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1
Bedrooms
1
Bathrooms
850 sqft
Interior
2006
Year built
$1,203 / mo
HOA
Condominium
Type
About this home
Waterfront living in the heart of Edgewater! This beautifully maintained 1BR/1BA residence at New Wave offers 850 SF of interior living space plus an oversized private terrace finished with Jerusalem stone and overlooking Biscayne Bay. Floor-to-ceiling impact glass fills the residence with natural light, while real wood floors add warmth and character throughout. Spacious living and dining areas, open kitchen, in-unit washer/dryer and ample storage. New Wave is a boutique bayfront condominium offering a waterfront pool, fitness center, resident lounge, 24-hour security, valet and covered parking. An important advantage in today's condo market: the building is financially sound with low HOA fees, its required SIRS and reserve studies have been completed, and current assessments have been paid—providing buyers greater confidence regarding the building's financial preparedness. Ideally located across from Margaret Pace Park and minutes from Wynwood, Design District, Downtown, Brickell and Miami Beach.
Features
- Closet Cabinetry
- Other
- East Of Us1
- Open Balcony
- Bay
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- No Daily Rentals
- Ok To Lease
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.