9950 E Bay Harbor Dr
Bay Harbor Islands, FL 33154 · multi_family · For Sale · 563 days on market
Asking price$4,200,000
— beds — baths — sqft
Listed by Alan Eskenazi Bone · Miles Goldstein Real Estate
Typemulti_family
Built1952
Price / sqft—
Est. value (own analysis)$8,500,000
Rent estimate (Zillow ZIP avg)$4,738/mo
HOANone
1 / 35
Show every detail
Statusfor_sale
Listed date2025-02-16
Removed date—
MLSMiamiMLS #A11745188
Coordinates25.89001, -80.13107
Address9950 E Bay Harbor Dr
CityBay Harbor Islands
StateFL
Zip33154
Listing ID6860354802
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33154)
Typical home value (ZHVI)$1,230,561
Typical rent (ZORI)$4,738/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 | $4,200,000 |
| Down payment (20.0%) | $840,000 |
| Loan amount | $3,360,000 |
| Closing costs (5.0%) | $210,000 |
| Total cash to close | $1,050,000 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $4,738$56,861 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,359$52,312 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,650$79,800 |
| Insurance (placeholder 0.8% of price) | $2,800$33,600 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $237$2,843 |
| Total operating expenses | $9,687$116,243 |
| 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) | $237$2,843 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 9465 Abbott Ave Apt 2 | multi_family | 8 | 8 | 4,150 | $8,500,000 | 2026-01-05 |
| 9457 Abbott Ave | multi_family | 6 | 6 | 6,586 | $8,500,000 | 2026-01-05 |
| 9481 Abbott Ave | multi_family | 8 | 8 | 6,356 | $8,500,000 | 2026-01-05 |
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.
No other cached listings nearby for this bedroom count yet.
10-year hold projection
IRR-10.8%
Equity multiple-0.84x
Total return (10yr)-$1,380,912
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,326,000 | -$63,931 | -$325,881 | $3,323,570 | $1,002,430 |
| 2 | $4,455,780 | -$65,268 | -$327,289 | $3,284,639 | $1,171,141 |
| 3 | $4,589,453 | -$66,630 | -$328,724 | $3,243,034 | $1,346,420 |
| 4 | $4,727,137 | -$68,019 | -$330,187 | $3,198,572 | $1,528,565 |
| 5 | $4,868,951 | -$69,433 | -$331,679 | $3,151,057 | $1,717,895 |
| 6 | $5,015,020 | -$70,875 | -$333,198 | $3,100,278 | $1,914,741 |
| 7 | $5,165,470 | -$72,343 | -$334,748 | $3,046,013 | $2,119,457 |
| 8 | $5,320,434 | -$73,840 | -$336,326 | $2,988,022 | $2,332,413 |
| 9 | $5,480,047 | -$75,364 | -$337,935 | $2,926,048 | $2,554,000 |
| 10 | $5,644,449 | -$76,917 | -$339,574 | $2,859,818 | $2,784,631 |
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.