Edgewater’s Airbnb Condos, Miami: Worth the Investment?

Edgewater, Miami, is a flourishing neighborhood attracting attention from both investors and tourists. With its scenic views, vibrant culture, and proximity to Miami’s top attractions, it’s no wonder that Airbnb condos in Edgewater are gaining popularity. However, do they genuinely represent a worthwhile investment? In this comprehensive guide, we delve into the various aspects that make Edgewater’s Airbnb condos a potential goldmine.

Why Edgewater, Miami is an Attractive Destination

Edgewater is nestled between the bustling downtown Miami and the artsy Wynwood district. This prime location offers the best of both worlds—urban convenience and cultural richness. The neighborhood boasts stunning views of Biscayne Bay, an array of dining options, trendy shops, and cultural landmarks. These factors make Edgewater a hotspot for tourists seeking an immersive Miami experience.

Strategic Location

Edgewater’s proximity to key areas like Downtown Miami, Brickell, and Miami Beach enhances its appeal. Guests can easily explore Miami’s business district, enjoy the nightlife, or relax on the beach, all within a short drive. The neighborhood is also well-connected by public transportation, making it convenient for travelers without a car.

Cultural and Recreational Attractions

Edgewater is home to several parks, museums, and cultural centers. Margaret Pace Park offers green spaces and recreational activities along the waterfront. Art enthusiasts can visit nearby institutions like the Perez Art Museum and the Adrienne Arsht Center for the Performing Arts. The blend of nature and culture makes Edgewater a unique and desirable location for Airbnb guests.

Edgewater Market Trends and Investment Potential

Rising Property Values

The real estate market in Edgewater has been on an upward trajectory. According to recent reports, property values have consistently increased over the past few years. The typical home value in the Wynwood-Edgewater area stands at $653,580, showing a 1.9% rise over the last year. This trend indicates a healthy demand for both residential and rental properties, making it a promising area for investment.

High Rental Demand

Miami’s popularity as a tourist destination ensures a steady demand for short-term rentals. Edgewater, with its appealing amenities and central location, attracts a significant share of this market. According to AirDNA data, Edgewater has 435 available Airbnb listings with an average occupancy rate of 48%. During peak seasons, such as February, the occupancy rate can climb to 60%. Investors can expect high occupancy rates, particularly during peak tourist seasons.

Favorable Regulations

Miami has relatively favorable regulations for short-term rentals compared to other major cities. This regulatory environment allows Airbnb hosts in Edgewater to operate with fewer restrictions, enhancing the profitability of their investments. However, staying updated on local regulations is essential to ensure compliance and avoid potential legal issues.

• A Comprehensive Guide to Navigating Short-Term Rental Regulations in Miami and Miami Beach
• Understanding South Beach Short-Term Rental Regulations
• City of North Miami Beach, Florida, Vacation Rental Rules
• Sunny Isles Beach Short-Term Vacation Rental Regulations

Financial Considerations of Investing in Edgewater’s Airbnb Condos

Initial Investment and Financing

Investing in an Edgewater condo requires a substantial initial investment. However, various financing options are available to ease the burden. Prospective buyers should explore mortgage options and consider the potential return on investment (ROI) before committing.

Operational Costs

Operating an Airbnb involves ongoing expenses such as property maintenance, cleaning services, utilities, and insurance.It is crucial to account for these expenses when estimating potential profits. Additionally, hiring a property management service can streamline operations but will incur additional fees.

Revenue Potential

The revenue potential of an Edgewater Airbnb condo is influenced by several factors, including location, property size, and amenities. According to AirDNA, the average daily rate (ADR) for an Airbnb in Edgewater is $232.8, with the maximum daily rate in February reaching $281. The average revenue for an Airbnb listing in this area is approximately $36.5K annually. The maximum monthly revenue peaks in March at $3,900. The Revenue Per Available Room (RevPAR) stands at $122.3, with weekend RevPAR significantly higher at $236. By providing an exceptional guest experience, hosts can attract repeat bookings and positive reviews, further boosting their income.

