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200 Ocean Lane Dr Apt PB4

Key Biscayne, FL 33149 · condos · For Sale · 15 days on market
Asking price$1,400,000
1 beds 1 baths 1,217 sqft
Suggested offer$876,569$523,431 above the est. market value of $876,569.
View on Realtor.com →
Listed by Martine Paulin · COMPASS
Typecondos
Built1961
Price / sqft$1150
Est. value (own analysis)$876,569
Rent estimate (own analysis)$4,300/mo
HOA$2,051/mo
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Street view
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-08-18
Removed date—
MLSMiamiMLS #A12070349
Coordinates25.69856, -80.15710
Address200 Ocean Lane Dr Apt PB4
CityKey Biscayne
StateFL
Zip33149
Listing ID5402771994
Sourceus-real-estate-listings, cached 2026-08-31

ZIP market snapshot (33149)

Typical home value (ZHVI)$1,692,135
Typical rent (ZORI)$7,910/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.

Underwriting (buy-and-hold, default assumptions)

Acquisition (one-time, not monthly/yearly)
Purchase price$1,400,000
Down payment (20.0%)$280,000
Loan amount$1,120,000
Closing costs (5.0%)$70,000
Total cash to close$350,000
Income
Rent (comp-derived)$4,300$51,600
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$51,600
Vacancy rate (assumption) assumption8.0%

$51,600 × 8.0% = $4,128

Effective gross income$3,956$47,472
Operating expenses
Property tax (placeholder 1.9% of price)$2,217$26,600
Insurance (placeholder 0.8% of price)$933$11,200
HOA dues$2,051$24,612
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$215$2,580
Total operating expenses$5,416$64,992
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$47,472
Total operating expenses derived$64,992

$47,472 − $64,992 = -$17,520

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$1,120,000
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$1,120,000 amortized at 6.7% over 30 years = $7,197/mo

CapEx reserve (5.0% of GSR)$215$2,580
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived-$17,520
Annual debt service derived$86,369
Annual CapEx reserve assumption$2,580
Annual PMI assumption$0

(-$17,520 − $86,369 − $2,580 − $0) ÷ 12 = -$8,872

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived-$17,520
Purchase price data$1,400,000

-$17,520 ÷ $1,400,000 = -1.3%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$106,469
Total cash to close derived$350,000

-$106,469 ÷ $350,000 = -30.4%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived-$17,520
Annual debt service derived$86,369

-$17,520 ÷ $86,369 = -0.20

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$51,600
Purchase price data$1,400,000

($51,600 ÷ 12) ÷ $1,400,000 = 0.3%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$1,400,000
Gross scheduled rent (annual) comp$51,600

$1,400,000 ÷ $51,600 = 27.1

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$64,992
Effective gross income derived$47,472

$64,992 ÷ $47,472 = 136.9%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$64,992
Annual debt service derived$86,369
Annual PMI assumption$0
Gross scheduled rent (annual) comp$51,600

($64,992 + $86,369 + $0) ÷ $51,600 = 293.3%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
condos12972$3,1502026-05-08—
condos121,103$4,3002026-07-29—
condos121,059$5,0002026-04-30—
condos12895$4,0002026-07-02—
condos12895$4,5002026-08-10—
condos12895$5,0002026-08-20—
condos12972$3,5502026-01-07—
condos12875$3,3502026-06-03—
condos12840$5,0002026-08-04—
condos121,009$5,5002026-07-16—
condos12875$3,350——

55 Ocean Lane Dr Apt 3030

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage972
Listed2026-05-08
Days on market—

Asking rent: $3,150

View on Zillow →

151 Crandon Blvd Apt 127

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage1,103
Listed2026-07-29
Days on market—

Asking rent: $4,300

View on Zillow →

201 Crandon Blvd Apt 505

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage1,059
Listed2026-04-30
Days on market—

Asking rent: $5,000

View on Zillow →

199 Ocean Lane Dr Apt 903

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage895
Listed2026-07-02
Days on market—

Asking rent: $4,000

View on Zillow →

155 Ocean Lane Dr Apt 702

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage895
Listed2026-08-10
Days on market—

Asking rent: $4,500

View on Zillow →

199 Ocean Lane Dr Apt 902

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage895
Listed2026-08-20
Days on market—

Asking rent: $5,000

View on Zillow →

55 Ocean Lane Dr Apt 1030

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage972
Listed2026-01-07
Days on market—

Asking rent: $3,550

View on Zillow →

210 Sea View Dr Apt 207

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage875
Listed2026-06-03
Days on market—

Asking rent: $3,350

View on Zillow →

177 Ocean Lane Dr Apt 1203

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage840
Listed2026-08-04
Days on market—

Asking rent: $5,000

View on Zillow →

201 Crandon Blvd Apt 220

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage1,009
Listed2026-07-16
Days on market—

Asking rent: $5,500

View on Zillow →

210 Sea View Dr # CU207

Key Biscayne, 33149 · rent comp

Bedrooms / bathrooms1 bd / 2 ba
Square footage875
Listed—
Days on market—

Asking rent: $3,350

View on Zillow →

Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.

AddressTypeBedsBathsLiving sqftSale priceSale date
255 Sunrise Dr Apt 207condos11676$480,0002026-08-03
155 Ocean Lane Dr Apt 707condos12895$635,0002026-07-30
100 Ocean Lane Dr Apt 202condos12870$512,5002026-07-24
300 Sunrise Dr Apt 1Bcondos11590$430,0002026-07-10
455 Grand Bay Dr Unit 618-19condos11791$1,605,0002026-07-01
177 Ocean Lane Dr Apt 302condos12840$780,0002026-06-05
177 Ocean Lane Dr Apt 703condos12840$854,0002026-05-28
77 Crandon Blvd Apt 5Bcondos12744$480,0002026-05-26
101 Ocean Lane Dr Apt 205condos12972$530,0002026-04-16
290 Sunrise Dr Unit 2Lcondos11610$490,0002026-04-08
325 Fernwood Rd Apt 5condos11474$395,0002026-02-02
155 Ocean Lane Dr Apt 706condos12895$637,0002026-01-20
55 Ocean Lane Dr Apt 1026condos12972$550,0002025-10-31
200 Ocean Lane Dr Apt 305condos121,259$920,0002025-09-11

Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.

AddressTypeBedsBathsSqftAsking priceDays on market
200 Galen Dr Apt 202condos12730$399,000—
255 Sunrise Dr Apt 107condos11608$459,000—
condos12895$845,000—
55 Ocean Lane Dr Apt 3030condos12972$580,000—
155 Ocean Lane Dr Apt 302condos12895$749,000—
210 Sea View Dr Apt 207condos12875$579,000—
100 Ocean Lane Dr Apt 303condos12870$505,000—
251 Galen Dr Apt 302condos12854$480,000—

10-year hold projection

IRR-10.2%
Equity multiple-0.75x
Total return (10yr)-$428,302
YearProperty valueNOICash flowLoan balanceEquity
1$1,442,000-$17,520-$106,469$1,107,857$334,143
2$1,485,260-$17,721-$106,734$1,094,880$390,380
3$1,529,818-$17,919-$106,999$1,081,011$448,807
4$1,575,712-$18,115-$107,263$1,066,191$509,522
5$1,622,984-$18,309-$107,526$1,050,352$572,632
6$1,671,673-$18,499-$107,787$1,033,426$638,247
7$1,721,823-$18,687-$108,048$1,015,338$706,486
8$1,773,478-$18,870-$108,306$996,007$777,471
9$1,826,682-$19,050-$108,563$975,349$851,333
10$1,881,483-$19,226-$108,817$953,273$928,210
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.