The Lexi

A Building of Exactly Three Floorplates

I pulled every folio the Miami-Dade County Property Appraiser holds for The Lexi at 7901 Hispanola Avenue. The county returns 162 folios and all 162 are residential dwellings — no commercial, parking or storage folios sit inside this declaration to strip out.

The striking fact in the record is how few distinct homes this building actually contains. Heated area runs from 1,458 to 1,753 square feet, and the whole building resolves into three floorplates: 55 homes at 1,735 sq ft, 54 at 1,753 sq ft and 53 at 1,458 sq ft. That is all 162. I have not measured another building in this dataset with so little internal variation.

The bed mix is 109 two-bedroom homes (67.3%), 52 one-bedroom homes (32.1%) and a single three-bedroom home (0.6%). On the 2026 tax roll, assessed values run from $179,873 to $638,897, median $448,234.

The practical consequence is that pricing here should be easier than almost anywhere else. Whatever home you are looking at, roughly fifty others in the same building share its exact square footage, and the sale history of those fifty is a genuine comparable set rather than an approximation.

Year built, storey count, architect and amenity detail are not in the county file and are not on this page.

What do four years of sales actually show at The Lexi?

They show a flat market with thin volume. The rate per square foot across the four years reads $402, $401, $384, $413 — a total spread of $29, or 7.6% between the lowest and highest readings, with no consistent direction. In a building of three floorplates that band is more trustworthy than it would be elsewhere, because the sales are close to like-for-like by construction rather than by luck.

My honest reading: I cannot tell you prices at The Lexi are rising or falling, because across four years they have essentially done neither. 2025 is the softest year on both measures, at $610,000 and $384 a foot on 7 sales; 2026 is the firmest at $413 a foot, but on only 3 sales, which is too few to confirm anything. Anyone presenting either year as a turning point is over-reading a three-to-seven sale sample.

28 qualified sales have closed across the four years, which works out to one home in 23 each year. The county carries 302 qualified sales at this address across its full record. Volume was concentrated in 2024, which alone accounted for 12 of the 28.

Eleven Years, Eleven Per Cent

108 of the 162 homes — 66.7% — have a completed round trip on the county record, meaning the same folio was bought and later resold with both legs qualified and arm’s-length. That is a solid coverage rate, and what it shows is not flattering.

Of those 108 round trips, 72 sold for more than the previous owner paid, 35 sold for less, and one closed at an identical price. So 66.7% gained and roughly a third did not. The median gain across all 108 is 11.2%, and the median hold behind it is 11.3 years. Among the 72 that gained, the median is 25.0%. The full range runs from -51.7% to +100.3%.

Eleven per cent over eleven years is the number that matters on this page, and I would rather state it directly than bury it. That is a building where the typical documented owner, across more than a decade, came out roughly where they went in once ordinary costs of sale are considered. One home in the set lost more than half its value between the two legs; another doubled. Neither is typical.

The highest qualified price on the county record here is $950,000, closed 27 February 2024, for a 1,753 sq ft home at $542 per square foot — well above every annual median in the table, and the top of the building’s recorded rate-per-foot range. The next two highest, $830,000 and $795,000, were also 1,753 sq ft homes and also closed in 2024, at $473 and $454 a foot. The building’s three best recorded prices all belong to its largest plate and all landed in the same year.

Who The Lexi Suits, and Who It Does Not

It suits a buyer who wants a large two-bedroom home and wants to know precisely what they are paying for. Fifty-odd homes share your exact floorplate; the assessed range is contained; the rate per foot has sat between $384 and $413 for four years. There is very little ambiguity to exploit here, in either direction, and for a buyer that is a good thing.

It suits badly a buyer expecting the building to build wealth on its own. The documented record is a median 11.2% gain over a median 11.3-year hold, with a third of resales closing below the previous purchase price. That is what this building has done, and a buyer should plan on the basis of it rather than on the basis of the wider Miami market’s reputation.

It also suits badly anyone who needs to transact on a schedule — 28 sales in four years on 162 homes means roughly one home in 23 trades a year.

If you are selling: your comparable set is genuinely strong, so use it. Price against the recent sales on your own plate — 1,458, 1,735 or 1,753 sq ft — inside the $384 to $413 band, and be realistic that the building’s three record prices were all set on the largest plate in a single year, 2024, and are not a benchmark for the other two plates.

Interested in selling at The Lexi

Learn more about selling condo at The Lexi with Josh Stein.

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