Challenges and Risks for Edgewater Airbnb Investors

Market Competition

While Edgewater is a desirable location, it also faces competition from other Miami neighborhoods. Investors must offer unique value propositions to stand out in a saturated market. High-quality photos, detailed descriptions, and exceptional customer service are crucial for attracting bookings.

• Why Miami Airbnb Offers a Promising Investment Opportunity
• Investing in Airbnb Properties in Little Havana
• Investing in Brickell Airbnb Properties for Maximum Profit

Seasonal Fluctuations

Miami’s tourist demand fluctuates with the seasons. While winter months see a surge in visitors escaping colder climates, the summer months may experience a dip. Investors should plan for these variations and implement pricing strategies to maintain occupancy year-round. According to AirDNA, February is the best month for revenue generation, making it crucial to capitalize on peak seasons.

Regulatory Changes

Although Miami currently has favorable short-term rental regulations, these can change. Investors must stay informed about local laws and be prepared to adapt their strategies accordingly. Engaging with local real estate experts and legal advisors can help navigate any regulatory shifts.

Maximizing Your Edgewater Airbnb Investment

Enhancing Property Appeal

To maximize occupancy and revenue, it’s essential to make your Edgewater condo stand out. According to AirDNA data, the most popular amenities in Airbnb listings include wired internet (98%), air conditioning (97%), wireless internet (95%), and a fully equipped kitchen (88%). Investing in these amenities will significantly enhance your property’s appeal.

Essential Amenities

• Internet Connectivity: Offering both wired and wireless internet is crucial, as high-speed internet ensures guests can stay connected, which is vital for both leisure and business travelers.
• Climate Control: Ensure your condo has reliable air conditioning and heating to meet the needs of Miami’s climate.
• Kitchen Facilities: Stock your kitchen with modern appliances, cookware, and utensils to attract guests who prefer the convenience of cooking their own meals.

Convenience and Comfort

• Laundry Facilities: Having in-unit laundry facilities can be a significant draw for longer-term guests, allowing them to manage their laundry needs easily.
• Parking: Secure, assigned parking gives guests peace of mind, especially in a busy city like Miami.

Leisure and Luxury

• Pool and Hot Tub: These amenities if present in the building can be major selling points, providing relaxation and a touch of luxury for guests.
• Cable TV: Enhances the overall guest experience, especially for families or those who enjoy unwinding with their favorite shows.

Modern and Thoughtful Touches

• High-Quality Furnishings: Invest in comfortable and stylish furnishings to create a welcoming atmosphere.
• Smart Technology: Equip your condo with smart TVs, smart locks, and other modern conveniences for added security and ease of use.

By investing in these key amenities and ensuring your property is well-furnished and thoughtfully decorated, you can significantly enhance the guest experience. This will help your Edgewater condo stand out, drive higher occupancy rates, and increase revenue.

Effective Marketing Strategies

Leveraging digital marketing strategies is crucial for attracting guests. Optimize your Airbnb listing with SEO-friendly descriptions, high-resolution photos, and positive guest reviews. Utilize social media platforms and travel blogs to reach a broader audience. Collaborating with local influencers can also boost your property’s visibility.

Guest Experience and Reviews

Providing exceptional customer service is key to securing positive reviews and repeat bookings. Ensure smooth check-in and check-out processes, maintain clear communication with guests, and promptly address any issues. Small touches like welcome baskets or local guides can leave a lasting impression and encourage guests to recommend your property.

