4013 N Ocean Dr N #109 · Lauderdale-by-the-Sea, FL 33308

$285,000

1 bd · 2.0 ba · 790 sqft · Condo public records · 53 Days on market

Built 1978 $696/mo HOA · 21% of rent

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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 +11.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.1/10.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT LOCATION SITUATED IN LAUDERDALE BY THE SEA! BOUTIQUE BLDG STEPS TO THE OCEAN WITH DIRECT BEACH ACCESS. MINUTES WALK TO SHOPS AND RESTAURANTS. SPACIOUS ONE BEDROOM CORNER UNIT WITH EXTRA HALF BATH FOR GUESTS, CENTRAL AC, WASHER and DRYER IN UNIT, LARGE DOUBLE BALCONY AND COVERED GARAGE PARKING! BUILDING HAS COMPLETED 40 YR INSPECTIONS AND SIRS STUDY, NEWER ROOF AND RECENTLY PAINTED. WELL KEPT AND MANAGED, DIRECTLY ACROSS ST FROM BEACH. MINUTES WALK TO COMMERCIAL BLVD SHOPS, PIER, RESTAURANTS AND NIGHTLIFE! EASY COMMUTE TO 1-95 AND MAJOR ARTERIES. GREAT BUILDING, RESERVES and ONE OF THE BEST BEACH LOCATIONS IN THE FT LAUDERDALE AREA!

Key facts

• $696 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Number of units in community: 48
• Financial info: No land lease
• HOA & community: Association: TOP OF THE MILE INC; Quarterly HOA fee; Association amenities include beach access, elevator(s), parking, pool (heated), maintained community, gated access, and maintenance services; HOA covers insurance, grounds and structure maintenance, pest control, sewer, trash, water, common areas, common real estate tax, elevator, legal/accounting, reserve funds, roof repairs, and pool service; Community of 48 units; Pets not allowed

Exterior

• Parking: Total 64 parking spaces in community; Assigned and guest parking; Covered parking (1 covered space); Attached 1-car garage with garage door opener; Open parking (4 spaces); Concrete, paver block and underground/under-building parking available
• Security: Gated community (no guard); Security gate; Secured garage/parking; Security lights; Entry phone/intercom; Elevator secure; Fire alarm; Smoke detectors; Security fence
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected; Natural gas not available
• Home design: Condominium; One level; Entry level 1; Faces east; Resale
• Construction: Built with block/CBS and stucco (concrete block with stucco); Combination foundation including concrete perimeter, slab, pilings, pillars/posts/piers; raised and permanent elements; Roof materials include concrete, flat, mansard and shingle; 3 total stories in building; Building area from assessor: 790
• Exterior features: Open patio; Patio; Fenced with wrought iron; Full perimeter privacy/security fence with gate; Corner lot; Landscaped; Oversized lot; Sidewalks; Asphalt/paved road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater (owned)
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Entrance foyer; Custom mirrors; Partially furnished
• Laundry & utility: In-unit laundry; Laundry closet; Electric dryer hookup; Laundry located in bathroom

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $-79 ($-952/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (4.9% below list).
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $271k (4.9% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 2.0% in Lauderdale-by-the-Sea — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Bayview Elementary School (math 79% / reading 85%, grade A+, #79 of 2,144 statewide, top 4%, 552 students, 23% FRL); Sunrise Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,242 students, 64% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL) — zoned schools at 48% FRL track the district average.
• Zoned-school proficiency averages 62% at this address vs 48% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Broward average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 33 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).
• This rent runs 42% 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 $2k of loan paydown is wiped out by about $9k 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 53 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $285k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate flood risk; 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 $270,985 (4.9% 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 53 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.15% ✓
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• GRM: 7.2

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: -17.1%
• Equity multiple: 0.39×
• Total profit: $-48,663
• Equity at exit: $42,494

10-year hold

• IRR: -7.2%
• Equity multiple: 0.52×
• Total profit: $-38,234
• Equity at exit: $24,642

Cash invested: $79,800 (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: 746
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,280 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$361 /mo · $4,335/yr
• Insurance: −$119
• HOA: −$696
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $-79

