121 NE 5th Street # 1506, Miami FL 33132, MIAMI, FL, 33132
Active131 days on marketListed Apr 9, 2026MLS #B26013348
About this home
121 NE 5th Street # 1506, Miami FL 33132
Prime investment opportunity in Downtown Miami at 121 NE 5th St, Unit 1506. Modern residence featuring floor-to-ceiling windows, private balcony, and sleek contemporary design. Ideal for primary living, vacation use, or income-producing investment. Located steps from Miami Worldcenter, Brightline, Bayside, top dining, entertainment, and major transit hubs. Positioned in one of Miami's fastest-growing urban corridors. Short-term rentals such as Airbnb allowed (verify building guidelines), offering exceptional income potential. Strong projected demand driven by Miami's expanding tourism market and upcoming global events including the FIFA World Cup. A rare opportunity to own a flexible, high-demand asset in the heart of Miami. Short-term rentals permitted (verify current building guidelines). Strong Airbnb income potential. Prime Downtown Miami location within walking distance to Miami Worldcenter, Kaseya Center, Brightline, PortMiami, and major attractions. High projected demand driven by continued tourism growth and upcoming global events including the FIFA World Cup.
Facts & features
The home at a glance
1
Bedrooms
1.5
Bathrooms
511
Sqft
0 ac
Lot size
2025
Year built
43
Levels
$1,155
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.
$5,125 /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
$5,125/mo
Includes estimated PMI — it drops off once you reach 20% equity. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. 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.
$/sqft vs Miami actives
$1,155 vs $508
Days on market
131 vs 66 typical
Where $1,155/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 44% 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 Street # 1506
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · May ’26$1,370,000
Nearby listing · same community
3 bd · 2 ba · 2,580 sqft · $531/sqft · 1 DOM
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
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 Street # 1506 — 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 Street # 1506 — 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 Street # 1506 FAQs
What would the monthly payment be for 121 NE 5th Street # 1506, Miami FL 33132?+
With 10% down on a 30-year Conventional loan at 6%, the all-in payment lands around $5,125/mo — principal and interest, the actual property-tax bill, the $893/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 Street # 1506, Miami FL 33132?+
The association fee works out to $893 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 Street # 1506, Miami FL 33132?+
The most recent tax bill on record (2026) was $8,000. 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 Street # 1506, Miami FL 33132?+
The listing reports pets: Yes. 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 $590,000, this home is listed about 3% 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 Street # 1506, 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
$590,000 runs 44% above the MIAMI 33132 median.
02Your own pool
A private pool — the feature Florida buyers ask for first, already in the ground and included in the price.
03Know the monthly fee
The association fee is $893/mo. That usually buys real services — verify what's covered before comparing this home against fee-free alternatives.
04The price has already moved
Listed at $680,000, now $590,000 — a $90K cut. The full history is in the market section below.
Keep looking
Similar homes nearby
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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