7940 West Dr Unit SR02
Miami, FL 33141 · condos · For Sale · 169 days on market
Asking price$12,965,000
4 beds 5 baths 4,818 sqft
Suggested offer$1,845,857$11,119,143 above the est. market value of $1,845,857.
View on Realtor.com →Listed by Goritza Draskovich · Fortune Christie's International Real Estate
Typecondos
Built2028
Price / sqft$2691
Est. value (own analysis)$1,845,857
Rent estimate (own analysis)$27,900/mo
HOA$8,432/mo
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Statusfor_sale
Listed date2026-03-17
Removed date—
MLSMiamiMLS #A11981082
Coordinates25.85351, -80.16048
Address7940 West Dr Unit SR02
CityMiami
StateFL
Zip33141
Listing ID9588687810
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33141)
Typical home value (ZHVI)$429,204
Typical rent (ZORI)$2,504/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 | $12,965,000 |
| Down payment (20.0%) | $2,593,000 |
| Loan amount | $10,372,000 |
| Closing costs (5.0%) | $648,250 |
| Total cash to close | $3,241,250 |
| Income | |
| Rent (comp-derived) | $27,900$334,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $25,668$308,016 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $20,528$246,335 |
| Insurance (placeholder 0.8% of price) | $8,643$103,720 |
| HOA dues | $8,432$101,184 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,395$16,740 |
| Total operating expenses | $38,998$467,979 |
| 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) | $1,395$16,740 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 4 | 5 | 3,812 | $40,000 | 2026-08-19 | — | |
| condos | 4 | 5 | 4,084 | $25,000 | 2026-08-18 | — | |
| condos | 4 | 5 | 3,860 | $29,000 | 2026-08-11 | — | |
| condos | 4 | 5 | 3,860 | $29,000 | 2026-08-07 | — | |
| condos | 4 | 6 | 4,210 | $30,000 | 2026-07-20 | — | |
| condos | 4 | 6 | 3,189 | $26,800 | 2026-07-16 | — | |
| apartment | 4 | 3 | 3,679 | $4,200 | 2026-07-14 | — | |
| condos | 4 | 6 | 3,536 | $34,000 | 2026-07-09 | — | |
| condos | 4 | 6 | 4,030 | $21,000 | 2026-07-08 | — | |
| condos | 4 | 6 | 4,600 | $40,000 | 2026-07-07 | — | |
| condos | 4 | 5 | 4,600 | $36,500 | 2026-06-18 | — | |
| condos | 4 | 6 | 3,601 | $45,000 | 2026-06-03 | — | |
| condos | 4 | 6 | 3,536 | $25,000 | 2026-05-18 | — | |
| condos | 4 | 4 | 4,270 | $17,250 | 2026-05-14 | — | |
| condos | 4 | 5 | 3,657 | $32,000 | 2026-05-07 | — | |
| apartment | 4 | 2 | 3,860 | $4,500 | 2026-05-06 | — | |
| apartment | 4 | 3 | 3,456 | $4,100 | 2026-08-01 | — | |
| condos | 4 | 5 | 3,312 | $22,000 | 2026-07-28 | — | |
| condos | 4 | 5 | 4,635 | $35,000 | 2026-08-24 | — | |
| condos | 4 | 6 | 5,730 | $30,000 | 2026-01-07 | — | |
| condos | 4 | 6 | 5,225 | $40,000 | 2026-03-04 | — | |
| condos | 4 | 5 | 4,084 | $20,000 | 2026-02-13 | — | |
| condos | 4 | 6 | 3,536 | $23,000 | 2026-03-26 | — | |
| condos | 4 | 6 | 3,788 | $29,000 | 2026-01-07 | — | |
