16585 NE 3rd Ave
Miami, FL 33162 · multi_family · For Sale · 234 days on market
Asking price$2,950,000
12 beds 12 baths 5,850 sqft
Suggested offer$1,567,524$1,382,476 above the est. market value of $1,567,524.
View on Realtor.com →Listed by Abdiel Ramos · Bruckman Realty, Llc
Typemulti_family
Built2014
Price / sqft$504
Est. value (own analysis)$1,567,524
Rent estimate (building total, own analysis)$13,982/mo
HOANone
1 / 10
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Statusfor_sale
Listed date2026-01-12
Removed date—
MLSMiamiMLS #A11942087
Coordinates25.92736, -80.19405
Address16585 NE 3rd Ave
CityMiami
StateFL
Zip33162
Listing ID9134006673
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33162)
Typical home value (ZHVI)$472,330
Typical rent (ZORI)$2,262/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 | $2,950,000 |
| Down payment (20.0%) | $590,000 |
| Loan amount | $2,360,000 |
| Closing costs (5.0%) | $147,500 |
| Total cash to close | $737,500 |
| Income | |
| Rent (estimate) | $13,982$167,778 |
| Vacancy loss (8.0%) | |
| Effective gross income | $12,863$154,356 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $4,671$56,050 |
| Insurance (placeholder 0.8% of price) | $1,967$23,600 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $699$8,389 |
| Total operating expenses | $7,337$88,039 |
| 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) | $699$8,389 |
| 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 |
|---|---|---|---|---|---|---|
| 16204 NE 18th Ct | multi_family | — | — | 1,375 | $575,000 | 2026-08-21 |
| 2135 NE 170th St Apt 2 | multi_family | 3 | 3 | 1,848 | $570,000 | 2026-08-05 |
| 2071 NE 169th St | multi_family | 4 | 2 | 1,230 | $525,000 | 2026-07-09 |
| 16030 NE 19th Pl | multi_family | — | — | 2,956 | $855,000 | 2026-06-17 |
| 15961 NE 18th Pl | multi_family | — | — | 2,952 | $840,000 | 2026-05-28 |
| 1440 NE 171st St Apt 4 | multi_family | 4 | 4 | 3,830 | $890,000 | 2026-05-12 |
| 335 337 Ne 168th St | multi_family | — | — | 1,866 | $500,000 | 2026-04-30 |
| 1440 NE 171st St | multi_family | 4 | 4 | 3,830 | $890,000 | 2026-04-30 |
| 65 NE 152nd St | multi_family | 10 | 2 | 4,245 | $1,250,000 | 2026-04-24 |
| 1990 NE 168th St | multi_family | — | — | — | $740,000 | 2026-04-24 |
| 1420 NE 171st St | multi_family | 4 | 4 | 3,880 | $850,000 | 2026-04-16 |
| 17090 NE 3rd Ct | multi_family | — | — | 1,754 | $450,000 | 2026-04-13 |
| 17000-17002 NE 3rd Ct | multi_family | — | — | 1,710 | $450,000 | 2026-04-13 |
| 2023 NE 169th St | multi_family | — | — | 1,413 | $491,500 | 2026-03-20 |
| 1226 NE 151st St | multi_family | 4 | 2 | 1,995 | $457,500 | 2026-03-05 |
| 1410 NE 171st St Apt 3 | multi_family | 8 | 4 | 4,220 | $910,000 | 2026-01-28 |
| 1410 NE 171st St | multi_family | 8 | 4 | 4,220 | $910,000 | 2026-01-21 |
| 1985 NE 172nd St | multi_family | 4 | 4 | 2,606 | $755,000 | 2025-12-31 |
| 1985 NE 172nd St | multi_family | 4 | 4 | 2,606 | $755,000 | 2025-12-31 |
| 16178 NE 19th Pl | multi_family | 10 | 6 | 6,746 | $1,045,000 | 2025-12-04 |
Widened to city-wide. 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 |
|---|---|---|---|---|---|---|
| 6480 NE 1st Ave | multi_family | 12 | 8 | 7,570 | $2,150,000 | — |
| 1910 NW 72nd St | multi_family | 12 | 7 | 4,951 | $1,125,000 | — |
10-year hold projection
IRR-1.2%
Equity multiple0.80x
Total return (10yr)$235,151
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $3,038,500 | $66,317 | -$124,064 | $2,334,412 | $704,088 |
| 2 | $3,129,655 | $68,747 | -$121,844 | $2,307,068 | $822,588 |
| 3 | $3,223,545 | $71,260 | -$119,545 | $2,277,845 | $945,700 |
| 4 | $3,320,251 | $73,860 | -$117,165 | $2,246,616 | $1,073,635 |
| 5 | $3,419,859 | $76,550 | -$114,701 | $2,213,242 | $1,206,617 |
| 6 | $3,522,454 | $79,333 | -$112,151 | $2,177,576 | $1,344,878 |
| 7 | $3,628,128 | $82,211 | -$109,510 | $2,139,461 | $1,488,667 |
| 8 | $3,736,972 | $85,188 | -$106,776 | $2,098,729 | $1,638,243 |
| 9 | $3,849,081 | $88,266 | -$103,947 | $2,055,199 | $1,793,882 |
| 10 | $3,964,553 | $91,451 | -$101,018 | $2,008,680 | $1,955,873 |
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.