1800 Sans Souci Blvd #424 · North Miami, FL 33181

$159,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 21 Days on market

Built 1968 $480/mo HOA · 15% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Location Location! Spacious 1-bedroom, 1.5-bath condo in the desirable Sans Souci area of North Miami. Bright and functional layout featuring a large bedroom with walk-in closet, generous storage, and plenty of potential to renovate or personalize. Investor-friendly building with flexible rental opportunities and no major rental restrictions. The building has completed its 40-year milestone inspection. Conveniently located near beaches, shopping, dining, parks, and major highways. Great opportunity for investors or buyers seeking value in a prime location with long-term upside.

Key facts

• Walk-in closet
• Generous storage
• $480 HOA

Tags

• WALK-IN CLOSET
• GENEROUS STORAGE
• FLEXIBLE RENTAL OPPORTUNITIES

Property features AI

Finance

• Other: Pets allowed (restrictions possible); Community has 324 units
• HOA & community: Association with monthly fee; Monthly HOA covers water, sewer, grounds maintenance, structure maintenance, pest control, common areas, elevator; Community amenities: elevator(s), fitness center, pool, lobby, laundry, management, maintained community

Exterior

• Parking: Open parking (1 space)
• Security: Closed circuit camera(s); Fire alarm; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Resale condition; Build faces north; 4-story building; Bayview Palms building
• Construction: Concrete block construction (no stucco); Other roof
• Exterior features: No waterfront; East of US-1 road frontage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Walk-in closet(s); Closed circuit camera(s); Fire alarm; Smoke detector(s)
• Laundry & utility: Laundry in building / community

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $159k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 4.1% in North Miami — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: David Lawrence Jr. K-8 Center (math 43% / reading 50%, grade D-, #1,223 of 2,144 statewide, top 57%, 1,282 students, 55% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); Alonzo & Tracy Mourning Senior High School (math 38% / reading 50%, grade F, #244 of 667 statewide, top 37%, 1,597 students, 48% FRL).
• Market conditions: Rents soft (-0.1%/yr); 335 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,118/mo this rent would consume 59% of the median local household income ($63k/yr) (locally 1914% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.96% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.67%
• DSCR: 1.96
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.77×
• Total profit: $-10,203
• Equity at exit: $23,707

10-year hold

• IRR: -4.7%
• Equity multiple: 0.76×
• Total profit: $-10,583
• Equity at exit: $13,747

Cash invested: $44,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33181

• Rents YoY: -0.1%
• Active inventory: 335
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,118 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$279 /mo · $3,352/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$480
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $378

Break-even live

Break-even rent $2,640

Max offer price $159,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $480 · $5,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $159,000 Active 21 DOM
2. 2026-06-17
   days on market $159,000 Active 20 DOM
3. 2026-06-16
   days on market $159,000 Active 19 DOM
4. 2026-06-15
   days on market $159,000 Active 18 DOM
5. 2026-06-13
   days on market $159,000 Active 16 DOM
6. 2026-06-09
   days on market $159,000 Active 12 DOM
7. 2026-06-08
   days on market $159,000 Active 11 DOM
8. 2026-06-07
   days on market $159,000 Active 10 DOM
9. 2026-06-04
   days on market $159,000 Active 7 DOM
10. 2026-06-03
    days on market $159,000 Active 6 DOM
11. 2026-06-02
    days on market $159,000 Active 5 DOM
12. 2026-06-01
    days on market $159,000 Active 4 DOM
13. 2026-05-31
    days on market $159,000 Active 3 DOM
14. 2026-05-28
    listed $159,000 Active
15. 2018-07-12
    historical
16. 2018-01-23
    price $144,999
17. 2018-01-22
    listed $134,999 Active
18. 2017-12-01
    historical
19. 2017-04-22
    listed $150,000 Active
20. 2008-03-26
    soldstatus $149,000
21. 2008-03-04
    soldstatus $149,000
22. 2006-08-17
    soldstatus $157,200

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,352 · $279/mo
• Projected year-2 tax: $3,352 · $279/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,420
• − Mortgage interest: −$8,906
• − Property taxes: −$3,352
• − Insurance: −$5,914
• − Repairs & maintenance: −$2,994
• − Management: −$2,994
• − HOA: −$5,760
• − Depreciation: −$4,625
• Taxable income: $2,875
• Est. tax owed @ 24.0%: −$690
• After-tax cash flow: $3,841/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — North Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

Amenities A+ Commute A+ Cost of living A- Crime B- Employment D Housing A Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+1.1% since first listed

9 events — show timeline

• 2026-05-28 Listed $159,000 Beaches MLS
• 2018-07-12 Listing Removed — MARMLS
• 2018-01-23 Price Changed $144,999 MARMLS
• 2018-01-22 Listed $134,999 MARMLS
• 2017-12-01 Listing Removed — MARMLS
• 2017-04-22 Listed $150,000 MARMLS
• 2008-03-26 Sold (MLS) $149,000 MARMLS
• 2008-03-04 Sold (Public Records) $149,000 Public Records
• 2006-08-17 Sold (Public Records) $157,200 Public Records

Property tax history

+21.7%/yr

Latest (2025): $3,352 · +708.6% YoY. Source: county tax records.