55 Ocean Lane Dr Apt 3030
Key Biscayne, FL 33149 · condos · For Sale · 117 days on market
Asking price$580,000
1 beds 2 baths 972 sqft
Listed by Milayda Urena (Milly) · Avanti Way Brickell
Typecondos
Built1982
Price / sqft$597
Est. value (own analysis)$700,102
Rent estimate (own analysis)$3,450/mo
HOA$1,064/mo
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Statusfor_sale
Listed date2026-05-08
Removed date—
MLSMiamiMLS #A12015431
Coordinates25.69971, -80.16064
Address55 Ocean Lane Dr Apt 3030
CityKey Biscayne
StateFL
Zip33149
Listing ID6163049589
Sourceus-real-estate-listings, cached 2026-08-28
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 | $580,000 |
| Down payment (20.0%) | $116,000 |
| Loan amount | $464,000 |
| Closing costs (5.0%) | $29,000 |
| Total cash to close | $145,000 |
| Income | |
| Rent (comp-derived) | $3,450$41,400 |
| Vacancy loss (8.0%) | |
| Effective gross income | $3,174$38,088 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $918$11,020 |
| Insurance (placeholder 0.8% of price) | $387$4,640 |
| HOA dues | $1,064$12,768 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $173$2,070 |
| Total operating expenses | $2,542$30,498 |
| 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) | $173$2,070 |
| 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 | 1 | 2 | 725 | $3,000 | 2026-08-05 | — | |
| condos | 1 | 2 | 972 | $3,150 | 2026-05-08 | — | |
| condos | 1 | 1 | 676 | $3,250 | 2026-08-25 | — | |
| condos | 1 | 2 | 1,103 | $4,300 | 2026-07-29 | — | |
| condos | 1 | 2 | 1,059 | $5,000 | 2026-04-30 | — | |
| condos | 1 | 2 | 744 | $3,350 | 2026-06-22 | — | |
| condos | 1 | 2 | 895 | $4,000 | 2026-07-02 | — | |
| apartment | 1 | 2 | 725 | $3,250 | 2026-04-17 | — | |
| condos | 1 | 2 | 895 | $4,500 | 2026-08-10 | — | |
| condos | 1 | 2 | 895 | $5,000 | 2026-08-20 | — | |
| condos | 1 | 2 | 972 | $3,550 | 2026-01-07 | — | |
| condos | 1 | 2 | 875 | $3,350 | 2026-06-03 | — | |
| condos | 1 | 2 | 840 | $5,000 | 2026-08-04 | — | |
| condos | 1 | 2 | 1,009 | $5,500 | 2026-07-16 | — | |
| condos | 1 | 2 | 875 | $3,350 | — | — | |
| condos | 1 | 1 | 676 | $2,799 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 255 Sunrise Dr Apt 207 | condos | 1 | 1 | 676 | $480,000 | 2026-08-03 |
| 155 Ocean Lane Dr Apt 707 | condos | 1 | 2 | 895 | $635,000 | 2026-07-30 |
| 100 Ocean Lane Dr Apt 202 | condos | 1 | 2 | 870 | $512,500 | 2026-07-24 |
| 300 Sunrise Dr Apt 1B | condos | 1 | 1 | 590 | $430,000 | 2026-07-10 |
| 455 Grand Bay Dr Unit 618-19 | condos | 1 | 1 | 791 | $1,605,000 | 2026-07-01 |
| 177 Ocean Lane Dr Apt 302 | condos | 1 | 2 | 840 | $780,000 | 2026-06-05 |
| 177 Ocean Lane Dr Apt 703 | condos | 1 | 2 | 840 | $854,000 | 2026-05-28 |
| 77 Crandon Blvd Apt 5B | condos | 1 | 2 | 744 | $480,000 | 2026-05-26 |
| 101 Ocean Lane Dr Apt 205 | condos | 1 | 2 | 972 | $530,000 | 2026-04-16 |
| 290 Sunrise Dr Unit 2L | condos | 1 | 1 | 610 | $490,000 | 2026-04-08 |
| 325 Fernwood Rd Apt 5 | condos | 1 | 1 | 474 | $395,000 | 2026-02-02 |
| 155 Ocean Lane Dr Apt 706 | condos | 1 | 2 | 895 | $637,000 | 2026-01-20 |
| 55 Ocean Lane Dr Apt 1026 | condos | 1 | 2 | 972 | $550,000 | 2025-10-31 |
| 200 Ocean Lane Dr Apt 305 | condos | 1 | 2 | 1,259 | $920,000 | 2025-09-11 |
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.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 200 Galen Dr Apt 202 | condos | 1 | 2 | 730 | $399,000 | — |
| 255 Sunrise Dr Apt 107 | condos | 1 | 1 | 608 | $459,000 | — |
| condos | 1 | 2 | 895 | $845,000 | — | |
| 155 Ocean Lane Dr Apt 302 | condos | 1 | 2 | 895 | $749,000 | — |
| 210 Sea View Dr Apt 207 | condos | 1 | 2 | 875 | $579,000 | — |
| 200 Ocean Lane Dr Apt PB4 | condos | 1 | 1 | 1,217 | $1,400,000 | — |
| 100 Ocean Lane Dr Apt 303 | condos | 1 | 2 | 870 | $505,000 | — |
| 251 Galen Dr Apt 302 | condos | 1 | 2 | 854 | $480,000 | — |
10-year hold projection
IRR-3.9%
Equity multiple0.36x
Total return (10yr)-$17,506
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $597,400 | $7,590 | -$30,261 | $458,969 | $138,431 |
| 2 | $615,322 | $7,970 | -$29,933 | $453,593 | $161,729 |
| 3 | $633,782 | $8,366 | -$29,591 | $447,847 | $185,934 |
| 4 | $652,795 | $8,777 | -$29,234 | $441,707 | $211,088 |
| 5 | $672,379 | $9,204 | -$28,862 | $435,146 | $237,233 |
| 6 | $692,550 | $9,649 | -$28,475 | $428,133 | $264,417 |
| 7 | $713,327 | $10,111 | -$28,071 | $420,640 | $292,687 |
| 8 | $734,727 | $10,591 | -$27,651 | $412,631 | $322,095 |
| 9 | $756,768 | $11,090 | -$27,214 | $404,073 | $352,696 |
| 10 | $779,472 | $11,608 | -$26,758 | $394,927 | $384,545 |
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.