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Waterfront · Single Family Residence
$5,549,000$882 / sqft
1051 NE 89th St, Miami FL 33138
Listed
7
Bedrooms
7
Bathrooms
6,288 sqft
Interior
1939
Year built
None
HOA
Single Family Residence
Type
About this home
Experience exceptional waterfront living in this impressive 6,200+ sq ft estate, perfectly positioned on a sprawling 17,000+ sq ft corner lot with approximately 70 feet of canal frontage, a private dock, and no fixed bridges to Biscayne Bay and the Atlantic Ocean. Designed for those who appreciate space, privacy, and the boating lifestyle, the home features 7 bedrooms, 5 full baths, and 2 half baths, expansive living and entertaining areas, a resort-style pool surrounded by lush tropical landscaping, and a private theater. The luxurious primary suite is its own private retreat with a dedicated office, dual walk-in closets, two spa-inspired baths, and direct access to the pool and waterfront. A dramatic foyer with terrazzo floors, a fireplace, and an elegant staircase creates a memorable first impression, while the flexible floor plan offers 4 bedrooms on the main level and 3 upstairs. Currently licensed for short-term rentals with a proven performance history, this property offers a rare combination of luxury living, boating access, and income potential. Explore the immersive 3D Matterport tour and cinematic drone video to fully appreciate everything this exceptional waterfront estate has to offer. Images may be virtually staged and/or digitally enhanced (including furniture, colors, fixtures, landscaping, and décor) for illustrative purposes only.
Features
- First Floor Entry
- Built-in Features
- Closet Cabinetry
- Cooking Island
- Entrance Foyer
- Walk-In Closet(s)
- Den/Library/Office
- Family Room
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 7-bed rentals across Miami-Dade, from 20 active listings; the middle half ask $18,000–$70,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.