| condos | 4 | 5 | 3,135 | $25,000 | 2026-03-04 | — | |
| condos | 4 | 5 | 3,415 | $20,000 | 2026-02-25 | — | |
| condos | 4 | 4 | 3,179 | $12,000 | 2026-03-17 | — | |
| apartment | 4 | 5 | 4,842 | $48,000 | — | — |
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 |
|---|---|---|---|---|---|---|
| 6770 Indian Creek Dr Apt 15L | condos | 1 | 2 | 910 | $422,500 | 2026-08-27 |
| 7930 East Dr Unit 1806 | condos | 2 | 3 | 1,575 | $1,020,000 | 2026-08-26 |
| 6770 Indian Creek Dr Apt 6R | condos | 1 | 2 | 910 | $215,000 | 2026-08-21 |
| 330 74th St Apt 15 | condos | 0 | 1 | 383 | $158,000 | 2026-08-20 |
| 6770 Indian Creek Dr Ph R | condos | 1 | 2 | 910 | $300,000 | 2026-08-19 |
| 900 Bay Dr Apt 527 | condos | 2 | 2 | 1,540 | $590,000 | 2026-08-18 |
| 6700 Indian Creek Dr Apt 604 | condos | 2 | 2 | 952 | $810,000 | 2026-08-18 |
| 7910 Harbor Island Dr Apt 504 | condos | 1 | 2 | 900 | $320,000 | 2026-08-14 |
| 1455 N Treasure Dr Apt 6D | condos | 0 | 1 | 531 | $152,000 | 2026-08-14 |
| 7900 Harbor Island Dr Apt 817 | condos | 2 | 2 | 1,251 | $512,000 | 2026-08-11 |
| 7910 Harbor Island Dr Apt 704 | condos | 1 | 2 | 900 | $340,000 | 2026-08-11 |
| 7545 E Treasure Dr Apt 5H | condos | 3 | 2 | 1,302 | $295,000 | 2026-08-10 |
| 7800 Collins Ave Apt 302 | condos | 1 | 1 | 720 | $330,000 | 2026-08-07 |
| 7929 West Dr Apt 1503 | condos | 3 | 3 | 1,771 | $800,000 | 2026-08-07 |
| 7832 Collins Ave Apt 403 | condos | 2 | 2 | 1,000 | $370,000 | 2026-08-07 |
| 7725 Carlyle Ave Apt 10 | condos | 0 | 1 | 399 | $155,000 | 2026-08-06 |
| 630 85th St Apt 102 | condos | 1 | 1 | 492 | $270,000 | 2026-08-05 |
| 6580 Indian Creek Dr Apt 207 | condos | 2 | 2 | 1,126 | $700,000 | 2026-08-04 |
| 6830 Indian Creek Dr Unit 5B | condos | 1 | 2 | 820 | $240,000 | 2026-08-03 |
| 7135 Collins Ave Apt 602 | condos | 1 | 2 | 1,010 | $350,000 | 2026-08-01 |
| 7712 Byron Ave Apt 4 | condos | 2 | 1 | 1,021 | $232,000 | 2026-07-31 |
| 7800 Carlyle Ave Apt 6C | condos | 1 | 2 | 643 | $215,000 | 2026-07-31 |
| 7118 Bonita Dr Apt 704 | condos | 1 | 2 | 865 | $215,000 | 2026-07-31 |
| 6301 Collins Ave Apt 1402 | condos | 2 | 2 | 1,400 | $1,385,000 | 2026-07-31 |
| 7601 E Treasure Dr Apt 1216 | condos | 2 | 2 | 1,030 | $510,000 | 2026-07-31 |
| 6799 Collins Ave Apt 203 | condos | 2 | 2 | 1,288 | $1,050,000 | 2026-07-31 |
| 6941 Bay Dr Apt B3 | condos | 1 | 1 | 700 | $210,000 | 2026-07-31 |
| 6365 Collins Ave Unit CAB8 | condos | 0 | 1 | 245 | $410,000 | 2026-07-29 |
| 6770 Indian Creek Dr Apt 6D | condos | 2 | 2 | 1,326 | $279,000 | 2026-07-28 |
| 7207 Bay Dr Unit 21 | condos | 1 | 1 | 752 | $270,000 | 2026-07-28 |
| 6801 Indian Creek Dr Apt 602 | condos | 1 | 2 | 905 | $245,000 | 2026-07-27 |
| 1289 Marseille Dr Unit 50 | condos | 2 | 2 | 990 | $200,000 | 2026-07-24 |
| 7545 E Treasure Dr Apt 9K | condos | 1 | 1 | 741 | $205,000 | 2026-07-21 |