Break-even live

Break-even rent $3,380

Max offer price $270,985

Occupancy floor 97%

Sensitivity live

Price	-10% $82	-5% $1	+0% $-79	+5% $-160	+10% $-241
Rent	-10% $-338	-5% $-209	+0% $-79	+5% $50	+10% $180
Rate	-1.0pp $64	-0.5pp $-7	base $-79	+0.5pp $-153	+1.0pp $-228

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	26d	1	0.02mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	26d	1	0.23mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	6d	3	0.43mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	7d	2	0.43mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$3,750	$2.62	0d	4	0.49mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$3,100	$2.17	19d	4	0.49mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	26d	1	0.54mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$3,300	$3.08	6d	6	0.58mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$3,400	$3.17	16d	6	0.58mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$3,200	$2.99	4d	7	0.58mi
4800 Bayview Dr #303 Fort Lauderdale, FL	2.0	2.0	1032	$3,500	$3.39	26d	1	0.65mi
3700 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1025	$3,500	$3.41	26d	2	0.66mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	26d	1	0.70mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	21d	1	0.75mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	3d	1	0.75mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	26d	1	0.79mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	6d	1	0.79mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	19d	1	0.82mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–4.0	1.5–4.5	2873	$3,980	$1.39	9d	4	0.85mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1343	$3,200	$2.38	17d	4	0.85mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	16d	1	1.04mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	26d	1	1.04mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	26d	1	1.12mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,400	$2.63	9d	3	1.14mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,200	$2.48	6d	4	1.14mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1325	$3,475	$2.62	19d	3	1.14mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	26d	1	1.18mi
3020 NE 32nd Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	920	$3,200	$3.48	6d	4	1.21mi
2900 NE 30th St Unit H6 Fort Lauderdale, FL	2.0	2.0	1040	$3,200	$3.08	26d	1	1.25mi
2866 NE 30th St Fort Lauderdale, FL	2.0	2.0	931	$4,900	$5.26	0d	2	1.27mi
2841 N Ocean Blvd Fort Lauderdale, FL	2.0	2.0	1150	$3,700	$3.22	16d	3	1.30mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	23d	1	1.46mi
6000 N Ocean Blvd Lauderdale by the Sea, FL	2.0	2.0	904	$3,350	$3.71	0d	2	1.46mi

HOA detail condo

• Monthly dues: $696 · $8,352/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $285,000 Active 53 DOM
2. 2026-06-18
   days on market $285,000 Active 50 DOM
3. 2026-06-17
   days on market $285,000 Active 49 DOM
4. 2026-06-16
   days on market $285,000 Active 48 DOM
5. 2026-06-15
   days on market $285,000 Active 47 DOM
6. 2026-06-13
   days on market $285,000 Active 45 DOM
7. 2026-06-09
   days on market $285,000 Active 41 DOM
8. 2026-06-08
   days on market $285,000 Active 40 DOM
9. 2026-06-07
   days on market $285,000 Active 39 DOM
10. 2026-06-04
    days on market $285,000 Active 36 DOM
11. 2026-06-03
    days on market $285,000 Active 35 DOM
12. 2026-06-02
    days on market $285,000 Active 34 DOM
13. 2026-06-01
    days on market $285,000 Active 33 DOM
14. 2026-05-31
    days on market $285,000 Active 32 DOM
15. 2026-04-25
    listed $285,000 Active
16. 2001-02-23
    soldstatus $80,000
17. 1981-06-01
    soldstatus $78,500
18. 1979-11-01
    soldstatus $72,500

ⓘ 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: $4,335 · $361/mo
• Projected year-2 tax: $4,335 · $361/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $39,361
• − Mortgage interest: −$15,964
• − Property taxes: −$4,335
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,149
• − Management: −$3,149
• − HOA: −$8,352
• − Depreciation: −$8,291
• Taxable loss: −$5,304
• Est. tax savings @ 24.0%: +$1,273
• After-tax cash flow: $321/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 — Lauderdale-by-the-Sea

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lauderdale-by-the-Sea, 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

+293.1% since first listed

4 events — show timeline

• 2026-04-25 Listed $285,000 Beaches MLS
• 2001-02-23 Sold (Public Records) $80,000 Public Records
• 1981-06-01 Sold (Public Records) $78,500 Public Records
• 1979-11-01 Sold (Public Records) $72,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $4,335 · +8.1% YoY. Source: county tax records.