851 NE 1st Ave Unit 504
Miami, FL 33132 · condos · For Sale · 44 days on market
Asking price$410,000
0 beds 1 baths 704 sqft
Listed by Michael Mann · Douglas Elliman
Typecondos
Built2019
Price / sqft$582
Est. value (own analysis)$610,019
Rent estimate (own analysis)$2,585/mo
HOA$900/mo
1 / 14
Show every detail
Statusfor_sale
Listed date2026-07-20
Removed date—
MLSMiamiMLS #A12054631
Coordinates25.78289, -80.19191
Address851 NE 1st Ave Unit 504
CityMiami
StateFL
Zip33132
Listing ID9541474925
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33132)
Typical home value (ZHVI)$514,716
Typical rent (ZORI)$3,468/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 | $410,000 |
| Down payment (20.0%) | $82,000 |
| Loan amount | $328,000 |
| Closing costs (5.0%) | $20,500 |
| Total cash to close | $102,500 |
| Income | |
| Rent (comp-derived) | $2,585$31,020 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,378$28,538 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $649$7,790 |
| Insurance (placeholder 0.8% of price) | $273$3,280 |
| HOA dues | $900$10,800 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $129$1,551 |
| Total operating expenses | $1,952$23,421 |
| 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) | $129$1,551 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 0 | 1 | 499 | $2,750 | 2024-11-21 | — | |
| condos | 0 | 1 | 567 | $2,300 | 2026-08-21 | — | |
| condos | 0 | 1 | 503 | $2,300 | 2026-08-17 | — | |
| condos | 0 | 1 | 474 | $3,000 | 2026-08-17 | — | |
| apartment | 0 | 1 | 594 | $2,450 | 2026-08-13 | — | |
| condos | 0 | 1 | 582 | $2,550 | 2026-08-12 | — | |
| apartment | 0 | 1 | 542 | $2,750 | 2026-08-10 | — | |
| condos | 0 | 1 | 503 | $2,290 | 2026-08-10 | — | |
| condos | 0 | 1 | 662 | $3,550 | 2026-08-07 | — | |
| condos | 0 | 1 | 503 | $2,200 | 2026-08-07 | — | |
| condos | 0 | 1 | 508 | $2,200 | 2026-08-06 | — | |
| condos | 0 | 1 | 501 | $1,950 | 2026-07-23 | — | |
| apartment | 0 | 1 | 580 | $2,600 | 2026-07-20 | — | |
| condos | 0 | 1 | 503 | $2,200 | 2026-07-19 | — | |
| condos | 0 | — | 704 | $3,750 | 2026-07-16 | — | |
| condos | 0 | 1 | 508 | $2,500 | 2026-07-15 | — | |
| condos | 0 | 1 | 580 | $2,650 | 2026-07-08 | — | |
| apartment | 0 | 1 | 588 | $2,600 | 2026-07-07 | — | |
| condos | 0 | 1 | 474 | $3,500 | 2026-07-03 | — | |
| condos | 0 | 1 | 567 | $2,200 | 2026-06-26 | — | |
| condos | 0 | 1 | 506 | $2,100 | 2026-06-25 | — | |
| condos | 0 | 1 | 463 | $3,800 | 2026-06-17 | — | |
| condos | 0 | 1 | 567 | $2,200 | 2026-06-17 | — | |
| condos | 0 | 1 | 506 | $2,150 | 2026-06-02 | — | |
| condos | 0 | 1 | 613 | $2,900 | 2026-05-20 | — | |
| condos | 0 | 1 | 501 | $2,200 | 2026-05-19 | — | |
| condos | 0 | 1 | 632 | $2,500 | 2026-05-18 | — | |
| condos | 0 | 1 | 500 | $2,049 | 2026-05-14 | — | |
| condos | 0 | 1 | 508 | $2,250 | 2026-05-13 | — | |
| condos | 0 | 1 | 567 | $2,350 | 2026-05-11 | — | |
| condos | 0 | 1 | 506 | $2,200 | 2026-05-07 | — | |
| condos | 0 | 1 | 500 | $4,500 | 2026-04-29 | — | |
| condos | 0 | 1 | 503 | $2,150 | 2026-04-27 | — | |
| condos | 0 | 1 | 588 | $2,700 | 2026-08-03 | — | |
| condos | 0 | 1 | 632 | $2,550 | 2026-07-28 | — | |
| apartment | 0 | 1 | 542 | $2,454 | 2026-01-15 | — | |
| condos | 0 | 1 | 506 | $2,100 | 2025-10-20 | — | |
