2230 NE 56th Pl #223 · Fort Lauderdale, FL 33308

$199,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 45 Days on market

Built 1970 $728/mo HOA · 20% of rent

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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 +28.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2 bedroom, 2 bath condo situated in the Imperial Point neighborhood. Enjoy a prime location within walking distance to parks, dining, shopping, & everyday conveniences, while the beach is only a short bike ride or drive away. This 2nd floor condo faces a residential street with sidewalks throughout the neighborhood, featuring stainless steel appliances, updated vinyl flooring, and plantation shutters. This is one of the largest floor plans. Basic cable & Internet included in HOA. Leasing allowed after 2 years. Residents have access to amenities including a heated pool, clubhouse, billiards room, BBQ/picnic areas, laundry facilities, and additional storage space. Associat

Key facts

• Clubhouse
• Plantation shutters
• Heated pool

Tags

• WALKING DISTANCE TO PARKS
• STAINLESS STEEL APPLIANCES
• UPDATED VINYL FLOORING
• PLANTATION SHUTTERS
• HEATED POOL
• CLUBHOUSE

Property features AI

Finance

• Financial info: No land lease; Pets not allowed
• HOA & community: Monthly HOA with laundry, parking, and pool amenities; HOA covers cable TV, insurance, internet, grounds maintenance, sewer, trash, common areas, reserves, and pool service

Exterior

• Parking: Assigned open parking (1 space)
• Security: Closed-circuit cameras; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Water connected
• Home design: Condominium; Two-level unit; North-facing
• Construction: Stucco and concrete block with stucco construction; Built as part of a 2-story building
• Exterior features: Shingle roof; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Trash compactor
• Bedrooms: 2 bedrooms on main level
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; French doors; Furnished
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,665/mo this rent would consume 47% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $199k implies a 66% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1970 — 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: 1.84% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 4.5

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: 6.2%
• Equity multiple: 1.24×
• Total profit: $13,617
• Equity at exit: $29,672

10-year hold

• IRR: 16.5%
• Equity multiple: 2.42×
• Total profit: $79,216
• Equity at exit: $17,206

Cash invested: $55,720 (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: 4.5×

Monthly cashflow live

• Estimated rent: $3,665 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$366 /mo · $4,397/yr
• Insurance: −$83
• HOA: −$728
• Vacancy / Maint / Mgmt: −$770
• Net cashflow: $674

Break-even live

Break-even rent $2,811

Max offer price $199,000

Occupancy floor 77%

Sensitivity live

Price	-10% $787	-5% $731	+0% $674	+5% $618	+10% $562
Rent	-10% $385	-5% $530	+0% $674	+5% $819	+10% $964
Rate	-1.0pp $775	-0.5pp $725	base $674	+0.5pp $623	+1.0pp $570

