5201 NE 24th Ter Unit A201 · Fort Lauderdale, FL 33308

$199,000

2 bd · 2.0 ba · 875 sqft · Condo public records · 115 Days on market

Built 1966 $642/mo HOA · 19% 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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• 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 MLS

Best unit in the complex! Corner unit, updated and professionally decorated condo. Featuring porcelain flooring, impact windows. Conveniently located in East Fort Lauderdale close to the beach, shops, restaurants, entertainment. Community has great, well maintained amenities, plumbing recently redone and paid in full by seller, low HOA. Also available for seasonal rent (3 months min. for $2200/month) and annual rent (MLS#A10778084) .

Key facts

• Functional kitchen
• Corner unit
• Designated parking

Tags

• CORNER UNIT
• MODERN PORCELAIN FLOORING
• FUNCTIONAL KITCHEN
• QUIET WELL KEPT COMMUNITY
• DESIGNATED PARKING

Property features AI

Finance

• Financial info: No pets allowed
• HOA & community: Community clubhouse; Elevators; Fitness center; On-site manager; Pool; Laundry; Picnic area; Parking; Trash chute; Bike storage; Business center; Community room; Monthly association fee (includes cable TV, insurance, grounds maintenance, pest control, sewer, trash, common areas, elevator, hot water)

Exterior

• Parking: Assigned parking and guest spaces; 1 covered space; 1 garage space
• Security: Closed-circuit cameras
• Utilities: Three-phase electric; Public sewer; Cable available
• Home design: Condominium; Multi/split levels; Resale property; Faces south; 3 total stories
• Construction: Brick and concrete construction; Second/third floor concrete
• Exterior features: Private in-ground spa; Private in-ground pool (gunite, salt water) with child gate

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Ceramic tile; Other flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Individual central cooling
• Interior features: Closet cabinetry; Storm windows
• Laundry & utility: On-site laundry in the building

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 $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 43% of the median local income ($94k/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 $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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $26k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $164k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.71% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.62%
• DSCR: 1.52
• GRM: 4.9

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $4,797
• Equity at exit: $29,672

10-year hold

• IRR: 12.8%
• Equity multiple: 2.07×
• Total profit: $59,534
• 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: 739
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,393 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$373 /mo · $4,474/yr
• Insurance: −$83
• HOA: −$642
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $539

Break-even live

Break-even rent $2,711

Max offer price $199,000

Occupancy floor 79%

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 19 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	0.46mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	24d	1	0.90mi
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	24d	1	1.13mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	1.14mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	2d	16	1.15mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	24d	1	1.16mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	24d	1	1.18mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	15d	1	1.18mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	24d	1	1.23mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	24d	1	1.25mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,694	$2.47	2d	17	1.28mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.42mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.42mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	3d	1	1.43mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	22d	1	1.43mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	1d	1	1.44mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	20d	1	1.44mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	17d	4	1.46mi
3900 Galt Ocean Dr Fort Lauderdale, FL	2.0	1.5–2.0	1429	$4,675	$3.27	17d	3	1.46mi

HOA detail condo

• Monthly dues: $642 · $7,704/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $199,000 Active 115 DOM
2. 2026-06-17
   days on market $199,000 Active 114 DOM
3. 2026-06-16
   days on market $199,000 Active 113 DOM
4. 2026-06-15
   days on market $199,000 Active 112 DOM
5. 2026-06-13
   days on market $199,000 Active 110 DOM
6. 2026-06-09
   days on market $199,000 Active 106 DOM
7. 2026-06-07
   days on market $199,000 Active 104 DOM
8. 2026-06-04
   days on market $199,000 Active 101 DOM
9. 2026-06-03
   days on market $199,000 Active 100 DOM
10. 2026-06-02
    days on market $199,000 Active 99 DOM
11. 2026-06-01
    days on market $199,000 Active 98 DOM
12. 2026-05-31
    days on market $199,000 Active 97 DOM
13. 2026-05-11
    price $199,000
14. 2026-03-30
    price $209,000
15. 2026-02-23
    listed $224,500 Active
16. 2023-10-20
    historical $2,100
17. 2023-08-20
    price $2,100
18. 2023-07-28
    price $2,200
19. 2023-07-20
    listed $2,300
20. 2020-03-17
    soldstatus $164,500
21. 2020-03-16
    soldstatus $164,500 Closed 437-char remark

