5505 NW 7th St # W406, Miami FL 33126 | Miami-Dade County | A11941147
- $239,900
- Condominium
- 2
- 2
- 0
- 888 Sq Ft
- $239,900
Description
Gated community in sought after central location
Building in pristine condition and fob entry only
Unit is equipped with hurricane shutters
Long term tenant in place paying $2120 monthly rent, lease ends July 2027
One reserved parking and limited visitor parking inside.
Approved SA starts 7/1/2026 $138.39 x 24 months
(Concrete restoration, waterproofing and painting)
Owner pays monthly and buyer to assume upon purchase.
Property Overview
This is a 2-bedroom, 2-bath condominium of about 888 square feet at 5505 NW 7th St # W406, Miami FL 33126 (Miami 33126), listed at $239,900.
Monthly Costs, Stated Plainly
The monthly HOA fee is $436.
The tax of record is $3,809 (2025). As an ESTIMATE ONLY — Florida reassesses at sale — at this price and a Miami-Dade rate near 2.0%: without homestead, about $4,800/yr (≈ $400/mo); with the homestead exemption on a primary residence, about $3,800/yr (≈ $317/mo). Confirm with the Miami-Dade Property Appraiser and a tax professional — these are estimates, not quotes.
Frequently Asked Questions
What is the list price, and what typically conveys with a home like this?
The list price for 5505 NW 7th St # W406 is $239,900. This home is sold unfurnished, though built-in appliances and fixtures convey with the sale.
The pool is a shared community amenity and does not convey as part of the individual unit. Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
Where exactly is it, and what should I know about the location?
This property is located at 5505 NW 7th St # W406, Miami FL 33126, situated within the coastal corridor of Miami 33126. The unit is listed at $239,900 and offers two bedrooms and two bathrooms across approximately 888 sqft.
Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
What are the HOA / association fees, and what do they cover?
The monthly HOA fee is $436. This fee covers trash removal and water. Residents must follow city ordinances found at https://library.municode.com/fl/miami/codes/code_of_ordinances.
Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
What are the property taxes and homestead implications?
The tax of record is $3,809 (2025). As an ESTIMATE ONLY, since Florida reassesses at sale, a Miami-Dade rate near 2.0% puts the cost at about $4,800/yr (≈ $400/mo) without homestead, or about $3,800/yr (≈ $317/mo) with the homestead exemption on a primary residence. Florida's homestead exemption lowers taxable value only for a primary residence.
Confirm with the Miami-Dade Property Appraiser and a tax professional; these are estimates, not quotes. Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these figures.
Is the home in a flood zone, and what does that mean?
Flood zones identify areas at risk of flooding. You can find FEMA definitions and View the FEMA flood map for this address to see the specific designation for this unit. Lenders often require flood insurance in high-risk zones.
Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
Are pets allowed?
Records indicate pets are not allowed or are heavily restricted at 5505 NW 7th St # W406. However, service animals are protected under the ADA and Fair Housing Act and generally cannot be categorically banned. Emotional Support Animals (ESAs) are treated as reasonable accommodations under the FHA, similar to a wheelchair rather than a pet, provided there is proper documentation and association review according to current law and evolving 2026 HUD guidance.
Review this guide and this article for more detail, and consult a Florida real-estate attorney for legal advice. Contact Christopher Lazaro, Miami Real Estate Realtor, to verify the current rules.
How is the price set and is there room to negotiate?
Miami-Dade condos have recently been closing at 94% of list, about 64 days on market (MIAMI REALTORS®, May 2026). The specific valuation for 5505 NW 7th St # W406 at $239,900 comes from a CMA.
I provide a Miami-specific CMA before you set an offer to ensure the price is grounded. Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
What financing step do you recommend before touring?
Secure a pre-approval before touring 5505 NW 7th St # W406 to ensure your budget aligns with the $239,900 list price. You should speak with a Florida-licensed MLO to establish your buying power.
Contact Christopher Lazaro, Miami Real Estate Realtor, to verify these details.
Monthly Fees & Carrying Costs
| Association Fee | $436 / month |
| Total Monthly Fees | $436 / month |
- Membership Required: No
- Application Fee: $150 (one-time)
Have a question about this Miami listing?
Talk directly with Christopher Lazaro, your Miami real estate advisor. No pressure — real answers.
Address
Open on Google Maps-
Address: 7th St
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City: Miami
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State/county: Miami-Dade County
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Zip/Postal Code: 33126
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Area: EL LAGO CONDO
Details
Updated on September 11, 2026 at 5:46 pm-
Property ID A11941147
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Price $239,900
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Property Size 888 Sq Ft
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Bedrooms 2
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Room 0
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Bathrooms 2
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Garage 0
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Year Built 1972
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Type Condominium
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Property Status Active, Residential
Additional details
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View None
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Cooling Central Air
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Heating None
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Tax Year 2025
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Flooring Tile
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Unit Floor 4
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High School South Miami
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Unit Number W406
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Building EL LAGO CONDOMINIUM
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Garage Spaces 0
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Listing Terms Conventional
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Area El Lago Condo
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Total Stories 4
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Waterfront No
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Association Yes
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Full Bathrooms 2
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Half Bathrooms 0
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Covered Spaces 0
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Style Condo 1-4 Stories
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Private Pool No
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Structure Type Condo 1-4 Stories, Condo
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Association Fee 436
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Parking 1 Space
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Subdivision EL LAGO CONDO
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Annual Tax 3809
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Elementary School Flagler; Henry M.
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Year Built Details Unknown
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Building Area 888
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Lot Size (Sq Ft) 0
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Flood Zone AH
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New Construction No
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Attached Yes
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Bedroom Features Other
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Amenities Pool
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Restrictions Corporate Buyer OK
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Middle School Kinlock Park
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Construction Other
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Pets Allowed No
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Patio / Porch Open Balcony
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Association Fee Frequency Monthly
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Association Type Condo
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Maintenance Includes Trash Removal, Water
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Membership Purchase Required No
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