798 Crandon Blvd Unit 55-B · Key Biscayne, FL 33149

$549,000

1 bd · 1.0 ba · 776 sqft · Condo public records · 66 Days on market

Built 1951

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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).

• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Cash flow +5.3/30.0
• Rent growth +4.2/5.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Incredible investment opportunity, price below the market for a quick close. This fully remodeled 1 Bed 1 Bath. Townhouse, pet-friendly community. This two-story residence is designed to maximize space, comfort, and natural light. Updated floors, new appliances, renovated bathroom, and a 9k new additional closet. Stockable new washer/dryer. New central A/C and Heater. Enjoy your private patio and BBQ. The community offers pools and a tropical landscape. Maint is low for this area. Unit has a zoning permit for a 1 bath on the first floor. Walking distance to the beach, shops, restaurants, and Cape Fl Park. On Lock Box, please send a text message

Key facts

• Fully remodeled
• Renovated bathroom
• Updated floors

Tags

• FULLY REMODELED
• UPDATED FLOORS
• NEW APPLIANCES
• RENOVATED BATHROOM
• NEW ADDITIONAL CLOSET
• PRIVATE PATIO

Property features AI

Finance

• Financial info: Pets allowed (yes) with size limit; maximum 20 lbs
• HOA & community: Monthly association fee (includes management, amenities, cable TV, hot water, insurance, internet, legal/accounting, structure maintenance, parking, pest control, pool(s), trash, water); Association amenities: barbecue, picnic area, pool; Association fee billed monthly

Exterior

• Parking: Detached garage; Guest parking; 1 covered parking space; One parking space
• Security: Complex fenced; Fire alarm; Smoke detectors
• Utilities: Cable available; Water heater (energy efficient)
• Home design: Attached property; 2 stories; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Barbecue area; Fenced property; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Icemaker; Refrigerator
• Bedrooms: Upper-level primary
• Flooring: Ceramic tile; Marble; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Eat-in kitchen; Living/dining room; First-floor entry; Upper-level primary suite; Walk-in closet(s)
• Laundry & utility: Washer hookup; Dryer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $549k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $413k (24.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $425k (22.6% below list).
• Recommended offer: $413k (24.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 83/100 on livability (#57 in FL, #1,016 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute 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 rising fast (+7.0%/yr); 203 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($4k loan paydown + $17k appreciation (3.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($516k) is reasonable based on typical stale-listing flexibility.
• 5 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 $350k; list at $549k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $412,982 (24.8% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.77% ✗
• Cap rate: 3.64%
• Cash-on-cash: -9.46%
• DSCR: 0.58
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.13% appreciation · 6.96% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.90×
• Total profit: $-15,975
• Equity at exit: $250,968

10-year hold

• IRR: 4.5%
• Equity multiple: 1.76×
• Total profit: $116,896
• Equity at exit: $390,000

Cash invested: $153,720 (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 33149

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 203
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $4,250 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$593 /mo · $7,117/yr
• Insurance: −$229
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$869
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $-1,639

