Madison Downtown Homes for Sale

Madison Downtown Condo is a community in Miami, Miami-Dade County, Florida. Active listings are priced from $309,900 to $349,000. Homes were built starting 1989. Pure Equity lists homes in Madison Downtown 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 Madison Downtown 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 10 Madison Downtown Miami homes for sale as of October 2026. The median asking price is $298,000. Asking prices run from $240,000 to $330,000.

That is 54% below the Miami median of $645,000. On a per-foot basis, homes here ask about $355 per square foot, compared with $509 across Miami. So the median price buys roughly 850 square feet of living area.

Listings here have averaged 284 days on the market. That is slower than the Miami average of 144 days. Because of that, buyers often have more room to negotiate on price, repairs or closing costs.

Homes listed in Madison Downtown date from 1989, so they are about 37 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.

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

Rentals in Madison Downtown have a median asking rent of $2,700 per month, across 17 active rental listings. For comparison, the Miami median is $3,000, so rents here run 10% lower.

For investors, those medians imply a gross yield near 10.9% 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 Madison Downtown home.

Here is what the median Madison Downtown price means in Florida closing terms. At $298,000, a 20% down payment comes to about $60,000, leaving a loan near $238,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $834. Next, the intangible tax of 0.2% adds about $477. 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 $1,788 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 Madison Downtown 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.