Wynwood Art District
General area shown. The exact address and Airbnb-approved building are shared under NDA when you reserve or book a call.
Miami, FL3BR3BA1,222 sqft$5,019/mo lease
Worth acquiring. The numbers clear our bar with room to spare.
Operating profit, before the one time startup capital ($37,538), which the ROI and payback above already account for.
Executive summary
Wynwood is one of Miami's genuinely strong urban STR submarkets — walkable art-district demand, a dense event calendar (Art Basel, Miami Music Week/Ultra, III Points), and a hotel ceiling high enough that a well-run 3BR sleeping eight clears our bar with room to spare on strong per-night economics. The subject's amenity stack (rooftop pool, hot tub, coworking with private conference rooms, EV charging, on-site Starbucks and mini-market) is materially richer than anything in the operating comp set, which supports pricing at the top of the 3BR band and a real ADR premium. The dominant risks are not demand but supply and regulation: Wynwood has a heavy near-term condo/multifamily pipeline (much of it explicitly STR-flexible), the subject building itself is a 318-unit lease-up carrying high current vacancy and two-months-free concessions, and City of Miami STR legality is zone- and permit-contingent (T5/T6 lodging use plus a DBPR license, county Certificate of Use, and city Business Tax Receipt all active at once), with enforcement intensifying and the county occupancy cap fixed at eight for a 3BR — exactly the subject's ceiling, so there is no headroom to add guests. Net: I would lease and operate this unit provided the lease's STR permission and the building's lodging-use Certificate of Use are confirmed in writing and the full permit stack is in hand; it is a strong, differentiated cash-flow play whose margin is most sensitive to effective rent and the incoming supply wave. 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 5 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
- Walkable to Wynwood Walls, bars & galleries
- Comfortable beds, good group space
- Ample parking a plus
- Occasional street/nightlife noise
- Exceptional cleanliness (9.6/10)
- Spacious for groups of 8
- Great outdoor/gazebo space
- Central to Design District & Wynwood
- Unbeatable Wynwood location
- Clean, modern unit
- Easy self check-in
- Nightlife noise on weekends
- Good location near Wynwood
- Value pricing
- Mixed reviews on service/cleanliness
- Strict quiet hours (10pm-6am)
- Good value vs Wynwood core
- Convenient for hospital/stadium visitors
- Quieter residential feel
- Short drive to Wynwood Walls
- Brilliant Wynwood location
- Comfortable bedrooms & communal space
- Good for groups
- Low review score (5.0/10)
- Only one bathroom for 8 guests
- Sparse recent booking activity
- Budget positioning
- Same unit as rank 1/6 across platforms
- Walk to Midtown shops & Wynwood Walls
- Wonderful group stays
Amenities: what it has, what it's missing
Amenities the top comps have that this unit is missing, ranked by revenue impact.
Roughly 40% of the operating comps (Wynwood House, Happy House, several Vrbo units) accept pets, while the subject currently does not. In a dog-heavy Miami market this opens an under-served booking segment.
Comps lean on private outdoor space (gazebo/BBQ, terraces) as a differentiator; the subject has a balcony but should furnish it with quality seating to compete on the same 'private outdoor' hook.
A few comps advertise 70-inch home theaters; a large smart TV plus streaming/console differentiates for families and group stays and photographs well.
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 (short-term/lodging use permitted in transect zones T4, T5, T6 and CI-HD; restricted in T3); Miami-Dade County Code of Ordinances §33-28 (occupancy & registration). Refs: https://www.miamidade.gov/building/standards/residential-short-term-vacation-rentals.asp ; Miami 21 interactive zoning map at miami21.org
Pending: FL SB 280 (statewide STR registration/preemption expansion) vetoed June 2024 — prior framework continues into 2026; City of Miami & Miami-Dade examining tighter STR regulations; Ongoing 'Apartment Hotel'/'Condo Hotel' lodging-use classification litigation in City of Miami
Flags: Citywide (not landlord-specific) City of Miami apartment-hotel/STR lodging-use litigation ongoing; Negative resident Yelp review cites elevators frequently down, constant fire alarms, noise, pest/cleanliness and unresponsive staff — operational red flag for a lease-up
[Cached: 2026-08-08] STR explicitly permitted in lease per operator; City of Miami registration and permit compliance requirements create ongoing enforcement 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) | $525–675 | 3–4 nights | Biggest demand week of the year citywide — Wynwood is an epicenter; price aggressively. |
| Miami Music Week / Ultra (late Mar) | $450–575 | 3–4 nights | Electronic-music takeover; Wynwood is a core party corridor. |
| III Points weekend (mid-Oct) & event weekends | $400–475 | 2–3 nights | Festival at Mana Wynwood (in-neighborhood) plus HalloWYN block party. |
| Winter peak weekend (Jan–Mar) | $390–460 | 2–3 nights | High season; weekends can push above the 4-star hotel ceiling. |
| Winter peak weekday (Jan–Mar) | $320–380 | 2 nights | Respect the 4-star hotel midweek ceiling (~$200–290); coworking angle for corporate mid-stays. |
| Shoulder (Apr–May, Nov) | $330–390 | 2 nights | Softening but steady; lean on amenity premium. |
| Summer weekend (Jun–Aug) | $300–360 | 2 nights | Domestic/LatAm leisure; pool & rooftop sell the stay. |
| Summer weekday / trough (Aug–Sep) | $230–285 | 2 nights | Heat/hurricane season — protect occupancy; hotel ceiling is the cap here. |
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.
