2209 SW 15th St #241 · Deerfield Beach, FL 33442

$264,777

3 bd · 2.0 ba · 1,350 sqft · Condo public records · 82 Days on market

Built 1980 $446/mo HOA · 17% of rent

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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).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a must see and very well-priced, 1st floor, 3BR/2BA (currently being used as a 2/2 with a spacious open den which can easily be converted back in to a bedroom) and an in-unit, FULL SIZE washer/dryer. Best of all the parking space is very convenient and only a few steps from the front door in space #346. The master bedroom is spacious and features a large walk-in closet. The condo has an updated kitchen and baths, and newer plush carpet in the bedrooms. The community is a short drive to amazing beaches, shopping, grocery stores, dining, and major highways. The screened in patio overlooks a lush and tropical garden and also features a large and private storage room. The hot water tank

Key facts

• Updated baths
• Updated kitchen
• In-unit washer dryer

Tags

• IN-UNIT WASHER DRYER
• UPDATED KITCHEN
• UPDATED BATHS
• CONVENIENT PARKING
• SHORT DRIVE TO BEACHES
• SHORT DRIVE TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed (with number limit)
• HOA & community: Meadowridge Association; Quarterly HOA fee; Association amenities: Clubhouse, Pool, Spa/Hot Tub, Shuffleboard court, Picnic area, Library; HOA covers insurance, grounds maintenance, structure maintenance, sewer, trash, water, reserve funds, and roof repairs

Exterior

• Parking: Assigned parking; Asphalt parking area; Guest parking (1 open space total)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Circuit breaker electric panel; Cable available; Electricity connected; Phone connected; Sewer connected
• Home design: Condominium; One level (entry level 1); South-facing; Resale condition
• Construction: CBS construction; Shingle roof; Block foundation; Built as a 2-story building
• Exterior features: Covered patio; Screened patio; Patio; Storage

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Entrance foyer; Walk-in closet(s); Split bedroom layout; Partially furnished; Single-hung metal windows
• Laundry & utility: In-unit laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (0.7% below list).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.2% in Deerfield Beach — 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 75/100 on livability (#250 in FL, #3,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D-, employment 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: Park Ridge Elementary School (math 26% / reading 24%, grade F, #2,030 of 2,144 statewide, top 95%, 577 students, 79% FRL); Lyons Creek Middle School (math 49% / reading 53%, grade C, #237 of 571 statewide, top 43%, 1,757 students, 60% FRL); Deerfield Beach High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 2,251 students, 69% FRL) — zoned schools average 69% FRL vs 51% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 586 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,630/mo this rent would consume 59% of the median local household income ($53k/yr) (locally 2169% 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 $8k 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.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $265k implies a 341% gain — meaningful room to come down on a strong offer.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,890 (6.0% 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. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.25×
• Total profit: $-55,743
• Equity at exit: $39,479

10-year hold

• IRR: -29.0%
• Equity multiple: -0.13×
• Total profit: $-83,664
• Equity at exit: $22,893

Cash invested: $74,138 (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 33442

• Rents YoY: 0.1%
• Active inventory: 586
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$110
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$446
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-88

