851 NE 1st Ave Unit 1705
Miami, FL 33132 · condos · For Sale · 90 days on market
Asking price$795,000
1 beds 2 baths 1,386 sqft
Suggested offer$674,483$120,517 above the est. market value of $674,483.
View on Realtor.com →Listed by Michael Light · Douglas Elliman - Coconut Grove
Typecondos
Built2019
Price / sqft$574
Est. value (own analysis)$674,483
Rent estimate (own analysis)$4,403/mo
HOA$2,213/mo
Wind10/10Extreme$Heat10/10ExtremeFlood4/10moderate$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-06-04
Removed date—
MLSMiamiMLS #A12029625
Coordinates25.78289, -80.19191
Address851 NE 1st Ave Unit 1705
CityMiami
StateFL
Zip33132
Listing ID9613342166
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 | $795,000 |
| Down payment (20.0%) | $159,000 |
| Loan amount | $636,000 |
| Closing costs (5.0%) | $39,750 |
| Total cash to close | $198,750 |
| Income | |
| Rent (comp-derived) | $4,403$52,830 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,050$48,604 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,259$15,105 |
| Insurance (est. scaled by flood & wind risk) | $848$10,176 |
| HOA dues | $2,213$26,556 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $220$2,642 |
| Total operating expenses | $4,540$54,479 |
| 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) | $220$2,642 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 1 | 2 | 948 | $3,700 | 2026-08-21 | — | |
| condos | 1 | 2 | 938 | $4,900 | 2026-08-21 | — | |
| condos | 1 | 2 | 912 | $4,600 | 2026-08-19 | — | |
| condos | 1 | 2 | 943 | $4,000 | 2026-08-19 | — | |
| condos | 1 | 2 | 978 | $2,800 | 2026-08-18 | — | |
| condos | 1 | 1 | 903 | $2,550 | 2026-08-18 | — | |
| condos | 1 | 2 | 979 | $4,900 | 2026-08-17 | — | |
| condos | 1 | 1 | 1,048 | $3,000 | 2026-08-17 | — | |
| condos | 1 | 2 | 1,031 | $4,500 | 2026-08-17 | — | |
| condos | 1 | 2 | 1,091 | $3,300 | 2026-08-11 | — | |
| condos | 1 | 1 | 1,087 | $1,500 | 2026-08-10 | — | |
| condos | 1 | 2 | 912 | $4,600 | 2026-08-10 | — | |
| condos | 1 | 1 | 1,000 | $2,700 | 2026-08-06 | — | |
| condos | 1 | 2 | 1,066 | $3,199 | 2026-07-27 | — | |
| condos | 1 | 2 | 938 | $4,600 | 2026-07-25 | — | |
| condos | 1 | 2 | 1,173 | $4,800 | 2026-07-23 | — | |
| condos | 1 | 2 | 937 | $6,000 | 2026-07-23 | — | |
| condos | 1 | 1 | 1,048 | $2,800 | 2026-07-22 | — | |
| condos | 1 | 1 | 1,048 | $3,200 | 2026-07-20 | — | |
| condos | 1 | 2 | 912 | $4,390 | 2026-07-16 | — | |
| condos | 1 | 1 | 1,203 | $4,500 | 2026-07-13 | — | |
| condos | 1 | 2 | 978 | $2,800 | 2026-07-11 | — | |
| condos | 1 | 2 | 989 | $2,950 | 2026-07-09 | — | |
| condos | 1 | 2 | 938 | $4,900 | 2026-07-09 | — | |
| condos | 1 | 2 | 979 | $3,950 | 2026-07-03 | — | |
| condos | 1 | 2 | 978 | $2,900 | 2026-07-03 | — | |
