1801 S Treasure Dr #222 · North Bay Village, FL 33141

$294,900

3 bd · 2.0 ba · 1,240 sqft · Condo public records · 36 Days on market

Built 1972 $982/mo HOA · 22% 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 +26.1/30.0
• 1% rule +9.9/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

REDUCED. .. ., Back on the market this lovely Spacious and Cozy 3/2 Condo Remodelled into a 2/2 corner unit with the option to convert back into a 3/2 apt is back. This Apt has been tastefully remodelled into a large living room area featuring 3 Balconies. One balcony with a breath taking pool view. The kitchen features a Granite counter top, new stove top, new AC unit, New Titan waterheater, new bathroom cabinets, new Breaker panel and the best of all, .. UR OWN Brand New Washer and Dryer. It also features its own 2 private entries with a Sliding Smoked Glass Partition door for privacy if needed, dining and sitting room, 2 Assigned parking, Walking distance to the Beach, Gym, pool, Restau

Key facts

• New ac unit
• New stove top
• 3 balconies

Tags

• CORNER UNIT
• 3 BALCONIES
• POOL VIEW
• GRANITE COUNTER TOP
• NEW STOVE TOP
• NEW AC UNIT

Property features AI

Finance

• Financial info: Pets allowed (dogs OK)
• HOA & community: Monthly association fee; Association amenities include fitness center, laundry, pool, and elevators; Association services include management, common areas, insurance, grounds maintenance, parking, pool(s), roof, trash, and water

Exterior

• Parking: Assigned parking; Guest parking; Two or more parking spaces
• Security: Storm/security shutters
• Utilities: Public water; Public sewer; Electric service
• Home design: Attached property; 5-story building; Entry on level 3; Effective year built
• Construction: Block construction
• Exterior features: Balcony; Open balcony/patio; Storm/security shutters; Association pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Includes bedroom on main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Electric water heater
• Interior features: Breakfast bar; Breakfast area; Living/dining room; Pantry; Tub with shower; Walk-in closet(s); Second-floor entry; Bedroom on main level; Other interior features
• Laundry & utility: Washer; Dryer; Washer hookup; Dryer hookup; Common area laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#18 in FL, #426 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, 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; 644 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,394/mo this rent would consume 77% of the median local household income ($69k/yr) (locally 3521% 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 $2k of loan paydown is wiped out by about $9k 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 36 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y 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 $248k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% of rent.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $286,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.76%
• DSCR: 1.48
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.54×
• Total profit: $-38,067
• Equity at exit: $43,971

10-year hold

• IRR: -11.5%
• Equity multiple: 0.43×
• Total profit: $-47,353
• Equity at exit: $25,498

Cash invested: $82,572 (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 33141

• Rents YoY: 0.4%
• Active inventory: 644
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,394 medium
• Mortgage (P&I): −$1,546
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$123
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$982
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $314

Break-even live

Break-even rent $3,996

Max offer price $294,900

Occupancy floor 88%

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $982 · $11,784/yr
• Likely covers: waterpoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $294,900 Active 36 DOM
2. 2026-06-17
   days on market $294,900 Active 35 DOM
3. 2026-06-16
   days on market $294,900 Active 34 DOM
4. 2026-06-15
   days on market $294,900 Active 33 DOM
5. 2026-06-13
   days on market $294,900 Active 31 DOM
6. 2026-06-09
   days on market $294,900 Active 27 DOM
7. 2026-06-08
   days on market $294,900 Active 26 DOM
8. 2026-06-07
   days on market $294,900 Active 25 DOM
9. 2026-06-04
   days on market $294,900 Active 22 DOM
10. 2026-06-03
    days on market $294,900 Active 21 DOM
11. 2026-06-02
    days on market $294,900 Active 20 DOM
12. 2026-06-01
    days on market $294,900 Active 19 DOM
13. 2026-05-31
    days on market $294,900 Active 18 DOM
14. 2026-05-13
    listed $294,900 Active
15. 2026-05-04
    historical
16. 2026-02-08
    listed $339,500 Active
17. 2025-01-20
    historical
18. 2024-06-23
    listed $360,000 Active
19. 2022-01-07
    soldstatus $247,500
20. 2021-12-30
    soldstatus $247,500 Closed
21. 2021-10-25
    status Pending
22. 2021-10-02
    listed $237,500 Active
23. 2021-07-11
    historical
24. 2021-05-14
    price $238,900
25. 2021-05-07
    listed $247,500 Active
26. 2021-04-21
    historical
27. 2020-09-21
    price $259,500
28. 2020-08-04
    listed $268,500 Active
29. 2020-03-06
    historical
30. 2019-09-17
    listed $258,990 Active
31. 2019-09-04
    historical
32. 2019-06-09
    listed $279,900 Active
33. 2012-07-02
    soldstatus $150,000
34. 2010-12-30
    soldstatus $71,100

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: +$1,496/yr (+$125/mo · 157.2%)

ⓘ 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 · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥102°F today · 27 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,728
• − Mortgage interest: −$16,519
• − Property taxes: −$952
• − Insurance: −$6,593
• − Repairs & maintenance: −$4,218
• − Management: −$4,218
• − HOA: −$11,784
• − Depreciation: −$8,579
• Taxable loss: −$135
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $3,801/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 Bay Village

• Score: 86/100
• State rank: #18
• US rank: #426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Bay Village, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 36,438
• Household income: $68,738
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 3521.0

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: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 36% White 20% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 27% Salvadoran 6%
• Common ancestry: Scotch-Irish 2% Romanian 2% Armenian 1%
• Foreign-born: 62% · Canada, Jamaica, Dominican Republic
• Languages at home: 18% English-only · Spanish 69% Other Indo-European 4% French/Haitian/Cajun 3%

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: ▼ -472.71%
• Current HPI: 336.7298
• Rent YoY: ▲ 0.44%
• 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

+314.8% since first listed

21 events — show timeline

• 2026-05-13 Listed $294,900 MARMLS
• 2026-05-04 Listing Removed — MARMLS
• 2026-02-08 Listed $339,500 MARMLS
• 2025-01-20 Listing Removed — MARMLS
• 2024-06-23 Listed $360,000 MARMLS
• 2022-01-07 Sold (Public Records) $247,500 Public Records
• 2021-12-30 Sold (MLS) $247,500 MARMLS
• 2021-10-25 Pending — MARMLS
• 2021-10-02 Listed $237,500 MARMLS
• 2021-07-11 Listing Removed — MARMLS
• 2021-05-14 Price Changed $238,900 MARMLS
• 2021-05-07 Listed $247,500 MARMLS
• 2021-04-21 Listing Removed — MARMLS
• 2020-09-21 Price Changed $259,500 MARMLS
• 2020-08-04 Listed $268,500 MARMLS
• 2020-03-06 Listing Removed — MARMLS
• 2019-09-17 Listed $258,990 MARMLS
• 2019-09-04 Listing Removed — MARMLS
• 2019-06-09 Listed $279,900 MARMLS
• 2012-07-02 Sold (MLS) $150,000 MARMLS
• 2010-12-30 Sold (MLS) $71,100 MARMLS

Property tax history

-3.5%/yr

Latest (2025): $952 · +7.1% YoY. Source: county tax records.