Flipping houses in Miami can be a lucrative enterprise—especially in neighborhoods where home prices are down and properties are selling below asking price.
If you “buy the dip” and renovate a property for significantly less than its after-repair value (ARV) with a fix-and-flip loan, you could turn a significant profit when you go to sell.
ABL has helped countless Florida investors execute profitable flips. In this article, we’ll cover the top five up-and-coming neighborhoods for flipping houses in Miami so you can maximize your returns.
Miami Real Estate Market Overview
Located on the southern coast of Florida, Miami is known for its warm weather, scenic beaches, and vibrant culture. It also has a fast-growing real estate market.
Between 2022 and 2023, Miami’s population grew by 1.3%, the tenth-fastest among U.S. cities with at least 250,000 residents. Meanwhile, home values have skyrocketed. In November 2024, the median home sold for $575,000, up 33% from nearly two years earlier.
That said, Miami real estate is experiencing a market correction that may create opportunities for home flippers. As of November 2024, Miami’s median home listing price has fallen 6.30% since last year, homes are selling 3.13% below asking price, and the median days on market (the number of days a home takes to sell) is 76.
What to Look for in a Miami Neighborhood as a Home Flipper
Of course, not every Miami neighborhood has equal flipping potential. To find those with the most opportunity, look for the following:
A Dip In Home Listing Prices
A dip in home listing prices may indicate an opportunity to buy property at a discount. That way, you can maximize your profit if and when home values eventually recover.
A Low Sale-To-List Ratio
The sale-to-list ratio compares home listing prices to actual sales prices. If it’s lower than 1.0, homes are selling below asking price on average, indicating that you can likely negotiate a favorable purchase price.
A Low Median Days on Market
Days on market measures how long it takes a property to sell from the time it’s first listed. A relatively low median days on market can mean a faster resale once the property is renovated.
Your Local ABL Expert
Your local ABL expert can help ensure your flip is a success by providing funding, a professional network, and one-on-one guidance from start to finish.
Now without further ado, here are the top five up-and-coming neighborhoods for flipping houses in Miami:
1. West Flagler
West Flagler is a predominantly residential neighborhood with a mix of single-family homes and small multi-family properties.
The median home listing price is $600,000, down 7.50% from last year. Meanwhile, homes are selling 6.26% below asking price and within 68 days.
| Median Listing Price Change YoY | -7.50% |
| Sale-To-List Price Ratio | 93.74% |
| Median Days on Market | 68 |
2. Golden Pines
Golden Pines is a smaller neighborhood nestled between Coral Gables and Coconut Grove with many charming mid-century homes and tree-lined streets.
The median home listing price is $532,500, down an impressive 37.40% from last year. Meanwhile, homes are selling 3.08% below asking price and within 68 days.
| Median Listing Price Change YoY | -37.40% |
| Sale-To-List Price Ratio | 96.92% |
| Median Days on Market | 68 |
3. Allapattah
Allapattah offers a good mix of residential and commercial property located within minutes of Wynwood and the Atlantic Ocean.
The median home listing price is $475,000, down 2.50% from last year. Meanwhile, homes are selling 5.79% below asking price and within 80 days.
| Median Listing Price Change YoY | -2.50% |
| Sale-To-List Price Ratio | 94.21% |
| Median Days on Market | 80 |
4. Model City
Model City is a residential neighborhood with single- and multi-family properties. It’s also home to Charles Hadley Park, a 29.3-acre park with sports facilities, pools, and a recreation center.
While the median home listing price is up 9% from last year at $519,000, homes are still selling 4.37% below asking price and within 65 days.
| Median Listing Price Change YoY | 9% |
| Sale-To-List Price Ratio | 95.63% |
| Median Days on Market | 65 |
5. Little Havana
Little Havana is primarily a residential neighborhood with some commercial properties. It also includes LoanDepot Park, the home stadium for Major League Baseball’s Miami Marlins.
The neighborhood’s median home listing price is $510,000, down 10.10% from last year. Meanwhile, homes are selling 3.71% below asking price and within 73 days.
| Median Listing Price Change YoY | -10.10% |
| Sale-To-List Price Ratio | 96.19% |
| Median Days on Market | 73 |
Tips for Miami House Flippers
Now that you know the top neighborhoods for flipping homes in Miami, here are some tips to ensure your next Miami flip is a success:
Monitor Local Market Trends
Neighborhoods change over time. To ensure a flip will meet your return goals, carefully monitor key housing trends, such as home demand, supply, and prices.
Do Your Due Diligence
Underestimating renovation costs can ruin a fix-and-flip deal and even lead to losses. That’s why it’s crucial to conduct a thorough home inspection and appraisal before buying a property.
Prioritize Renovations with High ROIs
Not all renovations yield the same return on investment (ROI). According to the 2024 Cost vs. Value report, for example, entry door replacements have the highest ROI in Miami (289.8%).
Get Proper Permits
Before you commit to a flipping project, ensure you have the required Miami construction permits. Some neighborhoods have strict building codes, and ignoring them could be costly.
Work with a Private Lender
Instead of paying cash for a property and renovation costs, consider working with a reputable fix-and-flip lender like Asset Based Lending. Our loan programs will help ensure your financing is available how and when you need it.
Partner with ABL
No matter which Miami neighborhood you target for a home flip, ABL can help. We offer interest-only fix-and-flip loans for as few as zero points and no prepayment penalty. Plus, our local Miami team is here for you every step of the way—from property purchase to resale.
Pre-qualify today with 100% confidentiality, no obligation, and no effect on your credit!
Methodology
To determine the top up-and-coming Miami neighborhoods for home flippers, we ranked nineteen major Miami neighborhoods by the following metrics (as of November 2024):
- Largest year-over-year dip in home listing prices
- Lowest sales-to-price ratio
- Lowest median days on market
Each category was weighted equally to arrive at a composite score. All real estate market data was taken from Realtor.com (unless otherwise cited).
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