| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $7,630,000 |
| Down payment (20.0%) | $1,526,000 |
| Loan amount | $6,104,000 |
| Closing costs (5.0%) | $381,500 |
| Total cash to close | $1,907,500 |
| Income | |
| Rent (comp-derived) | $8,775$105,300 |
| Vacancy loss (8.0%) | |
| Effective gross income | $8,073$96,876 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $12,081$144,970 |
| Insurance (placeholder 0.8% of price) | $5,087$61,040 |
| HOA dues | $4,800$57,600 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $439$5,265 |
| Total operating expenses | $22,406$268,875 |
| 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) | $439$5,265 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
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 | 2 | 1,041 | $4,500 | 2026-08-21 | — | |
| condos | 3 | 4 | 2,204 | $12,800 | 2026-08-20 | — | |
| condos | 3 | 3 | 1,043 | $7,000 | 2026-08-20 | — | |
| condos | 3 | 2 | 1,789 | $6,500 | 2026-08-19 | — | |
| condos | 3 | 2 | 1,515 | $5,500 | 2026-08-14 | — | |
| condos | 3 | 4 | 2,204 | $9,500 | 2026-08-14 | — | |
| condos | 3 | 4 | 1,953 | $13,500 | 2026-08-13 | — | |
| condos | 3 | 4 | 2,188 | $10,000 | 2026-08-12 | — | |
| apartment | 3 | 3 | 1,800 | $9,579 | 2026-08-10 | — | |
| condos | 3 | 4 | 2,188 | $12,500 | 2026-08-07 | — | |
| condos | 3 | 4 | 3,000 | $22,000 | 2026-08-06 | — | |
| condos | 3 | 2 | 1,789 | $6,200 | 2026-07-27 | — | |
| condos | 3 | 3 | 1,494 | $5,900 | 2026-07-22 | — | |
| apartment | 3 | 3 | 1,359 | $5,230 | 2026-07-14 | — | |
| condos | 3 | 3 | 1,795 | $6,500 | 2026-07-14 | — | |
| condos | 3 | 4 | 1,592 | $9,500 | 2026-07-13 | — | |
| condos | 3 | 2 | 1,602 | $5,800 | 2026-07-13 | — | |
| condos | 3 | 2 | 1,789 | $6,500 | 2026-07-10 | — | |
| condos | 3 | 4 | 2,204 | $11,000 | 2026-07-06 | — | |
| condos | 3 | 3 | 1,739 | $6,000 | 2026-07-01 | — | |
| condos | 3 | 3 | 1,127 | $7,999 | 2026-07-01 | — | |
| condos | 3 | 4 | 2,188 | $12,500 | 2026-06-24 | — | |
| condos | 3 | 4 | 1,694 | $7,900 | 2026-06-22 | — | |
| condos | 3 | 3 | 1,150 | $7,500 | 2026-06-19 | — | |
| condos | 3 | 3 | 2,301 | $6,900 | 2026-06-19 | — | |
| condos | 3 | 2 | 1,789 | $6,300 | 2026-06-08 | — | |
| condos | 3 | 3 | 1,840 | $6,500 | 2026-06-03 | — | |
| condos | 3 | 3 | 1,840 | $7,000 | 2026-06-02 | — | |
| condos | 3 | 4 | 1,592 | $7,500 | 2026-06-02 | — | |
| condos | 3 | 3 | 1,547 | $8,000 | 2026-05-31 | — | |
| condos | 3 | 2 | 1,322 | $4,600 | 2026-05-15 | — | |
| condos | 3 | 7 | 2,958 | $9,000 | 2026-05-15 | — | |
| condos | 3 | 4 | 2,145 | $10,500 | 2026-05-08 | — | |
| condos | 3 | 4 | 2,204 | $12,500 | 2026-04-27 | — | |
| condos | 3 | 3 | 1,827 | $6,800 | 2026-08-04 | — | |
| condos | 3 | 4 | 2,188 | $11,300 | 2026-07-31 | — | |
