2505 NE 193rd St Unit 4208
Miami, FL 33180 · townhomes · For Sale · 142 days on market
Asking price$475,000
2 beds 3 baths 1,392 sqft
Suggested offer$460,500$14,500 above the est. market value of $460,500.
View on Realtor.com →Listed by Mariano Saal · TIR Prime Properties Corp.
Typetownhomes
Built—
Price / sqft$341
Est. value (Realtor.com)$460,500
Rent estimate (own analysis)$3,200/mo
HOA$705/mo
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Statusfor_sale
Listed date2026-04-13
Removed date—
MLSMiamiMLS #A11988794
Coordinates25.95441, -80.15025
Address2505 NE 193rd St Unit 4208
CityMiami
StateFL
Zip33180
Listing ID9380214460
Sourcerealtor, cached 2026-08-21
ZIP market snapshot (33180)
Typical home value (ZHVI)$463,036
Typical rent (ZORI)$3,210/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 | $475,000 |
| Down payment (20.0%) | $95,000 |
| Loan amount | $380,000 |
| Closing costs (5.0%) | $23,750 |
| Total cash to close | $118,750 |
| Income | |
| Rent (comp-derived) | $3,200$38,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,944$35,328 |
| Operating expenses | |
| Property tax (real MLS tax bill, from Realtor Search) | $568$6,817 |
| Insurance (placeholder 0.8% of price) | $317$3,800 |
| HOA dues | $705$8,460 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $160$1,920 |
| Total operating expenses | $1,750$20,997 |
| 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) | $160$1,920 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 2 | 2 | 1,270 | $3,000 | 2026-03-11 | — | |
| townhomes | 2 | 3 | 1,392 | $2,800 | 2026-04-05 | — | |
| townhomes | 2 | 2 | 1,271 | $3,400 | — | — | |
| townhomes | 2 | 2 | 1,316 | $3,200 | 2026-08-04 | — | |
| townhomes | 2 | 2 | 1,270 | $3,200 | 2026-08-25 | — | |
| townhomes | 2 | 2 | 1,316 | $3,600 | 2026-07-23 | — |
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 |
|---|---|---|---|---|---|---|
| 2991 NE 185th St Apt 1706 | townhomes | 4 | 3 | 1,481 | $535,000 | 2026-08-24 |
| 19220 NE 25th Ave Unit 271B | townhomes | 3 | 3 | 1,688 | $400,000 | 2026-07-16 |
| 20200 W Country Club Dr Apt 112 | townhomes | 3 | 3 | 1,330 | $350,000 | 2026-07-13 |
| 3525 Magellan Cir Apt 626 | townhomes | 3 | 3 | 1,707 | $720,000 | 2026-07-08 |
| 21204 Harbor Way Unit 122-12 | townhomes | 2 | 3 | 1,250 | $475,000 | 2026-07-01 |
| 20350 W Country Club Dr Apt 123 | townhomes | 3 | 3 | 1,330 | $312,500 | 2026-06-15 |
| 20350 W Country Club Dr Unit 120-4 | townhomes | 3 | 3 | 1,330 | $270,000 | 2026-06-10 |
| 21160 Mainsail Cir Apt H12 | townhomes | 3 | 3 | 1,520 | $625,000 | 2026-06-10 |
| 21399 Marina Cove Cir Apt 14 | townhomes | 4 | 4 | 2,700 | $750,000 | 2026-06-09 |
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 |
|---|---|---|---|---|---|---|
| 2535 NE 193rd St Unit 3203 | townhomes | 2 | 3 | 1,273 | $429,900 | — |
| 18800 NE 29th Ave Unit LP1022 | condos | 2 | 2 | 1,179 | $399,900 | — |
| 18550 NE 23rd Ct Unit 503 | condos | 2 | 2 | 953 | $849,950 | — |
| 2775 NE 187th St Apt 325 | condos | 2 | 2 | 1,066 | $390,000 | — |
| 3300 NE 191st St Unit LP10 | condos | 2 | 2 | 1,065 | $319,900 | — |
| 2555 NE 193rd St Unit 2206 | townhomes | 2 | 3 | 1,392 | $459,000 | — |
| 20505 E Country Club Dr Ph 38 | condos | 2 | 2 | 1,214 | $360,000 | — |
| 2535 NE 193rd St Unit 3212 | condos | 2 | 3 | 1,273 | $463,500 | — |
10-year hold projection
IRR0.7%
Equity multiple1.11x
Total return (10yr)$75,139
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $489,250 | $14,331 | -$16,893 | $375,880 | $113,370 |
| 2 | $503,928 | $14,866 | -$16,406 | $371,477 | $132,450 |
| 3 | $519,045 | $15,420 | -$15,901 | $366,772 | $152,274 |
| 4 | $534,617 | $15,992 | -$15,379 | $361,743 | $172,873 |
| 5 | $550,655 | $16,585 | -$14,838 | $356,370 | $194,286 |
| 6 | $567,175 | $17,199 | -$14,277 | $350,627 | $216,548 |
| 7 | $584,190 | $17,833 | -$13,697 | $344,490 | $239,700 |
| 8 | $601,716 | $18,490 | -$13,096 | $337,931 | $263,784 |
| 9 | $619,767 | $19,170 | -$12,473 | $330,922 | $288,845 |
| 10 | $638,360 | $19,873 | -$11,829 | $323,432 | $314,928 |
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.