Break-even live

Break-even rent $6,325

Max offer price $259,469

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
798 Crandon Blvd Unit 33C Key Biscayne, FL	2.0	1.5	875	$3,750	$4.29	20d	1	0.01mi
798 Crandon Blvd Unit 33C Key Biscayne, FL	2.0	1.5	875	$3,750	$4.29	24d	1	0.01mi
100 Sunrise Dr #25 Key Biscayne, FL	1.0	1.0	530	$1,400	$2.64	18d	1	0.20mi
200 Galen Dr Key Biscayne, FL	1.0–2.0	1.5–2.0	827	$2,900	$3.50	5d	3	0.29mi
200 Galen Dr Key Biscayne, FL	2.0	2.0	925	$4,025	$4.35	4d	2	0.29mi
255 Sunrise Dr #305 Key Biscayne, FL	2.0	2.0	890	$3,500	$3.93	24d	1	0.30mi
555 Crandon Blvd #53 Key Biscayne, FL	2.0	2.0	1040	$3,850	$3.70	24d	1	0.30mi
290 Sunrise Dr Key Biscayne, FL	1.0–2.0	1.0–2.0	890	$3,000	$3.37	14d	4	0.30mi
290 Sunrise Dr Key Biscayne, FL	1.0	1.0	610	$3,200	$5.25	24d	1	0.30mi
290 Sunrise Dr Unit 1H Key Biscayne, FL	2.0	2.0	980	$3,750	$3.83	24d	1	0.30mi
290 Sunrise Dr Key Biscayne, FL	2.0	1.0–2.0	1090	$3,800	$3.48	24d	2	0.30mi
201 Galen Dr Key Biscayne, FL	2.0	2.0	1108	$3,900	$3.52	11d	1	0.31mi
240 Galen Dr Key Biscayne, FL	1.0–2.0	1.0–2.0	912	$3,100	$3.40	3d	3	0.31mi
240 Galen Dr Key Biscayne, FL	1.0–2.0	1.0–2.0	912	$3,100	$3.40	24d	3	0.31mi
240 Galen Dr Key Biscayne, FL	1.0–2.0	1.5–2.0	912	$3,250	$3.56	4d	2	0.31mi
251 Galen Dr Key Biscayne, FL	2.0–4.0	2.0	1356	$3,200	$2.36	24d	2	0.33mi
250 Galen Dr Key Biscayne, FL	2.0–3.0	2.0	1145	$5,500	$4.80	24d	2	0.34mi
300 Galen Dr #206 Key Biscayne, FL	2.0	2.0	1068	$4,000	$3.75	24d	1	0.35mi
300 Galen Dr #206 Key Biscayne, FL	2.0	2.0	1068	$3,900	$3.65	7d	1	0.35mi
255 Galen Dr Unit 3D Key Biscayne, FL	2.0	2.0	1036	$4,450	$4.30	14d	1	0.36mi
881 Ocean Dr Key Biscayne, FL	2.0–3.0	2.0	1458	$5,500	$3.77	2d	6	0.43mi
1121 Crandon Blvd Unit F304 Key Biscayne, FL	1.0	1.5	1114	$3,400	$3.05	4d	1	0.49mi
1121 Crandon Blvd Unit F304 Key Biscayne, FL	1.0	1.5	1114	$3,400	$3.05	3d	1	0.49mi
1111 Crandon Blvd Unit C504 Key Biscayne, FL	1.0	1.5	1114	$3,950	$3.55	15d	1	0.51mi
1111 Crandon Blvd Key Biscayne, FL	1.0	1.5	1114	$4,000	$3.59	24d	1	0.51mi
1111 Crandon Blvd Unit 1111C404 Key Biscayne, FL	1.0	2.0	1114	$4,000	$3.59	24d	1	0.51mi
201 Crandon Blvd #120 Key Biscayne, FL	1.0	2.0	1009	$3,795	$3.76	24d	1	0.76mi
201 Crandon Blvd #505 Key Biscayne, FL	1.0	1.5	1059	$5,000	$4.72	24d	1	0.76mi
77 Crandon Blvd Unit 2E Key Biscayne, FL	2.0	2.0	1123	$4,500	$4.01	24d	1	0.82mi

