229 SW 9th St Unit 404
Miami, FL 33130 · condos · For Sale · 11 days on market
Asking price$429,999
0 beds 1 baths 466 sqft
Suggested offer$340,580$89,419 above the est. market value of $340,580.
View on Realtor.com →Listed by Ander Egurrola · The Source Commercial Realty LLC
Typecondos
Built2023
Price / sqft$923
Est. value (own analysis)$340,580
Rent estimate (own analysis)$2,444/mo
HOA$765/mo
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Statusfor_sale
Listed date2026-08-22
Removed date—
MLSMiamiMLS #A12075940
Coordinates25.76552, -80.19801
Address229 SW 9th St Unit 404
CityMiami
StateFL
Zip33130
Listing ID9971778005
Sourceus-real-estate-listings, cached 2026-08-29
ZIP market snapshot (33130)
Typical home value (ZHVI)$515,336
Typical rent (ZORI)$3,262/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 | $429,999 |
| Down payment (20.0%) | $86,000 |
| Loan amount | $343,999 |
| Closing costs (5.0%) | $21,500 |
| Total cash to close | $107,500 |
| Income | |
| Rent (comp-derived) | $2,444$29,322 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,248$26,976 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $681$8,170 |
| Insurance (placeholder 0.8% of price) | $287$3,440 |
| HOA dues | $765$9,180 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $122$1,466 |
| Total operating expenses | $1,855$22,256 |
| 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) | $122$1,466 |
| 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 |
|---|---|---|---|---|---|---|---|
| apartment | 0 | 1 | 494 | $2,921 | 2026-03-30 | — | |
| apartment | 0 | 1 | 522 | $2,271 | 2024-06-11 | — | |
| apartment | 0 | 1 | 458 | $2,550 | 2026-08-19 | — | |
| apartment | 0 | 1 | 511 | $2,783 | 2026-02-05 | — | |
| apartment | 0 | 1 | 546 | $2,201 | 2025-05-02 | — | |
| apartment | 0 | 1 | 482 | $2,689 | 2024-04-12 | — | |
| apartment | 0 | 1 | 539 | $2,319 | 2024-06-11 | — | |
| apartment | 0 | 1 | 400 | $1,350 | 2026-08-11 | — | |
| condos | 0 | 1 | 530 | $2,500 | 2026-08-09 | — | |
| apartment | 0 | 1 | 450 | $1,400 | 2026-08-06 | — | |
| apartment | 0 | 1 | 450 | $1,400 | 2026-08-05 | — | |
| condos | 0 | 1 | 531 | $2,800 | 2026-07-26 | — | |
| condos | 0 | 1 | 580 | $2,400 | 2026-07-21 | — | |
| condos | 0 | 1 | 531 | $2,600 | 2026-07-17 | — | |
| condos | 0 | 1 | 530 | $2,350 | 2026-07-14 | — | |
| apartment | 0 | 1 | 400 | $1,200 | 2026-01-31 | — | |
| condos | 0 | 1 | 580 | $2,300 | 2026-06-23 | — | |
| condos | 0 | 1 | 580 | $2,350 | 2026-06-17 | — | |
| apartment | 0 | 1 | 350 | $1,527 | 2026-03-19 | — | |
| condos | 0 | 1 | 431 | $2,300 | 2026-08-04 | — | |
| condos | 0 | 1 | 405 | $1,700 | 2026-08-04 | — | |
| condos | 0 | 1 | 431 | $2,190 | 2026-08-03 | — | |
| condos | 0 | 1 | 431 | $2,190 | 2026-08-02 | — | |
| apartment | 0 | 1 | 425 | $2,085 | 2024-04-21 | — | |
| apartment | 0 | 1 | 500 | $2,000 | 2024-03-05 | — | |
| condos | 0 | 1 | 530 | $2,675 | 2026-04-07 | — | |
| apartment | 0 | 1 | 332 | $1,600 | — | — | |
| condos | 0 | 1 | 606 | $2,150 | — | — | |
| apartment | 0 | 1 | 572 | $2,390 | — | — | |
| apartment | 0 | 1 | 606 | $2,440 | — | — | |
| apartment | 0 | 1 | 546 | $2,701 | — | — | |
| apartment | 0 | 1 | 546 | $2,751 | — | — | |
| apartment | 0 | 1 | 572 | $2,940 | — | — | |
| apartment | 0 | 1 | 572 | $2,940 | — | — | |
| apartment | 0 | 1 | 332 | $1,600 | — | — | |
| apartment | 0 | 1 | 606 | $2,665 | — | — | |
| apartment | 0 | 1 | 606 | $2,665 | — | — | |
