6600 NE 22nd Way #2309 · Fort Lauderdale, FL 33308

$240,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 43 Days on market

Built 1972 $737/mo HOA · 21% of rent

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Why this score? — see what drove the B- 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).

• Cash flow +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

"WELCOME HOME" THIS UNIT HAS BEEN EXQUISITELY UPDATED!! BEST UNIT IN THE COMPLEX!!! BRAND NEW KITCHEN CABINETS, SS APPLIANCES, QUARTZ COUNTERTOPS & MORE. GORGEOUS BATHROOMS! HIGH IMPACT WINDOWS. WATER, CABLE TV & INTERNET ARE INCLUDED IN THE MAINTENANCE FEE. SOME AMAZING COMPLEX AMENITIES INCLUDE: HEATED POOL, SAUNA, EXERCISE ROOM, BILLIARD RM, BBQ AREA, CAR WASH AREA. GREAT LOCATION AND PROXIMITY TO US-1 & I-95. WALKING DISTANCE TO: PUBLIX, CVS, CHASE BANK, DUNKIN DONUTS, DOTTIE MANCINI PARK, AREA SCHOOLS & IMPERIAL POINT HOSPITAL. EXCELLENT RESERVES & THE 50YR RE-CERTIFICATION WORK HAS NOW BEEN COMPLETED. BUILDING'S NEW ROOF ON 2023. NO PETS, ONE AS

Key facts

• Quartz countertops
• Sauna
• New kitchen cabinets

Tags

• NEW KITCHEN CABINETS
• SS APPLIANCES
• QUARTZ COUNTERTOPS
• HIGH IMPACT WINDOWS
• HEATED POOL
• SAUNA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $3,595/mo this rent would consume 46% of the median local household income ($94k/yr) (locally 912% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $170k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.50% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,626
• Equity at exit: $35,785

10-year hold

• IRR: 10.0%
• Equity multiple: 1.81×
• Total profit: $54,386
• Equity at exit: $20,751

Cash invested: $67,200 (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 33308

• Rents YoY: 3.6%
• Active inventory: 746
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,595 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$202 /mo · $2,427/yr
• Insurance: −$100
• HOA: −$737
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $542

Break-even live

Break-even rent $2,909

Max offer price $240,000

Occupancy floor 80%

Sensitivity live

Price	-10% $678	-5% $610	+0% $542	+5% $474	+10% $406
Rent	-10% $258	-5% $400	+0% $542	+5% $684	+10% $826
Rate	-1.0pp $663	-0.5pp $603	base $542	+0.5pp $480	+1.0pp $417

