2555 NE 11th St #609 · Fort Lauderdale, FL 33304

$299,000

2 bd · 1.0 ba · 1,270 sqft · Condo public records · 100 Days on market

Built 1981 $1047/mo HOA · 26% 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 +13.4/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• DSCR +4.0/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic location and rarely available! Welcome to this beautifully updated corner unit with breathtaking Intracoastal views and an abundance of natural light from every room. This 2-bedroom, 1-bath condo features a modern kitchen with stainless steel appliances, an updated bathroom, elegant neutral flooring, freshly painted, shades/blinds on all windows, and spacious closets for ample storage. This pet-friendly unit offers the ultimate convenience, just steps from the beach, Publix, Galleria Mall, George English Park, and Birch State Park, providing endless options for dining, shopping, and outdoor activities. The unit includes one assigned parking space and is available partially furnish

Key facts

• Spacious closets
• Intracoastal views
• Modern kitchen

Tags

• INTRACOASTAL VIEWS
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOM
• SPACIOUS CLOSETS
• ASSIGNED PARKING SPACE

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions and limits
• HOA & community: Horizon House Condominium Association; Monthly association fee includes cable TV, insurance, internet, grounds and structure maintenance, sewer, trash, water, common areas, elevator, and pool service; Association amenities: car wash area, elevators, laundry, on-site management, parking, manager on site, trash chute, community room, heated pool, internet included, lobby, sidewalks

Exterior

• Parking: Assigned parking (1 space)
• Security: Closed-circuit cameras; Entry phone/intercom
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water connected
• Home design: Condominium; One level; Northeast facing; Horizon House, 10-story building
• Construction: CBS construction
• Exterior features: Flat roof; City street frontage; Not waterfront; East of US-1

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Refrigerator
• Bedrooms: 2 bedrooms (main level)
• Flooring: Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Built-in features; Entrance foyer; Stacked bedroom layout; Partially furnished; Blinds and storm windows
• Laundry & utility: Electric water heater; Laundry in building

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $4 ($49/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $272k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: Bayview Elementary School (math 79% / reading 85%, grade A+, #79 of 2,144 statewide, top 4%, 552 students, 23% FRL); Sunrise Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,242 students, 64% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL) — zoned schools at 48% FRL track the district average.
• Zoned-school proficiency averages 62% at this address vs 48% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Broward average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.8%/yr); 629 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $4,067/mo this rent would consume 57% of the median local household income ($85k/yr) (locally 1534% 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 $9k 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 100 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 11183% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $272,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.36% ✓
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-48,448
• Equity at exit: $44,582

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-42,919
• Equity at exit: $25,852

Cash invested: $83,720 (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 33304

• Rents YoY: 2.8%
• Active inventory: 629
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $4,067 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$469 /mo · $5,629/yr
• Insurance: −$125
• HOA: −$1,047
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $4

Break-even live

Break-even rent $4,062

Max offer price $299,000

Occupancy floor 95%

Sensitivity live

Price	-10% $173	-5% $89	+0% $4	+5% $-81	+10% $-165
Rent	-10% $-317	-5% $-157	+0% $4	+5% $165	+10% $325
Rate	-1.0pp $155	-0.5pp $80	base $4	+0.5pp $-73	+1.0pp $-152

