15620 SW 188th Ct
Miami, FL 33187 · single_family · For Sale · 165 days on market
Asking price$8,500,000
7 beds 6 baths 7,384 sqft
Suggested offer$8,078,500$421,500 above the est. market value of $8,078,500.
View on Realtor.com →Listed by George Collazo Jr · The Source Commercial Realty LLC
Typesingle_family
Built—
Price / sqft$1151
Est. value (Realtor.com)$8,078,500
Rent estimate (own analysis)$25,000/mo
HOANone
1 / 94
Show every detail
Statusfor_sale
Listed date2026-03-21
Removed date—
MLSMiamiMLS #A11984327
Coordinates25.61815, -80.49965
Address15620 SW 188th Ct
CityMiami
StateFL
Zip33187
Listing ID9523836712
Sourcerealtor, cached 2026-08-21
ZIP market snapshot (33187)
Typical home value (ZHVI)$720,811
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 | $8,500,000 |
| Down payment (20.0%) | $1,700,000 |
| Loan amount | $6,800,000 |
| Closing costs (5.0%) | $425,000 |
| Total cash to close | $2,125,000 |
| Income | |
| Rent (comp-derived) | $25,000$300,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $23,000$276,000 |
| Operating expenses | |
| Property tax (real MLS tax bill, from Realtor Search) | $3,671$44,049 |
| Insurance (placeholder 0.8% of price) | $5,667$68,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,250$15,000 |
| Total operating expenses | $10,587$127,049 |
| 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) | $1,250$15,000 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 7 | 7 | 8,000 | $25,000 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 17340 SW 154th Pl | single_family | 6 | 4 | 2,587 | $815,000 | 2026-08-31 |
| 18280 SW 202nd St | single_family | 4 | 3 | 5,310 | $1,275,000 | 2026-08-31 |
| 17901 SW 152nd Ave | single_family | 6 | 4 | 3,002 | $820,000 | 2026-08-28 |
| 20076 SW 190th St | single_family | 5 | 3 | 2,244 | $1,135,000 | 2026-08-27 |
| 15620 SW 188th Ct | single_family | 7 | 6 | 7,384 | $7,500,000 | 2026-08-25 |
| 15288 SW 176th Ter | single_family | 5 | 5 | 3,396 | $800,000 | 2026-08-19 |
| 15102 SW 177th Ter | single_family | 4 | 4 | 2,612 | $720,000 | 2026-08-19 |
| 16933 SW 215th Ter | single_family | 5 | 4 | 3,243 | $950,000 | 2026-08-17 |
| 15100 SW 175th St | single_family | 5 | 3 | 3,128 | $1,010,000 | 2026-08-14 |
| 16020 SW 153rd Ave | single_family | 3 | 2 | 1,656 | $500,000 | 2026-08-13 |
| 17766 SW 154th Pl | single_family | 4 | 2 | 1,627 | $615,000 | 2026-08-10 |
| 14864 SW 163rd Ter | single_family | 5 | 3 | 2,640 | $799,000 | 2026-07-31 |
| 18049 SW 152nd Ave | single_family | 3 | 2 | 1,726 | $675,000 | 2026-07-30 |
| 14719 SW 176th St | single_family | 3 | 2 | 1,107 | $560,000 | 2026-07-30 |
| 15530 SW 155th Ave | single_family | 4 | 2 | 2,667 | $850,000 | 2026-07-30 |
| 15305 SW 209th Ave | single_family | 3 | 2 | 1,845 | $988,000 | 2026-07-23 |
| 20520 SW 190th St | single_family | 4 | 3 | 3,540 | $1,400,000 | 2026-07-20 |
| 14802 SW 176th Ter | single_family | 4 | 2 | 1,723 | $776,000 | 2026-07-20 |
| 19155 SW 190th St | single_family | 4 | 2 | 1,899 | $650,000 | 2026-07-15 |
| 18163 SW 149th Pl | single_family | 4 | 4 | 2,342 | $799,000 | 2026-07-14 |
| 16101 SW 153rd Ave | single_family | 4 | 3 | 2,396 | $787,000 | 2026-07-14 |
| 15296 SW 168th St | single_family | 4 | 3 | 2,107 | $945,000 | 2026-07-09 |
| 17481 SW 192nd St | single_family | 2 | 2 | — | $1,120,000 | 2026-07-07 |
| 17301 SW 149th Ct | single_family | 3 | 2 | 1,418 | $635,000 | 2026-07-07 |
| 15414 SW 147th Ave | single_family | 3 | 2 | 2,530 | $730,000 | 2026-07-02 |
