3051 NE 48th St #702 · Fort Lauderdale, FL 33308

$399,000

2 bd · 2.0 ba · 1,450 sqft · Condo public records · 69 Days on market

Built 1970 $795/mo HOA · 20% 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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spectacular location in the desirable neighborhood of Coral Ridge. Less than one mile to the beach, shopping and great restaurants. Unit is located on the TOP (7th) floor with balcony overlooking beautiful city views and tranquil views of the waterway. Spacious open floor plan with 2 large bedrooms with walk-in closet and 2 full baths. Enjoy Resort Style living by the beautifully kept Heated Pool with intracoastal views, Community Room with Kitchen, Guest Parking and Vehicle Wash Area. Dock Space can be rented when it becomes available.

Key facts

• Canal front
• Private balcony
• Updated kitchen

Tags

• CANAL FRONT
• OCEAN ACCESS
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• TILE BACKSPLASH
• PRIVATE BALCONY

Property features AI

Finance

• Other: Pets allowed with limits
• HOA & community: Association: Ridgeview Towers; Monthly HOA fee includes cable TV; Pool on site

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (1 total)
• Security: Security system; Entry with phone/intercom
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Resale unit; 7-story building; Faces north; East of US-1 frontage
• Construction: CBS construction; Other roof
• Exterior features: Pool (association amenity); Ocean access with no fixed bridge

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Central heating; Central air conditioning
• Bathrooms: 2 full bathrooms on the main level
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $382k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $398k (0.2% below list).
• Recommended offer: $375k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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: Bennett Elementary School (math 32% / reading 42%, grade F, #1,609 of 2,144 statewide, top 77%, 329 students, 80% FRL); Sunrise Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,242 students, 64% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $3,983/mo this rent would consume 51% 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 $3k of loan paydown is wiped out by about $12k 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 69 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $26k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $280k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,060 (6.0% 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 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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. 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: 1.00% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 8.3

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: -17.0%
• Equity multiple: 0.39×
• Total profit: $-67,802
• Equity at exit: $59,492

10-year hold

• IRR: -7.5%
• Equity multiple: 0.51×
• Total profit: $-54,812
• Equity at exit: $34,498

Cash invested: $111,720 (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: 746
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,983 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$188 /mo · $2,255/yr
• Insurance: −$166
• HOA: −$795
• Vacancy / Maint / Mgmt: −$836
• Net cashflow: $-95

Break-even live

Break-even rent $4,103

Max offer price $382,233

Occupancy floor 97%

Sensitivity live

Price	-10% $131	-5% $18	+0% $-95	+5% $-208	+10% $-321
Rent	-10% $-410	-5% $-252	+0% $-95	+5% $62	+10% $220
Rate	-1.0pp $106	-0.5pp $7	base $-95	+0.5pp $-198	+1.0pp $-303

