501 First Residences Homes for Sale

501 First Residences is a community in Miami, Miami-Dade County, Florida. Active listings are priced from $375,000 to $995,000. Homes were built between 2025 and 2026. Pure Equity lists homes in 501 First Residences and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers 501 First Residences 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 31 501 First Residences Miami homes for sale as of October 2026. The median asking price is $520,000. Asking prices run from $379,000 to $995,000.

That is 19% below the Miami median of $640,000. On a per-foot basis, homes here ask about $1,091 per square foot, compared with $508 across Miami. So the median price buys roughly 500 square feet of living area.

Listings here have averaged 126 days on the market. That tracks the Miami average of 143 days, so pricing and terms follow the wider city market.

Homes listed in 501 First Residences date from 2025 to 2026. That puts them between 0 and 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.

501 First Residences has new construction. Builders usually require your agent to register you on the first visit, so bring your agent or call us before you walk in.

Rentals in 501 First Residences have a median asking rent of $3,445 per month, across 6 active rental listings. For comparison, the Miami median is $3,000, so rents here run 15% higher.

For investors, those medians imply a gross yield near 8.0% a year. However, that figure comes before HOA dues, property tax, insurance and vacancy. Also check the association documents first, because many Florida HOAs cap leases or set minimum terms.

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

Here is what the median 501 First Residences price means in Florida closing terms. At $520,000, a 20% down payment comes to about $104,000, leaving a loan near $416,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $1,456. Next, the intangible tax of 0.2% adds about $832. 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 $3,120 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 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.