965 W 23rd St
Hialeah, FL 33010 · single_family · For Sale · 377 days on market
Asking price$584,900
5 beds 2 baths 1,816 sqft
Suggested offer$511,476$73,424 above the est. market value of $511,476.
View on Realtor.com →Listed by Richard Deeb · South Florida Realty Llc
Typesingle_family
Built1957
Price / sqft$322
Est. value (own analysis)$511,476
Rent estimate (own analysis)$4,900/mo
HOANone
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Statusfor_sale
Listed date2025-08-21
Removed date—
MLSMiamiMLS #A11860638
Coordinates25.84279, -80.30152
Address965 W 23rd St
CityHialeah
StateFL
Zip33010
Listing ID9296447581
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33010)
Typical home value (ZHVI)$536,631
Typical rent (ZORI)$2,166/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 | $584,900 |
| Down payment (20.0%) | $116,980 |
| Loan amount | $467,920 |
| Closing costs (5.0%) | $29,245 |
| Total cash to close | $146,225 |
| Income | |
| Rent (comp-derived) | $4,900$58,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,508$54,096 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $926$11,113 |
| Insurance (placeholder 0.8% of price) | $390$4,679 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $245$2,940 |
| Total operating expenses | $1,561$18,732 |
| 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) | $245$2,940 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 4 | 1,769 | $5,450 | — | — | |
| single_family | 5 | 2 | 1,750 | $4,900 | 2026-07-01 | — | |
| single_family | 5 | 3 | 2,263 | $4,200 | — | — |
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 |
|---|---|---|---|---|---|---|
| 840 SE 4th Pl | single_family | 5 | 3 | 2,124 | $500,000 | 2026-06-09 |
| 174 E 15th St | single_family | 5 | 2 | 2,284 | $580,000 | 2026-06-03 |
| 412 W 15th St | single_family | 5 | 3 | 2,295 | $710,000 | 2026-04-10 |
| 359 E 19th St | single_family | 5 | 5 | 1,876 | $645,000 | 2025-10-28 |
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 W 13th St | single_family | 5 | 3 | — | $650,000 | — |
| 921 E 14th St | single_family | 5 | 4 | 2,253 | $690,000 | — |
| 611 SE 4th St | single_family | 5 | 2 | 1,425 | $675,000 | — |
| 940 E 9th Pl | single_family | 5 | 4 | 1,558 | $550,000 | — |
| 750 NE 4th Pl | single_family | 5 | 2 | 1,752 | $615,000 | — |
| 329 W 18th St | multi_family | 5 | 3 | 2,054 | $885,000 | — |
| 42 E 13th St | multi_family | 5 | 3 | 1,655 | $700,000 | — |
| 350 To to Lo Chee Dr | single_family | 5 | 4 | 2,933 | $850,000 | — |
10-year hold projection
IRR9.2%
Equity multiple2.44x
Total return (10yr)$287,323
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $602,447 | $35,364 | -$3,660 | $462,847 | $139,600 |
| 2 | $620,520 | $36,518 | -$2,579 | $457,425 | $163,095 |
| 3 | $639,136 | $37,710 | -$1,463 | $451,631 | $187,505 |
| 4 | $658,310 | $38,940 | -$310 | $445,439 | $212,871 |
| 5 | $678,059 | $40,209 | $880 | $438,822 | $239,237 |
| 6 | $698,401 | $41,518 | $2,108 | $431,751 | $266,651 |
| 7 | $719,353 | $42,870 | $3,376 | $424,193 | $295,160 |
| 8 | $740,934 | $44,264 | $4,686 | $416,117 | $324,816 |
| 9 | $763,162 | $45,704 | $6,038 | $407,487 | $355,675 |
| 10 | $786,057 | $47,189 | $7,434 | $398,263 | $387,793 |
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.