565 Sw 56 Ave, Miami

Usage

Single Family

Address:

565 Sw 56 Ave
Miami
FL 33134

Property Size:925 sq ft
Acreage:0.11
Year Built:1949
Property Class:B4
Latitude:25.766
Longitude:-80.286

Not Offered for Sale

Our records indicate this property is not currently for sale but we may be able to find something similar. Contact us for details.

Welcome to Visulate

Visulate is a real estate brokerage based in Merrit Island, Florida. We have assembled a database with details of every property in Florida. Finding the property on our site does not necessarily mean it is for sale or rent at this time.

Contact us if you want to buy or sell real estate in Miami:

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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

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. Miami, FL Property Values on Trulia
  5. Demographic Data for Zipcode 33134 from City-Data.com
  6. Miami Demographics from City-Data.com
  7. Phone numbers and opening hours for businesses in the 33134 Zipcode

Owner Details

Companies near this Address

  1. Feel The Flowers By Gio Vidal Inc. (5569 Sw 6 Street)
  2. Kebos Electrical Unlimited Inc (5629 Sw 5 Terrace)
  3. Mar Caribe Services, Inc. (5611 Sw 5 Terrace)
  4. Noralis Rph, Inc. (5560 Sw 5 Terrace)

Sales History

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

Miami-Dade County Real Estate - Miami

Miami

Miami is Florida's second most populous city. Miami is also the second largest US city with a Spanish speaking majority, which accounts for its nickname of "the capital of Latin America." Industries with the largest influence in Miami include commerce, finance, and international business. Miami is home to the headquarters of many large businesses including Burger King, US Century Bank, Caribbean Cruise Lines, and World Fuel Services. The port of Miami is one of the nation's busiest ports and contributes $18 billion to the city's economy. The largest employers in Miami are Miami-Dade County Public Schools, Miami-Dade County, United States Government, Florida Government, University of Miami, and Baptist Health South Florida.

Miami is in South East Florida. It's population as recorded in the 2010 Census was 399,457.

The median age for residents of Miami is 38.8. Around 27.3% of Miami households include school aged children and 29.9% of households include individuals aged 65 years or over. Census records indicate 72.5% of the Miami population are White, 19.2% are Black or African American, .2% American Indian, .9% Asian and 2.6% are Two or more Races. Miami has a significant Hispanic population. 69.9% (279,456) of Miami residents are of Hispanic or Latino origin. Of these 2.08% are of Mexican origin, 4.57% Puerto Rican, 49.13% Cuban and 44.2% are of other Hispanic or Latino origin.

There are 183,994 housing units in Miami. 25,677 (13.9%) of these were reported as vacant in the 2010 Census. There are 118,493 residential rental units in Miami. 107,131 of them were occupied in 2010 providing a residential rental vacancy rate of 9.2%.

Miami links:

Local Household Income

The median household income in this part of Florida is $42,759. The bottom 10% of the population earn less than $13,235 per year. The top 10% earn more than $147,573 per year. The top 1% earn more than $536,049 per year. Most renters earn between $23,844 (20th percentile) and $42,888 (80th percentile) per year.

Source: US Census American Community Survey - 2007-2011 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $967. Most renters earn between $1,987 and $3,574 per month. They typically spend 40% of their monthly income on rent. Most rents fall in the $662 (20th percentile) to $1,396 (80th percentile) range. The residential vacancy rate is 5%.

Estimated Value: 565 Sw 56 Ave

Market Data

In 2013 class A single family properties in Miami sold for $155.23 to 961.19 per sq ft with a median price per sq ft of $219.07. Class B properties sold for $74.23 to 155.22 per sq ft with a median of $108.01 and class C properties sold for $10.10 to 74.22 per sq ft with a median of $62.03.

Market Valuation

565 Sw 56 Ave appears to be a B Class property. Suggested value: $219,640

HighMedianLow
Value315,643 219,640 150,948

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $60,971. 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 $30,441 and spends 40% 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 $1,015
Household Income - Renters $945
Market Rents $852
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 Rent852
Annual Rent per Sq Ft11.00
Gross Annual Rent10,228
Vacancies and Bad Debt10%
Vacancies and Bad Debt Amount1,023
Maintenance481
HOA, Utilities and CAM0
Property Taxes1,999
Insurance1,434
Management Fees1,023
NOI4,268
Cap Rate7
Estimated Value60,971
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.

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.