881 Ocean Dr Apt 16F
Key Biscayne, FL 33149 · condos · For Sale · 11 days on market
Asking price$2,400,000
2 beds 2 baths 1,875 sqft
Suggested offer$1,494,544$905,456 above the est. market value of $1,494,544.
View on Realtor.com →Listed by Dolores Urdapilleta · Urdapilleta Real Estate, Llc
Typecondos
Built1971
Price / sqft$1280
Est. value (own analysis)$1,494,544
Rent estimate (own analysis)$7,625/mo
HOA$1,793/mo
Wind10/10Extreme$Flood9/10extreme$Air2/10MinorWildfire1/10Minimal
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Statusfor_sale
Listed date2026-08-22
Removed date—
MLSMiamiMLS #A12074546
Coordinates25.68567, -80.15725
Address881 Ocean Dr Apt 16F
CityKey Biscayne
StateFL
Zip33149
Listing ID6174527500
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 | $2,400,000 |
| Down payment (20.0%) | $480,000 |
| Loan amount | $1,920,000 |
| Closing costs (5.0%) | $120,000 |
| Total cash to close | $600,000 |
| Income | |
| Rent (comp-derived) | $7,625$91,500 |
| Vacancy loss (8.0%) | |
| Effective gross income | $7,015$84,180 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $3,800$45,600 |
| Insurance (est. scaled by flood & wind risk) | $3,520$42,240 |
| HOA dues | $1,793$21,516 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $381$4,575 |
| Total operating expenses | $9,494$113,931 |
| 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) | $381$4,575 |
| 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 | 2 | 2 | 1,532 | $5,000 | 2026-08-10 | — | |
| condos | 2 | 2 | 1,260 | $4,500 | 2026-06-29 | — | |
| condos | 2 | 2 | 1,496 | $10,000 | 2026-08-26 | — | |
| condos | 2 | 2 | 1,400 | $5,250 | 2026-07-20 | — | |
| condos | 2 | 2 | 1,454 | $6,000 | 2026-05-22 | — | |
| condos | 2 | 2 | 1,450 | $9,500 | 2026-08-28 | — | |
| condos | 2 | 2 | 1,460 | $5,450 | 2026-08-06 | — | |
| condos | 2 | 2 | 1,532 | $6,500 | 2026-07-30 | — | |
| condos | 2 | 2 | 1,496 | $9,000 | 2026-05-28 | — | |
| condos | 2 | 2 | 1,611 | $8,500 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,531 | $6,750 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,335 | $4,350 | 2026-04-29 | — | |
| condos | 2 | 2 | 1,260 | $5,000 | 2026-08-25 | — | |
| condos | 2 | 2 | 1,330 | $5,950 | 2026-08-27 | — | |
| condos | 2 | 2 | 1,532 | $8,500 | 2026-08-26 | — | |
| condos | 2 | 2 | 1,310 | $8,100 | 2026-08-17 | — | |
| condos | 2 | 3 | 2,060 | $12,500 | 2026-08-20 | — | |
| condos | 2 | 3 | 1,703 | $22,500 | 2026-08-26 | — | |
| condos | 2 | 3 | 2,100 | $13,000 | 2026-04-16 | — | |
| condos | 2 | 2 | 1,409 | $7,000 | 2026-08-17 | — | |
| apartment | 2 | 3 | 2,100 | $14,000 | 2026-06-10 | — | |
| condos | 2 | 2 | 1,541 | $6,500 | 2025-09-10 | — | |
| condos | 2 | 2 | 1,600 | $5,700 | 2026-07-21 | — | |
| condos | 2 | 2 | 1,875 | $7,900 | 2026-05-06 | — | |
| condos | 2 | 2 | 1,310 | $9,500 | 2025-02-20 | — | |
| condos | 2 | 2 | 1,260 | $5,900 | 2026-07-28 | — | |
| condos | 2 | 2 | 1,335 | $4,200 | 2026-06-05 | — | |
