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Single Family Residence
$979,000$478 / sqft
241 Palmetto Dr, Miami Springs FL 33166
Listed
3
Bedrooms
2
Bathrooms
2,049 sqft
Interior
1926
Year built
None
HOA
Single Family Residence
Type
About this home
Welcome to Miami Springs! This beautifully updated Old Spanish-style home blends timeless South Florida character with modern improvements. Featuring original Florida pine wood floors and impact windows, the property offers warmth, charm, and functionality in a highly desirable location. The main residence features 3 bedrooms and 2 bathrooms, a bright and inviting living area, and a gorgeous updated kitchen with contemporary finishes. The property also includes a detached boutique cottage/in-law quarters featuring 1 bedroom and 1 bathroom with its own separate meter, providing additional flexibility for extended family, guests, or other permitted uses. Situated on a generously sized .33-acre lot (approximately 14,200 sq. ft.), the property offers exceptional outdoor space and ample room to explore expansion, redevelopment, or the possibility of constructing a larger residence, subject to applicable zoning, building codes, and municipal approvals. Expansive outdoor areas and mature tropical landscaping provide plenty of space for entertaining and enjoying the South Florida lifestyle. Conveniently located in the heart of Miami Springs, near dining, major roadways, Miami International Airport, and everything South Florida has to offer. This unique property combines Old Florida character, modern updates, additional living quarters, a substantial lot, and exceptional versatility in one special package.
Features
- First Floor Entry
- French Doors
- Cottage
- Separate Guest/In-Law Quarters
- Utility Room/Laundry
- Other
Leasing
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 3-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $3,200–$5,100.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.