Grove Isle Condo Homes for Sale

Grove Isle Condo is an age-restricted 55+ community in Miami, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $995,000 to $3,500,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Grove Isle Condo 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 Grove Isle 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 18 Grove Isle Condo Miami homes for sale as of October 2026. The median asking price is $2.77M. Asking prices run from $1.2M to $6.9M.

That is 334% above the Miami median of $639,000. On a per-foot basis, homes here ask about $1,101 per square foot, compared with $497 across Miami. So the median price buys roughly 2,500 square feet of living area.

Listings here have averaged 68 days on the market. That is faster than the Miami average of 138 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Grove Isle Condo date from 1979 to 1981. That puts them between 45 and 47 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Condo buyers should also know Florida's 2022 condo safety law. It requires milestone structural inspections for buildings three stories or taller as they age. It also requires a structural integrity reserve study. Before you sign, request both reports and the current reserve balance.

Grove Isle Condo includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

Grove Isle Condo is a condo building. Also request the association budget, recent minutes and any special assessments before you sign.

At a median near $2.77M, Grove Isle Condo sits in the luxury tier of Miami. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in Grove Isle Condo have a median asking rent of $8,600 per month, across 7 active rental listings. For comparison, the Miami median is $3,000, so rents here run 187% higher.

For investors, those medians imply a gross yield near 3.7% 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 Grove Isle Condo home.

Here is what the median Grove Isle Condo price means in Florida closing terms. At $2.77M, a 20% down payment comes to about $555,000, leaving a loan near $2.22M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $7,770. Next, the intangible tax of 0.2% adds about $4,440. 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 $16,650 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 Grove Isle Condo listings show assignments to Key Biscayne K-8 (elementary), Ponce De Leon (middle) and Coral Gables (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.