Edgewater’s Airbnb Condos Worth the Investment

	Emilia Edgewater	Opera Tower	The Grand	Aria Reserve	Vida Residences
Location	481 NE 29th Street, Miami, FL 33137	1750 N Bayshore Dr, Miami, FL 33132	1717 North Bayshore Drive, Miami, FL 33132	700 NE 24th Street, Miami, FL 33137	410 NE 35th Terrace, Miami, FL 33137
Units Available for Sale	30	63	20	N/A	3
Units Available for Rent	N/A	72	42	N/A	N/A
Number of Units	30	635	810	782	121
Number of Stories	7	56	42	60	9
Year Built	2019	2007	1986	2025	2025
Average Price / Sq Ft	$553	$557	$495	N/A	$1,334
Average Association Fee	$0.89 / sq ft / month	$1.16 / sq ft / month	$0.71 / sq ft / month	N/A	$1.45 / sq ft / month
Walk Score®	86 (Very Walkable)	93 (Walker’s Paradise)	89 (Very Walkable)	85 (Very Walkable)	92 (Walker’s Paradise)
Transit Score®	56 (Good Transit)	81 (Excellent Transit)	81 (Excellent Transit)	64 (Good Transit)	57 (Good Transit)
Bike Score®	68 (Bikeable)	87 (Very Bikeable)	84 (Very Bikeable)	72 (Very Bikeable)	74 (Very Bikeable)
Rental Policy	Daily rentals allowed, no restrictions	30-day minimum stay, 12 times per year	30-day minimum stay, 12 times per year	30-day minimum stay, 4 times per year	Flexible short-term rental program
Developer	Massimo Nicastro	Florida East Coast Realty, Inc	Tibor Hollo	Melo Group	Urbana Holdings
Architect	Revuelta Vega Leon	Corradino Group Architect	N/A	Arquitectonica	KOBI KARP
Interior Designer	N/A	N/A	N/A	MORADA Haute Furniture Boutique	Euro Design Group
Landscape Designer	N/A	N/A	N/A	ArquitectonicaGEO	N/A
Pets Policy	Pets OK for Owners & Renters, Large Pets Allowed for Owners	Pets OK for Owners & Renters, Large Pets Allowed for Owners	Pets OK for Owners & Renters, Large Pets Allowed for Owners	Pets OK for Owners, Large Pets Allowed for Owners	Pets OK for Owners

Emilia Edgewater: A Prime Example

One of the standout properties in Edgewater is the Emilia Edgewater, located at 481 NE 29th Street, Miami, FL 33137. This modern condominium offers an array of luxurious units, making it a prime example of what Edgewater has to offer. With prices ranging from $249,000 to $560,000, Emilia Edgewater caters to a variety of investors.

Prime Details and Features

Designed by the renowned architectural firm Revuelta Vega Leon and developed by Massimo Nicastro, Emilia Edgewater epitomizes modern luxury and sophistication. The condominium is situated in the vibrant neighborhood of Edgewater, which is known for its bustling atmosphere and scenic beauty.

Emilia Edgewater comprises 30 units spread across 7 stories, built in 2019. The units range in size from 777 to 1,444 square feet, with an average price of $553 per square foot. The low average association fee of $0.89 per square foot per month adds to its appeal, making it an economically attractive option.

Living Experience

Living at Emilia Edgewater means experiencing the pinnacle of luxury and convenience. Each residence is adorned with high-quality Italian finishes and materials, giving it a sleek and modern look. The porcelain gres tiles add to the aesthetic appeal while being durable and easy to maintain.

The contemporary Italian kitchens and bathrooms are designed for both style and functionality, equipped with stainless steel appliances that are perfect for those who love to cook and entertain. Each unit also includes a washer and dryer, ensuring that residents can handle their laundry needs conveniently.

Connectivity is ensured with cable and internet available in every unit. Additionally, each residence comes with assigned parking, providing both convenience and security.

Amenities

The amenities at Emilia Edgewater are designed to enhance the lifestyle of its residents:

• Elevator and Trash Chute: Practical amenities such as elevators and trash chutes ensure daily convenience.
• Garage Parking: Secure, covered parking is available in the garage, protecting vehicles from the elements.

The condo’s general amenities include central heating and cooling, dishwashers, and spacious walk-in closets, all aimed at providing comfort and convenience.

