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If you had to rank these neighborhoods on where you get get a solid deal on 1 bed/1 bath condo or 2 bed/2 bath condo, which do you think would be the overall investment and where you will probably see the most appreciation and where you see the neighborhood growing the most? I would love to see you what you think is the best investment to worst and reasons behind it.
- Downtown
- Overtown (specifically the area that borders downtown near central station)
- Little Havana
- North Beach
- South Beach
- MiMo District
- Allapattah (specifically the area around River's Landing)
- Little Haiti (specifically the area that borders MiMo)
For me, I'd only consider newer buildings built within last 10-15 years or recently renovated older buildings that just went under the 40 year recertification and did all the expensive concrete and balcony restoration work. That leaves a donut hole of a lot of buildings built in the 80's and 90's that are going to have very expensive assessments in the near future.
I'm partial to direct unobstructed water views, either ocean or bay and you need to be very aware of your neighbors and what a future 50 story tower will do to your view.
But the best investment is probably a single family home in a good school zone if you can afford it.
If you had to rank these neighborhoods on where you get get a solid deal on 1 bed/1 bath condo or 2 bed/2 bath condo, which do you think would be the overall investment and where you will probably see the most appreciation and where you see the neighborhood growing the most? I would love to see you what you think is the best investment to worst and reasons behind it.
- Downtown
- Overtown (specifically the area that borders downtown near central station)
- Little Havana
- North Beach
- South Beach
- MiMo District
- Allapattah (specifically the area around River's Landing)
- Little Haiti (specifically the area that borders MiMo)
Sobe will become more higher end. Monad Terrace had no problem selling out. The new condo tower at the new park on 5th will be multi-million dollar condos.
However a lady was robbed in south of fifth at 5pm on a Thursday last week, so there's that. I was there getting my listing on the market at noon thinking about what paradise this place is..go figure
Overtown/Little Haiti/Allapattah - this is all speculative. If you had industrial/commercial spaces, then yes, best % of appreciation is here. For a 1/1 or a 2/2, where do you live? I always tell newcomers when they ask me these questions "Well, I can tell you my wife wouldn't live there" and that's my barometer
Downtown has lots of buildings so you can get a nice place in a great building with amenities, so your money goes further than South Beach and North Beach.
North Beach is a pretty safe bet. That area has no where to go but up. You're banking on local politicians changing zoning and allowing places like Little Haiti to be demo'd and re-built. Miami has a history of it, but it will be a while and you'd have to live there until it happens
Sobe will become more higher end. Monad Terrace had no problem selling out. The new condo tower at the new park on 5th will be multi-million dollar condos.
However a lady was robbed in south of fifth at 5pm on a Thursday last week, so there's that. I was there getting my listing on the market at noon thinking about what paradise this place is..go figure
Overtown/Little Haiti/Allapattah - this is all speculative. If you had industrial/commercial spaces, then yes, best % of appreciation is here. For a 1/1 or a 2/2, where do you live? I always tell newcomers when they ask me these questions "Well, I can tell you my wife wouldn't live there" and that's my barometer
Downtown has lots of buildings so you can get a nice place in a great building with amenities, so your money goes further than South Beach and North Beach.
North Beach is a pretty safe bet. That area has no where to go but up. You're banking on local politicians changing zoning and allowing places like Little Haiti to be demo'd and re-built. Miami has a history of it, but it will be a while and you'd have to live there until it happens
This is great! Thanks!
I am living in SoBe right now in a 1/1 renting, but my rent went so high up that it's cheaper to buy. But at the same time I want to buy in a place that is going to see solid appreciation. Here are my thoughts:
SoBe: Currently living here and love my lifestyle. I love that I don't need a car here. But I do have a few concerns, one being how much flooding SoBe will see in the future and the impact on it in regards to real estate. I know all of South Florida is at risk with flooding and rising sea levels, but Miami Beach is going to be the first one that gets hit. My other hit against SoBe, while I love my lifestyle here (beach, walkability, laid back vibe) the tourist vibe and how transient it is gets to me at times. I do like to have a more local flavor wherever I settle.
Btw I live right next to Monad Terrace
North Beach: I am really considering this one close to the walkable areas (in and around 71st Street). I like North Beach that it's a lot more local, with much much less tourists and while not as walkable as SoBe and will need a car, it's still pretty walkable in some parts. But again concerns about flooding is one thing that makes me nervous. But as you said no way to go but up for it. What kind of investments is the city currently doing to North Beach?
Downtown: I feel like this is probably the best financial bet. The area is booming. What I like is just like SoBe, it's completely walkable. What concerns me is the traffic. I feel like it would get annoying especially as it continues to grow. Also, I moved to Miami to get more of the beach/tropical/laid back lifestyle rather than downtown living. If I wanted downtown living I feel like I would have just stayed in Chicago as Chicago does downtown living 10x better than Miami.
Overtown/Little Haiti/Allapattah My concern is that it will never take off. And I am left with something in some rough areas.
Little Havana I feel this is one that I am seriously considering outside of the beach. I moved to Miami because I wanted to be somewhere tropical with beaches, and a place with a Latin/International flair. Well Little Havana doesn't have the beach, but it has lots of Latin/International vibes to it. What I like about it too is that it's pretty well located. You are close to downtown, Brickell, Wynwood, Coconut Grove and Coral Gables. I feel like it's ripe for investment.
