350 Ocean Dr Unit 701N
Key Biscayne, FL 33149 · condos · For Sale · 209 days on market
Asking price$11,495,000
4 beds 6 baths 3,787 sqft
Suggested offer$3,985,590$7,509,410 above the est. market value of $3,985,590.
View on Realtor.com →Listed by Lucia Marin · One Sotheby's International Realty
Typecondos
Built2014
Price / sqft$3035
Est. value (own analysis)$3,985,590
Rent estimate (own analysis)$15,000/mo
HOANone
1 / 53
Show every detail
Statusfor_sale
Listed date2026-02-05
Removed date—
MLSMiamiMLS #A11958326
Coordinates25.69459, -80.15772
Address350 Ocean Dr Unit 701N
CityKey Biscayne
StateFL
Zip33149
Listing ID5963581138
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 | $11,495,000 |
| Down payment (20.0%) | $2,299,000 |
| Loan amount | $9,196,000 |
| Closing costs (5.0%) | $574,750 |
| Total cash to close | $2,873,750 |
| Income | |
| Rent (comp-derived) | $15,000$180,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $13,800$165,600 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $18,200$218,405 |
| Insurance (placeholder 0.8% of price) | $7,663$91,960 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $750$9,000 |
| Total operating expenses | $26,614$319,365 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $750$9,000 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| condos | 4 | 3 | 1,650 | $12,000 | 2026-07-17 | — | |
| condos | 4 | 5 | 2,957 | $15,000 | 2026-04-20 | — | |
| condos | 4 | 3 | 2,174 | $18,000 | 2026-03-20 | — |
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.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 50 Ocean Lane Dr Apt 601 | condos | 4 | 3 | 1,730 | $1,500,000 | 2026-08-20 |
| 791 Crandon Blvd Apt 1408 | condos | 4 | 6 | 5,207 | $9,400,000 | 2026-06-26 |
| 200 Sunrise Dr Unit 200C | condos | 4 | 4 | 1,750 | $1,800,000 | 2026-04-20 |
| 151 Crandon Blvd Apt 1226 | condos | 4 | 4 | 3,127 | $2,100,000 | 2026-04-10 |
| 765 Crandon Blvd Apt 102 | condos | 4 | 5 | 3,368 | $3,625,000 | 2026-04-08 |
| 791 Crandon Blvd Apt 507 | condos | 4 | 6 | 3,581 | $6,400,000 | 2026-03-31 |
| 202 Sunrise Dr Unit 202C | condos | 4 | 4 | 1,750 | $1,750,000 | 2026-01-22 |
| 200 Sunrise Dr Unit 200A | condos | 4 | 4 | 1,750 | $2,000,000 | 2025-12-03 |
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.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 200 Ocean Lane Dr Apt 501 | condos | 4 | 4 | 1,880 | $3,850,000 | — |
| 201 Crandon Blvd Apt 174 | townhomes | 4 | 6 | 3,254 | $5,100,000 | — |
| 255 Ridgewood Rd | single_family | 4 | 3 | 2,177 | $3,550,000 | — |
| 100 Cape Florida Dr | single_family | 4 | 9 | 8,240 | $19,800,000 | — |
| 161 Cape Florida Dr | single_family | 4 | 6 | 6,661 | $14,990,000 | — |
| 640 S Mashta Dr | single_family | 4 | 4 | 3,620 | $16,800,000 | — |
| 631 N Mashta Dr | single_family | 4 | 5 | 2,255 | $18,500,000 | — |
| 445 Grand Bay Dr Apt 303 | condos | 4 | 5 | 3,480 | $3,850,000 | — |
10-year hold projection
IRR-10.3%
Equity multiple-0.76x
Total return (10yr)-$3,549,625
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $11,839,850 | -$153,765 | -$871,917 | $9,096,295 | $2,743,555 |
| 2 | $12,195,046 | -$156,781 | -$875,158 | $8,989,743 | $3,205,302 |
| 3 | $12,560,897 | -$159,848 | -$878,455 | $8,875,874 | $3,685,023 |
| 4 | $12,937,724 | -$162,966 | -$881,809 | $8,754,186 | $4,183,538 |
| 5 | $13,325,855 | -$166,135 | -$885,221 | $8,624,141 | $4,701,715 |
| 6 | $13,725,631 | -$169,356 | -$888,691 | $8,485,166 | $5,240,466 |
| 7 | $14,137,400 | -$172,630 | -$892,219 | $8,336,647 | $5,800,753 |
| 8 | $14,561,522 | -$175,958 | -$895,807 | $8,177,929 | $6,383,593 |
| 9 | $14,998,368 | -$179,338 | -$899,455 | $8,008,312 | $6,990,056 |
| 10 | $15,448,319 | -$182,773 | -$903,164 | $7,827,047 | $7,621,272 |
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.