5201 NE 24 Unit A-203 · Fort Lauderdale, FL
Flood risk No data
- FEMA flood zone
- —
- Chance of flooding over 30 yrs
- —
- Est. flood insurance / yr
- —
Fire risk No data
- Est. fire insurance / yr
- —
Heat risk No data
- Hot days now (above threshold)
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- Hot days in 30 yrs
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Wind risk No data
- Chance of severe wind over 30 yrs
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Air-quality risk No data
- Unhealthy air days now
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- Unhealthy air days in 30 yrs
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Risk factors via First Street. Map © Google.
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
- ARV discount +14.8/15.0
- 1% rule +10.0/10.0
- DSCR +10.0/10.0
- Livability +4.1/5.0
- Schools +3.9/10.0
- Condition / age +3.8/5.0
- Rent growth +3.4/5.0
- Appreciation +0.0/10.0
$139,000
5201 NE 24 Unit A-203 · Fort Lauderdale, FL 33308
1 bd · 1.0 ba · 650 sqft · Condo
public records
· 121 Days on market
Built 1966
$214/sqft
· 16% below area
Est $166k · 16% under
$440/mo HOA · 16% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks MLS
WONDERFUL AREA CLOSE TO BEACH, SHOPPING AND RESTAURANTS! UNIT HAS NEWE APPLIANCES. CURRENTLY OCCUPIED BY TENNENT, LEASE EXPIRES 1/2006. GREAT OPPORTUNITY FOR INVESTOR!
Key facts
- Tile floor
- Stainless appliances
- Shaker cabinets
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 1-bed/1.0-bath condo listed at $139k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $685 ($8k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($3k rent vs $139k).
- Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
- Cap rate 12.2% vs local median 2.1% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
- Market conditions: Rents rising (+3.6%/yr); 881 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
- This rent runs 35% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Forward outlook
- Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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 + 3.6% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
Negotiation context
- It's been on market 121 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
- 4 sale attempts since 21y ago; this cycle's ask is 8076% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
Recommended offer
$122,320
(12.0% below list)
Questions for the listing agent
- It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
- Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- 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?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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.
- 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.
- 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
- 1.97% ✓
- Cap rate
- 12.21%
- Cash-on-cash
- 21.12%
- DSCR
- 1.94
- GRM
- 4.2
CMA / ARV
- ARV (median comp)
- $165,901
- List price
- $139,000
- Delta
- -16.21%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 6263 NE 19th Ave #1027 | 1.13mi | 1/1.0 | 650 (0%) | 2mo | $85,000 | $131 | 63 |
| 1821 NE 62nd St #424 | 1.03mi | 1/1.0 | 650 (0%) | 3mo | $68,000 | $105 | 63 |
| 1821 NE 62nd St #326 | 1.03mi | 1/1.5 | 650 (0%) | 1mo | $75,000 | $115 | 62 |
| 4050 N Ocean Dr #1208 | 1.14mi | 1/1.0 | 660 (+2%) | 2mo | $269,000 | $408 | 61 |
| 224 Hibiscus Ave #151 | 1.00mi | 1/1.0 | 640 (-2%) | 2mo | $190,000 | $297 | 60 |
| 6200 NE 22nd Way #305 | 0.90mi | 1/1.0 | 610 (-6%) | 3mo | $145,000 | $238 | 52 |
| 4051 NE 13th Ave Unit 78-3 | 1.47mi | 1/1.0 | 600 (-8%) | 1mo | $139,200 | $232 | 52 |
| 4025 N Federal Hwy Unit 213B | 1.10mi | 1/1.5 | 775 (+19%) | 0mo | $175,000 | $226 | 38 |
| 4025 N Federal Hwy Unit 313 Bldg A | 1.10mi | 1/1.5 | 775 (+19%) | 0mo | $150,000 | $194 | 38 |
| 2220 NE 68 St #1007 | 1.28mi | 1/1.5 | 756 (+16%) | 0mo | $137,500 | $182 | 38 |
| 2201 NE 66th St #1306 | 1.20mi | 1/1.5 | 756 (+16%) | 0mo | $142,500 | $188 | 38 |
| 4025 N Federal Hwy N Unit 215a | 1.10mi | 1/1.5 | 775 (+19%) | 1mo | $208,000 | $268 | 37 |
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 · 3.63% rent growth · sell at horizon
5-year hold
- IRR
- 14.7%
- Equity multiple
- 1.60×
- Total profit
- $23,204
- Equity at exit
- $20,725
10-year hold
- IRR
- 24.2%
- Equity multiple
- 3.19×
- Total profit
- $85,095
- Equity at exit
- $12,018
Cash invested: $38,920 (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.
