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27 NE 60th Ter

Miami, FL 33137 · multi_family · For Sale · 4 days on market
Asking price$1,400,000
9 beds 4 baths 2,804 sqft
Suggested offer$1,057,108$342,892 above the est. market value of $1,057,108.
View on Realtor.com →
Listed by Niky Nammur · Canvas Real Estate
Typemulti_family
Built—
Price / sqft$499
Est. value (own analysis)$1,057,108
Rent estimate (building total, own analysis)$12,823/mo
HOANone
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-08-29
Removed date—
MLSMiamiMLS #A12079952
Coordinates25.83163, -80.19586
Address27 NE 60th Ter
CityMiami
StateFL
Zip33137
Listing ID6824811378
Sourcerealtor, cached 2026-09-01

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$1,400,000
Down payment (20.0%)$280,000
Loan amount$1,120,000
Closing costs (5.0%)$70,000
Total cash to close$350,000
Income
Rent (estimate)$12,823$153,880
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$153,880
Vacancy rate (assumption) assumption8.0%

$153,880 × 8.0% = $12,310

Effective gross income$11,797$141,570
Operating expenses
Property tax (real MLS tax bill, from Realtor Search)$1,215$14,575
Insurance (placeholder 0.8% of price)$933$11,200
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$641$7,694
Total operating expenses$2,789$33,469
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$141,570
Total operating expenses derived$33,469

$141,570 − $33,469 = $108,101

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$1,120,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$1,120,000 amortized at 6.7% over 30 years = $7,197/mo

CapEx reserve (5.0% of GSR)$641$7,694
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$108,101
Annual debt service derived$86,369
Annual CapEx reserve assumption$7,694
Annual PMI assumption$0

($108,101 − $86,369 − $7,694 − $0) ÷ 12 = $1,170

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$108,101
Purchase price data$1,400,000

$108,101 ÷ $1,400,000 = 7.7%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived$14,038
Total cash to close derived$350,000

$14,038 ÷ $350,000 = 4.0%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$108,101
Annual debt service derived$86,369

$108,101 ÷ $86,369 = 1.25

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$153,880
Purchase price data$1,400,000

($153,880 ÷ 12) ÷ $1,400,000 = 0.9%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,400,000
Gross scheduled rent (annual) comp$153,880

$1,400,000 ÷ $153,880 = 9.1

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$33,469
Effective gross income derived$141,570

$33,469 ÷ $141,570 = 23.6%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$33,469
Annual debt service derived$86,369
Annual PMI assumption$0
Gross scheduled rent (annual) comp$153,880

($33,469 + $86,369 + $0) ÷ $153,880 = 77.9%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

No active rental listings cached yet for this bedroom count.

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
481 NE 61st Stmulti_family——4,575$575,0002026-08-27
370 NE 55th Stmulti_family——1,784$500,0002026-08-17
401 NE 22nd Stmulti_family948,556$4,375,0002026-07-23
35 NE 53rd Stmulti_family621,978$625,0002026-06-18
661 NE 61st Stmulti_family——3,868$1,500,0002026-06-17
614 NE 27th Stmulti_family422,792$43,131,0002026-06-16
35 NE 59th St Apt 1multi_family443,704$945,0002026-05-28
45 NE 60th Stmulti_family——1,460$579,5002026-05-15
5603 NE Miami Ctmulti_family442,300$773,4002026-05-04
5641 NE Miami Ctmulti_family421,519$530,0002026-05-04
2 NE 56th Stmulti_family442,112$773,4002026-05-04
294 NE 57th Stmulti_family——1,366$539,0002026-05-04
5900 NE 4th Ctmulti_family——2,835$1,150,0002026-04-10
7 NE 50th Stmulti_family——1,300$836,2562026-03-25
135 NE 45th Stmulti_family212,779$3,000,0002026-03-03
5500 NE Miami Ctmulti_family612,982$801,0002026-02-05
700 NE 61st Stmulti_family775,497$16,500,0002025-12-29
19 NE 48th Stmulti_family422,224$1,270,0002025-12-26
119 NE 56th Stmulti_family——2,300$835,0002025-12-22
121 NE 46th Stmulti_family412,520$700,0002025-12-05
329 NE 58th Stmulti_family——1,558$429,0002025-12-01
58 NE 44th Stmulti_family523,117$2,900,0002025-11-14
161 NE 58th Stmulti_family———$245,0002025-09-25

Widened to city-wide. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.

AddressTypeBedsBathsSqftAsking priceDays on market
20200 NE 14th Avesingle_family97—$1,395,000—
1313 SW 24th Avesingle_family965,008$1,500,000—
2378 NW 60th Stmulti_family942,446$880,000—
101 NW 68th Termulti_family942,184$1,050,000—
1736 SW 9th Stmulti_family943,849$1,795,000—
19900 NE 21st Ctsingle_family910—$5,700,000—
1975 NW 24th Ctmulti_family953,163$1,400,000—
1725 S Bayshore Drsingle_family91410,864$24,500,000—

10-year hold projection

IRR14.2%
Equity multiple3.18x
Total return (10yr)$946,295
YearProperty valueNOICash flowLoan balanceEquity
1$1,442,000$108,101$14,038$1,107,857$334,143
2$1,485,260$111,511$17,256$1,094,880$390,380
3$1,529,818$115,028$20,576$1,081,011$448,807
4$1,575,712$118,655$24,000$1,066,191$509,522
5$1,622,984$122,395$27,533$1,050,352$572,632
6$1,671,673$126,251$31,177$1,033,426$638,247
7$1,721,823$130,228$34,936$1,015,338$706,486
8$1,773,478$134,329$38,814$996,007$777,471
9$1,826,682$138,558$42,814$975,349$851,333
10$1,881,483$142,918$46,941$953,273$928,210
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.