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4320 Santa Maria St
Coral Gables, FL

4320 Santa Maria St

$8,475,000
5 bd • 6 ba • 5,506 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$8,475,000

Price/Sq.Ft

$1539

Year Built

1938

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This historic 1926 estate is a rare gem, being one of only five original Coral Gables pioneer village homes. At 8,711 SF, it's 58% larger than the listed 5,506 SF, offering exceptional value. The property boasts prime location overlooking the 15th hole of the Riviera Golf Course, providing scenic views and prestige. Recent upgrades include a renovated gourmet kitchen with luxury appliances, new slate roof, and hurricane shuttering, enhancing both value and safety. The whole-house generator connected to city gas adds significant value, especially given the area's extreme wind risk (10/10). With 5 bedrooms, 6 bathrooms, and a guesthouse, it offers versatile living arrangements. The outdoor amenities, including a pool, manicured gardens, gazebo, and full summer kitchen, create a resort-like atmosphere perfect for entertaining. At $973/sqft (based on 8,711 SF), it's priced competitively compared to the initial $1,539/sqft, representing good value for luxury properties in Coral Gables.

The Bad

The property's age (built in 1926) may require ongoing maintenance and potential system upgrades, despite recent renovations. The extreme heat risk (10/10) could lead to higher cooling costs and potential discomfort during peak summer months. With only a 2-car garage, parking might be limited for a property of this size and potential occupancy. The property's high value ($8,475,000) results in substantial annual property taxes and insurance costs, with estimated insurance alone at $30,510/year. The home's historical status may limit future renovation or expansion possibilities due to preservation requirements. The moderate flood risk (4/10) necessitates flood insurance, adding to annual ownership costs.

The Ugly

The extreme wind risk (10/10) poses a significant threat, potentially leading to very high insurance premiums and the risk of severe damage during hurricanes. This risk, combined with the flood risk, could make insurance costs prohibitively expensive or difficult to obtain. The property's large size and extensive amenities will result in high maintenance costs, potentially exceeding $100,000 annually. The historical nature of the home may reveal unforeseen issues not apparent in modern construction, leading to unexpected and costly repairs. The property's high value makes it susceptible to market fluctuations, as evidenced by its price history showing both significant increases and decreases. The total monthly ownership costs, including mortgage (assuming 20% down at current rates), taxes, insurance, and maintenance, could exceed $60,000, limiting the pool of potential buyers dramatically.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideally suited for high-net-worth individuals or families with annual incomes exceeding $2.5 million, based on traditional mortgage qualification standards. It's perfect for history enthusiasts who appreciate the prestige of owning one of Coral Gables' original homes. Golf lovers will value the prime location overlooking the Riviera Golf Course. The extensive entertainment areas make it ideal for those who frequently host large gatherings or events. With its guesthouse and multiple bedrooms, it's well-suited for multi-generational families or those needing space for live-in staff. Investors looking for a unique, high-end rental property for luxury vacation leases could also find value, given the home's historic status and amenities.

Not For

This property is not suitable for first-time homebuyers or those with household incomes below $1 million due to the high purchase price and ongoing costs. It's impractical for small families or couples who don't need extensive space, as the maintenance and utility costs would be disproportionate. Buyers seeking a low-maintenance lifestyle should look elsewhere, as the property's size, age, and amenities require significant upkeep. Those uncomfortable with the risks associated with coastal Florida living (hurricanes, flooding) should consider properties in less vulnerable areas. Investors looking for high rental yields will find better opportunities with more moderately priced properties in the area.
Demographics
Area Median Income

$116,312

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Risk Assessment

Climate Risks

heatEXTREME

7 extreme heat days per year

98th percentile: 104°F

windEXTREME

Insurance: Required

floodMODERATE

FEMA Zone: X_UNSHADED

Insurance: Recommended

airMINOR

1 bad air quality days per year

fireMINIMAL

Insurance: Optional

Risk Analysis

The extreme wind risk (10/10) is the most significant concern, potentially leading to annual insurance costs well above the estimated $30,510, possibly reaching $50,000-$70,000 or more. The moderate flood risk (4/10) compounds this, necessitating additional flood insurance. The property's historical status may lead to costly maintenance issues and strict renovation restrictions, potentially affecting future value appreciation. Market volatility is evident in the property's price history, with fluctuations of over 200% since 2009, indicating potential for significant value swings. The home's age (97 years) suggests a high likelihood of major system replacements (plumbing, electrical, HVAC) in the near future, each potentially costing $50,000-$100,000 or more. Climate change could exacerbate both flood and heat risks over time, potentially increasing insurance costs and decreasing comfort. The luxury market in Coral Gables may be subject to economic downturns, potentially affecting resale value and time on market.
Insurance
Annual Cost

$30,510

$2,543 per month

Financials

Monthly Costs

Price History

Property Taxes

$52,806
2023 Tax Assessment
3.1%from previous year
Assessed Value$2,870,158
Tax Rate1.84%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$3,200,000

-62.2% below list price

Median Price

$3,200,000

Based on 1 recent sales

Price per Sq.Ft

$673

Comparable Properties

4500 Anderson Rd, Coral Gables, FL 33146
Price: $3,200,000
Sq.Ft: 4,752
Beds/Baths: 6/5
$/Sq.Ft:
$67356.3%
Sale Date: 10/26/2024

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