    Show marketing remark (437 chars)

    Best unit in the complex! Corner unit, updated and professionally decorated condo. Featuring porcelain flooring, impact windows. Conveniently located in East Fort Lauderdale close to the beach, shops, restaurants, entertainment. Community has great, well maintained amenities, plumbing recently redone and paid in full by seller, low HOA. Also available for seasonal rent (3 months min. for $2200/month) and annual rent (MLS#A10778084) .

22. 2020-02-11
    historical Active Under Contract 437-char remark

    Show marketing remark (437 chars)

    Best unit in the complex! Corner unit, updated and professionally decorated condo. Featuring porcelain flooring, impact windows. Conveniently located in East Fort Lauderdale close to the beach, shops, restaurants, entertainment. Community has great, well maintained amenities, plumbing recently redone and paid in full by seller, low HOA. Also available for seasonal rent (3 months min. for $2200/month) and annual rent (MLS#A10778084) .

23. 2019-12-04
    price $169,900 437-char remark

    Show marketing remark (437 chars)

    Best unit in the complex! Corner unit, updated and professionally decorated condo. Featuring porcelain flooring, impact windows. Conveniently located in East Fort Lauderdale close to the beach, shops, restaurants, entertainment. Community has great, well maintained amenities, plumbing recently redone and paid in full by seller, low HOA. Also available for seasonal rent (3 months min. for $2200/month) and annual rent (MLS#A10778084) .

24. 2019-11-27
    listed $170,000 Active 437-char remark

    Show marketing remark (437 chars)

    Best unit in the complex! Corner unit, updated and professionally decorated condo. Featuring porcelain flooring, impact windows. Conveniently located in East Fort Lauderdale close to the beach, shops, restaurants, entertainment. Community has great, well maintained amenities, plumbing recently redone and paid in full by seller, low HOA. Also available for seasonal rent (3 months min. for $2200/month) and annual rent (MLS#A10778084) .

25. 2015-09-16
    soldstatus $125,000
26. 1976-02-01
    soldstatus $32,500

ⓘ 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: $4,474 · $373/mo
• Projected year-2 tax: $4,474 · $373/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: $40,720
• − Mortgage interest: −$11,147
• − Property taxes: −$4,474
• − Insurance: −$995
• − Repairs & maintenance: −$3,258
• − Management: −$3,258
• − HOA: −$7,704
• − Depreciation: −$5,789
• Taxable income: $4,096
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $5,490/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: 68,410
• 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

+512.3% since first listed

14 events — show timeline

• 2026-05-11 Price Changed $199,000 Beaches MLS
• 2026-03-30 Price Changed $209,000 Beaches MLS
• 2026-02-23 Listed $224,500 Beaches MLS
• 2023-10-20 Rental Removed $2,100 MARMLS
• 2023-08-20 Price Changed $2,100 MARMLS
• 2023-07-28 Price Changed $2,200 MARMLS
• 2023-07-20 Listed for Rent $2,300 MARMLS
• 2020-03-17 Sold (Public Records) $164,500 Public Records
• 2020-03-16 Sold (MLS) $164,500 MARMLS
• 2020-02-11 Contingent — MARMLS
• 2019-12-04 Price Changed $169,900 MARMLS
• 2019-11-27 Listed $170,000 MARMLS
• 2015-09-16 Sold (Public Records) $125,000 Public Records
• 1976-02-01 Sold (Public Records) $32,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $4,474 · +7.6% YoY. Source: county tax records.