1455 N Treasure Dr Unit 2M · North Bay Village, FL 33141

$232,900

1 bd · 1.0 ba · 817 sqft · Condo public records · 237 Days on market

Built 1966 $840/mo HOA · 24% of rent

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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 +19.9/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 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 MLS

Beautiful and Completely remodeled unit, ready for move in! All of the work was completed in 2018 with all new appliances, flooring, new AC unit, new Eco system High impact windows & Sliding door, and many more. Plenty of closet space with a large walk-in closet in the bedroom. No one has lived in the unit permanently it’s been used as secondary vacation home Washer & Dryer steps away outside the unit, all floors have washers and dryers per floor 1 assigned parking space per unit, plenty of street parking no permit required * * * * Island place has passed its 40-year recertification as well as the 50-year recertification and also the seawall inspection was also done and passed * * * *

Key facts

• Bayfront residence
• Prime location
• $840 HOA

Tags

• BAYFRONT RESIDENCE
• PRIME LOCATION
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association amenities include bike storage, fitness center, laundry, barbecue, picnic area, pool, trash service, and elevators; Association covers management, amenities, common areas, laundry, grounds maintenance, structure maintenance, parking, pest control, pool(s), sewer, trash, and water

Exterior

• Parking: Assigned parking; Guest parking; One designated space
• Security: Key card entry
• Utilities: Cable available; Heated pool
• Home design: Condominium/attached property; 2nd floor entry; 10-story building; Updated / remodeled; Bayfront waterfront
• Construction: Block construction
• Exterior features: Balcony (open); Security/high-impact doors

Interior

• Kitchen: Dishwasher; Electric range; Icemaker; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Breakfast bar; Walk-in closet(s); Elevator access
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $233k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (10.9% below list).
• Meets the 1% rule at list price ($3k rent vs $233k).
• Recommended offer: $205k (12.0% 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.
• 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); Miami Beach Senior High School (math 21% / reading 48%, grade F, #386 of 667 statewide, top 59%, 2,175 students, 40% FRL) — zoned schools average 48% FRL vs 64% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $3,474/mo this rent would consume 61% 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 237 days — a 12% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y ago; this cycle's ask is 11545% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $170k; 37% 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 24% 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 $204,952 (12.0% 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 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — 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. 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.
11. 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.
12. 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: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• 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: -25.8%
• Equity multiple: 0.16×
• Total profit: $-54,751
• Equity at exit: $34,726

10-year hold

• IRR: -50.4%
• Equity multiple: -0.38×
• Total profit: $-90,037
• Equity at exit: $20,137

Cash invested: $65,212 (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: 5.6×

Monthly cashflow live

• Estimated rent: $3,474 medium
• Mortgage (P&I): −$1,221
• Tax from tax record: −$303 /mo · $3,635/yr
• Insurance: −$97
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$840
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $-143

Break-even live

Break-even rent $3,655

Max offer price $207,594

Occupancy floor 99%

Sensitivity live

Price	-10% $-11	-5% $-77	+0% $-143	+5% $-209	+10% $-275
Rent	-10% $-418	-5% $-280	+0% $-143	+5% $-6	+10% $131
Rate	-1.0pp $-26	-0.5pp $-84	base $-143	+0.5pp $-204	+1.0pp $-265

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: $58,225
• Closing costs: $6,987
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $840 · $10,080/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $232,900 Active 237 DOM
2. 2026-06-18
   days on market $232,900 Active 234 DOM
3. 2026-06-17
   days on market $232,900 Active 233 DOM
4. 2026-06-16
   days on market $232,900 Active 232 DOM
5. 2026-06-15
   days on market $232,900 Active 231 DOM
6. 2026-06-13
   days on market $232,900 Active 229 DOM
7. 2026-06-09
   days on market $232,900 Active 225 DOM
8. 2026-06-08
   days on market $232,900 Active 224 DOM
9. 2026-06-08
   days on market $232,900 Active 223 DOM
10. 2026-06-04
    days on market $232,900 Active 220 DOM
11. 2026-06-03
    days on market $232,900 Active 219 DOM
12. 2026-06-02
    days on market $232,900 Active 218 DOM
13. 2026-06-01
    days on market $232,900 Active 217 DOM
14. 2026-05-31
    days on market $232,900 Active 216 DOM
15. 2026-02-06
    historical $2,000
16. 2026-02-04
    status Active
17. 2026-02-04
    status Pending
18. 2026-01-01
    listed $2,000
19. 2025-12-21
    historical $2,000
20. 2025-12-18
    listed $2,000
21. 2025-11-29
    historical $2,000
22. 2025-11-25
    listed $2,000
23. 2025-11-18
    price $232,900
24. 2025-11-18
    price $232,000
25. 2025-10-23
    listed $242,000 Active
26. 2021-10-25
    historical 725-char remark

