851 NE 1st Ave Ph 4811
Miami, FL 33132 · condos · For Sale · 303 days on market
Asking price$4,700,000
5 beds 6 baths 3,852 sqft
Suggested offer$2,241,517$2,458,483 above the est. market value of $2,241,517.
View on Realtor.com →Listed by Jose Correa Lima · Best Buy Best Sale Realty Inc.
Typecondos
Built2019
Price / sqft$1220
Est. value (own analysis)$2,241,517
Rent estimate (own analysis)$29,950/mo
HOA$6,797/mo
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Show every detail
Statusfor_sale
Listed date2025-11-03
Removed date—
MLSMiamiMLS #A11907124
Coordinates25.78289, -80.19191
Address851 NE 1st Ave Ph 4811
CityMiami
StateFL
Zip33132
Listing ID9686560953
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 | $4,700,000 |
| Down payment (20.0%) | $940,000 |
| Loan amount | $3,760,000 |
| Closing costs (5.0%) | $235,000 |
| Total cash to close | $1,175,000 |
| Income | |
| Rent (comp-derived) | $29,950$359,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $27,554$330,648 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $7,442$89,300 |
| Insurance (placeholder 0.8% of price) | $3,133$37,600 |
| HOA dues | $6,797$81,564 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,498$17,970 |
| Total operating expenses | $18,870$226,434 |
| 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) | $1,498$17,970 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 5 | 3 | 4,344 | $4,150 | 2026-08-13 | — | |
| condos | 5 | 6 | 3,575 | $39,500 | 2026-08-05 | — | |
| condos | 5 | 6 | 3,978 | $45,000 | 2026-06-29 | — | |
| condos | 5 | 7 | 3,608 | $18,000 | 2026-06-08 | — | |
| condos | 5 | 5 | 3,420 | $14,800 | 2026-07-30 | — | |
| condos | 5 | 6 | 3,004 | $12,550 | 2026-04-15 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-08-31 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-11 | — | |
| condos | 5 | 6 | 3,663 | $45,000 | 2026-04-10 | — | |
| condos | 5 | 7 | 4,770 | $49,000 | 2026-09-02 | — | |
| condos | 5 | 6 | 5,097 | $29,950 | 2026-03-12 | — |
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 |
|---|---|---|---|---|---|---|
| 398 NE 5th St Apt 4207 | condos | 0 | 1 | 442 | $540,000 | 2026-08-24 |
| 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 |
| 1000 Biscayne Blvd Unit 3902 | condos | 4 | 6 | 4,600 | $7,195,000 | 2026-08-19 |
| 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 |
| 1800 N Bayshore Dr Apt 1901 | condos | 3 | 3 | 2,189 | $1,420,000 | 2026-08-17 |
| 20 NE 11th St Apt 4807B | condos | 0 | 1 | — | $420,000 | 2026-08-17 |
| 253 NE 2nd St Apt 3105 | condos | 0 | 1 | 632 | $325,000 | 2026-08-17 |
| 488 NE 18th St Unit 5012 | condos | 3 | 4 | 2,365 | $2,575,000 | 2026-08-14 |
| 398 NE 5th St Apt 4518 | condos | 3 | 3 | 1,135 | $1,050,000 | 2026-08-14 |
| 1900 N Bayshore Dr Apt 2204 | condos | 2 | 2 | 1,289 | $644,000 | 2026-08-10 |
| 227 NE 2nd St Apt 1909 | condos | 1 | 1 | 549 | $395,000 | 2026-08-06 |
| 253 NE 2nd St Apt 903 | condos | 2 | 2 | 1,058 | $480,000 | 2026-08-05 |
| 851 NE 1st Ave Unit 1412 | condos | 3 | 4 | 2,165 | $1,290,000 | 2026-08-05 |
| 488 NE 18th St Unit 2802 | condos | 1 | 2 | 766 | $485,000 | 2026-08-01 |
| 900 Biscayne Blvd Apt 3502 | condos | 2 | 3 | 1,575 | $1,000,000 | 2026-07-28 |
| 1750 N Bayshore Dr Apt 4506 | condos | 1 | 1 | 821 | $308,000 | 2026-07-27 |
