Lakefront 4/3 with Pool Priced $20k Below Tax Assessed Value
$439,900
SOLD
7435 Sabal Dr
Miami Lakes, FL
Huge lakefront CBS split floor plan property with both a pool and a 2 car garage, in extremely sought after Miami Lakes BELOW 75% ARV!
Roof will need work, but might not need replacing. In addition to a skylight leak, the roof leaks over the patio, and hasn't been maintained.
Property has solid bones, but needs a complete updating. New kitchen, baths, floors, and paint.
Central A/C blows cold.
Buyer is to assume roughly $10,000 in Municipal Liens for paint and neglected/unmowed lawn at closing.
Breakdown of Comps:
Active:
*These properties show how irreplaceable this deal is!
-7430 Twin Sabal Dr: 4/2 Asking $512k, but it is not on the water, and the backyard overlooks a power plant while the front of the house faces older town-homes/condos. Not only is this property in a much worse section of the subdivision, but it is traditionally updated over the years by the owner, not a modern flip.
-6900 Seagrape Ter: 4/3 Asking $515k and rising despite being 500 sq ft smaller, not having a pool, and being distressed/outdated.
-14300 Leaning Pine Dr: 4/3 Asking $630k. This property is barely 300 sq ft smaller, but does not have a garage, nor a pool. The house is also very clean and nice, but traditional not updated or rehabbed.
-6951 S Miami Lakeway S: 3/2 Asking $669,999. A very nice rehab, but no pool or water access. It is also about 700 sq ft smaller than our subject.
Closed:
- 14401 Dade Pine Ave: 5/3 Closed at $555k 08/04/2017. Not on water, but does have a pool. Was not a flip, traditional home that was updated over the years, but never modernized.
- 6930 Maple Ter: 4/3 Closed at $579k 11/30/2017. 400 sq ft smaller, no water access, and no garage. Nice rehab and has a pool as well.
- 14452 Rosewood Rd: 3/2 Closed at $583,500 04/05/2018. Standard rehab, very similar to subject except no pool and one less bed and bath.
- 14300 Cypress Ct: 3/2 Closed at $604k 06/14/2018. Very nice rehab, nearly identical house and lot. Only differences between this property and our subject are this one being just over 200 sq ft smaller, and having one less bed and bath.
Pending:
- 6321 Lake Champlain Ter: 4/3 Pending at $515k. This house is 600 sq ft smaller, not on the water, and clean but outdated.
Property is occupied, so please drive-by only, and do not disturb occupants. Property will be delivered vacant at closing.
Disclaimer:
** Property Appraiser says the home is a 3/2. However, other properties the same model in that subdivision were originally built as a 4/3, and it is currently a 4/3. Property also sold in 2006 with a conventional loan as a 4/3 **