1800 Sans Souci Blvd #115 · North Miami, FL 33181

$177,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 82 Days on market

Built 1971 $450/mo HOA · 14% of rent ↓ 27% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious and well located unit in the heart of North Miami. This unit offers a fantastic opportunity for buyers looking to customize and create their ideal living space. Priced to sell and full potential, this unit is ideal for both end-users and investors. Don't miss this chance to own in a prime location with endless possibilities! Seller is motivated!

Key facts

• $450 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee ($450); Association includes amenities, common areas, laundry, structure maintenance, parking, pest control, pool(s), sewer and water; Association amenities: fitness center, laundry, pool, elevators

Exterior

• Parking: Assigned parking (one space)
• Security: Key card entry
• Utilities: Water included in association amenities; Sewer included in association amenities; Electric service (for heating/cooling)
• Home design: Attached property; North-facing; Entry level: 1
• Construction: Block construction; Effective year built; 1 story (unit); Building has 5 total stories
• Exterior features: Balcony (open); Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Bedroom on main level; Combined living/dining area; Tile flooring; Unfurnished
• Laundry & utility: Shared/common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $177k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $177k).
• Recommended offer: $166k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 4.1% in North Miami — 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 83/100 on livability (#51 in FL, #914 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, employment D.
• 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 soft (-0.1%/yr); 340 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $3,118/mo this rent would consume 59% of the median local household income ($63k/yr) (locally 1914% 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 $1k of loan paydown is wiped out by about $5k 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 82 days — a 6% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y 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.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,380 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.76% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.73%
• DSCR: 1.79
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.64×
• Total profit: $-17,731
• Equity at exit: $26,391

10-year hold

• IRR: -9.8%
• Equity multiple: 0.53×
• Total profit: $-23,166
• Equity at exit: $15,304

Cash invested: $49,560 (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 33181

• Rents YoY: -0.1%
• Active inventory: 340
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,118 medium
• Mortgage (P&I): −$928
• Tax from tax record: −$279 /mo · $3,352/yr
• Insurance: −$74
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$450
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $306

Break-even live

Break-even rent $2,731

Max offer price $177,000

Occupancy floor 85%

Sensitivity live

Price	-10% $406	-5% $356	+0% $306	+5% $256	+10% $205
Rent	-10% $59	-5% $182	+0% $306	+5% $429	+10% $552
Rate	-1.0pp $395	-0.5pp $351	base $306	+0.5pp $260	+1.0pp $213

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 49 events

1. 2026-06-21
   days on market $177,000 Active 82 DOM
2. 2026-06-18
   days on market $177,000 Active 79 DOM
3. 2026-06-17
   days on market $177,000 Active 78 DOM
4. 2026-06-16
   days on market $177,000 Active 77 DOM
5. 2026-06-15
   days on market $177,000 Active 76 DOM
6. 2026-06-13
   days on market $177,000 Active 74 DOM
7. 2026-06-09
   days on market $177,000 Active 70 DOM
8. 2026-06-08
   days on market $177,000 Active 69 DOM
9. 2026-06-07
   days on market $177,000 Active 68 DOM
10. 2026-06-04
    days on market $177,000 Active 65 DOM
11. 2026-06-03
    days on market $177,000 Active 64 DOM
12. 2026-06-02
    days on market $177,000 Active 63 DOM
13. 2026-06-01
    days on market $177,000 Active 62 DOM
14. 2026-05-31
    days on market $177,000 Active 61 DOM
15. 2026-05-14
    price $177,000
16. 2026-03-31
    listed $177,099 Active
17. 2026-03-15
    historical
18. 2026-02-13
    price $175,999
19. 2026-01-05
    listed $176,086 Active
20. 2025-12-22
    historical
21. 2025-12-16
    price $177,094
22. 2025-12-05
    price $177,095
23. 2025-09-26
    listed $177,099 Active
24. 2025-09-22
    historical
25. 2025-09-02
    price $177,455
26. 2025-09-02
    status Active
27. 2025-08-18
    price $178,000
28. 2025-08-11
    price $179,000
29. 2025-07-23
    price $185,000
30. 2025-07-14
    price $190,000
31. 2025-07-07
    price $193,450
32. 2025-05-29
    historical $1,650
33. 2025-05-20
    listed $193,500 Active
34. 2025-05-09
    historical
35. 2025-04-20
    listed $1,650
36. 2025-04-11
    historical $1,650
37. 2025-04-03
    price $193,500
38. 2025-03-29
    listed $1,700
39. 2025-03-17
    historical $1,700
40. 2025-02-24
    price $195,000
41. 2025-01-28
    listed $1,800
42. 2024-12-12
    listed $199,900 Active
43. 2023-04-27
    soldstatus $195,000
44. 2023-04-10
    soldstatus $195,000 Closed
45. 2023-03-19
    status Pending
46. 2023-03-08
    historical Active Under Contract
47. 2023-02-24
    price $229,000
48. 2023-02-24
    price $229
49. 2023-01-10
    listed $241,900 Active

