Updated Oct 28, 2024
Investco Finance LLC Acquires SFR In Bay Point, Miami For $6.6M
4241 Palm Lane, Miami, FL, USA
$6,625,000
$5,581/SF
Building Size
1,187 SF
Asset Type
Single Family Residence
Closing
Jul 1, 2020
About this deal
AI
A single-family residential (SFR) property located at 4241 Palm Ln in Bay Point, Miami has been sold. The property, with a total area of 1,187 square feet, was sold for a total sale price of $6,625,000, resulting in a price per square foot of $5,581. The transaction took place on July 1, 2021.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $6,625,000
- Property Address: 4241 Palm Ln, Bay Point, Miami
- Market: Bay Point, Miami
The buyer of the property is Investco Finance LLC, while the seller is Seth Gissen. Ana Teresa Rodriguez represented the buyer, Investco Finance LLC, and Stuart Drossner acted as the seller's representative in the deal.
It is important to note that the asking price for the property was $6,850,000, indicating that the sale price of $6,625,000 was slightly below the original asking price.
Players
Miami Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93