121 NW 56th Ct Unit 1-2 · Oakland Park, FL 33309

$625,000

4 bd · 2.0 ba · 1,600 sqft · Condo public records · 62 Days on market

Built 1976

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +1.4/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Income-producing duplex in a high-demand Oakland Park location. EachMinutes from Wilton Manors, Fort Lauderdale Airport, and the beaches, offering immediate cash flow and long-term upside. Built in 1980 with CBS construction, the property features separate water and electric meters, lowering expenses and simplifying management. Additional highlights include in-unit washer/dryer connections, privacy fencing, and well-water irrigation with a new pump and motor (March 2026). Key Capital improvements: HVAC (2019), water heater (2019), and new stove. UNIT A - 800 Sq. Ft. 2 BD, 1 BA, LAUNDRY ROOM + Privacy fence and backyard (LEASED| UNIT B - 800 Sq. Ft. 2BD, 1 BA, LAUNDRY ROOM + Privacy fence an

Key facts

• 9331 acre lot
• Built 1976
• Listed 61 days

Property features AI

Finance

• Financial info: Two-unit property; Gross income reported as $25,200; Tenants are responsible for electricity, water and sewer; Pets allowed (cats and dogs OK)

Exterior

• Utilities: Public water; Public sewer; Water connected; Sewer connected; Two separate electric meters; Two separate water meters
• Home design: Duplex; Single-story; Resale condition
• Construction: Built with stucco, concrete block (CBS), and stone; Other roof
• Exterior features: Fenced backyard; Cul-de-sac setting; Corner lot; Fruit trees on the property; Paved public road frontage

Interior

• Flooring: Tile flooring
• Heating & cooling: Central heating (electric) with separate meters; Central air conditioning (electric); Wall/window unit(s)
• Interior features: Satellite dish
• Laundry & utility: Laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $625k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $384k (38.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (36.0% below list).
• Recommended offer: $384k (38.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#193 in FL, #3,082 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F.
• 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: North Andrews Gardens Elementary School (math 40% / reading 48%, grade F, #1,330 of 2,144 statewide, top 63%, 780 students, 77% FRL); James S. Rickards Middle School (math 18% / reading 31%, grade F, #522 of 571 statewide, top 93%, 755 students, 75% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL) — zoned schools average 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 341 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,999/mo this rent would consume 62% of the median local household income ($77k/yr) (locally 1596% 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 $4k of loan paydown is wiped out by about $19k 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 62 days — a 6% lower offer ($588k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $290k; list at $625k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $384,352 (38.5% 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 62 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 0.64% ✗
• Cap rate: 3.97%
• Cash-on-cash: -8.30%
• DSCR: 0.63
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -36.5%
• Equity multiple: -0.14×
• Total profit: $-199,575
• Equity at exit: $93,190

10-year hold

• IRR: -75.5%
• Equity multiple: -0.89×
• Total profit: $-330,051
• Equity at exit: $54,039

Cash invested: $175,000 (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 33309

• Home prices YoY: -26.6%
• Rents YoY: -0.5%
• Active inventory: 341
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,999 high
• Mortgage (P&I): −$3,278
• Tax from tax record: −$832 /mo · $9,980/yr
• Insurance: −$260
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $-1,362

Break-even live

Break-even rent $5,724

Max offer price $384,352

Occupancy floor —

Sensitivity live

Price	-10% $-1,008	-5% $-1,185	+0% $-1,362	+5% $-1,539	+10% $-1,716
Rent	-10% $-1,678	-5% $-1,520	+0% $-1,362	+5% $-1,204	+10% $-1,046
Rate	-1.0pp $-1,048	-0.5pp $-1,203	base $-1,362	+0.5pp $-1,524	+1.0pp $-1,689

