121 NE 5th St # 3405, Miami FL 33132, MIAMI, FL, 33132
Active30 days on marketListed Jul 16, 2026MLS #A12054926
About this home
121 NE 5th St # 3405, Miami FL 33132
Experience elevated living in this spectacular high-floor residence at 501 First Residences, located in the heart of Downtown Miami. This modern unit features breathtaking skyline views, floor-to-ceiling impact windows, high ceilings, elegant finishes, and an open-concept layout designed for today's lifestyle. The contemporary kitchen offers premium cabinetry, quartz countertops, and stainless steel appliances, seamlessly connecting to the spacious living and dining areas. Enjoy world-class amenities, including a resort-style rooftop pool, state-of-the-art fitness center, yoga studio, co-working spaces, social lounges, game room, concierge, valet, and 24-hour security. Perfectly positioned just steps from Miami Worldcenter, Brightline, Kaseya Center, Bayside Marketplace, Museum Park, top restaurants, shopping, nightlife, and Miami's beautiful waterfront. One of the few luxury buildings allowing short-term rentals, this residence presents an exceptional opportunity for investors, seasonal owners, or anyone seeking maximum flexibility and income potential. Whether you're looking for a primary residence, vacation home, or high-performing investment property, this is your chance to own in one of Miami's fastest-growing and most exciting neighborhoods.
Facts & features
The home at a glance
1
Bedrooms
1
Bathrooms
489
Sqft
1
Garage
2025
Year built
$1,202
Per sqft
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.
$4,355 /mo · 10% down Conventional, 30-yr fixed at 6%
The assumptions
Above the FHA loan limit for our service areas, so Conventional is the default. VA buyers: switch below — $0 down.
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
FHA isn’t available at this price — the loan would exceed the $541,287 FHA limit for our service areas.
Estimated payment
$4,894/mo
Includes estimated PMI — it drops off once you reach 20% equity. 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.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
vs edgeAI estimate
+31.3%
$/sqft vs Miami actives
$1,202 vs $511
Days on market
30 vs 66 typical
Where $1,202/sqft sits among the 400 Miami actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
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)
36 of 400
Miami actives have cut their price
Median sold price, Miami, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 43% 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 St # 3405
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Mar ’26$626,000
Nearby listing
1 bd · 1 ba · 578 sqft · $1,083/sqft
Sold · Feb ’26$696,900
Nearby listing
1 bd · 1 ba · 578 sqft · $1,206/sqft
Sold · Feb ’26$317,500
185 SE 14 Ter # 1709, Miami FL 33131
1 bd · 1 ba · 600 sqft · $529/sqft · 105 DOM
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
Lacie Springstead
REALTOR® · CENTURY 21 Edge
Tours, negotiation, and every question about 121 NE 5th St # 3405 — 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 St # 3405 — before you fall in love.
See it in person
Schedule a tour
Live availability from Lacie's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
121 NE 5th St # 3405 FAQs
What would the monthly payment be for 121 NE 5th St # 3405, Miami FL 33132?+
With 10% down on a 30-year Conventional loan at 6%, the all-in payment lands around $4,355/mo — principal and interest, estimated property taxes, the $802/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 St # 3405, Miami FL 33132?+
The association fee works out to $802 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 St # 3405, 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.
How does the price compare to other homes in Miami?+
At $588,000, this home is listed about 4% 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 St # 3405, 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
Three things that matter here
01Positioned at the premium end
$588,000 runs 43% above the MIAMI 33132 median.
02Bay views
The bay view is part of what you're buying — views hold value independently of the structure.
03Know the monthly fee
The association fee is $802/mo. That usually buys real services — verify what's covered before comparing this home against fee-free alternatives.
Keep looking
Similar homes nearby
Listing courtesy of Brosda & Bentley Realtors, LLC · Ekaterina Brosda. MLS #A12054926.
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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