Price Check
How this price compares
- List price
- $449,000
- Price per sq ft
- $1,004
- Original price
- $490,000
- Days on market
- 229
This condo in 501 First Residences is listed at $449,000, or $1,004 per square foot. The asking price has come down 8.4% from its original $490,000. It has been on the market for 229 days.
Estimated monthly payment
$2,360 /mo
Principal and interest only, based on $89,800 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance, and the $657/mo HOA are not included.
Customize this estimateListing Snapshot
- Price
- $449,000
- Days on Site
- 229 Days
- Bedrooms
- 0
- Total Baths
- 1
- Full Baths
- 1
- Living Area
- 447 sqft
- Year Built
- 2025
- Property Type
- Condo
- MLS #
- A11961922
- HOA Fees
- $657 / Monthly
- Subdivision
- 501 First Residences
- County
- Miami Dade
- Status
- Active
- Special Conditions
- Listed As Is
About This Property
Unit 807 Studio Turnkey investment opportunity at 501 First Residences, a modern Downtown Miami building allowing daily rentals with no minimum restrictions—ideal for short-term rental investors. Unit 807 is a well-designed studio residence offering 447 SF (42 m²) with an efficient open layout, floor-to-ceiling impact windows, and a private balcony providing natural light and urban city ambiance. Delivered fully furnished with blinds and sofa bed, this unit is ready for immediate rental income. The residence also includes a storage provided by the association, adding additional convenience and flexibility for owners and guests. 501 First Residences offers resort-style amenities, co-working spaces, fitness center, social lounges, and prime walkability to Miami Worldcenter, Brightline Station, Bayfront Park, dining, entertainment, and major transportation corridors. An ideal plug-and-play investment in one of Miami’s fastest-growing short-term rental markets.
MLS media linkGeneral Features
- Property Type
- Condo
- Status
- Active
- Year Built
- 2025
- Property Condition
- New Construction
- New Construction
- Yes
- Number of Stories
- 40
- Garage Spaces
- 0
- Direction Faces
- South
- Living Sq Ft
- 447
Interior Features
- Appliances
- Dryer / Dishwasher / Disposal / Microwave / Refrigerator / Washer
- Cooling
- Central Air
- Heating
- Central
- Flooring
- Ceramic Tile
- Interior Features
- Bedroom On Main Level / Separate Shower
- Furnished
- Furnished
Exterior Features
- Construction
- Block
- Exterior Features
- Outdoor Living Area
- Pool Features
- Association
- Patio & Porch
- Patio
- View
- Skyline
Community & HOA
- HOA Fee
- $657 / Monthly
- HOA Includes
- Cable Tv / Hot Water / Internet / Water
- Association Amenities
- Community Kitchen / Fitness Center / Maintenance Grounds / Pool
- Security
- Security System / Elevator Secured / Lobby Secured
- Utilities
- Cable Available
- Pets Allowed
- Pet Restrictions / Yes
- Financing Terms
- Cash / Conventional
- Restrictions
- Ok To Lease / Short Term Rentals Allowed
- MLS Area
- 2410
This home's HOA fee works out to $657 a month, in line with the $674 median across 33 homes for sale in 501 First Residences. See 501 First Residences HOA fees
Schools
- Elementary School
- Frederick Douglass
- Middle School
- Jose De Diego
- High School
- Booker T. Washington
About the Community
501 First Residences is a community in Miami, Miami-Dade County, Florida. Active listings are priced from $375,000 to $995,000. Homes were built between 2025 and 2026. Pure Equity lists homes in 501 First Residences and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 33
- Under Contract
- 1
- Median List Price
- $500,000
- Median $/Sq Ft
- $1,091
- Avg Days on Market
- 120
Frequently Asked Questions
- How do I schedule a tour of 121 NE 5th Street 807, Miami, FL 33132?
- Use the Tour button on this listing to request a showing of 121 NE 5th Street 807, Miami, FL 33132. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 121 NE 5th Street 807, Miami, FL 33132 still available?
- 121 NE 5th Street 807, Miami, FL 33132 is currently listed as Active, and has been on the market 229 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 121 NE 5th Street 807, Miami, FL 33132?
- With 20% down ($89,800) on the $449,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 121 NE 5th Street 807, Miami, FL 33132 is about $2,360/mo, before property taxes, insurance, and HOA dues. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 121 NE 5th Street 807, Miami, FL 33132?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 121 NE 5th Street 807, Miami, FL 33132. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- Does 121 NE 5th Street 807, Miami, FL 33132 have an HOA fee?
- Yes: 121 NE 5th Street 807, Miami, FL 33132 carries an HOA fee of about $657 monthly. HOA dues usually cover community amenities and shared maintenance; ask us for the current budget, rules, and exactly what's included.
- What schools serve 121 NE 5th Street 807, Miami, FL 33132?
- 121 NE 5th Street 807, Miami, FL 33132 is zoned for Frederick Douglass (elementary), Jose De Diego (middle), Booker T. Washington (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 121 NE 5th Street 807, Miami, FL 33132?
- Often, yes. The right offer on 121 NE 5th Street 807, Miami, FL 33132 depends on how it's priced against comparable condo sales in Miami, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Optimar International Realty
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 23, 2026.
$449,000
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Listed by Ginna Rojas, Optimar International Realty
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Recent Sales
Recently sold homes in 501 First Residences
These are the last 2 recorded closings in 501 First Residences, with the price each home actually sold for rather than what it was listed at. They closed at a median of $854 per square foot. The most recent closed on August 25, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$370,000
Sold · August 25, 2026
121 NE 5 Street 801B
0 bed · 1 bath
$25,000 under the asking price
Sold$391,000
Sold · July 9, 2026
121 NE 5th Street 912B
0 bed · 1 bath · 458 sqft · $854/sqft
$23,500 under the asking price
See every recorded sale in 501 First Residences or find out what your 501 First Residences home is worth.
