190 SE 5th Ave #202 · Dania Beach, FL 33004

$194,900

2 bd · 2.0 ba · 1,190 sqft · Condo public records · 194 Days on market

Built 1992 $595/mo HOA · 24% 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 +12.4/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

* * One of the most desirable and newer buildings at Meadowbrooks * * Tiled thruout, spacious balcony overlooking a quiet lake view. Well maintained building. All certification already done with no pending assessments and being one of the newer buildings in the community this one comes with a full size washer and dryer. PS. Association represent themselves HOPA and No Lease first 2 years.

Key facts

• Spacious balcony
• Quiet lake view
• $595 HOA

Tags

• SPACIOUS BALCONY
• QUIET LAKE VIEW
• FULL SIZE WASHER AND DRYER

Property features AI

Finance

• Other: Pets not allowed
• Financial info: Monthly association fee of $595
• HOA & community: Monthly association fee; Association fee covers common areas, hot water, insurance, parking, pools, recreation facilities and water; Community amenities include clubhouse, pool, transportation service and elevators; Senior community

Exterior

• Parking: Guest parking; One assigned space; Parking included in association
• Utilities: Water included in association; Association provides hot water; Central power and sewer
• Home design: Attached property; Entry on level 2; 5-story building; Resale unit
• Construction: Block construction
• Exterior features: Balcony (screened); Lagoon waterfront; Association pool

Interior

• Kitchen: Electric range; Disposal; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Partially furnished; Elevator access; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Hot water included in association

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (8.9% below list).
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.8% in Dania 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 77/100 on livability (#180 in FL, #2,806 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A, housing A; Watch: employment D, amenities F.
• 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); South Broward High School (math 24% / reading 49%, grade F, #351 of 667 statewide, top 54%, 2,397 students, 59% FRL).
• Market conditions: Rents soft (-1.7%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,513/mo this rent would consume 57% of the median local household income ($53k/yr) (locally 1999% 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 $1k of loan paydown is wiped out by about $6k 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 194 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: major flood risk; 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 $171,512 (12.0% 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 194 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.29% ✓
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.18×
• Total profit: $-44,685
• Equity at exit: $29,060

10-year hold

• IRR: -48.3%
• Equity multiple: -0.35×
• Total profit: $-73,403
• Equity at exit: $16,851

Cash invested: $54,572 (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 33004

• Rents YoY: -1.7%
• Active inventory: 209
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,513 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$319 /mo · $3,824/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$595
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-98

Break-even live

Break-even rent $2,637

Max offer price $177,628

Occupancy floor 99%

Sensitivity live

Price	-10% $13	-5% $-43	+0% $-98	+5% $-153	+10% $-208
Rent	-10% $-296	-5% $-197	+0% $-98	+5% $2	+10% $101
Rate	-1.0pp $0	-0.5pp $-48	base $-98	+0.5pp $-148	+1.0pp $-200