Active competition Active MLS
- For sale now
- 1 active
- Median asking
- $119,000 ($183/sqft)
- Median days on market
- 76 d
- This list price
- 100% of active listings are priced below it
- ARV vs active asking
- +39.4% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 33308
- Rents YoY
- 3.6%
- Active inventory
- 881
- Price-to-rent
- 4.2×
Monthly cashflow live
↻
- Estimated rent
- $2,738 medium interval (Pro) →
- Mortgage (P&I)
- −$729
- Tax from tax record
- −$251 /mo · $3,014/yr
- Insurance
- −$58
- HOA
- −$440
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$575
- Net cashflow
- $685
Break-even live
Break-even rent
$1,871
Max offer price
$139,000
Occupancy floor
70%
Sensitivity live
| Price | -10% $764 | -5% $724 | +0% $685 | +5% $646 | +10% $606 |
|---|---|---|---|---|---|
| Rent | -10% $469 | -5% $577 | +0% $685 | +5% $793 | +10% $901 |
| Rate | -1.0pp $755 | -0.5pp $720 | base $685 | +0.5pp $649 | +1.0pp $612 |
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
- $34,750
- Closing costs
- $4,170
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 2 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 4564 El Mar Dr #4 Lauderdale by the Sea, FL | 1.0 | 1.0 | 566 | $3,500 | $6.18 | 66d | 1 | 1.14mi |
| 4010 Galt Ocean Dr Fort Lauderdale, FL | 2.0–3.0 | 2.0 | 810 | $3,200 | $3.95 | 53d | 3 | 1.42mi |
Property features AI
Finance
- HOA & community
- Community includes fitness center and poolMonthly HOA fee of 440HOA covers insurance, grounds maintenance, building maintenance, sewer, trash, water, common areas, and hot water
Exterior
- Parking
- Assigned parkingGuest parking
- Utilities
- Has heating and cooling
- Home design
- CondominiumSecond-floor entry3-story buildingResale conditionEast of US-1 locationNot waterfront
- Construction
- CBS construction
- Exterior features
- Open porchPorch
Interior
- Kitchen
- Disposal
- Bedrooms
- 1 bedroom on the main level
- Flooring
- Tile
- Bathrooms
- 1 full bathroom on the main level
- Heating & cooling
- Central heatingElectric cooling
- Interior features
- DisposalTile flooring
HOA detail $440/mo · $5,280/yr condo
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 36 events
-
2026-07-10days on market $139,000 Active 121 DOM
-
2026-07-10days on market $139,000 Active 120 DOM
-
2026-07-07days on market $139,000 Active 118 DOM
-
2026-07-06days on market $139,000 Active 117 DOM
-
2026-07-06days on market $139,000 Active 116 DOM
-
2026-07-03days on market $139,000 Active 114 DOM
-
2026-07-02days on market $139,000 Active 113 DOM
-
2026-07-01days on market $139,000 Active 112 DOM
-
2026-06-30days on market $139,000 Active 111 DOM
-
2026-06-29days on market $139,000 Active 110 DOM
-
2026-06-28days on market $139,000 Active 109 DOM
-
2026-06-27days on market $139,000 Active 108 DOM
-
2026-06-26days on market $139,000 Active 107 DOM
-
2026-06-24days on market $139,000 Active 105 DOM
-
2026-06-22days on market $139,000 Active 103 DOM
-
2026-06-21days on market $139,000 Active 102 DOM
-
2026-06-18days on market $139,000 Active 99 DOM
-
2026-06-17days on market $139,000 Active 98 DOM
-
2026-06-16days on market $139,000 Active 97 DOM
-
2026-06-15days on market $139,000 Active 96 DOM
-
2026-06-13pricedays on market $139,000 Active 94 DOM
-
2026-06-09days on market $150,000 Active 90 DOM
-
2026-06-07days on market $150,000 Active 88 DOM
-
2026-06-04days on market $150,000 Active 85 DOM
-
2026-06-03days on market $150,000 Active 84 DOM
-
2026-06-02days on market $150,000 Active 83 DOM
-
2026-06-01days on market $150,000 Active 82 DOM
-
2026-05-31days on market $150,000 Active 81 DOM
-
2026-05-13$1,700
-
2026-04-23status Active
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2026-03-29historical Active Under Contract
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2026-02-12$150,000 Active
-
2005-05-06soldstatus $138,000
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2005-04-28soldstatus $138,000 167-char remark
Show marketing remark (167 chars)
WONDERFUL AREA CLOSE TO BEACH, SHOPPING AND RESTAURANTS! UNIT HAS NEWE APPLIANCES. CURRENTLY OCCUPIED BY TENNENT, LEASE EXPIRES 1/2006. GREAT OPPORTUNITY FOR INVESTOR!
