8432 SW 163 TER, Palmetto Bay, FL 33157

8432 SW 163 TER, Palmetto Bay, FL 33157 is a 4-bedroom, 3-bathroom residential - single family : 1 unit built in 1993 with 2,895 square feet of living space on a 15,006 square foot lot. The property is currently owned by VICTOR SPENCE &W PHYLLIS, 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 1993-11-01 for $238,300. The 2025 assessed value is $426,040 with a market value of $974,209. This breaks down to $495,198 for the land and $479,011 for the building.

The assessed value increased 3% from $414,034 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 $160,809, and the median home value is $724,500. The population density is 4,676 people per square mile.

There are active mortgage liens totaling $313,343 recorded against this property. 8432 SW 163 TER, 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 current assessed value represents 179% 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 $82 per square foot — a key metric for comparing value across Palmetto Bay's real estate market..