224 Hibiscus Ave #260 · Lauderdale-by-the-Sea, FL 33308

$224,900

1 bd · 1.0 ba · 640 sqft · Condo public records · 43 Days on market

Built 1966 $625/mo HOA · 19% of rent

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Why this score? — see what drove the C 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 +22.8/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.1/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

EXCLUSIVE! FOR SALE! Highly Desirable Multi-Million Dollar Area, Newly Remodeled Steps To The Beach Condo! Close to Aruba's Restaurant & Entertainment! All New Appliances, NEW PGT Hurricane Impact Windows & More! Beautiful Heated Pool, Storage, No Rental Or Age Restrictions For Annual or Seasonal Rentals (no airbnb) Quiet & Relaxing Atmosphere, Extra Parking With Permit! Best Buy!

Key facts

• Laminate wood floors
• Updated electric
• Lots of closet space

Tags

• HURRICANE IMPACT WINDOWS
• LAMINATE WOOD FLOORS
• UPDATED KITCHEN
• UPDATED BATHROOM
• LOTS OF CLOSET SPACE
• UPDATED ELECTRIC

Property features AI

Finance

• Other: Directions: From Commercial Blvd go south on Sea Grape to the end of the street, then right, then left
• Financial info: Community has 75 units; Pets are not allowed
• HOA & community: Association: South Leisure by the Sea Association, Inc.; Monthly HOA dues $625; Association amenities include pool, elevator(s), laundry, parking, storage, car wash area, picnic area, shuffleboard court, bocce ball, maintenance; HOA covers insurance, grounds and structure maintenance, sewer, trash, water, common areas, elevator, legal/accounting, reserves, roof repairs, and pool service

Exterior

• Parking: Assigned parking (1 open space, total parking 1)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available; Phone available; Electricity available; Sewer available; Water available
• Home design: Condominium; Entry on level 2; Faces south; One living level; Resale property; Located in a 3-story building (Leisure by the Sea South)
• Construction: Block construction; Spanish tile roof; Slab foundation; Built (assessor records) — building area 640
• Exterior features: Private pool; Asphalt road frontage; Publicly maintained road; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate; Wood
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Smoke detector(s); Blinds; Unfurnished
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 C — 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); 739 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 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 $7k 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 43 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.

Risks & watch-outs

• 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 $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 5.7

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-8,967
• Equity at exit: $33,533

10-year hold

• IRR: 7.0%
• Equity multiple: 1.55×
• Total profit: $34,918
• Equity at exit: $19,445

Cash invested: $62,972 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,312 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$328 /mo · $3,933/yr
• Insurance: −$94
• HOA: −$625
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $391

Break-even live

Break-even rent $2,817

Max offer price $224,900

Occupancy floor 83%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	0.57mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	0.57mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	0.71mi
3020 NE 32nd Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	920	$3,200	$3.48	4d	4	1.33mi

HOA detail condo

• Monthly dues: $625 · $7,500/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $224,900 Active 43 DOM
2. 2026-06-17
   days on market $224,900 Active 42 DOM
3. 2026-06-16
   days on market $224,900 Active 41 DOM
4. 2026-06-15
   days on market $224,900 Active 40 DOM
5. 2026-06-13
   days on market $224,900 Active 38 DOM
6. 2026-06-09
   days on market $224,900 Active 34 DOM
7. 2026-06-08
   days on market $224,900 Active 33 DOM
8. 2026-06-07
   days on market $224,900 Active 32 DOM
9. 2026-06-04
   days on market $224,900 Active 29 DOM
10. 2026-06-03
    days on market $224,900 Active 28 DOM
11. 2026-06-02
    days on market $224,900 Active 27 DOM
12. 2026-06-01
    days on market $224,900 Active 26 DOM
13. 2026-05-31
    days on market $224,900 Active 25 DOM
14. 2026-05-06
    listed $224,900 Active
15. 2025-10-25
    historical $1,800
16. 2025-07-22
    price $1,800
17. 2025-06-15
    listed $1,900
18. 2024-03-28
    historical $1,850
19. 2024-03-19
    listed $1,850
20. 2022-09-26
    soldstatus $235,000
21. 2021-09-24
    soldstatus $187,000 Closed 401-char remark

