1611 SW 2nd Ave Unit 1005
Miami, FL 33129 · condos · For Sale · 77 days on market
Asking price$639,000
0 beds 1 baths 353 sqft
Suggested offer$181,558$457,442 above the est. market value of $181,558.
View on Realtor.com →Listed by Hector Duque · United Realty Group Inc
Typecondos
Built2026
Price / sqft$1810
Est. value (own analysis)$181,558
Rent estimate (own analysis)$1,550/mo
HOA$1,090/mo
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Statusfor_sale
Listed date2026-06-17
Removed date—
MLSMiamiMLS #A12037905
Coordinates25.75991, -80.19780
Address1611 SW 2nd Ave Unit 1005
CityMiami
StateFL
Zip33129
Listing ID9542665262
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33129)
Typical home value (ZHVI)$689,590
Typical rent (ZORI)$3,599/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 | $639,000 |
| Down payment (20.0%) | $127,800 |
| Loan amount | $511,200 |
| Closing costs (5.0%) | $31,950 |
| Total cash to close | $159,750 |
| Income | |
| Rent (comp-derived) | $1,550$18,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,426$17,112 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,012$12,141 |
| Insurance (placeholder 0.8% of price) | $426$5,112 |
| HOA dues | $1,090$13,080 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $78$930 |
| Total operating expenses | $2,605$31,263 |
| 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) | $78$930 |
| 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 | 475 | $1,550 | 2026-07-09 | — | |
| apartment | 0 | 1 | 400 | $1,550 | 2026-08-24 | — | |
| condos | 0 | 1 | 330 | $2,495 | 2026-08-27 | — |
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 |
|---|---|---|---|---|---|---|
| 175 SE 25th Rd Apt 1202 | condos | 3 | 4 | 2,115 | $4,000,000 | 2026-08-28 |
| 2475 Brickell Ave Apt 2407 | condos | 2 | 2 | 1,190 | $700,000 | 2026-08-24 |
| 2525 SW 3rd Ave Apt 1603 | condos | 1 | 1 | 821 | $425,000 | 2026-08-22 |
| 1643 Brickell Ave Apt 2506 | condos | 2 | 3 | 2,100 | $1,965,000 | 2026-08-18 |
| 1541 Brickell Ave Unit C1505 | condos | 2 | 2 | 1,697 | $601,000 | 2026-08-17 |
| 1643 Brickell Ave Apt 4102 | condos | 4 | 6 | 5,730 | $7,000,000 | 2026-08-14 |
| 1901 Brickell Ave Apt B1512 | condos | 2 | 2 | 1,362 | $630,000 | 2026-08-13 |
| 201 SW 17th Rd Unit 606 | condos | 1 | 1 | 682 | $348,641 | 2026-08-07 |
| 1925 NE Brickell Ave Unit 1703 | condos | 1 | 2 | 1,005 | $480,000 | 2026-08-06 |
| 2501 Brickell Ave Apt 903 | condos | 2 | 2 | 1,100 | $560,000 | 2026-07-31 |
| 1901 Brickell Ave Apt B1107 | condos | 1 | 2 | 1,064 | $454,000 | 2026-07-27 |
| 1865 Brickell Ave Apt A1104 | condos | 1 | 2 | 868 | $410,000 | 2026-07-23 |
| 1925 Brickell Ave Apt D1808 | condos | 3 | 3 | 2,124 | $850,000 | 2026-07-20 |
| 1600 SW 1st Ave Apt 305 | condos | 1 | 1 | 607 | $450,000 | 2026-07-17 |
| 175 SE 25th Rd Apt 1601 | condos | 3 | 4 | 2,100 | $4,000,000 | 2026-07-17 |
| 1901 Brickell Ave Apt B413 | condos | 2 | 2 | 1,467 | $600,000 | 2026-07-16 |
| 2101 Brickell Ave Apt 2103 | condos | 1 | 1 | 791 | $485,000 | 2026-07-15 |
| 1925 Brickell Ave Apt DPH3 | condos | 5 | 6 | 5,430 | $3,000,000 | 2026-07-09 |
| 1865 Brickell Ave Apt A1209 | condos | 3 | 3 | 2,133 | $1,041,000 | 2026-06-24 |
| 2333 Brickell Ave Apt 2310 | condos | 2 | 2 | 1,100 | $550,000 | 2026-06-16 |
| 1581 Brickell Ave Apt 2302 | condos | 2 | 2 | 1,795 | $1,300,000 | 2026-06-15 |
| 150 SE 25th Rd Apt 11L | condos | 1 | 2 | 804 | $495,000 | 2026-06-12 |
| 2127 Brickell Ave Apt 3304 | condos | 2 | 3 | 2,070 | $1,840,000 | 2026-06-11 |