HOA detail condo

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

Listing history 36 events

1. 2026-06-18
   days on market $549,000 Active 66 DOM
2. 2026-06-17
   days on market $549,000 Active 65 DOM
3. 2026-06-16
   days on market $549,000 Active 64 DOM
4. 2026-06-15
   days on market $549,000 Active 63 DOM
5. 2026-06-13
   days on market $549,000 Active 61 DOM
6. 2026-06-09
   days on market $549,000 Active 57 DOM
7. 2026-06-08
   days on market $549,000 Active 56 DOM
8. 2026-06-07
   days on market $549,000 Active 55 DOM
9. 2026-06-04
   days on market $549,000 Active 52 DOM
10. 2026-06-03
    days on market $549,000 Active 51 DOM
11. 2026-06-02
    days on market $549,000 Active 50 DOM
12. 2026-06-01
    days on market $549,000 Active 49 DOM
13. 2026-05-31
    days on market $549,000 Active 48 DOM
14. 2026-04-13
    listed $549,000 Active
15. 2026-03-31
    historical
16. 2026-02-10
    price $580,000
17. 2026-01-22
    price $599,000
18. 2026-01-08
    listed $629,000 Active
19. 2026-01-05
    historical
20. 2025-09-04
    price $699,000
21. 2025-06-05
    listed $775,000 Active
22. 2020-11-24
    soldstatus $350,000
23. 2020-11-04
    soldstatus $350,000 Closed
24. 2020-10-20
    status Pending
25. 2020-10-09
    price $433,000
26. 2020-06-29
    listed $492,000 Active
27. 2013-09-27
    soldstatus $305,000 Sold
28. 2013-09-26
    historical
29. 2013-09-24
    soldstatus $305,000
30. 2013-08-12
    listed $335,000 Active
31. 2012-03-13
    soldstatus $145,000
32. 2012-02-27
    soldstatus $145,000
33. 2006-12-13
    soldstatus $310,000
34. 2006-12-05
    soldstatus $310,000
35. 2000-06-05
    soldstatus $139,000
36. 1989-03-22
    soldstatus $95,000

ⓘ 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: $7,117 · $593/mo
• Projected year-2 tax: $7,117 · $593/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
• 💨 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: $50,999
• − Mortgage interest: −$30,753
• − Property taxes: −$7,117
• − Insurance: −$7,864
• − Repairs & maintenance: −$4,080
• − Management: −$4,080
• − HOA: −$10,428
• − Depreciation: −$15,971
• Taxable loss: −$29,293
• Est. tax savings @ 24.0%: +$7,030
• After-tax cash flow: $-12,637/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 — Key Biscayne

• Score: 83/100
• State rank: #57
• US rank: #1016

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Key Biscayne, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,791
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,791
• Household income: $181,505
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 520.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 51% White 23%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2% Cuban 9% Salvadoran 11%
• Common ancestry: Estonian 4% Russian 2% Italian 2%
• Foreign-born: 59% · Canada, Dominican Republic, Jamaica
• Languages at home: 17% English-only · Spanish 72% Other Indo-European 7% French/Haitian/Cajun 1%

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: ▲ 3.13%
• Current HPI: 314.6175
• Rent YoY: ▲ 6.96%
• 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

+477.9% since first listed

23 events — show timeline

• 2026-04-13 Listed $549,000 MARMLS
• 2026-03-31 Listing Removed — MARMLS
• 2026-02-10 Price Changed $580,000 MARMLS
• 2026-01-22 Price Changed $599,000 MARMLS
• 2026-01-08 Listed $629,000 MARMLS
• 2026-01-05 Listing Removed — MARMLS
• 2025-09-04 Price Changed $699,000 MARMLS
• 2025-06-05 Listed $775,000 MARMLS
• 2020-11-24 Sold (Public Records) $350,000 Public Records
• 2020-11-04 Sold (MLS) $350,000 MARMLS
• 2020-10-20 Pending — MARMLS
• 2020-10-09 Price Changed $433,000 MARMLS
• 2020-06-29 Listed $492,000 MARMLS
• 2013-09-27 Sold (MLS) $305,000 MARMLS
• 2013-09-26 Listing Removed — MARMLS
• 2013-09-24 Sold (Public Records) $305,000 Public Records
• 2013-08-12 Listed $335,000 MARMLS
• 2012-03-13 Sold (MLS) $145,000 MARMLS
• 2012-02-27 Sold (Public Records) $145,000 Public Records
• 2006-12-13 Sold (Public Records) $310,000 Public Records
• 2006-12-05 Sold (MLS) $310,000 MARMLS
• 2000-06-05 Sold (Public Records) $139,000 Public Records
• 1989-03-22 Sold (Public Records) $95,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $7,117 · +7.0% YoY. Source: county tax records.