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This page contains aggregated information about each property, 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 about INVESTimate

6116 Sw 62nd Ter 4 South Miami, FL 33143

2 Beds 1 Baths 633 sqft Built 1953
Last updated:  Jan 23, 2020

INVESTimate

$168,224

$160K - $176K

Price Est.

$1,809

$1.6K - $2.0K

Rent Est.

$178,166  ( +5.91%)   1 YR EST. FORECAST
  
  
  

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6116 Sw 62nd Ter 4 PROPERTY INFO

FACTS
  • Built In 1953
  • Price/Sqft : $265.76
CONSTRUCTION
  • Beds : 2
  • Floor Size : 633 sqft
  • Baths : 1 Full

6116 Sw 62nd Ter 4 SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SOUTH MIAMI K-8 CENTER SCHOOL Primary Magnet 825 60 8
SOUTH MIAMI MIDDLE SCHOOL Middle Magnet 1,026 51 9
SOUTH MIAMI SENIOR HIGH SCHOOL High Magnet 2,248 111 4

SOUTH MIAMI K-8 CENTER SCHOOL

  • Education Level: Primary
  • # of students: 825
  • # of teachers: 60
8
GreatSchools Rating

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

Pines

  • 65

    POPULATION
  • 21

    HOUSEHOLDS
  • 60.0%

    WHITE COLLAR

Neighborhood : Pines

HOUSEHOLDS
21
POPULATION

65

29.6%Renters
70.4%Home Owners
LABOR FORCE

 

60.0%White Collar
40.0%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 $1,809 per month.

MY RENT : $1,809 MEDIAN RENT : $1,832

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 $1,809 would therefore be considered affordable for annual household incomes greater than $72,360 (12 months x 3.333 x $1,809).

Rent % Affordability
Above $500 83.3%
Above $700 80.0%
Above $1,100 63.3%
Above $1,500 61.1%
Above $1,900 43.8%
HOUSEHOLD INCOME RANGE

Approximately 7 of households in this neighborhood have a total annual income of $72,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,809 per month.

MINIMUM INCOME RANGE : $72,360

Income % Distribution
<$20K 16.7%
$20K-$35K 11.1%
$35K-$60K 11.1%
$60K-$100K 33.3%
>=$100K 27.8%
COMMUTE TIME DISTRIBUTION

69% of the working population has a commute time of 15 to 44 minutes, 19% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.8%
5-9 mins 3.8%
10-14 mins 11.5%
15-19 mins 7.7%
20-29 mins 15.4%
30-44 mins 46.2%
45-59 mins 7.7%
>60 mins 3.8%
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 $1,809 per month.

MY RENT : $1,809 MEDIAN RENT : $1,832

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 $1,809 would therefore be considered affordable for annual household incomes greater than $72,360 (12 months x 3.333 x $1,809).

Rent % Affordability
Above $500 83.3%
Above $700 80.0%
Above $1,100 63.3%
Above $1,500 61.1%
Above $1,900 43.8%
HOUSEHOLD INCOME RANGE

Approximately 7 of households in this neighborhood have a total annual income of $72,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,809 per month.

MINIMUM INCOME RANGE : $72,360

Income % Distribution
<$20K 16.7%
$20K-$35K 11.1%
$35K-$60K 11.1%
$60K-$100K 33.3%
>=$100K 27.8%
COMMUTE TIME DISTRIBUTION

69% of the working population has a commute time of 15 to 44 minutes, 19% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.8%
5-9 mins 3.8%
10-14 mins 11.5%
15-19 mins 7.7%
20-29 mins 15.4%
30-44 mins 46.2%
45-59 mins 7.7%
>60 mins 3.8%

Pines Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 10.0%
Educational Services 26.7%
Financial Industries 10.0%
Health Care & Social Assistance 16.7%
Professional & Scientific Tech Services 6.7%
Retail & Wholesale Trader 6.7%
Other 23.3%
AGE DISTRIBUTION

57% of the population is between the ages of 25 and 64, 29% is 24 or younger and 14% is 65 or older.

Age % Distribution
<15 16.9%
15-19 6.2%
20-24 6.2%
25-44 30.8%
45-65 26.2%
66+ 13.8%
OCCUPATION

Occupation % Distribution
Construction 13.6%
Healthcare 9.1%
Management, Business, & Financial 18.2%
Production & Transportation 13.6%
Protect 4.5%
Sales & Office 18.2%
Other 22.7%
HIGHEST EDUCATION LEVEL

33% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 9.3%
High School 25.6%
Masters Degree 16.3%
Some College 11.6%
Some High School 14.0%
Other 23.3%

6116 Sw 62nd Ter 4 Comps

Sorry, we do not have sufficient data available.

6116 Sw 62nd Ter 4, South Miami, FL 33143 is a single family home of 633 sqft. HomeUnion INVESTimateĀ® for 6116 Sw 62nd Ter 4 includes a Price Estimate of $168,224 and a Rent Estimate of $1,809. This single family home has 2 bedrooms,1 bathrooms, and was built in 1953. This property has an estimated 15 year annualized Yield of 12.90% and Total Return of 33.57%. The estimated 1 year forecast in home value for 6116 Sw 62nd Ter 4 is 5.91%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in FL , MIAMI-DADE County , or the 33143 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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