200 177 Dr #115 · Sunny Isles Beach, FL 33160

$215,000

1 bd · 1.0 ba · 620 sqft · Condo public records · 92 Days on market

Built 1974 $408/mo HOA · 11% of rent

---

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
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice apt complete renovated 1 bedroom 1 bath and half bath plus Den, Assigned parking in a great location at Sunny Isles Beach, across the street to the beach, restaurants, shopping, post office, library, in the middle of two airports. Excellent for investors.

Key facts

• $408 HOA
• Parking
• Built 1974

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee of $408; Association covers common areas, cable TV, internet, laundry, grounds maintenance, and structure maintenance; Building amenities include elevator(s)

Exterior

• Parking: One parking space
• Security: Fenced complex
• Utilities: Has cooling (central air)
• Home design: South-facing; Entry on level 1; Property is attached (multi-unit building)
• Construction: Block construction; 5-story building; Year built: unknown
• Exterior features: No notable exterior features; Complex is fenced

Interior

• Kitchen: Dishwasher
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Unfurnished; Other interior features
• Laundry & utility: Laundry available in building/common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 0.8% in Sunny Isles Beach — 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 86/100 on livability (#20 in FL, #434 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, health & safety A+; Watch: housing C-, cost of living F.
• 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 flat; 1870 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,556/mo this rent would consume 64% of the median local household income ($67k/yr) (locally 3106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $1k appreciation (0.5% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.5% appreciation + 0.9% rent growth), your $60k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $167k; 29% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.65% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.53% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.42×
• Total profit: $25,021
• Equity at exit: $68,154

10-year hold

• IRR: 11.2%
• Equity multiple: 2.20×
• Total profit: $71,998
• Equity at exit: $86,644

Cash invested: $60,200 (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 33160

• Home prices YoY: 0.2%
• Rents YoY: 0.9%
• Active inventory: 1870
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,556 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$246 /mo · $2,949/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$408
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $512

Break-even live

Break-even rent $2,908

Max offer price $215,000

Occupancy floor 81%

Sensitivity live

Price	-10% $634	-5% $573	+0% $512	+5% $451	+10% $390
Rent	-10% $231	-5% $371	+0% $512	+5% $652	+10% $793
Rate	-1.0pp $620	-0.5pp $567	base $512	+0.5pp $456	+1.0pp $399

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $408 · $4,896/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-16
   days on market $215,000 Active 92 DOM
2. 2026-06-15
   days on market $215,000 Active 91 DOM
3. 2026-06-13
   days on market $215,000 Active 89 DOM
4. 2026-06-09
   days on market $215,000 Active 85 DOM
5. 2026-06-08
   days on market $215,000 Active 84 DOM
6. 2026-06-07
   days on market $215,000 Active 83 DOM
7. 2026-06-04
   days on market $215,000 Active 80 DOM
8. 2026-06-03
   days on market $215,000 Active 79 DOM
9. 2026-06-02
   days on market $215,000 Active 78 DOM
10. 2026-06-01
    days on market $215,000 Active 77 DOM
11. 2026-05-31
    days on market $215,000 Active 76 DOM
12. 2026-04-20
    price $215,000
13. 2026-03-16
    listed $219,000 Active
14. 2021-12-22
    soldstatus $167,000 Closed 260-char remark

    Show marketing remark (260 chars)

    Nice apt complete renovated 1 bedroom 1 bath and half bath plus Den, Assigned parking in a great location at Sunny Isles Beach, across the street to the beach, restaurants, shopping, post office, library, in the middle of two airports. Excellent for investors.

15. 2021-12-09
    soldstatus $167,000
16. 2021-10-06
    status Pending 260-char remark

    Show marketing remark (260 chars)

    Nice apt complete renovated 1 bedroom 1 bath and half bath plus Den, Assigned parking in a great location at Sunny Isles Beach, across the street to the beach, restaurants, shopping, post office, library, in the middle of two airports. Excellent for investors.

17. 2021-08-13
    listed $175,000 Active 260-char remark

    Show marketing remark (260 chars)

    Nice apt complete renovated 1 bedroom 1 bath and half bath plus Den, Assigned parking in a great location at Sunny Isles Beach, across the street to the beach, restaurants, shopping, post office, library, in the middle of two airports. Excellent for investors.

18. 2021-03-22
    historical
19. 2021-03-15
    listed $158,000 Active
20. 2021-03-10
    historical
21. 2021-01-29
    listed $166,000 Active
22. 2021-01-27
    historical
23. 2020-01-28
    listed $166,000 Active
24. 2013-08-10
    soldstatus $97,000 Sold
25. 2013-08-02
    soldstatus $97,000
26. 2013-06-22
    status Pending
27. 2013-05-07
    historical
28. 2013-05-06
    price $115,000 Active
29. 2013-05-06
    status Active
30. 2010-02-26
    soldstatus $74,000
31. 2010-02-25
    soldstatus $74,000
32. 2009-04-03
    listed $85,000
33. 1990-03-14
    soldstatus $39,500
34. 1989-10-26
    soldstatus $33,000

ⓘ 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: $2,949 · $246/mo
• Projected year-2 tax: $2,949 · $246/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $42,671
• − Mortgage interest: −$12,043
• − Property taxes: −$2,949
• − Insurance: −$6,194
• − Repairs & maintenance: −$3,414
• − Management: −$3,414
• − HOA: −$4,896
• − Depreciation: −$6,255
• Taxable income: $3,508
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $5,300/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 — Sunny Isles Beach

• Score: 86/100
• State rank: #20
• US rank: #434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunny Isles Beach, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,718
• Household income: $67,040
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 3106.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% White 44% Two or more races 27% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 8% Dominican 1% Salvadoran 4%
• Common ancestry: Scotch-Irish 8% Hispanic 3% Subsaharan African 3%
• Foreign-born: 61% · Canada, Jamaica, Dominican Republic
• Languages at home: 29% English-only · Spanish 45% Russian/Polish/Slavic 12% Other Indo-European 5%

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: ▲ 0.53%
• Current HPI: 284.9293
• Rent YoY: ▲ 0.94%
• 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

+551.5% since first listed

23 events — show timeline

• 2026-04-20 Price Changed $215,000 MARMLS
• 2026-03-16 Listed $219,000 MARMLS
• 2021-12-22 Sold (MLS) $167,000 MARMLS
• 2021-12-09 Sold (Public Records) $167,000 Public Records
• 2021-10-06 Pending — MARMLS
• 2021-08-13 Listed $175,000 MARMLS
• 2021-03-22 Listing Removed — MARMLS
• 2021-03-15 Listed $158,000 MARMLS
• 2021-03-10 Listing Removed — MARMLS
• 2021-01-29 Listed $166,000 MARMLS
• 2021-01-27 Listing Removed — MARMLS
• 2020-01-28 Listed $166,000 MARMLS
• 2013-08-10 Sold (MLS) $97,000 MARMLS
• 2013-08-02 Sold (Public Records) $97,000 Public Records
• 2013-06-22 Pending — MARMLS
• 2013-05-07 Listing Removed — MARMLS
• 2013-05-06 Relisted — MARMLS
• 2013-05-06 Price Changed $115,000 MARMLS
• 2010-02-26 Sold (Public Records) $74,000 Public Records
• 2010-02-25 Sold (MLS) $74,000 Beaches MLS
• 2009-04-03 Listed $85,000 Beaches MLS
• 1990-03-14 Sold (Public Records) $39,500 Public Records
• 1989-10-26 Sold (Public Records) $33,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,949 · +3.1% YoY. Source: county tax records.