Market Update: West Coconut Grove Townhouses

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3373 Day Avenue, Miami, FL 33133
3 beds/3 baths | 2,300 sf | New Construction/Built in 2014 | Sold for $690,000

With 2014 coming to a close, I decided to take a look at the market activity this year in the “West Grove” townhouse market (aka the neighborhood of Center Grove that sits west of McDonald/32nd Ave.) – and it’s clear that things are heating up!  Earlier this month, a new construction townhouse (pictured above) located at 3373 Day Ave. sold for $690,000 ($300/sf).   Other notable sales in the neighborhood this year included a pair of new construction townhouses which sold in June for $679,000 each, and are located at 3407 and 3409 Day Ave.  Another sale nearly broke $700k – a townhome at 3060 Indiana St. sold for $695,000 in August.

Looking at the market data below, as well as all of the new construction that continues to break ground in this neighborhood, it’s clear that buyers and developers alike are bullish on the future of the West Grove.  Not to mention that buying new construction in the West Grove gets you a discount of nearly $100k!  Did I mention that two townhouses identical to the property pictured above sold on Orange St. in Center Grove for $780,000 and $760,000 in October?  Here are a few drool-worthy shots of these newly constructed properties.:

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Check out all the data below, including the active listings.  There’s still a handful of new construction available (for now!) – contact me today for more information about buying or selling a townhouse in Coconut Grove.

Active Listings:

Address Sq Ft #Beds #FB #HB List Price LP$/SqFt YR
3059 INDIANA ST # 15 2350 3 2 1 769,000 327.234 2006
3010 ELIZABETH ST # 3010 2802 5 4 0 750,000 267.666 2010
3375 DAY AV # 3375 2300 3 3 0 719,000 312.609 2014
3010 ELIZABETH ST # 3012 2340 5 4 0 700,000 299.145 2010
3379 Day Avenue # 3379 2300 3 3 0 699,900 304.304 2014
3441 SHIPPING AV # 0 3354 3 2 1 699,000 208.408 2015
3243 PERCIVAL AV # 0 2592 3 3 1 689,000 265.818 2014
3241 PERCIVAL AV # 0 2592 3 3 1 689,000 265.818 2014
3115 HIBISCUS ST # 3115 2291 3 2 1 599,900 261.851 2012
3110 OHIO ST # 3110 2400 3 2 1 589,000 245.417 2006
3045 HIBISCUS ST # 3045 1,922 3 2 1 549,000 285.639 2008
3045 HIBISCUS ST # 3047 1,922 3 2 1 549,000 285.639 2008
3275 PERCIVAL AV # 1 2612 4 3 0 548,000 209.801 2007
3056 NEW YORK ST # – 2134 3 2 1 545,000 255.389 2007
3078 NEW YORK ST # 3078 2347 3 2 0 500,000 213.038 2007

Closed Sales (last 12 months):