    Show marketing remark (725 chars)

    Beautiful and Completely remodeled unit, ready for move in! All of the work was completed in 2018 with all new appliances, flooring, new AC unit, new Eco system High impact windows & Sliding door, and many more. Plenty of closet space with a large walk-in closet in the bedroom. No one has lived in the unit permanently it’s been used as secondary vacation home Washer & Dryer steps away outside the unit, all floors have washers and dryers per floor 1 assigned parking space per unit, plenty of street parking no permit required * * * * Island place has passed its 40-year recertification as well as the 50-year recertification and also the seawall inspection was also done and passed * * * *

27. 2021-10-22
    soldstatus $170,000
28. 2021-10-18
    soldstatus $170,000 Closed 725-char remark

    Show marketing remark (725 chars)

    Beautiful and Completely remodeled unit, ready for move in! All of the work was completed in 2018 with all new appliances, flooring, new AC unit, new Eco system High impact windows & Sliding door, and many more. Plenty of closet space with a large walk-in closet in the bedroom. No one has lived in the unit permanently it’s been used as secondary vacation home Washer & Dryer steps away outside the unit, all floors have washers and dryers per floor 1 assigned parking space per unit, plenty of street parking no permit required * * * * Island place has passed its 40-year recertification as well as the 50-year recertification and also the seawall inspection was also done and passed * * * *

29. 2021-08-03
    status Pending 725-char remark

    Show marketing remark (725 chars)

    Beautiful and Completely remodeled unit, ready for move in! All of the work was completed in 2018 with all new appliances, flooring, new AC unit, new Eco system High impact windows & Sliding door, and many more. Plenty of closet space with a large walk-in closet in the bedroom. No one has lived in the unit permanently it’s been used as secondary vacation home Washer & Dryer steps away outside the unit, all floors have washers and dryers per floor 1 assigned parking space per unit, plenty of street parking no permit required * * * * Island place has passed its 40-year recertification as well as the 50-year recertification and also the seawall inspection was also done and passed * * * *

30. 2021-07-22
    listed $190,000 Active 725-char remark

    Show marketing remark (725 chars)

    Beautiful and Completely remodeled unit, ready for move in! All of the work was completed in 2018 with all new appliances, flooring, new AC unit, new Eco system High impact windows & Sliding door, and many more. Plenty of closet space with a large walk-in closet in the bedroom. No one has lived in the unit permanently it’s been used as secondary vacation home Washer & Dryer steps away outside the unit, all floors have washers and dryers per floor 1 assigned parking space per unit, plenty of street parking no permit required * * * * Island place has passed its 40-year recertification as well as the 50-year recertification and also the seawall inspection was also done and passed * * * *

31. 2020-12-29
    soldstatus $186,000
32. 2017-12-28
    soldstatus $145,000 Sold 405-char remark

    Show marketing remark (405 chars)

    Bright & spacious 1 bedroom 1 bath condo with laminate floors in living area and bedroom. This apartment boasts an updated kitchen and bathroom, private balcony and 1 parking space. Building has just undergone a massive renovation to the public areas, including the water front pool deck, lobby and a gym. Convenient location, walk to restaurants and grocery. This is a Fannie Mae HomePath Property.

