3223 NW 5th Ave Unit W607
Miami, FL 33127 · condos · For Sale · 2 days on market
Asking price$1,665,000
3 beds 2 baths 1,179 sqft
Suggested offer$611,760$1,053,240 above the est. market value of $611,760.
View on Realtor.com →Rental restricted
The listing says this cannot be rented out as modelled — treat the rent estimate and cash flow below as not applicable.
Listed by Giovanna M. Fernandez · BHHS EWM Realty
Typecondos
Built2029
Price / sqft$1412
Est. value (own analysis)$611,760
Rent estimate (own analysis)$4,900/mo
HOA$2,934/mo
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Statusfor_sale
Listed date2026-08-31
Removed date—
MLSMiamiMLS #A12080962
Coordinates25.80697, -80.20310
Address3223 NW 5th Ave Unit W607
CityMiami
StateFL
Zip33127
Listing ID9718262251
Sourceus-real-estate-listings, cached 2026-09-01
ZIP market snapshot (33127)
Typical home value (ZHVI)$528,160
Typical rent (ZORI)$2,975/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 | $1,665,000 |
| Down payment (20.0%) | $333,000 |
| Loan amount | $1,332,000 |
| Closing costs (5.0%) | $83,250 |
| Total cash to close | $416,250 |
| Income | |
| Rent (comp-derived) | $4,900$58,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $4,508$54,096 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $2,636$31,635 |
| Insurance (placeholder 0.8% of price) | $1,110$13,320 |
| HOA dues | $2,934$35,208 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $245$2,940 |
| Total operating expenses | $6,925$83,103 |
| 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) | $245$2,940 |
| 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 | 3 | 3 | 1,272 | $5,050 | 2026-08-12 | — | |
| condos | 3 | 3 | 1,311 | $5,295 | 2026-08-12 | — | |
| apartment | 3 | 2 | 1,150 | $3,100 | 2026-08-10 | — | |
| apartment | 3 | 2 | 1,000 | $2,750 | 2026-08-06 | — | |
| apartment | 3 | 2 | 1,022 | $2,900 | 2026-07-14 | — | |
| apartment | 3 | 2 | 1,551 | $2,450 | 2026-07-13 | — | |
| apartment | 3 | 2 | 1,200 | $3,300 | 2026-06-01 | — | |
| apartment | 3 | 1 | 1,100 | $3,250 | 2026-05-19 | — | |
| apartment | 3 | 2 | 1,222 | $5,475 | 2026-08-22 | — | |
| condos | 3 | 2 | 1,515 | $4,750 | 2026-08-26 | — | |
| apartment | 3 | 2 | 1,552 | $7,096 | — | — | |
| apartment | 3 | 3 | 1,272 | $5,211 | — | — | |
| apartment | 3 | 2 | 1,281 | $5,188 | — | — | |
| apartment | 3 | 2 | 1,438 | $5,420 | — | — |
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 |
|---|---|---|---|---|---|---|
| 2700 NW 2nd Ave Unit 502 | condos | 1 | 1 | 638 | $705,000 | 2026-08-27 |
| 450 NW 20th St Unit 1 | condo_townhome_rowhome_coop | 4 | 2 | 1,347 | $250,000 | 2026-02-26 |
| 410 NW 20th St Unit 5 | condos | 3 | 3 | 1,190 | $383,000 | 2026-01-16 |
| 136 NW 26th St Unit 503 | condos | 1 | 1 | 440 | $315,000 | 2025-09-16 |
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 |
|---|---|---|---|---|---|---|
| 1130 NW 57th St | single_family | 3 | 2 | 1,131 | $469,900 | — |
| single_family | 3 | 2 | 1,269 | $549,950 | — | |
| 5510 NW 1st Ave | single_family | 3 | 3 | 1,178 | $870,000 | — |
| 1191 NW 49th St | single_family | 3 | 2 | 955 | $470,000 | — |
| 1137 NW 55th St | single_family | 3 | 2 | 1,063 | $550,000 | — |
| 1121 NW 57th St | single_family | 3 | 2 | 1,309 | $616,000 | — |
| 736 NW 41st St | single_family | 3 | 2 | 1,277 | $569,000 | — |
| 583 NW 47th Ter | single_family | 3 | 2 | 1,182 | $747,500 | — |
10-year hold projection
IRR-11.4%
Equity multiple-0.96x
Total return (10yr)-$600,090
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $1,714,950 | -$29,007 | -$134,664 | $1,317,558 | $397,392 |
| 2 | $1,766,399 | -$29,462 | -$135,193 | $1,302,125 | $464,274 |
| 3 | $1,819,390 | -$29,920 | -$135,726 | $1,285,631 | $533,759 |
| 4 | $1,873,972 | -$30,381 | -$136,264 | $1,268,005 | $605,967 |
| 5 | $1,930,191 | -$30,845 | -$136,807 | $1,249,169 | $681,023 |
| 6 | $1,988,097 | -$31,311 | -$137,355 | $1,229,039 | $759,058 |
| 7 | $2,047,740 | -$31,781 | -$137,908 | $1,207,527 | $840,213 |
| 8 | $2,109,172 | -$32,252 | -$138,464 | $1,184,537 | $924,635 |
| 9 | $2,172,447 | -$32,726 | -$139,025 | $1,159,969 | $1,012,479 |
| 10 | $2,237,621 | -$33,201 | -$139,590 | $1,133,713 | $1,103,907 |
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.