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$287,500

Beds
2
Baths
1.5
sq ft
825

5960 NE 5th Ct Unit 2, Miami, FL 33137

5960 NE 5th Ct Unit 2

Miami, FL 33137

  • 383 days on market
    • Price drop $22,500↓
AN INVESTOR'S DREAM. Ideal for short-term/Airbnb rentals in one of the hottest markets in South Florida. No rental restrictions, no Association approval, can do 1-day rentals 365 times a year. Seller owns units #2, #5, #6, #9 and wants to sell them all 4 or 2 as a package deal. Each unit was renovated as needed within the last 2 years. Market value for all 4 units would bring a 6% Cap Rate. *Cash Deals, Owner Financing, and Non-Warrantable Mortgages Available* Call listing agent for more info and to schedule an appointment.

Details

Property type

Condominium

Est. home value

$244,493

Lot size

Unknown

Price per sq ft

$349

Year built

1974

Annual property taxes

$2,000

Monthly HOA fee

$400

Price History

05/28/2024
SEF

SEF #A11482421

Price change
$287,500
-7.26%
01/23/2024
SEF

SEF #A11482421

Price change
$310,000
-11.43%
01/04/2024
SEF

SEF #A11482421

Listed
$350,000

Schools & Community

Neighborhood: 

Upper Eastside

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$165,715
Asking price
$287,500
Closing costs (~8% of asking)
-$23,000
Est. remaining loan balance
-$98,785
Cash to seller
$165,715

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Castle Mortgage Corp

Loan start date

September 2023

Original loan amount

$100,000

Est. remaining balance

$98,785

Interest rate

6.9%

Loan type

New Conventional, 30 year

Seller

Carlos Fernando Flores

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/23/2024 at 3:20 PM

Listing updated: 11/05/2024 at 3:10 PM

Listed by: Frank Gabriel, Coldwell Banker Realty Phone #: (305) 931-8266

MLS: SEF #A11482421

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