| condos | 0 | 1 | 508 | $2,200 | 2026-04-14 | — | |
| apartment | 0 | 1 | 508 | $2,200 | 2026-03-16 | — | |
| condos | 0 | 1 | 492 | $2,700 | 2024-09-04 | — | |
| condos | 0 | 1 | 481 | $3,000 | 2026-04-27 | — | |
| condos | 0 | 1 | 632 | $2,700 | 2026-03-25 | — | |
| condos | 0 | 1 | 630 | $3,000 | 2026-01-22 | — | |
| condos | 0 | 1 | 501 | $3,550 | 2025-07-09 | — | |
| condos | 0 | 1 | 460 | $3,250 | 2026-04-14 | — | |
| apartment | 0 | 1 | 532 | $2,925 | — | — | |
| apartment | 0 | 1 | 499 | $2,560 | — | — | |
| apartment | 0 | 1 | 527 | $2,350 | — | — | |
| apartment | 0 | 1 | 525 | $2,530 | — | — | |
| apartment | 0 | 1 | 584 | $2,630 | — | — | |
| apartment | 0 | 1 | 499 | $2,720 | — | — | |
| condos | 0 | 1 | 481 | $2,300 | 2026-08-26 | — | |
| condos | 0 | 1 | 580 | $2,500 | 2026-08-27 | — | |
| condos | 0 | — | 622 | $2,999 | 2026-08-26 | — | |
| apartment | 0 | 1 | 532 | $2,585 | — | — | |
| apartment | 0 | 1 | 525 | $2,555 | — | — | |
| apartment | 0 | 1 | 509 | $3,260 | — | — | |
| apartment | 0 | 1 | 532 | $2,765 | — | — | |
| apartment | 0 | 1 | 532 | $2,800 | — | — | |
| apartment | 0 | 1 | 508 | $2,515 | — | — | |
| apartment | 0 | 1 | 525 | $2,585 | — | — | |
| apartment | 0 | 1 | 532 | $2,570 | — | — | |
| apartment | 0 | 1 | 508 | $2,570 | — | — | |
| apartment | 0 | 1 | 532 | $2,775 | — | — | |
| apartment | 0 | 1 | 592 | $2,660 | — | — | |
| apartment | 0 | 1 | 508 | $2,695 | — | — | |
| apartment | 0 | 1 | 508 | $2,555 | — | — | |
| apartment | 0 | 1 | 532 | $2,535 | — | — | |
| apartment | 0 | 1 | 527 | $2,310 | — | — | |
| apartment | 0 | 1 | 527 | $2,300 | — | — | |
| apartment | 0 | 1 | 584 | $2,650 | — | — | |
| apartment | 0 | 1 | 532 | $2,290 | — | — | |
| apartment | 0 | 1 | 527 | $2,520 | — | — | |
| apartment | 0 | 1 | 499 | $2,550 | — | — | |
| apartment | 0 | 1 | 499 | $2,570 | — | — | |
| apartment | 0 | 1 | 542 | $3,000 | — | — | |
| apartment | 0 | 1 | 592 | $2,740 | — | — | |
| apartment | 0 | 1 | 511 | $2,844 | — | — | |
| apartment | 0 | 1 | 665 | $2,946 | — | — | |
| apartment | 0 | 1 | 511 | $2,844 | — | — | |
| apartment | 0 | 1 | 508 | $2,350 | — | — | |
| apartment | 0 | 1 | 532 | $2,330 | — | — | |
| apartment | 0 | 1 | 508 | $2,605 | — | — | |
| apartment | 0 | 1 | 508 | $2,315 | — | — | |
| apartment | 0 | 1 | 508 | $2,355 | — | — | |
| apartment | 0 | 1 | 603 | $2,797 | — | — | |
| apartment | 0 | 1 | 508 | $2,730 | — | — | |
| apartment | 0 | 1 | 594 | $2,450 | — | — | |
| apartment | 0 | 1 | 594 | $2,470 | — | — | |
| apartment | 0 | 1 | 594 | $2,450 | — | — | |
| apartment | 0 | 1 | 532 | $2,710 | — | — | |
| apartment | 0 | 1 | 508 | $2,800 | — | — | |
| apartment | 0 | 1 | 532 | $2,830 | — | — | |
| apartment | 0 | 1 | 532 | $2,780 | — | — | |
| apartment | 0 | 1 | 532 | $2,765 | — | — | |
| apartment | 0 | 1 | 525 | $2,925 | — | — | |
| apartment | 0 | 1 | 713 | $3,104 | — | — | |
| apartment | 0 | 1 | 536 | $3,169 | — | — | |
| apartment | 0 | 1 | 526 | $3,144 | — | — | |
| apartment | 0 | 1 | 567 | $3,212 | — | — | |
| apartment | 0 | 1 | 567 | $3,232 | — | — | |
| apartment | 0 | 1 | 580 | $3,348 | — | — | |
| apartment | 0 | 1 | 713 | $3,612 | — | — | |
| apartment | 0 | 1 | 629 | $3,821 | — | — | |
| condos | 0 | 1 | 594 | $2,300 | 2026-08-31 | — | |
