960 Mariner Dr
Key Biscayne, FL 33149 · single_family · For Sale · 569 days on market
Asking price$19,500,000
6 beds 10 baths 7,742 sqft
Suggested offer$12,163,147$7,336,853 above the est. market value of $12,163,147.
View on Realtor.com →Listed by Francisco Neri · The Corcoran Group
Typesingle_family
Built2025
Price / sqft$2519
Est. value (own analysis)$12,163,147
Rent estimate (own analysis)$27,000/mo
HOANone
1 / 80
Show every detail
Statusfor_sale
Listed date2025-02-10
Removed date—
MLSMiamiMLS #A11731927
Coordinates25.68443, -80.16719
Address960 Mariner Dr
CityKey Biscayne
StateFL
Zip33149
Listing ID6229867424
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 | $19,500,000 |
| Down payment (20.0%) | $3,900,000 |
| Loan amount | $15,600,000 |
| Closing costs (5.0%) | $975,000 |
| Total cash to close | $4,875,000 |
| Income | |
| Rent (comp-derived) | $27,000$324,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $24,840$298,080 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $30,875$370,500 |
| Insurance (placeholder 0.8% of price) | $13,000$156,000 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $1,350$16,200 |
| Total operating expenses | $45,225$542,700 |
| 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) | $1,350$16,200 |
| 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 |
|---|---|---|---|---|---|---|---|
| single_family | 6 | 7 | 8,202 | $368,050 | 2024-04-14 | — | |
| single_family | 6 | 5 | 3,356 | $21,400 | 2026-02-06 | — | |
| single_family | 6 | 6 | 4,007 | $27,000 | 2026-08-05 | — | |
| single_family | 6 | 9 | 4,757 | $21,500 | 2026-03-02 | — | |
| single_family | 6 | 7 | 6,433 | $75,000 | 2026-05-26 | — |
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 |
|---|---|---|---|---|---|---|
| 762 Fernwood Rd | single_family | 6 | 5 | 3,584 | $5,690,000 | 2026-06-15 |
| 285 Woodcrest Rd | single_family | 6 | 6 | 3,520 | $6,700,000 | 2026-04-22 |
| 635 Curtiswood Dr | single_family | 6 | 6 | 3,888 | $4,950,000 | 2026-04-20 |
| 180 Cape Florida Dr | single_family | 6 | 8 | 8,031 | $21,000,000 | 2026-02-26 |
| 320 Atlantic Rd | single_family | 6 | 7 | 5,275 | $8,200,000 | 2026-02-25 |
| 320 Woodcrest Rd | single_family | 6 | 5 | 3,737 | $5,220,000 | 2025-10-06 |
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 |
|---|---|---|---|---|---|---|
| 420 Island Dr | single_family | 6 | 8 | 6,405 | $12,485,000 | — |
| 120 Knollwood Dr | single_family | 6 | 7 | 6,208 | $19,950,000 | — |
| 650 Curtiswood Dr | single_family | 6 | 5 | 3,356 | $5,199,000 | — |
| 31 Island Dr | single_family | 6 | 7 | 5,826 | $9,800,000 | — |
| 165 Hampton Ln | single_family | 6 | 9 | 3,842 | $8,250,000 | — |
| 110 Hampton Ln | single_family | 6 | 7 | 3,550 | $6,900,000 | — |
| 238 Buttonwood Dr | single_family | 6 | 7 | 4,190 | $8,500,000 | — |
| 544 Warren Ln | single_family | 6 | 6 | 1,044 | $8,000,000 | — |
10-year hold projection
IRR-10.1%
Equity multiple-0.72x
Total return (10yr)-$5,845,746
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $20,085,000 | -$244,620 | -$1,463,818 | $15,430,861 | $4,654,139 |
| 2 | $20,687,550 | -$249,245 | -$1,468,848 | $15,250,108 | $5,437,442 |
| 3 | $21,308,177 | -$253,941 | -$1,473,959 | $15,056,942 | $6,251,235 |
| 4 | $21,947,422 | -$258,708 | -$1,479,152 | $14,850,511 | $7,096,911 |
| 5 | $22,605,844 | -$263,548 | -$1,484,427 | $14,629,904 | $7,975,941 |
| 6 | $23,284,020 | -$268,459 | -$1,489,785 | $14,394,148 | $8,889,872 |
| 7 | $23,982,540 | -$273,443 | -$1,495,227 | $14,142,202 | $9,840,339 |
| 8 | $24,702,017 | -$278,499 | -$1,500,753 | $13,872,955 | $10,829,062 |
| 9 | $25,443,077 | -$283,628 | -$1,506,364 | $13,585,218 | $11,857,859 |
| 10 | $26,206,369 | -$288,831 | -$1,512,060 | $13,277,722 | $12,928,647 |
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.