20 days on rocket

398 NE 5th St Unit 2506, Miami, FL, 33132

$680,000

Home List Price

$8,075*

Closing Credit

1 Bedroom
1 Full Bath
443 SqFt
$1,535/SqFt
Condo

Location

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398 NE 5th St Unit 2506, Miami$680,000

Buyer Closing Credits

$8,075*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingOne Space
Garage1 space
Year Built2022
HeatingOther
CoolingCentral Air
WaterfrontOther
ViewOther
MLS #A11684359
StatusActive

About 398 NE 5th St Unit 2506

Investor friendly opportunity at The Elser of Miami. This unique 25th floor studio is ideal for an income producing property or for an owner who wants the hotel vibe for a home. Unit 2506 is enrolled in the hotel program and offers a low HOA with great return. Located on Biscayne bay with breathtaking views. Nightly rentals permitted either through hotel program or 2 other approved vacation rental companies otherwise 181 day min lease required for rentals.

Property Details

Property Features

Property Information:

  • Architectural Style: Other
  • Year Built: 2022
  • Living Area: 443 SqFt

Listing Office:

  • Office Name: London Foster Realty
  • Office Phone: (305) 514-0100
  • Listing Agent: Daniel Mordechai

Interior Features

Interior Information:

  • Flooring Type: Other
  • Interior: Bedroom on Main Level, Bar

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 1

Exterior Features

Exterior Information:

  • Waterfront: Other
  • View: Other
  • Exterior: Security/High Impact Doors

Parking Information:

  • Garage Space: 1 space
  • Parking: One Space

Virtual/3D Tour

  • Virtual Tour: 398 NE 5th St Unit 2506
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Utilities

Utilities Information:

  • Heating: Other
  • Cooling: Central Air

Price Information

Listing Price Info

Price Summary:

  • List Price: $680,000
  • Price Per SqFt: $1,535/SqFt

HOA Fees:

  • Amount: $600
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in Miami, FL.

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Miami, FL

City

Med. Sold Price

$560.4K

Med. Price/SqFt

$389

Avg. Days On Market

60

# of Sold Homes

698

398 NE 5th St Unit 2506 vs Miami

20 DAYS ON ROCKET

-40 Days

$680,000

+$119.5K More

$1,535/SqFt

+$1.1K More

KEY TAKEAWAY

This property is $119.5K more than the Median Sold Price and $1.1K/SqFt more than other homes in Miami, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SEFMIAMI
  • MLS Number: #A11684359

Listing Office:

  • Office Name: London Foster Realty
  • Office Phone: (305) 514-0100
  • Listing Agent: Daniel Mordechai

IDX © 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 3:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$4,061

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,105

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-334856
7
/10

  • Downtown Miami Charter School

  • 305 NW 3rd Ave

  • 0.63 miles

  • Public Charter Grades KG-6

school-card-donut-334857
3
/10

  • Frederick R. Douglass Elementary School

  • 314 NW 12th St

  • 0.81 miles

  • Public District Grades PK-5

school-card-donut-334858
9
/10

  • Miami Children's Museum Charter School

  • 980 MacArthur Cswy

  • 0.90 miles

  • Public Charter Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $21,792. Typical income of Miami, FL residents is less than $35k annually. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 398 NE 5th St Unit 2506

What is the listing price of this property?

The listing price of 398 NE 5th St Unit 2506 property is $680,000.

What type of property is this?

The property 398 NE 5th St Unit 2506 is a condo located in Miami, Florida, 33132.

Is this property for sale now?

Active Listing: 398 NE 5th St Unit 2506 is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 398 NE 5th St Unit 2506 has 1 bedroom and 1 bathroom.

What is the square footage of this property?

The property 398 NE 5th St Unit 2506 is 443 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 398 NE 5th St Unit 2506 is 2022.

Rocket Homes›Florida›Miami-Dade County›Miami›33132›398 NE 5th St Unit 2506

This home is located at 398 NE 5th St Unit 2506 in Miami, FL and zip code 33132 in the Downtown neighborhood. This 443 square foot home was built in 2022. Features: 1 bedroom, 1 bathroom. It has been listed on Rocket Homes since November 01, 2024 and is currently priced at $680,000.

In October 2024, from all listings sold in Miami, FL there were more than 62 sold above asking price, over 507 sold below and more than 129 were sold right at the asked price. The inventory of homes for sale in Miami, FL between September 2024 and October 2024 increased by 8.3%. In October 2024, listings were on the market for 60 days. During the same period, the median list price in this real estate market was $560,436.

From Rocket Homes Real Estate and based on county public records data.

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