| condos | 3 | 4 | 2,204 | $15,000 | 2026-07-30 | — | |
| condos | 3 | 3 | 1,135 | $7,500 | 2026-03-18 | — | |
| condos | 3 | 3 | 2,081 | $10,000 | 2026-01-15 | — | |
| condos | 3 | 3 | 2,106 | $12,900 | 2026-04-13 | — | |
| condos | 3 | 4 | 2,018 | $12,750 | 2025-11-04 | — | |
| condos | 3 | 3 | 2,731 | $15,000 | 2026-04-03 | — | |
| apartment | 3 | 2 | 1,808 | $25,000 | 2022-08-18 | — | |
| condos | 3 | 4 | 2,018 | $12,500 | 2026-04-27 | — | |
| condos | 3 | 4 | 2,202 | $8,995 | 2026-03-24 | — | |
| condos | 3 | 4 | 2,145 | $11,900 | 2022-03-04 | — | |
| condos | 3 | 3 | 2,106 | $10,750 | 2026-04-16 | — | |
| condos | 3 | 4 | 2,165 | $14,500 | 2026-02-21 | — | |
| condos | 3 | 3 | 1,633 | $9,000 | 2024-11-20 | — | |
| condos | 3 | 3 | 1,498 | $8,500 | 2026-04-13 | — | |
| condos | 3 | 3 | 1,040 | $6,980 | 2025-12-19 | — | |
| condos | 3 | 3 | 1,135 | $8,650 | 2025-07-06 | — | |
| apartment | 3 | 3 | 1,150 | $9,500 | 2026-03-05 | — | |
| condos | 3 | 2 | 1,038 | $5,200 | — | — | |
| condos | 3 | 3 | 1,795 | $8,000 | — | — | |
| condos | 3 | 3 | 1,936 | $8,900 | 2026-08-26 | — | |
| condos | 3 | 4 | 2,188 | $12,000 | 2026-08-28 | — | |
| condos | 3 | 4 | 2,823 | $18,200 | 2026-08-26 | — | |
| apartment | 3 | 5 | 2,823 | $16,800 | 2026-08-27 | — | |
| condos | 3 | 2 | 1,496 | $5,200 | 2026-03-24 | — | |
| condos | 3 | 3 | 1,246 | $9,000 | 2025-05-27 | — | |
| apartment | 3 | 3 | 1,359 | $5,240 | — | — | |
| apartment | 3 | 3 | 1,590 | $5,500 | — | — | |
| condos | 3 | 4 | 2,204 | $12,800 | — | — | |
| condos | 3 | 4 | 2,204 | $9,750 | — | — | |
| condos | 3 | 4 | 2,165 | $14,500 | — | — | |
| apartment | 3 | 3 | 1,359 | $5,245 | — | — | |
| apartment | 3 | 2 | 1,272 | $5,640 | — | — | |
| apartment | 3 | 2 | 1,272 | $6,165 | — | — | |
| apartment | 3 | 3 | 1,359 | $5,230 | — | — | |
| apartment | 3 | 2 | 1,272 | $6,000 | — | — | |
| apartment | 3 | 2 | 1,808 | $10,450 | — | — | |
| condos | 3 | 4 | 2,450 | $26,000 | 2026-08-31 | — | |
| condos | 3 | 3 | 1,127 | $7,999 | — | — |
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 |
|---|---|---|---|---|---|---|
| 1800 N Bayshore Dr Apt 1901 | condos | 3 | 3 | 2,189 | $1,420,000 | 2026-08-17 |
| 488 NE 18th St Unit 5012 | condos | 3 | 4 | 2,365 | $2,575,000 | 2026-08-14 |
| 398 NE 5th St Apt 4518 | condos | 3 | 3 | 1,135 | $1,050,000 | 2026-08-14 |
| 851 NE 1st Ave Unit 1412 | condos | 3 | 4 | 2,165 | $1,290,000 | 2026-08-05 |
| 601 NE 1 St Unit 2716 | condos | 3 | 3 | 1,633 | $1,175,000 | 2026-07-24 |
| 50 Biscayne Blvd Apt 3510 | condos | 3 | 2 | 1,789 | $1,025,000 | 2026-07-17 |
| 1717 N Bayshore Dr Unit A2451 | condos | 3 | 3 | 1,840 | $705,000 | 2026-07-10 |
| 900 Biscayne Blvd Apt 3709 | condos | 3 | 3 | 1,579 | $1,175,000 | 2026-06-30 |
| 50 Biscayne Blvd Apt 3702 | condos | 3 | 2 | 1,789 | $1,020,000 | 2026-06-12 |
