1224 S Venetian Way
Miami, FL 33139 · single_family · For Sale · 48 days on market
Asking price$45,000,000
6 beds 8 baths — sqft
Suggested offer$21,750,000$23,250,000 above the est. market value of $21,750,000.
View on Realtor.com →Listed by Julian Johnston · One Sotheby's International Realty
Typesingle_family
Built2026
Price / sqft—
Est. value (own analysis)$21,750,000
Rent estimate (own analysis)$87,500/mo
HOANone
1 / 12
Show every detail
Statusfor_sale
Listed date2026-07-16
Removed date—
MLSMiamiMLS #A12044843
Coordinates—
Address1224 S Venetian Way
CityMiami
StateFL
Zip33139
Listing ID9805406288
Sourceus-real-estate-listings, cached 2026-08-30
ZIP market snapshot (33139)
Typical home value (ZHVI)$471,015
Typical rent (ZORI)$2,928/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 | $45,000,000 |
| Down payment (20.0%) | $9,000,000 |
| Loan amount | $36,000,000 |
| Closing costs (5.0%) | $2,250,000 |
| Total cash to close | $11,250,000 |
| Income | |
| Rent (comp-derived) | $87,500$1,050,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $80,500$966,000 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $71,250$855,000 |
| Insurance (placeholder 0.8% of price) | $30,000$360,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $4,375$52,500 |
| Total operating expenses | $105,625$1,267,500 |
| 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) | $4,375$52,500 |
| 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 | 6 | 7 | 5,863 | $95,000 | 2026-08-27 | — | |
| single_family | 6 | 8 | 5,200 | $250,000 | 2025-12-26 | — | |
| single_family | 6 | 7 | 5,700 | $160,000 | 2026-05-27 | — | |
| single_family | 6 | 7 | 6,211 | $70,000 | 2026-06-16 | — | |
| single_family | 6 | 6 | 5,146 | $80,000 | 2026-02-23 | — | |
| single_family | 6 | 8 | 3,600 | $39,500 | 2026-08-17 | — |
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 |
|---|---|---|---|---|---|---|
| 1505 1511 Ne 13th Pl | single_family | 6 | 4 | — | $6,500,000 | 2026-07-28 |
| 625 E Dilido Dr | single_family | 6 | 6 | 4,967 | $33,000,000 | 2026-07-14 |
| 1045 N Venetian Dr | single_family | 6 | 8 | 6,347 | $18,200,000 | 2026-06-26 |
| 16 Palm Ave | single_family | 6 | 7 | 9,209 | $25,000,000 | 2026-06-05 |
| 310 W Dilido Dr | single_family | 6 | 6 | 5,506 | $21,750,000 | 2026-04-27 |
| 375 S Hibiscus Dr | single_family | 6 | 7 | 4,286 | $9,500,000 | 2026-04-16 |
| 66 S Hibiscus Dr | single_family | 6 | 5 | 5,645 | $12,250,000 | 2026-04-02 |
| 228 302 W Dilido Dr | single_family | 6 | 12 | — | $24,500,000 | 2026-03-19 |
| 111 Palm Ave | single_family | 6 | 6 | 9,767 | $42,000,000 | 2025-12-22 |
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 |
|---|---|---|---|---|---|---|
| 1300 S Venetian Way | single_family | 6 | 7 | 4,343 | $14,750,000 | — |
| 1438 Meridian Ave | multi_family | 6 | 6 | 4,644 | $2,400,000 | — |
| 375 N Hibiscus Dr | single_family | 6 | 8 | 7,256 | $42,000,000 | — |
| 912 Euclid Ave | multi_family | 6 | 4 | 2,558 | $2,200,000 | — |
| 176 S Hibiscus Dr | single_family | 6 | 7 | 6,211 | $18,499,000 | — |
| 327 E Rivo Alto Dr | single_family | 6 | 7 | 5,479 | $22,500,000 | — |
| 271 N Hibiscus Dr | single_family | 6 | 8 | 9,131 | $24,950,000 | — |
| 441 Collins /7/10/12a/19 Ave Unit 2/5 | condos | 6 | 6 | 420 | $1,794,000 | — |
10-year hold projection
IRR-8.7%
Equity multiple-0.47x
Total return (10yr)-$10,640,500
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $46,350,000 | -$301,500 | -$3,130,148 | $35,609,680 | $10,740,320 |
| 2 | $47,740,500 | -$304,208 | -$3,134,168 | $35,192,556 | $12,547,944 |
| 3 | $49,172,715 | -$306,838 | -$3,138,144 | $34,746,789 | $14,425,926 |
| 4 | $50,647,896 | -$309,385 | -$3,142,070 | $34,270,409 | $16,377,487 |
| 5 | $52,167,333 | -$311,841 | -$3,145,940 | $33,761,317 | $18,406,017 |
| 6 | $53,732,353 | -$314,201 | -$3,149,748 | $33,217,264 | $20,515,090 |
| 7 | $55,344,324 | -$316,457 | -$3,153,489 | $32,635,850 | $22,708,473 |
| 8 | $57,004,654 | -$318,601 | -$3,157,155 | $32,014,511 | $24,990,143 |
| 9 | $58,714,793 | -$320,626 | -$3,160,740 | $31,350,503 | $27,364,290 |
| 10 | $60,476,237 | -$322,523 | -$3,164,237 | $30,640,897 | $29,835,340 |
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.