| 601 NE 1 St Unit 2716 | condos | 3 | 3 | 1,633 | $1,175,000 | 2026-07-24 |
| 1600 NE 1st Ave Apt 1916 | condos | 2 | 2 | 1,018 | $505,000 | 2026-07-23 |
| 1750 N Bayshore Dr Apt 5408 | condos | 0 | 1 | 503 | $255,000 | 2026-07-23 |
| 1040 Biscayne Blvd Apt 1406 | condos | 2 | 3 | 1,123 | $700,000 | 2026-07-23 |
| 20 NE 11th St Unit 2503B | condos | 0 | 1 | 336 | $450,000 | 2026-07-20 |
| 159 NE 6th St Unit 3105 | condos | 2 | 2 | 916 | $825,000 | 2026-07-17 |
| 253 NE 2nd St Apt 220 | condos | 0 | 1 | 560 | $255,000 | 2026-07-17 |
| 50 Biscayne Blvd Apt 3510 | condos | 3 | 2 | 1,789 | $1,025,000 | 2026-07-17 |
| 1040 Biscayne Blvd Apt 4607 | condos | 2 | 3 | 2,566 | $2,950,000 | 2026-07-16 |
| 253 NE 2nd St Apt 3902 | condos | 2 | 2 | 1,203 | $530,000 | 2026-07-15 |
| 1750 N Bayshore Dr Apt 5105 | condos | 1 | 1 | 825 | $320,000 | 2026-07-15 |
| 50 Biscayne Blvd Apt 711 | condos | 0 | 1 | 501 | $316,500 | 2026-07-15 |
| 488 NE 18th St Unit 2401 | condos | 2 | 3 | 1,178 | $650,000 | 2026-07-13 |
| 227 NE 2nd St Apt 2911 | condos | 0 | 1 | 446 | $335,000 | 2026-07-13 |
| 1717 N Bayshore Dr Unit A2451 | condos | 3 | 3 | 1,840 | $705,000 | 2026-07-10 |
| 227 NE 2nd St Apt 2412 | condos | 0 | 1 | 446 | $350,000 | 2026-07-10 |
| 1600 NE 1st Ave Apt 3302 | condos | 0 | 1 | — | $360,000 | 2026-07-10 |
| 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 |
| 227 NE 2nd St Apt 2306 | condos | 2 | 2 | 647 | $530,000 | 2026-07-06 |
| 253 NE 2nd St Apt 1107 | condos | 1 | 1 | 802 | $392,500 | 2026-07-02 |
| 851 NE 1st Ave Unit 3905 | condos | 2 | 2 | 1,254 | $645,000 | 2026-06-30 |
| 253 NE 2nd St Apt 2902 | condos | 2 | 2 | 1,203 | $600,000 | 2026-06-30 |
| 1100 Biscayne Blvd Unit 4502 | condos | 2 | 3 | 1,557 | $920,000 | 2026-06-30 |
| 900 Biscayne Blvd Apt 3709 | condos | 3 | 3 | 1,579 | $1,175,000 | 2026-06-30 |
| 1717 NE Bayshore Dr Unit A2736 | condos | 2 | 2 | 1,464 | $785,000 | 2026-06-26 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| 1040 Biscayne Blvd Apt 4403 | condos | 5 | 6 | 4,879 | $4,950,000 | — |
| 851 NE 1st Ave Ph 5411 | condos | 5 | 7 | 6,513 | $9,490,000 | — |
| 1000 Biscayne Blvd Unit 5501 | condos | 5 | 7 | 9,200 | $23,750,000 | — |
| condos | 5 | 6 | 3,004 | $3,800,000 | — | |
| 851 NE 1st Ave Ph 5401 | condos | 5 | 7 | 6,513 | $8,499,000 | — |
| 1000 Biscayne Blvd Unit 5801 | condos | 5 | 7 | 10,411 | $21,000,000 | — |
10-year hold projection
IRR-1.5%
Equity multiple0.76x
Total return (10yr)$328,960
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,841,000 | $104,214 | -$203,709 | $3,719,233 | $1,121,767 |
| 2 | $4,986,230 | $108,473 | -$199,900 | $3,675,667 | $1,310,563 |
| 3 | $5,135,817 | $112,887 | -$195,946 | $3,629,109 | $1,506,708 |
| 4 | $5,289,891 | $117,463 | -$191,842 | $3,579,354 | $1,710,537 |
| 5 | $5,448,588 | $122,206 | -$187,582 | $3,526,182 | $1,922,406 |
| 6 | $5,612,046 | $127,122 | -$183,162 | $3,469,359 | $2,142,687 |
| 7 | $5,780,407 | $132,217 | -$178,576 | $3,408,633 | $2,371,774 |
| 8 | $5,953,819 | $137,496 | -$173,817 | $3,343,738 | $2,610,081 |
| 9 | $6,132,434 | $142,967 | -$168,881 | $3,274,386 | $2,858,048 |
| 10 | $6,316,407 | $148,636 | -$163,760 | $3,200,272 | $3,116,135 |
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.