For Sale - 2505 Sw 83 Ter, $225,000

3 bedrooms/2.5 baths. Club house, fitness center, community pool, tennis court, play ground. Call to schedule to see this beauti

3 bedrooms/2.5 baths. Club house, fitness center, community pool, tennis court, play ground. Call to schedule to see this beautiful unit.

Sq Ft1450
Bedrooms3
Full Bathrooms2
Half Bathrooms1
Maintenance Charge/Month0
Maintenance IncludesOther Maintenance Includes
Carport Spaces0
Garage Spaces0
Pets AllowedYes
Pet RestrictionsRestrictions Or Possible Restrictions
High School
Middle School
Elementary School
MLS NumberA10282383
Virtual Tourhttp://www.propertypanorama.com/instaview/mia/A10282383
Verified10/18/2017 01:31am


Contact Sue for additional details
  • Email:
  • Phone: (321) 453 7389
  • Property ID: 10917811

Please quote reference number: when you call or email


Listing provided by Unlimited Real Estate Corp.. Copyright 2017 Multiple Listing Service of South East Florida and Miami Association of Realtors. All rights reserved.

2505 Sw 83 Ter is a 1,450 sq ft Condominium in Miramar. It was built in 2004. 2505 Sw 83 Ter sits on 0.02 acres of land. In 2016 similar properties sold for between $196,359 and $780,823. We estimate the income value of 2505 Sw 83 Ter at $67,400. The assumptions we used to calculate this value are include in the spreadsheet linked below. Miramar is in Broward County, Florida.

2505 Sw 83 Ter Property Summary

2505 Sw 83 Ter
Miramar
FL 33025

Property Size:1,450 sq ft
Acreage:0.02
Year Built:2004
Property Class:A5
Lat, Long: 25.987, -80.253
Estimated Value: 2505 Sw 83 Ter

Market Data

In 2016 class A condominium properties in Miramar sold for $152.76 to 607.45 per sq ft with a median price per sq ft of $173.55. Class B properties sold for $102.81 to 152.75 per sq ft with a median of $125.24 and class C properties sold for $14.42 to 102.80 per sq ft with a median of $92.96.

Market Valuation

2505 Sw 83 Ter appears to be an A Class property. Suggested value: $223,083

HighMedianLow
Value780,823 223,083 196,359

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $67,400. 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 2505 Sw 83 Ter:

  • The Household Income estimate assumes the tenant has a total household income of $25,793 and spends 35% 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 $752
Household Income - Renters $806
Market Rents $700
Price/Ft $2,225

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 2505 Sw 83 Ter. 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 Rent967
Annual Rent per Sq Ft8.00
Gross Annual Rent11,607
Vacancies and Bad Debt10%
Vacancies and Bad Debt Amount1,161
Maintenance754
HOA, Utilities and CAM0
Property Taxes3,230
Insurance1,257
Management Fees1,161
NOI4,044
Cap Rate6
Estimated Value67,400
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 $87,115. The bottom 10% of the population earn less than $27,136 per year. The top 10% earn more than $202,982 per year. The top 1% earn more than $512,338 per year. Most renters earn between $42,576 (20th percentile) and $72,900 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $174,230 and $217,788.

The tax assessed value of this property places it in percentile 9 of all properties in this area. This suggests it would appeal to someone earning around $25,793 per year who should qualify for a mortgage between $51,586 and $64,483.

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 $1,506. Most renters earn between $3,548 and $6,075 per month. They typically spend 35% of their monthly income on rent. Most rents fall in the $1,076 (20th percentile) to $1,953 (80th percentile) range. The residential vacancy rate is 5%.

This property falls in percentile 9 of all properties in this area. This corresponds to a rent of $861 per month and a monthly household income of $2,893 ($34,716 per year)

Links

  1. 2505 Sw 83 Ter, Miramar, FL on Zillow
  2. Recent Sales near 2505 Sw 83 Ter, Miramar, FL on Realtor.com
  3. 2505 Sw 83 Ter, Miramar, FL on Google Maps
  4. 2505 Sw 83 Ter Walkscore
  5. Miramar, FL Property Values on Trulia
  6. Search for EPA and DEP Cleanup Sites

Owner Details

Companies near this Address

  1. I. E. R. LLC (2440 Sw 83rd Ter)
  2. Dudley Allen Pa (2440 Sw 83rd Ter)
  3. Sunset Car Rental, L.L.C. (8364 Sw 25th Ct)
  4. D.A.D.C. LLC (2440 Sw 83 Ter)
  5. Dsjc LLC (2440 Sw 83 Ter)
  6. Mjb Yolo Investments, LLC (2606 Sw 83rd Ter)
  7. Voices Of Purity Inc (2604 Sw 83 Terr)
  8. Mdast Consulting, LLC (2612 Sw 83 Terrace)
  9. Saj Investors LLC (2551 Sw 83 Ave)
  10. Ochandorena & Rodriguez LLC (2536 Sw 83rd Ave)
  11. Vip Style Company (2620 Sw 83rd Ave)
  12. Db Fitlife, Inc (8269 Sw 25th Ct)
  13. Cross-Cultural Speech Language Pathology Service Inc (2585 Sw 83rd Ter)
  14. Suzzie Q Fashion Consulting, LLC (2601 Sw 83rd Ave)

Sales History

DateSold BySold ToDeed TypePrice
11/01/2011 Not Recorded Buyer: 7416517 Unknown 8,300.00
07/01/2014 Seller: 7416517 Not Recorded Unknown 100.00
07/01/2014 Seller: 7416517 Buyer: 9594901 Unknown 100.00
11/01/2014 Not Recorded Buyer: 7416517 Unknown 100.00
01/01/2016 Seller: 7416517 Not Recorded Unknown 100.00
02/01/2016 Not Recorded Not Recorded Unknown 0.00
08/01/2016 Not Recorded Buyer: 1529091 Unknown 100.00
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.

MLS Data

Visulate participates in My Flordia Regional, South East Florida MLS and the Brevard County Broker Reciprocity programs, allowing us to display other broker's listings on our site. Listing data supplied by other brokers is deemed reliable but not guaranteed. It is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties to buy, lease or rent.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Programs of My Flordia Regional, South East Florida MLS and Brevard County, Florida. Real estate listings held by brokerage firms other than Visulate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.