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Waterfront · Condominium
$1,700,000$575 / sqft
Miami, FL, 33138
Listed
3
Bedrooms
5
Bathrooms
2,957 sqft
Interior
1972
Year built
$4,473 / mo
HOA
Condominium
Type
About this home
Palm Bay Tower | Exceptional Investment Opportunity Now offered for sale, this exceptional residence in the iconic Palm Bay Tower features breathtaking direct bay views and spectacular natural light, with panoramic vistas spanning north, south, east, and west. An ideal opportunity for investors or visionary buyers looking to remodel and customize the space, unlock its full potential, and create a truly remarkable waterfront residence. Rare Added Value: This unit offers the unique possibility of connecting with Unit 21S, creating an opportunity to combine both residences into a larger, customized living space. A rare chance to invest in an iconic building, capitalize on extraordinary views, and transform this property into a stunning signature residence with exceptional potential. Special assessment $1,507.55 per month
Features
- First Floor Entry
- Other
- Bay
Leasing
- Minimum lease
- 180 days
- Leases permitted per year
- 2
- No Daily Rentals
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
Estimated loan & HOA
$13,069
Loan payment and HOA only. Property tax and insurance are significant here and are included.
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 3-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $2,900–$11,500.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.