$10,800 /mo

50 Ocean Lane DriveKey Biscayne, FL 33149

Top-Floor Penthouse Residence in Key Biscayne

3 bd
2 ba
1,730 sqft

Condo

Nancy Batchelor

Compass

Call Text Email

About this home

Sited on the top floor of 50 Ocean Lane Drive, this 1,730 sq. ft. penthouse residence delivers a spacious, light-filled retreat in the heart of island living on Key Biscayne. The functional 3-bedroom, 2-bathroom layout features an open-concept living and dining area with impact/storm shutters, ample interior storage, and glass sliding doors that open out to a private balcony framing island breezes and treetop views. Residents of this boutique building enjoy amenities including a private association swimming pool, assigned covered parking, elevator access, and low-density privacy. Located just steps from pristine beaches, Crandon Park, Bill Baggs Cape Florida State Park, local dining corridors, and boutique shopping, offering a peaceful coastal lifestyle just minutes across the causeway from Downtown Miami and Brickell.

Pool

Rental terms

Pets: Allowed

Facts & features

Property type: Condo
Beds: 3
Baths: 2
Half baths: 1
Living area: 1,730 sqft

Rent & budget

Fits a household income of about

$432,000a year

By the usual guideline, rent takes no more than 30% of income before tax. Add yours to see how this rent fits.

Household income, yearly

Rent or buy

This rent would cover the monthly payment on a home around $1,606,000, with $321,200 down and taxes and insurance included.

How long you'd stay

Over 7 years, buying a $1,606,000 home would cost about $142,000 less than renting. Buying costs less once you stay 5 years or more.

Estimated total cost over 7 years

Renting: $993,000
Buying, after selling: $852,000

Home price

Down payment

Buying counts the cash you put in, the loan payments, taxes, insurance and upkeep, less what you'd keep from selling after paying off the loan. Assumes a 30-year loan at 7.28%, home values rising 3% and rents 3% a year, 1% of the home's value a year for upkeep, 3% to buy and 6% to sell, and that cash put into buying would otherwise earn 4% a year.

Guidelines only. The landlord decides what it takes to qualify. Consult a real estate professional and/or a financial advisor before making decisions.