5232 NE 6th Ave Unit E24 · Oakland Park, FL 33334

$187,700

2 bd · 2.0 ba · 920 sqft · Condo · 27 Days on market

Built 1973 Good condition $797/mo HOA · 24% 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 +26.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience modern living in this stylish 2-bedroom, 2-bath condo at Embarcadero. With a split floor plan for privacy, it features an open living space with an updated kitchen with quartz countertops, stainless steel appliances, and ample storage. The primary suite has a walk-in closet and en-suite bath, while the second bedroom is perfect for guests or as a home office. The living area under air has been expanded with the added floor to ceiling impact windows bringing the lanai area under A/C. You also have an outdoor patio area looking to the pool. Home also has a full-size stackable washer/dryer. Two pools, fitness center, 24-hour security, parking right outside your door. Embarcadero is

Key facts

• Quartz countertops
• Split floor plan
• Open living space

Tags

• SPLIT FLOOR PLAN
• OPEN LIVING SPACE
• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• AMPLE STORAGE

Property features AI

Finance

• Other: No land lease
• HOA & community: Association: The Embarcadero Condominium Association; Monthly HOA fee includes insurance, grounds & structure maintenance, sewer, trash, water, common areas, roof repairs, pool service; Community amenities: Clubhouse, Fitness Center, Picnic Area, Parking, Pool, Maintenance; Pets allowed (cats and dogs; size limit applies); Community size: 276 units

Exterior

• Parking: Assigned parking; Guest parking; Asphalt parking surfaces; 1 open parking space (community total: 269 spaces)
• Security: Security guard; Security fence; Smoke detector(s)
• Utilities: Public water; Public sewer; 100 Amp electric service; Cable available/connected; Phone available; Water connected; Sewer connected
• Home design: Condominium; One level (entry level 1); Facing south; Resale; updated/remodeled
• Construction: CBS construction; Flat roof; Slab foundation; Built as part of a 2-story building
• Exterior features: Open patio; Glass-enclosed patio; Patio; Fenced; Asphalt road surface; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $188k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Recommended offer: $185k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.8% in Oakland Park — 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 77/100 on livability (#193 in FL, #3,082 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: North Andrews Gardens Elementary School (math 40% / reading 48%, grade F, #1,330 of 2,144 statewide, top 63%, 780 students, 77% FRL); James S. Rickards Middle School (math 18% / reading 31%, grade F, #522 of 571 statewide, top 93%, 755 students, 75% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL) — zoned schools average 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.0%/yr); 357 active listings in the ZIP; 11 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 $3,298/mo this rent would consume 53% of the median local household income ($75k/yr) (locally 1755% 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $184,884 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.76% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-548
• Equity at exit: $27,987

10-year hold

• IRR: 8.1%
• Equity multiple: 1.58×
• Total profit: $30,580
• Equity at exit: $16,229

Cash invested: $52,556 (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 33334

• Home prices YoY: -34.6%
• Rents YoY: 2.0%
• Active inventory: 357
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,298 high
• Mortgage (P&I): −$984
• Tax est. 1.5%: −$235 /mo · $2,816/yr
• Insurance: −$78
• HOA: −$797
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $512

Break-even live

Break-even rent $2,651

Max offer price $187,700

Occupancy floor 79%

Sensitivity live

Price	-10% $641	-5% $576	+0% $512	+5% $447	+10% $382
Rent	-10% $251	-5% $381	+0% $512	+5% $642	+10% $772
Rate	-1.0pp $606	-0.5pp $559	base $512	+0.5pp $463	+1.0pp $413

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: $46,925
• Closing costs: $5,631
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5365 N Andrews Ave Fort Lauderdale, FL	3.0	2.0	1016	$3,500	$3.44	25d	1	0.60mi
4601 NE 4th Ave Unit 1261561P Fort Lauderdale, FL	3.0	2.0	1097	$4,430	$4.04	25d	1	0.61mi
540 NE 59th Ct Fort Lauderdale, FL	3.0	2.0	964	$3,400	$3.53	25d	1	0.62mi
5841 NE 3rd Ave Fort Lauderdale, FL	3.0	2.0	834	$3,200	$3.84	25d	1	0.62mi
261 NE 45th St Fort Lauderdale, FL	3.0	2.0	997	$3,247	$3.26	25d	1	0.74mi
351 NE 41st St Oakland Park, FL	2.0	1.0	900	$3,400	$3.78	25d	1	1.00mi
6500 N Andrews Ave Fort Lauderdale, FL	2.0	1.0–2.0	943	$3,137	$3.33	0d	31	1.11mi
3801 Dixie Hwy Oakland Park, FL	2.0	1.0–2.0	944	$3,584	$3.80	0d	41	1.28mi
3781 NE 13th Ave Oakland Park, FL	2.0	1.0	869	$3,900	$4.49	25d	1	1.34mi
331 NW 38th St Oakland Park, FL	2.0	1.5	1040	$3,900	$3.75	9d	1	1.44mi
331 NW 38th St Oakland Park, FL	2.0	1.5	1040	$3,900	$3.75	18d	1	1.44mi

HOA detail condo

• Monthly dues: $797 · $9,564/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-19
   status Pending
2. 2026-04-21
   listed $187,700 Active

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% 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: $39,580
• − Mortgage interest: −$10,514
• − Property taxes: −$2,816
• − Insurance: −$938
• − Repairs & maintenance: −$3,166
• − Management: −$3,166
• − HOA: −$9,564
• − Depreciation: −$5,460
• Taxable income: $3,955
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $5,189/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 · 12 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 2-bath condo at Embarcadero is in good condition with cosmetic updates needed for a fresh look and improved curb appeal.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace ceiling fans — Modern ceiling fans improve air circulation and aesthetics
• Both Update light fixtures — Modern light fixtures enhance the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace ceiling fans — Modern ceiling fans improve air circulation and aesthetics ↑
• Both Update light fixtures — Modern light fixtures enhance the home's curb appeal and interior aesthetics ↑

ⓘ 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 — Oakland Park

• Score: 77/100
• State rank: #193
• US rank: #3082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland Park, FL
• County: Broward County · 1,963,430 people
• City population: 235,769
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,935
• Household income: $75,361
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1755.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 32% Two or more races 25% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 5% Lithuanian 3% Romanian 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 59% English-only · Spanish 28% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -208.58%
• Current HPI: 394.9526
• Rent YoY: ▲ 2.01%
• 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

2 events — show timeline

• 2026-05-19 Pending — Beaches MLS
• 2026-04-21 Listed $187,700 Beaches MLS