199 Ocean Lane Dr Apt 401
Key Biscayne, FL 33149 · condos · For Sale · 188 days on market
Asking price$4,500,000
4 beds 4 baths 2,825 sqft
Suggested offer$2,973,143$1,526,857 above the est. market value of $2,973,143.
View on Realtor.com →Listed by Florencia Yagodnik · Swann Realty Partners, LLC.
Typecondos
Built1974
Price / sqft$1593
Est. value (own analysis)$2,973,143
Rent estimate (own analysis)$15,000/mo
HOA$2,893/mo
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Statusfor_sale
Listed date2026-02-26
Removed date—
MLSMiamiMLS #A11970482
Coordinates25.69931, -80.15710
Address199 Ocean Lane Dr Apt 401
CityKey Biscayne
StateFL
Zip33149
Listing ID6124293009
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 | $4,500,000 |
| Down payment (20.0%) | $900,000 |
| Loan amount | $3,600,000 |
| Closing costs (5.0%) | $225,000 |
| Total cash to close | $1,125,000 |
| 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) | $7,125$85,500 |
| Insurance (placeholder 0.8% of price) | $3,000$36,000 |
| HOA dues | $2,893$34,716 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $750$9,000 |
| Total operating expenses | $13,768$165,216 |
| 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-7.0%
Equity multiple-0.19x
Total return (10yr)-$746,004
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $4,635,000 | $384 | -$286,231 | $3,560,968 | $1,074,032 |
| 2 | $4,774,050 | $1,222 | -$285,618 | $3,519,256 | $1,254,794 |
| 3 | $4,917,272 | $2,105 | -$284,965 | $3,474,679 | $1,442,593 |
| 4 | $5,064,790 | $3,036 | -$284,271 | $3,427,041 | $1,637,749 |
| 5 | $5,216,733 | $4,017 | -$283,532 | $3,376,132 | $1,840,602 |
| 6 | $5,373,235 | $5,049 | -$282,748 | $3,321,726 | $2,051,509 |
| 7 | $5,534,432 | $6,135 | -$281,917 | $3,263,585 | $2,270,847 |
| 8 | $5,700,465 | $7,277 | -$281,036 | $3,201,451 | $2,499,014 |
| 9 | $5,871,479 | $8,477 | -$280,103 | $3,135,050 | $2,736,429 |
| 10 | $6,047,624 | $9,738 | -$279,116 | $3,064,090 | $2,983,534 |
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.