| condos | 2 | 2 | 1,330 | $5,100 | 2026-08-13 | — | |
| condos | 2 | 2 | 1,546 | $6,500 | 2026-06-09 | — | |
| condos | 2 | 2 | 1,330 | $4,500 | 2026-05-08 | — | |
| condos | 2 | 3 | 2,060 | $13,200 | 2026-04-10 | — | |
| condos | 2 | 2 | 1,260 | $5,500 | 2025-11-17 | — | |
| condos | 2 | 2 | 1,409 | $7,500 | 2024-09-03 | — | |
| condos | 2 | 2 | 1,782 | $10,000 | 2026-05-15 | — | |
| condos | 2 | 2 | 1,670 | $7,100 | 2026-04-23 | — | |
| condos | 2 | 2 | 1,330 | $4,500 | 2026-06-22 | — | |
| condos | 2 | 2 | 1,409 | $8,250 | 2026-08-03 | — | |
| condos | 2 | 2 | 1,547 | $6,500 | 2026-07-29 | — | |
| condos | 2 | 2 | 1,409 | $8,500 | 2026-05-22 | — | |
| condos | 2 | 2 | 1,546 | $8,300 | 2026-08-05 | — | |
| condos | 2 | 2 | 1,335 | $4,800 | 2026-07-22 | — | |
| condos | 2 | 2 | 1,546 | $10,000 | 2026-08-14 | — | |
| condos | 2 | 3 | 1,703 | $22,500 | 2026-07-27 | — | |
| condos | 2 | 3 | 1,880 | $15,500 | 2026-06-04 | — | |
| condos | 2 | 4 | 1,703 | $20,000 | 2026-08-14 | — | |
| condos | 2 | 2 | 1,532 | $7,000 | 2026-07-31 | — | |
| condos | 2 | 2 | 1,547 | $7,900 | 2026-07-01 | — | |
| condos | 2 | 4 | 1,703 | $25,500 | 2026-08-14 | — | |
| condos | 2 | 2 | 1,260 | $6,300 | 2026-04-24 | — | |
| condos | 2 | 2 | 1,260 | $6,500 | 2026-07-22 | — | |
| condos | 2 | 2 | 1,532 | $6,000 | 2026-07-03 | — | |
| condos | 2 | 4 | 1,542 | $18,000 | 2026-06-18 | — | |
| condos | 2 | 2 | 1,782 | $9,500 | 2026-07-21 | — | |
| condos | 2 | 2 | 1,260 | $7,000 | 2026-02-26 | — | |
| condos | 2 | 2 | 1,546 | $9,500 | 2026-05-28 | — | |
| condos | 2 | 2 | 1,532 | $7,800 | 2026-07-30 | — | |
| condos | 2 | 2 | 1,547 | $12,000 | 2026-08-05 | — | |
| condos | 2 | 2 | 1,782 | $7,750 | 2026-01-03 | — | |
| condos | 2 | 2 | 1,531 | $8,500 | 2026-06-22 | — | |
| condos | 2 | 2 | 1,310 | $7,900 | 2026-05-06 | — | |
| condos | 2 | 2 | 1,532 | $7,500 | 2026-08-06 | — | |
| condos | 2 | 2 | 1,260 | $6,350 | 2026-07-15 | — | |
| condos | 2 | 3 | 2,013 | $10,000 | 2026-06-10 | — | |
| condos | 2 | 2 | 1,532 | $7,400 | 2026-07-29 | — | |
| condos | 2 | 2 | 1,260 | $7,500 | 2026-08-05 | — | |
| condos | 2 | 2 | 1,600 | $6,800 | 2026-06-10 | — | |
| condos | 2 | 2 | 1,464 | $6,900 | 2026-04-25 | — | |
| condos | 2 | 2 | 1,260 | $6,600 | 2026-07-31 | — | |
| condos | 2 | 3 | 1,541 | $12,000 | 2026-05-21 | — | |
| condos | 2 | 2 | 1,531 | $9,500 | 2026-05-29 | — | |
| condos | 2 | 2 | 1,600 | $7,500 | 2024-11-21 | — | |
| condos | 2 | 2 | 1,546 | $11,000 | 2026-01-28 | — | |
| condos | 2 | 2 | 1,260 | $7,500 | 2026-01-30 | — | |
| condos | 2 | 2 | 1,821 | $7,800 | 2026-06-02 | — | |
| condos | 2 | 4 | 2,064 | $28,000 | 2026-06-02 | — | |
| condos | 2 | 2 | 1,450 | $7,800 | 2026-05-12 | — | |
| condos | 2 | 2 | 1,684 | $9,200 | 2026-04-20 | — | |
| condos | 2 | 3 | 1,703 | $20,000 | 2024-04-22 | — | |
| condos | 2 | 2 | 1,260 | $6,900 | 2026-07-21 | — | |
| condos | 2 | 2 | 1,350 | $8,000 | 2025-11-13 | — | |
| condos | 2 | 4 | 1,823 | $26,000 | 2026-04-09 | — | |
