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$899,900

For Sale - Active
16671 NW 89th Pl, Miami Lakes, FL 33018
4 Beds
3 Baths
2,442 Square Feet
0.15 Acres Lot
Built in 2002
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: May 30, 2025 at 04:07PM

Investment Summary


Monthly Cash Flow
-$2,319
Cap Rate
3.2%
Cash-on-Cash Return
-13.4%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-9.0%

Property Description


0.15 Acres Lot
Built in 2002
For Sale - Active
Units n/a

Welcome to this beautifully remodeled home in Genesis Oak Gardens, Miami Lakes! This stunning property features a combination of impact windows and hurricane shutters, a spacious, light-filled layout, and elegant modern upgrades throughout. The kitchen boasts sleek cabinetry, Corian countertops, and 1-year-old stainless steel appliances. Bathrooms are updated with contemporary finishes, new flooring, and a fresh, neutral color scheme. Enjoy the private backyard, ideal for relaxing or entertaining. Nestled in a quiet, family-friendly neighborhood with access to top-rated schools, parks, shopping, dining, and major highways. This move-in-ready gem offers the perfect blend of style, comfort, and convenience. Don’t miss this incredible opportunity; schedule your private tour today. NO HOA!!!

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Location


Property Details


Parking

  • Details: Attached, Circular Driveway, Driveway, Garage, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Rigid Frame Bar Joist
  • Roof Material: Barrel

Land Information

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

Lot Information

  • Parcel ID: 3220160031080
  • Lot Size: 6500 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: TwoStory
  • Year Built: 2002

Tax Information

  • Annual Tax: $4,573

Utilities

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

Location

  • County: Miami Dade

Listing Details


Listed by:
Marianela Pimentel
Premier Int'l Properties Group
(754) 204-5681

Source:
BeachesMLS
MLS#: F10500884
BeachesMLS

Investment Summary


Monthly Cash Flow
-$2,319
Cap Rate
3.2%
Cash-on-Cash Return
-13.4%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-9.0%

Purchase Details

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Purchase price:
$899,900
Amount financed:
-$719,920
Down payment:
$179,980
Closing costs:
$26,997
Rehab costs:
$0
Initial cash invested:
$206,977
Square feet:
2,442
Cost per square foot:
$369
Monthly rent per square foot:
$1.64

Financing Details

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Loan amount:
$719,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$4,698
Property tax:
$381
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,359

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$381-$4,573
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (35%)
35%-$1,381-$16,573

Cash Flow


Monthly Yearly
Net operating income:
$2,379 $28,548
Mortgage payments:
-$4,698 -$56,376
Cash flow:
$2,319 $27,828