Pet-Friendly Policies

Emilia Edgewater is welcoming to pet owners. Both owners and renters can have pets, with large pets allowed for owners. This flexibility ensures that the property appeals to a broader range of potential tenants, including those with furry friends.

Rental Policy

Emilia Edgewater stands out for its flexible rental policy. Units can be rented on a daily basis without any restrictions, making it an ideal choice for investors looking to capitalize on short-term rental opportunities through platforms like Airbnb.

Emilia Edgewater is not just about luxurious living spaces; it is about creating a community that embodies modern urban living. The combination of stylish residences, practical amenities, and a vibrant neighborhood makes it an excellent investment for those looking to enter Miami’s thriving Airbnb market. The meticulous design and thoughtful features ensure that Emilia Edgewater stands out as a premier choice in Edgewater.

Opera Tower: A Landmark of Luxury

Another notable property in Edgewater is the Opera Tower, located at 1750 N Bayshore Dr, Miami, FL 33132. This iconic high-rise offers an exceptional living experience with a range of units available for both sale and rent. With 63 units available for sale and 72 units available for rent, Opera Tower presents numerous opportunities for investors.

Prime Details and Features

Opera Tower, developed by Florida East Coast Realty, Inc and designed by the Corradino Group Architect, is a 56-story landmark with 635 units. Built in 2007, the tower offers units ranging in size from 401 to 1,048 square feet, with prices varying from $219,000 to $700,000. The average price per square foot is $557, and the average association fee is $1.16 per square foot per month.

Rental Policy

Opera Tower has a rental policy requiring a 30-day minimum stay, with rentals allowed up to 12 times a year. This policy provides a balance between flexibility and maintaining a stable, long-term residential environment.

Living Experience

Opera Tower provides an extraordinary living experience with a range of luxurious features:

• 24/7 Security and Concierge Service: Residents enjoy peace of mind with round-the-clock security and concierge services.
• Supervised Garage Parking: Each residence has access to supervised garage parking, along with 24/7 valet service.
• Dramatically Designed Lobby: The lobby boasts a dramatic design with a 20-foot high ceiling, creating a grand entrance.
• Fully-Equipped Fitness Center: The state-of-the-art fitness center is equipped with cardio and weight training equipment.
• Clubroom and Media Room: Residents can relax or entertain guests in the clubroom and media room.
• Oversized Swimming Pool and Multiple Whirlpool Spas: The pool area includes an oversized swimming pool and multiple whirlpool spas for relaxation.
• Business Center: A fully-equipped business center is available for residents who need to work from home.
• On-Site Amenities: Additional on-site amenities include dry cleaners, a beauty salon, a gourmet market, and an outdoor grotto café.
• Preferential Consideration at Sea Isle Marina & Yachting Center: Located across the street, residents receive preferential consideration at the Sea Isle Marina & Yachting Center.

Residence Features

The residences at Opera Tower are designed with modern conveniences and luxurious finishes:

• Floor-to-Ceiling Solar Tint Sliding Glass Doors: Each unit features floor-to-ceiling sliding glass doors with solar tint.
• Spacious Wraparound Balconies: The units have spacious wraparound balconies offering stunning views.
• Pre-Wired for Digital Satellite Cable and High-Speed Internet: Each residence is pre-wired for digital satellite cable and high-speed internet access.
• Granite Countertops and Custom European Cabinetry: The kitchens are equipped with granite countertops and custom European cabinetry.
• Stainless Steel Appliances: High-end stainless steel appliances are standard in each unit.
• Unit Conveniences: Additional conveniences include central heating and cooling, electric heat, dishwashers, washers and dryers, and walk-in closets.

Opera Tower represents the epitome of luxurious urban living, combining stylish residences with a wide range of amenities. Its strategic location, exceptional design, and comprehensive facilities make it a prime investment opportunity in Edgewater. Whether you’re looking to buy or rent, Opera Tower offers a high-quality living experience that caters to modern urban lifestyles.

