501 First Residences Condo Homes for Sale

501 First Residences Condo is a residential community in Miami, Florida. Active listings are currently priced from $449K–$970K.

Pure Equity Realty covers 501 First Residences Condo and the Miami area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 3 501 First Residences Condo Miami homes for sale as of October 2026. The median asking price is $570,000. Asking prices run from $449,000 to $970,000.

That is 12% below the Miami median of $645,000. On a per-foot basis, homes here ask about $1,251 per square foot, compared with $508 across Miami. So the median price buys roughly 450 square feet of living area.

Listings here have averaged 59 days on the market. That is faster than the Miami average of 143 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in 501 First Residences Condo date from 2025, so they are about 1 years old.

Every one of these homes went up after Florida adopted its statewide building code in 2002. In practice, that usually means impact-rated openings and stronger roof attachment. A wind mitigation inspection documents those features, and Florida insurers must offer premium discounts for them.

Rentals in 501 First Residences Condo have a median asking rent of $4,125 per month, across 2 active rental listings. For comparison, the Miami median is $3,000, so rents here run 38% higher.

You can browse current Miami rentals or ask us for a rent estimate on a specific 501 First Residences Condo home.

Here is what the median 501 First Residences Condo price means in Florida closing terms. At $570,000, a 20% down payment comes to about $114,000, leaving a loan near $456,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $1,596. Next, the intangible tax of 0.2% adds about $912. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $3,420 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent 501 First Residences Condo listings show assignments to Frederick Douglass (elementary), Jose De Diego (middle) and Booker T. Washington (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.