| condos | 2 | 2 | 1,790 | $12,990 | 2022-02-25 | — | |
| condos | 2 | 3 | 1,542 | $19,000 | 2025-09-02 | — | |
| condos | 2 | 2 | 1,584 | $7,500 | 2026-07-07 | — | |
| condos | 2 | 2 | 1,260 | $7,500 | — | — | |
| condos | 2 | 2 | 1,330 | $5,500 | 2026-08-31 | — | |
| condos | 2 | 2 | 1,409 | $7,200 | 2026-08-31 | — | |
| condos | 2 | 2 | 1,409 | $7,500 | 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 |
|---|---|---|---|---|---|---|
| 600 Grapetree Dr Apt 9GN | condos | 2 | 2 | 1,670 | $1,400,000 | 2026-08-21 |
| 1111 Crandon Blvd Apt B1108 | condos | 2 | 2 | 1,782 | $2,700,000 | 2026-08-14 |
| 1121 Crandon Blvd Apt D404 | condos | 2 | 2 | 1,409 | $1,066,687 | 2026-08-14 |
| 155 Ocean Lane Dr Apt 614 | condos | 2 | 2 | 1,350 | $1,380,000 | 2026-08-10 |
| 6222973225 | condos | 2 | 2 | 1,782 | $1,950,000 | 2026-08-07 |
| 201 Crandon Blvd Apt 424 | condos | 2 | 2 | 1,531 | $1,300,000 | 2026-08-06 |
| 101 Ocean Lane Dr Apt 1013 | condos | 2 | 2 | 1,450 | $875,000 | 2026-08-04 |
| 1121 Crandon Blvd Apt F1203 | condos | 2 | 2 | 1,597 | $1,500,000 | 2026-08-02 |
| 151 Crandon Blvd Apt 702 | condos | 2 | 2 | 1,506 | $1,250,000 | 2026-07-31 |
| 200 Ocean Lane Dr Apt 1102 | condos | 2 | 2 | 1,320 | $1,870,000 | 2026-07-17 |
| 181 Crandon Blvd Apt 106 | condos | 2 | 2 | 1,600 | $1,110,000 | 2026-07-17 |
| 575 Crandon Blvd Apt 707 | condos | 2 | 2 | 1,311 | $789,000 | 2026-07-13 |
| 181 Crandon Blvd Apt 405 | condos | 2 | 2 | 1,600 | $1,080,000 | 2026-07-13 |
| 199 Ocean Lane Dr Apt 512 | condos | 2 | 2 | 1,260 | $1,040,000 | 2026-07-13 |
| 151 Crandon Blvd Apt 602 | condos | 2 | 2 | 1,469 | $1,060,000 | 2026-07-07 |
| 881 Ocean Dr Apt 18F | condos | 2 | 2 | 1,875 | $2,450,000 | 2026-07-06 |
| 251 Crandon Blvd Apt 133 | condos | 2 | 2 | 1,537 | $1,120,000 | 2026-06-29 |
| 1121 Crandon Blvd Apt E803 | condos | 2 | 2 | 1,409 | $990,000 | 2026-06-29 |
| 151 Crandon Blvd Apt 1002 | condos | 2 | 2 | 1,506 | $1,705,000 | 2026-06-26 |
| 170 Ocean Lane Dr Apt 403 | condos | 2 | 2 | 1,435 | $1,020,000 | 2026-06-26 |
| 1121 Crandon Blvd Apt E501 | condos | 2 | 2 | 1,782 | $1,525,000 | 2026-06-25 |
| 151 Crandon Blvd Apt 600 | condos | 2 | 2 | 1,506 | $1,140,000 | 2026-06-23 |
| 177 Ocean Lane Dr Apt 106 | condos | 2 | 2 | 1,260 | $970,200 | 2026-06-19 |
| 789 Crandon Blvd Apt 1805 | condos | 2 | 3 | 2,100 | $3,200,000 | 2026-06-16 |
| 155 Ocean Lane Dr Apt 205 | condos | 2 | 2 | 1,260 | $1,025,000 | 2026-06-16 |
| 1121 Crandon Blvd Apt D1202 | condos | 2 | 2 | 1,782 | $1,842,500 | 2026-06-15 |
| 609 Ocean Dr Apt 5H | condos | 2 | 2 | 1,496 | $1,550,000 | 2026-05-07 |
| 550 Ocean Dr Apt 8B | condos | 2 | 2 | 1,325 | $825,000 | 2026-04-30 |
| 255 Galen Dr Apt 4A | condos | 2 | 2 | 1,036 | $720,000 | 2026-04-22 |
| 151 Crandon Blvd Apt 136 | condos | 2 | 2 | 1,532 | $1,400,000 | 2026-04-10 |
| 155 Ocean Lane Dr Apt 1113 | condos | 2 | 2 | 1,260 | $1,050,000 | 2026-04-10 |
| 251 Crandon Blvd Apt 625 | condos | 2 | 2 | 1,532 | $1,125,000 | 2026-04-07 |
