2216 NW 15th Ave · Fort Lauderdale, FL 33311

$745,000

24 bd · 16.0 ba · 2,612 sqft · MultiFamily · 79 Days on market

Built 1995

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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 +3.2/5.0
• 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

Income-producing Fourplex on a corner lot at the end of a quiet dead-end street with park views over Millspond Park. All units feature spacious layouts, open kitchens with snack counters, in-unit washer/dryer, and separate meters. Strong rental appeal in a prime location-an excellent investment opportunity. "ROOF RECENTLY REPLACED" For showings and questions, please call Evgeniy. Thanks

Key facts

• Spacious layouts
• Park views
• Open kitchens

Tags

• CORNER LOT
• QUIET DEAD-END STREET
• PARK VIEWS
• SPACIOUS LAYOUTS
• OPEN KITCHENS
• IN-UNIT WASHER DRYER

Property features AI

Exterior

• Parking: 4 parking spaces; Parking spaces available for units
• Security: No security features provided
• Utilities: Cable service not available
• Home design: Property includes multiple hotel-room/efficiency units
• Construction: Block construction; Flat and tile roof
• Exterior features: Sprinkler system; Less than quarter acre lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Multiple units include 2-bedroom configurations
• Flooring: Tile
• Bathrooms: Units include full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring
• Laundry & utility: Washer/dryer hookups in units

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $745k.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $938/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $745k).
• Recommended offer: $700k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 (+2.8%/yr); 590 active listings in the ZIP; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $11,266/mo this rent would consume 250% of the median local household income ($54k/yr) (locally 5068% 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 $5k of loan paydown is wiped out by about $22k 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 + 2.8% rent growth), your $209k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($700k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $95k (11%) 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $700,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.51% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.58%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.56×
• Total profit: $115,902
• Equity at exit: $111,082

10-year hold

• IRR: 22.6%
• Equity multiple: 2.91×
• Total profit: $399,126
• Equity at exit: $64,414

Cash invested: $208,600 (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 33311

• Rents YoY: 2.8%
• Active inventory: 590
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $11,266 medium
• Mortgage (P&I): −$3,907
• Tax est. 1.5%: −$931 /mo · $11,175/yr
• Insurance: −$310
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,366
• Net cashflow: $3,752

Break-even live

Break-even rent $6,517

Max offer price $745,000

Occupancy floor 62%

Sensitivity live

Price	-10% $4,266	-5% $4,009	+0% $3,752	+5% $3,494	+10% $3,237
Rent	-10% $2,862	-5% $3,307	+0% $3,752	+5% $4,197	+10% $4,642
Rate	-1.0pp $4,127	-0.5pp $3,941	base $3,752	+0.5pp $3,559	+1.0pp $3,362

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$11,268
Total (4 units)			$11,266

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: $186,250
• Closing costs: $22,350
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   pricedays on market $745,000 Active 79 DOM
2. 2026-06-18
   days on market $785,000 Active 76 DOM
3. 2026-06-17
   days on market $785,000 Active 75 DOM
4. 2026-06-16
   days on market $785,000 Active 74 DOM
5. 2026-06-15
   days on market $785,000 Active 73 DOM
6. 2026-06-13
   days on market $785,000 Active 71 DOM
7. 2026-06-09
   days on market $785,000 Active 67 DOM
8. 2026-06-08
   days on market $785,000 Active 66 DOM
9. 2026-06-07
   days on market $785,000 Active 65 DOM
10. 2026-06-04
    days on market $785,000 Active 62 DOM
11. 2026-06-03
    days on market $785,000 Active 61 DOM
12. 2026-06-02
    remarks 389-char remark
13. 2026-06-02
    listed $785,000 Active 60 DOM

ⓘ 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 3/10 Moderate FEMA zone X (shaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $135,192
• − Mortgage interest: −$41,732
• − Property taxes: −$11,175
• − Insurance: −$3,725
• − Repairs & maintenance: −$10,815
• − Management: −$10,815
• − Depreciation: −$21,673
• Taxable income: $35,257
• Est. tax owed @ 24.0%: −$8,462
• After-tax cash flow: $36,558/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): 74,898
• Household income: $53,973
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 5068.0

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 Black (77%)
• Race & ethnicity: Black 77% Two or more races 9% White 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 15% Lithuanian 1% Romanian 0%
• Foreign-born: 24% · Canada, Jamaica
• Languages at home: 78% English-only · French/Haitian/Cajun 14% Spanish 6% Other Indo-European 1%

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: ▼ -300.68%
• Current HPI: 535.2504
• Rent YoY: ▲ 2.78%
• 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

+78400.0% since first listed

9 events — show timeline

• 2026-06-02 Relisted — MARMLS
• 2026-06-02 Price Changed $785,000 MARMLS
• 2026-05-13 Relisted — MARMLS
• 2026-04-10 Relisted — MARMLS
• 2026-01-20 Listed $840,000 MARMLS
• 2025-07-01 Rental Removed $1,000 RENTALBEAST
• 2025-05-22 Listed for Rent $1,000 RENTALBEAST
• 2025-05-22 Rental Removed $1,000 PROPERTYWARE
• 2024-12-24 Listed for Rent $1,000 PROPERTYWARE