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Pending
Waterfront · Condominium
$1,099,000$1,126 / sqft

398 NE 5th St # 1809, Miami FL 33132

In The Elser
3
Bedrooms
3
Bathrooms
976 sqft
Interior
2022
Year built
$1,501 / mo
HOA
Condominium
Type

About this home

INVESTOR OPPORTUNITY: Priced nearly 40% below the last sale! Fully furnished 3BD/3BA at The Elser Hotel & Residences with NO RENTAL RESTRICTIONS: Airbnb, short-term, and daily rentals all permitted. Enjoy stunning Downtown views from the wraparound balcony. Features 9+ ft ceilings, porcelain wood-style tile, sleek kitchen w/ Italkraft cabinetry, quartz counters, & stainless steel appliances. Exceptional amenities: cocktail bar by Jaguar Sun, Café Domino coffee lounge, 132-ft pool w/ private cabanas, outdoor theater lawn, LED movie wall, two-story wellness center w/ yoga deck + spa, co-working spaces, & sky lounge. Prime location steps from Bayfront Park, world-class dining, museums, Kaseya Center, Wynwood, & more. Schedule your tour today!

Features

  • Closet Cabinetry
  • Fire Sprinklers
  • Entrance Foyer
  • Walk-In Closet(s)
  • No Additional Rooms
  • Open Balcony
  • Bay
  • Intracoastal View
  • Ocean View
  • Direct Ocean
  • Skyline
  • Water View

Location

Approximate — shows the building, not the unit. Open in maps (opens in a new tab)

Estimated loan & HOA

$7,058

Loan payment and HOA only. Property tax and insurance are significant here and are not included.

Principal & interest
$5,557
HOA
$1,501 / mo

Illustration only — not a loan offer, quote, or commitment. Assumes a 30-year loan at 6.5% with 20% down (rates as of July 2026); your actual terms will differ.

Schedule a tour

Request a private or video tour with a local agent.

Courtesy of
Blackbook Properties

Run the numbers

We fill in the price and the building's HOA dues. That leaves rent, tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Vacancy and the loan terms below start at common defaults; change them.

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 rent, 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. 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.