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2555 NE 11th St #502 Fort Lauderdale, FL	2.0	1.0	970	$2,200	$2.27	18d	1	0.03mi
2555 NE 11th St #9 Fort Lauderdale, FL	2.0	1.0	970	$2,400	$2.47	18d	1	0.03mi
2555 NE 11th St Fort Lauderdale, FL	1.0–2.0	1.0	840	$2,200	$2.62	25d	2	0.04mi
2601 NE 11th Ct Fort Lauderdale, FL	3.0	3.0	1504	$10,500	$6.98	25d	1	0.09mi
2601 NE 11th Ct Fort Lauderdale, FL	3.0	3.0	1504	$10,500	$6.98	0d	1	0.09mi
1040 Seminole Dr Unit 551 Fort Lauderdale, FL	3.0	3.0	1836	$6,233	$3.39	25d	1	0.11mi
1040 Seminole Dr Unit 1408 Fort Lauderdale, FL	3.0	2.0	1583	$5,954	$3.76	25d	1	0.11mi
2625 NE 12th St Fort Lauderdale, FL	3.0	2.0	1826	$9,000	$4.93	25d	1	0.13mi
2625 NE 12th St Fort Lauderdale, FL	3.0	2.0	1826	$9,000	$4.93	6d	1	0.13mi
1030 Seminole Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1442	$6,936	$4.81	3d	35	0.15mi
1040 Seminole Dr Unit 1406 Fort Lauderdale, FL	1.0	1.0	917	$3,143	$3.43	25d	1	0.16mi
2727 Yacht Club Blvd Unit 2A Fort Lauderdale, FL	2.0	2.0	1030	$2,800	$2.72	20d	1	0.17mi
936 Intracoastal Dr Unit 21C Fort Lauderdale, FL	2.0	2.0	1500	$4,590	$3.06	25d	1	0.30mi
2800 E Sunrise Blvd Unit 19D Fort Lauderdale, FL	1.0	1.5	1000	$3,250	$3.25	4d	1	0.31mi
2424 NE 9th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1000	$2,950	$2.95	25d	3	0.35mi
2424 NE 9th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1000	$2,950	$2.95	4d	3	0.35mi
2424 NE 9th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1000	$2,950	$2.95	0d	2	0.35mi
2424 NE 9th St Unit 1323155P Fort Lauderdale, FL	2.0	2.0	1194	$6,162	$5.16	0d	1	0.35mi
2424 NE 9th St Unit 1323138P Fort Lauderdale, FL	2.0	2.0	1194	$6,439	$5.39	9d	1	0.35mi
2424 NE 9th St Unit 1323128P Fort Lauderdale, FL	2.0	2.0	1194	$4,151	$3.48	9d	1	0.35mi
2530 NE 9th St #1 Fort Lauderdale, FL	2.0	2.0	1345	$3,600	$2.68	25d	1	0.35mi
888 Intracoastal Dr Fort Lauderdale, FL	1.0	1.5–2.0	955	$2,400	$2.51	25d	2	0.40mi
1180 N Federal Hwy #1103 Fort Lauderdale, FL	2.0	2.0	1738	$6,800	$3.91	4d	1	0.43mi
2724 NE 15th St Apt 1 Fort Lauderdale, FL	2.0	2.0	980	$2,200	$2.24	0d	1	0.44mi
1170 N Federal Hwy #604 Fort Lauderdale, FL	2.0	2.0	1611	$3,500	$2.17	25d	1	0.46mi
1170 N Federal Hwy #1110 Fort Lauderdale, FL	2.0	2.0	1344	$2,250	$1.67	16d	1	0.46mi
1170 N Federal Hwy #311 Fort Lauderdale, FL	2.0	2.0	1491	$3,000	$2.01	25d	1	0.46mi
3000 E Sunrise Blvd Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1024	$4,350	$4.25	13d	3	0.46mi
3000 E Sunrise Blvd Unit 14C Fort Lauderdale, FL	2.0	2.0	1202	$4,000	$3.33	0d	1	0.46mi
3000 E Sunrise Blvd Unit 14C Fort Lauderdale, FL	2.0	2.0	1202	$4,000	$3.33	6d	1	0.46mi
3000 E Sunrise Blvd Unit PHG Fort Lauderdale, FL	2.0	2.0	1202	$4,200	$3.49	6d	1	0.47mi
3000 E Sunrise Blvd Unit PHG Fort Lauderdale, FL	2.0	2.0	1202	$4,250	$3.54	16d	1	0.47mi
1160 N Federal Hwy #315 Fort Lauderdale, FL	1.0	1.0	900	$1,950	$2.17	25d	1	0.50mi
1160 N Federal Hwy #1222 Fort Lauderdale, FL	2.0	2.0	1344	$2,800	$2.08	18d	1	0.50mi
3114 E Sunrise Blvd Fort Lauderdale, FL	2.0	1.0	1000	$4,500	$4.50	25d	1	0.51mi
720 Bayshore Dr #403 Fort Lauderdale, FL	2.0	1.5	1174	$2,600	$2.21	0d	1	0.54mi
905 Sunrise Ln Unit 905 Fort Lauderdale, FL	1.0	1.0	1010	$2,000	$1.98	25d	1	0.54mi
2118 NE 15th St Fort Lauderdale, FL	3.0	2.0	1700	$15,000	$8.82	25d	1	0.54mi
2031 NE 14th Ct Fort Lauderdale, FL	3.0	3.0	1548	$8,000	$5.17	14d	1	0.57mi
2031 NE 14th Ct Fort Lauderdale, FL	3.0	3.0	1548	$8,000	$5.17	25d	1	0.57mi

