5203 NE 24th Ter Unit B-105 · Fort Lauderdale, FL 33308

$145,000

1 bd · 1.0 ba · 650 sqft · Condo public records · 247 Days on market

Built 1965 $500/mo HOA · 15% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Nestled in this quiet, Old Florida-style community of charming low-rise buildings, is this 1-bedroom, 1-bath condo surrounded by so many different events and just a short drive or walk to the sun-drenched beaches of Lauderdale-by-the-Sea. Ready for your personal touch, this inviting residence features newer appliances and a warm, welcoming vibe. At Maybury Mansions, affordable maintenance covers cable, and access to top-notch amenities: a heated pool, fitness center, social room, BBQ area, and more. Whether you're starting out or seeking a sunny winter retreat, this easy-care condo offers the perfect blend of charm, convenience, and coastal living. In the heart of Fort Lauderdale this gem o

Key facts

• Fitness center
• Newer appliances
• Bbq area

Tags

• SHORT DRIVE TO BEACHES
• NEWER APPLIANCES
• HEATED POOL
• FITNESS CENTER
• SOCIAL ROOM
• BBQ AREA

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly association fee includes insurance and trash; Association amenities: laundry, pool, shuffleboard court, trash chute; Monthly HOA fee

Exterior

• Parking: Assigned parking
• Utilities: Utilities: none specified
• Home design: Condominium; 3-story building; Resale property; Unit faces east
• Construction: CBS construction
• Exterior features: Not waterfront; No waterfront features noted; Pool; Shuffleboard court; Trash chute

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: Building laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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: Mcnab Elementary School (math 51% / reading 63%, grade C+, #781 of 2,144 statewide, top 38%, 614 students, 56% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL).
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 43% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $73k; list at $145k implies a 99% gain — meaningful room to come down on a strong offer.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.30% ✓
• Cap rate: 15.21%
• Cash-on-cash: 31.83%
• DSCR: 2.42
• GRM: 3.6

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: 27.8%
• Equity multiple: 2.17×
• Total profit: $47,615
• Equity at exit: $21,620

10-year hold

• IRR: 35.9%
• Equity multiple: 4.45×
• Total profit: $140,204
• Equity at exit: $12,537

Cash invested: $40,600 (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 33308

• Rents YoY: 3.6%
• Active inventory: 739
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $3,331 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$233 /mo · $2,802/yr
• Insurance: −$60
• HOA: −$500
• Vacancy / Maint / Mgmt: −$699
• Net cashflow: $1,077

Break-even live

Break-even rent $1,967

Max offer price $145,000

Occupancy floor 63%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	1.14mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.42mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.42mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: cablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 247 DOM
2. 2026-06-17
   days on market $145,000 Active 246 DOM
3. 2026-06-16
   days on market $145,000 Active 245 DOM
4. 2026-06-15
   days on market $145,000 Active 244 DOM
5. 2026-06-13
   days on market $145,000 Active 242 DOM
6. 2026-06-09
   days on market $145,000 Active 238 DOM
7. 2026-06-07
   days on market $145,000 Active 236 DOM
8. 2026-06-04
   days on market $145,000 Active 233 DOM
9. 2026-06-03
   days on market $145,000 Active 232 DOM
10. 2026-06-02
    days on market $145,000 Active 231 DOM
11. 2026-06-01
    days on market $145,000 Active 230 DOM
12. 2026-05-31
    days on market $145,000 Active 229 DOM
13. 2025-10-30
    price $145,000
14. 2025-10-14
    listed $150,000 Active
15. 2013-12-26
    soldstatus $73,000
16. 1965-08-01
    soldstatus $10,000

ⓘ 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: $2,802 · $233/mo
• Projected year-2 tax: $2,802 · $233/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: $39,969
• − Mortgage interest: −$8,122
• − Property taxes: −$2,802
• − Insurance: −$725
• − Repairs & maintenance: −$3,198
• − Management: −$3,198
• − HOA: −$6,000
• − Depreciation: −$4,218
• Taxable income: $11,707
• Est. tax owed @ 24.0%: −$2,810
• After-tax cash flow: $10,115/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

+1350.0% since first listed

4 events — show timeline

• 2025-10-30 Price Changed $145,000 Beaches MLS
• 2025-10-14 Listed $150,000 Beaches MLS
• 2013-12-26 Sold (Public Records) $73,000 Public Records
• 1965-08-01 Sold (Public Records) $10,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $2,802 · +8.7% YoY. Source: county tax records.