| condos | 1 | 2 | 997 | $3,300 | 2026-07-02 | — | |
| condos | 1 | 2 | 1,185 | $5,150 | 2026-07-01 | — | |
| apartment | 1 | 2 | 1,018 | $5,500 | 2026-06-23 | — | |
| apartment | 1 | 2 | 978 | $2,750 | 2026-06-22 | — | |
| condos | 1 | 2 | 1,048 | $3,200 | 2026-06-22 | — | |
| condos | 1 | 2 | 1,048 | $3,300 | 2026-06-18 | — | |
| apartment | 1 | 2 | 1,359 | $6,500 | 2026-06-17 | — | |
| condos | 1 | 2 | 1,675 | $7,000 | 2026-06-10 | — | |
| condos | 1 | 2 | 1,140 | $2,950 | 2026-06-08 | — | |
| condos | 1 | 2 | 1,044 | $2,800 | 2026-06-02 | — | |
| condos | 1 | 2 | 997 | $3,499 | 2026-05-28 | — | |
| condos | 1 | 2 | 997 | $3,500 | 2026-05-15 | — | |
| condos | 1 | 2 | 1,094 | $4,000 | 2026-05-14 | — | |
| condos | 1 | 2 | 938 | $5,100 | 2026-05-13 | — | |
| condos | 1 | 2 | 1,042 | $4,400 | 2026-05-07 | — | |
| condos | 1 | 2 | 1,018 | $4,700 | 2026-05-05 | — | |
| condos | 1 | 2 | 1,066 | $3,300 | 2026-05-01 | — | |
| condos | 1 | 2 | 1,254 | $5,550 | 2026-08-04 | — | |
| condos | 1 | 2 | 978 | $2,900 | 2026-07-31 | — | |
| condos | 1 | 2 | 989 | $3,200 | 2026-07-31 | — | |
| condos | 1 | 2 | 1,094 | $3,900 | 2026-08-24 | — | |
| condos | 1 | 2 | 938 | $4,500 | 2026-08-22 | — | |
| condos | 1 | 2 | 937 | $6,000 | 2026-08-24 | — | |
| condos | 1 | 2 | 1,060 | $5,700 | 2026-08-23 | — | |
| condos | 1 | 2 | 978 | $2,800 | 2026-04-10 | — | |
| condos | 1 | 2 | 1,006 | $2,950 | 2026-04-20 | — | |
| condos | 1 | 2 | 978 | $3,300 | 2026-02-11 | — | |
| condos | 1 | 2 | 997 | $3,600 | 2026-02-12 | — | |
| condos | 1 | 2 | 1,153 | $3,400 | 2026-02-26 | — | |
| condos | 1 | 2 | 1,018 | $5,300 | 2026-03-17 | — | |
| apartment | 1 | 1 | 920 | $4,880 | 2022-08-18 | — | |
| apartment | 1 | 1 | 957 | $3,700 | — | — | |
| apartment | 1 | 1 | 1,005 | $4,265 | — | — | |
| apartment | 1 | 1 | 1,013 | $4,665 | — | — | |
| condos | 1 | 2 | 979 | $4,200 | 2026-08-27 | — | |
| condos | 1 | 2 | 912 | $4,800 | 2026-08-25 | — | |
| condos | 1 | 2 | 1,318 | $5,200 | 2026-08-23 | — | |
| condos | 1 | 2 | 1,216 | $6,000 | 2026-08-25 | — | |
| condos | 1 | 2 | 938 | $4,900 | — | — | |
| apartment | 1 | 2 | 950 | $5,499 | — | — | |
| condos | 1 | 2 | 979 | $4,900 | — | — | |
| apartment | 1 | 2 | 1,185 | $4,995 | — | — | |
| apartment | 1 | 1 | 903 | $4,285 | — | — | |
| apartment | 1 | 1 | 903 | $4,390 | — | — | |
| apartment | 1 | 1 | 964 | $4,450 | — | — | |
| apartment | 1 | 1 | 903 | $4,450 | — | — | |
| apartment | 1 | 1 | 903 | $4,405 | — | — | |
| apartment | 1 | 1 | 903 | $4,590 | — | — | |
| apartment | 1 | 1 | 1,010 | $4,625 | — | — | |
| apartment | 1 | 1 | 977 | $4,540 | — | — | |
| apartment | 1 | 1 | 1,031 | $5,190 | — | — | |
| apartment | 1 | 1 | 1,031 | $5,395 | — | — | |
| condos | 1 | 2 | 1,216 | $5,950 | 2026-08-28 | — | |