| 15212 SW 148th Ct | single_family | 3 | 2 | 1,352 | $720,000 | 2026-06-30 |
| 15523 SW 171st St | single_family | 4 | 3 | 2,166 | $710,000 | 2026-06-30 |
| 19340 SW 190th St | single_family | 3 | 4 | 3,115 | $1,100,000 | 2026-06-30 |
| 15421 SW 158th St | single_family | 5 | 2 | 2,131 | $750,000 | 2026-06-29 |
| 14856 SW 174th St | single_family | 4 | 2 | 1,522 | $645,000 | 2026-06-26 |
| 18895 SW 212th St | single_family | 4 | 4 | 1,264 | $950,000 | 2026-06-26 |
| 17344 SW 149th Pl | single_family | 3 | 2 | 1,211 | $545,000 | 2026-06-22 |
| 16144 SW 148th Pl | single_family | 5 | 4 | 3,033 | $825,000 | 2026-06-18 |
| 19530 SW 210th St | single_family | 4 | 3 | 2,111 | $950,000 | 2026-06-16 |
| 14981 SW 180th Ter | single_family | 3 | 2 | 1,641 | $566,000 | 2026-06-11 |
| 14721 SW 170th Ter | single_family | 4 | 2 | 1,753 | $760,000 | 2026-06-05 |
| 15299 SW 167th St | single_family | 4 | 2 | 2,592 | $1,000,000 | 2026-06-04 |
| 15562 SW 177th Ter | single_family | 5 | 2 | 1,760 | $720,000 | 2026-06-02 |
| 17113 SW 215th Ter | single_family | 4 | 3 | 2,805 | $984,000 | 2026-05-30 |
| 15730 SW 152nd Ave | single_family | 3 | 2 | 1,250 | $680,000 | 2026-05-29 |
| 18451 SW 158th St | single_family | 6 | 9 | 11,520 | $6,100,000 | 2026-05-26 |
| 15900 SW 197th Ave | single_family | 3 | 2 | 2,580 | $1,370,000 | 2026-05-22 |
| 14931 SW 168th Ter | single_family | 3 | 2 | 1,658 | $690,000 | 2026-05-21 |
| 15519 SW 182nd Ln | single_family | 4 | 3 | 1,765 | $730,000 | 2026-05-19 |
| 15182 SW 171st St | single_family | 4 | 3 | 2,001 | $699,000 | 2026-05-18 |
| 15382 SW 153rd St | single_family | 4 | 2 | 1,898 | $839,000 | 2026-05-18 |
| 17921 SW 149th Ct | single_family | 5 | 5 | 3,427 | $1,129,900 | 2026-05-15 |
| 15796 SW 209th Ave | single_family | — | 0 | — | $650,000 | 2026-05-13 |
| 20250 SW 157th Ave | single_family | 3 | 2 | 3,463 | $850,000 | 2026-05-13 |
| 15431 SW 171st St | single_family | 5 | 3 | 2,249 | $680,000 | 2026-05-13 |
Widened to city-wide. 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 |
|---|---|---|---|---|---|---|
| 12701 SW 80th St | single_family | 7 | 5 | 3,420 | $1,100,000 | — |
| 19701 SW 197th Ave | single_family | 7 | 5 | 4,343 | $2,275,000 | — |
| 55-57 NE 156th St | single_family | 7 | 5 | 3,684 | $1,367,000 | — |
| 4025 SW 128th Ave | single_family | 7 | 6 | 4,991 | $2,599,900 | — |
| 10500 SW 126th St | single_family | 7 | 4 | 4,133 | $1,600,000 | — |
| 15445 SW 57th St | single_family | 7 | 5 | 1,665 | $795,000 | — |
| 19955 SW 186th St | single_family | 7 | 7 | 4,979 | $3,000,000 | — |
10-year hold projection
IRR-2.4%
Equity multiple0.60x
Total return (10yr)$264,330
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $8,755,000 | $148,951 | -$390,433 | $6,726,273 | $2,028,727 |
| 2 | $9,017,650 | $154,055 | -$385,704 | $6,647,483 | $2,370,167 |
| 3 | $9,288,180 | $159,328 | -$380,815 | $6,563,282 | $2,724,897 |
| 4 | $9,566,825 | $164,775 | -$375,762 | $6,473,300 | $3,093,525 |
| 5 | $9,853,830 | $170,402 | -$370,539 | $6,377,138 | $3,476,692 |
| 6 | $10,149,445 | $176,215 | -$365,139 | $6,274,372 | $3,875,072 |
| 7 | $10,453,928 | $182,221 | -$359,558 | $6,164,550 | $4,289,378 |
| 8 | $10,767,546 | $188,424 | -$353,790 | $6,047,185 | $4,720,360 |
| 9 | $11,090,572 | $194,832 | -$347,828 | $5,921,762 | $5,168,810 |
| 10 | $11,423,289 | $201,451 | -$341,666 | $5,787,725 | $5,635,564 |
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.