3223 NW 5th Ave Unit W511
Miami, FL 33127 · condos · For Sale · 1 days on market
Asking price$416,200
0 beds 1 baths 295 sqft
Suggested offer$153,070$263,130 above the est. market value of $153,070.
View on Realtor.com →Rental restricted
The listing says this cannot be rented out as modelled — treat the rent estimate and cash flow below as not applicable.
Listed by Giovanna M. Fernandez · BHHS EWM Realty
Typecondos
Built2029
Price / sqft$1411
Est. value (own analysis)$153,070
Rent estimate (own analysis)$1,195/mo
HOA$644/mo
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Statusfor_sale
Listed date2026-09-01
Removed date—
MLSMiamiMLS #A12080981
Coordinates25.80697, -80.20310
Address3223 NW 5th Ave Unit W511
CityMiami
StateFL
Zip33127
Listing ID9113772125
Sourceus-real-estate-listings, cached 2026-09-02
ZIP market snapshot (33127)
Typical home value (ZHVI)$528,160
Typical rent (ZORI)$2,975/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 | $416,200 |
| Down payment (20.0%) | $83,240 |
| Loan amount | $332,960 |
| Closing costs (5.0%) | $20,810 |
| Total cash to close | $104,050 |
| Income | |
| Rent (comp-derived) | $1,195$14,340 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,099$13,193 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $659$7,908 |
| Insurance (placeholder 0.8% of price) | $277$3,330 |
| HOA dues | $644$7,728 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $60$717 |
| Total operating expenses | $1,640$19,682 |
| 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) | $60$717 |
| 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.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 0 | 1 | 348 | $2,275 | 2026-05-19 | — | |
| apartment | 0 | 1 | 220 | $960 | 2026-08-02 | — | |
| apartment | 0 | 1 | 225 | $1,122 | 2026-08-23 | — | |
| condos | 0 | 1 | 264 | $1,500 | 2026-08-26 | — | |
| apartment | 0 | 1 | 320 | $1,195 | — | — |
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 |
|---|---|---|---|---|---|---|
| 2700 NW 2nd Ave Unit 502 | condos | 1 | 1 | 638 | $705,000 | 2026-08-27 |
| 450 NW 20th St Unit 1 | condo_townhome_rowhome_coop | 4 | 2 | 1,347 | $250,000 | 2026-02-26 |
| 410 NW 20th St Unit 5 | condos | 3 | 3 | 1,190 | $383,000 | 2026-01-16 |
| 136 NW 26th St Unit 503 | condos | 1 | 1 | 440 | $315,000 | 2025-09-16 |
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 |
|---|---|---|---|---|---|---|
| 90 NE 32nd St Unit 920 | condos | 0 | 1 | — | $665,000 | — |
| 2700 NW 2nd Ave Unit 533 | condos | 0 | 1 | — | $650,000 | — |
| 2700 NW 2nd Ave Unit 244 | condos | 0 | 1 | 479 | $629,900 | — |
| 2700 NW 2nd Ave Unit 240 | condos | 0 | 1 | 479 | $575,000 | — |
| 335 NW 28th St Unit 503 | condos | 0 | 1 | 597 | $689,000 | — |
| 335 NW 28th St Unit 604 | condos | 0 | 1 | 400 | $540,000 | — |
| 335 NW 28th St Unit 305 | condos | 0 | 1 | 400 | $495,000 | — |
| 3055 N Miami Ave Unit 410 | condos | 0 | 1 | 513 | $594,900 | — |
10-year hold projection
IRR-11.0%
Equity multiple-0.88x
Total return (10yr)-$141,361
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $428,686 | -$6,490 | -$32,883 | $329,350 | $99,336 |
| 2 | $441,547 | -$6,586 | -$32,997 | $325,492 | $116,055 |
| 3 | $454,793 | -$6,683 | -$33,112 | $321,369 | $133,424 |
| 4 | $468,437 | -$6,780 | -$33,228 | $316,963 | $151,474 |
| 5 | $482,490 | -$6,877 | -$33,345 | $312,255 | $170,235 |
| 6 | $496,965 | -$6,975 | -$33,462 | $307,223 | $189,742 |
| 7 | $511,874 | -$7,073 | -$33,580 | $301,845 | $210,028 |
| 8 | $527,230 | -$7,171 | -$33,699 | $296,099 | $231,131 |
| 9 | $543,047 | -$7,269 | -$33,819 | $289,957 | $253,089 |
| 10 | $559,338 | -$7,367 | -$33,939 | $283,394 | $275,944 |
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.