400 SE 22nd St #1 · Fort Lauderdale, FL 33316

$655,000

3 bd · 2.5 ba · 1,850 sqft · Townhouse

Built 2025 Est $709k · 8% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +10.9/15.0
• Cash flow +7.4/30.0
• Appreciation +7.1/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0

Listing remarks

3 bedroom, 2.5 bath NEW CONSTRUCTION townhome with 2-car garage in boutique four-unit development in east Fort Lauderdale. BRAND NEW, never-lived-in, this townhome is totally turnkey and ready to occupy for an end-user. Also PERFECT for an investor to Airbnb or lease out annually. With modern design and open floorplan, each unit features high-end interiors, wood and tile floors, stainless appliances, glass shower enclosures, full size washer/dryer in laundry room. Ideally situated in east Fort Lauderdale (less than 10minutes to the beach, 5 to downtown or FLL International Airport).

Key facts

• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $655k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $509k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $465k (29.1% below list).
• Recommended offer: $465k (29.1% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.2% in Fort Lauderdale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#78 in FL, #1,293 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: cost of living D-.
• Broward (suburban): math 42% / reading 53% proficiency, ranked #46 of 73 in FL (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Croissant Park Elementary School (math 36% / reading 37%, grade F, #1,656 of 2,144 statewide, top 78%, 692 students, 83% FRL); New River Middle School (math 36% / reading 44%, grade F, #368 of 571 statewide, top 65%, 1,587 students, 70% FRL); Stranahan High School (math 18% / reading 36%, grade F, #478 of 667 statewide, top 73%, 1,438 students, 77% FRL) — zoned schools average 77% FRL vs 51% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 406 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $4,647/mo this rent would consume 58% of the median local household income ($97k/yr) (locally 770% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $32k of equity ($5k loan paydown + $27k appreciation (4.2% local appreciation)).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $464,674 (29.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.71% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.60%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $708,550
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
723 SE 16th Ct	0.51mi	3/3.5	1,762 (-5%)	3mo	$675,000	$383	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.15% appreciation · 4.54% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.34×
• Total profit: $62,847
• Equity at exit: $337,759

10-year hold

• IRR: 8.7%
• Equity multiple: 2.51×
• Total profit: $277,523
• Equity at exit: $557,000

Cash invested: $183,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33316

• Home prices YoY: 1.3%
• Rents YoY: 4.5%
• Active inventory: 406
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $4,647 high
• Mortgage (P&I): −$3,435
• Tax est. 1.5%: −$819 /mo · $9,825/yr
• Insurance: −$273
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $-1,008

Break-even live

Break-even rent $5,922

Max offer price $509,188

Occupancy floor —

Sensitivity live

Price	-10% $-555	-5% $-781	+0% $-1,008	+5% $-1,234	+10% $-1,460
Rent	-10% $-1,375	-5% $-1,191	+0% $-1,008	+5% $-824	+10% $-641
Rate	-1.0pp $-678	-0.5pp $-841	base $-1,008	+0.5pp $-1,177	+1.0pp $-1,350

