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Waterfront · Condominium
$850,000$1,923 / sqft
398 NE 5th Street # 3907, Miami FL 33132
Listed
1
Bedrooms
1
Bathrooms
442 sqft
Interior
2022
Year built
$567 / mo
HOA
Condominium
Type
About this home
Beautiful and captivating studio on the 39th Floor at The Elser Residences. This unit is an amazing opportunity for investors and buyers alike. With this unit you are getting a beautiful and comfy studio where you can kickback and enjoy in any way you see fit! Overlooking the Kesaya Center and ocean bay you'll be close to some of the best attractions Miami has to offer. Including, the Frost Museum, Perez Art Museum, Bayfront Park and Bayside Marketplace there are numerous things to do. The Elser provides a fitness center, pool, spa and sauna for all your relaxation needs as well. Having such a vast amount of choices in amenities this makes for an amazing rental that you can manage on your own or with The Elser's rental program.
Features
- Interior Hall
- Closet Cabinetry
- Walk-In Closet(s)
- Studio Apartment
- Open Balcony
- Bay
- Ocean
- Water
- Bay View
- Direct Ocean
- Ocean View
Leasing
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 1-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $2,000–$3,495.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.