842 NW 1st Ave · Fort Lauderdale, FL 33311

$1,900,000

64 bd · 64.0 ba · 4,753 sqft · MultiFamily public records · 348 Days on market

Built 1973

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare opportunity to acquire an 8-unit multifamily in Progresso Village, just off Andrews Ave and Sunrise Blvd in Downtown Fort Lauderdale. The property offers eight 1-bed/1-bath units with modern interiors, impact doors, separate meters, and upgrades including new kitchens, stone counters, walk-in closets, vanities, light fixtures, and cabinets. Currently 7 units are leased with 1 recently renovated and vacant, generating $146,568 gross income with upside as rents renew. Sitting on a 10,000 SF lot zoned RMM-25 and in process of rezoning to NW RAC, the site offers potential to double the unit count. With rare seller financing at 5.5% interest-only, this investment delivers strong cash flow a

Key facts

• New kitchens
• Impact doors
• Walk-in closets

Tags

• 8 UNIT MULTIFAMILY
• MODERN INTERIORS
• IMPACT DOORS
• NEW KITCHENS
• WALK-IN CLOSETS
• 10

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Unit-level actual rent listed at $1,750 for the 1-bedroom unit type; Rent includes gardener, hot water, pest control, sewer, trash collection, and water
• HOA & community: No HOA or community details provided

Exterior

• Parking: Total of 11 parking spaces; Unit-level parking spaces (units listed as 'Parking: Space')
• Security: No security features provided
• Utilities: Cable available; Public sewer
• Home design: 2-story building; Resale property
• Construction: Block construction; Built-Up roof; Shingle roof
• Exterior features: Less than quarter acre lot; Zoned RMM-25

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Eight 1-bedroom units (each unit described at unit level)
• Flooring: Tile
• Bathrooms: Each of the 1-bedroom units has 1 full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Tile flooring
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 8 × 8-bed/8.0-bath units multifamily listed at $1.90M.

Deal economics

• At list price, monthly cash flow is $5k ($60k/yr) — positive. Per door: $625/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($22k rent vs $1.90M).
• Recommended offer: $1.67M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Market conditions: Rents rising (+2.8%/yr); 585 active listings in the ZIP; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $22,485/mo this rent would consume 500% of the median local household income ($54k/yr) (locally 5068% 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 $13k of loan paydown is wiped out by about $57k 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 + 2.8% rent growth), your $532k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 348 days — a 12% lower offer ($1.67M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $630k; list at $1.90M implies a 202% 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 $1,672,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 348 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 1973 — 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: 1.18% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.62%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $5,811
• Equity at exit: $283,296

10-year hold

• IRR: 9.7%
• Equity multiple: 1.74×
• Total profit: $395,408
• Equity at exit: $164,277

Cash invested: $532,000 (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 33311

• Rents YoY: 2.8%
• Active inventory: 585
• Price-to-rent: 56.3×

Monthly cashflow live

• Estimated rent: $22,485 medium
• Mortgage (P&I): −$9,964
• Tax from tax record: −$1,854 /mo · $22,250/yr
• Insurance: −$792
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,722
• Net cashflow: $5,001

Break-even live

Break-even rent $16,154

Max offer price $1,900,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 8× units	8	8	$22,488
Total (8 units)			$22,485

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: $475,000
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,900,000 Active 348 DOM
2. 2026-06-17
   days on market $1,900,000 Active 347 DOM
3. 2026-06-16
   days on market $1,900,000 Active 346 DOM
4. 2026-06-15
   days on market $1,900,000 Active 345 DOM
5. 2026-06-13
   days on market $1,900,000 Active 343 DOM
6. 2026-06-09
   days on market $1,900,000 Active 339 DOM
7. 2026-06-07
   days on market $1,900,000 Active 337 DOM
8. 2026-06-04
   days on market $1,900,000 Active 334 DOM
9. 2026-06-03
   days on market $1,900,000 Active 333 DOM
10. 2026-06-02
    days on market $1,900,000 Active 332 DOM
11. 2026-06-01
    days on market $1,900,000 Active 331 DOM
12. 2026-05-31
    days on market $1,900,000 Active 330 DOM
13. 2025-09-18
    price $1,900,000
14. 2025-07-05
    listed $2,050,000 Active
15. 2017-04-26
    soldstatus $630,000
16. 1978-04-01
    soldstatus $65,000

ⓘ 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: $22,250 · $1,854/mo
• Projected year-2 tax: $22,250 · $1,854/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 4/10 Moderate FEMA zone AH · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $269,820
• − Mortgage interest: −$106,430
• − Property taxes: −$22,250
• − Insurance: −$11,324
• − Repairs & maintenance: −$21,586
• − Management: −$21,586
• − Depreciation: −$55,273
• Taxable income: $31,372
• Est. tax owed @ 24.0%: −$7,529
• After-tax cash flow: $52,488/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): 74,898
• Household income: $53,973
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 5068.0

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 Black (77%)
• Race & ethnicity: Black 77% Two or more races 9% White 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 15% Lithuanian 1% Romanian 0%
• Foreign-born: 24% · Canada, Jamaica
• Languages at home: 78% English-only · French/Haitian/Cajun 14% Spanish 6% Other Indo-European 1%

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: ▼ -300.68%
• Current HPI: 535.2504
• Rent YoY: ▲ 2.78%
• 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

+2823.1% since first listed

4 events — show timeline

• 2025-09-18 Price Changed $1,900,000 MARMLS
• 2025-07-05 Listed $2,050,000 MARMLS
• 2017-04-26 Sold (Public Records) $630,000 Public Records
• 1978-04-01 Sold (Public Records) $65,000 Public Records

Property tax history

+12.3%/yr

Latest (2025): $22,250 · +8.8% YoY. Source: county tax records.