| apartment | 1 | 1 | 929 | $4,500 | — | — | |
| condos | 1 | 2 | 1,190 | $5,500 | 2026-08-30 | — | |
| condos | 1 | 2 | 1,138 | $3,200 | 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 |
|---|---|---|---|---|---|---|
| 851 NE 1st Ave Unit 3800 | condos | 1 | 2 | 1,018 | $540,000 | 2026-08-24 |
| 1800 N Bayshore Dr Apt 1908 | condos | 1 | 1 | 839 | $355,000 | 2026-08-21 |
| 1800 N Bayshore Dr Apt 1208 | condos | 1 | 1 | 839 | $350,000 | 2026-08-20 |
| 888 Biscayne Blvd Apt 3506 | condos | 1 | 2 | 948 | $585,000 | 2026-08-20 |
| 488 NE 18th St Unit 4005 | condos | 1 | 2 | 743 | $535,000 | 2026-08-18 |
| 1800 N Bayshore Dr Apt 4106 | condos | 1 | 1 | 822 | $377,000 | 2026-08-18 |
| 900 Biscayne Blvd Apt 2907 | condos | 1 | 2 | 938 | $675,000 | 2026-08-18 |
| 227 NE 2nd St Apt 1909 | condos | 1 | 1 | 549 | $395,000 | 2026-08-06 |
| 488 NE 18th St Unit 2802 | condos | 1 | 2 | 766 | $485,000 | 2026-08-01 |
| 1750 N Bayshore Dr Apt 4506 | condos | 1 | 1 | 821 | $308,000 | 2026-07-27 |
| 1750 N Bayshore Dr Apt 5105 | condos | 1 | 1 | 825 | $320,000 | 2026-07-15 |
| 1600 NE 1st Ave Apt 3012 | condos | 1 | 2 | 850 | $400,000 | 2026-07-09 |
| 900 Biscayne Blvd Apt 2910 | condos | 1 | 2 | 1,031 | $590,000 | 2026-07-09 |
| 1900 N Bayshore Dr Apt 506 | condos | 1 | 1 | 816 | $417,000 | 2026-07-08 |
| 253 NE 2nd St Apt 1107 | condos | 1 | 1 | 802 | $392,500 | 2026-07-02 |
| 133 NE 2nd Ave Apt 611 | condos | 1 | 1 | 651 | $248,000 | 2026-06-24 |
| 398 NE 5th St Apt 2403 | condos | 1 | 1 | 490 | $415,000 | 2026-06-24 |
| 275 NE 18th St Apt 1806 | condos | 1 | 1 | 749 | $355,000 | 2026-06-23 |
| 1750 N Bayshore Dr Apt 2109 | condos | 1 | 1 | 825 | $295,000 | 2026-06-22 |
| 900 Biscayne Blvd Apt 3110 | condos | 1 | 2 | 1,031 | $610,000 | 2026-06-22 |
| 601 NE 1st Ave Unit 3704 | condos | 1 | 1 | — | $460,000 | 2026-06-18 |
| 275 NE 18th St Apt 901 | condos | 1 | 1 | 734 | $315,000 | 2026-06-16 |
| 133 NE 2nd Ave Apt 2015 | condos | 1 | 1 | 651 | $290,000 | 2026-06-16 |
| 900 Biscayne Blvd Apt 5104 | condos | 1 | 2 | 938 | $670,000 | 2026-06-12 |
| 133 NE 2nd Ave Apt 2515 | condos | 1 | 1 | 651 | $275,800 | 2026-06-09 |
| 1040 Biscayne Blvd Apt 4208 | condos | 1 | 2 | 1,029 | $530,000 | 2026-06-09 |
| 1900 N Bayshore Dr Apt 505 | condos | 1 | 1 | 811 | $412,000 | 2026-06-08 |
| 1600 NE 1st Ave Apt 1011 | condos | 1 | 2 | — | $400,000 | 2026-06-04 |
| 851 NE 1st Ave Unit 2102 | condos | 1 | 2 | 937 | $525,000 | 2026-06-02 |
| 133 NE 2nd Ave Apt 1905 | condos | 1 | 1 | 651 | $290,000 | 2026-06-01 |
| 159 NE 6th St Unit 2607 | condos | 1 | 1 | 505 | $452,500 | 2026-05-29 |
| 244 Biscayne Blvd Apt 2306 | condos | 1 | 1 | 806 | $365,000 | 2026-05-22 |
| 244 Biscayne Blvd Apt 3104 | condos | 1 | 1 | 806 | $390,000 | 2026-05-22 |
