3932 SW 12th Pl · Fort Lauderdale, FL 33312

$1,545,000

16 bd · 9.6 ba · 6,012 sqft · MultiFamily · 176 Days on market

Built 1956

---

Why this score? — see what drove the C 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 8 units. estimate disagrees with records

Listing remarks

Discover a prime cash-flowing investment at 3932 SW 12th Pl, Fort Lauderdale, presented by Fausto Commercial. This renovated 8-unit property features eight 1-bedroom units, each nicely updated with modern finishes and equipped with impact-resistant doors and windows, plus all-new electric meters. The building spans approximately 4,152 sq ft on a 10,631 sqft lot, offering solid income and strong tenant appeal. The property is currently generating a net operating income of $114,800, reflecting a 7.43% cap rate, with easy potential to exceed 7.5% through modest rent increases or operational improvements. Located just minutes from Downtown Fort Lauderdale, Las Olas, the airport, beaches, majo

Key facts

• Renovated property
• Turn-key property
• Strong rental income

Tags

• RENOVATED PROPERTY
• IMPACT-RESISTANT DOORS
• IMPACT-RESISTANT WINDOWS
• TURN-KEY PROPERTY
• STRONG RENTAL INCOME
• MINUTES FROM LAS OLAS

Property features AI

Finance

• Other:
• Financial info: Total actual rent reported: $168,000 per year; Operating expenses reported: $48,060 per year; Typical unit rent shown: $3,400 per month per unit; Property contains multiple leased units
• HOA & community:

Exterior

• Parking: Approximately 10 parking spaces; Assigned parking spaces for units
• Security: High-impact doors
• Utilities: Cable available; Public sewer
• Home design: Single-story building; Block construction; Tar/gravel roof; Zoned RMM-25
• Construction: Block construction; Tar/gravel roof; Effective year built
• Exterior features: Security / high-impact doors; Less than quarter-acre lot

Interior

• Kitchen:
• Bedrooms: Multiple 2-bedroom units (see Unit breakdown)
• Flooring: Tile flooring
• Bathrooms: Units with 1 full bathroom
• Heating & cooling: Wall/window air conditioning units
• Interior features: Impact glass windows; Tile flooring
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.2-bath units multifamily listed at $1.54M.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.54M).
• Recommended offer: $1.36M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 420 active listings in the ZIP; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $17,460/mo this rent would consume 276% of the median local household income ($76k/yr) (locally 1903% 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 $11k of loan paydown is wiped out by about $46k 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 176 days — a 12% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 96462% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,359,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.3% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-90,576
• Equity at exit: $230,365

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $49,213
• Equity at exit: $133,583

Cash invested: $432,600 (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 33312

• Rents YoY: 1.3%
• Active inventory: 420
• Price-to-rent: 59.0×

Monthly cashflow live

• Estimated rent: $17,460 high
• Mortgage (P&I): −$8,102
• Tax est. 1.5%: −$1,931 /mo · $23,175/yr
• Insurance: −$644
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,667
• Net cashflow: $2,964

Break-even live

Break-even rent $13,708

Max offer price $1,545,000

Occupancy floor 78%

Sensitivity live

Price	-10% $4,032	-5% $3,498	+0% $2,964	+5% $2,430	+10% $1,896
Rent	-10% $1,585	-5% $2,275	+0% $2,964	+5% $3,654	+10% $4,344
Rate	-1.0pp $3,742	-0.5pp $3,357	base $2,964	+0.5pp $2,564	+1.0pp $2,157

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	2	1.2	$17,456
Total (8 units)			$17,460

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: $386,250
• Closing costs: $46,350
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-03
   status $1,545,000 Pending 176 DOM
2. 2026-06-02
   days on market $1,545,000 Active 176 DOM
3. 2026-06-01
   days on market $1,545,000 Active 175 DOM
4. 2026-05-31
   days on market $1,545,000 Active 174 DOM
5. 2026-05-08
   listed $1,600
6. 2026-05-08
   historical $1,600
7. 2026-02-23
   listed $1,600
8. 2026-01-27
   price $1,545,000
9. 2025-12-08
   listed $1,595,000 Active
10. 2025-11-08
    historical
11. 2025-08-13
    price $1,595,000
12. 2025-08-05
    status Active
13. 2025-07-27
    historical Active Under Contract
14. 2025-07-15
    listed $1,650,000 Active

ⓘ 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 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $209,520
• − Mortgage interest: −$86,544
• − Property taxes: −$23,175
• − Insurance: −$9,550
• − Repairs & maintenance: −$16,762
• − Management: −$16,762
• − Depreciation: −$44,945
• Taxable income: $11,783
• Est. tax owed @ 24.0%: −$2,828
• After-tax cash flow: $32,743/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): 52,798
• Household income: $75,952
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1903.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 34% Hispanic / Latino 32% Black 29% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 6% Salvadoran 1%
• Common ancestry: Hispanic 6% Romanian 3% Italian 1%
• Foreign-born: 33% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 29% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -323.99%
• Current HPI: 382.6298
• Rent YoY: ▲ 1.30%
• 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

-99.9% since first listed

10 events — show timeline

• 2026-05-08 Listed for Rent $1,600 RMLSFL
• 2026-05-08 Rental Removed $1,600 GFLMLS
• 2026-02-23 Listed for Rent $1,600 GFLMLS
• 2026-01-27 Price Changed $1,545,000 MARMLS
• 2025-12-08 Listed $1,595,000 MARMLS
• 2025-11-08 Listing Removed — MARMLS
• 2025-08-13 Price Changed $1,595,000 MARMLS
• 2025-08-05 Relisted — MARMLS
• 2025-07-27 Contingent — MARMLS
• 2025-07-15 Listed $1,650,000 MARMLS