451 SE 8th St Lot 56
Homestead, FL 33030 · mobile · For Sale · 15 days on market
Asking price$65,000
2 beds 1 baths — sqft
Listed by Giovanni Campos · RE/MAX Advance Realty II
Typemobile
Built1968
Price / sqft—
Est. value (own analysis)$245,000
Rent estimate (Zillow ZIP avg)$2,465/mo
HOA$900/mo
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⚠ Cap rate of 20.3% is above the 20% sanity ceiling — verify the underlying price, rent, and expense data before trusting this.
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Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12070869
Coordinates25.46307, -80.47285
Address451 SE 8th St Lot 56
CityHomestead
StateFL
Zip33030
Listing ID9231331657
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33030)
Typical home value (ZHVI)$521,479
Typical rent (ZORI)$2,465/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 | $65,000 |
| Down payment (20.0%) | $13,000 |
| Loan amount | $52,000 |
| Closing costs (5.0%) | $3,250 |
| Total cash to close | $16,250 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,465$29,583 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,268$27,217 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $103$1,235 |
| Insurance (placeholder 0.8% of price) | $43$520 |
| HOA dues | $900$10,800 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $123$1,479 |
| Total operating expenses | $1,170$14,034 |
| 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) | $123$1,479 |
| 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 |
|---|---|---|---|---|---|---|---|
| mobile | 2 | 2 | 850 | $1,850 | 2026-05-10 | — | |
| mobile | 2 | 2 | 1,170 | $1,675 | 2026-07-01 | — |
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 |
|---|---|---|---|---|---|---|
| 220 NE 12th Ave Lot 137 | mobile | 4 | 2 | 2,128 | $280,000 | 2026-08-10 |
| 220 NE 12th Ave | mobile | 4 | 2 | 1,456 | $140,000 | 2026-07-07 |
| 220 NE 12th Ave Lot 182 | mobile | 3 | 2 | 1,344 | $195,000 | 2026-06-30 |
| 220 NE 12th Ave Lot 219 | mobile | 3 | 2 | 1,680 | $245,000 | 2026-03-12 |
| 220 NE 12th Ave Lot 186 | mobile | 3 | 2 | 1,456 | $255,000 | 2026-02-26 |
| 220 NE 12th Ave Lot 150 | mobile | 3 | 2 | 1,344 | $246,000 | 2025-11-14 |
| 220 NE 12th Ave Lot 210 | mobile | 3 | 2 | 1,400 | $200,000 | 2025-10-21 |
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 |
|---|---|---|---|---|---|---|
| 722 SW 3rd Ave | single_family | 2 | 1 | 600 | $225,000 | — |
| 536 SW 6th Ter | multi_family | 2 | 2 | 900 | $375,000 | — |
| 100 SE 6th Ave | mobile | 2 | 1 | — | $49,000 | — |
| 21025 SW 300th St | single_family | 2 | 1 | 1,946 | $1,200,000 | — |
| 1238 Old Dixie Hwy | single_family | 2 | 1 | 720 | $399,900 | — |
| 265 NE 12th Ave Unit 265 | condos | 2 | 2 | 1,084 | $210,000 | — |
| 515 SW 3rd Ave | multi_family | 2 | 1 | 2,414 | $1,000,090 | — |
| 611 SW 8th Ave | multi_family | 2 | 1 | 1,346 | $445,000 | — |
10-year hold projection
IRR53.2%
Equity multiple8.37x
Total return (10yr)$128,203
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $66,950 | $13,183 | $7,693 | $51,436 | $15,514 |
| 2 | $68,959 | $13,648 | $8,122 | $50,834 | $18,125 |
| 3 | $71,027 | $14,130 | $8,565 | $50,190 | $20,838 |
| 4 | $73,158 | $14,627 | $9,024 | $49,501 | $23,657 |
| 5 | $75,353 | $15,142 | $9,499 | $48,766 | $26,587 |
| 6 | $77,613 | $15,673 | $9,990 | $47,980 | $29,633 |
| 7 | $79,942 | $16,223 | $10,497 | $47,140 | $32,802 |
| 8 | $82,340 | $16,791 | $11,023 | $46,243 | $36,097 |
| 9 | $84,810 | $17,378 | $11,566 | $45,283 | $39,527 |
| 10 | $87,355 | $17,985 | $12,128 | $44,258 | $43,096 |
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.