Amazing opportunity to build your dream home on this beautiful bayfront vacant lot in exclusive Paradise Point. Experience resort-style living at its best within the private, secure community of Royal Harbor Yacht Club. Enjoy 24-hr security, clubhouse, two tennis courts, heated pool, gym, and private beach with volleyball court. Take a serene nature walk to the beach to enjoy the bay view or dock your boat at the full-service marina. This lot comes with complete architectural and engineering plans for a stunning 6,000sf home featuring a rooftop pool with panoramic views of southern Biscayne Bay. The plans have been approved by both the City of Palmetto Bay and the Royal Yacht Harbor Club/Paradise Point HOA. Don't miss out on this exceptional opportunity to create your own piece of paradise
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$6,057
Per Month
Principal & Interest
$5,990
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$3,664
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
9
/10
Coral Reef Elementary School
7955 SW 152nd St
Distance between this listing and this school2.09 miles
Public District Grades PK-5
7
/10
Howard Drive Elementary School
7750 SW 136th St
Distance between this listing and this school2.11 miles
Public District Grades PK-5
10
/10
Palmetto Elementary School
12401 SW 74th Ave
Distance between this listing and this school2.33 miles
Public District Grades PK-5
Nearby Schools
7
/10
Palmetto Middle School
7351 SW 128th St
Distance between this listing and this school2.19 miles
Public District Grades 6-8
8
/10
Southwood Middle School
16301 SW 80th Ave
Distance between this listing and this school2.19 miles
Public Magnet Grades 6-8
5
/10
Richmond Heights Middle School
15015 SW 103rd Ave
Distance between this listing and this school4.40 miles
Public Magnet Grades 6-8
Nearby Schools
6
/10
Miami Palmetto Senior High School
7431 SW 120th St
Distance between this listing and this school2.68 miles
Public Magnet Grades 9-12
9
/10
Coral Reef Senior High School
10101 SW 152nd St
Distance between this listing and this school4.26 miles
Public Magnet Grades 8-12
8
/10
Biotech@Richmond Heights 9-12 High School
15020 SW 102nd Ave
Distance between this listing and this school4.34 miles
The neighbors living near this home have an average income of $164,888. The most common annual income of people living in Palmetto Bay, FL is between $100k-200k. The majority of families are married, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 5863 Paradise Point Dr
What is the listing price of this property?
The listing price of 5863 Paradise Point Dr property is $1,200,000.
What type of property is this?
The property 5863 Paradise Point Dr is land located in Palmetto Bay, Florida, 33157.
Is this property for sale now?
Active Listing: 5863 Paradise Point Dr is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2020 is $9,586 (source: MLS/based on county public records data).
How much acreage is this property?
The property 5863 Paradise Point Dr is 0.17 acres.
Interested in 5863 Paradise Point Dr? Let's connect.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 5863 Paradise Point Dr in Palmetto Bay, FL and zip code 33157 in the Paradise Point / Royal Harbor Yacht Club neighborhood. This home sits on a 0.17 acre lot. It has been listed on Rocket Homes since June 12, 2024 and is currently priced at $1,200,000.
In November 2024 more than 0 listings in Palmetto Bay, FL were sold above the asking price. During the same period more than 15 listings were sold at asking price, while more than 16 were sold below. Between October 2024 and November 2024, Palmetto Bay, FL real estate market has seen increase in the number of listings by 5.4%. The median list price of listings available in November 2024 was $1,011,000, while the average time on the real estate market was 44 days.
From Rocket Homes Real Estate and based on county public records data.
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Skiing/snowboarding
Skiing/snowboarding
Men's Tennis
Nordstrom
Bloomingdales
Brooks Brothers
California Pizza Kitchen
Bonefish Grill
Qdoba
BMW
Lexus
Acura
Talk/Personality
News
Sports