by RH Advisors

See Home Value
$1,675,000
House - Off Market

531 NE 55th Ter

Miami, FL 33137
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1896 Sqft
$10,194
Estimated Monthly
$0
HOA / Fees
2.17%
Cap Rate

About This Property

INVESTOR SPECIAL !!! Introducing an exceptional opportunity in Miami's prestigious MORNINGSIDE GATED COMMUNITY. Situated on the most desirable street with direct ocean views, this 1969 sqft property sitting on a 6540 SQFT lot is an investor's dream. Tear down and build new, or renovate the existing structure (COMPLETE GUT). With incredible comps and endless potential, DON'T MISS OUT on this prime investment opportunity!!

*renovation plans available upon request*
Unit Size
1,896Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$883
Property Type
House
Property Taxes
$1,969
HOA Dues
-
Year Built
1938
Last updated: 18 days ago (Miami MLS #A11563650)

Price History

Date / Event Date Event Price
Apr 11, 2024 No longer available -
No longer available
Apr 9, 2024 Price Decreased $1,675,000
↓ $75K (4.3%)
Price Decreased
Apr 4, 2024 Listed by Keller Williams Capital Realty $1,750,000
Listed by Keller Williams Capital Realty
Jul 12, 2023 Sold $1,310,000
Sold
Jul 2, 2023 No longer available -
No longer available
Show More

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1938
  • Effective Year Built: 2011
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Construction Type: Concrete block
  • Exterior Walls Type: Stucco
  • Roof Shape Type: Rigid frame bar
  • Floor Count: 1
  • Living Units: 1
  • Basement Area: 0
  • Garage Type: Garage
  • Garage Square Area: 161
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 6,540
  • Lot Size Depth Feet: 1,090
  • Lot Size Frontage Feet: 600
  • Total Building Area: 2,388
  • Gross Building Area: 2,388
  • Building Area: 1,896
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 1,896
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: BAYSHORE UNIT NO 3
  • Land Acres: 0.15
  • Standard Land Use Code: Single family residential
  • Legal Description 1: BAYSHORE UNIT NO 3 PB 12-50 LOT 14 BLK 25 LOT SIZE 60.000 X 109 OR 11857-2038 0783 4

Ownership

  • Current Owner : OU PROPERTIES LLC
  • Previous Owner : 531 NE 55TH TERRACE LLC
  • Owner Before Previous Owner: PACIFIC VENTURES FOUR LLC
  • Ownership Rights Codes: unknown
  • Current Owner Is a Corporation Indicator: Yes
  • Vacant Flag: Address Standardization Based
  • Vacant Flag Date: Apr 04, 2024

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: MIAMI
  • Census Tract: 002100

Zoning

  • Zoning: 0100

Geography

  • Assessors Map Reference: 174
  • District: 01
  • Parcel: 01-3218-037-0710
  • Block: 25
  • Lot: 14
  • Meridian: SEC 18 TWN 53S RNG 42E
  • Municipality: MIAMI
  • Latitude: 25.8272
  • Longitude: -80.1841

    Address

  • Full Address: 531 Ne 55th Ter
  • Legal Unit: 3
  • Address - House Number: 531
  • Street Direction: NE
  • Address - Street Name: 55th
  • Address - Suffix Type: Ter
  • State: FL
  • City Name: Miami
  • Carrier Code: C065
  • 4-Digit Zip Code: 2618
  • Zip Code: 33137

Valuation

    Tax

  • Total Area: 1,969
  • Tax Year: 2023
  • Tax Amount: $23,628
  • Tax Rate Code Area: 100

    Appraisal Valuation

  • Standard Deviation: 0.0939
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 91
  • Final Value: 1,661,348
  • High Value: 1,817,407
  • Low Value: 1,505,289

    Market Valuation

  • Market Total Value: $1,044,947
  • Market Land Value: $752,084
  • Market Improvement Value: $292,863

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,044,947
  • Assessed Land Value: $752,084
  • Assessed Improvements Value: $292,863

    Sales

  • Current Sale Contract Date: Jun 29, 2023
  • Current Sale Recording Date: Jul 12, 2023
  • Current Sale Transaction ID: 11909853426
  • Current Sale Price: $1,310,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 476973
  • Previous Sale Recording Date: Apr 22, 2022
  • Previous Sale Contract Date: Apr 18, 2022
  • Previous Sale Amount: $1,400,000
  • Previous Sale Document Type: Warranty Deed

    Previous Mortgages

  • Previous Mortgage Lender: C BRIDGE INC
  • Previous Mortgage Transaction Date: Apr 22, 2022
  • Previous Mortgage Loan Amount: $1,000,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
3 Beds
3 Baths
1,820 ft²
$852/ft²
$1,550,000 Oct 13, 2023
$1,550,000 Jan 17, 2024
$1,264/mo
House
3 Beds
3 Baths
2,039 ft²
$858/ft²
$1,750,000 Jan 31, 2024
$1,750,000 Feb 23, 2024
$838/mo
House
3 Beds
3 Baths
2,149 ft²
$745/ft²
$1,600,000 Sep 20, 2023
$1,600,000 Nov 13, 2023
$911/mo
House
3 Beds
2 Baths
1,792 ft²
$977/ft²
$1,750,000 Oct 17, 2023
$1,750,000 Jan 16, 2024
$1,527/mo
House
2 Beds
2 Baths
2,056 ft²
$730/ft²
$1,500,000 Jul 5, 2023
$1,500,000 Jan 26, 2024
$266/mo
Condo
3 Beds
3 Baths
2,129 ft²
$808/ft²
$1,720,000 Dec 7, 2023
$1,720,000 Feb 2, 2024
$1,744/mo
House
3 Beds
3 Baths
1,673 ft²
$1,225/ft²
$2,050,000 Feb 10, 2024
-
$1,757/mo
House
3 Beds
2 Baths
1,758 ft²
$853/ft²
$1,500,000 Feb 26, 2024
-
$835/mo
House
3 Beds
2 Baths
1,456 ft²
$1,065/ft²
$1,550,000 Feb 12, 2024
-
$1,111/mo
House
2 Beds
3 Baths
1,923 ft²
$793/ft²
$1,525,000 Feb 3, 2024
-
$1,701/mo
House
4 Beds
3 Baths
1,844 ft²
$773/ft²
$1,425,000 Mar 12, 2024
-
$744/mo
House
4 Beds
3 Baths
1,709 ft²
$1,229/ft²
$2,100,000 Feb 19, 2024
-
$1,092/mo

About Northern Miami


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Frequently Asked Questions

When was property at 531 Northeast 55th Terrace built and last sold?
The property at 531 Northeast 55th Terrace was built in 1938 and last sold on Jun 29, 2023 for $1,310,000.
How much is this home worth?
The estimated value of the home located at 531 Northeast 55th Terrace is $1,755,595.
What are some comparable homes to 531 Northeast 55th Terrace?
There are currently no comparable homes to 531 Northeast 55th Terrace.

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