1425 NE 22nd St · Wilton Manors, FL 33305

$489,000

4 bd · 2.0 ba · 1,679 sqft · MultiFamily · 1 Days on market

Built 1963

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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 +14.3/30.0
• ARV discount +7.5/15.0
• Livability +4.5/5.0
• DSCR +4.4/10.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This mid-century jewel box features two 2 bedroom, 1 bath units totaling 840+- SF each. Key features include open kitchens, oversized windows. large private outdoor spaces, separate meters (electric updated in 2015), shutters, room for a pool, concrete Bahamian tile roof, on-site laundry (could be converted to coin laundry for additional income), one car carport with plenty of extra parking spaces. Close Colohatchee Park on The Middle River with dog park and exercise equipment. Walk just 8 blocks to Wilton Drive, 3 blocks to Stork's Bakery & 5 blocks to Publix. 10 min. drive to beach or Las Olas Blvd. Solid apartment building in great location. Can be rented AS-IS or remodelled for ma

Key facts

• 4 parking spots
• Built 1963

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $489k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $439k (10.2% below list).
• Recommended offer: $439k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.3% in Wilton Manors — 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 90/100 on livability (#1 in FL, #78 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living 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.
• Market conditions: Rents soft (-0.4%/yr); 298 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,393/mo this rent would consume 57% of the median local household income ($92k/yr) (locally 761% 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 $3k of loan paydown is wiped out by about $15k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,300 (10.2% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 9.3

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: -18.4%
• Equity multiple: 0.37×
• Total profit: $-86,245
• Equity at exit: $72,911

10-year hold

• IRR: -18.3%
• Equity multiple: 0.14×
• Total profit: $-117,113
• Equity at exit: $42,280

Cash invested: $136,920 (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 33305

• Rents YoY: -0.4%
• Active inventory: 298
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $4,393 high
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $91

Break-even live

Break-even rent $4,278

Max offer price $489,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,394
Total (2 units)			$4,393