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5409 NE 4th Ave Fort Lauderdale, FL	3.0	2.0	1178	$3,200	$2.72	26d	1	0.49mi
320 NW 51st Ct Fort Lauderdale, FL	3.0	2.0	1396	$3,500	$2.51	26d	1	0.49mi
5655 NE 5th Ter Fort Lauderdale, FL	3.0	2.0	1178	$3,250	$2.76	17d	1	0.55mi
5655 NE 5th Ter Fort Lauderdale, FL	3.0	2.0	1178	$3,250	$2.76	26d	1	0.55mi
5225 NE 4th Ave Fort Lauderdale, FL	3.0	2.0	1650	$3,300	$2.00	13d	1	0.59mi
240 NW 48th Ct Fort Lauderdale, FL	3.0	2.0	1240	$3,100	$2.50	5d	1	0.69mi
5157 NE 5th Ave Unit 1 Fort Lauderdale, FL	3.0	2.0	1250	$3,500	$2.80	4d	1	0.70mi
540 NE 61st Ct Fort Lauderdale, FL	3.0	2.0	1272	$3,395	$2.67	4d	1	0.71mi
4650 NE 2nd Ave Fort Lauderdale, FL	3.0	2.0	1356	$3,950	$2.91	26d	1	0.92mi
4680 NE 5th Ave Fort Lauderdale, FL	3.0	2.0	1300	$3,800	$2.92	9d	1	1.00mi
50 NE 45th Ct Fort Lauderdale, FL	4.0	2.0	1600	$3,300	$2.06	26d	1	1.01mi
4580 NE 3rd Ave Fort Lauderdale, FL	3.0	2.0	1192	$3,300	$2.77	22d	1	1.01mi
4601 NE 4th Ave Unit 1261561P Fort Lauderdale, FL	3.0	2.0	1097	$4,430	$4.04	26d	1	1.03mi
4780 NE 8th Ter Oakland Park, FL	3.0	2.0	1130	$4,200	$3.72	26d	1	1.09mi
1419 NE 57th St Fort Lauderdale, FL	4.0	2.5	2176	$7,500	$3.45	15d	1	1.17mi
1424 NE 53rd Ct Fort Lauderdale, FL	3.0	2.0	1584	$7,500	$4.73	26d	1	1.21mi
1466 NE 57th Ct Unit 1044539P Fort Lauderdale, FL	3.0	2.0	2012	$6,185	$3.07	9d	1	1.28mi
1466 NE 57th Ct Fort Lauderdale, FL	3.0	2.0	2020	$8,200	$4.06	26d	1	1.28mi
1465 NE 53rd St Fort Lauderdale, FL	4.0	2.0	1893	$12,000	$6.34	26d	1	1.31mi
1465 NE 53rd St Fort Lauderdale, FL	4.0	2.0	1893	$12,000	$6.34	0d	1	1.31mi
1478 NE 57th St Fort Lauderdale, FL	3.0	2.0	1590	$5,400	$3.40	26d	1	1.32mi
333 NW 41st St #337 Oakland Park, FL	3.0	2.5	2000	$3,950	$1.98	16d	1	1.33mi
333 NW 41st St #331 Oakland Park, FL	3.0	2.5	2000	$3,700	$1.85	26d	1	1.33mi
116 NW 41st St Unit 104 Oakland Park, FL	3.0	2.5	2025	$3,500	$1.73	26d	1	1.35mi
682 NE 43rd St Oakland Park, FL	3.0	2.5	1694	$4,200	$2.48	26d	1	1.37mi
5921 NE 15th Ave Fort Lauderdale, FL	3.0	3.0	1977	$4,600	$2.33	26d	1	1.42mi
554 NW 40th Ct Oakland Park, FL	5.0	2.0	1475	$4,564	$3.09	26d	1	1.43mi
5800 NE 15th Ave Fort Lauderdale, FL	4.0	3.0	2076	$6,000	$2.89	5d	1	1.43mi
5800 NE 15th Ave Fort Lauderdale, FL	4.0	3.0	2076	$6,000	$2.89	7d	1	1.43mi
5200 NE 15th Ave Fort Lauderdale, FL	3.0	2.0	1585	$4,600	$2.90	26d	1	1.46mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	5d	1	1.48mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	26d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $625,000 Active 62 DOM
2. 2026-06-18
   days on market $625,000 Active 59 DOM
3. 2026-06-17
   days on market $625,000 Active 58 DOM
4. 2026-06-16
   days on market $625,000 Active 57 DOM
5. 2026-06-15
   days on market $625,000 Active 56 DOM
6. 2026-06-13
   days on market $625,000 Active 54 DOM
7. 2026-06-09
   days on market $625,000 Active 50 DOM
8. 2026-06-08
   days on market $625,000 Active 49 DOM
9. 2026-06-07
   days on market $625,000 Active 48 DOM
10. 2026-06-04
    days on market $625,000 Active 45 DOM
11. 2026-06-03
    days on market $625,000 Active 44 DOM
12. 2026-06-02
    days on market $625,000 Active 43 DOM
13. 2026-06-01
    days on market $625,000 Active 42 DOM
14. 2026-05-31
    days on market $625,000 Active 41 DOM
15. 2026-04-16
    listed $630,000 Active
16. 2004-12-22
    soldstatus $290,000
17. 1996-03-22
    soldstatus $77,000
18. 1986-11-01
    soldstatus $74,000

ⓘ 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: $9,980 · $832/mo
• Projected year-2 tax: $9,980 · $832/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 AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,991
• − Mortgage interest: −$35,010
• − Property taxes: −$9,980
• − Insurance: −$4,950
• − Repairs & maintenance: −$3,839
• − Management: −$3,839
• − Depreciation: −$18,182
• Taxable loss: −$27,808
• Est. tax savings @ 24.0%: +$6,674
• After-tax cash flow: $-9,673/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 — Oakland Park

• Score: 77/100
• State rank: #193
• US rank: #3082

Category grades

Amenities F Commute A+ Cost of living B Crime B+ Employment C Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland Park, FL
• County: Broward County · 1,963,430 people
• City population: 68,410
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,475
• Household income: $77,321
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 1596.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 43% Hispanic / Latino 28% White 22% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 15% Lithuanian 1% Romanian 1%
• Foreign-born: 38% · Canada, Jamaica, Dominican Republic
• Languages at home: 55% English-only · Spanish 25% French/Haitian/Cajun 17% Other Indo-European 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: ▼ -158.71%
• Current HPI: 439.091
• Rent YoY: ▼ -0.50%
• 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

+751.4% since first listed

4 events — show timeline

• 2026-04-16 Listed $630,000 Beaches MLS
• 2004-12-22 Sold (Public Records) $290,000 Public Records
• 1996-03-22 Sold (Public Records) $77,000 Public Records
• 1986-11-01 Sold (Public Records) $74,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $9,980 · +8.4% YoY. Source: county tax records.