| 575 Crandon Blvd Apt 306 | condos | 2 | 2 | 1,311 | $720,000 | 2026-03-31 |
| 251 Galen Dr Unit 204E | condos | 2 | 2 | 1,109 | $520,000 | 2026-03-30 |
| 151 Crandon Blvd Apt 928 | condos | 2 | 2 | 1,532 | $1,250,000 | 2026-03-30 |
| 251 Crandon Blvd Apt 237 | condos | 2 | 2 | 1,532 | $995,000 | 2026-03-19 |
| 733 Crandon Blvd Apt 405 | condos | 2 | 3 | 2,060 | $1,810,000 | 2026-03-16 |
| 251 Crandon Blvd Apt 441 | condos | 2 | 2 | 1,532 | $1,084,460 | 2026-03-03 |
| 265 Grapetree Dr Apt 110 | condos | 2 | 3 | 1,404 | $1,075,000 | 2026-02-27 |
| 881 Ocean Dr Apt 13C | condos | 2 | 2 | 1,875 | $1,910,000 | 2026-02-24 |
| 1121 Crandon Blvd Apt E504 | condos | 2 | 2 | 1,409 | $1,060,000 | 2026-02-23 |
| 177 Ocean Lane Dr Apt 212 | condos | 2 | 2 | 1,260 | $980,000 | 2026-02-11 |
| 199 Ocean Lane Dr Apt 313 | condos | 2 | 2 | 1,260 | $1,140,000 | 2026-02-06 |
| 445 Grand Bay Dr Apt 802 | condos | 2 | 3 | 2,950 | $2,730,000 | 2026-02-06 |
| 201 Galen Dr Apt 104 | condos | 2 | 2 | 1,109 | $535,000 | 2026-02-03 |
| 1121 Crandon Blvd Apt E304 | condos | 2 | 2 | 1,409 | $820,000 | 2026-01-30 |
| 1121 Crandon Blvd Apt D706 | condos | 2 | 2 | 1,409 | $1,300,000 | 2026-01-16 |
| 151 Crandon Blvd Apt 206 | condos | 2 | 2 | 1,547 | $990,000 | 2026-01-16 |
| 1121 Crandon Blvd Apt D604 | condos | 2 | 2 | 1,409 | $1,100,000 | 2026-01-14 |
| 360 Ocean Dr Unit 704S | condos | 2 | 4 | 1,703 | $4,600,000 | 2025-12-19 |
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 |
|---|---|---|---|---|---|---|
| 737 Crandon Blvd Ph 1 | condos | 2 | 3 | 2,060 | $2,250,000 | — |
| 177 Ocean Lane Dr Apt 208 | condos | 2 | 2 | 1,260 | $1,125,000 | — |
| 201 Crandon Blvd Apt 707 | condos | 2 | 2 | 1,880 | $2,100,000 | — |
| 170 Ocean Lane Dr Apt 310 | condos | 2 | 2 | 1,335 | $769,900 | — |
| 101 Crandon Blvd Apt 265 | condos | 2 | 2 | 1,790 | $1,495,000 | — |
| 613 Ocean Dr Apt 5D | condos | 2 | 2 | 1,496 | $1,770,000 | — |
| 1111 Crandon Blvd Apt B506 | condos | 2 | 2 | 1,409 | $1,350,000 | — |
| 77 Crandon Blvd Apt 5C | condos | 2 | 2 | 1,105 | $770,000 | — |
10-year hold projection
IRR-10.2%
Equity multiple-0.74x
Total return (10yr)-$732,033
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $2,472,000 | -$29,751 | -$182,387 | $1,899,183 | $572,817 |
| 2 | $2,546,160 | -$30,074 | -$182,825 | $1,876,936 | $669,224 |
| 3 | $2,622,545 | -$30,392 | -$183,260 | $1,853,162 | $769,383 |
| 4 | $2,701,221 | -$30,705 | -$183,694 | $1,827,755 | $873,466 |
| 5 | $2,782,258 | -$31,013 | -$184,124 | $1,800,603 | $981,654 |
| 6 | $2,865,726 | -$31,315 | -$184,552 | $1,771,587 | $1,094,138 |
| 7 | $2,951,697 | -$31,610 | -$184,977 | $1,740,578 | $1,211,119 |
| 8 | $3,040,248 | -$31,897 | -$185,397 | $1,707,440 | $1,332,808 |
| 9 | $3,131,456 | -$32,177 | -$185,813 | $1,672,026 | $1,459,429 |
| 10 | $3,225,399 | -$32,448 | -$186,223 | $1,634,181 | $1,591,219 |
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.