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	26d	1	0.19mi
2169 Imperial Point Dr Fort Lauderdale, FL	2.0	2.0	1300	$4,200	$3.23	26d	1	0.34mi
3111 NE 51st St Unit 301 Fort Lauderdale, FL	2.0	2.0	1300	$3,800	$2.92	26d	1	0.69mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	0d	15	0.75mi
4800 Bayview Dr #303 Fort Lauderdale, FL	2.0	2.0	1032	$3,500	$3.39	26d	1	0.77mi
6299 Bay Club Dr #4 Fort Lauderdale, FL	2.0	2.0	1200	$4,900	$4.08	26d	1	0.78mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	26d	1	0.82mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	20d	1	0.87mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	23d	1	0.87mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,774	$2.54	0d	16	0.88mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	12d	1	0.91mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	5d	1	0.91mi
4619 Poinciana St Unit 2A Lauderdale by the Sea, FL	3.0	2.5	1452	$3,900	$2.69	17d	1	0.93mi
4511 Seagrape Dr Lauderdale by the Sea, FL	2.0	2.0	1218	$3,500	$2.87	26d	1	0.93mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	26d	1	0.96mi
233 Commercial Blvd Unit 1541802P Lauderdale-By-The-Sea, FL	2.0	2.0	1291	$3,876	$3.00	4d	1	1.00mi
2100 NE 45th St #1 Fort Lauderdale, FL	3.0	3.5	1340	$9,500	$7.09	26d	1	1.02mi
2321 SE 15th St Unit 2321 Pompano Beach, FL	3.0	2.0	1313	$6,100	$4.65	26d	1	1.09mi
4540 N Ocean Dr #210 Lauderdale by the Sea, FL	2.0	2.0	1450	$5,500	$3.79	26d	1	1.10mi
4900 N Ocean Blvd #1405 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,250	$3.04	26d	1	1.11mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	26d	1	1.11mi
4900 N Ocean Blvd #1003 Lauderdale by the Sea, FL	2.0	2.0	1450	$4,200	$2.90	26d	1	1.11mi
4900 N Ocean Blvd #705 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,750	$3.39	26d	1	1.11mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	16d	1	1.11mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1458	$3,700	$2.54	6d	1	1.13mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1396	$3,950	$2.83	26d	2	1.13mi
5000 N Ocean Blvd #908 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,940	$2.75	19d	1	1.13mi
5000 N Ocean Blvd #1405 Lauderdale by the Sea, FL	2.0	2.0	1433	$5,250	$3.66	9d	1	1.13mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	26d	1	1.13mi
5000 N Ocean Blvd #703 Lauderdale by the Sea, FL	2.0	2.0	1433	$5,200	$3.63	26d	1	1.13mi
5000 N Ocean Blvd #208 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,400	$2.37	26d	1	1.13mi
5000 N Ocean Blvd #908 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,700	$2.58	4d	1	1.13mi
5100 N Ocean Blvd #1504 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,000	$2.86	4d	1	1.14mi
5100 N Ocean Blvd #1205 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,900	$2.79	26d	1	1.14mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	26d	1	1.14mi
5100 N Ocean Blvd #804 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,800	$2.71	26d	1	1.14mi
4764 NE 15th Way Oakland Park, FL	3.0	2.0	1218	$3,500	$2.87	26d	1	1.15mi
5200 N Ocean Blvd Unit 914A Lauderdale by the Sea, FL	2.0	2.0	1450	$5,000	$3.45	26d	1	1.15mi
5200 N Ocean Blvd Unit 203B Lauderdale by the Sea, FL	2.0	2.0	1330	$3,200	$2.41	26d	1	1.15mi
5400 N Ocean Blvd Lauderdale by the Sea, FL	2.0–3.0	2.5	1631	$3,800	$2.33	6d	2	1.16mi

HOA detail condo

• Monthly dues: $728 · $8,736/yr
• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $199,000 Active 45 DOM
2. 2026-06-18
   days on market $199,000 Active 42 DOM
3. 2026-06-17
   days on market $199,000 Active 41 DOM
4. 2026-06-16
   days on market $199,000 Active 40 DOM
5. 2026-06-15
   days on market $199,000 Active 39 DOM
6. 2026-06-13
   days on market $199,000 Active 37 DOM
7. 2026-06-09
   days on market $199,000 Active 33 DOM
8. 2026-06-08
   days on market $199,000 Active 32 DOM
9. 2026-06-07
   days on market $199,000 Active 31 DOM
10. 2026-06-04
    days on market $199,000 Active 28 DOM
11. 2026-06-03
    days on market $199,000 Active 27 DOM
12. 2026-06-02
    days on market $199,000 Active 26 DOM
13. 2026-06-01
    days on market $199,000 Active 25 DOM
14. 2026-05-31
    days on market $199,000 Active 24 DOM
15. 2026-05-07
    listed $199,000 Active
16. 2018-03-29
    soldstatus $120,000
17. 2013-10-29
    soldstatus $115,000
18. 1985-05-01
    soldstatus $49,000

ⓘ 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: $4,397 · $366/mo
• Projected year-2 tax: $4,397 · $366/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $43,979
• − Mortgage interest: −$11,147
• − Property taxes: −$4,397
• − Insurance: −$995
• − Repairs & maintenance: −$3,518
• − Management: −$3,518
• − HOA: −$8,736
• − Depreciation: −$5,789
• Taxable income: $5,878
• Est. tax owed @ 24.0%: −$1,411
• After-tax cash flow: $6,682/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

+306.1% since first listed

4 events — show timeline

• 2026-05-07 Listed $199,000 Beaches MLS
• 2018-03-29 Sold (Public Records) $120,000 Public Records
• 2013-10-29 Sold (Public Records) $115,000 Public Records
• 1985-05-01 Sold (Public Records) $49,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $4,397 · -6.0% YoY. Source: county tax records.