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$580,000

For Sale - Active
16408 Bridge End Rd, Miami Lakes, FL 33014
3 Beds
3 Baths
2,085 Square Feet
0.00 Acres Lot
Built in 1977
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Jun 02, 2025 at 03:06AM

Investment Summary


Monthly Cash Flow
-$840
Cap Rate
4.4%
Cash-on-Cash Return
-7.6%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.3%

Property Description


0.00 Acres Lot
Built in 1977
For Sale - Active
Units n/a

A MUST SEE very spacious home, over 2,000 sq ft with lake view. Large terrace with view of the widest part of the lake, complete with private dock to keep your kayaks or other non-motorized toy. Upstairs is dedicated to the Master Suite, with huge walk-in closet (17' x 11'). Large oval tub, with separate shower room and double sinks. Additional space off the bedroom for your office/nursery or work-out room. Triple double sliding doors to make the suite bright and beautiful. Downstairs offers a huge terrace (29' x 12' w/ awning, private dock. Large living room/dining area. Dining area can easily be converted back to a second downstairs master bedroom (original layout). Two more renovated bathroom plus 2 more bedrooms. Electric Hurricane shutter, LED recessed lights, new electrical panel.

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Location


Property Details


Parking

  • Details: Deeded
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 7
  • # of Stories: 2

HOA

  • Has HOA: Yes
  • HOA Fee: $987/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 3220130041820
  • Lot Size: 0 sqft

Property Information

  • Property Type: Townhouse
  • Style: CoachCarriage
  • Year Built: 1977

Tax Information

  • Annual Tax: $7,389

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Miami Dade

Listing Details


Listed by:
Lorraine Fisher-Ortega
Florida Realty of Miami Corp
(305) 231-8808

Source:
MIAMI REALTORS MLS
MLS#: A11755547
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$840
Cap Rate
4.4%
Cash-on-Cash Return
-7.6%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.3%

Purchase Details

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Purchase price:
$580,000
Amount financed:
-$464,000
Down payment:
$116,000
Closing costs:
$17,400
Rehab costs:
$0
Initial cash invested:
$133,400
Square feet:
2,085
Cost per square foot:
$278
Monthly rent per square foot:
$1.97

Financing Details

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Loan amount:
$464,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,971
Property tax:
$616
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,874

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$616-$7,389
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (2%)
2%-$82-$984
Total operating expenses: (42%)
42%-$1,723-$20,673

Cash Flow


Monthly Yearly
Net operating income:
$2,131 $25,572
Mortgage payments:
-$2,971 -$35,652
Cash flow:
$840 $10,080