0.24 miRenovated
MLS Sold$525k
$281/sf
4735 Palmetto Dr, Miami FL
- 2 bd · 1 ba
- 1,870 sqft · built 1988
- Sold 53d ago · 141d on market
Subject is 170 sqft larger
Selected because all three are renovated, match the single family layout, and lack distinguishing premium features (no pool, no garage upgrades), keeping them tight to the subject. All three closed within the last 5 months and within 0.25mi of the subject.
Max allowable offer
$137,600
65% of ARV − repairs − fee
Open negotiation around $129,300
After repair value
$494,000
Est. repairs
$173,500
Sale to buyer
$147,600
Leod suggests 65% MAO for this submarket
Based on submarket trends — recent sub-MAO buyer activity and a stable for-sale regime in this ZIP support a 65% rule.
Inputs
Max allowable offer (% of ARV)
The 3 strongest comps Leod selected to value this property.
$525k
$281/sf
4735 Palmetto Dr, Miami FL
Subject is 170 sqft larger
$344k
$199/sf
4846 Highland Pl, Miami FL
Subject is 310 sqft larger
$572k
$261/sf
5964 Sunset Dr, Miami FL
Comp is 150 sqft larger
Standard adjustments applied for differences between each comp and the subject.
ARV rolled up from the 3 selected comparables, with adjustments applied.
Estimated ARV range
$382,000 – $559,000
Avg square feet
1,930 sqft
Subject 2,040 sqft
Price per sqft
$256/sf
Weighted across comps
Avg bedrooms
2.3
Subject 4
Avg bathrooms
1.3
Subject 1
Avg lot size
0.1 ac
Subject 0.13 ac
Avg year built
1990
Subject 1995
Avg distance
0.2 mi
From subject
Avg months sold
3 mo
Recency-weighted
Notes