4501 NE 21 Ave #406 · Fort Lauderdale, FL 33308

$239,750

2 bd · 2.0 ba · 970 sqft · Condo public records · 20 Days on market

Built 1971 $707/mo HOA · 20% 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 +22.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 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

Attention investors and savvy buyers: this is the profitable East Fort Lauderdale deal you have been waiting for. Very close to restaurants, the beach, and shopping areas. Great reserves, all assessments have been paid. Unbelievably rare, investor-friendly rules allow immediate leasing , 4 times a year with a 90-day minimum—perfect for maximizing short-term rental income. ACT FAST.

Key facts

• Close to restaurants
• Immediate leasing
• Close to beach

Tags

• CLOSE TO RESTAURANTS
• CLOSE TO BEACH
• CLOSE TO SHOPPING AREAS
• INVESTOR FRIENDLY RULES
• IMMEDIATE LEASING

Property features AI

Finance

• Other: Pets allowed (with number and size limits)
• HOA & community: Monthly HOA fee (approx.) $707; HOA covers maintenance of grounds, pest control, sewer, trash, water, elevator, reserve funds, and pool service; Community amenities: pool, picnic area, storage, internet included

Exterior

• Parking: Assigned and guest parking; 53 total parking spaces; 1 open parking space
• Security: Other security features
• Utilities: Public water; Public sewer; Cable connected; Water connected
• Home design: Condominium; Updated/remodeled condition; 4-story building; Faces east, east of US-1
• Construction: Constructed with CBS and other materials
• Exterior features: No waterfront; Flat roof

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on main level
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Blinds and sliding window treatments; Furnished negotiable

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Bennett Elementary School (math 32% / reading 42%, grade F, #1,609 of 2,144 statewide, top 77%, 329 students, 80% 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 average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 25 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).
• At $3,599/mo this rent would consume 46% of the median local household income ($94k/yr) (locally 912% 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 $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 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,153 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — 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. 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?
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: 1.50% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 5.6

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-11,724
• Equity at exit: $35,748

10-year hold

• IRR: 6.3%
• Equity multiple: 1.49×
• Total profit: $32,829
• Equity at exit: $20,729

Cash invested: $67,130 (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: 5.6×

Monthly cashflow live

• Estimated rent: $3,599 high
• Mortgage (P&I): −$1,257
• Tax from tax record: −$398 /mo · $4,776/yr
• Insurance: −$100
• HOA: −$707
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $381

Break-even live

Break-even rent $3,117

Max offer price $239,750

Occupancy floor 84%

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: $59,938
• Closing costs: $7,192
• Reserves months: —
• Total cash needed: —

Rent comps 25 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	0.71mi
3411 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	754	$3,545	$4.70	2d	59	0.96mi
3781 NE 13th Ave Oakland Park, FL	2.0	1.0	869	$3,900	$4.49	24d	1	1.06mi
3333 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	736	$3,228	$4.38	1d	13	1.11mi
1680 NE 34th Ln Unit B Oakland Park, FL	2.0	2.0	1084	$3,100	$2.86	19d	1	1.13mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	19d	1	1.14mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	1d	1	1.14mi
3801 Dixie Hwy Oakland Park, FL	2.0	1.0–2.0	944	$3,584	$3.80	14d	45	1.16mi
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	24d	1	1.20mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	24d	1	1.31mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.31mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.31mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	17d	4	1.32mi
3900 Galt Ocean Dr Fort Lauderdale, FL	2.0	1.5–2.0	1429	$4,675	$3.27	16d	3	1.32mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	24d	1	1.32mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	24d	1	1.35mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,250	$3.97	2d	7	1.36mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	14d	6	1.36mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	4d	6	1.36mi
3700 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1025	$3,790	$3.70	24d	2	1.39mi
2900 NE 30th St Unit H6 Fort Lauderdale, FL	2.0	2.0	1040	$3,200	$3.08	24d	1	1.45mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	4d	1	1.45mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	24d	1	1.45mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–4.0	1.5–4.5	2873	$6,320	$2.20	7d	4	1.48mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1343	$4,980	$3.71	15d	4	1.48mi

HOA detail condo

• Monthly dues: $707 · $8,484/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $239,750 Active 20 DOM
2. 2026-06-17
   days on market $239,750 Active 19 DOM
3. 2026-06-16
   days on market $239,750 Active 18 DOM
4. 2026-06-15
   days on market $239,750 Active 17 DOM
5. 2026-06-13
   days on market $239,750 Active 15 DOM
6. 2026-06-09
   days on market $239,750 Active 11 DOM
7. 2026-06-08
   days on market $239,750 Active 10 DOM
8. 2026-06-07
   days on market $239,750 Active 9 DOM
9. 2026-06-04
   days on market $239,750 Active 6 DOM
10. 2026-06-03
    days on market $239,750 Active 5 DOM
11. 2026-06-02
    days on market $239,750 Active 4 DOM
12. 2026-06-01
    days on market $239,750 Active 3 DOM
13. 2026-05-31
    days on market $239,750 Active 2 DOM

ⓘ 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: $4,776 · $398/mo
• Projected year-2 tax: $4,776 · $398/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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $43,191
• − Mortgage interest: −$13,430
• − Property taxes: −$4,776
• − Insurance: −$1,199
• − Repairs & maintenance: −$3,455
• − Management: −$3,455
• − HOA: −$8,484
• − Depreciation: −$6,975
• Taxable income: $1,417
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $4,235/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): 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

+379.5% since first listed

19 events — show timeline

• 2026-05-29 Listed $239,750 Beaches MLS
• 2026-05-08 Price Changed $1,950 RMLSFL
• 2026-04-20 Price Changed $2,050 RMLSFL
• 2026-04-10 Price Changed $2,175 RMLSFL
• 2026-04-01 Listed for Rent $2,050 RMLSFL
• 2026-03-31 Rental Removed $2,150 RMLSFL
• 2026-03-25 Listed for Rent $2,150 RMLSFL
• 2026-03-14 Rental Removed $2,150 GFLMLS
• 2026-01-25 Price Changed $2,150 GFLMLS
• 2026-01-12 Listed for Rent $2,500 GFLMLS
• 2026-01-12 Rental Removed $2,500 RMLSFL
• 2026-01-11 Listed for Rent $2,500 RMLSFL
• 2025-08-29 Sold (Public Records) $221,500 Public Records
• 2024-06-20 Rental Removed $1,975 GFLMLS
• 2024-03-19 Listed for Rent $1,975 GFLMLS
• 2023-10-26 Rental Removed $2,000 LISTANZA
• 2023-10-22 Listed for Rent $2,000 LISTANZA
• 1987-04-29 Sold (Public Records) $50,000 Public Records
• 1987-04-01 Sold (Public Records) $50,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $4,776 · +7.5% YoY. Source: county tax records.