Miami Neighborhoods to Watch in 2018: Keystone Point
Keystone Point will be one of Miami’s emerging neighborhoods in 2018
Today I was driving with clients around Keystone Point. An amazing gated community with beautiful homes just north of the Miami Shores. The community offers many waterfront homes, which are located on canals with direct access to the bay. Especially for buyers looking for waterfront homes in Miami, I would recommend considering this community. Whereas other desired Miami neighborhoods see waterfront homes selling from the $1,5M/$2M range, the entry level is much lower in Keystone Point. Always looking for great deals and new emerging neighborhoods, I am very positive about the future of Keystone Point homes for sale. As buyers are getting more and more price conscious and Miami’s “hot” neighborhoods are expanding beyond the standard areas such as the Grove and the Gables, we will see more buyers looking for waterfront homes in Keystone Point.
The Average Keystone Point for Sale
Most Keystone Point homes offer between 3 and 6 bedrooms with interior spaces ranging from 1,600 to 7,000+ SF on lots that vary between 6,000 and 22,000+ SF. Many of these homes have been built in the 50s or 60s, but remodeled or redesigned to represent today’s luxury and comfort. In 2017 the most affordable 3 bedroom Keystone Point home was sold for $390,000. The 2,016 SF home, located on a 9,825 SF lot sold for less than $200 per SF. The best priced waterfront property sold for $650,000. This 2,456 SF home located on a 12,341 SF lot sold for $265 per SF. Even though the home needed massive renovation, this is just a fraction of what a tear-down on a waterfront lot would cost in other desired Miami neighborhoods.
In 2017, on average, Keystone Point homes on dry lots sold for $610,000 or $280 per SF and Keystone Point homes on waterfront lots sold for $1,350,000 or $422 per SF
Spotlight on two Keystone Point Homes for Sale
13050 Arch Creek Ter, Miami
5 Bedrooms | 4 Bathrooms | 3,732 SF | 10,000 SF lot | Listed for $1,700,260
With an asking price of $455 per SF this is one of the best priced waterfront homes in the area. Waterfront for $400/$500 per SF is something that is not easy to find in other Miami neighborhoods
2330 Magnolia Dr, Miami
5 Bedrooms | 4 Bathrooms | 3,375 SF | 9,375 SF lot | Listed for $1,950,000
With an asking price of $578 per SF this is a completely remodeled and contemporary home with a 60′ brand new dock (park up to 75’ boat).