33. 2017-12-14
    status Pending 405-char remark

    Show marketing remark (405 chars)

    Bright & spacious 1 bedroom 1 bath condo with laminate floors in living area and bedroom. This apartment boasts an updated kitchen and bathroom, private balcony and 1 parking space. Building has just undergone a massive renovation to the public areas, including the water front pool deck, lobby and a gym. Convenient location, walk to restaurants and grocery. This is a Fannie Mae HomePath Property.

34. 2017-12-08
    price $149,900 405-char remark

    Show marketing remark (405 chars)

    Bright & spacious 1 bedroom 1 bath condo with laminate floors in living area and bedroom. This apartment boasts an updated kitchen and bathroom, private balcony and 1 parking space. Building has just undergone a massive renovation to the public areas, including the water front pool deck, lobby and a gym. Convenient location, walk to restaurants and grocery. This is a Fannie Mae HomePath Property.

35. 2017-11-07
    price $154,900 405-char remark

    Show marketing remark (405 chars)

    Bright & spacious 1 bedroom 1 bath condo with laminate floors in living area and bedroom. This apartment boasts an updated kitchen and bathroom, private balcony and 1 parking space. Building has just undergone a massive renovation to the public areas, including the water front pool deck, lobby and a gym. Convenient location, walk to restaurants and grocery. This is a Fannie Mae HomePath Property.

36. 2017-09-27
    listed $159,900 Active 405-char remark

    Show marketing remark (405 chars)

    Bright & spacious 1 bedroom 1 bath condo with laminate floors in living area and bedroom. This apartment boasts an updated kitchen and bathroom, private balcony and 1 parking space. Building has just undergone a massive renovation to the public areas, including the water front pool deck, lobby and a gym. Convenient location, walk to restaurants and grocery. This is a Fannie Mae HomePath Property.

37. 2014-06-30
    historical
38. 2014-05-14
    status Pending
39. 2014-04-24
    listed $139,900 Active
40. 2013-07-17
    historical
41. 2013-04-19
    status Pending

ⓘ 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: $3,635 · $303/mo
• Projected year-2 tax: $3,635 · $303/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 ≥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: $41,690
• − Mortgage interest: −$13,046
• − Property taxes: −$3,635
• − Insurance: −$6,283
• − Repairs & maintenance: −$3,335
• − Management: −$3,335
• − HOA: −$10,080
• − Depreciation: −$6,775
• Taxable loss: −$4,800
• Est. tax savings @ 24.0%: +$1,152
• After-tax cash flow: $-567/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

-98.6% since first listed

27 events — show timeline

• 2026-02-06 Rental Removed $2,000 MARMLS
• 2026-02-04 Relisted — MARMLS
• 2026-02-04 Pending — MARMLS
• 2026-01-01 Listed for Rent $2,000 MARMLS
• 2025-12-21 Rental Removed $2,000 MARMLS
• 2025-12-18 Listed for Rent $2,000 MARMLS
• 2025-11-29 Rental Removed $2,000 MARMLS
• 2025-11-25 Listed for Rent $2,000 MARMLS
• 2025-11-18 Price Changed $232,900 MARMLS
• 2025-11-18 Price Changed $232,000 MARMLS
• 2025-10-23 Listed $242,000 MARMLS
• 2021-10-25 Listing Removed — MARMLS
• 2021-10-22 Sold (Public Records) $170,000 Public Records
• 2021-10-18 Sold (MLS) $170,000 MARMLS
• 2021-08-03 Pending — MARMLS
• 2021-07-22 Listed $190,000 MARMLS
• 2020-12-29 Sold (Public Records) $186,000 Public Records
• 2017-12-28 Sold (MLS) $145,000 MARMLS
• 2017-12-14 Pending — MARMLS
• 2017-12-08 Price Changed $149,900 MARMLS
• 2017-11-07 Price Changed $154,900 MARMLS
• 2017-09-27 Listed $159,900 MARMLS
• 2014-06-30 Listing Removed — MARMLS
• 2014-05-14 Pending — MARMLS
• 2014-04-24 Listed $139,900 MARMLS
• 2013-07-17 Listing Removed — MARMLS
• 2013-04-19 Pending — MARMLS

Property tax history

+7.1%/yr

Latest (2025): $3,635 · +6.6% YoY. Source: county tax records.