16723 SW 78 PL, Palmetto Bay, FL 33157

16723 SW 78 PL, Palmetto Bay, FL 33157 is a 4-bedroom, 3-bathroom residential - single family : 1 unit built in 1992 with 3,535 square feet of living space on a 15,265 square foot lot. The property is currently owned by JOSE A OTANO &W MARTHA, recorded as of 2026-04-19. The owner appears to be owner-occupied based on the mailing address matching the property address.

The most recent sale was on 2000-07-01 for $407,000. The property has appreciated $24,500 (6%) since the prior sale of $382,500 on 1993-03-01. There are 3 recorded sales for this property.

The 2025 assessed value is $602,840 with a market value of $1,109,867. This breaks down to $503,745 for the land and $606,122 for the building. The assessed value increased 3% from $585,851 in 2024.

The property has the following tax exemptions: homestead. This property is located in FEMA Flood Zone AE, a Special Flood Hazard Area with a 1% annual chance of flooding (100-year floodplain). Flood insurance is typically required by lenders for properties in this zone.

The median household income in this area is $216,711, and the median home value is $866,300. The population density is 2,542 people per square mile. There are active mortgage liens totaling $395,482 recorded against this property.

16723 SW 78 PL, Palmetto Bay, FL 33157 is located in Palmetto Bay, Florida. Property records, tax assessments, sales history, and ownership information for this Palmetto Bay property are sourced from miami_dade County public records. The complete ownership history of this property spans from 1990 to 2000, with 3 recorded transactions in the public record.

The current assessed value represents 148% of the most recent sale price. This high ratio could indicate the property was purchased below market value — a potential sign of a distressed sale or off-market deal. Based on the most recent sale, this property traded at $115 per square foot — a key metric for comparing value across Palmetto Bay's real estate market..