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Description
Property Overview
- List Price: $305,000
- Full Address: 60 NW 120th Ter, North Miami, FL 33168
- Property Status: Active
- Property Type: Single-Family Home
- Bedrooms: 2
- Bathrooms: 1
- City: North Miami
- State: Florida
- Zipcode: 33168
- Country: USA
- Neighborhood: Overbrook Shores No-2
- Community: North Miami
- Property Size: 777 Sq Ft
- Lot Size: 6,840 Sq Ft
- Year Built: 1950
Investment Summary
This 2-bed, 1-bath home in North Miami’s 33168 market presents a high-potential fix-and-flip project. The property is gutted and ready for a full rehab, including fire damage on the front porch. Comparable properties have recently sold for up to $460,000, indicating a strong upside for a profitable resale.
Realtor Inputs & Market Insights
- Comparable Sales:
- 1020 NW 116th Ter – Sold for $290,000 (2 Bed/1 Bath, 715 Sq Ft)
- 245 NW 131st St – Sold for $460,000 (2 Bed/2 Bath, 894 Sq Ft)
- 12435 NW 10th Ave – Sold for $410,000 (2 Bed/1 Bath, 837 Sq Ft)
- ARV (After Repair Value): $420,000 – $460,000
- Predicted Appreciation (5-10 Years): 5-6% per year
- Estimated Rental Income: $2,500 – $3,000/month
- Rental Comparison:
- 2-bed rentals in the area average $2,600 – $3,000/month
- Updated homes can rent for $3,000+ per month
Operating Expenses: Estimated at 30% of gross income
Investor Strategy
- Primary Strategy: Fix & Flip – Strong ROI potential with high resale value
- Secondary Strategy: Buy & Hold for Rental Income – High rental demand in the area
- Occupancy: Vacant
- Current Condition: Gutted, Needs Full Renovation
- Estimated Repair Costs: $50,000 – $75,000
Permits & Compliance
- Liens/Violations: Buyer to assume lien #CEDSP-2022-00010 due to depreciation of surrounding areas
- Inspection Reports: Property sold As-Is; inspections recommended before submitting offers
Market Trends & Appreciation
- North Miami 33168 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
- Median Sale Price: $410,000
Average Days to Pending:30-40 Days
Final Takeaway for Investors
This North Miami fixer-upper is perfect for investors looking for a high-ROI fix-and-flip deal. With an ARV of up to $460K and a manageable rehab budget, this deal presents a strong investment opportunity in a rapidly appreciating market.
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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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