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55-57 NE 156th St

Miami, FL 33162 · single_family · Pending — under contract · 106 days on market
Asking price$1,367,000
7 beds 5 baths 3,684 sqft
View on Realtor.com →
Listed by Ignacio Diaz · Developers Group Realty
Typesingle_family
Built1944
Price / sqft$371
Est. value (own analysis)$1,602,872
Rent estimate (own analysis)$31,500/mo
HOANone
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⚠ Cap rate of 21.4% is above the 20% sanity ceiling — verify the underlying price, rent, and expense data before trusting this. Cash-on-cash return of 55.2% is above the 50% sanity ceiling for a standard buy-and-hold — verify inputs before trusting this.
Show every detail
Statusfor_sale
Listed date2026-05-19
Removed date—
MLSMiamiMLS #A12019933
Coordinates—
Address55-57 NE 156th St
CityMiami
StateFL
Zip33162
Listing ID9558467900
Sourceus-real-estate-listings, cached 2026-09-01

ZIP market snapshot (33162)

Typical home value (ZHVI)$472,330
Typical rent (ZORI)$2,262/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$1,367,000
Down payment (20.0%)$273,400
Loan amount$1,093,600
Closing costs (5.0%)$68,350
Total cash to close$341,750
Income
Rent (comp-derived)$31,500$378,000
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$378,000
Vacancy rate (assumption) assumption8.0%

$378,000 × 8.0% = $30,240

Effective gross income$28,980$347,760
Operating expenses
Property tax (placeholder 1.9% of price)$2,164$25,973
Insurance (placeholder 0.8% of price)$911$10,936
HOA dues$0$0
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$1,575$18,900
Total operating expenses$4,651$55,809
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$347,760
Total operating expenses derived$55,809

$347,760 − $55,809 = $291,951

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$1,093,600
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$1,093,600 amortized at 6.7% over 30 years = $7,028/mo

CapEx reserve (5.0% of GSR)$1,575$18,900
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$291,951
Annual debt service derived$84,333
Annual CapEx reserve assumption$18,900
Annual PMI assumption$0

($291,951 − $84,333 − $18,900 − $0) ÷ 12 = $15,726

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$291,951
Purchase price data$1,367,000

$291,951 ÷ $1,367,000 = 21.4%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived$188,718
Total cash to close derived$341,750

$188,718 ÷ $341,750 = 55.2%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$291,951
Annual debt service derived$84,333

$291,951 ÷ $84,333 = 3.46

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$378,000
Purchase price data$1,367,000

($378,000 ÷ 12) ÷ $1,367,000 = 2.3%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,367,000
Gross scheduled rent (annual) comp$378,000

$1,367,000 ÷ $378,000 = 3.6

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$55,809
Effective gross income derived$347,760

$55,809 ÷ $347,760 = 16.0%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$55,809
Annual debt service derived$84,333
Annual PMI assumption$0
Gross scheduled rent (annual) comp$378,000

($55,809 + $84,333 + $0) ÷ $378,000 = 37.1%

Comparables

Widened to city-wide. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
single_family752,670$8,0002026-07-14—
single_family732,986$8,0002026-08-25—
single_family784,931$70,0002026-03-16—
single_family773,973$31,500——
single_family773,973$31,500——

3154 SW 5th St

Miami, 33135 · rent comp

Bedrooms / bathrooms7 bd / 5 ba
Square footage2,670
Listed2026-07-14
Days on market—

Asking rent: $8,000

View on Zillow →

1701 NW 19th Ave Unit 1701

Miami, 33125 · rent comp

Bedrooms / bathrooms7 bd / 3 ba
Square footage2,986
Listed2026-08-25
Days on market—

Asking rent: $8,000

View on Zillow →

1200 NE 87th St

Miami, 33138 · rent comp

Bedrooms / bathrooms7 bd / 8 ba
Square footage4,931
Listed2026-03-16
Days on market—

Asking rent: $70,000

View on Zillow →

1606 S Bayshore Dr

Miami, 33133 · rent comp

Bedrooms / bathrooms7 bd / 7 ba
Square footage3,973
Listed—
Days on market—

Asking rent: $31,500

View on Zillow →

1606 S Bayshore Dr # 0

Miami, 33133 · rent comp

Bedrooms / bathrooms7 bd / 7 ba
Square footage3,973
Listed—
Days on market—

Asking rent: $31,500

View on Zillow →

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.

