Miami
General area shown. The exact address and Airbnb-approved building are shared under NDA when you reserve or book a call.
Miami, FL1BR1BA700 sqft$2,400/mo lease
Worth acquiring. The numbers clear our bar with room to spare.
Operating profit, before the one time startup capital, which the ROI and payback above already account for.
Executive summary
This is one of the few genuinely favorable STR positions in the City of Miami: the subject sits in a purpose-built, Airbnb-approved condo tower (Miami, in the District 225 / Natiivo / Worldcenter cluster) inside a T6 zone where lodging is permitted — legal footing that most City of Miami condos simply cannot claim. Live comps in the immediate 0.3-mile ring confirm premium per-night pricing at or above the model's ADR, and the address is walkable to Bayfront Park (Ultra, FIFA Fan Fest) and Kaseya Center, giving it repeatable event-driven pricing power that hotels can't fully capture with a sleeps-four layout. The offsetting reality is supply: District 225, Natiivo, The Crosby, 501 First and a heavy 2026–2027 downtown pipeline are stacking near-identical amenity-rich units into the same blocks, so occupancy and pricing are supply-pressured and the blended-year economics sit closer to a solid-but-not-effortless cash-flow play than a runaway winner. Two diligence gates dominate the decision: the lease must explicitly permit STR (intake is UNSURE) and the full license stack plus mandatory building resort fees ($35–43/night) must be underwritten before committing. Net read: strong per-night and legal fundamentals with real supply and rent sensitivity — worth pursuing conditional on the lease/permit confirmations. Note: Comp ADRs shown are base nightly rates. Y1 Net calculations include separate cleaning fee revenue from Revarity locked constants.
The money model
Three honest scenarios: bear (conservative), base (realistic), and bull (stretch). Base is what we underwrite to.
These come from our standard market read. The deep comp shop found 2 usable listings, under the 6 we require before a comp shop is allowed to set the numbers.
Seasonal demand & event calendar
What drives the peaks: named local demand catalysts.
Live comps: what the market actually shows
7 of 9 listings left out, their nightly rate wasn't clear
- FIFA/event-oriented location
- resort-style building amenities
- walkable to Worldcenter & transit
- no-party/quiet-building policy
- prime downtown location
- luxury amenity package
- new/modern finishes
- MLK-weekend event pricing observed
- walk to Bayfront/Metromover
- central downtown
- price shown all-in incl taxes (excluded from ADR median)
- Superhost (Palermo Home Miami)
- new listing
- free parking highlighted
- skyline views
- central legal-district location
- modern furnished residence
- sleeps 4 (queen + sofa bed)
- building amenity package
- stay-and-play building
- steps to Brightline/Worldcenter
- concert & Heat-game base
- business/remote-work ready
- exact subject-building peer
- 3.5-star apartment tower
- outdoor pool + gym
- sleeps 4
- clean/new/modern
- responsive host
- great for Ultra/festivals
- smart-building tech learning curve
- exceptional 9.6/10 rating
- resort amenities
- walk to Bayfront/Kaseya
- mandatory $43.51/night resort fee
- 3BR — not bed-matched, excluded from medians
- Worldcenter next-door location
- rooftop pool with hot tub
- clean & well-maintained
- professionally managed
Amenities: what it has, what it's missing
Amenities the top comps have that this unit is missing, ranked by revenue impact.
District 225, The Crosby and Natiivo all market co-working and business-traveler appeal; a proper desk, chair, monitor and verified fast Wi-Fi captures Brightline/Worldcenter corporate and remote-work mid-stays that smooth summer troughs.
Comps prominently advertise 'free parking'/valet while the subject intake lists parking as not included; a pre-arranged garage pass or partner valet rate removes a common booking objection for drive-in and cruise guests.
Universal across the comp set and effectively table stakes at this price tier; without it the unit under-indexes on the amenity filters guests sort by.
Winning comps sleep 4 (king/queen + sofa bed) and lean into group/event bookings; matching that plus hotel-grade linens widens the addressable group demand hotels can't serve.
The building is already keyless but reviews cite check-in confusion; a clear digital arrival guide and in-unit lockbox reduce friction and protect review scores.
Cost, ADR lift and rate targets are estimates derived from the live comp set. Advisory only, never part of the verdict, tier, or Year 1 math.
Regulatory & landlord read
Is short term rental legal here, and who owns/manages the building.