| 1800 N Bayshore Dr Apt 3206 | condos | 1 | 1 | 822 | $365,000 | 2026-05-19 |
| 1750 N Bayshore Dr Apt 2804 | condos | 1 | 1 | 791 | $320,000 | 2026-05-18 |
| 133 NE 2nd Ave Apt 2611 | condos | 1 | 1 | 651 | $289,900 | 2026-05-18 |
| 601 NE 1st Ave Unit 4407 | condos | 1 | 1 | 550 | $420,000 | 2026-05-15 |
| 133 NE 2nd Ave Apt 1410 | condos | 1 | 1 | 620 | $280,000 | 2026-05-15 |
| 888 Biscayne Blvd Apt 4011 | condos | 1 | 2 | 845 | $540,000 | 2026-05-13 |
| 488 NE 18th St Unit 4605 | condos | 1 | 2 | 743 | $510,000 | 2026-05-05 |
| 1900 N Bayshore Dr Apt 3616 | condos | 1 | 2 | 867 | $417,500 | 2026-05-01 |
| 1040 Biscayne Blvd Apt 3508 | condos | 1 | 2 | 808 | $385,000 | 2026-04-30 |
| 398 NE 5th St Apt 3008 | condos | 1 | 1 | 430 | $450,000 | 2026-04-23 |
| 398 NE 5th St Apt 4507 | condos | 1 | 1 | 442 | $520,000 | 2026-04-23 |
| 1717 N Bayshore Dr Unit A1439 | condos | 1 | 2 | 1,066 | $410,000 | 2026-04-21 |
| 398 NE 5th St Apt 1905 | condos | 1 | 1 | 442 | $420,000 | 2026-04-20 |
| 1900 N Bayshore Dr Apt 1708 | condos | 1 | 1 | 837 | $375,000 | 2026-04-16 |
| 227 NE 2nd St Apt 2601 | condos | 1 | 1 | 455 | $385,000 | 2026-04-15 |
| 1717 N Bayshore Dr Unit A2637 | condos | 1 | 2 | 1,048 | $555,000 | 2026-04-15 |
| 1750 N Bayshore Dr Apt 3612 | condos | 1 | 1 | 791 | $322,000 | 2026-04-14 |
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 |
|---|---|---|---|---|---|---|
| 1750 N Bayshore Dr Apt 3403 | condos | 1 | 1 | 791 | $362,000 | — |
| 851 NE 1st Ave Unit 2110 | condos | 1 | 2 | 1,185 | $730,000 | — |
| 121 NE 5th St Apt 2908 | condos | 1 | 1 | 606 | $525,000 | — |
| 1600 NE 1st Ave Apt 3614 | condos | 1 | 2 | 857 | $469,000 | — |
| 900 Biscayne Blvd Apt 3803 | condos | 1 | 2 | 912 | $750,000 | — |
| 398 NE 5th St Apt 1407 | condos | 1 | 1 | 442 | $795,000 | — |
| 159 NE 6th St Unit 3108 | condos | 1 | 1 | 832 | $510,000 | — |
| 1600 NE 1st Ave Apt 2405 | condos | 1 | 2 | 867 | $505,000 | — |
10-year hold projection
IRR-9.1%
Equity multiple-0.55x
Total return (10yr)-$205,113
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $818,850 | -$5,875 | -$57,562 | $629,104 | $189,746 |
| 2 | $843,416 | -$5,779 | -$57,532 | $621,735 | $221,680 |
| 3 | $868,718 | -$5,673 | -$57,493 | $613,860 | $254,858 |
| 4 | $894,780 | -$5,557 | -$57,447 | $605,444 | $289,336 |
| 5 | $921,623 | -$5,430 | -$57,391 | $596,450 | $325,173 |
| 6 | $949,272 | -$5,293 | -$57,326 | $586,838 | $362,433 |
| 7 | $977,750 | -$5,143 | -$57,252 | $576,566 | $401,183 |
| 8 | $1,007,082 | -$4,982 | -$57,167 | $565,589 | $441,493 |
| 9 | $1,037,295 | -$4,807 | -$57,071 | $553,859 | $483,436 |
| 10 | $1,068,414 | -$4,620 | -$56,964 | $541,322 | $527,091 |
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.