| 851 NE 1st Ave Unit 3401 | condos | 3 | 4 | 2,204 | $1,475,000 | 2026-06-12 |
| 1900 N Bayshore Dr Apt 2512 | condos | 3 | 3 | 1,494 | $830,000 | 2026-05-28 |
| 601 NE 1st Ave Unit 3316 | condos | 3 | 3 | — | $1,100,000 | 2026-05-27 |
| 50 Biscayne Blvd Apt 1902 | condos | 3 | 2 | 1,789 | $1,035,000 | 2026-04-30 |
| 275 NE 18th St Apt 1207 | condos | 3 | 2 | 1,318 | $605,000 | 2026-04-29 |
| 1800 N Bayshore Dr Apt 1801 | condos | 3 | 3 | 2,189 | $1,400,000 | 2026-04-16 |
| 851 NE 1st Ave Unit 1611 | condos | 3 | 4 | 2,188 | $1,350,000 | 2026-03-16 |
| 900 Biscayne Blvd Apt 3902 | condos | 3 | 3 | 1,575 | $1,150,000 | 2026-03-09 |
| 1900 N Bayshore Dr Apt 4902 | condos | 3 | 4 | 1,970 | $1,342,000 | 2026-03-09 |
| 900 Biscayne Blvd Apt 2106 | condos | 3 | 4 | 2,145 | $1,800,000 | 2026-03-09 |
| 900 Biscayne Blvd Apt 1707 | condos | 3 | 3 | 1,630 | $1,420,000 | 2026-03-06 |
| 50 Biscayne Blvd Apt 3102 | condos | 3 | 2 | 1,789 | $1,030,000 | 2026-02-27 |
| 488 NE 18th St Unit 4612 | condos | 3 | 4 | 2,018 | $2,225,000 | 2026-02-20 |
| 488 NE 18th St Unit 2010 | condos | 3 | 4 | 1,592 | $1,040,000 | 2026-02-18 |
| 488 NE 18th St Unit 3912 | condos | 3 | 4 | 2,018 | $2,300,000 | 2026-01-27 |
| 1717 N Bayshore Dr Unit A2751 | condos | 3 | 3 | 1,840 | $690,000 | 2026-01-06 |
| 1800 N Bayshore Dr Apt 2201 | condos | 3 | 3 | 2,189 | $1,475,000 | 2025-12-23 |
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 |
|---|---|---|---|---|---|---|
| 851 NE 1st Ave Unit 3711 | condos | 3 | 4 | 2,188 | $1,675,000 | — |
| 398 NE 5th St Apt 4701 | condos | 3 | 3 | 1,150 | $1,650,000 | — |
| 1400 Biscayne Blvd Unit 3501 | condos | 3 | 4 | 1,953 | $2,650,000 | — |
| 175 NE 10 Street | condo | 3 | 2 | 1,531 | $1,984,000 | — |
| 1400 Biscayne Blvd Unit 3201 | condos | 3 | 4 | 1,953 | $2,725,000 | — |
| 398 NE 5th St Apt 2118 | condos | 3 | 3 | 1,135 | $1,225,000 | — |
| 1717 N Bayshore Dr Unit A1951 | condos | 3 | 3 | 1,840 | $975,000 | — |
| 159 NE 6th St Unit 2415 | condos | 3 | 3 | 1,373 | $1,225,000 | — |
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $7,858,900 | -$171,999 | -$647,975 | $6,037,819 | $1,821,081 |
| 2 | $8,094,667 | -$175,815 | -$651,923 | $5,967,093 | $2,127,574 |
| 3 | $8,337,507 | -$179,711 | -$655,954 | $5,891,511 | $2,445,996 |
| 4 | $8,587,632 | -$183,690 | -$660,071 | $5,810,738 | $2,776,894 |
| 5 | $8,845,261 | -$187,753 | -$664,276 | $5,724,419 | $3,120,843 |
| 6 | $9,110,619 | -$191,902 | -$668,570 | $5,632,171 | $3,478,448 |
| 7 | $9,383,938 | -$196,138 | -$672,955 | $5,533,589 | $3,850,348 |
| 8 | $9,665,456 | -$200,463 | -$677,432 | $5,428,238 | $4,237,218 |
| 9 | $9,955,419 | -$204,878 | -$682,005 | $5,315,652 | $4,639,768 |
| 10 | $10,254,082 | -$209,387 | -$686,673 | $5,195,334 | $5,058,748 |