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1
Bedrooms
2
Bathrooms
1,042 sqft
Interior
1965
Year built
$1,404 / mo
HOA
Condominium
Type
About this home
Direct Biscayne Bay and marina views frame this oversized 1,042-square-foot 1 Bed/1.5 Bath residence, offering exceptional space and light in one of Miami’s top waterfront enclaves. The unit features an expansive open plan where the kitchen, living, and dining areas breathe together naturally, framed by floor-to-ceiling glass. Proportion and flow are both right, complemented by a walk-in closet, dedicated additional storage, assigned covered parking, dishwasher, and pet-friendly policies. The marina fronting the property is under active restoration and generating rental income with completion expected within the year. Palm Bay is one of Miami's more distinctive addresses. A low density waterfront community originally developed as a private tennis club, set on eight acres of landscaped grounds beneath a canopy of mature oaks. It feels closer to a private park than a condo complex. Residents enjoy a bayfront pool, jacuzzi, modern fitness center, and tennis/pickleball courts, plus direct water access for paddleboarding and kayaking. A private gate connects directly to Legion Park next door. Minutes from the beach, the Design District, Downtown Miami, I-95, and MIA, this is the ultimate retreat in the heart of the Upper Eastside. Fully funded reserves, concrete restoration nearly complete, and Seller to pay current special assessment in full at closing.
Features
- First Floor Entry
- Walk-In Closet(s)
- Storage
- East Of Us1
- Exterior Cat Walk
- Open Balcony
- Bay
Leasing
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–$3,500.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.