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Waterfront · Condominium
$1,100,000$927 / sqft
480 NE 31st St # 2003, Miami FL 33137
Listed
2
Bedrooms
3
Bathrooms
1,187 sqft
Interior
2019
Year built
$1,798 / mo
HOA
Condominium
Type
About this home
Enjoy breathtaking bay views from this spacious unfurnished 2-bedroom, 3-bathroom residence at Paraiso Bay. This bright, open-concept unit features floor-to-ceiling windows, a generous primary suite with stunning water views, and a private elevator foyer. Residents enjoy resort-style amenities, including a beach-entry pool with cabanas and BBQ areas, state-of-the-art fitness center, spa, sauna, tennis courts, bowling alley, golf simulator, billiards, game room, and more. Perfectly located in the heart of Edgewater, you're just minutes from the Design District, Wynwood, Midtown, Brickell, and Miami Beach. One assigned parking space is included. Experience luxury waterfront living at one of Miami's most sought-after buildings.
Features
- Lobby
- Elevator
- Fire Sprinklers
- Walk-In Closet(s)
- Open Balcony
- Bay
- Pool Area View
- Skyline
Leasing
- Minimum lease
- 90 days
- Leases permitted per year
- 4
- No Daily Rentals
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 200 active listings; the middle half ask $2,350–$4,801.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.