The Grand: A Timeless Icon

Another exceptional property in Edgewater is The Grand, located at 1717 North Bayshore Drive, Miami, FL 33132. This distinguished high-rise offers a unique blend of luxury, convenience, and stunning bay views. With 20 units available for sale and 42 units available for rent, The Grand presents a variety of investment opportunities.

Prime Details and Features

Developed by Tibor Hollo, The Grand is a 42-story building with 810 units. Built in 1986, the units range in size from 985 to 2,958 square feet, with prices ranging from $427,000 to $1,500,000. The average price per square foot is $495, and the average association fee is $0.71 per square foot per month.

Rental Policy

The Grand enforces a rental policy that mandates a minimum stay of 30 days, allowing up to 12 rental periods per year. This approach ensures a balance between providing rental flexibility and maintaining a stable residential community.

Living Experience

Living at The Grand offers an unparalleled experience with a host of luxurious features:

• Bay Views from Most Units: Most units provide breathtaking bay views, enhancing the living experience.
• Wall-to-Wall, Floor-to-Ceiling Glass: The units feature wall-to-wall, floor-to-ceiling glass, allowing natural light to flood the spaces.
• Spacious Private Balconies: Each unit includes spacious private balconies, perfect for enjoying the views and Miami weather.

The residences are equipped with modern conveniences such as central heating and cooling, electric heat, dishwashers, washers and dryers, and walk-in closets, ensuring a comfortable and luxurious living environment.

Building Amenities

The Grand offers an array of amenities designed to enhance the lifestyle of its residents:

• Pet-Friendly: The building is pet-friendly, accommodating both owners and renters with pets.
• Picnic Area: A designated picnic area is available for residents to enjoy outdoor meals.
• Marina: The on-site marina provides direct water access, catering to boating enthusiasts.
• Heated Pool, Sauna, and Spa Hot Tub: Residents can relax in the heated pool, sauna, and spa hot tub.
• Exercise Room: A well-equipped exercise room is available for fitness enthusiasts.
• Office Spaces Available: Office spaces are available for residents who need a dedicated workspace.

The Grand’s waterfront location offers stunning bay front views, and water access is available through a dock and marina. Additional amenities include a bar, picnic area, business center, elevators, and trash chute. Parking options include garage, covered, and valet services.

The Grand is a symbol of timeless luxury and convenience, offering a high-quality living experience with an array of amenities and stunning bay views. Its strategic location in the Arts & Entertainment District, exceptional design, and comprehensive facilities make it a prime investment opportunity in Edgewater.

Aria Reserve: Pre-Construction Luxury Living

Aria Reserve is a highly anticipated pre-construction development located at 700 NE 24th Street, Miami, FL 33137. Set to redefine luxury living in Edgewater, this impressive project is poised to become a landmark in the area. With 782 units spread across 60 stories, Aria Reserve promises an exceptional living experience, scheduled for completion in 2025.

Prime Details and Features

Aria Reserve is developed by the renowned Melo Group and designed by the acclaimed architectural firm Arquitectonica. The interiors are crafted by MORADA Haute Furniture Boutique, and the landscape is designed by ArquitectonicaGEO. This combination ensures a high level of sophistication and quality.

Living Experience

Aria Reserve offers a range of luxurious amenities designed to provide residents with an unparalleled living experience:

• Waterfront Location: Situated on the waterfront, Aria Reserve offers stunning ocean views and easy access to the water.
• Water Access: Residents will enjoy ocean access, a dock, and a marina, catering to boating enthusiasts.
• Pools and Spas: The development features multiple pools, including private pools, as well as spas and cabanas for relaxation.
• General Amenities: Amenities include a picnic area, child play area, club room, and elevators to ensure convenience and enjoyment for all residents.
• Sport/Fitness: Sports enthusiasts will appreciate the basketball court, exercise room, and tennis courts.

