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$219,000

For Sale - Active
1020 SW 7th St Apt 9, Miami, FL 33130
2 Beds
1 Bath
510 Square Feet
0.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a
Checked: 23 hours ago
Updated: Aug 28, 2025 at 11:39PM

Investment Summary


Monthly Cash Flow
-$206
Cap Rate
5.0%
Cash-on-Cash Return
-4.9%
Debt Coverage Ratio
0.82
Internal Rate of Return (5 years)
-0.8%

Property Description


0.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a

Opportunity for investors – Apartment for rent in a strategic area of Miami Located in the heart of Little Havana, just 1 mile from Brickell City Centre, this apartment is ideal for those seeking immediate rentals and a location with growth potential. 2 bedrooms / 1 bathroom Responsible and punctual tenants. Rented until 2026 at $1,850/month. Immediate profitability. Assigned parking space. Low-maintenance building with excellent connectivity. The unit is being sold with an active lease, making it a secure investment with no downtime. The area continues to grow and attract interest due to its proximity to Brickell, Downtown, and Coral Gables.

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Location


Property Details


Parking

  • Description: Detached, Garage, OneSpace
  • Details: Assigned, Attached, Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 0
  • # of Stories: 3

HOA

  • Has HOA: Yes
  • HOA Fee: $250/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 0141020490090
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1964

Tax Information

  • Annual Tax: $2,572

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Silvia Sassetti
Avanti Way Brickell
(786) 442-0508

Source:
MIAMI REALTORS MLS
MLS#: A11843143
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$206
Cap Rate
5.0%
Cash-on-Cash Return
-4.9%
Debt Coverage Ratio
0.82
Internal Rate of Return (5 years)
-0.8%

Purchase Details

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Purchase price:
$219,000
Amount financed:
-$175,200
Down payment:
$43,800
Closing costs:
$6,570
Rehab costs:
$0
Initial cash invested:
$50,370
Square feet:
510
Cost per square foot:
$429
Monthly rent per square foot:
$3.92

Financing Details

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Loan amount:
$175,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,122
Property tax:
$214
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,476

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$214-$2,572
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (13%)
13%-$250-$3,000
Total operating expenses: (48%)
48%-$964-$11,572

Cash Flow


Monthly Yearly
Net operating income:
$916 $10,992
Mortgage payments:
-$1,122 -$13,464
Cash flow:
$206 $2,472