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	26d	1	0.05mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	20d	1	0.11mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	24d	1	0.11mi
3111 NE 51st St Unit 301 Fort Lauderdale, FL	2.0	2.0	1300	$3,800	$2.92	26d	1	0.23mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	19d	1	0.33mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	24d	1	0.33mi
283 Imperial Ln Lauderdale by the Sea, FL	3.0	2.5	1761	$4,500	$2.56	26d	1	0.36mi
262 Bombay Ave Lauderdale by the Sea, FL	2.0	3.0	1803	$7,000	$3.88	26d	1	0.38mi
4454 W Tradewinds Ave Lauderdale by the Sea, FL	3.0	2.0	1808	$4,700	$2.60	20d	1	0.40mi
233 Commercial Blvd Unit 1541802P Lauderdale-By-The-Sea, FL	2.0	2.0	1291	$3,876	$3.00	5d	1	0.44mi
4511 Seagrape Dr Lauderdale by the Sea, FL	2.0	2.0	1218	$3,500	$2.87	26d	1	0.55mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	26d	1	0.59mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	26d	1	0.66mi
4445 El Mar Dr Unit 303 Lauderdale-By-The-Sea, FL	2.0	2.5	1672	$7,000	$4.19	26d	1	0.67mi
4445 El Mar Dr #2311 Lauderdale by the Sea, FL	2.0	2.5	1791	$5,850	$3.27	9d	1	0.67mi
4444 El Mar Dr #3404 Lauderdale by the Sea, FL	2.0	2.0	1256	$6,200	$4.94	26d	1	0.71mi
4444 El Mar Dr #3305 Lauderdale by the Sea, FL	2.0	2.5	1515	$7,000	$4.62	26d	1	0.71mi
4619 Poinciana St Unit 2A Lauderdale by the Sea, FL	3.0	2.5	1452	$3,900	$2.69	18d	1	0.72mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	2.0–2.5	2025	$6,000	$2.96	24d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.5	2025	$6,250	$3.09	6d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0–2.5	2125	$6,000	$2.82	7d	4	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.5	2025	$6,250	$3.09	4d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	2.0–2.5	2025	$6,000	$2.96	19d	5	0.74mi
4540 N Ocean Dr #210 Lauderdale by the Sea, FL	2.0	2.0	1450	$5,500	$3.79	26d	1	0.74mi
2100 NE 45th St #1 Fort Lauderdale, FL	3.0	3.5	1340	$9,500	$7.09	26d	1	0.75mi
4250 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1350	$3,650	$2.70	4d	2	0.79mi
4240 Galt Ocean Dr #1006 Fort Lauderdale, FL	3.0	2.0	1836	$6,000	$3.27	26d	1	0.80mi
4100 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0–2.5	2295	$3,500	$1.53	13d	1	0.83mi
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	26d	1	0.91mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1553	$8,750	$5.63	6d	6	0.91mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1536	$8,750	$5.69	6d	7	0.91mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1190	$3,150	$2.65	22d	2	0.94mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	7d	2	0.94mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	1355	$5,000	$3.69	15d	2	0.94mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	6d	3	0.94mi
4010 Galt Ocean Dr #802 Fort Lauderdale, FL	2.0	2.0	1190	$5,000	$4.20	16d	1	0.95mi
4900 N Ocean Blvd #705 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,750	$3.39	26d	1	0.96mi
4900 N Ocean Blvd #711 Lauderdale by the Sea, FL	2.0	2.0	1700	$4,900	$2.88	20d	1	0.96mi
4900 N Ocean Blvd #1003 Lauderdale by the Sea, FL	2.0	2.0	1450	$4,200	$2.90	26d	1	0.96mi
4900 N Ocean Blvd #517 Lauderdale by the Sea, FL	2.0	2.0	1760	$4,000	$2.27	9d	1	0.96mi

HOA detail condo

• Monthly dues: $795 · $9,540/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $399,000 Active 69 DOM
2. 2026-06-18
   days on market $399,000 Active 66 DOM
3. 2026-06-17
   days on market $399,000 Active 65 DOM
4. 2026-06-16
   days on market $399,000 Active 64 DOM
5. 2026-06-15
   days on market $399,000 Active 63 DOM
6. 2026-06-13
   days on market $399,000 Active 61 DOM
7. 2026-06-09
   days on market $399,000 Active 57 DOM
8. 2026-06-08
   days on market $399,000 Active 56 DOM
9. 2026-06-07
   days on market $399,000 Active 55 DOM
10. 2026-06-04
    days on market $399,000 Active 52 DOM
11. 2026-06-03
    days on market $399,000 Active 51 DOM
12. 2026-06-02
    days on market $399,000 Active 50 DOM
13. 2026-06-01
    days on market $399,000 Active 49 DOM
14. 2026-05-31
    days on market $399,000 Active 48 DOM
15. 2026-05-15
    price $399,000
16. 2026-04-13
    listed $425,000 Active
17. 2020-12-29
    soldstatus $280,000
18. 2020-12-28
    soldstatus $280,000 Closed 542-char remark

