Exclusive redevelopment opportunity to build up to a 21-unit multifamily in the Morningside corridor off Biscayne Blvd. The property is currently a duplex—1 Single family 2/1 main house and a 2/1 separate structure on a 10,250 sf lot with both T6-08 and T5-R zoning. This would allow for the redevelopment of the property consisting of 21 units with a vertical potential of 3 stories within the overlay. Whether you're a seasoned developer seeking your next triumph or an investor with an eye for opportunity, this parcel of land offers the perfect canvas and ideal setting for a sleek, modern structure rising amidst the bustling energy of Morningside. Its favorable zoning promotes a dynamic urban landscape where a multifamily oasis is poised for success.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$9,925
Per Month
Principal & Interest
$9,858
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
$5,988
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
6
/10
Morningside K-8 Academy
6620 NE 5th Ave
Distance between this listing and this school0.37 miles
Public Magnet Grades PK-5
7
/10
Toussaint L'Ouverture Elementary School
120 NE 59th St
Distance between this listing and this school0.67 miles
Public District Grades PK-5
7
/10
Shadowlawn Elementary School
149 NW 49th St
Distance between this listing and this school1.22 miles
Public District Grades PK-5
Nearby Schools
4
/10
Horace Mann Middle School
8950 NW 2nd Ave
Distance between this listing and this school2.08 miles
Public Magnet Grades 6-8
2
/10
Jose De Diego Middle School
3100 NW 5th Ave
Distance between this listing and this school2.24 miles
Public District Grades 6-8
7
/10
Mater Academy Middle School of International Studies
795 NW 32nd St
Distance between this listing and this school2.41 miles
Public Charter Grades 6-9
Nearby Schools
7
/10
Itech@Thomas a Edison Educational Center
6101 NW 2nd Ave
Distance between this listing and this school1.04 miles
Public Magnet Grades 9-12
3
/10
Miami Edison Senior High School
6161 NW 5th Ct
Distance between this listing and this school1.33 miles
Public Magnet Grades 9-12
10
/10
Design & Architecture Senior High School
4001 NE 2nd Ave
Distance between this listing and this school1.36 miles
The neighbors living near this home have an average income of $76,500. The majority of Miami, FL residents have income between $100k-200k annually. The majority of families are single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 631 NE 60th St
What is the listing price of this property?
The listing price of 631 NE 60th St property is $1,975,000.
What type of property is this?
The property 631 NE 60th St is land located in Miami, Florida, 33137.
Is this property for sale now?
Active Listing: 631 NE 60th St 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 $8,677 (source: MLS/based on county public records data).
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 631 NE 60th St in Miami, FL and zip code 33137 in the Morningside / Bay Shore neighborhood. This home sits on a 0.24 acre lot. It has been listed on Rocket Homes since June 12, 2024 and is currently priced at $1,975,000.
While more than 62 listings in Miami, FL in October 2024 were sold above asking price, there were more than 129 listings sold at asking price, and more than 507 were sold below. Between September 2024 and October 2024, Miami, FL real estate market has seen increase in the number of listings by 8.3%. The median list price of listings available in October 2024 was $560,436, while the average time on the real estate market was 60 days.
From Rocket Homes Real Estate and based on county public records data.