What is the asking price and what does it include?

The list price for 121 NE 5th St # 510, Miami FL 33132 is $550,000. The property is a Condominium with 1 bedrooms, 2 bathrooms, approximately 545 square feet of living space, on a — lot. List price reflects the home and customarily-attached fixtures; it does not include furniture, art, or detached personal property unless explicitly listed in contract. Final inclusions are determined by the executed purchase contract, not by this page. Contact us if you want a written inclusions/exclusions schedule before drafting an offer.

Where exactly is it, and what is the neighborhood like?

The property sits at 121 NE 5th St # 510, Miami FL 33132 in Miami, 33132. Coordinates are approximately 25.7791319, -80.1918147. Walkability, transit, distance to beach or bay, and traffic patterns vary block by block and are best evaluated in person; visit at both a weekday rush hour and a weekend afternoon before writing an offer. We do not characterize neighborhoods by demographic composition — Fair Housing Act constraints we take seriously. We will gladly provide objective data on request: distance to nearest grocery, hospital, marina, public school, and major roadway.

What are the property taxes and any homestead implications?

Miami-Dade County real-estate taxes are administered by the Miami-Dade Property Appraiser (current assessment + tax-bill data at https://www.miamidade.gov/pa/property_search.asp). A new buyer's tax bill resets based on the sale price and the buyer's own exemption status; the first full tax bill after purchase is often meaningfully higher than the seller's prior bill. Florida's Homestead Exemption reduces the taxable value for a primary residence — eligibility requirements and filing windows are published at https://www.miamidade.gov/pa/exemptions_homestead.asp. The statewide Florida Department of Revenue property-tax reference is at https://floridarevenue.com/property/.

Is it in a flood zone, and what does that mean for insurance?

Authoritative flood-zone designation for any U.S. address is published by FEMA on the National Flood Hazard Layer at https://msc.fema.gov/portal/home. Coastal South Florida includes properties in multiple flood-risk zones (AE, V, VE, X). Lenders typically require flood insurance in high-risk zones. The FEMA Risk Rating 2.0 methodology (premiums based on elevation, construction type, claims history, distance to water) is documented at https://www.fema.gov/flood-insurance/risk-rating. Florida-specific flood-insurance program data is at https://floridarevenue.com/.

How do you determine the list price?

We analyze recent comparable sales in Miami — similar properties in size, condition, and location that sold within the last three to six months. This Comparative Market Analysis (CMA) helps ensure 550,000 reflects current market value. For a personalized CMA on a specific property or to discuss listing strategy, contact us directly.

How long does it typically take to close on this property?

Most Florida real estate transactions close in 30–45 days from accepted offer, assuming timely financing, inspections, and HOA or condominium questionnaire responses. Condominium sales may take longer if SB-4D structural reports or association approvals are needed. We manage the timeline closely to avoid delays. Contact us for a detailed closing checklist tailored to 121 NE 5th St # 510, Miami FL 33132.

What financing step do you recommend before touring?

Get pre-approved by a licensed lender before making an offer. A pre-approval letter shows sellers you are a serious buyer and can close. In Florida's competitive market, it is often a practical requirement. We work with trusted local lenders who understand Miami-Dade specifics like flood-zone implications and condominium-warrantability requirements. Call us for lender referrals.

Home
Condominium
121 NE 5th St # 510, Miami FL 33132 | Miami-Dade County | A12026255

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121 NE 5th St # 510, Miami FL 33132 | Miami-Dade County | A12026255

121 NE 5th St # 510, Miami FL 33132

Residential Active

$550,000

49 More

Type
Condominium

1
Bedroom

2
Bathrooms

1
Garage

545 Square Feet
Area Size

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Residential Active

121 NE 5th St # 510, Miami FL 33132 | Miami-Dade County | A12026255

121 NE 5th St # 510, Miami FL 33132

$550,000

Description

Fully furnished 1-bedroom + den, 2-bath residence at the brand-new 501 First Residences. No rental restrictions Unit 510 offers 597 SF with views of Biscayne Bay, the Kaseya Center, and the Freedom Tower. Turn-key unit featuring a European-style kitchen with Bosch appliances, private bedroom suite with built-ins, spa-style bath with rain shower, in-unit washer/dryer, and floor-to-ceiling windows with roller shades.

Amenities include a rooftop pool, cinema, co-working lounge, and fitness center.

Address

Open on Google Maps

Address: 5th St
City: Miami
State/county: Miami-Dade County
Zip/Postal Code: 33132
Area: 501 First Residences

Details

Updated on May 30, 2026 at 4:01 am

Property ID A12026255
Price $550,000
Property Size 545 Square Feet
Bedroom 1
Bathrooms 2
Garage 1
Year Built 2025
Type Condominium
Property Status Residential

Additional details

ArchitecturalStyle High Rise
AssociationAmenities Barbecue, Clubhouse-Clubroom, Elevator(s), Exercise Room, Pool
AssociationFee 518
AssociationFeeFrequency Monthly
BathroomsFull 2
BathroomsHalf 0
BuildingAreaTotal 545
BuildingAreaUnits Square Feet
BuildingName 501 First Residences
ConstructionMaterials Concrete Block Construction
ContractStatusChangeDate 2026-05-27
Cooling Central Air
CoveredSpaces 1
DaysOnMarket 2
EntryLevel 5
ExpirationDate 2026-11-30
Flooring Marble, Slate
Heating Central
InternetAddressDisplayYN 1
InternetAutomatedValuationDisplayYN 1
InternetConsumerCommentYN 1
InternetEntireListingDisplayYN 1
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 305-851-1058
ListingTerms All Cash, Conventional
LotSizeSquareFeet 0
MLSAreaMajor 501 First Residences
MajorChangeTimestamp May 27, 2026 at 08:15pm
MajorChangeType New
MlsStatus Active
ModificationTimestamp May 29, 2026 at 03:18pm
OnMarketDate 2026-05-27
OriginalEntryTimestamp May 27, 2026 at 08:15pm
OriginalListPrice 550000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherEquipment Elevator
OtherExpense 0
ParcelNumber 01-41-01-008-3430
ParkingFeatures Valet
PhotosChangeTimestamp May 27, 2026 at 08:19pm
PhotosCount 54
PostalCode 33132
PostalCodePlus4 2610
PriceChangeTimestamp May 27, 2026 at 07:45pm
PropertyCondition New Construction
PublicSurveyRange 41
PublicSurveySection 1
PublicSurveyTownship 41
RoomsTotal 0
SecurityFeatures Fire Alarm, Card Entry
ShowingContactType Agent
ShowingInstructions Call Listing Agent
SourceSystemKey 497189235
StateOrProvince FL
StatusChangeTimestamp May 27, 2026 at 08:15pm
StoriesTotal 40
StreetDirPrefix NE
StreetName 5th St
StreetNumber 121
StreetNumberNumeric 121
StructureType Condo 5+ Stories, Condo
SyndicationRemarks Fully furnished 1-bedroom + den, 2-bath residence at the brand-new 501 First Residences. No rental restrictions Unit 510 offers 597 SF with views of Biscayne Bay, the Kaseya Center, and the Freedom Tower. Turn-key unit featuring a European-style kitchen with Bosch appliances, private bedroom suite with built-ins, spa-style bath with rain shower, in-unit washer/dryer, and floor-to-ceiling windows with roller shades. Amenities include a rooftop pool, cinema, co-working lounge, and fitness center.
TaxAnnualAmount 0
TaxLegalDescription 501 First Residences
TaxYear 2025
UnitNumber 510
View None
YearBuiltDetails New Construction