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	0d	15	0.05mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,774	$2.54	0d	16	0.15mi
6299 Bay Club Dr #4 Fort Lauderdale, FL	2.0	2.0	1200	$4,900	$4.08	25d	1	0.28mi
2321 SE 15th St Unit 2321 Pompano Beach, FL	3.0	2.0	1313	$6,100	$4.65	25d	1	0.40mi
2169 Imperial Point Dr Fort Lauderdale, FL	2.0	2.0	1300	$4,200	$3.23	25d	1	0.48mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1458	$3,700	$2.54	6d	1	0.53mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1396	$3,950	$2.83	25d	2	0.54mi
2548 SE 14th St Pompano Beach, FL	2.0	2.0	1400	$12,000	$8.57	2d	1	0.58mi
2548 SE 14th St Pompano Beach, FL	2.0	2.0	1400	$12,000	$8.57	25d	1	0.58mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	857	$3,411	$3.98	0d	43	0.66mi
1001 SE 5th Ave Pompano Beach, FL	3.0	2.0	1492	$4,500	$3.02	25d	1	0.66mi
160 SE 12th Ct Pompano Beach, FL	3.0	2.0	1372	$12,000	$8.75	23d	1	0.75mi
160 SE 12th St Pompano Beach, FL	2.0	2.0	950	$5,390	$5.67	25d	1	0.78mi
801 S Federal Hwy #21 Pompano Beach, FL	2.0	2.0	1070	$3,100	$2.90	4d	1	0.84mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	12d	1	0.86mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	5d	1	0.86mi
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	25d	1	0.87mi
1100 SE 5th Ct #57 Pompano Beach, FL	2.0	2.0	1168	$3,400	$2.91	25d	1	0.94mi
1541 S Ocean Blvd Pompano Beach, FL	1.0	1.5	850	$3,575	$4.21	25d	2	0.99mi
1501 S Ocean Blvd #307 Pompano Beach, FL	2.0	2.0	1000	$3,750	$3.75	25d	1	1.00mi
777 S Federal Hwy Pompano Beach, FL	2.0	2.0	1166	$2,825	$2.42	4d	3	1.01mi
777 S Federal Hwy Pompano Beach, FL	1.0–2.0	1.0–2.0	947	$3,500	$3.69	25d	6	1.01mi
777 S Federal Hwy Pompano Beach, FL	1.0–2.0	1.0–2.0	947	$3,200	$3.38	16d	6	1.01mi
1101 SW 1st Ave Pompano Beach, FL	3.0	1.5	1206	$3,400	$2.82	25d	1	1.02mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,750	$3.22	21d	3	1.03mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,800	$3.26	8d	2	1.03mi
1900 S Ocean Blvd Unit 1E Pompano Beach, FL	2.0	2.0	1210	$4,500	$3.72	25d	1	1.03mi
1800 S Ocean Blvd Pompano Beach, FL	2.0	2.0–2.5	1731	$5,300	$3.06	8d	4	1.04mi
1800 S Ocean Blvd Pompano Beach, FL	2.0–3.0	2.0–2.5	1731	$4,000	$2.31	4d	5	1.04mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	21d	3	1.05mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1000	$6,500	$6.50	3d	3	1.05mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	18d	4	1.05mi
1461 S Ocean Blvd Pompano Beach, FL	2.0	2.0	920	$3,525	$3.83	6d	2	1.05mi
1750 S Ocean Blvd Unit 509E Pompano Beach, FL	2.0	2.0	945	$4,200	$4.44	25d	1	1.05mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	23d	1	1.06mi
5400 N Ocean Blvd Lauderdale by the Sea, FL	2.0–3.0	2.5	1631	$3,800	$2.33	5d	2	1.06mi
1620 S Ocean Blvd Unit 5M Pompano Beach, FL	1.0	2.0	1116	$5,000	$4.48	25d	1	1.07mi
511 SE 5th St Pompano Beach, FL	2.0	2.0	1276	$4,200	$3.29	25d	1	1.07mi
511 SE 5th St Pompano Beach, FL	2.0	2.0	1276	$4,200	$3.29	23d	1	1.07mi
6000 N Ocean Blvd Lauderdale by the Sea, FL	2.0	2.0	904	$3,350	$3.71	0d	2	1.08mi

HOA detail condo

• Monthly dues: $737 · $8,844/yr
• Likely covers: waterinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-23
   status Pending
2. 2026-02-18
   listed $240,000 Active
3. 2025-03-18
   soldstatus $170,000
4. 2020-04-02
   soldstatus $146,000
5. 2000-06-08
   soldstatus $75,900
6. 1999-02-17
   soldstatus $68,000
7. 1996-12-19
   soldstatus $53,000
8. 1994-03-14
   soldstatus $50,000
9. 1994-03-14
   soldstatus $50,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,427 · $202/mo
• Projected year-2 tax: $2,427 · $202/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $43,138
• − Mortgage interest: −$13,444
• − Property taxes: −$2,427
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,451
• − Management: −$3,451
• − HOA: −$8,844
• − Depreciation: −$6,982
• Taxable income: $3,339
• Est. tax owed @ 24.0%: −$801
• After-tax cash flow: $5,703/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): 27,935
• Household income: $93,879
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 912.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 14% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 14% Other Indo-European 5% Russian/Polish/Slavic 2%

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: ▼ -417.95%
• Current HPI: 325.3902
• Rent YoY: ▲ 3.63%
• 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

+380.0% since first listed

9 events — show timeline

• 2026-04-23 Pending — Beaches MLS
• 2026-02-18 Listed $240,000 Beaches MLS
• 2025-03-18 Sold (Public Records) $170,000 Public Records
• 2020-04-02 Sold (Public Records) $146,000 Public Records
• 2000-06-08 Sold (Public Records) $75,900 Public Records
• 1999-02-17 Sold (Public Records) $68,000 Public Records
• 1996-12-19 Sold (Public Records) $53,000 Public Records
• 1994-03-14 Sold (Public Records) $50,000 Public Records
• 1994-03-14 Sold (Public Records) $50,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,427 · +6.8% YoY. Source: county tax records.