700 SW 16th Ave · Fort Lauderdale, FL 33312

$995,000

16 bd · 8.0 ba · 3,047 sqft · MultiFamily · 305 Days on market

Built 1970

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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 +10.7/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Rare investment opportunity in Fort Lauderdale — a 4-unit apartment complex at 700 SW 16th Ave. This 3,047 SF building on a spacious 10,000 SF lot includes four large and spacious 2-bedroom, 1-bath units. Each unit features central AC and individual electric meters. The property currently generates $6,700 in monthly rental income, with strong upside potential to increase rents to approximately $8,800 per month when adjusted to market rates. Ideally located minutes from I-95, Fort Lauderdale-Hollywood International Airport, downtown, and the beach, this property offers excellent access and sits in one of South Florida’s fastest-growing markets.

Key facts

• Central ac
• Excellent access
• 8 parking spots

Tags

• 4 UNIT APARTMENT COMPLEX
• CENTRAL AC
• INDIVIDUAL ELECTRIC METERS
• MONTHLY RENTAL INCOME
• EXCELLENT ACCESS

Property features AI

Finance

• Financial info: Multiple leased units with actual rents reported (examples: $1,650; $1,675; $1,700); Rent includes gardener, hot water, pest control, sewer, trash collection and water

Exterior

• Parking: Total of 8 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Less than quarter-acre lot; Zoned RM-15

Interior

• Bedrooms: Multiple 2-bedroom units (several units with 2 beds each)
• Flooring: Tile; Vinyl
• Bathrooms: Multiple units with 1 full bathroom each
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile and vinyl flooring

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $995k.

Deal economics

• At list price, monthly cash flow is $-471 ($-6k/yr) — negative. Per door: $-118/mo.
• To cash-flow at today's rent, offer at most $927k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $811k (18.5% below list).
• Recommended offer: $811k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Market conditions: Rents rising (+1.3%/yr); 412 active listings in the ZIP; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $8,108/mo this rent would consume 128% of the median local household income ($76k/yr) (locally 1903% 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 $7k of loan paydown is wiped out by about $30k 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 305 days — a 12% lower offer ($876k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $105k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $810,800 (18.5% 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 305 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.3% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.27×
• Total profit: $-204,741
• Equity at exit: $148,358

10-year hold

• IRR: -19.8%
• Equity multiple: 0.03×
• Total profit: $-270,490
• Equity at exit: $86,029

Cash invested: $278,600 (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 33312

• Rents YoY: 1.3%
• Active inventory: 412
• Price-to-rent: 40.9×

Monthly cashflow live

• Estimated rent: $8,108 high
• Mortgage (P&I): −$5,218
• Tax est. 1.5%: −$1,244 /mo · $14,925/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,703
• Net cashflow: $-471

Break-even live

Break-even rent $8,704

Max offer price $926,860

Occupancy floor —

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,108
Total (4 units)			$8,108

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $995,000 Active 305 DOM
2. 2026-06-17
   days on market $995,000 Active 304 DOM
3. 2026-06-16
   days on market $995,000 Active 303 DOM
4. 2026-06-15
   days on market $995,000 Active 302 DOM
5. 2026-06-13
   days on market $995,000 Active 300 DOM
6. 2026-06-09
   days on market $995,000 Active 296 DOM
7. 2026-06-07
   days on market $995,000 Active 294 DOM
8. 2026-06-04
   days on market $995,000 Active 291 DOM
9. 2026-06-03
   days on market $995,000 Active 290 DOM
10. 2026-06-02
    days on market $995,000 Active 289 DOM
11. 2026-06-01
    days on market $995,000 Active 288 DOM
12. 2026-05-31
    days on market $995,000 Active 287 DOM
13. 2025-10-27
    price $995,000
14. 2025-09-03
    price $1,050,000
15. 2025-08-17
    listed $1,100,000 Active
16. 2024-01-07
    historical $1,600
17. 2023-12-21
    price $1,600
18. 2023-10-27
    listed $1,700

ⓘ 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) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,296
• − Mortgage interest: −$55,735
• − Property taxes: −$14,925
• − Insurance: −$4,975
• − Repairs & maintenance: −$7,784
• − Management: −$7,784
• − Depreciation: −$28,945
• Taxable loss: −$22,852
• Est. tax savings @ 24.0%: +$5,485
• After-tax cash flow: $-166/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): 52,798
• Household income: $75,952
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1903.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 34% Hispanic / Latino 32% Black 29% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 6% Salvadoran 1%
• Common ancestry: Hispanic 6% Romanian 3% Italian 1%
• Foreign-born: 33% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 29% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -323.99%
• Current HPI: 382.6298
• Rent YoY: ▲ 1.30%
• 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

+58429.4% since first listed

6 events — show timeline

• 2025-10-27 Price Changed $995,000 MARMLS
• 2025-09-03 Price Changed $1,050,000 MARMLS
• 2025-08-17 Listed $1,100,000 MARMLS
• 2024-01-07 Rental Removed $1,600 APPFOLIO
• 2023-12-21 Price Changed $1,600 APPFOLIO
• 2023-10-27 Listed for Rent $1,700 APPFOLIO