201 178th Dr #225 · Sunny Isles Beach, FL 33160

$418,000

1 bd · 1.0 ba · 754 sqft · Condo public records · 22 Days on market

Built 1972 $519/mo HOA · 14% of rent

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Why this score? — see what drove the D 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 +9.8/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Own a Piece of Sunny Isles Beach surrounded by luxury high-rises and just a short walk to the ocean. * 2 units available * Fully furnished 2-bedroom, 2-bath residence offers a perfect lifestyle and investment potential, with short-term rentals permitted. Ideal as a primary residence, vacation getaway, or income-producing property. Enjoy a heated pool, including covered parking, internet, cable, and free shuttle service. Near world-class shopping, fine dining, and the best of South Florida coastal living

Key facts

• Cable
• Covered parking
• Free shuttle service

Tags

• SHORT WALK TO THE OCEAN
• HEATED POOL
• COVERED PARKING
• INTERNET
• CABLE
• FREE SHUTTLE SERVICE

Property features AI

Finance

• Other: Association fee: monthly
• Financial info: Pets allowed
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, cable TV, structural maintenance, trash, and water; Community amenities include pool, billiard room, shuffleboard court, bike storage, trail(s), trash service, and vehicle wash area

Exterior

• Parking: Attached garage with 2 covered spaces; Garage door opener; Secured garage/parking
• Security: Phone entry; Secured garage/parking; Complex fenced
• Utilities: Central heating and cooling
• Home design: Attached property; 7 stories total; Entry on level 2; Effective year built; Block construction
• Construction: Block construction
• Exterior features: Balcony; Open balcony/porch; Porch; Fenced complex

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on main level
• Flooring: Ceramic tile; Marble
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Family/Dining room; Living/Dining room; Split bedroom layout; Walk-in closet(s); Bedroom on main level; Intercom
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $418k.

Deal economics

• At list price, monthly cash flow is $-698 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (29.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $377k (9.9% below list).
• Recommended offer: $295k (29.5% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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 $3,766/mo this rent would consume 67% 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 $5k of equity ($3k loan paydown + $2k 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.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 4y 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 $340k; 23% 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 $294,712 (29.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 9.2

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: -9.5%
• Equity multiple: 0.54×
• Total profit: $-53,327
• Equity at exit: $132,503

10-year hold

• IRR: -5.0%
• Equity multiple: 0.45×
• Total profit: $-64,673
• Equity at exit: $168,452

Cash invested: $117,040 (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: 9.2×

Monthly cashflow live

• Estimated rent: $3,766 medium
• Mortgage (P&I): −$2,192
• Tax from tax record: −$362 /mo · $4,339/yr
• Insurance: −$174
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$519
• Vacancy / Maint / Mgmt: −$791
• Net cashflow: $-698

Break-even live

Break-even rent $4,650

Max offer price $294,712

Occupancy floor —

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: $104,500
• Closing costs: $12,540
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $519 · $6,228/yr
• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-18
   days on market $418,000 Active 22 DOM
2. 2026-06-17
   days on market $418,000 Active 21 DOM
3. 2026-06-16
   days on market $418,000 Active 20 DOM
4. 2026-06-15
   days on market $418,000 Active 19 DOM
5. 2026-06-13
   days on market $418,000 Active 17 DOM
6. 2026-06-09
   days on market $418,000 Active 13 DOM
7. 2026-06-08
   days on market $418,000 Active 12 DOM
8. 2026-06-07
   days on market $418,000 Active 11 DOM
9. 2026-06-04
   days on market $418,000 Active 8 DOM
10. 2026-06-03
    days on market $418,000 Active 7 DOM
11. 2026-06-02
    days on market $418,000 Active 6 DOM
12. 2026-06-01
    days on market $418,000 Active 5 DOM
13. 2026-05-31
    days on market $418,000 Active 4 DOM
14. 2026-05-27
    listed $418,000 Active
15. 2026-05-18
    historical
16. 2026-04-16
    historical $2,300
17. 2026-03-08
    listed $2,300
18. 2026-02-09
    historical $2,300
19. 2026-01-12
    status Active
20. 2025-12-28
    listed $2,300
21. 2025-12-01
    status Active
22. 2025-10-30
    price $395,000
23. 2025-10-30
    status Active
24. 2025-10-10
    status Active
25. 2025-09-12
    historical $2,300
26. 2025-09-10
    listed $2,300
27. 2025-08-19
    status Active
28. 2025-07-09
    price $399,000
29. 2025-06-04
    price $420,000
30. 2025-04-29
    price $449,000
31. 2025-02-12
    price $469,000
32. 2024-12-29
    listed $499,000 Active
33. 2024-06-18
    historical
34. 2024-04-06
    listed $449,000 Active
35. 2023-07-01
    historical
36. 2022-06-27
    soldstatus $340,000
37. 2022-06-24
    soldstatus $340,000 Closed
38. 2022-03-08
    status Pending
39. 2022-03-04
    listed $340,000 Active
40. 2012-12-18
    soldstatus $240,000
41. 2011-09-19
    soldstatus $166,777
42. 2000-12-27
    soldstatus $89,500

ⓘ 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: $4,339 · $362/mo
• Projected year-2 tax: $4,339 · $362/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: $45,196
• − Mortgage interest: −$23,414
• − Property taxes: −$4,339
• − Insurance: −$7,208
• − Repairs & maintenance: −$3,616
• − Management: −$3,616
• − HOA: −$6,228
• − Depreciation: −$12,160
• Taxable loss: −$15,385
• Est. tax savings @ 24.0%: +$3,692
• After-tax cash flow: $-4,682/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
• City population: 34,147
• 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

+367.0% since first listed

29 events — show timeline

• 2026-05-27 Listed $418,000 MARMLS
• 2026-05-18 Listing Removed — MARMLS
• 2026-04-16 Rental Removed $2,300 MARMLS
• 2026-03-08 Listed for Rent $2,300 MARMLS
• 2026-02-09 Rental Removed $2,300 MARMLS
• 2026-01-12 Relisted — MARMLS
• 2025-12-28 Listed for Rent $2,300 MARMLS
• 2025-12-01 Relisted — MARMLS
• 2025-10-30 Price Changed $395,000 MARMLS
• 2025-10-30 Relisted — MARMLS
• 2025-10-10 Relisted — MARMLS
• 2025-09-12 Rental Removed $2,300 REALLYO
• 2025-09-10 Listed for Rent $2,300 REALLYO
• 2025-08-19 Relisted — MARMLS
• 2025-07-09 Price Changed $399,000 MARMLS
• 2025-06-04 Price Changed $420,000 MARMLS
• 2025-04-29 Price Changed $449,000 MARMLS
• 2025-02-12 Price Changed $469,000 MARMLS
• 2024-12-29 Listed $499,000 MARMLS
• 2024-06-18 Listing Removed — MARMLS
• 2024-04-06 Listed $449,000 MARMLS
• 2023-07-01 Rental Removed — MARMLS
• 2022-06-27 Sold (Public Records) $340,000 Public Records
• 2022-06-24 Sold (MLS) $340,000 Beaches MLS
• 2022-03-08 Pending — Beaches MLS
• 2022-03-04 Listed $340,000 Beaches MLS
• 2012-12-18 Sold (Public Records) $240,000 Public Records
• 2011-09-19 Sold (MLS) $166,777 MARMLS
• 2000-12-27 Sold (Public Records) $89,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $4,339 · -8.6% YoY. Source: county tax records.