7940 West Dr Unit 1503
Miami, FL 33141 · condos · For Sale · 56 days on market
Asking price$4,403,900
3 beds 4 baths 2,402 sqft
Suggested offer$1,526,464$2,877,436 above the est. market value of $1,526,464.
View on Realtor.com →Listed by Diana Boytell · Fortune Christie's International Real Estate
Typecondos
Built2028
Price / sqft$1833
Est. value (own analysis)$1,526,464
Rent estimate (own analysis)$13,000/mo
HOA$4,203/mo
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Statusfor_sale
Listed date2026-07-08
Removed date—
MLSMiamiMLS #A12049638
Coordinates25.85351, -80.16048
Address7940 West Dr Unit 1503
CityMiami
StateFL
Zip33141
Listing ID9354997083
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33141)
Typical home value (ZHVI)$429,204
Typical rent (ZORI)$2,504/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 | $4,403,900 |
| Down payment (20.0%) | $880,780 |
| Loan amount | $3,523,120 |
| Closing costs (5.0%) | $220,195 |
| Total cash to close | $1,100,975 |
| Income | |
| Rent (comp-derived) | $13,000$156,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $11,960$143,520 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,973$83,674 |
| Insurance (placeholder 0.8% of price) | $2,936$35,231 |
| HOA dues | $4,203$50,436 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $650$7,800 |
| Total operating expenses | $14,762$177,141 |
| 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) | $650$7,800 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 3 | 4 | 1,839 | $10,900 | 2025-11-06 | — | |
| condos | 3 | 3 | 1,761 | $14,000 | 2026-08-28 | — | |
| condos | 3 | 3 | 1,950 | $3,950 | 2026-07-30 | — | |
| condos | 3 | 3 | 1,761 | $11,000 | 2026-08-07 | — | |
| condos | 3 | 4 | 2,156 | $13,000 | 2026-08-01 | — | |
| condos | 3 | 3 | 1,712 | $4,300 | 2026-08-05 | — | |
| condos | 3 | 5 | 2,880 | $40,000 | 2026-08-04 | — | |
| condos | 3 | 4 | 2,456 | $8,900 | 2026-06-27 | — | |
| condos | 3 | 3 | 1,700 | $7,000 | 2026-08-16 | — | |
| condos | 3 | 3 | 1,761 | $15,000 | 2026-05-18 | — | |
| condos | 3 | 4 | 2,226 | $25,000 | 2026-07-08 | — | |
| condos | 3 | 3 | 1,753 | $5,100 | 2026-03-31 | — | |
| condos | 3 | 3 | 2,050 | $16,500 | 2026-08-06 | — | |
| condos | 3 | 3 | 1,700 | $8,000 | 2026-04-13 | — | |
| condos | 3 | 3 | 2,096 | $19,950 | 2026-04-23 | — | |
| condos | 3 | 3 | 1,761 | $15,000 | 2026-04-15 | — | |
| condos | 3 | 4 | 2,498 | $9,000 | 2026-07-15 | — | |
| condos | 3 | 4 | 2,210 | $16,500 | 2026-01-28 | — | |
| condos | 3 | 4 | 2,395 | $15,000 | — | — | |
| condos | 3 | 3 | 1,700 | $7,000 | — | — | |
| condos | 3 | 3 | 2,050 | $16,500 | — | — |
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 |
|---|---|---|---|---|---|---|
| 7545 E Treasure Dr Apt 5H | condos | 3 | 2 | 1,302 | $295,000 | 2026-08-10 |
| 7929 West Dr Apt 1503 | condos | 3 | 3 | 1,771 | $800,000 | 2026-08-07 |
| 7928 East Dr Apt 708 | condos | 3 | 3 | 1,358 | $800,000 | 2026-07-03 |
| 6700 Indian Creek Dr Apt 908 | condos | 3 | 4 | 1,669 | $1,370,000 | 2026-06-25 |
| 7918 Harbor Island Dr Apt 311 | condos | 3 | 2 | 1,336 | $835,000 | 2026-06-11 |
| 6700 Indian Creek Dr Apt 1207 | condos | 3 | 3 | 1,304 | $1,250,000 | 2026-06-11 |
| 7914 Harbor Island Dr Apt 205 | condos | 3 | 2 | 1,336 | $700,000 | 2026-06-05 |
| 6901 Collins Ave Unit 401 | condos | 3 | 4 | 2,133 | $4,000,000 | 2026-05-01 |
| 6301 Collins Ave Apt 2203 | condos | 3 | 3 | 1,700 | $1,130,000 | 2026-04-30 |
| 6365 Collins Ave Apt 1901 | condos | 3 | 3 | 1,761 | $2,100,000 | 2026-04-27 |
| 7929 West Dr Apt 1601 | condos | 3 | 3 | 2,065 | $1,200,000 | 2026-04-17 |
| 6101 Aqua Ave Apt 602 | condos | 3 | 4 | 2,395 | $3,450,000 | 2026-04-15 |
| 7934 West Dr Apt 901 | condos | 3 | 2 | 1,906 | $880,000 | 2026-03-04 |
| 6301 Collins Ave Apt 1903 | condos | 3 | 3 | 1,700 | $1,280,000 | 2026-02-17 |
| 6103 Aqua Ave Apt 301 | condos | 3 | 4 | 2,203 | $1,400,000 | 2026-01-30 |
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 |
|---|---|---|---|---|---|---|
| 7441 Wayne Ave Apt 3H | condos | 3 | 2 | 1,181 | $365,000 | — |
| 1885 Daytonia Rd | single_family | 3 | 2 | 2,760 | $3,800,000 | — |
| 771 Fairway Dr | single_family | 3 | 4 | 2,146 | $2,575,000 | — |
| 1460 Marseille Dr | single_family | 3 | 2 | 2,005 | $890,000 | — |
| 711 85th St | single_family | 3 | 3 | 1,344 | $699,000 | — |
| 2131 Biarritz Dr | single_family | 3 | 2 | 1,360 | $995,000 | — |
| 6899 Collins Ave Unit 1602 | condos | 3 | 3 | 2,050 | $2,775,000 | — |
| 6620 Indian Creek Dr Apt 712 | condos | 3 | 4 | 1,841 | $1,565,000 | — |
10-year hold projection
IRR-9.0%
Equity multiple-0.53x
Total return (10yr)-$1,104,495
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,536,017 | -$33,621 | -$313,108 | $3,484,922 | $1,051,095 |
| 2 | $4,672,098 | -$33,744 | -$313,425 | $3,444,100 | $1,227,998 |
| 3 | $4,812,260 | -$33,849 | -$313,730 | $3,400,475 | $1,411,785 |
| 4 | $4,956,628 | -$33,934 | -$314,020 | $3,353,854 | $1,602,774 |
| 5 | $5,105,327 | -$33,998 | -$314,294 | $3,304,032 | $1,801,295 |
| 6 | $5,258,487 | -$34,040 | -$314,551 | $3,250,789 | $2,007,698 |
| 7 | $5,416,242 | -$34,059 | -$314,791 | $3,193,889 | $2,222,352 |
| 8 | $5,578,729 | -$34,054 | -$315,012 | $3,133,082 | $2,445,647 |
| 9 | $5,746,091 | -$34,023 | -$315,212 | $3,068,099 | $2,677,991 |
| 10 | $5,918,473 | -$33,964 | -$315,392 | $2,998,654 | $2,919,819 |
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.