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Waterfront · Condominium
$798,500$889 / sqft
650 NE 32nd St # 4407, Miami FL 33137
Listed
1
Bedrooms
2
Bathrooms
898 sqft
Interior
2018
Year built
$1,200 / mo
HOA
Condominium
Type
About this home
Rarely available for rent, this sophisticated 1 Bed + Den, 2 Bath residence at Paraiso Bay offers refined waterfront living with breathtaking bay and skyline views and upgraded finishes Designed with elevated custom finishes throughout, the unit features a bespoke kitchen island with a stone waterfall countertop, a beautifully appointed den, and three custom closets in the primary suite. The primary bathroom has been upgraded into a spa-like retreat with a high-end triple-control shower system, while distinctive design details including a custom black mirror wall and electric blackout shades — create a sleek, modern atmosphere. Enjoy the privacy and exclusivity of direct elevator entry, along with a generous 215 sq. ft. terrace ideal for relaxing or entertaining while overlooking Miami’s iconic waterfront. Paraiso Bay offers some of Edgewater’s most complete resort-style amenities, including a lagoon-style pool, state-of-the-art fitness center, spa, tennis courts, theater, bowling alley, children’s playroom, and elegant social spaces. Perfectly located minutes from Wynwood, the Design District, Midtown, Miami Beach, Brickell, and Miami International Airport, this residence delivers the ideal combination of luxury, privacy, design, and convenience in one of Miami’s most desirable waterfront communities. Currently rented 5300/month with possibility of extending lease or 1 month notice
Features
- Built-in Features
- Closet Cabinetry
- Cooking Island
- Elevator
- Entrance Foyer
- Walk-In Closet(s)
- Open Balcony
- Tennis Court(s)
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–$3,750.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.