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Waterfront · Condominium
$1,399,999$1,217 / sqft
398 NE 5th St # 1601, Miami FL 33132
Listed
3
Bedrooms
3
Bathrooms
1,150 sqft
Interior
2022
Year built
$1,666 / mo
HOA
Condominium
Type
About this home
Experience luxury in this stunning 3-bed, 3-bath residence at The Elser Hotel & Residences in Downtown Miami. Enjoy breathtaking views of Biscayne Bay and the city skyline from floor-to-ceiling windows and a private balcony. The open-concept layout features a gourmet kitchen with high-end finishes, smart keyless entry, and a 9'2" ceiling height. Perfect for investors, this fully furnished unit allows short-term rentals with no restrictions, or live year-round in style. The Elser offers resort-style amenities: a rooftop pool, fitness center, and 24/7 concierge. Steps from Bayfront Park, top dining, and entertainment, this residence delivers a vibrant, sophisticated lifestyle. Schedule a tour today to discover modern Miami living at its finest!
Features
- Closet Cabinetry
- Elevator
- Barbeque
- Open Balcony
- Bay
Leasing
- Minimum lease
- 1 day
- Leases permitted per year
- 365
- Daily Rentals Allowed
- Ok To Lease
- Okay To Lease 1st Year
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
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 3-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $3,250–$12,000.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.