503 NE 61st St
Miami, FL 33137 · townhomes · For Sale · 313 days on market
Asking price$1,017,555
3 beds 3 baths 2,345 sqft
Suggested offer$782,709$234,846 above the est. market value of $782,709.
View on Realtor.com →Listed by Ricky Kallabat · Keller Williams Capital Realty
Typetownhomes
Built2026
Price / sqft$434
Est. value (Zillow, adjusted)$782,709
Rent estimate (own analysis)$5,500/mo
HOA$690/mo
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Statusfor_sale
Listed date2025-10-24
Removed date—
MLSMiamiMLS #A11892972
Coordinates25.83273, -80.18605
Address503 NE 61st St
CityMiami
StateFL
Zip33137
Listing ID9593133465
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33137)
Typical home value (ZHVI)$682,165
Typical rent (ZORI)$3,560/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 | $1,017,555 |
| Down payment (20.0%) | $203,511 |
| Loan amount | $814,044 |
| Closing costs (5.0%) | $50,878 |
| Total cash to close | $254,389 |
| Income | |
| Rent (comp-derived) | $5,500$66,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,060$60,720 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,611$19,334 |
| Insurance (placeholder 0.8% of price) | $678$8,140 |
| HOA dues | $690$8,280 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $275$3,300 |
| Total operating expenses | $3,255$39,054 |
| 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) | $275$3,300 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 3 | 3 | 1,567 | $5,500 | 2026-08-19 | — | |
| townhomes | 3 | 4 | 2,236 | $12,500 | 2026-08-14 | — | |
| townhomes | 3 | 4 | 2,236 | $11,500 | 2026-08-13 | — | |
| townhomes | 3 | 3 | 1,548 | $5,000 | 2026-08-03 | — | |
| townhomes | 3 | 3 | 1,580 | $3,450 | 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 |
|---|---|---|---|---|---|---|
| 601 NE 27th St Unit 104 | townhomes | 3 | 3 | 1,870 | $1,410,000 | 2026-08-11 |
| 527 NE 61st St | townhomes | 3 | 3 | 2,345 | $1,020,000 | 2026-07-28 |
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 |
|---|---|---|---|---|---|---|
| 456 NE 29th St Unit 901 | condos | 3 | 4 | 2,304 | $2,300,000 | — |
| 2000 N Bayshore Dr Apt 702 | condos | 3 | 2 | 1,332 | $590,000 | — |
| 328 NE 57th St | single_family | 3 | 2 | 1,170 | $899,000 | — |
| 600 NE 27th St Ph 2 | condos | 3 | 5 | 2,572 | $2,550,000 | — |
| 700 NE 26th Ter Unit 2202 | condos | 3 | 4 | 2,141 | $2,740,000 | — |
| 46 NE 43rd St | single_family | 3 | 2 | 972 | $1,350,000 | — |
| 788 NE 23rd St Unit 2102 | condos | 3 | 5 | 2,743 | $2,950,000 | — |
| 601 NE 23rd St Apt 1103 | condos | 3 | 2 | 1,320 | $579,000 | — |
10-year hold projection
IRR-1.6%
Equity multiple0.73x
Total return (10yr)$64,963
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,048,082 | $21,666 | -$44,409 | $805,218 | $242,864 |
| 2 | $1,079,524 | $22,511 | -$43,646 | $795,786 | $283,738 |
| 3 | $1,111,910 | $23,387 | -$42,856 | $785,706 | $326,204 |
| 4 | $1,145,267 | $24,294 | -$42,035 | $774,934 | $370,333 |
| 5 | $1,179,625 | $25,233 | -$41,185 | $763,422 | $416,203 |
| 6 | $1,215,014 | $26,205 | -$40,304 | $751,119 | $463,894 |
| 7 | $1,251,464 | $27,212 | -$39,390 | $737,972 | $513,492 |
| 8 | $1,289,008 | $28,255 | -$38,443 | $723,922 | $565,086 |
| 9 | $1,327,678 | $29,335 | -$37,461 | $708,907 | $618,771 |
| 10 | $1,367,509 | $30,453 | -$36,444 | $692,861 | $674,647 |
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.