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$2,395,000

For Sale - Active
1255 NE 93rd St, Miami Shores, FL 33138
3 Beds
3 Baths
2,353 Square Feet
0.36 Acres Lot
Built in 1957
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jul 12, 2025 at 03:21AM

Investment Summary


Monthly Cash Flow
-$10,262
Cap Rate
1.0%
Cash-on-Cash Return
-22.4%
Debt Coverage Ratio
0.16
Internal Rate of Return (5 years)
-17.6%

Property Description


0.36 Acres Lot
Built in 1957
For Sale - Active
Units n/a

A Must See to Appreciate Expansive 15,700 sq ft tropical lot in NE Miami Shores. Renovated in 2005. This rare-gem features a secluded backyard with an oversized pool and covered patio, lush landscaping—perfect for year-round entertaining and relaxation. Inside, a beautiful bright, open layout with skylights, abundant natural light, and a working fireplace that adds a cozy charm. The one-car garage and circular driveway offer ample parking for family and guests. Whether you’re looking for a move-in ready retreat or a place to build, this unbeatable location offers endless potential. Don’t miss this exceptional opportunity—drive by and see the beauty of this 15,700 sq ft lot by the bay. Survey Available, Call for more details !

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Location


Property Details


Parking

  • Description: CircularDriveway, Driveway, Other
  • Details: Driveway
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Roof Material: Other
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 1132050270090
  • Lot Size: 15700 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Detached, OneStory
  • Year Built: 1957

Tax Information

  • Annual Tax: $33,885

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Mina Taskiran
One Sotheby's International Re
(305) 206-4551

Source:
MIAMI REALTORS MLS
MLS#: A11813708
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$10,262
Cap Rate
1.0%
Cash-on-Cash Return
-22.4%
Debt Coverage Ratio
0.16
Internal Rate of Return (5 years)
-17.6%

Purchase Details

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Purchase price:
$2,395,000
Amount financed:
-$1,916,000
Down payment:
$479,000
Closing costs:
$71,850
Rehab costs:
$0
Initial cash invested:
$550,850
Square feet:
2,353
Cost per square foot:
$1,018
Monthly rent per square foot:
$2.97

Financing Details

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Loan amount:
$1,916,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$12,268
Property tax:
$2,824
Insurance:
$490
Private mortgage insurance (PMI):
$0
Monthly payment:
$15,582

Operating Income

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% Rent Monthly Yearly
Gross rent:
$7,000 $84,000
Vacancy loss: (6%)
6% -$420 -$5,040
Operating income:
$6,580 $78,960

Operating Expenses


% Rent Monthly Yearly
Property taxes: (40%)
40%-$2,824-$33,885
Insurance: (7%)
7%-$490-$5,880
Property management: (8%)
8%-$560-$6,720
Repairs & maintenance: (5%)
5%-$350-$4,200
Capital expenditures: (5%)
5%-$350-$4,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (65%)
65%-$4,574-$54,885

Cash Flow


Monthly Yearly
Net operating income:
$2,006 $24,072
Mortgage payments:
-$12,268 -$147,216
Cash flow:
$10,262 $123,144