4861 NW 5th St, Plantation, FL 33317

Spacious & Charming Family Home in Plantation: Exceptional Value & Potential!

Discover this inviting 3-bedroom, 2-bathroom single-family home located at 4861 NW 5th St in the highly desirable community of Plantation, FL 33317. Built in 1961, this generously sized residence offers a substantial 2,007 sqft of living space, providing ample room for comfortable family living, entertaining, and potential for personalization.

This property presents a remarkable opportunity at $449,900, especially when considering the current Plantation real estate market. Its larger square footage for its price point makes it an attractive find for buyers seeking space and value.

Property Highlights:

• 3 Bedrooms / 2 Bathrooms: A practical and sought-after configuration for families.
• 2,007 sqft: Enjoy expansive interior living space, offering versatility for various layouts.
• Built in 1961: A solid, established home with good bones, offering the perfect canvas for your modern updates and personal style.
• Estimated Refinance Payment: $3,949/mo: Highlighting potential financing accessibility.
• Priced at $449,900: This price point represents excellent value in Plantation, particularly for a home of this size.

Plantation (33317) Market Insights (as of May 2025 data):

The Plantation housing market, and specifically the 33317 zip code, is currently a Balanced Market or Somewhat Competitive, with indications that buyers have increasing leverage. Home prices are up year-over-year, but properties are taking longer to sell, and buyers are seeing more opportunities for negotiation.

• Median Sold Price (Plantation Overall): In May 2025, the median sale price for all homes in Plantation was $540,000, up 2.9% year-over-year.
• Median Sold Price (33317 Overall): The median sale price in the 33317 zip code was $541,000, down 5.1% compared to last year.
• Median Price for 3-Bedroom Single-Family Homes (Plantation): The median price for 3-bedroom single-family homes across Plantation was $455,000 in May 2025 (up 2.2% year-over-year). This property’s list price of $449,900 is directly in line with or slightly below this median, representing a competitive offering for a home of this size. For the 33317 zip code specifically, the median listing home price was $547.5K, indicating this home is priced very favorably.
• Days on Market: Homes in Plantation sold after an average of 89 days on the market in May 2025 (up from 52 days last year). For the 33317 zip code specifically, homes sold after an average of 81 days (up from 50 days last year). This increased time on market provides buyers with more time for consideration and due diligence.
• Negotiation Potential: On average, homes in Plantation sell for about 4% below list price, and 29.2% of homes had price drops in May 2025. This indicates that buyers do have negotiation leverage.
• Inventory: While specific inventory numbers for 3-bed, 2-bath homes in 33317 are not explicitly detailed, there were 187 homes for sale in 33317 in May 2025, with overall inventory increasing, providing a good selection for buyers.

Key Considerations for Buyers in Plantation, FL:

• Closing Costs: Buyer closing costs in Florida typically range from 2% to 5% of the purchase price. For a $449,900 home, this could be approximately $8,998 to $22,495. These costs include items such as title insurance, documentary stamp taxes, appraisal fees, and recording fees.
• Home Insurance: Florida homeowners insurance rates are generally higher than the national average due to hurricane risk. For Plantation, the average annual home insurance cost is around $7,655, though this can vary significantly based on the insurer, home age, construction, and specific coverage (e.g., windstorm deductibles). For a home built in 1961, rates might be on the higher end of the spectrum, potentially exceeding $5,000-$10,000+ annually. Buyers should budget accordingly.
• Environmental Risks (for 4861 NW 5th St, Plantation, FL 33317):
  • Flood Risk: The property has a “Minimal” flood risk according to Realtor.com data, though ClimateCheck indicates a significant chance of a flood over 2 feet deep by 2050 (51% chance). It is highly recommended that buyers consult official FEMA flood maps for the specific address and consider purchasing flood insurance, as standard homeowners’ insurance does not cover flood damage.
  • Wind Risk: There is an “Extreme” risk of severe winds (primarily from hurricanes) over the next 30 years.
  • Heat Risk: Plantation faces an “Extreme” heat risk, with a projected increase in days above 93°F.
  • Wildfire Risk: The property has a “Minimal” wildfire risk.

This property at 4861 NW 5th St offers a fantastic opportunity to own a spacious and well-located home in Plantation. Its attractive price point, generous square footage, and the current buyer-favorable market conditions make it a compelling choice for a primary residence. While environmental risks are a factor in South Florida, due diligence and appropriate insurance can mitigate these concerns.

Don’t miss out on this excellent value in Plantation! Contact us today to schedule a private showing and discuss your financing and insurance options.