11323 NE 3rd Ave
Miami Shores, FL 33161 · townhomes · For Sale · 15 days on market
Asking price$904,900
4 beds 5 baths 2,070 sqft
Suggested offer$438,447$466,453 above the est. market value of $438,447.
View on Realtor.com →Listed by Alicia Ale · Cosmopolis Real Estate, Llc
Typetownhomes
Built2026
Price / sqft$437
Est. value (own analysis)$438,447
Rent estimate (Zillow ZIP avg)$2,323/mo
HOANone
1 / 27
Show every detail
Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12073394
Coordinates—
Address11323 NE 3rd Ave
CityMiami Shores
StateFL
Zip33161
Listing ID9099295161
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33161)
Typical home value (ZHVI)$498,596
Typical rent (ZORI)$2,323/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 | $904,900 |
| Down payment (20.0%) | $180,980 |
| Loan amount | $723,920 |
| Closing costs (5.0%) | $45,245 |
| Total cash to close | $226,225 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,323$27,870 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,137$25,641 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,433$17,193 |
| Insurance (placeholder 0.8% of price) | $603$7,239 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $116$1,394 |
| Total operating expenses | $2,152$25,826 |
| 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) | $116$1,394 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 4 | 3 | 1,882 | $3,800 | 2025-11-05 | — |
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 |
|---|---|---|---|---|---|---|
| 14225 Memorial Hwy # 1F | townhomes | 2 | 2 | 1,182 | $285,000 | 2026-08-24 |
| 14220 NE 3rd Ct Unit 10A | townhomes | 3 | 2 | 1,200 | $200,000 | 2026-08-24 |
| 14333 Memorial Hwy Unit 9K | townhomes | 2 | 2 | 1,182 | $295,000 | 2026-08-12 |
| 14204 NE 3rd Ct Unit 8C | townhomes | 3 | 2 | 1,200 | $219,000 | 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 |
|---|---|---|---|---|---|---|
| 171 NE 117th St | multi_family | 4 | 4 | 1,765 | $700,000 | — |
| 10831 NE 2nd Ct | multi_family | 4 | 2 | 1,625 | $750,000 | — |
| 1216-1218 NE 112th St | multi_family | 4 | 4 | 1,810 | $975,000 | — |
| 325 NE 108th St | multi_family | 4 | 3 | 1,705 | $725,000 | — |
| 11420 NE 4th Ave | single_family | 4 | 3 | 1,803 | $975,000 | — |
| 10850 N Bayshore Dr | single_family | 4 | 6 | — | $4,800,000 | — |
| 1112 NE 111th St | multi_family | 4 | 3 | 1,756 | $815,000 | — |
| 134 NE 117th St | single_family | 4 | 3 | — | $850,000 | — |
10-year hold projection
IRR-7.1%
Equity multiple-0.19x
Total return (10yr)-$150,283
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $932,047 | -$185 | -$57,404 | $716,071 | $215,976 |
| 2 | $960,008 | -$61 | -$57,315 | $707,683 | $252,325 |
| 3 | $988,809 | $69 | -$57,220 | $698,720 | $290,089 |
| 4 | $1,018,473 | $207 | -$57,119 | $689,140 | $329,333 |
| 5 | $1,049,027 | $352 | -$57,011 | $678,903 | $370,124 |
| 6 | $1,080,498 | $505 | -$56,897 | $667,963 | $412,535 |
| 7 | $1,112,913 | $666 | -$56,775 | $656,271 | $456,642 |
| 8 | $1,146,300 | $836 | -$56,645 | $643,777 | $502,523 |
| 9 | $1,180,689 | $1,015 | -$56,508 | $630,425 | $550,265 |
| 10 | $1,216,110 | $1,203 | -$56,363 | $616,155 | $599,955 |
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.