5 NE 16th Ct · Fort Lauderdale, FL 33305

$1,020,000

20 bd · 8.0 ba · 2,829 sqft · MultiFamily public records · 119 Days on market

Built 1975

---

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
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks

BEST INVESTMENT PORTFOLIO IN FORT LAUDERDALE!! CONSISTS OF TWO 5 bed 2 bath UNITS. CURRENTLY RENTED AT TOP PRICE!! JUST BUY AND START RECEIVING YOUR MONTHLY CASHFLOW!! SHOWINGS WILL ONLY BE DONE ONCE UNDER CONTRACT. OWNER COULD FINANCE WITH 50% DOWN

Key facts

• 5 parking spots
• Built 1975
• Listed 118 days

Property features AI

Finance

• Financial info: One unit reports $3,190 actual rent (month-to-month); Other unit reports $3,190 actual rent (month-to-month); Rent includes gardener service

Exterior

• Parking: Total of 5 parking spaces; Units list parking space available
• Utilities: Cable available; Public sewer
• Home design: 2-story building; Resale property; Flat and tile roofing
• Construction: Brick and block construction
• Exterior features: Lot smaller than 1/4 acre; Zoned RDS-15

Interior

• Bedrooms: Two 5-bedroom units
• Flooring: Ceramic tile; Laminate
• Bathrooms: Three full bathrooms in one unit; Two full bathrooms in the other unit
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceramic tile and laminate flooring; Central heating and central air conditioning
• Laundry & utility: One unit includes a laundry room

What this means for you Summary

Snapshot

• This is a 5 × 4-bed/?-bath units multifamily listed at $1.02M.

Deal economics

• At list price, monthly cash flow is $8k ($97k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.02M).
• Recommended offer: $928k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 soft (-0.4%/yr); 298 active listings in the ZIP; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $19,151/mo this rent would consume 248% of the median local household income ($92k/yr) (locally 761% 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 $7k of loan paydown is wiped out by about $31k 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 + 0.0% rent growth), your $286k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($928k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y 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.
• Current owner paid $610k; list at $1.02M implies a 67% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $928,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
9. 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.
10. 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.
11. 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: 1.88% ✓
• Cap rate: 15.94%
• Cash-on-cash: 34.46%
• DSCR: 2.53
• GRM: 4.4

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: 25.7%
• Equity multiple: 2.02×
• Total profit: $291,528
• Equity at exit: $152,085

10-year hold

• IRR: 31.5%
• Equity multiple: 3.45×
• Total profit: $698,302
• Equity at exit: $88,191

Cash invested: $285,600 (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 33305

• Rents YoY: -0.4%
• Active inventory: 298
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $19,151 high
• Mortgage (P&I): −$5,349
• Tax from tax record: −$1,155 /mo · $13,854/yr
• Insurance: −$425
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,022
• Net cashflow: $8,049

Break-even live

Break-even rent $8,963

Max offer price $1,020,000

Occupancy floor 53%

Sensitivity live

Price	-10% $8,626	-5% $8,337	+0% $8,049	+5% $7,760	+10% $7,471
Rent	-10% $6,536	-5% $7,292	+0% $8,049	+5% $8,805	+10% $9,562
Rate	-1.0pp $8,562	-0.5pp $8,308	base $8,049	+0.5pp $7,784	+1.0pp $7,516

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

Units	Beds	Baths	Est. rent
▸ 5× units	4	—	$19,150
Total (5 units)			$19,151

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: $255,000
• Closing costs: $30,600
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $1,020,000 Active 119 DOM
2. 2026-06-17
   days on market $1,020,000 Active 118 DOM
3. 2026-06-16
   days on market $1,020,000 Active 117 DOM
4. 2026-06-15
   days on market $1,020,000 Active 116 DOM
5. 2026-06-13
   days on market $1,020,000 Active 114 DOM
6. 2026-06-09
   days on market $1,020,000 Active 110 DOM
7. 2026-06-07
   days on market $1,020,000 Active 108 DOM
8. 2026-06-04
   days on market $1,020,000 Active 105 DOM
9. 2026-06-03
   days on market $1,020,000 Active 104 DOM
10. 2026-06-02
    days on market $1,020,000 Active 103 DOM
11. 2026-06-01
    days on market $1,020,000 Active 102 DOM
12. 2026-05-31
    days on market $1,020,000 Active 101 DOM
13. 2026-02-19
    listed $1,020,000 Active
14. 2024-11-12
    listed $1,100,000 Active
15. 2024-08-31
    historical
16. 2024-05-13
    price $1,090,000
17. 2024-04-08
    listed $1,175,000 Active
18. 2022-08-29
    price $3,190
19. 2021-11-16
    soldstatus $610,000
20. 2021-11-09
    soldstatus $610,000 Closed
21. 2021-10-01
    status Pending
22. 2021-08-11
    listed $650,000 Active
23. 2021-05-31
    historical
24. 2020-11-30
    listed $650,000 Active
25. 2020-08-02
    historical
26. 2020-06-25
    price $569,000
27. 2020-04-01
    listed $599,000 Active
28. 2020-02-28
    historical
29. 2020-02-20
    listed $2,950,000
30. 2018-11-14
    historical
31. 2018-10-18
    listed $559,900 Active
32. 2018-07-09
    historical
33. 2018-05-15
    listed $559,900 Active
34. 2016-11-03
    soldstatus $424,000 Sold
35. 2016-11-02
    soldstatus $424,000
36. 2016-09-15
    status Pending
37. 2016-07-06
    price $424,900
38. 2016-06-03
    price $449,900
39. 2016-05-04
    listed $499,900 Active
40. 1995-09-07
    soldstatus $105,000
41. 1994-03-07
    soldstatus $79,000

ⓘ 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: $13,854 · $1,155/mo
• Projected year-2 tax: $13,854 · $1,155/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 AH · 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $229,812
• − Mortgage interest: −$57,136
• − Property taxes: −$13,854
• − Insurance: −$6,924
• − Repairs & maintenance: −$18,385
• − Management: −$18,385
• − