1801 S Treasure Dr · North Bay Village, FL 33141

$235,000

1 bd · 1.0 ba · 620 sqft · Townhouse · 30 Days on market

Built 1972 Est $220k · 7% over $496/mo HOA · 16% of rent

---

Why this score? — see what drove the C- 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 +20.5/30.0
• 1% rule +8.1/10.0
• DSCR +6.5/10.0
• ARV discount +4.5/15.0
• 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

An exceptional investment opportunity, with strong development potential — ideally located just a few blocks from the 157 Ave, west of Kendall, with easy access to Coral Way.

Key facts

• $496 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Has association (North Bay Villas Condominium Association); Monthly HOA fee; Association amenities include elevator(s), fitness center, laundry, playground, and pool; HOA covers insurance and common areas

Exterior

• Parking: Assigned open parking (1 space)
• Utilities: Public water; Public sewer; Sewer available; Electric service
• Home design: Condominium; One level; Faces west; Resale unit
• Construction: Built with CBS construction; Other roof type; 5-story building
• Exterior features: Private in-ground pool; Concrete road surface; Not waterfront; Entry at ground level

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds and storm windows; Electric water heater
• Laundry & utility: On-site laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (7.2% below list).
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $218k (7.2% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Treasure Island Elementary School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 399 students, 59% FRL); Miami Beach Nautilus Middle School (math 46% / reading 58%, grade C+, #217 of 571 statewide, top 40%, 918 students, 44% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Market conditions: Rents flat; 648 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,077/mo this rent would consume 54% 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 $7k 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 30 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 47 sale attempts since 10y ago; this cycle's ask is 6084% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $122k; list at $235k implies a 93% gain — meaningful room to come down on a strong offer.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,196 (7.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $220,100
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7601 E Treasure Dr #2403	0.25mi	1/1.0	705 (+14%)	6mo	$250,000	$355	60
1780 79th Street Cswy Unit C110	0.22mi	1/1.0	695 (+12%)	14mo	$171,900	$247	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -24.2%
• Equity multiple: 0.20×
• Total profit: $-52,590
• Equity at exit: $35,039

10-year hold

• IRR: -38.4%
• Equity multiple: -0.26×
• Total profit: $-82,950
• Equity at exit: $20,319

Cash invested: $65,800 (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: 648
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,077 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$496
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $-116

Break-even live

Break-even rent $3,224

Max offer price $218,196

Occupancy floor 99%

Sensitivity live

Price	-10% $46	-5% $-35	+0% $-116	+5% $-197	+10% $-279
Rent	-10% $-359	-5% $-238	+0% $-116	+5% $5	+10% $127
Rate	-1.0pp $2	-0.5pp $-56	base $-116	+0.5pp $-177	+1.0pp $-239

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $496 · $5,952/yr

Listing history 14 events

1. 2026-06-21
   pricedays on marketlisting id $235,000 Active 30 DOM
2. 2026-06-18
   days on market $60,000 Active 106 DOM
3. 2026-06-17
   days on market $60,000 Active 105 DOM
4. 2026-06-16
   days on market $60,000 Active 104 DOM
5. 2026-06-15
   days on market $60,000 Active 103 DOM
6. 2026-06-13
   days on market $60,000 Active 101 DOM
7. 2026-06-09
   days on market $60,000 Active 97 DOM
8. 2026-06-08
   days on market $60,000 Active 96 DOM
9. 2026-06-07
   days on market $60,000 Active 95 DOM
10. 2026-06-04
    days on market $60,000 Active 92 DOM
11. 2026-06-03
    days on market $60,000 Active 91 DOM
12. 2026-06-02
    days on market $60,000 Active 90 DOM
13. 2026-06-01
    days on market $60,000 Active 89 DOM
14. 2026-05-31
    days on market $60,000 Active 88 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $36,918
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$6,294
• − Repairs & maintenance: −$2,953
• − Management: −$2,953
• − HOA: −$5,952
• − Depreciation: −$6,836
• Taxable loss: −$4,759
• Est. tax savings @ 24.0%: +$1,142
• After-tax cash flow: $-251/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
• City population: 90,533
• 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

