One of the oldest cities in Miami-Dade, Homestead was incorporated in 1913. This city is squeezed between the Everglades and Biscayne National parks. As of 2013, the population was 64,079. Homestead is mostly an agricultural town and a home to an Air Force reserve base. Its race track, Homestead-Miami Speedway, is the annual finale of the NASCAR Sprint Cup as well as the two minor championships of NASCAR. This town also hosts an annual three day Homestead Championship Rodeo. Homestead is also a home to an amazing SkyDive Miami - Miami Premier Drop Zone, located at Homestead airport.
The drive to downtown Miami is about 35 minutes (close proximity to Turnpike highway and is located on US1 that leads to Key West down south in Monroe county) and prices are more attractive for the investors here. We get deals in Homestead very often and they are mostly very aggressive price points. At this time there are 488 houses offered from $29,000 for a concrete slab ready to be built on to $39,900 for a single family 3/2 with $518 monthly fee for the community and all the up to $3,800,000 for the acreage mansion in the Redland that we will feature separately in our blog.
Homestead also has an amazing array of townhomes and condos ranging from 3/3 bank owned in Naranja for $51,000 to a 4/2.5 over 2000 SQFT townhome for $261,400 in a gated community. Maintenance costs for both properties are just a bit over $100 which is super remarkable.
Such towns as Leisure city, Redland, Florida City and Naranja, Goulds and Princeton are all located closely nit to each other here and often being called Homestead. For the purpose of being more precise, we are planning to differentiate them into different blogs on the www.cashflowinmiami.com site.
Homestead is the solution for the investor that loves buy and hold deals. Here you have choice of properties under $100,000 on the market and not every investor jumps in as it happens in North Miami Beach, for example.
- Zip codes: 33030-33035, 33039,33090,33092