AddressTypeBedsBathsLiving sqftSale priceSale date
1243 NE 159th Stsingle_family111,009$310,0002026-09-02
1801 NE 176th Stsingle_family321,276$450,0002026-09-01
785 NE 155th Stsingle_family322,741$580,0002026-08-31
2174 NE 182nd Stsingle_family321,514$465,0002026-08-28
1440 NE 174th Stsingle_family331,327$560,0002026-08-25
300 NE 175th Stsingle_family321,074$655,0002026-08-25
16500 NE 5th Avesingle_family311,650$400,0002026-08-21
15250 NE 2nd Avesingle_family221,025$465,0002026-08-21
345 NE 168th Stsingle_family21702$195,0002026-08-17
310 NE 162nd Stsingle_family431,536$525,0002026-08-14
130 NE 152nd Stsingle_family322,632$625,0002026-08-14
1635 NE 160th Stsingle_family21976$430,0002026-08-14
630 NE 165th Stsingle_family321,940$590,0002026-08-11
1991 NE 178th Stsingle_family21880$430,0002026-08-11
1232 NE 181st Stsingle_family331,056$505,0002026-08-11
651 NE 172nd Stsingle_family212,237$1,449,0002026-08-07
16049 NE 9th Plsingle_family311,050$465,0002026-08-06
17805 NE 7th Ctsingle_family321,260$604,7702026-08-05
280 NE 173rd Stsingle_family321,027$475,0002026-08-04
479 NE 151st Stsingle_family311,195$400,0002026-08-03
921 NE 159th Stsingle_family321,094$405,0002026-08-03
1498 NE 180th Stsingle_family311,276$360,0002026-07-31
1990 NE 181st Stsingle_family311,012$475,0002026-07-30
550 NE 173rd Stsingle_family321,586$630,0002026-07-29
840 NE 179th Tersingle_family321,817$750,0002026-07-27
1560 NE 154th Stsingle_family42900$475,0002026-07-24
15206 NE 8th Avesingle_family21850$510,0002026-07-24
190 NE 173rd Stsingle_family221,513$700,0002026-07-24
1432 NE 181st Stsingle_family221,356$499,9002026-07-24
266 NE 162nd Stsingle_family321,014$540,0002026-07-22
1674 NE 169th Stsingle_family321,100$560,0002026-07-21
860 NE 171st Tersingle_family321,475$500,0002026-07-20
1070 NE 158th Stsingle_family21988$470,0002026-07-20
2041 NE 182nd Stsingle_family221,034$510,0002026-07-20
315 NE 160th Tersingle_family211,513$650,0002026-07-16
1829 NE 176th Stsingle_family311,360$650,0002026-07-15
175 NE 159th Stsingle_family421,749$670,0002026-07-15
865 NE 174th Stsingle_family321,448$840,0002026-07-14
271 NE 169th Stsingle_family21910$330,0002026-07-10
55 NE 171st Tersingle_family311,345$245,0002026-07-08
990 NE 159th Stsingle_family311,256$400,0002026-07-06
865 NE 177th Stsingle_family421,545$715,0002026-07-06
640 NE 160th Stsingle_family321,462$480,0002026-07-02
1025 NE 171st Tersingle_family321,482$770,0002026-06-30
1380 NE 153rd Stsingle_family421,691$360,0002026-06-30
18140 S Glades Drsingle_family321,460$1,400,0002026-06-30
931 NE 173rd Stsingle_family522,868$1,725,0002026-06-30
1263 NE 182nd Stsingle_family32880$525,0002026-06-26
261 NE 172nd Stsingle_family321,640$450,0002026-06-25
17020 NE 11th Avesingle_family321,414$927,0002026-06-24

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.

AddressTypeBedsBathsSqftAsking priceDays on market
88 NE 154th Stsingle_family753,315$1,499,000—
937 NE 171st Stsingle_family753,392$2,350,000—
1810 NE 161st Stsingle_family743,200$1,099,000—

10-year hold projection

IRR60.1%
Equity multiple9.08x
Total return (10yr)$2,939,285
YearProperty valueNOICash flowLoan balanceEquity
1$1,408,010$291,951$188,718$1,081,743$326,267
2$1,450,250$300,989$197,283$1,069,072$381,179
3$1,493,758$310,304$206,114$1,055,530$438,228
4$1,538,571$319,907$215,220$1,041,059$497,512
5$1,584,728$329,804$224,609$1,025,594$559,134
6$1,632,269$340,006$234,290$1,009,066$623,203
7$1,681,238$350,522$244,271$991,404$689,833
8$1,731,675$361,362$254,562$972,529$759,145
9$1,783,625$372,534$265,173$952,358$831,267
10$1,837,134$384,050$276,113$930,802$906,332
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.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.