| 2333 Brickell Ave Apt 1507 | condos | 2 | 2 | 1,100 | $649,000 | 2026-06-08 |
| 929 SW 11th St Unit H2 | condos | 3 | 4 | 2,185 | $800,000 | 2026-05-20 |
| 2101 Brickell Ave Apt 306 | condos | 2 | 2 | 1,367 | $875,000 | 2026-05-13 |
| 1643 Brickell Ave Apt 2304 | condos | 2 | 3 | 2,580 | $2,750,000 | 2026-05-12 |
| 2451 Brickell Ave Apt 12C | condos | 1 | 1 | 886 | $440,000 | 2026-05-12 |
| 6751891375 | condos | 2 | 2 | 1,400 | $480,000 | 2026-05-01 |
| 201 SW 17th Rd Unit 304 | condos | 1 | 1 | 714 | $300,000 | 2026-04-30 |
| 1581 Brickell Ave Unit 107 | condos | 1 | 2 | 1,042 | $455,000 | 2026-04-30 |
| 1541 Brickell Ave Unit C608 | condos | 3 | 3 | 1,869 | $975,000 | 2026-04-30 |
| 1901 Brickell Ave Apt B1408 | condos | 2 | 2 | 1,661 | $650,000 | 2026-04-24 |
| 1581 Brickell Ave Apt 2104 | condos | 2 | 3 | 2,121 | $1,250,000 | 2026-04-21 |
| 1541 Brickell Ave Unit A2301 | condos | 2 | 2 | 1,697 | $852,500 | 2026-04-17 |
| 1600 SW 1st Ave Apt 510 | condos | 2 | 2 | 796 | $490,000 | 2026-04-14 |
| 2025 Brickell Ave Apt 901 | condos | 3 | 3 | 2,149 | $1,112,000 | 2026-04-13 |
| 2525 SW 3rd Ave Apt 1106 | condos | 2 | 2 | 955 | $530,000 | 2026-04-13 |
| 2127 Brickell Ave Apt 801 | condos | 3 | 3 | 2,600 | $2,075,000 | 2026-04-13 |
| 1541 Brickell Ave Apt A2102 | condos | 2 | 2 | 1,640 | $750,000 | 2026-04-08 |
| 145 SE 25th Rd Apt 702 | condos | 2 | 2 | 1,430 | $485,000 | 2026-03-31 |
| 150 SE 25th Rd Apt 8L | condos | 1 | 2 | 804 | $488,500 | 2026-03-31 |
| 1541 Brickell Ave Apt C2705 | condos | 2 | 2 | 1,697 | $825,000 | 2026-03-31 |
| 2333 Brickell Ave Apt 2607 | condos | 2 | 2 | 1,100 | $560,000 | 2026-03-23 |
| 2530 SW 3rd Ave Apt 305 | condos | 2 | 2 | 875 | $330,000 | 2026-03-22 |
| 2333 Brickell Ave Apt 2609 | condos | 1 | 2 | 930 | $560,000 | 2026-03-17 |
| 2451 Brickell Ave Apt 14D | condos | 3 | 3 | 1,703 | $1,200,000 | 2026-03-13 |
| 2333 Brickell Ave Apt 1207 | condos | 2 | 2 | 1,100 | $552,000 | 2026-03-13 |
| 200 SE 15th Rd Apt 15C | condos | 2 | 2 | 984 | $780,000 | 2026-03-10 |
| 1901 Brickell Ave Apt B1711 | condos | 2 | 2 | 1,362 | $470,000 | 2026-03-06 |
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 |
|---|---|---|---|---|---|---|
| 1741 SW 2nd Ave Unit 514 | condos | 0 | 1 | — | $720,000 | — |
| 1741 SW 2nd Ave Unit 330 | condos | 0 | 1 | — | $545,000 | — |
| 1741 SW 2nd Ave Unit 428 | condos | 0 | 1 | — | $475,000 | — |
| 1611 SW 2nd Ave Unit 713 | condos | 0 | 1 | — | $599,000 | — |
| 1915 Brickell Ave Apt CC6 | condos | 0 | 1 | 324 | $395,000 | — |
| 1611 SW 2nd Ave Unit 504 | condos | 0 | 1 | 330 | $540,000 | — |
| 1865 Brickell Ave Unit A105 | condos | 0 | — | 339 | $185,000 | — |
| 1600 SW 1st Ave Apt 411 | condos | 0 | 1 | 566 | $359,000 | — |
10-year hold projection
IRR-12.6%
Equity multiple-1.17x
Total return (10yr)-$262,852
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $658,170 | -$14,151 | -$54,502 | $505,657 | $152,513 |
| 2 | $677,915 | -$14,419 | -$54,794 | $499,734 | $178,181 |
| 3 | $698,253 | -$14,692 | -$55,090 | $493,404 | $204,848 |
| 4 | $719,200 | -$14,968 | -$55,391 | $486,640 | $232,560 |
| 5 | $740,776 | -$15,249 | -$55,697 | $479,411 | $261,366 |
| 6 | $762,999 | -$15,534 | -$56,007 | $471,685 | $291,314 |
| 7 | $785,889 | -$15,823 | -$56,323 | $463,429 | $322,461 |
| 8 | $809,466 | -$16,116 | -$56,643 | $454,606 | $354,860 |
| 9 | $833,750 | -$16,414 | -$56,968 | $445,177 | $388,573 |
| 10 | $858,763 | -$16,716 | -$57,299 | $435,100 | $423,662 |
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.