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 SE 3rd St Dania, FL	2.0	2.0	1190	$2,300	$1.93	0d	2	0.07mi
121 SE 3rd Ave #106 Dania, FL	2.0	2.0	1190	$2,300	$1.93	26d	1	0.08mi
121 SE 3rd Ave #504 Dania, FL	2.0	2.0	1190	$2,000	$1.68	26d	1	0.08mi
441 SE 3rd St #404 Dania, FL	2.0	2.0	1190	$2,700	$2.27	12d	1	0.10mi
441 SE 3rd St #505 Dania, FL	2.0	2.0	1190	$2,150	$1.81	12d	1	0.10mi
441 SE 3rd St #505 Dania, FL	2.0	2.0	1190	$2,150	$1.81	26d	1	0.10mi
441 SE 3rd St #404 Dania, FL	2.0	2.0	1190	$2,700	$2.27	6d	1	0.10mi
431 SE 3rd St #402 Dania, FL	2.0	2.0	1190	$2,200	$1.85	3d	1	0.12mi
431 SE 3rd St #402 Dania, FL	2.0	2.0	1190	$2,200	$1.85	0d	1	0.12mi
141 SE 3rd Ave #203 Dania, FL	2.0	2.0	1190	$2,500	$2.10	26d	1	0.18mi
301 SE 3rd St #109 Dania, FL	2.0	2.0	1190	$2,400	$2.02	26d	1	0.19mi
301 SE 3rd St Dania, FL	1.0–2.0	1.0–2.0	1190	$2,650	$2.23	3d	2	0.19mi
301 SE 3rd St #204 Dania, FL	2.0	2.0	1190	$2,650	$2.23	6d	1	0.19mi
600 E Dania Beach Blvd Dania, FL	3.0	1.0–2.0	951	$3,226	$3.39	0d	34	0.23mi
211 SE 1st Ter Dania, FL	3.0	2.0	1200	$3,500	$2.92	21d	1	0.32mi
501 E Dania Beach Blvd Unit 5 M Dania Beach, FL	2.0	2.0	1070	$2,100	$1.96	26d	1	0.33mi
505 E Beach Blvd Unit 4-2E Dania, FL	1.0	1.5	900	$1,800	$2.00	26d	1	0.35mi
601 E Dania Beach Blvd Dania, FL	3.0	1.0–2.0	942	$3,606	$3.83	0d	33	0.36mi
304 SE 4th St Dania, FL	2.0	2.0	1436	$4,400	$3.06	19d	1	0.37mi
115 SE 2nd St Unit 1 Dania Beach, FL	2.0	1.0	1150	$2,400	$2.09	26d	1	0.38mi
608 NE 2nd St Dania, FL	2.0	2.0	1020	$2,400	$2.35	7d	2	0.39mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,925	$2.26	7d	3	0.40mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	13d	6	0.40mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,950	$2.29	12d	4	0.40mi
500 NE 2nd St Dania, FL	2.0	2.0	933	$1,925	$2.06	12d	3	0.40mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	26d	6	0.40mi
34 SE 1st Ave Unit B Dania Beach, FL	1.0	1.0	1050	$2,400	$2.29	26d	1	0.46mi
204 SE 4th Ter Dania, FL	3.0	2.0	1227	$5,500	$4.48	21d	1	0.48mi
624 NE 2nd St Dania Beach, FL	1.0–2.0	1.0–2.0	931	$2,995	$3.22	4d	3	0.49mi
4 N Federal Hwy Dania, FL	3.0	1.0–2.0	852	$3,089	$3.62	0d	40	0.50mi
28 SE 4th St Dania, FL	3.0	2.0	1179	$2,900	$2.46	0d	1	0.51mi
241 SW 1st Ave Unit 1-2 Dania Beach, FL	2.0	1.0	1450	$2,200	$1.52	6d	1	0.52mi
101 SW 1st St Dania Beach, FL	2.0	1.0–2.0	902	$4,080	$4.52	0d	42	0.55mi
213 SW 2nd Ave Unit A Dania Beach, FL	1.0	1.0	700	$2,354	$3.36	9d	1	0.59mi
602 SE 2nd Ave Dania, FL	2.0	1.0	1000	$1,950	$1.95	26d	1	0.61mi
310 SW 2nd Ave Dania, FL	2.0	1.0	800	$2,295	$2.87	26d	1	0.64mi
212 SW 2nd Pl Unit 1258734P Dania Beach, FL	2.0	2.5	1259	$6,027	$4.79	0d	1	0.66mi
208 SW 3rd Pl Dania, FL	2.0	1.0	952	$2,300	$2.42	26d	1	0.68mi
1077 SE 6th Ave Dania, FL	3.0	3.0	1493	$3,550	$2.38	26d	1	0.69mi
311 Gulfstream Rd Dania, FL	3.0	2.5	1200	$2,900	$2.42	23d	1	0.70mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $194,900 Active 194 DOM
2. 2026-06-18
   days on market $194,900 Active 191 DOM
3. 2026-06-17
   days on market $194,900 Active 190 DOM
4. 2026-06-16
   days on market $194,900 Active 189 DOM
5. 2026-06-15
   days on market $194,900 Active 188 DOM
6. 2026-06-13
   days on market $194,900 Active 186 DOM
7. 2026-06-09
   pricedays on market $194,900 Active 182 DOM
8. 2026-06-07
   days on market $199,900 Active 180 DOM
9. 2026-06-04
   days on market $199,900 Active 177 DOM
10. 2026-06-03
    days on market $199,900 Active 176 DOM
11. 2026-06-02
    days on market $199,900 Active 175 DOM
12. 2026-06-01
    days on market $199,900 Active 174 DOM
13. 2026-05-31
    days on market $199,900 Active 173 DOM
14. 2026-03-13
    price $199,900
15. 2026-01-06
    price $219,900
16. 2025-12-09
    listed $229,900 Active
17. 2025-12-05
    historical
18. 2025-08-25
    price $249,900
19. 2025-06-06
    price $259,900
20. 2025-03-13
    price $265,000
21. 2024-12-13
    listed $269,900 Active
22. 2024-10-31
    historical
23. 2024-09-06
    price $274,900
24. 2024-06-27
    price $280,000
25. 2024-05-14
    price $285,000
26. 2024-04-06
    listed $290,000 Active
27. 2011-01-29
    historical
28. 2010-07-29
    listed $189,999

ⓘ 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: $3,824 · $319/mo
• Projected year-2 tax: $3,824 · $319/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,161
• − Mortgage interest: −$10,917
• − Property taxes: −$3,824
• − Insurance: −$1,772
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − HOA: −$7,140
• − Depreciation: −$5,670
• Taxable loss: −$3,988
• Est. tax savings @ 24.0%: +$957
• After-tax cash flow: $-216/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 — Dania Beach

• Score: 77/100
• State rank: #180
• US rank: #2806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dania Beach, FL
• County: Broward County · 1,963,430 people
• City population: 17,094
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 17,094
• Household income: $52,574
• Rent vs Own: 61.3% rent · 38.7% own
• Severe rent burden: 1999.0

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 0.68)
• Race & ethnicity: White 42% Hispanic / Latino 28% Black 24% Two or more races 19% Asian 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 7% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Hispanic 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 25% Other Indo-European 4% 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: ▼ -377.03%
• Current HPI: 335.6607
• Rent YoY: ▼ -1.66%
• 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

+5.2% since first listed

15 events — show timeline

• 2026-03-13 Price Changed $199,900 MARMLS
• 2026-01-06 Price Changed $219,900 MARMLS
• 2025-12-09 Listed $229,900 MARMLS
• 2025-12-05 Listing Removed — MARMLS
• 2025-08-25 Price Changed $249,900 MARMLS
• 2025-06-06 Price Changed $259,900 MARMLS
• 2025-03-13 Price Changed $265,000 MARMLS
• 2024-12-13 Listed $269,900 MARMLS
• 2024-10-31 Listing Removed — MARMLS
• 2024-09-06 Price Changed $274,900 MARMLS
• 2024-06-27 Price Changed $280,000 MARMLS
• 2024-05-14 Price Changed $285,000 MARMLS
• 2024-04-06 Listed $290,000 MARMLS
• 2011-01-29 Listing Removed — MARMLS
• 2010-07-29 Listed $189,999 MARMLS

Property tax history

+11.8%/yr

Latest (2025): $3,824 · -4.8% YoY. Source: county tax records.