-
2005-03-26historical 167-char remark
Show marketing remark (167 chars)
WONDERFUL AREA CLOSE TO BEACH, SHOPPING AND RESTAURANTS! UNIT HAS NEWE APPLIANCES. CURRENTLY OCCUPIED BY TENNENT, LEASE EXPIRES 1/2006. GREAT OPPORTUNITY FOR INVESTOR!
-
2005-03-18$135,000 167-char remark
Show marketing remark (167 chars)
WONDERFUL AREA CLOSE TO BEACH, SHOPPING AND RESTAURANTS! UNIT HAS NEWE APPLIANCES. CURRENTLY OCCUPIED BY TENNENT, LEASE EXPIRES 1/2006. GREAT OPPORTUNITY FOR INVESTOR!
ⓘ 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
- $3,014 · $251/mo
- Projected year-2 tax
- $3,014 · $251/mo
- Expected delta
- $0/yr ($0/mo · 0.0%)
ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $32,854
- − Mortgage interest
- −$7,786
- − Property taxes
- −$3,014
- − Insurance
- −$695
- − Repairs & maintenance
- −$2,628
- − Management
- −$2,628
- − HOA
- −$5,280
- − Depreciation
- −$4,044
- Taxable income
- $6,779
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$1,627
- After-tax cash flow
- $6,592/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 · 9 photos
75/100
Cosmetic rehab
Est. rehab $3,250–$9,750 screening
This turn-key condo is in good condition with updated kitchen and fresh paint. It offers a good investment opportunity with low maintenance and a desirable location.
Components & finishes AI
Flooring tile
Counters granite
Appliances stainless steel
Value-add opportunities
- Both Paint exterior — Enhances curb appeal and property value. ↑
- Both Landscaping maintenance — Improves curb appeal and enhances property value. ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 39/100
Zoned Schools
Elementary
Mcnab Elementary School
C+
FL #781/2,144
Nat'l #8,534/41,679
Middle
Pompano Beach Middle School
F
FL #421/571
Nat'l #7,581/14,009
High
Northeast High School
F
FL #505/667
Nat'l #12,478/17,239
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
A
Composite livability gradescore 82/100
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 · 2,207,033 people
- City population
- 235,769
- Metro
- Miami-Fort Lauderdale-Pompano Beach, FL
- Population (ZIP)
- 27,935
- Household income
- $93,879
- Rent vs Own
- Severe rent burden
- 21% of renters
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 |
|
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| Insurance | 2 | $17B |
|
||
| Retail | 1 | $60B |
|
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| Technology Distribution | 1 | $58B |
|
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| Homebuilding | 1 | $35B |
|
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| Technology Manufacturing | 1 | $35B |
|
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Price history
-98.7% since first listed8 events — show timeline
- 2026-05-13 Listed for Rent $1,700 RMLSFL
- 2026-04-23 Relisted — Beaches MLS
- 2026-03-29 Contingent — Beaches MLS
- 2026-02-12 Listed $150,000 Beaches MLS
- 2005-05-06 Sold (Public Records) $138,000 Public Records
- 2005-04-28 Sold (MLS) $138,000 Beaches MLS
- 2005-03-26 Listing Removed — Beaches MLS
- 2005-03-18 Listed $135,000 Beaches MLS
Property tax history
+7.2%/yrLatest (2025): $3,014 · +8.3% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…