Gentrification is well advanced: Wynwood has transitioned from warehouse district to a premier residential/entertainment submarket, with a Brightline station and thousands of pipeline units. Long-run land-value trajectory is strongly positive, but the same pipeline creates a genuine near-term STR supply headwind.
- Twenty Sixth & 2nd Wynwood Residences (Wynwood Art District, directly across from subject; 233 units, STR-flexible) · $126M construction loan (under construction, completion Q2 2028)
- Mohawk at Wynwood (Rilea Group; 300-unit multifamily) · $150M financing (under construction)
- The Rider at Wynwood (Wynwood Art District; 146 turnkey units, unrestricted short/long-term rentals) · from ~$650k/unit (under construction, completion late 2026)
- Frida Kahlo Residences (PMG/Lndmrk; 244 units) (sales launched Jan 2026)
The analyst's take
Amenity-rich Wynwood 3BR that clears the bar on strong per-night economics — pursue, but only with the STR permit stack confirmed and eyes on a heavy supply pipeline.
- Best-in-class amenity differentiation vs comps supports top-of-band pricing
- Event-driven peak pricing: Art Basel (Dec), Miami Music Week/Ultra (Mar), III Points (Oct)
- Brightline Wynwood station + luxury-condo gentrification lifting the submarket ceiling
- Midweek corporate / digital-nomad angle via on-site coworking with private conference rooms
- Professional management to capture premium and manage the event calendar
- Heavy STR-flexible new supply within ~0.5mi (The Rider ~146 units late-2026; Mohawk ~300 units; Twenty Sixth & 2nd ~233 units) plus 318-unit host building lease-up
- Regulatory/permit contingency and intensifying City of Miami enforcement; lodging-use Certificate of Use must be in place
- Hard 8-guest occupancy cap for a 3BR — no ability to monetize extra heads
- Effective-rent sensitivity: two-months-free concessions signal soft long-term rental demand and thin the STR margin
- Building operational complaints (elevators down, fire alarms, noise) could surface in guest reviews
What guests say: POSITIVE THEMES (across ~75 reviews from top 3 comps): - Location: guests repeatedly praise walkability to Wynwood Walls, galleries, bars and restaurants. - Group fit: comfortable beds and communal dining/living space that genuinely seats 8. - Parking: on-site/free parking is called out as a rare, valued perk in the district. - Cleanliness & design: modern, recently-renovated interiors score highly (up to 9.6/10). NEGATIVE / WATCH THEMES: - Nightlife noise: recurring complaints about weekend/late-night street and bar noise — a Wynwood constant; soundproofing and honest listing disclosure matter. - Building operations: the host building's own reviews flag elevators frequently out, loud fire alarms and slow staff response — watch how this surfaces in guest reviews. - Bathroom/occupancy mismatch: one weak comp with a single bath for 8 guests drew poor scores — subject's 3BA is an advantage to market. - Check-in/access friction: self-check-in and access instructions occasionally confuse guests; tighten the arrival flow.
Risk & compliance checks
Every deal breaker we screen, scored on this property.
One June 2026 Yelp review for Wynwood Art District specifically mentions 'bugs' with no documented management response.
Wynwood carries a B- crime grade in 2026 with an overall crime index 72% above the national average, though violent crime is moderate and trending down.
No existing 'Wynwood Art District' STR listings were found on Airbnb, suggesting the building is new to the STR ecosystem, with sparse direct comp data inside the building.
Wynwood 3-star hotels run $165–$217/night; a 3BR comp-implied ADR of ~$310–370 sits at a healthy 1.7–2.0x the 3-star median.
Wynwood Art District 3BR asking rent starts at $7,047/mo on Zillow; the RentCast AVM of $2,660 and HUD FMR of $2,750 reflect the overall Wynwood Art District market, not premium new-construction.
Insufficient public records found to assess landlord LLC eviction history, code violations, or litigation at Wynwood Art District within available search budget.
