Railway Shops Addn 2nd Am Homes for Sale

Railway Shops Addn 2nd Am is an age-restricted 55+ community in Miami, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $899,900 to $1,800,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Railway Shops Addn 2nd Am and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Railway Shops Addn 2nd Am and the Miami area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 15 Railway Shops Addn 2nd Am Miami homes for sale as of October 2026. The median asking price is $1.19M. Asking prices run from $590,000 to $3.25M.

That is 86% above the Miami median of $639,000. On a per-foot basis, homes here ask about $656 per square foot, compared with $497 across Miami. So the median price buys roughly 1,800 square feet of living area.

Listings here have averaged 117 days on the market. That tracks the Miami average of 138 days, so pricing and terms follow the wider city market.

Homes listed in Railway Shops Addn 2nd Am date from 1925 to 2026. That puts them between 0 and 101 years old.

The range straddles 2002, when Florida adopted its statewide building code. Therefore two similar-looking homes here can carry very different insurance premiums. Ask for the wind mitigation report on any home you consider, since it drives much of that difference.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Railway Shops Addn 2nd Am has new construction. Builders usually require your agent to register you on the first visit, so bring your agent or call us before you walk in.

At a median near $1.19M, Railway Shops Addn 2nd Am sits in the luxury tier of Miami. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in Railway Shops Addn 2nd Am have a median asking rent of $4,750 per month, across 10 active rental listings. For comparison, the Miami median is $3,000, so rents here run 58% higher.

For investors, those medians imply a gross yield near 4.8% a year. However, that figure comes before HOA dues, property tax, insurance and vacancy. Also check the association documents first, because many Florida HOAs cap leases or set minimum terms.

You can browse current Miami rentals or ask us for a rent estimate on a specific Railway Shops Addn 2nd Am home.

Here is what the median Railway Shops Addn 2nd Am price means in Florida closing terms. At $1.19M, a 20% down payment comes to about $238,000, leaving a loan near $952,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $3,332. Next, the intangible tax of 0.2% adds about $1,904. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $7,140 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Railway Shops Addn 2nd Am listings show assignments to Shadowlawn (elementary), Jose De Diego (middle) and Miami Edison (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.