2175 NE 56th St #209 · Fort Lauderdale, FL 33308

$175,000

3 bd · 2.0 ba · 960 sqft · Condo public records · 16 Days on market

Built 1964 $650/mo HOA · 16% 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 +30.0/30.0
• 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

Welcome to this 3 bedroom, 2 bath condo in the Doria Condo community of Imperial Point! A unique find for the area, this spacious unit is mostly original and priced to sell, offering the perfect canvas to renovate and build equity or secure a high-demand investment property that can be rented right away. Enjoy peace of mind knowing the building has already completed its 40-year inspection, featuring a newer roof and fresh exterior paint. Residents enjoy the community pool, convenient on-site laundry facilities and one assigned parking space. All of this is situated in a prime location just minutes away from local shopping, dining, and the beach. Don't miss this incredible value and unlock t

Key facts

• $650 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Condo association with monthly fee; HOA includes maintenance (grounds & structure), sewer, trash, water, and common area maintenance; Community amenities: Pool, Laundry; Monthly HOA fee: $650

Exterior

• Parking: Assigned parking; Guest parking (total spaces: 1)
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; One level; South-facing; Doria Condo (building name)
• Construction: CBS construction
• Exterior features: Not waterfront; Shingle roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Tile; Other
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Electric range; Refrigerator; Common laundry area
• Laundry & utility: Shared laundry in common area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $4,014/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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $175k implies a 600% 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 $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — 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 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?
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: 2.29% ✓
• Cap rate: 14.61%
• Cash-on-cash: 29.71%
• DSCR: 2.32
• GRM: 3.6

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: 25.3%
• Equity multiple: 2.06×
• Total profit: $51,989
• Equity at exit: $26,093

10-year hold

• IRR: 33.7%
• Equity multiple: 4.21×
• Total profit: $157,520
• Equity at exit: $15,131

Cash invested: $49,000 (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: 3.6×

Monthly cashflow live

• Estimated rent: $4,014 high
• Mortgage (P&I): −$918
• Tax from tax record: −$317 /mo · $3,806/yr
• Insurance: −$73
• HOA: −$650
• Vacancy / Maint / Mgmt: −$843
• Net cashflow: $1,213

Break-even live

Break-even rent $2,478

Max offer price $175,000

Occupancy floor 65%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 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	0.79mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$3,345	$3.03	2d	16	0.86mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$3,279	$3.00	2d	17	1.00mi
160 SE 12th St Pompano Beach, FL	2.0	2.0	950	$5,390	$5.67	24d	1	1.27mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$4,469	$3.80	1d	40	1.32mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	22d	1	1.39mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	3d	1	1.39mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	24d	1	1.43mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1000	$6,500	$6.50	2d	3	1.44mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	17d	4	1.44mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	20d	3	1.44mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,750	$3.22	20d	3	1.46mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,800	$3.26	7d	2	1.46mi
1156 SW 4th Ave Pompano Beach, FL	2.0	1.0	945	$3,300	$3.49	5d	1	1.46mi

HOA detail condo

• Monthly dues: $650 · $7,800/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $175,000 Active 16 DOM
2. 2026-06-17
   days on market $175,000 Active 15 DOM
3. 2026-06-16
   days on market $175,000 Active 14 DOM
4. 2026-06-15
   days on market $175,000 Active 13 DOM
5. 2026-06-13
   days on market $175,000 Active 11 DOM
6. 2026-06-09
   days on market $175,000 Active 7 DOM
7. 2026-06-08
   days on market $175,000 Active 6 DOM
8. 2026-06-07
   days on market $175,000 Active 5 DOM
9. 2026-06-04
   days on market $175,000 Active 2 DOM
10. 2026-06-03
    remarks 699-char remark
11. 2026-06-03
    listed $175,000 Active 1 DOM

ⓘ 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: $3,806 · $317/mo
• Projected year-2 tax: $3,806 · $317/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 3/10 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: $48,167
• − Mortgage interest: −$9,803
• − Property taxes: −$3,806
• − Insurance: −$875
• − Repairs & maintenance: −$3,853
• − Management: −$3,853
• − HOA: −$7,800
• − Depreciation: −$5,091
• Taxable income: $13,085
• Est. tax owed @ 24.0%: −$3,140
• After-tax cash flow: $11,417/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

+250.0% since first listed

3 events — show timeline

• 2026-06-02 Listed $175,000 Beaches MLS
• 1985-12-01 Sold (Public Records) $25,000 Public Records
• 1983-12-01 Sold (Public Records) $50,000 Public Records

Property tax history

+13.4%/yr

Latest (2025): $3,806 · +11.1% YoY. Source: county tax records.