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Description
Property Overview
- List Price: $325,000
- Full Address: 741 NW 116th St, Miami, FL 33168-2310
- Property Status: Active
- Property Type: Single-Family Home
- Bedrooms: 2
- Bathrooms: 1
- City: Miami
- State: Florida
- Zipcode: 33168
- Country: USA
- Neighborhood: Lawndale
- Community: North Miami
- Property Size: 672 Sq Ft
- Lot Size: 5,250 Sq Ft
- Year Built: 1957
Investment Summary
This 2-bedroom, 1-bath home in Lawndale, Miami is an ideal investment for a fix-and-flip strategy. The home is currently tenant-occupied, generating $2,300/month in rental income on a month-to-month basis. With its proximity to I-95 and no HOA fees, this property offers significant upside potential after renovations.
Realtor Inputs & Market Insights
- Comparable Sales:
- 1020 NW 116th Ter – Sold for $290,000 (2 Bed/1 Bath, 715 Sq Ft)
- 1050 NW 116th Ter – Sold for $320,000 (2 Bed/1 Bath, 701 Sq Ft)
- 1638 NW 115th St – Sold for $250,000 (2 Bed/1 Bath, 768 Sq Ft)
- ARV (After Repair Value): $390,000 – $465,000
- Predicted Appreciation (5-10 Years): 4-5% annually
- Estimated Rental Income: $2,500 – $2,700/month
- Rental Comparison:
- 2-bed rentals in the area range from $2,300 to $2,600/month
Operating Expenses: Estimated at 30% of gross income
Investor Strategy
- Primary Strategy: Fix & Flip – Moderate renovation required to achieve maximum resale value.
- Secondary Strategy: Buy & Hold for Rental Income – Strong rental demand with potential for long-term growth.
- Occupancy: Tenant Occupied (Month-to-Month, $2,300/month)
- Current Condition: Needs Moderate Repairs
- Estimated Repair Costs: $35,000 – $50,000
Permits & Compliance
- No known liens or violations (Needs verification)
- Inspection Reports: Property sold as-is; inspections recommended
Breakdown of Repairs Needed
| Repair Category | Estimated Cost |
| Interior Remodel (Kitchen, Bathroom, Floors, Paint, Fixtures) | $20,000 – $25,000 |
| HVAC, Plumbing, Electrical Updates | $7,000 – $10,000 |
| Roof Repairs (if necessary) | $5,000 – $8,000 |
| Exterior Enhancements & Landscaping | $3,000 – $5,000 |
| Total Estimated Costs | $35,000 – $50,000 |
Market Trends & Appreciation
- Lawndale, Miami Housing Market Trends:
- Typical Home Values: $464,496
- 1-Year Value Change: +4.9%
- Projected 1-Year Growth: +3.9%
- Median Listing Price: $563,817
Final Takeaway for Investors
This 2-bedroom home in Lawndale, Miami presents an excellent opportunity for both fix-and-flip and buy-and-hold strategies. With no HOA, tenant income, and proximity to major roads, the property offers substantial upside potential in a growing market.
Act fast—this property won’t stay on the market long!
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Disclaimer
Properties are being sold as-is, and The buyer is to pay all closing costs unless otherwise stated. No representations written or oral are made concerning the properties above. Price is based on cash or hard money offers and is net to the seller. All offers on properties require a non-refundable earnest deposit and have an average 15-day close of escrow. Buyers to do their own independent due diligence. The Property Flip LLC and or its employees or members make no guarantees concerning the property value, condition, characteristics, or financial benefits. Equal Opportunity Housing. One or more employees or members of The Property Flip LLC are licensed real estate agents in the state of Florida.
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