1097 NW 38th St
Miami, FL 33127 · multi_family · For Sale · 58 days on market
Asking price$660,000
4 beds 2 baths 1,482 sqft
Suggested offer$633,303$26,697 above the est. market value of $633,303.
View on Realtor.com →Listed by MARGEND PALACIOS P.A. · Sellstate Powerhouse Real Estate Group
Typemulti_family
Built—
Price / sqft$445
Est. value (own analysis)$633,303
Rent estimate (building total, own analysis)$6,047/mo
HOANone
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Statusfor_sale
Listed date2026-07-06
Removed date—
MLSMiamiMLS #A12048973
Coordinates25.81154, -80.21354
Address1097 NW 38th St
CityMiami
StateFL
Zip33127
Listing ID9312511804
Sourcerealtor, cached 2026-08-21
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 | $660,000 |
| Down payment (20.0%) | $132,000 |
| Loan amount | $528,000 |
| Closing costs (5.0%) | $33,000 |
| Total cash to close | $165,000 |
| Income | |
| Rent (estimate) | $6,047$72,559 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,563$66,754 |
| Operating expenses | |
| Property tax (real MLS tax bill, from Realtor Search) | $412$4,938 |
| Insurance (placeholder 0.8% of price) | $440$5,280 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $302$3,628 |
| Total operating expenses | $1,154$13,846 |
| 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) | $302$3,628 |
| 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 |
|---|---|---|---|---|---|---|---|
| multi_family | 4 | 2 | 1,686 | $3,400 | 2026-08-24 | — |
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 |
|---|---|---|---|---|---|---|
| 254 NW 50th St | multi_family | 4 | 2 | 1,876 | $600,000 | 2026-07-21 |
| 5620 NW 3rd Ave | multi_family | 4 | 2 | 1,392 | $520,000 | 2026-07-20 |
| 1171 NW 58th Ter | multi_family | 4 | 2 | 1,458 | $480,000 | 2026-07-08 |
| 166 NW 41st St | multi_family | 4 | — | 1,248 | $1,200,000 | 2026-07-06 |
| 599 NW 33rd St | multi_family | 4 | 4 | 2,241 | $1,200,000 | 2026-07-06 |
| 1028 NW 24th St | multi_family | 4 | 2 | 1,540 | $520,000 | 2026-06-17 |
| 444 NW 33rd St | multi_family | 4 | 3 | 1,488 | $25,000,000 | 2026-06-16 |
| 4400 NW 1st Ave | multi_family | 4 | 2 | 1,690 | $1,195,000 | 2026-06-08 |
| 100 NW 52nd St | multi_family | 4 | 2 | 1,800 | $300,000 | 2026-04-22 |
| 1019 NW 26th St | multi_family | 4 | 2 | 1,518 | $730,300 | 2026-03-31 |
| 5035 NW 5th Ave | multi_family | 4 | 2 | 1,690 | $1,000,000 | 2026-03-18 |
| 520 NW 49th St | multi_family | 4 | 1 | 2,230 | $1,200,000 | 2026-03-17 |
| 4543 N Miami Ave | multi_family | 4 | 3 | 2,160 | $2,200,000 | 2026-03-16 |
| 1184 NW 30th St | multi_family | 4 | 1 | 2,374 | $439,900 | 2026-03-09 |
| 5538 NW Miami Ct | multi_family | 4 | 2 | 1,115 | $390,000 | 2025-11-24 |
| 5720 NW 3rd Ave | multi_family | 4 | 2 | 1,690 | $605,000 | 2025-11-18 |
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 |
|---|---|---|---|---|---|---|
| 4746 NW 10th Ave | single_family | 4 | 4 | 2,252 | $925,000 | — |
| 347 NW 42nd St | single_family | 4 | 1 | 1,038 | $589,700 | — |
| 171 NW 47th St | multi_family | 4 | 2 | 1,540 | $1,099,999 | — |
| 1027 NW 29th St | multi_family | 4 | 3 | 1,165 | $1,495,000 | — |
| 1000 NW 39th St | multi_family | 4 | 3 | 1,904 | $850,000 | — |
| 4122 NW 11th Pl | single_family | 4 | 3 | 1,366 | $599,900 | — |
| 790 NW 56th St | multi_family | 4 | 2 | 1,572 | $510,000 | — |
| 1157 NW 45th St | single_family | 4 | 2 | 1,664 | $625,000 | — |
10-year hold projection
IRR15.1%
Equity multiple3.31x
Total return (10yr)$467,910
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $679,800 | $52,908 | $8,563 | $522,275 | $157,525 |
| 2 | $700,194 | $54,565 | $10,129 | $516,157 | $184,037 |
| 3 | $721,200 | $56,272 | $11,744 | $509,620 | $211,580 |
| 4 | $742,836 | $58,033 | $13,410 | $502,633 | $240,203 |
| 5 | $765,121 | $59,849 | $15,128 | $495,166 | $269,955 |
| 6 | $788,075 | $61,721 | $16,899 | $487,186 | $300,888 |
| 7 | $811,717 | $63,651 | $18,727 | $478,659 | $333,058 |
| 8 | $836,068 | $65,641 | $20,611 | $469,546 | $366,522 |
| 9 | $861,150 | $67,692 | $22,555 | $459,807 | $401,343 |
| 10 | $886,985 | $69,807 | $24,560 | $449,400 | $437,585 |
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.