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Description
Property Overview
- List Price: $345,000
- Full Address: 1561 NW 131st St, North Miami, FL 33167-1630
- Property Status: Active
- Property Type: Single-Family Home
- Bedrooms: 3
- Bathrooms: 2
- City: North Miami
- State: Florida
- Zipcode: 33167
- Country: USA
- Neighborhood: Rana Park
- Community: North Miami
- Property Size: 1,667 Sq Ft
- Lot Size: 7,950 Sq Ft
- Year Built: 1954
Investment Summary
This 3-bedroom, 2-bath single-family home in North Miami is an excellent fix-and-flip opportunity. The property has fire damage, making it suitable for investors with experience in structural renovations. It offers significant upside potential due to its spacious lot and prime Miami location. Surrounded by thriving development and amenities, this home could yield a high return after a full rebuild or renovation.
Realtor Inputs & Market Insights
- Comparable Sales:
- 12951 NW 19th Ave – Sold for $330,000 (3 Bed/2 Bath, 1,360 Sq Ft)
- 1521 NW 134th St – Sold for $507,000 (3 Bed/2 Bath, 1,375 Sq Ft)
- 1080 NW 140th St – Sold for $550,000 (3 Bed/2 Bath, 1,538 Sq Ft)
- ARV (After Repair Value): $490,000 – $669,700
- Predicted Appreciation (5-10 Years): 4% annually
- Estimated Rental Income: $3,200 – $3,500/month
- Rental Comparison:
- 3-bed rentals in the area range from $2,950 to $4,500/month
Operating Expenses: Estimated at 30% of gross income
Investor Strategy
- Primary Strategy: Fix & Flip – High potential for profit after a full renovation due to comparable properties in the $500,000+ range.
- Secondary Strategy: Buy & Hold – Excellent rental demand in this area with potential cash flow from a fully rebuilt property.
- Occupancy: Vacant (Unsafe Structure)
- Current Condition: Requires Major Repairs
- Estimated Repair Costs: $100,000 – $150,000
Permits & Compliance
- No known liens or violations (Verification recommended).
- Inspection Reports: Property sold as-is; inspections recommended
Breakdown of Repairs Needed
| Repair Category | Estimated Cost |
| Demolition & Structural Rebuild | $40,000 – $50,000 |
| Interior Remodel (Kitchen, Bathroom, Flooring, Fixtures) | $40,000 – $50,000 |
| HVAC, Plumbing, Electrical Updates | $15,000 – $20,000 |
| Exterior Enhancements & Landscaping | $5,000 – $10,000 |
| Total Estimated Costs | $100,000 – $150,000 |
Market Trends & Appreciation
- North Miami Housing Market Trends:
- Typical Home Values: $422,301
- 1-Year Value Change: +3.6%
- Projected 1-Year Growth: +3.9%
- Median Listing Price: $438,333
Final Takeaway for Investors
This 3-bedroom home in North Miami presents a high-reward fix-and-flip project. With fire damage and a rebuild required, it offers a blank slate to create a modern, custom home in a high-demand neighborhood. Investors with experience in major renovations will find this to be an outstanding opportunity in a market with strong appreciation and rental demand.
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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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