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+61 photosLuxury home — 5900 NE 5th Avenue · Bayshore Amd · Miami
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Open property magazine$2,100,000
5900 NE 5th Avenue, Miami, FL 33137
Miami, FL, 33137
4 bd · 3 ba · 5,180 sqft
Listed by Beachfront Realty Inc
5900 NE 5th Avenue, Miami, FL 33137
Listed by Beachfront Realty Inc
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Estimated monthly payment
$15,389/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 $15,389/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 homesHUGE PRICE DROP! ENORMOUS OPPORTUNITY FOR THE RIGHT BUYER!! Motivated seller of this assemblage of Bayshore lots; price just reduced. Three lots, totaling ½ an acre, on the corner of 59th St. & 5th Ave in rapidly changing Palm Grove. On site is a 100-year-old home spanning 5409 sf. New kitchen & appliances & bathroom. A grand home w/ richly appointed generous rooms. Owned by a prominent Miami family for 80 years. Presently zoned as single family residential, the property is surrounded by single & multi-family and commercially-zoned properties. This home is in the Palm Grove Historic District, and given its age is likely to be deemed "contributing" to the historic ambience of the community. So Seller is looking for that buyer who is willing and able to bring this home back to its former grandeur. Plenty of room to add on to the original core home, whilst preserving the original structure. This is probably the largest single family lot in all of Palm Grove, and is surrounded by an imposing wall. Inside are quiet courtyards under towering trees. Just off Biscayne, this area is undergoing dynamic changes. A nearby property one half this size recently sold for over $6M. Property could become a stand out stunning estate home in the center of it all -- for the right buyer. The potential here is unrivaled... Seller is very motivated. Contact Agent. See property. Make an offer.
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
Price reduced 30%
The seller has come down from $2,999,000 to $2,100,000 — a $899,000 reduction since it came on the market.
463 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
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Your costs (est.)
≈ $15,389/mo
5900 NE 5th Avenue, Miami, FL 33137 · Miami
Location
5900 NE 5th Avenue, Miami, FL 33137
What buyers ask about this home
What are the estimated monthly carrying costs at 5900 NE 5th Avenue, Miami, FL 33137?+
Property tax (after sale): $3,498/month est.; homeowners insurance: $995/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $4,493/month est. Principal and interest: $10,896/month; PMI: $0/month. Total for the payment scenario shown: $15,389/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 5900 NE 5th Avenue, Miami, FL 33137?+
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 5900 NE 5th Avenue, Miami, FL 33137 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 5900 NE 5th Avenue, Miami, FL 33137?+
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.
What extra costs come with the pool at 5900 NE 5th Avenue, Miami, FL 33137?+
A pool typically adds ongoing service, chemicals and electricity, plus periodic resurfacing and equipment replacement. Verify the safety barrier meets Florida code, which is required for insurance and resale.
Is there room to negotiate on 5900 NE 5th Avenue, Miami, FL 33137?+
This listing has been on the market 463 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
Zone boundaries published by Miami-Dade County Public Schools.
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School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
The home, in a magazine
A closer look at this home and its lifestyle — dedicated to you and your family.
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Simon Gedz
Realtor® since 1995
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