1228 Alhambra Cir
Coral Gables, FL 33134 · single_family · Pending — under contract · 113 days on market
Asking price$5,699,000
6 beds 5 baths 4,319 sqft
Suggested offer$4,057,053$1,641,947 above the est. market value of $4,057,053.
View on Realtor.com →Listed by Laura Mullaney · Coldwell Banker Realty
Typesingle_family
Built1927
Price / sqft$1320
Est. value (own analysis)$4,057,053
Rent estimate (own analysis)$30,000/mo
HOANone
1 / 57
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Statusfor_sale
Listed date2026-05-12
Removed date—
MLSMiamiMLS #A12008977
Coordinates25.75364, -80.28041
Address1228 Alhambra Cir
CityCoral Gables
StateFL
Zip33134
Listing ID6968686990
Sourceus-real-estate-listings, cached 2026-08-27
ZIP market snapshot (33134)
Typical home value (ZHVI)$887,965
Typical rent (ZORI)$3,095/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 | $5,699,000 |
| Down payment (20.0%) | $1,139,800 |
| Loan amount | $4,559,200 |
| Closing costs (5.0%) | $284,950 |
| Total cash to close | $1,424,750 |
| Income | |
| Rent (comp-derived) | $30,000$360,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,600$331,200 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $9,023$108,281 |
| Insurance (placeholder 0.8% of price) | $3,799$45,592 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,500$18,000 |
| Total operating expenses | $14,323$171,873 |
| 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) | $1,500$18,000 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 6 | 8 | 9,099 | $85,000 | 2026-05-04 | — | |
| single_family | 6 | 5 | 5,396 | $30,000 | 2026-02-13 | — | |
| single_family | 6 | 7 | 5,922 | $27,000 | 2026-08-10 | — |
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 |
|---|---|---|---|---|---|---|
| 1228 Alhambra Cir | single_family | 6 | 5 | 4,319 | $5,625,000 | 2026-08-27 |
| 2111 Alhambra Cir | single_family | 6 | 5 | 3,202 | $2,900,000 | 2026-06-05 |
| 3916 Granada Blvd | single_family | 6 | 8 | 7,451 | $7,250,000 | 2026-04-14 |
| 240 SW 55th Ave | single_family | 6 | 4 | 2,901 | $975,000 | 2026-02-25 |
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 |
|---|---|---|---|---|---|---|
| 2862 SW 38th Ct | multi_family | 6 | 5 | 3,212 | $1,195,000 | — |
| 3711 SW 27th Ter | multi_family | 6 | 4 | 2,428 | $1,825,000 | — |
| 1107 Alhambra Cir | single_family | 6 | 3 | 2,965 | $1,600,000 | — |
| 1021 N Greenway Dr | single_family | 6 | 6 | 5,561 | $4,975,000 | — |
| 36 Phoenetia Ave | multi_family | 6 | 6 | 3,128 | $2,500,000 | — |
| 1253 Sorolla Ave | single_family | 6 | 7 | 6,492 | $5,992,000 | — |
| 1241 Mariola Ct | single_family | 6 | 7 | 6,412 | $11,995,000 | — |
| 3300 Segovia St | multi_family | 6 | 4 | 3,129 | $3,000,000 | — |
10-year hold projection
IRR0.2%
Equity multiple1.03x
Total return (10yr)$792,460
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $5,869,970 | $159,327 | -$210,257 | $4,509,768 | $1,360,202 |
| 2 | $6,046,069 | $164,966 | -$205,068 | $4,456,942 | $1,589,127 |
| 3 | $6,227,451 | $170,796 | -$199,699 | $4,400,488 | $1,826,964 |
| 4 | $6,414,275 | $176,823 | -$194,145 | $4,340,157 | $2,074,118 |
| 5 | $6,606,703 | $183,053 | -$188,400 | $4,275,683 | $2,331,020 |
| 6 | $6,804,904 | $189,493 | -$182,456 | $4,206,782 | $2,598,122 |
| 7 | $7,009,051 | $196,150 | -$176,308 | $4,133,149 | $2,875,902 |
| 8 | $7,219,323 | $203,031 | -$169,949 | $4,054,460 | $3,164,863 |
| 9 | $7,435,902 | $210,144 | -$163,371 | $3,970,367 | $3,465,536 |
| 10 | $7,658,979 | $217,495 | -$156,568 | $3,880,499 | $3,778,481 |
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.