|---|---|---|---|---|---|---|
| 380 NW 85th Pl Unit 1406 | condos | 3 | 3 | 1,560 | $478,000 | — |
| 10 NW 60th Ct | single_family | 3 | 2 | 1,563 | $669,900 | — |
| 8356 NW 10th St Unit 6D | townhomes | 3 | 3 | 1,600 | $480,000 | — |
| 350 NW 58th Ave | single_family | 3 | 2 | 1,205 | $697,000 | — |
| 5170 NW 2nd St | single_family | 3 | 2 | 1,734 | $595,000 | — |
| 320 NW 61st Ave | single_family | 3 | 2 | 2,005 | $550,000 | — |
| 333 NW 60th Ave | single_family | 3 | 2 | 1,167 | $483,000 | — |
| 390 NW 86th Ct Unit 803 | townhomes | 3 | 3 | 1,560 | $464,900 | — |
10-year hold projection
IRR-2.0%
Equity multiple0.66x
Total return (10yr)$32,597
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $719,970 | $13,694 | -$31,494 | $553,137 | $166,833 |
| 2 | $741,569 | $14,226 | -$31,013 | $546,658 | $194,911 |
| 3 | $763,816 | $14,777 | -$30,515 | $539,733 | $224,083 |
| 4 | $786,731 | $15,348 | -$29,998 | $532,334 | $254,397 |
| 5 | $810,333 | $15,939 | -$29,462 | $524,426 | $285,907 |
| 6 | $834,643 | $16,552 | -$28,907 | $515,975 | $318,668 |
| 7 | $859,682 | $17,186 | -$28,331 | $506,943 | $352,738 |
| 8 | $885,472 | $17,842 | -$27,735 | $497,292 | $388,180 |
| 9 | $912,036 | $18,522 | -$27,116 | $486,978 | $425,059 |
| 10 | $939,398 | $19,225 | -$26,476 | $475,955 | $463,442 |
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.