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This page contains information about each property aggregated from public data sources, and is not intended to serve as an appraisal. Projections for accumulated wealth, cash flow and equity are based on predictive models used to analyze big data on more than 110 million homes. Learn more.

6083 Sw 62nd Ter South Miami, FL 33143

3 Beds 1 Baths 792 sqft Built 1962
Last updated:  Oct 23, 2019

INVESTimate

$298,513

$284K - $313K

Price Est.

$1,977

$1.8K - $2.2K

Rent Est.

$314,454  ( +5.34%)   1 YR EST. FORECAST

6083 Sw 62nd Ter PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $376.91
CONSTRUCTION
  • Beds : 3
  • Floor Size : 792 sqft
  • Baths : 1 Full
PROPERTY DESCRIPTION
6083 Sw 62nd Ter, South Miami, FL 33143 is a single family home of 792 sqft. HomeUnion estimate for 6083 Sw 62nd Ter includes a Price Estimate of $298,513 and a Rent Estimate of $1,977. This single family home has 3 bedrooms, 1 bathrooms, and was built in 1962. This property has an estimated 15 year annualized Yield of 7.95% and Total Return of 25.25%. The estimated 1 year forecast in home value for 6083 Sw 62nd Ter is 5.34%.
  
  
  

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6083 Sw 62nd Ter SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SOUTH MIAMI MIDDLE SCHOOL Middle Magnet 1,026 51 9
SOUTH MIAMI SENIOR HIGH SCHOOL High Magnet 2,248 111 4

SOUTH MIAMI MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 1,026
  • # of teachers: 51
9
GreatSchools Rating

SOUTH MIAMI SENIOR HIGH SCHOOL

  • Education Level: High
  • # of students: 2,248
  • # of teachers: 111
4
GreatSchools Rating
 

Financial Details

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Neighborhood

South Miami

  • 16,590

    POPULATION
  • 5,534

    HOUSEHOLDS
  • 70.2%

    WHITE COLLAR

Neighborhood : South Miami

HOUSEHOLDS
5,534
POPULATION

16,590

34.3%Renters
65.7%Home Owners
LABOR FORCE

 

70.2%White Collar
29.9%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,977 per month.

MY RENT : $1,977 MEDIAN RENT : $2,463

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,977 would therefore be considered affordable for annual household incomes greater than $79,080 (12 months x 3.333 x $1,977).

Rent % Affordability
Above $500 81.2%
Above $700 75.4%
Above $1,100 60.7%
Above $1,500 51.2%
Above $1,900 42.3%
HOUSEHOLD INCOME RANGE

Approximately 2,017 of households in this neighborhood have a total annual income of $79,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,977 per month.

MINIMUM INCOME RANGE : $79,080

Income % Distribution
<$20K 18.8%
$20K-$35K 11.5%
$35K-$60K 18.4%
$60K-$100K 18.6%
>=$100K 32.6%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 22% has a commute time of 14 minutes or less and 16% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.3%
5-9 mins 9.5%
10-14 mins 10.7%
15-19 mins 14.5%
20-29 mins 22.2%
30-44 mins 25.3%
45-59 mins 6.7%
>60 mins 8.8%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,977 per month.

MY RENT : $1,977 MEDIAN RENT : $2,463

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,977 would therefore be considered affordable for annual household incomes greater than $79,080 (12 months x 3.333 x $1,977).

Rent % Affordability
Above $500 81.2%
Above $700 75.4%
Above $1,100 60.7%
Above $1,500 51.2%
Above $1,900 42.3%
HOUSEHOLD INCOME RANGE

Approximately 2,017 of households in this neighborhood have a total annual income of $79,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,977 per month.

MINIMUM INCOME RANGE : $79,080

Income % Distribution
<$20K 18.8%
$20K-$35K 11.5%
$35K-$60K 18.4%
$60K-$100K 18.6%
>=$100K 32.6%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 22% has a commute time of 14 minutes or less and 16% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.3%
5-9 mins 9.5%
10-14 mins 10.7%
15-19 mins 14.5%
20-29 mins 22.2%
30-44 mins 25.3%
45-59 mins 6.7%
>60 mins 8.8%

South Miami Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 13.4%
Construction 6.8%
Educational Services 15.5%
Health Care & Social Assistance 13.5%
Professional & Scientific Tech Services 10.6%
Retail & Wholesale Trader 8.4%
Other 31.6%
AGE DISTRIBUTION

55% of the population is between the ages of 25 and 64, 32% is 24 or younger and 13% is 65 or older.

Age % Distribution
<15 17.9%
15-19 4.4%
20-24 9.7%
25-44 29.7%
45-65 25.3%
66+ 12.9%
OCCUPATION

Occupation % Distribution
Construction 9.3%
Healthcare 9.3%
Management, Business, & Financial 24.0%
Natural Resources Maintenance 6.6%
Production & Transportation 6.3%
Sales & Office 18.4%
Other 26.2%
HIGHEST EDUCATION LEVEL

29% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 8.8%
High School 19.1%
Masters Degree 12.4%
Some College 17.4%
Some High School 8.5%
Other 33.8%

6083 Sw 62nd Ter Comps

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