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    AI-Generated Neighborhood Summary

    Location and Crime Rate

    1276 NW 71st St, Miami, FL 33147 is situated in the Liberty City neighborhood. This area is part of Miami-Dade County. Historically, Liberty City has grappled with higher crime rates compared to other parts of Miami. However, efforts have been made to improve safety through community programs and increased police presence.

    School District and Nearby Amenities

    The property falls under the Miami-Dade County Public Schools district. The ratings for schools can vary significantly, so it’s advisable to check specific schools for updated performance scores. The area offers several amenities including local parks, community centers, and grocery stores. Tourist attractions like Wynwood Walls and the Miami Design District are a short drive away, offering cultural experiences and shopping.

    Income, Nearby Neighborhoods, and Job Growth

    The average household income in Liberty City is generally lower than in other Miami neighborhoods, reflecting its ongoing economic challenges. Nearby neighborhoods like Wynwood and Little Haiti may show varied income levels, often higher due to recent developments and gentrification. Job growth in the area is gradually improving, with new businesses, art galleries, and tech startups contributing to the economic landscape. Miami's city center is approximately 6 miles away, making it accessible for additional opportunities and amenities.

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    Neighborhood Insights
    Key metrics about this location

    Neighborhood Summary

    Nestled in an area rich with culture and history, this neighborhood presents a unique blend of challenges and opportunities for potential homebuyers and real estate professionals. With a median home price of $209,300, it offers an affordable entry point into the housing market when compared to the national average, which hovers around $375,000. However, a deeper dive into the neighborhood’s demographics reveals complexities that warrant careful consideration. The median household income stands at $24,500, significantly below the national average of approximately $70,000, highlighting economic challenges that are further emphasized by a poverty rate of 45%. These figures suggest a community that may be struggling economically, with limited disposable income and investment potential.

    The rental market offers a silver lining with a median contract rent of $286, presenting an extremely affordable option compared to the national median rent, which is around $1,100. Despite this affordability, the rental market is more prevalent than ownership, as 56% of residents rent their homes while only 20% are homeowners. This is coupled with a concerning 24% of vacant housing units, indicating potential for property value stagnation and possible disinvestment. The unemployment rate here is notably high at 12%, compared to a national rate of around 4%, and only 4% of residents hold a college degree, which may pose challenges in attracting higher-paying job opportunities.

    Socially, the neighborhood has a predominantly Black population, which enriches the community's cultural landscape but also reflects broader socio-economic disparities. Only 18% of households are married-couple families, which is lower than the national average of about 50%, indicating a higher prevalence of single-income households. A positive aspect is that 33% of owners are living without mortgages, providing some financial stability. However, for those with mortgages, 31% allocate 30% or more of their income towards housing costs, a considerable financial burden that aligns closely with national figures.

    In light of these challenges, individuals seeking more favorable metrics while maintaining a similar price point might consider exploring alternative neighborhoods nearby. Areas that offer similar home prices but with higher median incomes, lower unemployment rates, and more prevalent home ownership could provide a more balanced investment environment. Given these insights, potential buyers and investors are encouraged to weigh these factors carefully, considering both the potential for growth and the inherent risks associated with such economic landscapes. This neighborhood holds promise for those ready to invest in communities on the cusp of revitalization while providing social and economic support.

    Median Home Price

    $209,300

    Walk Score

    -

    Bike Score

    -

    Median Household Income

    $24,500
    Nat'l Avg: $69,021

    Percent Under Poverty

    45%
    Nat'l Avg: 12%

    Median Contract Rent

    $286
    Nat'l Avg: $988

    Owners vs Renters

    20% / 56%
    Nat'l Avg: 57% / 31%

    Vacant Housing Units

    24%
    Nat'l Avg: 11%

    Unemployment Rate

    12%
    Nat'l Avg: 3%

    College Degree

    4%
    Nat'l Avg: 21%

    Dominant Race

    Black
    Nat'l Avg: 68%

    Married-Couple Families

    18%
    Nat'l Avg: 48%

    Owners Without Morgages

    33%
    Nat'l Avg: 38%

    Mortgage ≥ 30% Income

    31%
    Nat'l Avg: 27%

    Rent ≥ 30% Income

    N/A
    Nat'l Avg: 46%

    Non-US Citizens

    9%
    Nat'l Avg: 7%
    Location Map
    Overview of the neighborhood
    Nearby Places
    Essential locations and points of interest in the area

    Gwen Cherry Park

    0.5 miles

    Jackson Memorial Hospital

    3.5 miles

    Presidente Supermarket

    1.2 miles

    Chef Creole

    0.9 miles

    UFC Gym Miami

    4.0 miles

    Miami International Airport

    6.8 miles

    Miami Northwestern Senior High School

    1.5 miles

    Miami-Dade County Fair & Expo

    5.5 miles

    Northside Station

    Metrorail

    Neighborhood Assessment
    Key advantages and considerations for this area

    Dynamic Insights

    The property at 1276 NW 71st St, Miami, FL 33147, experienced a significant price increase from $217,000 in August 2024 to a listing price of $480,000 in February 2025, reflecting a 121.2% appreciation over six months.
    Property taxes for 2023 were $4,940, based on an assessed value of $213,100, indicating a substantial increase from previous years, with 2022 taxes at $4,373 and 2021 taxes at $587.
    The property underwent significant renovations, including a new roof, updated plumbing, electrical systems, and A/C, contributing to its increased market value and appeal.
    The surrounding Liberty City neighborhood has seen a trend of rising property values, with comparable homes selling between $335,000 and $480,000 in late 2024, suggesting a strong local real estate market. These insights highlight the property's rapid appreciation, increased tax assessments, recent renovations, and the area's robust real estate market.

    Custom Narratives

    The average home value in Liberty City is $409,427, reflecting a 5.3% increase over the past year.
    Liberty City is a buyer's market, with homes typically selling after 50 days on the market.
    The neighborhood has a diverse community, with 56% African American and 40% Hispanic residents.
    Liberty City offers a variety of local eateries, parks, and cultural centers, enhancing its appeal to residents. These insights provide a snapshot of Liberty City's real estate market and community attributes.

    Green Flags

    Convenient access to local amenities
    Vibrant cultural diversity
    Proximity to parks and green spaces
    Growing community atmosphere

    Red Flags

    Higher crime rates in the neighborhood
    Traffic congestion during peak hours
    Older infrastructure in some areas
    Limited parking availability on streets
    Flood Risk Assessment
    FEMA flood zone information and historical flooding data

    Flood Zone

    Flood zone information is not available for this property at this time.

    Historical Flooding

    Historical flood damage records are not available for this property.

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