8120 SW 24th St #206 · North Lauderdale, FL 33068

$75,000

2 bd · 2.0 ba · 1,300 sqft · Condo public records · 4 Days on market

Built 1973 $757/mo HOA · 36% 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 +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Vintage 2/2 in Excellent Condition – North Lauderdale (55+ Community) Well-maintained, spacious 2-bedroom, 2-bath vintage apartment. The home features a combination of tile and carpet flooring, a screened balcony with shutters, and extra storage for added functionality. The community offers a full suite of amenities including: Heated pool, Tennis courts, Gym, Game room, Clubhouse, Laundry facilities on every floor, Secure building, Assigned parking HOA covers water, fiber-optic cable, and high-speed internet. The building has already completed its 10-year milestone inspection. A wonderful opportunity to live in a quiet, well-kept community with great amenities and a conven

Key facts

• Fitness center
• Screened balcony
• Tennis courts

Tags

• SCREENED BALCONY
• ADDITIONAL STORAGE SPACE
• HEATED POOL
• TENNIS COURTS
• FITNESS CENTER
• GAME ROOM

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, hot water, insurance, laundry, grounds maintenance, structure maintenance, parking, pool(s), trash and water; Association amenities include clubhouse, fitness center, library, pool, storage, tennis courts, elevators and trash service; Senior community

Exterior

• Parking: 1 covered garage space; Guest parking available
• Security: Secured elevator; Intercom
• Utilities: Water included in association; Trash included in association; Hot water included in association; Electric service (heating/cooling are electric)
• Home design: Condominium with attached units; Faces north; Entry on level 2; 4-story building
• Construction: Block construction; Property is resale
• Exterior features: Storm/security shutters; Exterior lighting; Association heated pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Blinds on windows; Breakfast area; Closet cabinetry; Combined living/dining room; Tub with shower
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 13.1% vs local median 4.3% in North 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 76/100 on livability (#230 in FL, #3,635 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: commute C-, employment D, 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.
• Market conditions: Rents soft (-0.7%/yr); 298 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 40% of the median local income ($64k/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 $519 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $75k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $75,000

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. 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.
6. 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.
7. 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: 2.84% ✓
• Cap rate: 13.13%
• Cash-on-cash: 24.41%
• DSCR: 2.09
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.44×
• Total profit: $9,301
• Equity at exit: $11,183

10-year hold

• IRR: 16.1%
• Equity multiple: 2.00×
• Total profit: $21,007
• Equity at exit: $6,485

Cash invested: $21,000 (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 33068

• Rents YoY: -0.7%
• Active inventory: 298
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,127 high
• Mortgage (P&I): −$393
• Tax from tax record: −$71 /mo · $856/yr
• Insurance: −$31
• HOA: −$757
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $427

