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Single Family Residence
$899,000$591 / sqft
2993 SW 16th Ter, Miami FL 33145
Listed
3
Bedrooms
2
Bathrooms
1,522 sqft
Interior
1924
Year built
None
HOA
Single Family Residence
Type
About this home
Seller motivated! Unique Development Opportunity on Oversized 7,650 Sq. Ft. Lot! Located near Coral Gables, Coconut Grove and Brickell, this home boasts a newer roof, abundant natural light, zoning for duplex, ready for a buyer to modify to their preference with potential to expand into a large home, generate rental income, create a multi-generational property, or redevelop this unique property offers endless possibilities. House with legal in-law quarters.
Features
- First Floor Entry
- Separate Guest/In-Law Quarters
- Other
- None
Location
Approximate — shows the building, not the unit. Open in maps (opens in a new tab)
Estimated loan & HOA
$4,546
Loan payment and HOA only. Property tax and insurance are significant here and are not included.
- Principal & interest
- $4,546
- HOA
- None
Illustration only — not a loan offer, quote, or commitment. We are not a lender and neither offer nor arrange financing. Assumes a 30-year loan at 6.5% with 20% down (rates as of July 2026); your actual terms will differ.
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 3-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $3,200–$5,100.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.