2901 NE 51st St · Fort Lauderdale, FL 33308

$280,000

2 bd · 2.0 ba · 768 sqft · Condo · 36 Days on market

Built 1971 Good condition $409/mo HOA · 11% of rent

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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 +23.6/30.0
• 1% rule +8.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Waterview Condos — one of Fort Lauderdale's best-kept secrets. Tucked inside a 2-story building of 11 residences in the coveted Landings neighborhood, this 2-bedroom, 2-bath condo offers serene canal views along a quiet offshoot of the Intracoastal Waterway. Each bedroom enjoys its own full bath, great as a home, winter retreat, or investment — rentals are permitted. Location is everything here. Just over the bridge from Lauderdale-by-the-Sea, you're steps from waterfront dining, white sand beaches, and world-class diving. Low HOA fees, a pet-friendly building, and a warm owner community make this the rare find that truly feels like home. Beautifully renovated kitchen

Key facts

• White sand beaches
• Waterfront dining
• Renovated kitchen

Tags

• CANAL VIEWS
• WATERFRONT DINING
• WHITE SAND BEACHES
• WORLD-CLASS DIVING
• PET-FRIENDLY BUILDING
• RENOVATED KITCHEN

Property features AI

Finance

• HOA & community: Community association with monthly fee; Monthly HOA fee includes insurance, grounds maintenance, pest control, trash, water, common areas, legal/accounting, reserve funds, and roof repairs; Association amenities include laundry and parking; Pets allowed (cats and dogs allowed; breed, number and size restrictions may apply)

Exterior

• Parking: 1 parking space; Association parking available
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Resale; 2 stories; Faces west
• Construction: CBS construction; Built-up roof; Built in (year not provided)
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Electric water heater; Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Mcnab Elementary School (math 51% / reading 63%, grade C+, #781 of 2,144 statewide, top 38%, 614 students, 56% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL).
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 32 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 $3,635/mo this rent would consume 46% of the median local household income ($94k/yr) (locally 912% 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 $8k 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 36 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Recommended offer $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-9,136
• Equity at exit: $41,749

10-year hold

• IRR: 7.5%
• Equity multiple: 1.59×
• Total profit: $46,205
• Equity at exit: $24,209

Cash invested: $78,400 (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 33308

• Rents YoY: 3.6%
• Active inventory: 739
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,635 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$409
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $528

Break-even live

Break-even rent $2,967

Max offer price $280,000

Occupancy floor 80%

Sensitivity live

Price	-10% $721	-5% $624	+0% $528	+5% $431	+10% $334
Rent	-10% $241	-5% $384	+0% $528	+5% $671	+10% $815
Rate	-1.0pp $669	-0.5pp $599	base $528	+0.5pp $455	+1.0pp $381

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 Bayview Dr #303 Fort Lauderdale, FL	2.0	2.0	1032	$3,500	$3.39	24d	1	0.20mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	24d	1	0.61mi
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	24d	1	0.84mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	24d	1	0.85mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	18d	1	0.85mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	15d	1	0.93mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	24d	1	0.93mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	24d	1	0.99mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	24d	1	1.02mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.18mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	5d	3	1.18mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	2d	16	1.20mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	18d	4	1.22mi
3900 Galt Ocean Dr Fort Lauderdale, FL	2.0	1.5–2.0	1429	$4,675	$3.27	17d	3	1.22mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	22d	1	1.24mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	3d	1	1.24mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	24d	1	1.27mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	20d	1	1.27mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	1d	1	1.27mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	5d	6	1.30mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	15d	6	1.30mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,250	$3.97	3d	7	1.30mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,694	$2.47	2d	17	1.30mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1000	$6,500	$6.50	3d	3	1.32mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	17d	4	1.32mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	21d	3	1.32mi
3700 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1025	$3,790	$3.70	24d	2	1.36mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,750	$3.22	21d	3	1.37mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,800	$3.26	8d	2	1.37mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$3,716	$3.16	2d	40	1.42mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	24d	1	1.47mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	4d	1	1.47mi

HOA detail condo

• Monthly dues: $409 · $4,908/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $280,000 Active 36 DOM
2. 2026-06-17
   pricedays on market $280,000 Active 35 DOM
3. 2026-06-16
   days on market $285,000 Active 34 DOM
4. 2026-06-15
   days on market $285,000 Active 33 DOM
5. 2026-06-13
   days on market $285,000 Active 31 DOM
6. 2026-06-09
   days on market $285,000 Active 27 DOM
7. 2026-06-08
   days on market $285,000 Active 26 DOM
8. 2026-06-07
   days on market $285,000 Active 25 DOM
9. 2026-06-04
   days on market $285,000 Active 22 DOM
10. 2026-06-03
    days on market $285,000 Active 21 DOM
11. 2026-06-02
    days on market $285,000 Active 20 DOM
12. 2026-06-01
    days on market $285,000 Active 19 DOM
13. 2026-05-31
    days on market $285,000 Active 18 DOM
14. 2026-05-12
    listed $285,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,621
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,490
• − Management: −$3,490
• − HOA: −$4,908
• − Depreciation: −$8,145
• Taxable income: $2,304
• Est. tax owed @ 24.0%: −$553
• After-tax cash flow: $5,780/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.

Condition & rehab AI · 15 photos

Good 75/100 Cosmetic rehab

This well-maintained, recently renovated townhouse in the Landings neighborhood offers serene canal views and is move-in ready.

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Both Deck cleaning and maintenance — Improves outdoor living space and enhances curb appeal
• Both Window treatments — Enhances interior aesthetics and provides privacy

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Deck cleaning and maintenance — Improves outdoor living space and enhances curb appeal ↑
• Both Window treatments — Enhances interior aesthetics and provides privacy ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 27,935
• Household income: $93,879
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 912.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 14% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 14% Other Indo-European 5% Russian/Polish/Slavic 2%

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: ▼ -417.95%
• Current HPI: 325.3902
• Rent YoY: ▲ 3.63%
• 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

1 event — show timeline

• 2026-05-12 Listed $285,000 Beaches MLS