    Show marketing remark (401 chars)

    EXCLUSIVE! FOR SALE! Highly Desirable Multi-Million Dollar Area, Newly Remodeled Steps To The Beach Condo! Close to Aruba's Restaurant & Entertainment! All New Appliances, NEW PGT Hurricane Impact Windows & More! Beautiful Heated Pool, Storage, No Rental Or Age Restrictions For Annual or Seasonal Rentals (no airbnb) Quiet & Relaxing Atmosphere, Extra Parking With Permit! Best Buy!

22. 2021-09-24
    soldstatus $187,000

    Show marketing remark (401 chars)

    EXCLUSIVE! FOR SALE! Highly Desirable Multi-Million Dollar Area, Newly Remodeled Steps To The Beach Condo! Close to Aruba's Restaurant & Entertainment! All New Appliances, NEW PGT Hurricane Impact Windows & More! Beautiful Heated Pool, Storage, No Rental Or Age Restrictions For Annual or Seasonal Rentals (no airbnb) Quiet & Relaxing Atmosphere, Extra Parking With Permit! Best Buy!

23. 2021-08-31
    status Pending 401-char remark

    Show marketing remark (401 chars)

    EXCLUSIVE! FOR SALE! Highly Desirable Multi-Million Dollar Area, Newly Remodeled Steps To The Beach Condo! Close to Aruba's Restaurant & Entertainment! All New Appliances, NEW PGT Hurricane Impact Windows & More! Beautiful Heated Pool, Storage, No Rental Or Age Restrictions For Annual or Seasonal Rentals (no airbnb) Quiet & Relaxing Atmosphere, Extra Parking With Permit! Best Buy!

24. 2021-08-23
    listed $189,999 Active 401-char remark

    Show marketing remark (401 chars)

    EXCLUSIVE! FOR SALE! Highly Desirable Multi-Million Dollar Area, Newly Remodeled Steps To The Beach Condo! Close to Aruba's Restaurant & Entertainment! All New Appliances, NEW PGT Hurricane Impact Windows & More! Beautiful Heated Pool, Storage, No Rental Or Age Restrictions For Annual or Seasonal Rentals (no airbnb) Quiet & Relaxing Atmosphere, Extra Parking With Permit! Best Buy!

25. 2002-08-13
    soldstatus $55,000
26. 1966-06-01
    soldstatus $11,000

ⓘ 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: $3,933 · $328/mo
• Projected year-2 tax: $3,933 · $328/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) · 23% 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: $39,749
• − Mortgage interest: −$12,598
• − Property taxes: −$3,933
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,180
• − Management: −$3,180
• − HOA: −$7,500
• − Depreciation: −$6,543
• Taxable income: $1,691
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $4,286/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

+1944.5% since first listed

13 events — show timeline

• 2026-05-06 Listed $224,900 Beaches MLS
• 2025-10-25 Rental Removed $1,800 GFLMLS
• 2025-07-22 Price Changed $1,800 GFLMLS
• 2025-06-15 Listed for Rent $1,900 GFLMLS
• 2024-03-28 Rental Removed $1,850 GFLMLS
• 2024-03-19 Listed for Rent $1,850 GFLMLS
• 2022-09-26 Sold (Public Records) $235,000 Public Records
• 2021-09-24 Sold (Public Records) $187,000 Public Records
• 2021-09-24 Sold (MLS) $187,000 MARMLS
• 2021-08-31 Pending — MARMLS
• 2021-08-23 Listed $189,999 MARMLS
• 2002-08-13 Sold (Public Records) $55,000 Public Records
• 1966-06-01 Sold (Public Records) $11,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,933 · +1.6% YoY. Source: county tax records.