1490/1492 NW 38th St
Miami, FL 33142 · multi_family · Pending — under contract · 189 days on market
Asking price$585,000
5 beds 3 baths 1,840 sqft
Listed by Bruno Jr Phanord · Keller Williams Elite Properties
Typemulti_family
Built1946
Price / sqft$318
Est. value (own analysis)$593,179
Rent estimate (building total, own analysis)$4,618/mo
HOANone
Wind10/10Extreme$Heat10/10ExtremeFlood3/10moderate$Air2/10MinorWildfire1/10Minimal
1 / 61
Show every detail
Statusfor_sale
Listed date2026-02-25
Removed date—
MLSMiamiMLS #A11972427
Coordinates25.81100, -80.22158
Address1490/1492 NW 38th St
CityMiami
StateFL
Zip33142
Listing ID9011373182
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33142)
Typical home value (ZHVI)$430,103
Typical rent (ZORI)$2,350/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 | $585,000 |
| Down payment (20.0%) | $117,000 |
| Loan amount | $468,000 |
| Closing costs (5.0%) | $29,250 |
| Total cash to close | $146,250 |
| Income | |
| Rent (estimate) | $4,618$55,421 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,249$50,987 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $926$11,115 |
| Insurance (est. scaled by flood & wind risk) | $624$7,488 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $231$2,771 |
| Total operating expenses | $1,781$21,374 |
| 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) | $231$2,771 |
| 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 |
|---|---|---|---|---|---|---|
| 3001 NW 22nd Ct | multi_family | 5 | 3 | 1,855 | $630,000 | 2026-04-10 |
| 2967 NW 30th St | multi_family | 5 | 3 | 2,916 | $520,000 | 2026-04-07 |
| 9596861224 | multi_family | 5 | 3 | 1,855 | $630,000 | 2026-03-27 |
| 3011 NW 14th Ave | multi_family | 5 | 3 | 1,866 | $620,000 | 2026-03-12 |
| 2121 NW 27th St | multi_family | 5 | 3 | 2,248 | $350,000 | 2025-12-16 |
| 2501 NW 24th Ct | multi_family | 5 | 1 | 2,000 | $625,000 | 2025-12-01 |
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 |
|---|---|---|---|---|---|---|
| 4245 NW 24th Ave | multi_family | 5 | 2 | 1,701 | $609,000 | — |
| 1345 NW 25th St | multi_family | 5 | 3 | 2,505 | $565,000 | — |
| 4769 NW 17th Ave | multi_family | 5 | 4 | 2,242 | $625,000 | — |
| 3389 NW 14th Ave | multi_family | 5 | 3 | 2,241 | $995,000 | — |
| 1274 NW 55th Ter | single_family | 5 | 4 | 2,292 | $760,000 | — |
| 2428 NW 28th St | multi_family | 5 | 3 | 1,662 | $649,000 | — |
| 1436 NW 51st Ter | multi_family | 5 | 2 | 1,548 | $598,900 | — |
| 1523 NW 38th St | single_family | 5 | 2 | 1,472 | $615,000 | — |
10-year hold projection
IRR6.4%
Equity multiple2.01x
Total return (10yr)$223,964
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $602,550 | $29,613 | -$9,248 | $462,926 | $139,624 |
| 2 | $620,627 | $30,608 | -$8,322 | $457,503 | $163,123 |
| 3 | $639,245 | $31,636 | -$7,365 | $451,708 | $187,537 |
| 4 | $658,423 | $32,698 | -$6,376 | $445,516 | $212,907 |
| 5 | $678,175 | $33,794 | -$5,355 | $438,897 | $239,278 |
| 6 | $698,521 | $34,925 | -$4,300 | $431,825 | $266,696 |
| 7 | $719,476 | $36,094 | -$3,209 | $424,266 | $295,210 |
| 8 | $741,061 | $37,301 | -$2,083 | $416,189 | $324,871 |
| 9 | $763,292 | $38,547 | -$919 | $407,557 | $355,735 |
| 10 | $786,191 | $39,833 | $283 | $398,332 | $387,859 |
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.