| 7135 Collins Ave Apt 834 | condos | 1 | 2 | 912 | $480,000 | 2026-07-17 |
| 7901 Hispanola Ave Apt 902 | condos | 2 | 3 | 1,753 | $760,000 | 2026-07-17 |
| 6830 Indian Creek Dr Unit 7B | condos | 1 | 2 | 843 | $276,000 | 2026-07-16 |
| 7135 Collins Ave Apt 912 | condos | 1 | 2 | 1,010 | $375,000 | 2026-07-15 |
| 900 Bay Dr Apt 526 | condos | 2 | 2 | 1,540 | $710,000 | 2026-07-15 |
| 7135 Collins Ave Apt 712 | condos | 1 | 2 | 1,010 | $460,000 | 2026-07-13 |
| 7925 Carlyle Ave Apt 202 | condos | 1 | 2 | 609 | $175,000 | 2026-07-13 |
| 6515 Collins Ave Apt 905 | condos | 1 | 2 | 819 | $740,000 | 2026-07-10 |
| 6103 Aqua Ave Apt 504 | condos | 4 | 5 | 2,752 | $2,450,000 | 2026-07-09 |
| 1865 79th St Cswy Apt 14D | condos | 1 | 1 | 940 | $190,000 | 2026-07-08 |
| 6365 Collins Ave Apt 904 | condos | 1 | 2 | 808 | $710,000 | 2026-07-07 |
| 7928 East Dr Apt 708 | condos | 3 | 3 | 1,358 | $800,000 | 2026-07-03 |
| 6484 Indian Creek Dr Apt 310 | condos | 0 | 1 | — | $120,000 | 2026-07-03 |
| 7300 Wayne Ave Apt 405 | condos | 2 | 2 | 1,073 | $345,000 | 2026-07-02 |
| 6301 Collins Ave Apt 2008 | condos | 2 | 2 | 1,250 | $820,000 | 2026-07-02 |
| 200 S Shore Dr Apt 12 | condos | 2 | 2 | 1,563 | $355,000 | 2026-07-01 |
| 7135 Collins Ave Apt 733 | condos | 1 | 2 | 912 | $350,000 | 2026-06-29 |
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 |
|---|---|---|---|---|---|---|
| 7940 West Dr Unit 1501 | condos | 4 | 5 | 3,247 | $6,998,200 | — |
| 1141 N Biscayne Point Rd | single_family | 4 | 5 | 4,299 | $15,900,000 | — |
| 265 Fairway Dr | single_family | 4 | 4 | 2,509 | $3,189,000 | — |
| 7970 Hawthorne Ave | single_family | 4 | 3 | 2,496 | $2,670,000 | — |
| 6899 Collins Ave Unit 2708 | condos | 4 | 3 | 2,670 | $4,995,000 | — |
| 1324 Normandy Dr | single_family | 4 | 3 | 1,538 | $1,184,888 | — |
| 270 N Shore Dr | single_family | 4 | 4 | 3,164 | $3,980,000 | — |
| 1548 Biarritz Dr | single_family | 4 | 4 | 2,580 | $2,950,000 | — |
10-year hold projection
IRR-10.1%
Equity multiple-0.72x
Total return (10yr)-$3,894,932
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $13,353,950 | -$159,963 | -$976,542 | $10,259,544 | $3,094,406 |
| 2 | $13,754,569 | -$162,422 | -$979,420 | $10,139,366 | $3,615,202 |
| 3 | $14,167,206 | -$164,896 | -$982,323 | $10,010,936 | $4,156,270 |
| 4 | $14,592,222 | -$167,385 | -$985,251 | $9,873,685 | $4,718,536 |
| 5 | $15,029,988 | -$169,887 | -$988,204 | $9,727,010 | $5,302,978 |
| 6 | $15,480,888 | -$172,400 | -$991,179 | $9,570,262 | $5,910,626 |
| 7 | $15,945,315 | -$174,925 | -$994,177 | $9,402,750 | $6,542,564 |
| 8 | $16,423,674 | -$177,459 | -$997,197 | $9,223,736 | $7,199,939 |
| 9 | $16,916,384 | -$180,002 | -$1,000,237 | $9,032,427 | $7,883,957 |
| 10 | $17,423,876 | -$182,551 | -$1,003,296 | $8,827,982 | $8,595,894 |
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.