Address Sq Ft #Beds #FB #HB List Price Sale Price SP$/SqFt Date Sold YR
3373 Day Avenue # 3373 2300 3 3 0 699,900 690,000 300 12/5/2014 2014
3227 MARGARET ST ST # 3227 2521 3 2 1 579,000 550,000 218.167 11/16/2014 2007
3058 NEW YORK ST # 3058 2134 3 2 1 545,000 525,000 246.017 11/6/2014 2007
3034 ELIZABETH ST # N 2164 3 2 1 489,000 400,000 184.843 9/30/2014 2005
3060 INDIANA ST # 3060 3025 3 2 1 725,000 695,000 229.752 8/18/2014 2006
3072 NEW YORK ST # 3072 2347 3 2 1 589,000 560,000 238.602 8/11/2014 2007
3191 OHIO ST # N/A 3858 6 4 2 975,000 925,000 239.762 7/24/2014 2007
3168 OHIO ST # 3168 2121 3 2 1 522,000 495,000 233.38 7/7/2014 2006
3063 INDIANA ST # 16 2350 3 2 1 650,000 630,000 268.085 6/24/2014 2006
3407 DAY AV # 0 3800 3 2 1 699,000 679,000 178.684 6/23/2014 2014
3409 DAY AV # 0 3800 3 2 1 699,000 679,000 178.684 6/23/2014 2014
3318 DAY AVE # 10 2400 3 2 1 525,000 525,000 218.75 5/29/2014 2013
3318 DAY AVE # 8 2400 3 2 1 499,000 499,000 207.917 5/23/2014 2013
3411 DAY AV # 3411 2232 3 2 1 535,000 517,000 231.631 5/21/2014 2008
3318 DAY AVE # 1 2400 3 2 1 525,000 525,000 218.75 5/20/2014 2013
3318 DAY AVE # 6 2400 3 2 1 525,000 525,000 218.75 5/16/2014 2013
3318 DAY AVE # 5 2400 3 2 1 525,000 525,000 218.75 5/16/2014 2013
3318 DAY AVE # 3 2400 3 2 1 499,000 499,000 207.917 5/15/2014 2013
3318 DAY AVE # 9 2400 3 2 1 518,000 518,000 215.833 5/14/2014 2013
3318 DAY AVE # 4 2400 3 2 1 499,000 499,000 207.917 5/14/2014 2013
3318 DAY AVE # 2 2400 3 2 1 499,000 499,000 207.917 5/9/2014 2013
3318 DAY AVE # 7 2400 3 2 1 499,000 480,000 200 5/8/2014 2013
3148 OHIO ST # 3148 2206 3 2 1 439,000 439,500 199.229 4/10/2014 2007
3142 OHIO ST # 3142B 2400 3 2 1 589,900 579,000 241.25 3/31/2014 2006
3250 DAY AV # 3250 4505 3 2 1 549,000 522,500 115.982 3/1/2014 2008

 

Just Rented with Option to Buy: Coconut Grove Townhouse

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3103 Oak Ave., Coconut Grove, FL 33133
3 beds/2.5 baths | 2,200 sf | built in 2004 | rented for $3,800/month

You may recall that I recently listed this townhouse in Center Coconut Grove, and I’m pleased to inform you that the property just closed!  Although the property was originally listed for sale, the owners ultimately decided to also list it for rent due to the short time frame in which they were closing on their new home.  Their hope was that this would increase the number of prospects for the property and thus provide them with the cash they needed for their new purchase.  The perfect solution? A lease with an option to buy!  We ended up finding a couple that was in the process of selling their own home and looking to relocate to the Grove.  They needed to be out of their house quickly, but they weren’t prepared to buy a new house in that short amount of time.  As a result, they entered into a lease for $3,800/month and paid a non-refundable deposit for an option to buy the house within a certain number of months and at an agreed-upon price (I cannot disclose the sales price until the property closes, assuming the renters exercise the option to buy).  This type of transaction is not all that common, but in this case, it was an ideal arrangement for all of the parties!

If you are interested in buying or selling a home, you need an experienced Realtor that thinks outside the box and can help you navigate through the tricky terrain of home buying and selling.  I am your Coconut Grove resident specialist and I also work in the surrounding neighborhoods including Pinecrest, Coral Gables, South Miami, Brickell/Downtown Miami and Miami Beach.  I would love the opportunity to work with you – contact me today at 305.799.2124 or lindsayrubens@avatarflorida.com for a confidential discussion about buying or selling a home in Miami!

Lindsay Loves…Brickell Magazine!

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Brickell Magazine | November 2014

If you live in Brickell or the surrounding neighborhoods, you’ve likely come across Brickell Magazine.  Well, be sure to check out the November ’14 issue (as well as the upcoming December and January issues) where you can spot my new ad (above an adorable, sleepy-eyed dog, of course!).  In fact, you can even check out the digital issue right here: http://tagupload.com/digital/BM/11_14/files/1.html.