City of Miami — Miami 21 Zoning Code (lodging permitted in T5/T6/CI-HD transect zones; subject sits in downtown/Park West T6); Miami-Dade County Code §33-28 & civil-penalty Ch. 8CC; Florida DBPR Ch. 509 F.S. vacation-rental license. Sources: https://www.miamidade.gov/building/standards/residential-short-term-vacation-rentals.asp ; https://www.miami.gov (Miami 21)
Pending: Florida SB 280 (statewide STR registration + preemption expansion) was vetoed June 2024; prior framework continues into 2026; City of Miami and Miami-Dade County publicly examining tighter STR regulation in 2026 (monitor)
[Cached: 2026-07-02] YOTELPAD is STR-permissive and purpose-built for transient occupancy, but City of Miami code enforcement in the broader Downtown submarket creates compliance risk.
Seasonal pricing rate card
Suggested ADR targets by season and the named local events that drive the peaks.
| Period | ADR target | Min stay | Note |
|---|---|---|---|
| Art Basel / Miami Art Week (early Dec) | $500–700 | 3 nights | Citywide peak; book 4–6 months out and hold firm. |
| Ultra Music Week (late Mar) | $550–800 | 3–4 nights | Bayfront Park is walkable — the single best event window for this address. |
| FIFA World Cup (Jun 13–Jul 6, 2026) | $450–650 | 3 nights | Fan Fest at Bayfront + matches at Hard Rock; international demand. |
| F1 Grand Prix / Miami Open (early May / mid-late Mar) | $400–550 | 3 nights | Motorsport + tennis premium weekends. |
| Winter high-season weekend (Jan–Mar) | $350–450 | 2 nights | Snowbird + cruise season; strong baseline. |
| Winter/shoulder weekday | $250–320 | 2 nights | Corporate/Brightline mid-week base; respects downtown hotel ceiling. |
| Summer weekday (Jul–Sep, non-event) | $190–250 | 2 nights | Soft season — lean on cruise pre/post and mid-stays. |
Cost, ADR lift and rate targets are estimates derived from the live comp set. Advisory only, never part of the verdict, tier, or Year 1 math.
Neighborhood trajectory
Where this submarket is heading: capital, prices, and the ADR ceiling.
The long-run trajectory is genuinely positive — Worldcenter build-out, Brightline connectivity and a durable global-event calendar anchor demand — but the same construction boom is flooding the immediate submarket with near-identical STR-flexible, amenity-rich units, a clear near-term headwind to occupancy and pricing power.
- Okan Tower (Miami, Park West — 399 units, 70+ floors) (under construction, ~2027)
- Waldorf Astoria Residences Miami (Miami — 387 units, 100 floors) (under construction, ~2027)
- Casa Bella Residences (Downtown — STR-friendly) · $1.1M–5M unit pricing (delivering ~2026)
- Miami (Arts District — 306 units, 57 floors) (delivering ~2026)
- District 225 / Natiivo / The Crosby / 501 First (STR-flexible towers) (delivered — saturating the immediate cluster)
The analyst's take
Rare legally-approved STR tower with strong per-night economics — pursue, but confirm the lease STR clause and respect a supply-heavy submarket
- Purpose-built Airbnb-approved tower = rare legal footing vs most City of Miami condos
- Walk-to-Bayfront: Ultra, FIFA Fan Fest and Kaseya event-weekend premiums
- Brightline + Worldcenter drive a year-round corporate/mid-stay base to smooth summer troughs
- Sleeps-4 layout captures groups hotels can't match; multi-night event minimums lift RevPAR
- Lease may not permit STR (intake UNSURE) — deal-breaker until confirmed in writing
- Heavy new-supply pipeline in the 0.5mi core pressures occupancy and ADR
- Mandatory building resort/daily fees ($35–43/night) sit outside the model and erode effective margin
- City of Miami STR framework is licensing-heavy with tightening risk
- Blended-year ADR sits near the GREEN/AMBER cash-flow boundary — rent-sensitive
What guests say: POSITIVE THEMES (across ~18 reviews): - Cleanliness & newness: guests repeatedly call the units clean, modern and well-appointed with thoughtful welcome packs. - Location: consistent praise for walkability to Bayfront, Bayside, Kaseya Center, Metromover and Brightline. - Event base: multiple reviews specifically cite convenience for Ultra Music Festival and downtown events. - Host responsiveness: professionally managed listings get high marks for fast, easy communication and smooth check-in. NEGATIVE / WATCH THEMES: - Smart-building learning curve: keyless/no-button elevators and app-based entry confuse some older or less tech-savvy guests. - Front-desk / ID registration friction: mandatory ID handoff and building registration add a step at arrival. - Mandatory building fees: $35–43.51/night resort/daily fees and $25–75/day parking surprise guests and pressure value perception. - Transient/quiet-building tension: strict no-party enforcement is a plus for neighbors but a mismatch for group-party bookers.
Risk & compliance checks
Every deal breaker we screen, scored on this property.
No pest, bed bug, roach, or infestation complaints found across Yelp, TripAdvisor, or building reviews in the last 24 months.
