235 18th St
Miami Beach, FL 33139 · multi_family · For Sale · 105 days on market
Asking price$3,950,000
— beds — baths 4,779 sqft
Suggested offer$2,439,632$1,510,368 above the est. market value of $2,439,632.
View on Realtor.com →Listed by Silvana Carvalho · Majestic Properties LLC
Typemulti_family
Built1937
Price / sqft$827
Est. value (own analysis)$2,439,632
Rent estimate (building total, own analysis)$22,318/mo
HOANone
1 / 42
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Statusfor_sale
Listed date2026-05-20
Removed date—
MLSMiamiMLS #A12022142
Coordinates25.79407, -80.13023
Address235 18th St
CityMiami Beach
StateFL
Zip33139
Listing ID9498568390
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $3,950,000 |
| Down payment (20.0%) | $790,000 |
| Loan amount | $3,160,000 |
| Closing costs (5.0%) | $197,500 |
| Total cash to close | $987,500 |
| Income | |
| Rent (estimate) | $22,318$267,815 |
| Vacancy loss (8.0%) | |
| Effective gross income | $20,533$246,390 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $6,254$75,050 |
| Insurance (placeholder 0.8% of price) | $2,633$31,600 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,116$13,391 |
| Total operating expenses | $10,003$120,041 |
| 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) | $1,116$13,391 |
| 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.
No active rental listings cached yet for this bedroom count.
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 |
|---|---|---|---|---|---|---|
| 901 Pennsylvania Ave | multi_family | — | — | — | $3,250,000 | 2026-08-24 |
| 1580 Bay Rd | multi_family | 8 | 6 | 4,500 | $3,000,000 | 2026-08-07 |
| 335 Washington Ave | multi_family | 4 | 2 | 2,253 | $3,250,000 | 2026-08-06 |
| 745-747 Lenox Ave | multi_family | — | — | 1,760 | $2,950,000 | 2026-03-20 |
| 1534 Euclid Ave | multi_family | — | — | 3,990 | $2,000,000 | 2026-02-27 |
| 1150 8th St | multi_family | 10 | 6 | 5,426 | $2,820,000 | 2026-01-16 |
| 1124 Pennsylvania Ave | multi_family | — | — | 8,140 | $2,900,000 | 2025-10-31 |
| 660 Lenox Ave | multi_family | — | — | 4,213 | $1,975,000 | 2025-09-10 |
| 650 Lenox Ave | multi_family | — | — | 4,213 | $1,975,000 | 2025-09-10 |
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.
No other cached listings nearby for this bedroom count yet.
10-year hold projection
IRR1.3%
Equity multiple1.21x
Total return (10yr)$721,739
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,068,500 | $126,349 | -$130,726 | $3,125,739 | $942,761 |
| 2 | $4,190,555 | $130,740 | -$126,670 | $3,089,124 | $1,101,431 |
| 3 | $4,316,272 | $135,277 | -$122,476 | $3,049,996 | $1,266,276 |
| 4 | $4,445,760 | $139,966 | -$118,138 | $3,008,180 | $1,437,579 |
| 5 | $4,579,133 | $144,812 | -$113,653 | $2,963,493 | $1,615,639 |
| 6 | $4,716,507 | $149,818 | -$109,016 | $2,915,738 | $1,800,769 |
| 7 | $4,858,002 | $154,992 | -$104,221 | $2,864,702 | $1,993,299 |
| 8 | $5,003,742 | $160,338 | -$99,264 | $2,810,163 | $2,193,579 |
| 9 | $5,153,854 | $165,861 | -$94,138 | $2,751,878 | $2,401,977 |
| 10 | $5,308,470 | $171,569 | -$88,839 | $2,689,590 | $2,618,880 |
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.