711 Lenox Ave
Miami Beach, FL 33139 · multi_family · For Sale · 90 days on market
Asking price$2,850,000
8 beds 8 baths 2,558 sqft
Suggested offer$1,305,833$1,544,167 above the est. market value of $1,305,833.
View on Realtor.com →Listed by David Restainer, Director · Douglas Elliman
Typemulti_family
Built1934
Price / sqft$1114
Est. value (own analysis)$1,305,833
Rent estimate (building total, own analysis)$11,946/mo
HOANone
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Statusfor_sale
Listed date2026-06-04
Removed date—
MLSMiamiMLS #A12030556
Coordinates25.77725, -80.13924
Address711 Lenox Ave
CityMiami Beach
StateFL
Zip33139
Listing ID6969593234
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $2,850,000 |
| Down payment (20.0%) | $570,000 |
| Loan amount | $2,280,000 |
| Closing costs (5.0%) | $142,500 |
| Total cash to close | $712,500 |
| Income | |
| Rent (estimate) | $11,946$143,350 |
| Vacancy loss (8.0%) | |
| Effective gross income | $10,990$131,882 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $4,513$54,150 |
| Insurance (placeholder 0.8% of price) | $1,900$22,800 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $597$7,168 |
| Total operating expenses | $7,010$84,118 |
| 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) | $597$7,168 |
| 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.
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 |
|---|---|---|---|---|---|---|
| 901 Pennsylvania Ave | multi_family | — | — | — | $3,250,000 | 2026-08-24 |
| 1580 Bay Rd | multi_family | 8 | 6 | 4,500 | $3,000,000 | 2026-08-07 |
| 335 Washington Ave | multi_family | 4 | 2 | 2,253 | $3,250,000 | 2026-08-06 |
| 745-747 Lenox Ave | multi_family | — | — | 1,760 | $2,950,000 | 2026-03-20 |
| 1534 Euclid Ave | multi_family | — | — | 3,990 | $2,000,000 | 2026-02-27 |
| 1150 8th St | multi_family | 10 | 6 | 5,426 | $2,820,000 | 2026-01-16 |
| 1124 Pennsylvania Ave | multi_family | — | — | 8,140 | $2,900,000 | 2025-10-31 |
| 660 Lenox Ave | multi_family | — | — | 4,213 | $1,975,000 | 2025-09-10 |
| 650 Lenox Ave | multi_family | — | — | 4,213 | $1,975,000 | 2025-09-10 |
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 |
|---|---|---|---|---|---|---|
| 632 15th St | multi_family | 8 | 8 | 5,939 | $2,650,000 | — |
| 49 Palm Ave | single_family | 8 | 10 | 11,307 | $35,900,000 | — |
| 33 E Dilido Dr | single_family | 8 | 8 | 10,439 | $35,000,000 | — |
10-year hold projection
IRR-2.7%
Equity multiple0.55x
Total return (10yr)$50,526
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,935,500 | $47,765 | -$135,225 | $2,255,280 | $680,220 |
| 2 | $3,023,565 | $49,618 | -$133,551 | $2,228,862 | $794,703 |
| 3 | $3,114,272 | $51,538 | -$131,815 | $2,200,630 | $913,642 |
| 4 | $3,207,700 | $53,526 | -$130,015 | $2,170,459 | $1,037,241 |
| 5 | $3,303,931 | $55,585 | -$128,150 | $2,138,217 | $1,165,714 |
| 6 | $3,403,049 | $57,716 | -$126,216 | $2,103,760 | $1,299,289 |
| 7 | $3,505,141 | $59,924 | -$124,211 | $2,066,938 | $1,438,203 |
| 8 | $3,610,295 | $62,209 | -$122,133 | $2,027,586 | $1,582,709 |
| 9 | $3,718,604 | $64,576 | -$119,980 | $1,985,532 | $1,733,071 |
| 10 | $3,830,162 | $67,025 | -$117,749 | $1,940,591 | $1,889,571 |
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.