+27 more
$235K
Madison Condominium Unit W-605
850 Miami Ave, Unit W-605 • Miami, FL 33136
About This Unit
Largest 1/1 for rent at the Madison Downtown. Great layout / floor plan, large balcony, ample closet space, huge kitchen pantry & linen closet. Building has fantastic amenities, pool, volleyball, fitness center, BBQ, laundry room, guarded gate, garage parking. Excellent central downtown location in the heart of the city; walking distance to metro mover and all the restaurants and shops of downtown. Ready to move in! Special assessment of 135.86 per month until October 2027.
Pricing at Madison Condominium — $341/sqft
Madison Condominium Unit W-605 is listed at $341/sqft.
Madison Condominium Unit W-605 vs Active Listings at Madison Condominium: This condo is -17.8% lower ($74/less per sqft) than the building's active 1BR median of $415/sqft, based on 2 active 1BRs.
Madison Condominium Unit W-605 vs Recent Sold Listings at Madison Condominium: This unit is -6.8% lower ($25/less per sqft) than recent 1BR sales (median $366/sqft, based on 2 sales over 9 months).
Insider Negotiation Strategy: 1BR units at Madison Condominium typically close at 91.1% of asking. At that ratio, this unit could plausibly trade around $214,203.
Based on live MIAMIRE active & closed listings at Madison Condominium.
Time on Market — 1 day
Madison Condominium Unit W-605 has been on the market for 1 day.
This unit's 1 days on the market is 143 days shorter than the active 1BR median of 144 days (-99.3%).
Estimated Monthly Cost
Mortgage (P&I)
$1,276
HOA
$792
Property Tax
$333
Total / mo
$2,401
Assumes 7.20% rate on 20% down (30-year fixed).
Tax effective rate 1.70%.
HOA $1.15/sqft · All-in $3.48/sqft / month.
Excludes wind / flood / contents insurance — verify your actual rate with a lender.
Schedule your private showing at Madison Condominium.
Walk the unit with someone who knows this building inside out. Get pricing history, negotiation strategy, and the things the listing won't tell you.
That's (305) 337-4259 • Available 7 days a week
Recent Comparable Sales
Active 1BR Comps at Madison Condominium
UnitListSqft$/sqftDOM
#—
—
593
$489
286
#—
—
689
$341
1
Recent Closed 1BR Sales
ClosedUnitSold$/sqftvs List
2025-11-10
#—
$255,000
$370
—
2026-04-07
#—
$250,000
$363
—
Comps are limited to the same bedroom count. Sold prices reflect what closed buyers actually paid.
What to Verify
Flood Zone: This unit is in flood zone X. Outside the Special Flood Hazard Area — low-to-moderate risk; insurance optional but recommended.
Building Age: Built in 1989 (37 years old) — approaching Florida's 30-year recertification trigger.
Verify all of the above with the HOA before closing.
💰 Current Owner's Cost Basis
The current owner bought this unit Nov 2011 for $78,000 — held 14 years. They’re now asking $235,000 — +201.3% (+$157,000) vs. cost basis.
Source: most recent qualified deed on file with the Miami-Dade Property Appraiser.
Sales History
| Date | Price | Type |
|---|---|---|
| Nov 2011 | $78,000 | arm’s-length |
| Jan 2011 | $62,000 | Financial inst or "In Lieu of Forclosure" stated |
| Apr 2008 | $164,900 | arm’s-length |
Source: Miami-Dade Property Appraiser. County living area: 689 sqft.
Building: Madison Condominium
Unit: W-605
Year Built: 1989
Stories: 22
City: Miami
Postal Code: 33136
HOA Fee: $792 / Monthly
View: Other View, Skyline
Waterfront: No
Private Pool: No
Heating: None
Cooling: Central Air
Days on Market: 1
Listed: April 11, 2026
MLS #: A11999312
Location
Listing courtesy of: South Florida Brokers & Assoc
Information provided by Miami Association of Realtors / SEFMLS • Deemed reliable but not guaranteed • MLS #: A11999312
• Updated Apr 12, 2026