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $163,750
• Closing costs: $19,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2100 Miami Rd Unit 401 Fort Lauderdale, FL	3.0	3.0	1707	$5,100	$2.99	7d	1	0.23mi
2100 Miami Rd Unit 401 Fort Lauderdale, FL	3.0	3.0	1707	$4,980	$2.92	19d	1	0.23mi
2100 Miami Rd Unit 204 Fort Lauderdale, FL	3.0	3.0	1780	$4,895	$2.75	26d	1	0.23mi
2100 Miami Rd Unit 204 Fort Lauderdale, FL	3.0	3.0	1780	$4,950	$2.78	19d	1	0.23mi
2100 Miami Rd Unit 302 Fort Lauderdale, FL	3.0	3.0	1724	$4,980	$2.89	7d	1	0.23mi
412 SE 17th St Fort Lauderdale, FL	4.0	2.0	1722	$3,250	$1.89	26d	1	0.41mi
1812 Miami Rd Unit 1369665P Fort Lauderdale, FL	3.0	3.0	2454	$10,040	$4.09	23d	1	0.41mi
410 SE 16th Ct Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,831	$2.41	0d	1	0.47mi
713 SE 16th St #2 Fort Lauderdale, FL	3.0	3.5	1942	$4,000	$2.06	26d	1	0.60mi
316 SW 16th St Unit B Fort Lauderdale, FL	3.0	2.5	2124	$4,250	$2.00	12d	1	0.72mi
316 SW 16th St Unit B Fort Lauderdale, FL	3.0	2.5	2124	$3,650	$1.72	6d	1	0.72mi
400 SE 14th St Unit A Fort Lauderdale, FL	3.0	2.0	1826	$2,580	$1.41	15d	1	0.73mi
325 SW 16th St Fort Lauderdale, FL	4.0	4.0	2454	$6,900	$2.81	26d	1	0.77mi
1508 SW 4th Ave #1506 Fort Lauderdale, FL	3.0	3.0	2556	$4,500	$1.76	9d	1	0.79mi
1508 SW 4th Ave Fort Lauderdale, FL	3.0	3.5	2583	$4,500	$1.74	16d	1	0.79mi
1508 SW 4th Ave Fort Lauderdale, FL	3.0	3.5	2583	$4,500	$1.74	15d	1	0.79mi
407 SE 13th St Fort Lauderdale, FL	3.0	3.5	2048	$4,000	$1.95	26d	1	0.82mi
1430 SW 4th Ave Unit 1430 Fort Lauderdale, FL	4.0	3.5	2120	$5,000	$2.36	26d	1	0.85mi
1490 SE 15th St #104 Fort Lauderdale, FL	2.0	2.0	1459	$4,250	$2.91	19d	1	0.85mi
324 SW 14th Ct Unit 1 Fort Lauderdale, FL	4.0	3.5	1910	$4,500	$2.36	22d	1	0.85mi
619 SW 17th St Fort Lauderdale, FL	3.0	2.5	2538	$5,500	$2.17	26d	1	0.85mi
619 SW 17th St Unit 618 Fort Lauderdale, FL	3.0	2.0	2538	$5,500	$2.17	26d	1	0.85mi
1500 SW 6th Ave Unit 1500 Fort Lauderdale, FL	2.0	1.5	1811	$2,800	$1.55	7d	1	0.90mi
820 SE 12th Ct Unit 1 Fort Lauderdale, FL	2.0	1.0	2094	$2,500	$1.19	26d	1	0.90mi
824 SE 12th Ct Unit 840 Fort Lauderdale, FL	3.0	2.5	1852	$5,000	$2.70	22d	1	0.90mi
824 SE 12th Ct Unit 852 Fort Lauderdale, FL	2.0	1.5	2000	$5,000	$2.50	22d	1	0.90mi
824 SE 12th Ct Unit 850 Fort Lauderdale, FL	4.0	2.5	2050	$8,250	$4.02	26d	1	0.90mi
824 SE 12th Ct Unit 828 Fort Lauderdale, FL	4.0	2.5	2050	$6,500	$3.17	22d	1	0.90mi
824 SE 12th Ct Unit 854 Fort Lauderdale, FL	3.0	2.5	2000	$6,500	$3.25	22d	1	0.90mi
817 SE 12th Ct #1 Fort Lauderdale, FL	2.0	2.5	1328	$2,500	$1.88	26d	1	0.92mi
607 SW 15th St Fort Lauderdale, FL	3.0	2.0	1351	$6,500	$4.81	26d	1	0.95mi
1836 SW 9th Ave Fort Lauderdale, FL	3.0	3.0	1581	$4,500	$2.85	26d	1	0.95mi
820 SE 12th St #1 Fort Lauderdale, FL	2.0	1.0	2094	$2,300	$1.10	6d	1	0.96mi
820 SE 12th St #1 Fort Lauderdale, FL	2.0	1.0	2094	$2,500	$1.19	26d	1	0.96mi
800 SE 11th Ct Fort Lauderdale, FL	4.0	2.5	1787	$10,000	$5.60	14d	1	0.98mi
843 SW 29th St Unit 843 Fort Lauderdale, FL	4.0	3.5	2447	$5,250	$2.15	3d	1	0.98mi
1436 SE 13th St Fort Lauderdale, FL	4.0	3.5	1725	$20,000	$11.59	26d	1	0.98mi
1516 SW 8th Ave Unit 1475643P Fort Lauderdale, FL	3.0	2.0	1302	$7,742	$5.95	0d	1	0.99mi
508 SW 13th St Fort Lauderdale, FL	3.0	2.0	1680	$4,500	$2.68	26d	1	1.02mi
1617 SE 15th St #605 Fort Lauderdale, FL	2.0	2.0	1240	$2,400	$1.94	26d	1	1.04mi

Listing history 2 events

1. 2026-02-20
   historical
2. 2024-02-15
   listed $655,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,761
• − Mortgage interest: −$36,690
• − Property taxes: −$9,825
• − Insurance: −$5,100
• − Repairs & maintenance: −$4,461
• − Management: −$4,461
• − Depreciation: −$19,055
• Taxable loss: −$23,830
• Est. tax savings @ 24.0%: +$5,719
• After-tax cash flow: $-6,373/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Broward
• NCES district ID: 1200180
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $52,139
• Composite: 40.88/100
• National rank: #3621
• State rank: #46 of 73 in FL

Livability — Fort Lauderdale

• Score: 82/100
• State rank: #78
• US rank: #1293

Category grades

Amenities A+ Commute C+ Cost of living D- Crime A+ Employment B Housing A- Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Lauderdale, FL
• County: Broward County · 1,963,430 people
• City population: 235,769
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 12,437
• Household income: $96,641
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 770.0

Population outlook (Broward County) Hauer SSP2

• Today (2025): 2,207,033 people
• By 2030: 2,360,704 · +7.0%
• By 2040: 2,661,208 · +20.6%
• By 2050: 2,946,698 · +33.5%
• By 2075: 3,602,273 · +63.2%
• By 2100: 3,970,984 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 8% Black 7% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 22% · Canada, Jamaica, Dominican Republic
• Languages at home: 80% English-only · Spanish 13% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Broward

• 2024 margin: D (+17.0) · D 58.0% · R 41.0%
• 2008→2024 swing: -17.8pp toward R · 2008: 34.7pp · 2024: 17.0pp
• All cycles: 2024: D+17.0 2020: D+29.8 2016: D+35.0 2012: D+34.9 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.15%
• Current HPI: 319.5598
• Rent YoY: ▲ 4.54%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

2 events — show timeline

• 2026-02-20 Listing Removed — Beaches MLS
• 2024-02-15 Listed $655,000 Beaches MLS