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Condominium
$580,000$527 / sqft
240 Galen Dr # 110, Key Biscayne FL 33149
Listed
2
Bedrooms
2
Bathrooms
1,100 sqft
Interior
1967
Year built
None
HOA
Condominium
Type
About this home
Step into easy island life in this bright 2-bed/2-bath condo on the ground floor of a boutique Key Biscayne building, moments from the beach. White porcelain floors flow out to a covered terrace enclosed by operable impact windows — a breezy spot to unwind. Generous closets plus two extra storage spaces, one inside the unit and one on the balcony, keep everything in its place. Parking sits right out front, with direct, stair-free access — no elevator needed. Supermarkets, pharmacies, shops and restaurants are all an easy walk away, along with the building pool and beach access at the end of the street. Move-in ready, with kitchen and baths left to refresh — and the current owner open to staying on as tenant, ideal for investors.
Features
- First Floor Entry
- Closet Cabinetry
- Storage
- East Of Us1
- Other
- Garden View
Leasing
- Minimum lease
- 90 days
- Leases permitted per year
- 4
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
Location
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals in Key Biscayne, from 80 active listings; the middle half ask $6,500–$10,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.