565 Sw 56 Ave is a 943 sq ft Single Family in Miami. It was built in 1949. 565 Sw 56 Ave sits on 0.11 acres of land. In 2014 similar properties sold for between $165,121 and $342,557. We estimate the income value of 565 Sw 56 Ave at $42,900. The assumptions we used to calculate this value are include in the spreadsheet linked below. Miami is in Miami Dade County, Florida.

565 Sw 56 Ave Property Summary

565 Sw 56 Ave
Miami
FL 33134

Property Size:943 sq ft
Acreage:0.11
Year Built:1949
Property Class:B4
Lat, Long: 25.766, -80.286

Not Offered for Sale

This property is not currently for sale by Visulate but we may be able to find something similar. Contact us for details.

Google Street View  of 565 Sw 56 Ave, Miami, FL 33134
Estimated Value: 565 Sw 56 Ave

Market Data

In 2014 class A single family properties in Miami sold for $165.25 to 999.46 per sq ft with a median price per sq ft of $223.52. Class B properties sold for $79.65 to 165.24 per sq ft with a median of $118.67 and class C properties sold for $10.04 to 79.64 per sq ft with a median of $66.15.

Market Valuation

565 Sw 56 Ave appears to be a B Class property. Suggested value: $246,013

HighMedianLow
Value342,557 246,013 165,121

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $42,900. Details of how we produced this estimate value appear below:

The income value of a property identifies its value as a rental property, Value = Rent - Expenses / Cap Rate. The following table shows four different rent estimates for 565 Sw 56 Ave:

  • The Household Income estimate assumes the tenant has a total household income of $31,478 and spends 38% of this on rent. The household income estimate is derived from census data and tax records.
  • The Household Income - Renters estimate performs a similar calculation based on the household income of renters rather than all households.
  • The Market Rents estimate evaluates this property in comparison to rental properties in the area.
  • The Price/Ft estimate uses the size of the property to estimate its rent.

Click on a rent value to download a spreadsheet that estimates the NOI (net operating income), cash on cash return, income value and IRR (internal rate of return) for this property.

Valuation ModelMonthly Rent
Household Income - All Households $997
Household Income - Renters $886
Market Rents $786
Price/Ft $1,000

Expense Estimates:

  • Census data records show 5% of the rental properties in this area are vacant. We've added a 5% bad dept allowance to this.
  • Maintenance costs are estimated based on the size of the property.
  • The property tax estimate uses the average millage rate for the county. It does not include adjustments for city or unincorporated areas. Actual taxes may vary.
  • Insurance estimates are based on the size and location of the property. They are not adjusted for age, flood zone or other risk factors
  • We don't have a way to estimate HOA fees. These should be added manually

The following table shows a income valuation estimate for 565 Sw 56 Ave. Download a spreadsheet or click on the Estimate Cashflow link to change its estimates and assumptions. Alternatively, click on the Save button to upload a copy of the spreadsheet to Google Drive.

Amount
Monthly Rent786
Annual Rent per Sq Ft10.00
Gross Annual Rent9,430
Vacancies and Bad Debt10%
Vacancies and Bad Debt Amount943
Maintenance490
HOA, Utilities and CAM0
Property Taxes2,981
Insurance1,070
Management Fees943
NOI3,003
Cap Rate7
Estimated Value42,900
Edit Values and Estimate Cashflow Estimate Cashflow
Save to Google Drive (Google login required)

Page 1 of 2. Click on the Estimate Cashflow link to navigate to Page 2.

Search County Property Tax and Court Records

Select a county from the list then click on the links to connect to the Property Appraiser or Clerk of Courts website

Local Household Income

The median household income in this part of Florida is $44,926. The bottom 10% of the population earn less than $12,918 per year. The top 10% earn more than $184,479 per year. The top 1% earn more than $594,594 per year. Most renters earn between $25,140 (20th percentile) and $49,848 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $89,852 and $112,315.

The tax assessed value of this property places it in percentile 37 of all properties in this area. This suggests it would appeal to someone earning around $31,478 per year who should qualify for a mortgage between $62,956 and $78,695.

Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $994. Most renters earn between $2,095 and $4,154 per month. They typically spend 38% of their monthly income on rent. Most rents fall in the $666 (20th percentile) to $1,568 (80th percentile) range. The residential vacancy rate is 5%.

This property falls in percentile 37 of all properties in this area. This corresponds to a rent of $863 per month and a monthly household income of $2,523 ($30,276 per year)

Links

  1. 565 Sw 56 Ave, Miami, FL on Zillow
  2. Recent Sales near 565 Sw 56 Ave, Miami, FL on Realtor.com
  3. 565 Sw 56 Ave, Miami, FL on Google Maps
  4. 565 Sw 56 Ave Walkscore
  5. Miami, FL Property Values on Trulia
  6. Search for EPA and DEP Cleanup Sites

Owner Details

Companies near this Address

  1. Feel The Flowers By Gio Vidal Inc. (5569 Sw 6 Street)
  2. Y.E.J.E Corporation (5570 Sw 7th St)
  3. Kebos Electrical Unlimited Inc (5629 Sw 5 Terrace)
  4. Jbs Transport Us LLC (5630 Sw 5 St)
  5. Lisvette V. Enterprises, LLC (525 Sw 56 Ave)
  6. Djsn Investment Corp (580 Sw 56 Ave)
  7. Mch Trucking LLC (5554 Sw 5 Terr)
  8. Alborada Family Home Alf LLC (5524 Sw 5 Street)
  9. Tagay 2, LLC. (565 Sw 56th Ave)
  10. D & M Network LLC (711 Sw 56 Ave)
  11. Warrior Car Pro Inc. (5521 Sw 7 Street)
  12. Ned 4 Road Services Corp (5518 Sw 7 St)
  13. Albina Transport Solutions Inc (5531 Sw 6 Street)
  14. Begej St. George Incorporated (580 Sw 56th Ave)

Sales History

DateSold BySold ToDeed TypePrice
07/01/2013 Not Recorded Buyer: 6564871 Unknown 175,000.00
Disclaimers and Disclosures

Public Records Data

The information on this page was compiled from public records. It is deemed reliable but not guaranteed to be an accurate snapshot of the property details at the time the snapshot was taken. All information should be independently verified.

The Visulate site was produced from data and information compiled from recorded documents and/or outside public and private sources. Visulate is not the custodian of public records and does not assume responsibility for errors or omissions in the data it displays or for its misuse by any individual.

In the event of either error or omission, Visulate and any 3rd party data provider shall be held harmless from any damages arising from the use of records displayed on the site.