Break-even live

Break-even rent $2,742

Max offer price $249,173

Occupancy floor 98%

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: $66,194
• Closing costs: $7,943
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2067 SW 15th St Deerfield Beach, FL	2.0	2.0	1150	$2,300	$2.00	20d	2	0.05mi
2265 SW 15th St #165 Deerfield Beach, FL	3.0	2.0	1350	$2,400	$1.78	24d	1	0.07mi
2297 SW 15th St #122 Deerfield Beach, FL	2.0	2.0	1200	$2,200	$1.83	12d	1	0.08mi
1266 S Military Trl Deerfield Beach, FL	1.0–2.0	1.0–2.0	1050	$2,550	$2.43	21d	2	0.12mi
1272 S Military Trl #313 Deerfield Beach, FL	2.0	2.0	900	$2,390	$2.66	21d	1	0.13mi
2355 SW 15th St Deerfield Beach, FL	2.0	2.0	1100	$2,098	$1.91	24d	2	0.15mi
1929 SW 15th St #41 Deerfield Beach, FL	2.0	2.0	1150	$2,400	$2.09	24d	1	0.18mi
1244 S Military Trl #724 Deerfield Beach, FL	2.0	1.5	916	$1,950	$2.13	13d	1	0.21mi
1250 S Military Trl #1612 Deerfield Beach, FL	2.0	1.5	1035	$2,500	$2.42	5d	1	0.21mi
1234 S Military Trl #1811 Deerfield Beach, FL	2.0	2.0	1099	$2,500	$2.27	24d	1	0.21mi
1398 SW 24th Ter Deerfield Beach, FL	3.0	2.0	1865	$5,000	$2.68	24d	1	0.22mi
1230 S Military Trl #2014 Deerfield Beach, FL	2.0	2.0	937	$2,400	$2.56	24d	1	0.26mi
1230 S Military Trl #2014 Deerfield Beach, FL	2.0	2.0	937	$2,400	$2.56	16d	1	0.26mi
2217 Discovery Cir W Deerfield Beach, FL	2.0	2.5	1429	$2,400	$1.68	14d	1	0.36mi
2246 Discovery Cir W Deerfield Beach, FL	2.0	2.5	1300	$2,650	$2.04	24d	1	0.37mi
2149 Discovery Cir W Unit 1 Deerfield Beach, FL	2.0	2.5	1300	$2,850	$2.19	21d	1	0.42mi
2173 Discovery Cir W Deerfield Beach, FL	2.0	2.0	1126	$2,950	$2.62	2d	1	0.45mi
5161 NW 11th Ln Deerfield Beach, FL	3.0	2.0	1486	$2,925	$1.97	24d	1	0.45mi
1100 S Military Trl Deerfield Beach, FL	2.0–3.0	1.0–2.0	1119	$2,828	$2.53	24d	2	0.46mi
1947 Discovery Cir E Deerfield Beach, FL	2.0	2.0	1126	$2,450	$2.18	24d	1	0.47mi
5140 NW 11th Dr Deerfield Beach, FL	3.0	2.0	1324	$3,000	$2.27	13d	1	0.47mi
2776 SW 15th St Deerfield Beach, FL	2.0	2.5	1236	$2,900	$2.35	24d	1	0.50mi
640 Cypress Club Way Unit G Pompano Beach, FL	2.0	2.0	891	$1,950	$2.19	24d	1	0.55mi
2826 SW 12th St Deerfield Beach, FL	2.0	2.5	1236	$2,600	$2.10	3d	1	0.57mi
671 Cypress Lake Blvd Unit D21 Deerfield Beach, FL	3.0	2.0	974	$2,250	$2.31	11d	1	0.57mi
661 Cypress Lake Blvd Unit I20 Deerfield Beach, FL	3.0	2.0	974	$2,250	$2.31	1d	1	0.60mi
661 Cypress Lake Blvd Unit I20 Deerfield Beach, FL	3.0	2.0	974	$2,300	$2.36	24d	1	0.60mi
2903 Waterford Dr N Deerfield Beach, FL	2.0	2.5	1236	$2,600	$2.10	18d	1	0.71mi
551 NW 46th St Deerfield Beach, FL	2.0	2.0	952	$2,485	$2.61	24d	1	0.75mi
1280 NW 49th St Deerfield Beach, FL	3.0	2.0	1575	$2,700	$1.71	24d	1	0.76mi
4503 NW 6th Ave Deerfield Beach, FL	3.0	2.0	1148	$2,850	$2.48	24d	1	0.76mi
4450 Military Trl Unit 22 Pompano Beach, FL	2.0	1.0	940	$1,950	$2.07	24d	1	0.90mi
4905 NE 2nd Way Pompano Beach, FL	2.0	1.0	1100	$2,150	$1.95	24d	1	0.92mi
4325 NW 5th Ave Deerfield Beach, FL	2.0	2.0	953	$2,249	$2.36	10d	1	0.92mi
4313 NW 6th Ave Deerfield Beach, FL	3.0	2.0	1348	$2,850	$2.11	21d	1	0.94mi
4740 NE 2nd Ter Deerfield Beach, FL	3.0	2.0	1000	$3,250	$3.25	3d	1	0.97mi
4740 NE 2nd Ter Deerfield Beach, FL	3.0	2.0	1000	$3,250	$3.25	24d	1	0.97mi
4394 NW 9th Ave Unit 20-1A Deerfield Beach, FL	2.0	2.0	950	$1,700	$1.79	24d	1	0.99mi
4354 NW 9th Ave Unit 12-3D Pompano Beach, FL	2.0	2.0	1040	$2,000	$1.92	24d	1	0.99mi
4314 NW 9th Ave Deerfield Beach, FL	1.0–2.0	1.5–2.0	992	$1,940	$1.95	14d	2	0.99mi

HOA detail condo

• Monthly dues: $446 · $5,352/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $264,777 Active 82 DOM
2. 2026-06-17
   days on market $264,777 Active 81 DOM
3. 2026-06-16
   days on market $264,777 Active 80 DOM
4. 2026-06-15
   days on market $264,777 Active 79 DOM
5. 2026-06-13
   days on market $264,777 Active 77 DOM
6. 2026-06-09
   days on market $264,777 Active 73 DOM
7. 2026-06-08
   days on market $264,777 Active 72 DOM
8. 2026-06-07
   days on market $264,777 Active 71 DOM
9. 2026-06-04
   days on market $264,777 Active 68 DOM
10. 2026-06-03
    days on market $264,777 Active 67 DOM
11. 2026-06-02
    days on market $264,777 Active 66 DOM
12. 2026-06-01
    days on market $264,777 Active 65 DOM
13. 2026-05-31
    days on market $264,777 Active 64 DOM
14. 2026-04-28
    price $264,777
15. 2026-03-28
    listed $269,777 Active
16. 1987-06-09
    soldstatus $60,000
17. 1980-12-01
    soldstatus $70,900

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $2,198 · $183/mo
• Expected delta: +$1,366/yr (+$114/mo · 164.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,562
• − Mortgage interest: −$14,832
• − Property taxes: −$831
• − Insurance: −$3,148
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − HOA: −$5,352
• − Depreciation: −$7,703
• Taxable loss: −$5,354
• Est. tax savings @ 24.0%: +$1,285
• After-tax cash flow: $225/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 — Deerfield Beach

• Score: 75/100
• State rank: #250
• US rank: #3970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield Beach, FL
• County: Broward County · 1,963,430 people
• City population: 61,449
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 31,296
• Household income: $53,254
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 2169.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 23% Two or more races 19% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 3%
• Common ancestry: Estonian 7% Romanian 4% Hispanic 3%
• Foreign-born: 34% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 20% Other Indo-European 13% French/Haitian/Cajun 4%

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: ▼ -280.44%
• Current HPI: 323.0166
• Rent YoY: ▲ 0.10%
• 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

+273.5% since first listed

4 events — show timeline

• 2026-04-28 Price Changed $264,777 Beaches MLS
• 2026-03-28 Listed $269,777 Beaches MLS
• 1987-06-09 Sold (Public Records) $60,000 Public Records
• 1980-12-01 Sold (Public Records) $70,900 Public Records

Property tax history

+0.5%/yr

Latest (2025): $831 · -28.3% YoY. Source: county tax records.