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+25 photosLuxury home — 1 NE 78th Street · Miami
$2,600,000
1 NE 78th Street, Miami, FL 33138
Miami, FL, 33138
— bd · 0 ba · 6,395 sqft
Listed by Fausto Commercial Realty Consultants Inc
1 NE 78th Street, Miami, FL 33138
Listed by Fausto Commercial Realty Consultants Inc
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Estimated monthly payment
$18,087/mo
Know your costs before you buy
Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.
Estimated monthly payment $18,087/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.
Cash to close includes the down payment, lender and title costs, taxes, insurance prepayments and escrow deposits. Editable estimate only.
Insurance and flood: Zone not provided · verify insurance quotes before buying.
About this home
Find similar homes13-unit multifamily asset strategicallylocated in the heart of Little River, one ofMiami’s fastest-evolving urbanneighborhoods. Positioned on a prominentcorner lot with frontage along NE 78thStreet, the property benefits from strongvisibility, walkability, and quick connectivityto the Design District, Wynwood, andDowntown Miami, as well as major transitcorridors. Built in 1971, the two-story buildingtotals approximately 7,496 SF of living areaon a 13,063 SF lot and is currently operatingwith stable in-place income. Offered at$2,600,000, the property generates an in-place NOI of approximately $191,000,equating to a 7.35% cap rate, with modestupside through rent growth and operationalefficiencies. A key value driver is the T6-8-Ozoning, which supports high-density mixed-use redevelopment of up to eight stories,positioning the asset for futureredevelopment, assemblage, or land-banking as Little River continues itstransformation.
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
210 days on market
Longer time on market usually means the seller is more open to negotiating on price and terms.
Price reductions and days on market come from this listing's MLS record. This is an initial market signal, not a formal appraisal or full comparable market analysis.
Property Details
Your costs (est.)
≈ $18,087/mo
1 NE 78th Street, Miami, FL 33138 · Miami
Location
1 NE 78th Street, Miami, FL 33138
What buyers ask about this home
What are the estimated monthly carrying costs at 1 NE 78th Street, Miami, FL 33138?+
Property tax (after sale): $3,074/month est.; homeowners insurance: $1,522/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $4,596/month est. Principal and interest: $13,491/month; PMI: $0/month. Total for the payment scenario shown: $18,087/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.
Will property taxes go up after I buy 1 NE 78th Street, Miami, FL 33138?+
Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.
Does 1 NE 78th Street, Miami, FL 33138 need flood insurance, and what drives the premium?+
Most of Miami sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.
What should an inspection focus on for a home like 1 NE 78th Street, Miami, FL 33138?+
In coastal South Florida, prioritize roof age and permit history, whether windows and doors are impact-rated, the seawall and dock condition on waterfront lots, drainage and elevation, plumbing type (cast iron and polybutylene are common in homes of this era), and any open or expired permits with the city. These items, not cosmetics, drive both price and insurability.
Is there room to negotiate on 1 NE 78th Street, Miami, FL 33138?+
This listing has been on the market 210 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.
Neighborhood & Commute
Miami. Distinct neighborhoods, local dining and shopping, with downtown, Brickell and MiamiCentral as everyday destinations.
Approximate Drive Times
Drive times are estimates based on straight-line distance at typical South Florida traffic speeds. Actual times vary with traffic and routing.
Assigned schools for this address
Jesse J. Mccrary Jr. Elementary School
Elementary · 0.6 mi from this home · 514 Nw 77Th St, Miami
Zone boundaries published by Miami-Dade County Public Schools.
Other options for this address
Archdiocese Of Miami Virtual Catholic School
Pre-K & Kindergarten · Private · Catholic · Grades K–12 · Miami Shores
Mcdonalds Playworld Community Development Inc Dba
Pre-K & Kindergarten · Private · Grades K–12 · Miami
Ebenezer Christian Academy II
Pre-K & Kindergarten · Private · Christian · Grades K–12 · Miami
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
Simon Gedz
Realtor® since 1995
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