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Buildings/Miami/MORNINGSIDE PALMS CONDO

Value

MORNINGSIDE PALMS CONDO

650 NE 61st St, Miami 33137

1972

Year Built

Units

—

For Sale

—

Avg Price

—

Sale $/SF

For Rent

$1,850

Avg Rent

$3.56

Rent $/SF

+25.1%

YoY

For Sale

For Rent

Investor-Owned

86%

Avg HOA

—

Building Details

Address

650 NE 61st St, Miami, 33137

Neighborhood

Miami

Year Built

1972

Total Units

Avg Unit Sqft

547 SF

Tier

Value

Avg Rent

$1,850/mo

Rent $/SF

$3.56/SF

Neighborhood Rank

Top 20%

Avg Unit Value

$186K

Total Sales (All-Time)

Investment Analysis

Yield Metrics

Rental Yield (annualized)—

YoY Appreciation+25.1%

Total Yield39.4%

Liquidity & Demand

Closed Sales (120d)0

Investor-Owned86%

For Sale0

For Rent2

Top 20%

Neighborhood percentile

Market Data

Sale Price Trend ($/SF)

$424

+25.2%

Rental Price Trend ($/SF)

$3.47

+43.4%

Building Activity

Closed Sales (120d)

transactions

Low volume

Sales & Listings

Active Listings

For Rent (2)

$2K

Unit 36

1 bd1 ba519 sf

$4/SF92 DOM

$2K

Unit 25

2 bd1 ba608 sf

$4/SF22 DOM

Recent Sales

Date	Price	$/SF	Bed/Bath	SF
Jun 29, 2022	$250K	$424.45	2/1	589
Apr 21, 2021	$175K	$339.15	1/1	516
Nov 3, 2020	$153K	$296.51	1/1	516
Mar 6, 2019	$145K	$281.01	1/1	516
Apr 25, 2018	$135K	$261.63	1/1	516
Oct 20, 2017	$155K	$300.39	1/1	516
Jan 28, 2016	$117K	$225.43	1/1	519
Oct 22, 2015	$59K	$113.68	1/1	519
Mar 14, 2014	$129K	$250	1/1	516
Sep 9, 2013	$55K	$106.83	1/1	516
Jul 9, 2013	$49K	$94.38	1/1	516
Apr 12, 2013	$80K	$155.04	1/1	516
Feb 6, 2013	$130K	$164.97	2/2	788
Jul 19, 2012	$77K	$148.26	1/1	516
Apr 2, 2012	$85K	$164.73	1/1	516
Mar 27, 2012	$42K	$80.62	1/1	516
Sep 7, 2011	$70K	$135.66	1/1	516
Aug 29, 2011	$64K	$124.03	1/1	516
Jun 28, 2011	$75K	$144.51	1/1	519
Jun 17, 2011	$65K	$110.36	2/1	589
Sep 27, 2010	$54K	$104.65	1/1	516
May 14, 2010	$50K	$96.9	1/1	516
May 1, 2006	$235K	$398.98	2/1	589
May 1, 2006	$190K	$368.22	1/1	516
Mar 1, 2006	$185K	$356.45	1/1	519

Units & Ownership

Total Units

Avg Sqft

547 SF

Avg Assessed

$181K

Owner-Occupied

14%

Tax & Ownership

Investor-Owned

86%

Owner-Occupied

14%

Avg Assessed Value

$181K

Avg Taxable Value

$173K

Effective Year Built

1972

Zoning

4600

Unit Mix

1 BR11

Avg 517 SF

2 BR3

Avg 655 SF

Unit Directory

Showing 10 of 14 units

Unit	Beds	Baths	SF	Assessed	Owner	Last Sale	$/SF	Sale Date
10	2	2	788	$218K	—	$130K	$165	Feb 2013
11	1	1	519	$169K	—	$75K	$145	Jun 2011
21	2	1	589	$199K	—	$250K	$424	Jun 2022
22	1	1	516	$177K	—	$135K	$262	Apr 2018
23	1	1	516	$131K	✓	$145K	$281	Mar 2019
24	1	1	516	$177K	—	$64K	$124	Aug 2011
25	1	1	516	$181K	—	$129K	$250	Mar 2014
26	1	1	519	$177K	—	$117K	$225	Jan 2016
31	2	1	589	$199K	—	$65K	$110	Jun 2011
32	1	1	516	$181K	✓	$80K	$155	Apr 2013