HOA detail condo

• Monthly dues: $1,047 · $12,564/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $299,000 Active 100 DOM
2. 2026-06-18
   days on market $299,000 Active 97 DOM
3. 2026-06-17
   days on market $299,000 Active 96 DOM
4. 2026-06-16
   days on market $299,000 Active 95 DOM
5. 2026-06-15
   days on market $299,000 Active 94 DOM
6. 2026-06-13
   days on market $299,000 Active 92 DOM
7. 2026-06-09
   days on market $299,000 Active 88 DOM
8. 2026-06-08
   days on market $299,000 Active 87 DOM
9. 2026-06-07
   days on market $299,000 Active 86 DOM
10. 2026-06-04
    days on market $299,000 Active 83 DOM
11. 2026-06-03
    days on market $299,000 Active 82 DOM
12. 2026-06-02
    days on market $299,000 Active 81 DOM
13. 2026-06-01
    days on market $299,000 Active 80 DOM
14. 2026-05-31
    days on market $299,000 Active 79 DOM
15. 2026-05-08
    historical $2,500
16. 2026-05-02
    price $2,500
17. 2026-03-25
    listed $2,650
18. 2026-03-24
    historical $2,650
19. 2026-03-14
    listed $2,650
20. 2026-03-13
    listed $299,000 Active
21. 2023-02-01
    soldstatus $310,000
22. 2018-07-27
    soldstatus $195,000
23. 2000-04-03
    soldstatus $90,000
24. 1998-11-24
    soldstatus $57,000
25. 1982-06-01
    soldstatus $73,000

ⓘ 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: $5,629 · $469/mo
• Projected year-2 tax: $5,629 · $469/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: $48,801
• − Mortgage interest: −$16,749
• − Property taxes: −$5,629
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,904
• − Management: −$3,904
• − HOA: −$12,564
• − Depreciation: −$8,698
• Taxable loss: −$4,142
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $1,043/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): 18,332
• Household income: $84,920
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1534.0

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 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 19% Two or more races 17% Black 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3%
• Common ancestry: Hispanic 5% Scotch-Irish 3% Romanian 2%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 20% Other Indo-European 6% French/Haitian/Cajun 5%

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: ▼ -522.22%
• Current HPI: 348.0065
• Rent YoY: ▲ 2.75%
• 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

-96.6% since first listed

11 events — show timeline

• 2026-05-08 Rental Removed $2,500 RMLSFL
• 2026-05-02 Price Changed $2,500 RMLSFL
• 2026-03-25 Listed for Rent $2,650 RMLSFL
• 2026-03-24 Rental Removed $2,650 GFLMLS
• 2026-03-14 Listed for Rent $2,650 GFLMLS
• 2026-03-13 Listed $299,000 Beaches MLS
• 2023-02-01 Sold (Public Records) $310,000 Public Records
• 2018-07-27 Sold (Public Records) $195,000 Public Records
• 2000-04-03 Sold (Public Records) $90,000 Public Records
• 1998-11-24 Sold (Public Records) $57,000 Public Records
• 1982-06-01 Sold (Public Records) $73,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $5,629 · -9.9% YoY. Source: county tax records.