1800 Sans Souci Blvd #109 · North Miami, FL 33181

$180,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 161 Days on market

Built 1971

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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 MLS

BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

Key facts

• Fitness center
• Walking distance
• Swimming pool

Tags

• SWIMMING POOL
• FITNESS CENTER
• WALKING DISTANCE
• CLOSE TO BEACHES

Property features AI

Finance

• Other: Pool managed by the association (community pool); Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee (includes common areas, hot water, laundry, grounds maintenance, parking, pool, recreation facilities, sewer, trash, water); Association amenities: elevator(s), laundry, pool; Association fee listed as monthly

Exterior

• Parking: One covered parking space; 1-car garage
• Security: Intercom; Key card entry; Smoke detectors
• Utilities: Association water and sewer service available; Electric service; Trash service
• Home design: Attached property; 4-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Unfurnished; Other
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: schools D+, 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.
• 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 161 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 13y 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.
• Current owner paid $122k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.73% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• GRM: 4.8

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: -11.1%
• Equity multiple: 0.62×
• Total profit: $-19,301
• Equity at exit: $26,839

10-year hold

• IRR: -11.0%
• Equity multiple: 0.49×
• Total profit: $-25,935
• Equity at exit: $15,563

Cash invested: $50,400 (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: 4.8×

Monthly cashflow live

• Estimated rent: $3,118 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$279 /mo · $3,352/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 6 same-building comps: −$450
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $289

Break-even live

Break-even rent $2,753

Max offer price $180,000

Occupancy floor 86%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-05-25
   status Pending
2. 2026-04-17
   historical Active Under Contract
3. 2025-12-15
   listed $180,000 Active
4. 2025-02-21
   historical $1,800
5. 2025-02-19
   listed $1,800
6. 2025-01-28
   historical $1,800
7. 2025-01-15
   listed $1,800
8. 2024-04-13
   historical $1,900
9. 2024-04-02
   price $1,900
10. 2024-03-04
    price $2,000
11. 2024-02-10
    listed $2,100
12. 2016-01-05
    soldstatus $122,000
13. 2015-12-17
    soldstatus $122,000 Sold 517-char remark

    Show marketing remark (517 chars)

    BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

14. 2015-09-10
    status Active 517-char remark

    Show marketing remark (517 chars)

    BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

15. 2015-09-10
    price $135,000 517-char remark

    Show marketing remark (517 chars)

    BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

16. 2015-08-21
    status Pending 517-char remark

    Show marketing remark (517 chars)

    BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

17. 2015-07-09
    listed $130,000 Active 517-char remark

    Show marketing remark (517 chars)

    BONUS $1.000 FOR FULL PRICE OFFERS!!!!!You will be the first to live in this fully renovated home 2 blocks away from Biscayne Blvd. ! Another exceptional apartment redesigned and built by Prestige Developers & Contractors. State of the art energy effi ciency engineering: Brand new A/C, LED lights, instant water heater, eco-toilets. , brand new open european style kitchen cabinets with pure white quartz countertops and bar, under mounted sink, stainless steel fridge and hood, black ceramic glass cooktop.

18. 2015-03-25
    soldstatus $75,650 Sold 465-char remark

    Show marketing remark (465 chars)

    Great location condo, CASH ONLY Due to that the property has 2 open permits( see attached)Before submitting offer do your due Diligent, Buyer will be responsible. Proof of funds must accompany with all offers, submit FAR/BAR AS IS CONTRACT/WHERE IS. No war ranties expressed or implied See attached, Seller disclosure form prior to writing an offer. Seller requires that potential buyers execute the disclosure and submit with their offer in order to be considered.

19. 2015-02-10
    status Pending 465-char remark

    Show marketing remark (465 chars)

    Great location condo, CASH ONLY Due to that the property has 2 open permits( see attached)Before submitting offer do your due Diligent, Buyer will be responsible. Proof of funds must accompany with all offers, submit FAR/BAR AS IS CONTRACT/WHERE IS. No war ranties expressed or implied See attached, Seller disclosure form prior to writing an offer. Seller requires that potential buyers execute the disclosure and submit with their offer in order to be considered.

20. 2015-01-28
    listed $71,900 Active 465-char remark

    Show marketing remark (465 chars)

    Great location condo, CASH ONLY Due to that the property has 2 open permits( see attached)Before submitting offer do your due Diligent, Buyer will be responsible. Proof of funds must accompany with all offers, submit FAR/BAR AS IS CONTRACT/WHERE IS. No war ranties expressed or implied See attached, Seller disclosure form prior to writing an offer. Seller requires that potential buyers execute the disclosure and submit with their offer in order to be considered.

21. 2014-02-10
    historical
22. 2014-01-07
    status Pending
23. 2013-12-13
    listed $74,900 Active
24. 2013-12-12
    historical
25. 2013-11-19
    price $74,900
26. 2013-10-17
    price $84,900
27. 2013-09-18
    listed $93,900 Active

ⓘ 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: −$10,083
• − Property taxes: −$3,352
• − Insurance: −$6,018
• − Repairs & maintenance: −$2,994
• − Management: −$2,994
• − HOA: −$5,400
• − Depreciation: −$5,236
• Taxable income: $1,343
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $3,142/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

+91.7% since first listed

27 events — show timeline

• 2026-05-25 Pending — MARMLS
• 2026-04-17 Contingent — MARMLS
• 2025-12-15 Listed $180,000 MARMLS
• 2025-02-21 Rental Removed $1,800 ZUMPER1
• 2025-02-19 Listed for Rent $1,800 ZUMPER1
• 2025-01-28 Rental Removed $1,800 MARMLS
• 2025-01-15 Listed for Rent $1,800 MARMLS
• 2024-04-13 Rental Removed $1,900 MARMLS
• 2024-04-02 Price Changed $1,900 MARMLS
• 2024-03-04 Price Changed $2,000 MARMLS
• 2024-02-10 Listed for Rent $2,100 MARMLS
• 2016-01-05 Sold (Public Records) $122,000 Public Records
• 2015-12-17 Sold (MLS) $122,000 MARMLS
• 2015-09-10 Price Changed $135,000 MARMLS
• 2015-09-10 Relisted — MARMLS
• 2015-08-21 Pending — MARMLS
• 2015-07-09 Listed $130,000 MARMLS
• 2015-03-25 Sold (MLS) $75,650 MARMLS
• 2015-02-10 Pending — MARMLS
• 2015-01-28 Listed $71,900 MARMLS
• 2014-02-10 Listing Removed — MARMLS
• 2014-01-07 Pending — MARMLS
• 2013-12-13 Listed $74,900 MARMLS
• 2013-12-12 Listing Removed — MARMLS
• 2013-11-19 Price Changed $74,900 MARMLS
• 2013-10-17 Price Changed $84,900 MARMLS
• 2013-09-18 Listed $93,900 MARMLS

Property tax history

+21.7%/yr

Latest (2025): $3,352 · +1.7% YoY. Source: county tax records.