Updated Sep 16, 2025
Ray Watson Acquires Single Family Home From Jay Wolter For $2.2 Million In Olympia Heights
8605 Sw 56 St
$2,200,000
$588/SF
Building Size
3,739 SF
Asset Type
Single Family Residence
Closing
Sep 10, 2025
About this deal
AI
The property asset involved in the transaction is a single-family home located at 8605 Southwest 56th Street in the Olympia Heights market. The sale price was recorded at $2,200,000, with a total square footage of 3,739, resulting in a price per square foot of $588.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $2,200,000
- Address: 8605 Southwest 56th Street
- Market: Olympia Heights
- Square Footage: 3,739
- Price per Square Foot: $588
- Buyer: Ray Watson
- Seller: Jay Wolter
- Buyer's Representative: Chris Borchetta - Luxe Properties
- Seller's Representative: Jordan Karp - Jordan Karp LLC
The parties involved in this transaction include Ray Watson as the buyer and Jay Wolter as the seller. The buyer was represented by Chris Borchetta from Luxe Properties, while the seller was represented by Jordan Karp from Jordan Karp LLC, marking a significant collaboration in the real estate market.
On the Map
$2,200,000
$588/SF
Single Family Residence
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Players
Miami Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $588 per square foot on a published $2.2M for 3,739 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93