-96.9% since first listed

93 events — show timeline

• 2026-06-12 Listed for Rent $3,800 REALLYO
• 2026-05-25 Rental Removed $3,800 SHOWMOJO
• 2026-05-25 Rental Removed $3,800 SHOWMOJO
• 2026-05-23 Listed $235,000 Beaches MLS
• 2026-05-11 Rental Removed $3,800 REALLYO
• 2026-04-09 Listed for Rent $3,800 REALLYO
• 2026-03-26 Rental Removed $3,800 REALLYO
• 2026-03-15 Listed for Rent $3,800 REALLYO
• 2026-03-14 Listed for Rent $3,800 SHOWMOJO
• 2026-03-14 Listed for Rent $2,650 SHOWMOJO
• 2026-03-03 Rental Removed $2,650 REALLYO
• 2026-03-02 Listed for Rent $2,650 REALLYO
• 2026-02-04 Rental Removed $2,650 REALLYO
• 2026-02-03 Listed for Rent $2,650 REALLYO
• 2026-01-01 Rental Removed $2,650 SHOWMOJO
• 2025-12-30 Rental Removed $2,650 REALLYO
• 2025-12-29 Listed for Rent $2,650 SHOWMOJO
• 2025-11-21 Listed for Rent $1,750 REALLYO
• 2025-08-13 Listed $259,000 MARMLS
• 2025-08-13 Listing Removed — MARMLS
• 2025-08-10 Rental Removed $1,750 REALLYO
• 2025-07-11 Listed for Rent $1,750 REALLYO
• 2025-07-08 Rental Removed $1,750 REALLYO
• 2025-06-21 Listed for Rent $1,750 REALLYO
• 2025-06-21 Rental Removed $1,750 REALLYO
• 2025-06-12 Listed for Rent $1,750 REALLYO
• 2025-06-12 Rental Removed $1,750 REALLYO
• 2025-06-10 Listed for Rent $1,750 REALLYO
• 2025-06-10 Rental Removed $1,750 REALLYO
• 2025-05-17 Listed for Rent $1,750 REALLYO
• 2025-05-17 Rental Removed $1,750 REALLYO
• 2025-05-01 Rental Removed $1,750 REALLYO
• 2025-05-01 Listed for Rent $1,750 REALLYO
• 2025-04-09 Listed for Rent $1,750 REALLYO
• 2025-02-27 Rental Removed $1,699 REALLYO
• 2025-02-10 Listed for Rent $1,699 REALLYO
• 2025-01-17 Rental Removed $2,375 MARMLS
• 2025-01-15 Rental Removed $2,375 REALLYO
• 2025-01-15 Listed for Rent $2,375 MARMLS
• 2025-01-12 Listed for Rent $1,699 REALLYO
• 2025-01-10 Rental Removed $1,699 REALLYO
• 2025-01-03 Rental Removed $1,699 REALLYO
• 2025-01-03 Listed for Rent $1,699 REALLYO
• 2024-12-29 Rental Removed $1,699 REALLYO
• 2024-12-29 Listed for Rent $1,699 REALLYO
• 2024-12-24 Listed for Rent $1,699 REALLYO
• 2024-12-24 Rental Removed $1,699 REALLYO
• 2024-12-19 Listed for Rent $1,699 REALLYO
• 2024-12-13 Rental Removed $1,699 REALLYO
• 2024-12-11 Listed for Rent $1,699 REALLYO
• 2024-12-03 Rental Removed $1,699 REALLYO
• 2024-11-29 Listed for Rent $1,699 REALLYO
• 2024-11-29 Rental Removed $1,699 REALLYO
• 2024-11-26 Listed for Rent $1,699 REALLYO
• 2024-11-26 Rental Removed $1,699 REALLYO
• 2024-11-21 Listed for Rent $1,699 REALLYO
• 2024-11-21 Rental Removed $1,699 REALLYO
• 2024-11-17 Listed for Rent $1,699 REALLYO
• 2024-11-17 Rental Removed $1,699 REALLYO
• 2024-11-13 Listed for Rent $1,699 REALLYO
• 2024-11-13 Rental Removed $1,699 REALLYO
• 2024-11-08 Listed for Rent $1,699 REALLYO
• 2024-09-28 Rental Removed $1,699 REALLYO
• 2024-09-25 Listed for Rent $1,699 REALLYO
• 2024-09-25 Rental Removed $1,699 REALLYO
• 2024-09-21 Listed for Rent $1,699 REALLYO
• 2024-08-24 Rental Removed $1,699 REALLYO
• 2024-08-21 Listed for Rent $1,699 REALLYO
• 2024-08-21 Rental Removed $1,699 REALLYO
• 2024-08-16 Listed for Rent $1,699 REALLYO
• 2024-08-14 Rental Removed $1,699 REALLYO
• 2024-08-10 Listed for Rent $1,699 REALLYO
• 2024-08-08 Rental Removed $1,699 REALLYO
• 2024-08-02 Listed for Rent $1,699 REALLYO
• 2024-07-30 Rental Removed $1,699 REALLYO
• 2024-07-25 Listed for Rent $1,699 REALLYO
• 2024-07-19 Rental Removed $1,699 REALLYO
• 2024-07-17 Listed for Rent $1,699 REALLYO
• 2024-04-23 Rental Removed $1,699 REALLYO
• 2024-04-13 Listed for Rent $1,699 REALLYO
• 2024-04-01 Rental Removed $1,700 REALLYO
• 2024-03-16 Listed for Rent $1,700 REALLYO
• 2024-03-08 Rental Removed $1,700 REALLYO
• 2024-03-05 Listed for Rent $1,700 REALLYO
• 2024-03-05 Rental Removed $1,700 REALLYO
• 2024-02-04 Listed for Rent $1,700 REALLYO
• 2024-02-04 Rental Removed $1,700 REALLYO
• 2024-01-17 Listed for Rent $1,700 REALLYO
• 2024-01-17 Rental Removed $1,700 REALLYO
• 2023-12-23 Listed for Rent $1,700 REALLYO
• 2016-08-16 Listing Removed — MARMLS
• 2016-08-16 Listed $155,000 MARMLS
• 2003-12-12 Sold (Public Records) $121,500 Public Records