ⓘ 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: $3,352 · $279/mo
• Projected year-2 tax: $3,352 · $279/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 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 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: $37,420
• − Mortgage interest: −$9,915
• − Property taxes: −$3,352
• − Insurance: −$6,004
• − Repairs & maintenance: −$2,994
• − Management: −$2,994
• − HOA: −$5,400
• − Depreciation: −$5,149
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $3,281/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 Miami

• Score: 83/100
• State rank: #51
• US rank: #914

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 99,437
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,848
• Household income: $63,275
• Rent vs Own: 62.4% rent · 37.6% own
• Severe rent burden: 1914.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 44% Black 29% Two or more races 23% White 22% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 8% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 18% Lithuanian 3% Italian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 28% English-only · Spanish 44% French/Haitian/Cajun 18% Other Indo-European 4%

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: ▼ -334.57%
• Current HPI: 341.3285
• Rent YoY: ▼ -0.11%
• 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

-26.8% since first listed

35 events — show timeline

• 2026-05-14 Price Changed $177,000 MARMLS
• 2026-03-31 Listed $177,099 MARMLS
• 2026-03-15 Listing Removed — MARMLS
• 2026-02-13 Price Changed $175,999 MARMLS
• 2026-01-05 Listed $176,086 MARMLS
• 2025-12-22 Listing Removed — MARMLS
• 2025-12-16 Price Changed $177,094 MARMLS
• 2025-12-05 Price Changed $177,095 MARMLS
• 2025-09-26 Listed $177,099 MARMLS
• 2025-09-22 Listing Removed — MARMLS
• 2025-09-02 Price Changed $177,455 MARMLS
• 2025-09-02 Relisted — MARMLS
• 2025-08-18 Price Changed $178,000 MARMLS
• 2025-08-11 Price Changed $179,000 MARMLS
• 2025-07-23 Price Changed $185,000 MARMLS
• 2025-07-14 Price Changed $190,000 MARMLS
• 2025-07-07 Price Changed $193,450 MARMLS
• 2025-05-29 Rental Removed $1,650 MARMLS
• 2025-05-20 Listed $193,500 MARMLS
• 2025-05-09 Listing Removed — MARMLS
• 2025-04-20 Listed for Rent $1,650 MARMLS
• 2025-04-11 Rental Removed $1,650 MARMLS
• 2025-04-03 Price Changed $193,500 MARMLS
• 2025-03-29 Listed for Rent $1,700 MARMLS
• 2025-03-17 Rental Removed $1,700 MARMLS
• 2025-02-24 Price Changed $195,000 MARMLS
• 2025-01-28 Listed for Rent $1,800 MARMLS
• 2024-12-12 Listed $199,900 MARMLS
• 2023-04-27 Sold (Public Records) $195,000 Public Records
• 2023-04-10 Sold (MLS) $195,000 MARMLS
• 2023-03-19 Pending — MARMLS
• 2023-03-08 Contingent — MARMLS
• 2023-02-24 Price Changed $229,000 MARMLS
• 2023-02-24 Price Changed $229 MARMLS
• 2023-01-10 Listed $241,900 MARMLS

Property tax history

+10.4%/yr

Latest (2025): $3,352 · -6.1% YoY. Source: county tax records.