Downtown Miami earns a B/B- crime grade but sits 62–83% above national average; a guest review mentions occasional unhoused individuals near the building entrance.
Airbnb has a dedicated building page for Miami; multiple active 1BR listings confirmed, high ratings, positive reviews with no structural building complaints.
[Cached: 2026-07-02] Projected STR ADR floor of ~$134 sits comfortably below the $269 Downtown Miami/Brickell hotel ADR benchmark.
Asking rent of $2,400/mo is at the very low end of the YOTELPAD rental range; comp data suggests market for 1BR units runs $2,400–$3,700/mo.
No landlord LLC name provided; no eviction filings, PACER records, or adverse management history found specific to this unit's owner.
YOTELPAD's 231 STR-designed condo units within the same building create meaningful within-building supply saturation in the 0.25mi radius.
[Cached: 2026-07-02] Five-plus named, quantified demand drivers within 5mi confirmed; Downtown Miami / Brickell is Miami's strongest STR demand node.
[Cached: 2026-07-02] MIA east-flow departure corridor and Downtown Miami nightlife and event venues create ambient noise risk; YOTELPAD's floor-to-ceiling windows are impact-rated.
[Cached: 2026-07-02] ~4,254 units in Brickell's pipeline delivering 2025–2028 — far above the 300-unit major-risk threshold; supply pressure is a high-severity risk to occupancy.
Tier 3 — not run. Trigger 'Go Deeper' to add this domain.
Tier 3 — not run. Trigger 'Go Deeper' to add this domain.
Sources: every figure links back (25)
Open any to verify the data yourself.
- 01TripAdvisor — YOTELPAD Miami · "for only two people, it's the best bang for the buck in terms of location, size of room, cleanliness, and amenities"
- 02Casiola — YOTELPAD Unit 2103 Guest Reviews · "This was a great stay, and the apartment is pretty awesome (spot clean), and just as advertised"
- 03CrimeGrade.org — Downtown Miami · "Downtown Miami ranks in the 65th percentile for safety, meaning it is safer than 65% of neighborhoods"
- 04DoorProfit — Downtown Miami Crime 2026 · "The overall crime index is 162, which is 62% above the national average."
- 05DoorProfit — Miami ZIP Crime Score · "The Miami zip code is located in Miami, FL. With a crime score of A-, this area has very low crime"
- 06Airbnb — Miami Condominium Building Page · "It's a modern condo tower in the heart of downtown Miami with hotel-style amenities, including a rooftop pool and a fitness center, designed for travelers and short-term stays."
- 07Redfin — Miami Unit 2412 · "This unit is perfect for investors, already listed on a short-term rental platform for immediate income potential."
- 08Cached from prior Revarity research · 2026-07-02
- 09Redfin — Miami Building Rentals · "$2,399-$3,719/mo · 0-2 Beds · 1-2 Baths · 539-1,Miami Ft."
- 10CondoBlackBook — YOTELPAD Unit 2601 · "1bed/1bath (445sf) unit can be rented through Airbnb"
- 11StepInsideWithMe — YOTELPAD Miami · "NO RENTAL RESTRICTIONS allowing the buyer to have the freedom to optimize his rental capacity"
- 12Miami Prime Management — YOTELPAD · "We are a local property management company specialized in individually owned units at the YotelPad Miami building"
- 13Miami Condo Investments — YOTELPAD · "YotelPad Miami is a new building developed by Aria Development Group and Aqarat"
- 14Miami Condo Lifestyle — YOTELPAD · "Yotelpad Miami has 453 total units including 222 hotel rooms and 231 condo rooms ranging from studio to two-bedroom floorplans"
- 15Apartments.com — Miami · "Miami is within 3 minutes or 0.2 mile from Miami Dade College, Wolfson"
- 16VRBO comp #1 · Luxury WTC Condo | Pool, Hot Tub & Movie Theater (The Crosby, Miami Worldcenter)
- 17Expedia comp #2 · Luxury Resort-style Condo at District 225 Miami
- 18Booking comp #3 · Miami Downtown Condos (near Bayfront/Metromover)
- 19Airbnb comp #4 · District 225 Modern Downtown Free Parking
- 20Airbnb comp #5 · Modern 1 Master Bedroom at District 225 #2302
- 21Airbnb comp #6 · District 225 New & Modern Near Miami Worldcenter
- 22Expedia comp #7 · Miami - Unit 1703 (subject building)
- 23VRBO comp #9 · Elegant 3BR | Rooftop Pool | Walk to Bayfront (Natiivo Miami)
- 24Booking comp #10 · 501 First Miami Worldcenter by Palermo Home
- 25STR ordinance / regulation
Figures shown are modeled projections from our analysis engine, not guarantees. Verify everything before committing. Some listing data provided by RentCast.
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