398 NE 5th St # 2112, Miami FL 33132, MIAMI, FL, 33132
Active54 days on marketListed Jun 18, 2026MLS #A12039725
About this home
398 NE 5th St # 2112, Miami FL 33132
Located in the Heart of Downtown Miami, this exceptional Studio at THE ELSER Hotel & Residences is a rare investment opportunity, ideal for short-term rentals managed through Airbnb, VRBO, or directly by the hotel. Fully furnished and beautifully appointed, this unit features a king-size bed, pull-out couch, and a fully equipped kitchen, washer & dryer inside the unit. Enjoy breathtaking panoramic views of Biscayne Bay, a rooftop pool with a poolside bar and restaurant, a two-story gym, and valet parking. Just steps from Bayside Marketplace, Port of Miami, this location truly has it all! Don’t miss out on this premier property in Miami’s luxury market.
Facts & features
The home at a glance
0
Bedrooms
1
Bathrooms
341
Sqft
1
Garage
2022
Year built
$2,079
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$4,692 /mo · 30% down, 30-yr fixed at 6.9%
Why the rate is different here
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote for a condo-hotel in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$4,692/mo
Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs MAP OF MIAMI DADE CO. FL.
$2,079 vs $1,450
Days on market
54 vs 66 typical
Where $2,079/sqft sits among the 49 homes for sale in MAP OF MIAMI DADE CO. FL.
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Downtown
Get to know Miami. See the full Miami guide →
Downtown — neighborhood snapshot
Population
24,316
Median age
38
Median income
$108,427
Median home value
$557,583
Avg household
2
Households w/ children
1,166
For the school run
Dade County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Miami market
$508K → $590K
Miami median sold, yr/yr
97.6%
Sale-to-list ratio (12 mo)
0 of 49
MAP OF MIAMI DADE CO. FL. have cut their price
Median sold price, Miami, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 73% above the MIAMI 33132 median. See the full Miami market guide →
Paper trail
This home's history
Reality check
What actually sold near 398 NE 5th St # 2112
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Apr ’26$415,000
398 NE 5th St # 4616, Miami FL 33132 · same community
0 bd · 1 ba · 362 sqft · $1,146/sqft · 94 DOM
Sold · Apr ’26$410,000
398 NE 5th St # 4516, Miami FL 33132 · same community
0 bd · 1 ba · 362 sqft · $1,133/sqft · 141 DOM
Sold · Apr ’26$365,000
227 NE 2nd St # 2908, Miami FL 33132 · same community
0 bd · 1 ba · 393 sqft · $929/sqft · 150 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 398 NE 5th St # 2112 — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 398 NE 5th St # 2112 — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
398 NE 5th St # 2112 FAQs
What would the monthly payment be for 398 NE 5th St # 2112, Miami FL 33132?+
With 30% down on a 30-year condo-hotel loan at 6.9%, the all-in payment lands around $4,692/mo — principal and interest, the actual property-tax bill, the $445/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 398 NE 5th St # 2112, Miami FL 33132?+
The association fee works out to $445 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 398 NE 5th St # 2112, Miami FL 33132?+
The most recent tax bill on record (2025) was $9,820. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 398 NE 5th St # 2112, Miami FL 33132?+
The listing reports pets: No. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Miami?+
At $709,000, this home is listed about 16% above the Miami median of $610,000. The market section on this page shows how the area is trending.
Which schools are assigned to 398 NE 5th St # 2112, Miami FL 33132?+
Frederick R. Douglass Elementary (elementary), District Instructional Center (Dic) (), Booker T. Washington Senior High (high), Jose De Diego Middle School (middle), Instructional Center System Wide (), Title I Migrant Education Program () — Dade County School District. Always verify school assignments with the district before relying on them.
The brief
Three things that matter here
01Positioned at the premium end
$709,000 runs 73% above the MIAMI 33132 median.
02Bay views
The bay view is part of what you're buying — views hold value independently of the structure.
03The trade-off to know about
Condo-hotel units use specialty financing — expect a larger down payment and a rate premium, or an all-cash purchase. Our lender partners quote these weekly; the cost panel below reflects standard financing, so ask us for the real quote.
Keep looking
Similar homes nearby
Listing courtesy of Damar Florida Real Estate · Mirtha Garcia. MLS #A12039725.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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