1816 SW 23rd St
Miami, FL 33145 · single_family · For Sale · 109 days on market
Asking price$2,249,900
5 beds 5 baths 3,624 sqft
Suggested offer$2,064,846$185,054 above the est. market value of $2,064,846.
View on Realtor.com →Listed by Veronica Crego-Flores · Genstone Realty
Typesingle_family
Built2022
Price / sqft$621
Est. value (own analysis)$2,064,846
Rent estimate (own analysis)$7,995/mo
HOANone
1 / 85
Show every detail
Statusfor_sale
Listed date2026-05-17
Removed date—
MLSMiamiMLS #A12019662
Coordinates25.74893, -80.22436
Address1816 SW 23rd St
CityMiami
StateFL
Zip33145
Listing ID9616242595
Sourceus-real-estate-listings, cached 2026-08-31
ZIP market snapshot (33145)
Typical home value (ZHVI)$735,527
Typical rent (ZORI)$3,018/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 | $2,249,900 |
| Down payment (20.0%) | $449,980 |
| Loan amount | $1,799,920 |
| Closing costs (5.0%) | $112,495 |
| Total cash to close | $562,475 |
| Income | |
| Rent (comp-derived) | $7,995$95,940 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,355$88,265 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,562$42,748 |
| Insurance (placeholder 0.8% of price) | $1,500$17,999 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $400$4,797 |
| Total operating expenses | $5,462$65,544 |
| 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) | $400$4,797 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 5 | 3 | 3,174 | $7,995 | 2026-07-06 | — | |
| single_family | 5 | 6 | 4,496 | $22,500 | 2025-10-06 | — | |
| single_family | 5 | 2 | 1,898 | $5,700 | 2026-08-31 | — |
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 |
|---|---|---|---|---|---|---|
| 1712 SW 13th St | single_family | 5 | 3 | 2,514 | $822,000 | 2026-06-30 |
| 1721 SW 24th Ter | single_family | 5 | 4 | 1,951 | $975,000 | 2026-06-26 |
| 1511 SW 20th Ct | single_family | 5 | 2 | 2,020 | $1,150,000 | 2026-04-27 |
| 2606 SW 19th St | single_family | 5 | 5 | 2,999 | $2,250,000 | 2026-04-17 |
| 1401 SW 21st St | single_family | 5 | 3 | 2,479 | $1,265,000 | 2026-01-09 |
| 3000 SW 20th St | single_family | 5 | 4 | 2,636 | $2,250,000 | 2025-12-01 |
| 1242 SW 21st Ter | single_family | 5 | 3 | 1,438 | $820,000 | 2025-11-18 |
| 2021 SW 23rd St | single_family | 5 | 3 | 2,070 | $1,550,000 | 2025-09-05 |
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 |
|---|---|---|---|---|---|---|
| 2171 SW 21st St | single_family | 5 | 4 | 1,847 | $870,000 | — |
| 2239 SW 14th St | townhomes | 5 | 6 | 2,600 | $1,475,000 | — |
| 1791 SW 14th St | single_family | 5 | 3 | 1,903 | $1,160,000 | — |
| 2107 SW 31st Ave | single_family | 5 | 3 | 2,246 | $1,275,000 | — |
| 2153 SW 13th St | single_family | 5 | 3 | 2,864 | $1,490,000 | — |
| 2543 SW 15th St | single_family | 5 | 3 | 2,213 | $1,175,000 | — |
| 1520 SW 22nd Ave | multi_family | 5 | 4 | 2,484 | $1,475,000 | — |
| 1760 SW 16th Ter | single_family | 5 | 4 | 2,164 | $1,595,000 | — |
10-year hold projection
IRR-4.4%
Equity multiple0.26x
Total return (10yr)-$122,495
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,317,397 | $22,721 | -$120,878 | $1,780,405 | $536,992 |
| 2 | $2,386,919 | $23,730 | -$119,988 | $1,759,550 | $627,369 |
| 3 | $2,458,526 | $24,778 | -$119,063 | $1,737,262 | $721,264 |
| 4 | $2,532,282 | $25,865 | -$118,102 | $1,713,444 | $818,838 |
| 5 | $2,608,251 | $26,994 | -$117,102 | $1,687,991 | $920,260 |
| 6 | $2,686,498 | $28,166 | -$116,063 | $1,660,789 | $1,025,709 |
| 7 | $2,767,093 | $29,382 | -$114,983 | $1,631,720 | $1,135,373 |
| 8 | $2,850,106 | $30,643 | -$113,860 | $1,600,654 | $1,249,452 |
| 9 | $2,935,609 | $31,952 | -$112,694 | $1,567,456 | $1,368,154 |
| 10 | $3,023,677 | $33,310 | -$111,482 | $1,531,977 | $1,491,701 |
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.