24410 SW 120th Ave, Homestead, FL 33032

Sprawling Homestead Estate: A Prime Opportunity in a Buyer’s Market!

Asking Price: $640,000

Step into luxury and space with this magnificent 3-bedroom, 2-bathroom single-family home located at 24410 SW 120th Ave, Homestead, FL 33032. Built in 1981, this expansive residence boasts an impressive 2,718 sqft of living space on a substantial 1+ acre fenced lot with over 60 fruit trees (avocado, mango, mamey, lemon, and more). With an estimated refinance payment of $5,122/mo, this property offers a compelling blend of spacious living, outdoor amenities, and potential in Homestead’s current real estate landscape.

Key Features & Exceptional Amenities:

• Massive Living Space: At 2,718 sqft, this 3-bedroom home offers an unusually large amount of interior living space, providing ample room for comfortable living and entertaining.
• Expansive & Lush Grounds: The property sits on over an acre of fenced land, a rare find, and features a prolific fruit grove with more than 60 fruit trees. This offers a private oasis for enjoyment and potentially a source of fresh produce.
• Resort-Style Outdoor Living: The home boasts a modern heated pool with a salinator system, surrounded by a huge terrace/outdoor kitchen and gazebo. This setup is ideal for year-round outdoor entertainment and relaxation.
• Renovated Interiors: Previous listings indicate this home has been fully renovated with beautiful porcelain flooring, a modern kitchen with stainless steel appliances and quartz countertops, and updated bathrooms. It also features impact windows and doors and a six-year-old roof, enhancing safety and energy efficiency.
• Ample Parking & Storage: With 3 detached carport spaces and plenty of open parking, there’s ample room for vehicles, boats, RVs, and other toys. The property also includes sheds for additional storage.
• Energy Efficiency: The presence of solar panels (mentioned in similar nearby listings) suggests potential energy savings, and the impact windows/doors further contribute to efficiency.
• Homestead Market Dynamics (33032 Zip Code):
  • Buyer’s Market: Homestead is currently a Buyer’s Housing Market, meaning there’s more inventory than demand, providing buyers with leverage.
  • Price Trends: While the overall median sold price in Homestead was up 2.6% year-over-year in May 2025 to $471,050, the median sold price for 3-bedroom homes in Homestead specifically decreased by 1.2% year-over-year to $425,000. This property’s asking price of $640,000 is higher than the median for 3-bedroom homes in the area, which is likely justified by its significantly larger size, extensive land, and high-end amenities (pool, outdoor kitchen, fruit trees, renovations).
  • Negotiation Potential: A significant 56.1% of homes in Homestead sold below asking price last month, and homes in the 33032 zip code sold for approximately the asking price on average. This suggests there might be some room for negotiation, though the unique features of this property may limit it.
  • Days on Market: Homes in 33032 are on the market for an average of 73 days, providing buyers a reasonable timeframe.
• No HOA Fees: Public records and similar nearby listings suggest this property is likely in a neighborhood with no Homeowners Association, meaning no recurring HOA fees, which contributes to lower overall ownership costs. This is a significant advantage, especially with the ability to store large recreational vehicles.
• Property Tax History: Public tax records show a 2024 tax bill of $9,933 on an assessed value of $585,188. In 2023, taxes were $8,913 on an assessed value of $530,757. Buyers should factor these annual costs into their budget.

Homestead Location & Amenities:

• Southern Miami-Dade County: Homestead is a vibrant city located in southern Miami-Dade County, known for its agricultural roots, proximity to national parks, and developing suburban areas.
• Outdoor & Nature Access:
  • Everglades National Park & Biscayne National Park: Easy access to two major national parks, offering abundant opportunities for hiking, kayaking, wildlife viewing, and exploring unique ecosystems.
  • Local Parks: Princetonian Park (2 min drive), William Randolph Community Park (5 min drive), and Historical Cauley Square (5 min drive) are nearby.
• Convenient Access: Located close to major highways and expressways, facilitating commutes to other parts of South Florida.
• Shopping & Dining: Homestead offers a variety of supermarkets, shopping centers, and dining options.
• Transportation: Miami International Airport is approximately a 37-minute drive. Local bus stops are within a 6-minute walk.
• Schools (Miami-Dade County Public Schools):
  • Coconut Palm K-8 Academy (PK-8, assigned, 0.4 mi away, 4/10 GreatSchools Rating)
  • Redland Middle School (6-8, assigned, 4.1 mi away, 4/10 GreatSchools Rating)
  • Homestead Senior High School (9-12, assigned, 7.6 mi away, 5/10 GreatSchools Rating)
  • Note: While some public schools are moderately rated, Homestead also offers highly-rated magnet and charter schools like School for Advanced Studies – Homestead (A+ on Niche) which are worth exploring for families.

Important Considerations:

• Flood Risk (Severe): This property has a “Severe” Flood Factor, and its flood risk is increasing. The City of Homestead is entirely vulnerable to flooding. While specific flood zone (e.g., AE, X) is not explicitly stated for this address, properties in Homestead can be in Special Flood Hazard Areas (SFHA), where mandatory flood insurance is required. Buyers must consult the official FEMA Flood Map Service Center (MSC) for 24410 SW 120th Ave, Homestead, FL 33032, to determine the exact flood zone and understand mandatory flood insurance requirements and associated costs. The City of Homestead participates in the Community Rating System (CRS) to reduce flood risk, which can help with insurance premiums.
• Climate Risks: Homestead faces an “Extreme” Heat Factor (7 days above 104°F this year) and an “Extreme” Wind Factor (extreme risk of severe winds over the next 30 years). Buyers should ensure their homeowner’s insurance adequately covers potential hurricane and wind damage.
• Septic System & Well Water: The property utilizes a septic tank for sewer and a well for water. Buyers should ensure these systems are in good working order and factor in any potential maintenance.
• Property Condition (While Renovated): While recently renovated, a 1981-built home should still undergo a thorough inspection to ensure all systems are functioning properly and there are no hidden issues.

This expansive estate at 24410 SW 120th Ave offers a unique blend of spacious indoor and outdoor living, modern amenities, and a desirable location in Homestead. For buyers seeking a private oasis with room to grow and entertain, this property represents a significant opportunity in South Florida.

Priced at $640,000 – experience the best of Homestead living! Schedule your private showing today.