121 NE 5th # 501B, Miami FL 33132, MIAMI, FL, 33132
Active165 days on marketListed Mar 1, 2026MLS #A11974262
About this home
121 NE 5th # 501B, Miami FL 33132
Brand New Luxury Condo at 501 First Miami – No Rental Restrictions! Be the first to own this pristine, newly delivered residence (Unit 501B) in the heart of Downtown Miami. Located in the highly anticipated 501 First Residences, this unit offers the ultimate flexibility with no rental restrictions, making it a premier choice for high-yield short-term rentals (Airbnb/VRBO) or a sophisticated urban lifestyle. Unit Features: Modern open-concept layout with floor-to-ceiling glass windows. Private balcony with stunning city skyline views. Fully finished and furnished with interiors by award-winning SHIM Projects. High-end Smeg appliances and custom Italian cabinetry. In-unit washer/dryer and smart home technology. Building Amenities: Experience over 20,000 SF of world-class amenities, including a 75-foot rooftop lap pool, a state-of-the-art fitness center by HOMAGE, a lush rooftop greenhouse, co-working spaces, and a private movie theater. Strategically located steps away from Miami Worldcenter, Kaseya Center, and the Brightline station. Don't miss this turnkey investment opportunity!
Facts & features
The home at a glance
0
Bedrooms
1
Bathrooms
1
Garage
2025
Year built
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$3,729 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$4,165/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Where it sits
Inside Downtown
Get to know Miami. See the full Miami guide →
Downtown — neighborhood snapshot
Population
24,316
Median age
38
Median income
$108,427
Median home value
$557,583
Avg household
2
Households w/ children
1,166
For the school run
Dade County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Miami market
$508K → $590K
Miami median sold, yr/yr
97.6%
Sale-to-list ratio (12 mo)
Median sold price, Miami, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 16% above the MIAMI 33132 median. See the full Miami market guide →
Paper trail
This home's history
Reality check
What actually sold near 121 NE 5th # 501B
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Jul ’26$391,000
121 NE 5th St # 912B, Miami FL 33132 · same community
0 bd · 1 ba · 458 sqft · $854/sqft · 53 DOM
Sold · Jan ’26$503,000
121 NE 5TH STREET UNIT 0 · same community
1 bd · 2 ba · 597 sqft · $843/sqft · 0 DOM
Sold · Mar ’26$724,000
Nearby listing
1 bd · 2 ba · 0 sqft
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
Yumiko Sugawara
REALTOR® · CENTURY 21 Edge
Tours, negotiation, and every question about 121 NE 5th # 501B — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 121 NE 5th # 501B — before you fall in love.
See it in person
Schedule a tour
Live availability from Yumiko's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
121 NE 5th # 501B FAQs
What would the monthly payment be for 121 NE 5th # 501B, Miami FL 33132?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $3,729/mo — principal and interest, estimated property taxes, the $563/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 121 NE 5th # 501B, Miami FL 33132?+
The association fee works out to $563 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 121 NE 5th # 501B, Miami FL 33132?+
The most recent tax bill on record (2026) was $0. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 121 NE 5th # 501B, Miami FL 33132?+
The listing reports pets: Dogs OK. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Miami?+
At $475,000, this home is listed about 22% below the Miami median of $610,000. The market section on this page shows how the area is trending.
Which schools are assigned to 121 NE 5th # 501B, Miami FL 33132?+
Frederick R. Douglass Elementary (elementary), District Instructional Center (Dic) (), Booker T. Washington Senior High (high), Jose De Diego Middle School (middle), Instructional Center System Wide (), Title I Migrant Education Program () — Dade County School District. Always verify school assignments with the district before relying on them.
The brief
Four things that matter here
01Positioned at the premium end
$475,000 runs 16% above the MIAMI 33132 median.
02None views
The none view is part of what you're buying — views hold value independently of the structure.
03Know the monthly fee
The association fee is $563/mo. That usually buys real services — verify what's covered before comparing this home against fee-free alternatives.
04Time on market is leverage
165 days on market against a Miami median of 66 — sellers in this position are usually ready to negotiate.
Keep looking
Similar homes nearby
Listing courtesy of Core Realty Associates, Inc. · Volkan Yetmisbir. MLS #A11974262.
IDX information 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. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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