    Show marketing remark (542 chars)

    Spectacular location in the desirable neighborhood of Coral Ridge. Less than one mile to the beach, shopping and great restaurants. Unit is located on the TOP (7th) floor with balcony overlooking beautiful city views and tranquil views of the waterway. Spacious open floor plan with 2 large bedrooms with walk-in closet and 2 full baths. Enjoy Resort Style living by the beautifully kept Heated Pool with intracoastal views, Community Room with Kitchen, Guest Parking and Vehicle Wash Area. Dock Space can be rented when it becomes available.

19. 2020-11-19
    historical Active Under Contract 542-char remark

    Show marketing remark (542 chars)

    Spectacular location in the desirable neighborhood of Coral Ridge. Less than one mile to the beach, shopping and great restaurants. Unit is located on the TOP (7th) floor with balcony overlooking beautiful city views and tranquil views of the waterway. Spacious open floor plan with 2 large bedrooms with walk-in closet and 2 full baths. Enjoy Resort Style living by the beautifully kept Heated Pool with intracoastal views, Community Room with Kitchen, Guest Parking and Vehicle Wash Area. Dock Space can be rented when it becomes available.

20. 2020-11-08
    price $299,999 542-char remark

    Show marketing remark (542 chars)

    Spectacular location in the desirable neighborhood of Coral Ridge. Less than one mile to the beach, shopping and great restaurants. Unit is located on the TOP (7th) floor with balcony overlooking beautiful city views and tranquil views of the waterway. Spacious open floor plan with 2 large bedrooms with walk-in closet and 2 full baths. Enjoy Resort Style living by the beautifully kept Heated Pool with intracoastal views, Community Room with Kitchen, Guest Parking and Vehicle Wash Area. Dock Space can be rented when it becomes available.

21. 2020-10-12
    listed $320,000 Active 542-char remark

    Show marketing remark (542 chars)

    Spectacular location in the desirable neighborhood of Coral Ridge. Less than one mile to the beach, shopping and great restaurants. Unit is located on the TOP (7th) floor with balcony overlooking beautiful city views and tranquil views of the waterway. Spacious open floor plan with 2 large bedrooms with walk-in closet and 2 full baths. Enjoy Resort Style living by the beautifully kept Heated Pool with intracoastal views, Community Room with Kitchen, Guest Parking and Vehicle Wash Area. Dock Space can be rented when it becomes available.

22. 1988-04-08
    soldstatus $90,000
23. 1988-04-01
    soldstatus $90,000
24. 1973-05-01
    soldstatus $39,900

ⓘ 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: $2,255 · $188/mo
• Projected year-2 tax: $3,312 · $276/mo
• Expected delta: +$1,056/yr (+$88/mo · 46.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 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: $47,798
• − Mortgage interest: −$22,350
• − Property taxes: −$2,255
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,824
• − Management: −$3,824
• − HOA: −$9,540
• − Depreciation: −$11,607
• Taxable loss: −$7,598
• Est. tax savings @ 24.0%: +$1,823
• After-tax cash flow: $684/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): 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

+900.0% since first listed

10 events — show timeline

• 2026-05-15 Price Changed $399,000 Beaches MLS
• 2026-04-13 Listed $425,000 Beaches MLS
• 2020-12-29 Sold (Public Records) $280,000 Public Records
• 2020-12-28 Sold (MLS) $280,000 MARMLS
• 2020-11-19 Contingent — MARMLS
• 2020-11-08 Price Changed $299,999 MARMLS
• 2020-10-12 Listed $320,000 MARMLS
• 1988-04-08 Sold (Public Records) $90,000 Public Records
• 1988-04-01 Sold (Public Records) $90,000 Public Records
• 1973-05-01 Sold (Public Records) $39,900 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,255 · +7.4% YoY. Source: county tax records.