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Townhouse
$485,000$373 / sqft
515 NE 38th St # 10, Miami FL 33137
Listed
2
Bedrooms
2
Bathrooms
1,299 sqft
Interior
1981
Year built
$850 / mo
HOA
Townhouse
Type
About this home
Fantastic opportunity to own a beautifully remodeled townhome in a charming community in between Edgewater & The Design District. This two-story gem has been totally remodeled with ultra-modern bathrooms and an open kitchen featuring honey gold warm wood cabinets & SS appliances. Sliding glass doors lead to a private outside back patio where you can barbecue as if you are in your own private home. The second floor is a two-bedroom split plan. Amenities include a large tropical pool & plenty of parking. One block from the Bay & park and within a short walk to all the local shops & restaurants in The Design District and Midtown. Set within a boutique complex of only 17 units, the property provides a sense of privacy while remaining close to all major roadways and vibrant city amenities Miami has to offer. Enjoy the perfect lifestyle with none of the issues of high-rise condo living. Perfect as a primary residence or a smart investment, with strong rental appeal thanks to its excellent location. EASY TO SHOW.
Features
- First Floor Entry
- East Of Us1
- Open Balcony
- Other View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- Ok To Lease
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.
Location
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 2-bed rentals across Miami-Dade, from 179 active listings; the middle half ask $2,300–$3,000.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.