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 NE 24th St Wilton Manors, FL	1.0–3.0	1.0–2.0	992	$3,800	$3.83	15d	10	0.09mi
2207 NE 16th Ave Wilton Manors, FL	3.0	2.0	1750	$9,500	$5.43	24d	1	0.19mi
1917 NE 16th Ter Fort Lauderdale, FL	3.0	2.0	1674	$3,850	$2.30	24d	1	0.22mi
1101 NE 18th Ct Unit 1 Fort Lauderdale, FL	3.0	2.0	1210	$2,650	$2.19	24d	1	0.34mi
2616 NE 16th Ave Unit 1541794P Wilton Manors, FL	4.0	2.5	2088	$5,542	$2.65	8d	1	0.35mi
1786 NE 21st St Fort Lauderdale, FL	4.0	2.0	2003	$6,250	$3.12	24d	1	0.42mi
1701 NE 16th Ave Fort Lauderdale, FL	3.0	2.0	1188	$4,000	$3.37	18d	1	0.43mi
2802 NE 15th Ave Wilton Manors, FL	4.0	2.5	1921	$4,000	$2.08	18d	1	0.49mi
2225 NE 20th Ave Wilton Manors, FL	3.0	2.0	1593	$5,800	$3.64	24d	1	0.50mi
1606 NE 15th Ave Unit 1606 Fort Lauderdale, FL	3.0	2.0	1550	$5,200	$3.35	24d	1	0.53mi
1531 NE 15th Ave Fort Lauderdale, FL	3.0	2.0	1345	$3,700	$2.75	24d	1	0.58mi
1531 NE 15th Ave Fort Lauderdale, FL	3.0	2.0	1345	$3,500	$2.60	15d	1	0.58mi
1520 NE 14th Ter Fort Lauderdale, FL	3.0	2.0	1500	$5,500	$3.67	14d	1	0.59mi
1520 NE 14th Ter Fort Lauderdale, FL	3.0	2.0	1500	$5,500	$3.67	8d	1	0.59mi
720 NE 17th Ct Fort Lauderdale, FL	4.0	3.0	1336	$5,600	$4.19	24d	1	0.63mi
1532 NE 17th Ave Fort Lauderdale, FL	3.0	2.0	1612	$5,500	$3.41	11d	1	0.63mi
1737 NE 7th Ter Fort Lauderdale, FL	3.0	2.0	1216	$5,000	$4.11	3d	1	0.63mi
1737 NE 7th Ter Fort Lauderdale, FL	3.0	2.0	1216	$5,000	$4.11	15d	1	0.63mi
1649 NE 8th Ave Fort Lauderdale, FL	5.0	3.0	1776	$5,400	$3.04	4d	1	0.64mi
605 Kensington Pl Wilton Manors, FL	3.0	2.5	1900	$5,200	$2.74	24d	1	0.65mi
609 NE 28th St #1 Wilton Manors, FL	3.0	3.5	1800	$3,300	$1.83	15d	1	0.68mi
1733 Coral Gardens Dr Wilton Manors, FL	3.0	3.0	1650	$10,500	$6.36	20d	1	0.68mi
520 NE 20th St Wilton Manors, FL	1.0–3.0	1.0–2.0	947	$2,914	$3.08	1d	10	0.72mi
1570 NE 30th Pl Oakland Park, FL	3.0	2.0	1942	$4,700	$2.42	24d	1	0.72mi
425 NE 25th St Wilton Manors, FL	3.0	2.0	1439	$8,000	$5.56	24d	1	0.75mi
1806 NE 22nd Ter Fort Lauderdale, FL	3.0	3.0	1854	$8,000	$4.31	24d	1	0.81mi
1925 NE 29th Ct Fort Lauderdale, FL	3.0	2.0	1537	$4,999	$3.25	24d	1	0.82mi
1337 NE 16th Ave Fort Lauderdale, FL	4.0	3.0	1651	$3,700	$2.24	24d	1	0.83mi
2213 NE 16th St Fort Lauderdale, FL	3.0	3.0	2189	$6,200	$2.83	3d	1	0.87mi
417 NE 29th St Wilton Manors, FL	3.0	2.0	1596	$5,800	$3.63	24d	1	0.89mi
3320 NE 13th Ave Unit 3320 Oakland Park, FL	3.0	2.5	1433	$3,600	$2.51	24d	1	0.89mi
2101 NE 15th St Fort Lauderdale, FL	3.0	2.0	1958	$6,900	$3.52	24d	1	0.94mi
537 NE 14th Ct Fort Lauderdale, FL	3.0	2.0	1668	$4,750	$2.85	24d	1	0.95mi
2031 NE 14th Ct Fort Lauderdale, FL	3.0	3.0	1548	$9,500	$6.14	19d	1	0.95mi
2031 NE 14th Ct Fort Lauderdale, FL	3.0	3.0	1548	$8,000	$5.17	24d	1	0.95mi
2031 NE 14th Ct Fort Lauderdale, FL	3.0	3.0	1548	$8,000	$5.17	13d	1	0.95mi
1881 Middle River Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.0	1390	$3,100	$2.23	15d	2	0.96mi
1881 Middle River Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.0	1095	$3,100	$2.83	13d	2	0.96mi
1547 NE 34th St Unit 1541793P Oakland Park, FL	3.0	2.0	1689	$5,071	$3.00	8d	1	0.96mi
1236 NE 12th Ave Unit B Fort Lauderdale, FL	4.0	2.0	1400	$3,650	$2.61	24d	1	0.97mi

Listing history 4 events

1. 2026-02-27
   status Pending
2. 2026-02-26
   listed $489,000 Active
3. 2020-04-05
   historical
4. 2019-11-15
   listed $420,000 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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $52,716
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$4,217
• − Management: −$4,217
• − Depreciation: −$14,225
• Taxable loss: −$7,116
• Est. tax savings @ 24.0%: +$1,708
• After-tax cash flow: $2,801/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 — Wilton Manors

• Score: 90/100
• State rank: #1
• US rank: #78

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilton Manors, FL
• County: Broward County · 1,963,430 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 13,243
• Household income: $92,485
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 761.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Slovak 3%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 10% Russian/Polish/Slavic 4% French/Haitian/Cajun 3%

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: ▼ -531.96%
• Current HPI: 386.0729
• Rent YoY: ▼ -0.43%
• 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

+16.4% since first listed

4 events — show timeline

• 2026-02-27 Pending — MARMLS
• 2026-02-26 Listed $489,000 MARMLS
• 2020-04-05 Listing Removed — MARMLS
• 2019-11-15 Listed $420,000 MARMLS