Residence Features

Each unit at Aria Reserve is designed with modern conveniences and luxurious finishes to enhance the living experience:

• Central Heat and Cooling: Ensures comfort throughout the year.
• Dishwasher: Modern dishwashers included in each unit.
• Washer and Dryer:  In-unit laundry facilities enhance convenience for residents.

Rental Policy

Aria Reserve has a rental policy that allows for 30-day minimum stays, up to four times per year. This policy offers a balance between rental flexibility and maintaining a stable residential community.

Accessibility and Lifestyle

• Walk Score®: 85 (Very Walkable): Conveniently located for easy access to nearby shops, restaurants, and parks.
• Transit Score®: 64 (Good Transit): Good access to public transportation.
• Bike Score®: 72 (Very Bikeable): The area is also well-suited for biking.

Aria Reserve is poised to offer an exceptional living experience in Edgewater, blending luxurious amenities, modern conveniences, and a prime waterfront location. This development represents a significant investment opportunity for those looking to capitalize on Miami’s thriving real estate market.

Vida Residences: Pre-Construction Modern Living

Vida Residences is an exciting pre-construction development located at 410 NE 35th Terrace, Miami, FL 33137. Slated for completion in 2025, this innovative project offers a fresh approach to luxury living and investment in Edgewater. With 121 units spread across 9 stories, Vida Residences promises a unique blend of modern design and flexible rental opportunities.

Prime Details and Features

Vida Residences is developed by Urbana Holdings and designed by the esteemed architectural firm KOBI KARP. The interiors are crafted by Euro Design Group, ensuring high standards of luxury and elegance.

Living Experience

Vida Residences offers a host of amenities designed to enhance the living experience of its residents:

• Pool and Spa: The development includes a pool, heated pool, sauna, spa/hot tub, and cabanas, providing a perfect setting for relaxation and leisure.
• General Amenities: Residents will have access to a bar, picnic area, business center, club room, common laundry, elevators, and extra storage. The facility also includes kitchen facilities for communal use.
• Sport/Fitness: An exercise room is available for those who enjoy staying active.

Residence Features

Each unit at Vida Residences is designed to offer modern conveniences and luxurious finishes:

• Central Heat and Cooling: Ensures a comfortable living environment throughout the year.
• Dishwasher: Modern dishwashers are included in each unit.
• Washer and Dryer:Having laundry facilities within the unit adds significant convenience for residents.

Rental Policy

Vida Residences brings Edgewater its first flexible rental options, crafted for effortless living and appealing to both investors and digital nomads. Developed by Urbana Holdings, these residences feature a unique short-term rental program by FlexShare. Using FlexShare, owners can split their residences into two and rent both sides simultaneously or each side separately, turning unused nights into income. Owners can also directly list their units on platforms like Airbnb, Bueno, or Expedia.

Accessibility and Lifestyle

• Walk Score®: 92 (Walker’s Paradise): This prime location offers easy access to a variety of shops, restaurants, and parks.
• Transit Score®: 57 (Good Transit): The area is well-served by public transportation.
• Bike Score®: 74 (Very Bikeable): The neighborhood is conducive to biking.

Parking and Convenience

Vida Residences offers various parking options, including a garage, covered parking, and valet services, ensuring convenience for residents and their guests.

Vida Residences is set to offer an exceptional living experience in Edgewater, combining luxurious amenities, modern conveniences, and a flexible rental policy that caters to diverse lifestyles. This development represents a significant investment opportunity, promising high returns in Miami’s thriving real estate market.

Conclusion: Is It Worth the Investment?

Investing in Edgewater’s Airbnb Condos, Miami, presents a compelling opportunity for those looking to capitalize on the city’s tourism boom. The neighborhood’s strategic location, rising property values, and high rental demand make it an attractive investment. However, success requires careful planning, market knowledge, and a commitment to providing an exceptional guest experience.

By considering the financial aspects, staying abreast of market trends, and implementing effective marketing strategies, investors can maximize their returns and enjoy the benefits of owning a profitable Airbnb property in one of Miami’s most vibrant neighborhoods.