2240 Dr Martin Luther King Jr Blvd · Pompano Beach, FL 33069

$106,660

3 bd · 2.0 ba · 1,258 sqft · SingleFamily public records · 8 Days on market

Built 1988 0.26 ac lot

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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 +3.7/5.0
• Appreciation +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Charming single-family home with new roof, included in a rare 3-parcel package offered in Pompano Beach for a total price of $2.4M. Property is being sold together with a church and adjacent vacant land, totaling 30,293 SF. WILL NOT BE SOLD SEPERATELY! Located on a high-visibility corridor zoned B-3, offering exceptional flexibility for redevelopment, live-work use, or investment. Home interior requires updates—ideal opportunity to renovate, expand, or incorporate into a broader commercial or mixed-use vision. Close to major highways, schools, and growing development zones. Property will not be sold separately. Showings by appointment with notice and NDA.

Key facts

• Zoned b-3
• New roof
• 0.26 acre lot

Tags

• NEW ROOF
• ZONED B-3
• CLOSE TO MAJOR HIGHWAYS
• GROWING DEVELOPMENT ZONES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $107k).
• Cap rate 25.2% vs local median 3.1% in Pompano 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 74/100 on livability (#284 in FL, #4,541 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: schools D+, 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.
• Market conditions: Rents soft (-0.3%/yr); 438 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); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,962/mo this rent would consume 60% of the median local household income ($60k/yr) (locally 1670% 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 $737 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $30k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $107k implies a 789% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,660

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.78% ✓
• Cap rate: 25.18%
• Cash-on-cash: 67.45%
• DSCR: 4.00
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $387,464
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1901 NW 4th St	0.62mi	3/2.0	1,395 (+11%)	11mo	$430,000	$308	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 63.5%
• Equity multiple: 3.71×
• Total profit: $80,942
• Equity at exit: $15,903

10-year hold

• IRR: 67.0%
• Equity multiple: 6.85×
• Total profit: $174,591
• Equity at exit: $9,222

Cash invested: $29,865 (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 33069

• Home prices YoY: -1.1%
• Rents YoY: -0.3%
• Active inventory: 438
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,962 high
• Mortgage (P&I): −$559
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $1,679

