201 178th Dr #426 · Sunny Isles Beach, FL 33160

$419,000

1 bd · 1.0 ba · 740 sqft · Condo public records · 247 Days on market

Built 1972 $520/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 +8.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks MLS

(unit is already all booked from dec 25th 2022 to April 8 2023. these bookings must be respect and honored, it represent a net revenu to the futur owner of 10000$)

Key facts

• Pool views
• Double balcony
• Modern bathrooms

Tags

• FURNISHED RENOVATED UNIT
• MODERN KITCHEN
• MODERN BATHROOMS
• DOUBLE BALCONY
• POOL VIEWS
• WALKING DISTANCE TO SHOPS

Property features AI

Finance

• Other: Association pool
• Financial info: Community of 100 units
• HOA & community: Association fee $520 monthly; Association amenities include pool, trash, laundry, roof maintenance, structure maintenance, common areas, cable TV, internet, and management

Exterior

• Parking: Assigned parking (1 space); Covered parking (1 space); 1-car garage
• Security: Complex fenced; Phone entry
• Utilities: Cable available; Water included in association fee; Trash service included in association fee
• Home design: Attached property; Entry located on level 4; 5-story building; Updated/remodeled
• Construction: Block construction
• Exterior features: Balcony; Open and screened balcony/porch

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Family/Dining room; Living/Dining room; Walk-in closet(s)
• Laundry & utility: Community laundry included (per association amenities)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $-802 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (33.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $365k (12.9% below list).
• Recommended offer: $277k (33.8% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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 $3,651/mo this rent would consume 65% 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 247 days — a 12% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask is 16078% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $277,382 (33.8% 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 247 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — 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: 0.87% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• GRM: 9.6

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: -10.6%
• Equity multiple: 0.49×
• Total profit: $-59,705
• Equity at exit: $132,820

10-year hold

• IRR: -6.0%
• Equity multiple: 0.34×
• Total profit: $-77,648
• Equity at exit: $168,855

Cash invested: $117,320 (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: 9.6×

Monthly cashflow live

• Estimated rent: $3,651 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$368 /mo · $4,413/yr
• Insurance: −$175
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$520
• Vacancy / Maint / Mgmt: −$767
• Net cashflow: $-802

Break-even live

Break-even rent $4,666

Max offer price $277,382

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $419,000 Active 247 DOM
2. 2026-06-17
   days on market $419,000 Active 246 DOM
3. 2026-06-16
   days on market $419,000 Active 245 DOM
4. 2026-06-15
   days on market $419,000 Active 244 DOM
5. 2026-06-13
   days on market $419,000 Active 242 DOM
6. 2026-06-09
   days on market $419,000 Active 238 DOM
7. 2026-06-08
   days on market $419,000 Active 237 DOM
8. 2026-06-08
   days on market $419,000 Active 236 DOM
9. 2026-06-04
   days on market $419,000 Active 233 DOM
10. 2026-06-03
    days on market $419,000 Active 232 DOM
11. 2026-06-02
    days on market $419,000 Active 231 DOM
12. 2026-06-01
    days on market $419,000 Active 230 DOM
13. 2026-05-31
    days on market $419,000 Active 229 DOM
14. 2026-05-16
    historical $2,590
15. 2026-03-31
    price $419,000
16. 2026-02-17
    listed $2,590
17. 2026-01-29
    historical $2,590
18. 2026-01-17
    listed $2,590
19. 2026-01-17
    historical $2,590
20. 2026-01-03
    price $2,590
21. 2025-12-31
    listed $3,300
22. 2025-12-21
    historical $2,590
23. 2025-12-18
    listed $2,590
24. 2025-11-21
    historical $2,590
25. 2025-11-08
    listed $2,590
26. 2025-11-01
    price $439,000
27. 2025-10-14
    listed $449,000 Active
28. 2024-07-28
    price $450,000
29. 2024-04-07
    listed $407,000 Active
30. 2023-10-20
    historical $3,800
31. 2023-09-06
    listed $3,800
32. 2022-12-13
    soldstatus $370,000
33. 2022-12-02
    soldstatus $370,000 Closed 163-char remark

    Show marketing remark (163 chars)

    (unit is already all booked from dec 25th 2022 to April 8 2023. these bookings must be respect and honored, it represent a net revenu to the futur owner of 10000$)

34. 2022-11-01
    status Pending 163-char remark

    Show marketing remark (163 chars)

    (unit is already all booked from dec 25th 2022 to April 8 2023. these bookings must be respect and honored, it represent a net revenu to the futur owner of 10000$)

35. 2022-10-09
    listed $399,000 Active 163-char remark

    Show marketing remark (163 chars)

    (unit is already all booked from dec 25th 2022 to April 8 2023. these bookings must be respect and honored, it represent a net revenu to the futur owner of 10000$)

36. 2013-05-28
    soldstatus $210,000
37. 2012-12-27
    soldstatus $170,000
38. 1999-10-26
    soldstatus $46,700
39. 1999-03-29
    soldstatus $48,000
40. 1996-12-05
    soldstatus $65,000

ⓘ 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: $4,413 · $368/mo
• Projected year-2 tax: $4,413 · $368/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: $43,815
• − Mortgage interest: −$23,471
• − Property taxes: −$4,413
• − Insurance: −$7,214
• − Repairs & maintenance: −$3,505
• − Management: −$3,505
• − HOA: −$6,240
• − Depreciation: −$12,189
• Taxable loss: −$16,722
• Est. tax savings @ 24.0%: +$4,013
• After-tax cash flow: $-5,607/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

-96.0% since first listed

27 events — show timeline

• 2026-05-16 Rental Removed $2,590 MARMLS
• 2026-03-31 Price Changed $419,000 MARMLS
• 2026-02-17 Listed for Rent $2,590 MARMLS
• 2026-01-29 Rental Removed $2,590 ZUMPER1
• 2026-01-17 Listed for Rent $2,590 ZUMPER1
• 2026-01-17 Rental Removed $2,590 MARMLS
• 2026-01-03 Price Changed $2,590 MARMLS
• 2025-12-31 Listed for Rent $3,300 MARMLS
• 2025-12-21 Rental Removed $2,590 MARMLS
• 2025-12-18 Listed for Rent $2,590 MARMLS
• 2025-11-21 Rental Removed $2,590 MARMLS
• 2025-11-08 Listed for Rent $2,590 MARMLS
• 2025-11-01 Price Changed $439,000 MARMLS
• 2025-10-14 Listed $449,000 MARMLS
• 2024-07-28 Price Changed $450,000 MARMLS
• 2024-04-07 Listed $407,000 MARMLS
• 2023-10-20 Rental Removed $3,800 MARMLS
• 2023-09-06 Listed for Rent $3,800 MARMLS
• 2022-12-13 Sold (Public Records) $370,000 Public Records
• 2022-12-02 Sold (MLS) $370,000 MARMLS
• 2022-11-01 Pending — MARMLS
• 2022-10-09 Listed $399,000 MARMLS
• 2013-05-28 Sold (Public Records) $210,000 Public Records
• 2012-12-27 Sold (Public Records) $170,000 Public Records
• 1999-10-26 Sold (Public Records) $46,700 Public Records
• 1999-03-29 Sold (Public Records) $48,000 Public Records
• 1996-12-05 Sold (Public Records) $65,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,413 · -8.6% YoY. Source: county tax records.