Wynwood has ~594 active STR listings total; 3BR units are scarce (majority 1–2BR), but competition density at the 0.25mi level could not be precisely counted from available data.
[Cached: 2026-08-08] Five-plus named, quantified demand drivers confirmed within 5mi; Wynwood/Downtown Miami is one of Miami's strongest STR demand nodes.
[Cached: 2026-08-08] Wynwood operates under a city-extended noise pilot with relaxed late-night sound rules; the building's own Yelp reviewer confirms noise from neighboring units and the street.
[Cached: 2026-08-08] Wynwood's pipeline is more moderate than Brickell/Downtown but meaningful new luxury rental supply is delivering, adding competitive STR inventory risk.
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 (32)
Open any to verify the data yourself.
- 01Yelp – Wynwood Art District · "Bugs, trash, blazing music inside other units and outside in wynwood making it impossible to rest"
- 02DoorProfit – Wynwood Crime 2026 · "Wynwood in Miami, FL has a crime safety grade of B- as of 2026. The overall crime index is 172, which is 72% above the national average."
- 03CrimeGrade.org – Wynwood · "Residents generally consider the northeast part of the neighborhood the safest."
- 04USACrimeMap – Wynwood 2026 · "4,659 calls-for-service recorded in Wynwood...the largest single category is property, accounting for about 73% of all dispatches."
- 05Zillow – Wynwood Art District · "Wynwood Art District offers studios, 1-, 2-, and 3-bedroom homes...3 bed $7,047+"
- 06Airbnb – Charming 3BR near Wynwood · "3 bedrooms...Rated 4.67 out of 5 stars. 85 reviews"
- 07Airbnb – Wynwood Listings Overview · "Wynwood, FL Vacation Rentals (4.9 out of 5)"
- 08Travelocity – Wynwood Hotels · "Sentral Wynwood...0.39 mi from 5th Avenue Shopping Area $165 nightly"
- 09HotelPlanner – Moxy Miami Wynwood · "the highest average individual rate is $402 in the month of June 2026"
- 10Momondo – Wynwood Hotels · "hotels near Wynwood Art District...expect to pay around $181/night"
- 11Cached from prior Revarity research · 2026-08-08
- 12Trulia – Wynwood Art District · "Wynwood Art District offers Studio-3 bed, 1-4 bath units."
- 13MRMVR – Miami STR Laws 2026 · "Brickell and parts of Wynwood have many buildings that pre-approved short-term rental use in their governing documents"
- 14Guestable – Miami STR Regulations 2026 · "You must show your permit numbers on every listing page you create on sites like Airbnb and Vrbo."
- 15Flow.life – Wynwood Art District Property Page · "Wynwood Art District offers studio to three-bedroom apartments in the heart of Miami's art district."
- 16LoopNet – Wynwood Art District · "The property at Wynwood Art District in Miami is part of a mixed-u[se development]"
- 17Masterhost – Miami Airbnb Neighborhoods · "Active Rentals: Wynwood has 594 active rentals...Growth is modest at 2% from last year."
- 18Atlantikos – Best Miami Neighborhoods 2026 · "two-bedroom properties with design-forward interiors are genuinely scarce. That scarcity is the REAL INVESTOR EDGE."
- 19AirROI – Miami STR Market 2026 · "Supply grew 25.5% over the past year, yet revenue and nightly rates both trended upward"
- 20Mana Wynwood – Convention Center · "100,000 sq ft of air-conditioned space...capacity of 6,000 standing"
- 21Detailed Drivers Miami – Wynwood Events · "Art Basel Miami Beach (first week of December) is the largest contemporary art fair in the Americas with 80,000+ attendees."
- 22Miami Today News – Wynwood Noise Pilot · "Wynwood is one of several Miami neighborhoods operating under relaxed noise rules meant to support entertainment zones"
- 23Upside Wynwood – Nightlife Guide 2026 · "Wynwood has transformed from a quiet warehouse district into a party epicenter."
- 24VRBO comp #1 · Modern 3-Bedroom in Heart of Wynwood Art District
- 25Expedia comp #2 · Wynwood Miami House - Sleeps 8 - Gazebo - Luxe Bathrooms
- 26Airbnb comp #3 · Ultra Wynwood 3mins U1
- 27Booking comp #4 · Renzzi Wynwood Apartments
- 28VRBO comp #5 · Stylish 3-Bedroom Oasis Near Wynwood & Miami Beach
- 29Booking comp #6 · Modern 3-Bedroom in the Heart of Wynwood Art District (Booking cross-listing)
- 30Expedia comp #7 · Happy House Miami! 3 Bedroom close to Wynwood
- 31Expedia comp #8 · Modern 3-Bedroom in Heart of Wynwood Art District (Expedia/Travelocity cross-listing)
- 32STR 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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