MiMo District I am also considering MiMo as I like the vibe, but not sure on it yet.
As of now I think it's really between North Beach, South Beach and Little Havana. I just love the beach lifestyle too much. I may very well end up in SoBe as I just love the walkability factor of it all.
As of now I think it's really between North Beach, South Beach and Little Havana. I just love the beach lifestyle too much. I may very well end up in SoBe as I just love the walkability factor of it all.
I would say South Beach and Brickell are the 2 most walkable areas. Even more so than the Grove.
Sounds like downtown isn't for you. I don't like how empty it gets at night some times, all the homeless, etc. For me, South Beach wins out.
But if you're on a budget and want to make money one day, then North Beach is probably your best bet.
Like you said on the others, if they don't take off, you lived for years with your doors locked hoping nothing gets stolen or broken into in some of those areas (MiMo included).
The city was supposed to completely re-vamp North Beach around 71st, from the tennis courts to the beach. It was budgeted and planned, not sure what the status is so far.
I do love South Beach as well, especially West Ave. The crime has gotten worse over the last few years in SoBe, that's my only worry. But nothing is more walkable in my opinion. You never have to leave 'the island' if you don't want to. In 2010 when I first moved there, publix was the only real chain and the new one was going up in Sunset Harbour. Now you have Trader Joe's, name brand stores up and down Lincoln road, top restaurants, etc. to go along with the lifestyle. Sure the flooding sucks so don't leave your scooter out or it'll get ruined on high tides!
North Beach: I am really considering this one close to the walkable areas (in and around 71st Street). I like North Beach that it's a lot more local, with much much less tourists and while not as walkable as SoBe and will need a car, it's still pretty walkable in some parts. But again concerns about flooding is one thing that makes me nervous. But as you said no way to go but up for it. What kind of investments is the city currently doing to North Beach?
Here's the master plan for NoBe which was approved several years ago:
Of course, the biggest thing affecting North Beach right now is to see what is going to happen to the old Deauville Resort that has been shuttered (and falling apart) since an electrical fire in 2017. The city recently issued a demolition order (which is what the owners have unabashedly been aiming for since the resort was closed), but the Miami Design Preservation League has just filed suit to prevent it.
I would say South Beach and Brickell are the 2 most walkable areas. Even more so than the Grove.
Sounds like downtown isn't for you. I don't like how empty it gets at night some times, all the homeless, etc. For me, South Beach wins out.
But if you're on a budget and want to make money one day, then North Beach is probably your best bet.
Like you said on the others, if they don't take off, you lived for years with your doors locked hoping nothing gets stolen or broken into in some of those areas (MiMo included).
The city was supposed to completely re-vamp North Beach around 71st, from the tennis courts to the beach. It was budgeted and planned, not sure what the status is so far.
I do love South Beach as well, especially West Ave. The crime has gotten worse over the last few years in SoBe, that's my only worry. But nothing is more walkable in my opinion. You never have to leave 'the island' if you don't want to. In 2010 when I first moved there, publix was the only real chain and the new one was going up in Sunset Harbour. Now you have Trader Joe's, name brand stores up and down Lincoln road, top restaurants, etc. to go along with the lifestyle. Sure the flooding sucks so don't leave your scooter out or it'll get ruined on high tides!
Yes of course. Grocery store, bank, Dr offices, post office, restaurants, some shops, beach ,tennis, sports bars...You may get burnt out with the area sooner where as SoBe has enough to keep people occupied for years, in my opinion.
As someone who used to live in high-rise condo on Collins Ave. in North Beach, I'd say it is absolutely walkable. And much moreso than condo canyon in Mid Beach. And if and when you get tired of walking around North Beach, you can hop on the free trolley and take it down to South Beach. Or if you'd like to go farther afield, the Metrobus 120 Beach Max not only goes to South Beach, but it then crosses the MacArthur Causeway and into downtown. And the same bus goes north on Collins through Surfside, Bal Harbour, Sunny Isles, and then across the Lehman Causeway to Aventura Mall.
Although I no longer live there, I thought North Beach was great. And it is only going to get better.
As someone who used to live in high-rise condo on Collins Ave. in North Beach, I'd say it is absolutely walkable. And much moreso than condo canyon in Mid Beach. And if and when you get tired of walking around North Beach, you can hop on the free trolley and take it down to South Beach. Or if you'd like to go farther afield, the Metrobus 120 Beach Max not only goes to South Beach, but it then crosses the MacArthur Causeway and into downtown. And the same bus goes north on Collins through Surfside, Bal Harbour, Sunny Isles, and then across the Lehman Causeway to Aventura Mall.
Although I no longer live there, I thought North Beach was great. And it is only going to get better.
This is 100% accurate as well.
I had a scooter (the real ones, not the sidewalk ones) and used that everywhere in North Beach. Its great for speeding up to Sunny Isles or to South Beach and getting errands done quickly.
Taking the bus to the airport makes traveling easy as well.
Some good tennis options as well.
I always say to people, Miami Beach is what you make of it. If you want to do nothing, do nothing. If you want to be active and play sports, run, walk, jog, paddleboard, boat, etc. you can do that. If you want to party and get wild, you can do that too. IF you want to run a business and make money, there are options. It can be as busy or as laid back as you want it to be, and choosing where to live on the beach is a big factor in that.
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