| apartment | 0 | 1 | 572 | $2,740 | — | — | |
| apartment | 0 | 1 | 606 | $2,515 | — | — | |
| apartment | 0 | 1 | 540 | $2,208 | — | — | |
| apartment | 0 | 1 | 494 | $3,597 | — | — | |
| apartment | 0 | 1 | 531 | $2,398 | — | — | |
| apartment | 0 | 1 | 540 | $2,228 | — | — | |
| apartment | 0 | 1 | 522 | $2,196 | — | — | |
| apartment | 0 | 1 | 540 | $2,208 | — | — | |
| apartment | 0 | 1 | 522 | $2,116 | — | — | |
| apartment | 0 | 1 | 539 | $2,659 | — | — | |
| condos | 0 | 1 | 531 | $2,750 | 2026-08-26 | — | |
| apartment | 0 | 1 | 531 | $2,902 | — | — | |
| apartment | 0 | 1 | 540 | $2,198 | — | — | |
| apartment | 0 | 1 | 546 | $2,351 | — | — | |
| apartment | 0 | 1 | 539 | $2,729 | — | — | |
| apartment | 0 | 1 | 531 | $2,433 | — | — | |
| apartment | 0 | 1 | 511 | $2,783 | — | — | |
| apartment | 0 | 1 | 587 | $3,016 | — | — | |
| apartment | 0 | 1 | 540 | $2,337 | — | — | |
| apartment | 0 | 1 | 522 | $2,447 | — | — | |
| apartment | 0 | 1 | 539 | $2,739 | — | — | |
| apartment | 0 | 1 | 458 | $2,545 | — | — | |
| apartment | 0 | 1 | 458 | $2,545 | — | — | |
| apartment | 0 | 1 | 540 | $2,420 | — | — | |
| apartment | 0 | 1 | 458 | $2,545 | — | — | |
| apartment | 0 | 1 | 587 | $3,016 | — | — | |
| apartment | 0 | 1 | 494 | $2,996 | — | — | |
| apartment | 0 | 1 | 494 | $2,971 | — | — | |
| apartment | 0 | 1 | 494 | $3,196 | — | — | |
| apartment | 0 | 1 | 587 | $3,246 | — | — | |
| apartment | 0 | 1 | 587 | $3,216 | — | — |
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 |
|---|---|---|---|---|---|---|
| 229 SW 9th St Unit 504 | condos | 0 | 1 | 466 | $430,000 | 2026-07-21 |
| 690 SW 1st Ct Apt 3110 | condos | 0 | 2 | 1,255 | $540,000 | 2026-05-13 |
| 801 S Miami Ave Unit 808 | condos | 0 | 1 | 626 | $560,000 | 2026-01-15 |
| 60 SW 13th St Apt 2019 | condos | 0 | 1 | 431 | $315,000 | 2026-01-06 |
| 229 SW 9th St Unit 218 | condos | 0 | 1 | 433 | $475,000 | 2025-12-16 |
| 690 SW 1st Ct Apt 1723 | condos | 0 | 1 | 638 | $315,000 | 2025-09-29 |
| 690 SW 1st Ct Apt 1123 | condos | 0 | 1 | 638 | $300,000 | 2025-09-22 |
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 |
|---|---|---|---|---|---|---|
| 690 SW 1st Ct Apt 3115 | condos | 0 | 2 | 1,255 | $580,000 | — |
| 185 SW 7th St Apt 4100 | condos | 0 | 1 | 580 | $375,000 | — |
| 801 S Miami Ave Unit 309 | condos | 0 | 1 | 627 | $575,000 | — |
| 801 S Miami Ave Unit 610 | condos | 0 | 1 | 626 | $620,000 | — |
| 229 SW 9th St Unit 507 | condos | 0 | 1 | 418 | $475,000 | — |
| 1100 S Miami Ave Apt 3305 | condos | 0 | 1 | 531 | $357,000 | — |
| 185 SW 7th St Apt 3100 | condos | 0 | 1 | 580 | $335,000 | — |
| 152 SW 9th St Unit 1125 | condos | 0 | 1 | 371 | $420,900 | — |
10-year hold projection
IRR-4.4%
Equity multiple0.27x
Total return (10yr)-$22,699
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $442,899 | $4,720 | -$23,273 | $340,270 | $102,629 |
| 2 | $456,186 | $4,973 | -$23,057 | $336,284 | $119,902 |
| 3 | $469,872 | $5,236 | -$22,832 | $332,024 | $137,847 |
| 4 | $483,968 | $5,510 | -$22,596 | $327,472 | $156,496 |
| 5 | $498,487 | $5,795 | -$22,350 | $322,607 | $175,879 |
| 6 | $513,441 | $6,092 | -$22,094 | $317,409 | $196,033 |
| 7 | $528,845 | $6,401 | -$21,827 | $311,853 | $216,991 |
| 8 | $544,710 | $6,722 | -$21,548 | $305,916 | $238,794 |
| 9 | $561,051 | $7,056 | -$21,258 | $299,571 | $261,480 |
| 10 | $577,883 | $7,403 | -$20,955 | $292,790 | $285,092 |
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.