Break-even live

Break-even rent $1,586

Max offer price $75,000

Occupancy floor 75%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6020 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	4d	3	0.10mi
6020 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	24d	4	0.10mi
5860 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	7d	3	0.11mi
5860 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	24d	2	0.11mi
8103 SW 24th St Unit B-32 North Lauderdale, FL	2.0	2.0	1530	$2,400	$1.57	24d	1	0.14mi
6070 NW 64th Ave #204 Fort Lauderdale, FL	2.0	2.0	880	$1,700	$1.93	3d	1	0.16mi
6051 NW 61st Ave Tamarac, FL	2.0	2.0	965	$1,675	$1.74	15d	2	0.18mi
6300 NW 62nd St Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	2d	3	0.19mi
5713 NW 65th Ter Tamarac, FL	2.0	1.0	884	$2,200	$2.49	24d	1	0.20mi
5718 NW 66th Ave Unit n/a Tamarac, FL	2.0	1.0	1118	$2,700	$2.42	24d	1	0.22mi
6161 NW 57th Ct #103 Tamarac, FL	2.0	2.0	880	$2,200	$2.50	24d	1	0.24mi
2306 SW 82nd Ter Unit 2306 North Lauderdale, FL	2.0	2.5	1332	$2,300	$1.73	24d	1	0.27mi
8140 SW 22nd St North Lauderdale, FL	3.0	2.0	1084	$2,750	$2.54	20d	1	0.29mi
6710 NW 58th Ct Tamarac, FL	2.0	2.0	1287	$2,450	$1.90	24d	1	0.36mi
5903 NW 57th Ct Tamarac, FL	1.0–3.0	1.0–2.0	1080	$2,330	$2.16	3d	30	0.38mi
6717 NW 59th St Tamarac, FL	3.0	2.0	1587	$3,700	$2.33	20d	1	0.41mi
1820 N Lauderdale Ave #3117 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	24d	1	0.43mi
1820 N Lauderdale Ave #3416 North Lauderdale, FL	2.0	2.0	1000	$2,000	$2.00	22d	1	0.43mi
8172 S Coral Cir North Lauderdale, FL	3.0	2.5	1460	$2,699	$1.85	24d	1	0.44mi
1810 SW 81st Ave Unit 2215 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	7d	1	0.47mi
1810 SW 81st Ave Unit 2215 North Lauderdale, FL	2.0	2.0	1000	$1,900	$1.90	24d	1	0.47mi
1810 SW 81st Ave Unit 2209 North Lauderdale, FL	2.0	2.0	1000	$1,700	$1.70	20d	1	0.47mi
1810 SW 81st Ave #2314 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	14d	1	0.47mi
1800 SW 81st Ave Unit 1307 North Lauderdale, FL	2.0	2.0	1000	$2,000	$2.00	17d	1	0.49mi
5821 Swordfish Ct Unit B Tamarac, FL	2.0	2.5	1380	$2,250	$1.63	24d	1	0.50mi
1726 SW 81st Ter Unit 1726 North Lauderdale, FL	3.0	2.5	1404	$2,900	$2.07	24d	1	0.51mi
1721 SW 81st Ter North Lauderdale, FL	3.0	2.5	1404	$2,750	$1.96	7d	1	0.52mi
1308 Belmont Ln #1308 North Lauderdale, FL	2.0	2.0	1035	$2,000	$1.93	7d	1	0.58mi
2707 Belmont Ln Unit 1 North Lauderdale, FL	3.0	2.0	1553	$2,250	$1.45	24d	1	0.58mi
1302 Belmont Ln #1302 North Lauderdale, FL	1.0	1.0	878	$1,850	$2.11	24d	1	0.58mi
1308 Belmont Ln #1308 North Lauderdale, FL	2.0	2.0	1035	$2,000	$1.93	17d	1	0.58mi
1002 Belmont Ln #1002 North Lauderdale, FL	1.0	1.0	878	$1,900	$2.16	24d	1	0.58mi
1204 Belmont Ln Unit 1204 North Lauderdale, FL	1.0	1.0	878	$1,800	$2.05	24d	1	0.58mi
1307 Belmont Ln #1307 North Lauderdale, FL	3.0	2.0	1480	$2,350	$1.59	24d	1	0.58mi
2008 Belmont Ln #2008 North Lauderdale, FL	3.0	2.0	1480	$2,400	$1.62	24d	1	0.58mi
2303 Belmont Ln #2303 North Lauderdale, FL	2.0	2.0	1154	$1,900	$1.65	24d	1	0.58mi
1507 Belmont Ln #1507 North Lauderdale, FL	3.0	2.0	1553	$2,300	$1.48	24d	1	0.58mi
1507 Belmont Ln #1507 North Lauderdale, FL	3.0	2.0	1553	$2,300	$1.48	20d	1	0.58mi
2202 Belmont Ln Unit 2202 North Lauderdale, FL	1.0	1.0	878	$2,150	$2.45	15d	1	0.58mi
33 Spinning Wheel Ln Tamarac, FL	3.0	2.5	1865	$2,750	$1.47	24d	1	0.62mi

HOA detail condo

• Monthly dues: $757 · $9,084/yr
• Likely covers: waterinternetcablepoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-16
   days on market $75,000 Active 4 DOM
2. 2026-06-15
   days on market $75,000 Active 3 DOM
3. 2026-06-13
   days on marketlisting id $75,000 Active 1 DOM
4. 2025-11-15
   listed $75,000 Active
5. 2024-12-30
   historical
6. 2024-11-05
   status Active
7. 2024-10-22
   price $124,000
8. 2024-07-24
   price $124,500
9. 2024-06-14
   listed $124,900 Active
10. 2003-12-08
    soldstatus $50,000
11. 1973-12-01
    soldstatus $26,183

ⓘ 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: $856 · $71/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,519
• − Mortgage interest: −$4,201
• − Property taxes: −$856
• − Insurance: −$375
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − HOA: −$9,084
• − Depreciation: −$2,182
• Taxable income: $4,738
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $3,988/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 — North Lauderdale

• Score: 76/100
• State rank: #230
• US rank: #3635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Lauderdale, FL
• County: Broward County · 1,963,430 people
• City population: 54,439
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,439
• Household income: $64,051
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 3073.0

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 0.61)
• Race & ethnicity: Black 58% Hispanic / Latino 21% Two or more races 13% White 11% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 1% Dominican 3%
• Common ancestry: Hispanic 17% Estonian 1% Lithuanian 1%
• Foreign-born: 47% · Canada, Jamaica, Vietnam
• Languages at home: 59% English-only · Spanish 19% French/Haitian/Cajun 15% 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: ▼ -317.60%
• Current HPI: 426.2972
• Rent YoY: ▼ -0.74%
• 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

+186.4% since first listed

8 events — show timeline

• 2025-11-15 Listed $75,000 MARMLS
• 2024-12-30 Listing Removed — MARMLS
• 2024-11-05 Relisted — MARMLS
• 2024-10-22 Price Changed $124,000 MARMLS
• 2024-07-24 Price Changed $124,500 MARMLS
• 2024-06-14 Listed $124,900 MARMLS
• 2003-12-08 Sold (Public Records) $50,000 Public Records
• 1973-12-01 Sold (Public Records) $26,183 Public Records

Property tax history

+5.3%/yr

Latest (2025): $856 · +1.1% YoY. Source: county tax records.