The November issue is all about “Ode to Home” (how apropos!).   Jorge Arauz, Editor-in-Chief, writes:

“Invite someone into your home and they’ll have a pretty good idea of the type of person you are.  There are few things more special (and personal) than having guests drop in for a visit.  Where we choose to live, and the things we decide to surround ourselves with on a daily basis, gives a lot of insight into who we are, our interests and our beliefs.  I’ve been inside homes with no family portraits on the walls and I’ve been to homes where happy images of loved ones are blown-up to wall-size proportions.  I’ve seen homes where the furniture and layout is worked around an extensive art collection and I’ve been to places that don’t have a single piece of art on display.  Whether your house is big or cozy, cluttered or organized, modern or traditional, colorful or stark white, it serves as a canvas of sorts that gives the rest of the world a bit of insight into who you are and what matters to you.  And that’s really what it comes down to: Your home is an extension of you.  And that’s something we should all be proud of.”

What does your home say about you?

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Reduced! – 3103 Oak Ave., Coconut Grove

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3103 Oak Ave., Coconut Grove, FL 33133 | 3 bedrooms/2.5 bathrooms | 2,200 sf | Built in 2004 | Room for a pool | Asking $639,000

You may recall that I recently listed this townhouse in Center Coconut Grove for sale.  Well, the seller is serious about selling it – quickly – and just reduced the price to $639,000 (the original asking price was $669,000).  It’s a beautiful home with 3 bedrooms, 2.5 bathrooms, 2,200 square feet of living space, and a fenced backyard with room for a pool (see renderings below).  The home features marble floors throughout the living areas and bamboo wood in the bedrooms, a luxurious master suite with a built-out, walk-in closet and double sinks in the bathroom, and 1 car garage.  The driveway is made of beautiful Chicago brick pavers and the house is gated for extra privacy and security.

The owners made a handful of modern updates to the property, including resurfacing the kitchen cabinets, adding a counter-depth refrigerator and new kitchen faucet, opening up the enclosed staircase and adding a modern railing, installing a “Nest” thermostat (which is motion-sensor, learns your habits and can be controlled from your smartphone!) and installing beautiful, modern light fixtures.  The location on Oak Avenue can’t be beat – you’re directly across the street from the tennis courts at Kirk Munroe Park and Coconut Grove Elementary School, and walking distance to everything Center Grove has to offer! – schools, cafes, shops, farmer’s markets, and more!

The owners will be holding an Open House all weekend from 12:00pm – 3:00pm on Saturday and Sunday – stop by with your friends and family to check out the house in person!  You can always contact me directly at 305-799-2124 or lindsayrubens@avatarflorida.com for more information or to schedule a private showing.

To see all the photos, see my original “Just Listed” post, here.  You can also view the Multiple Listing Service (MLS) report, here.

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Rented in One Week: Large Family Home in Pinecrest!

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5900 SW 114 Terrace | 4 bedrooms/4 bathrooms | 3,219 sf | 40,380 sf lot
Rented price: $5,250/month

When I listed this Pinecrest home for rent earlier this month, it caused an absolute frenzy.  Within minutes, my phone was ringing off the hook and my inbox was flooded with inquiries and showing requests.   A couple days later, we received multiple offers for the property and ultimately, one lucky family got the house.

The home has 4 bedrooms, 4 bathrooms, 3,219 square feet of living space and sits on a beautiful, lush, 40,380 sf lot.  The property is located on a quiet street at 114th Terrace between Red Road and 60th Ave, and is surrounded by a mix of older homes and brand new McMansions.  It rented for $5,250/month.

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Families love Pinecrest because of its neighborhood feel, beautiful parks and A-rated schools.  There is clearly high demand for these types of homes (both rentals and resales), so if you are thinking about selling or renting out your home, contact me today for a confidential discussion. You can call me at 305.799.2124 or send me an email at lindsayrubens@avatarflorida.com.