2625 NW 55TH ST, MIAMI, FL 33142

$159,000 4 bd, 2 ba, 1,677 sqft

This amazing property in¬†2625 NW 55TH ST, MIAMI comes with a Detached efficiency! The house is zoned single family and it has a legal mother-in-law’s quarters! The front unit, is a 4/2 divided into two units, which generates $1650 per month in rental income! The detached rear-unit efficiency is completely vacant and it previously generated $600 per month in rental income! This duplex comes with two electric meters and needs a light rehab of about $10,000 and an increase of rental income to produce it’s fullest potential! The rent could be increased to more than $2,100 for the front units, and $800 for the efficiency!¬†Rental income average in the area for a monthly rental: Three-bedroom, one-bathroom units average between $1,500 and $1,600 One-bedroom, one-bathroom houses generate between $900 and $1000 Efficiency’s average between $750 and $850

Comps:
2959 S.W. 56 St. – 3/1 and 1/1 sold for $280,000
5529 N.W. 7 Ct. – Two 2/1’s sold for $252,000
1120 N.W. 64 St. – 3/2 and 1/1 sold for $210,000

Estimated Gross Rental Income: $41,000!
Net Operating Income, including expenses and vacancy rate — $22,000!
RETURN ON INVESTMENT is 14.3 percent!!

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Property Details

Price:
$159,000
Address:
2625 NW 55TH ST, MIAMI, FL 33142
City:
Miami
State:
Florida
Zip Code:
33142
Year Built:
1956
Terms:
For Sale
Property Type:
Home
Square Feet:
1,677
Bedrooms:
4
Bathrooms:
2
Lot Size:
6,104 SQFT
Const. Type:
Cement concrete

Call (786) 565-8726 for more details

Property Location

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