| condos | 0 | 1 | 484 | $2,500 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 398 NE 5th St Apt 4207 | condos | 0 | 1 | 442 | $540,000 | 2026-08-24 |
| 20 NE 11th St Apt 4807B | condos | 0 | 1 | — | $420,000 | 2026-08-17 |
| 253 NE 2nd St Apt 3105 | condos | 0 | 1 | 632 | $325,000 | 2026-08-17 |
| 1750 N Bayshore Dr Apt 5408 | condos | 0 | 1 | 503 | $255,000 | 2026-07-23 |
| 20 NE 11th St Unit 2503B | condos | 0 | 1 | 336 | $450,000 | 2026-07-20 |
| 253 NE 2nd St Apt 220 | condos | 0 | 1 | 560 | $255,000 | 2026-07-17 |
| 50 Biscayne Blvd Apt 711 | condos | 0 | 1 | 501 | $316,500 | 2026-07-15 |
| 227 NE 2nd St Apt 2911 | condos | 0 | 1 | 446 | $335,000 | 2026-07-13 |
| 227 NE 2nd St Apt 2412 | condos | 0 | 1 | 446 | $350,000 | 2026-07-10 |
| 1600 NE 1st Ave Apt 3302 | condos | 0 | 1 | — | $360,000 | 2026-07-10 |
| 11 NE 6th St Unit 902 | condos | 0 | 1 | 350 | $405,000 | 2026-06-18 |
| 851 NE 1st Ave Unit CABANA15 | condos | 0 | 1 | — | $200,000 | 2026-06-02 |
| 253 NE 2nd St Apt 324 | condos | 0 | 1 | 506 | $222,500 | 2026-05-22 |
| 20 NE 11th St Unit 2606B | condos | 0 | 1 | 275 | $450,000 | 2026-05-08 |
| 398 NE 5th St Apt 2316 | condos | 0 | 1 | 362 | $420,000 | 2026-05-07 |
| 227 NE 2nd St Apt 2908 | condos | 0 | 1 | 393 | $365,000 | 2026-04-17 |
| 227 NE 2nd St Apt 2112 | condos | 0 | 1 | 412 | $357,000 | 2026-04-17 |
| 398 NE 5th St Apt 4616 | condos | 0 | 1 | 362 | $415,000 | 2026-04-15 |
| 244 Biscayne Blvd Apt 348 | condos | 0 | 1 | 501 | $250,000 | 2026-04-02 |
| 253 NE 2nd St Apt 318 | condos | 0 | 1 | 506 | $230,000 | 2026-02-20 |
| 1750 N Bayshore Dr Apt 2808 | condos | 0 | 1 | 503 | $230,000 | 2026-02-10 |
| 398 NE 5th St Apt 1906 | condos | 0 | 1 | 443 | $475,000 | 2026-01-28 |
| 398 NE 5th St Apt 2016 | condos | 0 | 1 | 362 | $365,000 | 2026-01-27 |
| 227 NE 2nd St Apt 2512 | condos | 0 | 1 | 412 | $365,000 | 2025-12-15 |
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 |
|---|---|---|---|---|---|---|
| 20 NE 11 St Unit 3403B | condos | 0 | 1 | 305 | $449,000 | — |
| 121 NE 5th St Apt 709 | condos | 0 | 1 | 402 | $390,000 | — |
| 20 NE 11th St Apt 2805 | condos | 0 | 1 | — | $650,000 | — |
| 11 NE 6th St Unit 2606 | condos | 0 | 1 | 350 | $374,999 | — |
| 159 NE 6th St Unit 1920 | condos | 0 | 1 | 332 | $349,000 | — |
| 1600 NE 1st Ave Apt 1102 | condos | 0 | 1 | 580 | $370,000 | — |
| 159 NE 6th St Unit 3506 | condos | 0 | 1 | 374 | $429,000 | — |
| 20 NE 11th St Apt 3003 | condos | 0 | 1 | 336 | $558,000 | — |
10-year hold projection
IRR-4.1%
Equity multiple0.32x
Total return (10yr)-$15,715
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $422,300 | $5,117 | -$21,727 | $324,444 | $97,856 |
| 2 | $434,969 | $5,388 | -$21,496 | $320,643 | $114,326 |
| 3 | $448,018 | $5,670 | -$21,254 | $316,582 | $131,436 |
| 4 | $461,459 | $5,963 | -$21,001 | $312,241 | $149,217 |
| 5 | $475,302 | $6,268 | -$20,738 | $307,603 | $167,700 |
| 6 | $489,561 | $6,585 | -$20,464 | $302,646 | $186,916 |
| 7 | $504,248 | $6,915 | -$20,177 | $297,349 | $206,900 |
| 8 | $519,376 | $7,258 | -$19,879 | $291,687 | $227,688 |
| 9 | $534,957 | $7,615 | -$19,568 | $285,637 | $249,320 |
| 10 | $551,006 | $7,987 | -$19,244 | $279,172 | $271,834 |
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.