6 months on rocket

225 NW 16th St, Miami, FL, 33136

$1,575,000

Home List Price

$10,000*

Closing Credit

0 Baths
3,528 SqFt
$446/SqFt
Multi
Schools Nearby

Location

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225 NW 16th St, Miami$1,575,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
Year Built1954
HeatingWall Furnace
CoolingWall/Window Unit(s)
MLS #A11469018
StatusActive

About 225 NW 16th St

THIS IS A 8 UNIT a prime opportunity: 8 one-bedroom, one-bath apartments in Overtown. Units boast a strategic location and robust income potential. Maintained as-is or developed further, they are conveniently situated next to a substantial new construction project. A recent 40 yr inspection passed (report attached) Prospective buyers could potentially assume the existing loan or a purchase money mortgage. With rents currently below market rates (allowing room for increased capitalization), these apartments are strong income generators. Refer to the attached rent roll (excluding one recently leased at $1350) Each unit features separate water and electric meters, as well as wall-mounted AC units, ensuring tenant independence. New roof (2022), meters and electrical serv (2023) add to value.

Property Details

Property Features

Property Information:

  • Architectural Style: Fourplex
  • Year Built: 1954
  • Stories: 2
  • Living Area: 3,528 SqFt

Listing Office:

  • Office Name: New World Realty Group Inc
  • Office Phone: (305) 444-9300
  • Listing Agent: Humberto Rego

Interior Features

Interior Information:

  • Flooring Type: Ceramic Tile, Vinyl

Virtual/3D Tour

  • Virtual Tour: 225 NW 16th St

Virtual Tour

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: Wall/Window Unit(s)

School Info

Assigned Schools Information:

  • Booker T. Washington Senior High School, Public Magnet Grades 9-12
  • Jose De Diego Middle School, Public District Grades 6-8
  • Phyllis Wheatley Elementary School, Public District Grades PK-5

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,575,000
  • Price Per SqFt: $446/SqFt

Tax Information:

  • Annual Amount: $5,348
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Miami, FL.

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Miami, FL

City

Med. Sold Price

$540K

Med. Price/SqFt

$380

Avg. Days On Market

59

# of Sold Homes

883

225 NW 16th St vs Miami

198 DAYS ON ROCKET

+139 Days

$1,575,000

+$1.0M More

$446/SqFt

+$66 More

KEY TAKEAWAY

This property is $1.0M more than the Median Sold Price and $66/SqFt more than other homes in Miami, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SEFMIAMI
  • MLS Number: #A11469018

Listing Office:

  • Office Name: New World Realty Group Inc
  • Office Phone: (305) 444-9300
  • Listing Agent: Humberto Rego

IDX © 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 5:25:14 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$5,348$251,088
2018$4,573$218,370
2017$4,489$218,391

History based on county public records data.

Payment Calculator

$7,928

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,788

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-2913496
4
/10

  • Phyllis Wheatley Elementary School

  • 1801 NW 1st Pl

  • 0.22 miles

  • Public District Grades PK-5

Middle School

school-card-donut-2913497
1
/10

  • Jose De Diego Middle School

  • 3100 NW 5th Ave

  • 1.09 miles

  • Public District Grades 6-8

High School

school-card-donut-2913498
3
/10

  • Booker T. Washington Senior High School

  • 1200 NW 6th Ave

  • 0.44 miles

  • Public Magnet Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,246. Typical income of Miami, FL residents is less than $35k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›Florida›Miami-Dade County›Miami›33136›225 NW 16th St

This home is located at 225 NW 16th St in Miami, FL and zip code 33136 in the Downtown neighborhood. This 3,528 square foot home was built in 1954. It has been listed on Rocket Homes since October 13, 2023 and is currently priced at $1,575,000.

Miami, FL housing market in March 2024 saw over 115 listings sold above listed price, more than 149 sold at listed price and over 619 sold below. The inventory of homes for sale in Miami, FL between February 2024 and March 2024 increased by 9.1%. The median list price of listings available in March 2024 was $540,091, while the average time on the real estate market was 59 days.

From Rocket Homes Real Estate and based on county public records data.

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