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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

6647 Sw 63rd Ter South Miami, FL 33143

3 Beds 2 Baths 1,389 sqft Built 1958
Last updated:  Dec 26, 2019

INVESTimate

$358,268

$343K - $374K

Price Est.

$3,562

$3.2K - $3.9K

Rent Est.

$379,442  ( +5.91%)   1 YR EST. FORECAST
  
  
  

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6647 Sw 63rd Ter PROPERTY INFO

FACTS
  • Built In 1958
  • Price/Sqft : $257.93
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,389 sqft
  • Baths : 2 Full

6647 Sw 63rd Ter 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

Nuevo Mundo

  • 145

    POPULATION
  • 41

    HOUSEHOLDS
  • 71.9%

    WHITE COLLAR

Neighborhood : Nuevo Mundo

HOUSEHOLDS
41
POPULATION

145

14.3%Renters
85.7%Home Owners
LABOR FORCE

 

71.9%White Collar
28.1%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 $3,562 per month.

MY RENT : $3,562 MEDIAN RENT : $3,626

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 $3,562 would therefore be considered affordable for annual household incomes greater than $142,480 (12 months x 3.333 x $3,562).

Rent % Affordability
Above $500 89.7%
Above $700 85.6%
Above $1,100 82.6%
Above $1,500 61.5%
Above $1,900 58.6%
HOUSEHOLD INCOME RANGE

Approximately 8 of households in this neighborhood have a total annual income of $142,480 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $3,562 per month.

MINIMUM INCOME RANGE : $142,480

Income % Distribution
<$20K 10.3%
$20K-$35K 5.1%
$35K-$60K 23.1%
$60K-$100K 12.8%
>=$100K 48.7%
COMMUTE TIME DISTRIBUTION

45% of the working population has a commute time of 15 to 44 minutes, 32% has a commute time of 14 minutes or less and 23% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.0%
5-9 mins 18.5%
10-14 mins 13.8%
15-19 mins 16.9%
20-29 mins 18.5%
30-44 mins 9.2%
45-59 mins 4.6%
>60 mins 18.5%
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 $3,562 per month.

MY RENT : $3,562 MEDIAN RENT : $3,626

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 $3,562 would therefore be considered affordable for annual household incomes greater than $142,480 (12 months x 3.333 x $3,562).

Rent % Affordability
Above $500 89.7%
Above $700 85.6%
Above $1,100 82.6%
Above $1,500 61.5%
Above $1,900 58.6%
HOUSEHOLD INCOME RANGE

Approximately 8 of households in this neighborhood have a total annual income of $142,480 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $3,562 per month.

MINIMUM INCOME RANGE : $142,480

Income % Distribution
<$20K 10.3%
$20K-$35K 5.1%
$35K-$60K 23.1%
$60K-$100K 12.8%
>=$100K 48.7%
COMMUTE TIME DISTRIBUTION

45% of the working population has a commute time of 15 to 44 minutes, 32% has a commute time of 14 minutes or less and 23% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.0%
5-9 mins 18.5%
10-14 mins 13.8%
15-19 mins 16.9%
20-29 mins 18.5%
30-44 mins 9.2%
45-59 mins 4.6%
>60 mins 18.5%

Nuevo Mundo Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 23.0%
Educational Services 21.6%
Health Care & Social Assistance 17.6%
Professional & Scientific Tech Services 4.1%
Public Administration 9.5%
Retail & Wholesale Trader 10.8%
Other 13.5%
AGE DISTRIBUTION

57% of the population is between the ages of 25 and 64, 35% is 24 or younger and 8% is 65 or older.

Age % Distribution
<15 20.7%
15-19 7.6%
20-24 6.9%
25-44 36.6%
45-65 20.0%
66+ 8.3%
OCCUPATION

Occupation % Distribution
Adesm 15.8%
Construction 19.3%
Healthcare 12.3%
Management, Business, & Financial 14.0%
Production & Transportation 7.0%
Protect 12.3%
Other 19.3%
HIGHEST EDUCATION LEVEL

36% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 17.6%
Doctorate 8.2%
High School 9.4%
Masters Degree 9.4%
Some College 22.4%
Other 32.9%

6647 Sw 63rd Ter Comps

Sorry, we do not have sufficient data available.

6647 Sw 63rd Ter, South Miami, FL 33143 is a single family home of 1,389 sqft. HomeUnion INVESTimateĀ® for 6647 Sw 63rd Ter includes a Price Estimate of $358,268 and a Rent Estimate of $3,562. This single family home has 3 bedrooms,2 bathrooms, and was built in 1958. This property has an estimated 15 year annualized Yield of 11.93% and Total Return of 32.80%. The estimated 1 year forecast in home value for 6647 Sw 63rd Ter 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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