Break-even live

Break-even rent $837

Max offer price $106,660

Occupancy floor 38%

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: $26,665
• Closing costs: $3,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2350 NW 12th Ct Pompano Beach, FL	4.0	3.0	1319	$4,114	$3.12	11d	1	0.11mi
990 Powerline Rd Pompano Beach, FL	1.0–2.0	1.0–2.0	833	$2,388	$2.87	2d	14	0.15mi
1880 NW 8th St Pompano Beach, FL	3.0	2.0	1539	$3,400	$2.21	21d	1	0.37mi
1880 NW 8th St Unit 1880 Pompano Beach, FL	3.0	2.0	1539	$3,400	$2.21	5d	1	0.37mi
2321 NW 6th St Pompano Beach, FL	3.0	2.0	1404	$3,300	$2.35	24d	1	0.41mi
1305 NW 27th Ave Pompano Beach, FL	3.0	2.5	1348	$2,999	$2.22	24d	1	0.43mi
1313 NW 27th Ave Pompano Beach, FL	3.0	2.5	1348	$3,200	$2.37	24d	1	0.43mi
2691 NW 8th St Pompano Beach, FL	4.0	2.0	1200	$2,950	$2.46	5d	1	0.46mi
2143 NW 4th St Unit 2 Pompano Beach, FL	3.0	2.5	1415	$3,200	$2.26	24d	1	0.55mi
2713 NW 6th St Pompano Beach, FL	3.0	2.0	1283	$3,250	$2.53	8d	1	0.60mi
2713 NW 6th St Pompano Beach, FL	3.0	2.0	1283	$3,250	$2.53	24d	1	0.60mi
480 NW 27th Ave Pompano Beach, FL	2.0	2.5	1260	$2,800	$2.22	24d	1	0.62mi
2900 NW 8th St Pompano Beach, FL	3.0	2.0	1144	$2,600	$2.27	24d	1	0.64mi
635 NW 30th Ave Pompano Beach, FL	3.0	2.5	1348	$2,999	$2.22	3d	1	0.76mi
2720 NW 2nd St Pompano Beach, FL	3.0	2.0	1210	$2,700	$2.23	24d	1	0.82mi
650 NW 30th Ave Pompano Beach, FL	3.0	2.5	1428	$3,087	$2.16	2d	7	0.83mi
355 NW 30th Ave Unit 0601 Pompano Beach, FL	3.0	2.5	1348	$3,275	$2.43	24d	1	0.89mi
355 NW 30th Ter Pompano Beach, FL	3.0	3.0	1355	$3,275	$2.42	11d	1	0.89mi
305 NW 30th Ave Unit 305 Pompano Beach, FL	3.0	2.5	1348	$2,999	$2.22	24d	1	0.90mi
374 NW 31st Ave Pompano Beach, FL	3.0	1.0	1066	$2,600	$2.44	24d	1	0.98mi
1605 Abaco Dr Coconut Creek, FL	2.0	2.0	1362	$2,200	$1.61	24d	2	1.03mi
2829 N Course Dr #104 Pompano Beach, FL	2.0	2.0	1020	$1,950	$1.91	21d	1	1.07mi
1601 Abaco Dr Unit F2 Coconut Creek, FL	2.0	2.0	1275	$2,099	$1.65	12d	1	1.09mi
1501 Cayman Way Unit C4 Coconut Creek, FL	2.0	2.0	1225	$1,850	$1.51	24d	1	1.11mi
4301 Martinique Cir Unit K1 Coconut Creek, FL	2.0	2.0	1156	$2,000	$1.73	24d	1	1.14mi
1904 Bermuda Cir Unit G3 Coconut Creek, FL	2.0	2.0	1000	$1,600	$1.60	24d	1	1.14mi
1212 Bahama Bnd Coconut Creek, FL	2.0	2.0	938	$2,000	$2.13	24d	1	1.16mi
2801 N Course Dr Pompano Beach, FL	1.0–2.0	1.0–2.0	991	$2,325	$2.35	24d	12	1.17mi
2803 N Course Dr #203 Pompano Beach, FL	2.0	2.0	1120	$2,100	$1.88	21d	1	1.19mi
2803 N Course Dr #203 Pompano Beach, FL	2.0	2.0	1120	$2,050	$1.83	4d	1	1.19mi
1203 Bahama Bnd Coconut Creek, FL	2.0–3.0	2.0	1005	$2,000	$1.99	17d	2	1.21mi
4401 Martinique Ct Unit B2 Coconut Creek, FL	2.0	2.0	1156	$2,750	$2.38	24d	1	1.21mi
455 NW 33rd Ln Pompano Beach, FL	3.0	3.0	1800	$3,700	$2.06	24d	1	1.22mi
100 NW 33rd Ave Pompano Beach, FL	1.0–3.0	1.0–2.0	1078	$3,362	$3.12	24d	35	1.23mi
100 NW 33rd Ave Pompano Beach, FL	1.0–3.0	1.0–2.0	1078	$3,503	$3.25	2d	20	1.23mi
920 NW 8th Ave Unit 3 Pompano Beach, FL	2.0	1.5	1150	$1,900	$1.65	11d	1	1.25mi
2900 N Course Dr #107 Pompano Beach, FL	2.0	2.0	1216	$2,150	$1.77	15d	1	1.25mi
2900 N Course Dr #208 Pompano Beach, FL	3.0	2.5	1620	$2,695	$1.66	19d	1	1.25mi
939 NW 3rd St Unit 939 Pompano Beach, FL	3.0	2.5	1597	$3,300	$2.07	24d	1	1.25mi
3392 NW 5th St Pompano Beach, FL	3.0	2.5	1446	$3,550	$2.46	3d	1	1.26mi

Listing history 4 events

1. 2025-05-10
   status Pending
2. 2025-05-02
   price $106,660
3. 2025-05-01
   listed $1 Active
4. 1983-09-01
   soldstatus $12,000

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $885 · $74/mo
• Expected delta: +$194/yr (+$16/mo · 28.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,543
• − Mortgage interest: −$5,975
• − Property taxes: −$691
• − Insurance: −$533
• − Repairs & maintenance: −$2,843
• − Management: −$2,843
• − Depreciation: −$3,103
• Taxable income: $19,554
• Est. tax owed @ 24.0%: −$4,693
• After-tax cash flow: $15,450/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 — Pompano Beach

• Score: 74/100
• State rank: #284
• US rank: #4541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pompano Beach, FL
• County: Broward County · 1,963,430 people
• City population: 155,861
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,145
• Household income: $59,683
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1670.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 33% White 32% Hispanic / Latino 26% Two or more races 21% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3% Dominican 2%
• Common ancestry: Hispanic 9% Estonian 2% Romanian 2%
• Foreign-born: 33% · Canada, Jamaica
• Languages at home: 61% English-only · Spanish 23% French/Haitian/Cajun 9% Other Indo-European 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: ▼ -3.16%
• Current HPI: 297.1774
• Rent YoY: ▼ -0.29%
• 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

+788.8% since first listed

4 events — show timeline

• 2025-05-10 Pending — MARMLS
• 2025-05-02 Price Changed $106,660 MARMLS
• 2025-05-01 Listed $1 MARMLS
• 1983-09-01 Sold (Public Records) $12,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $691 · +6.6% YoY. Source: county tax records.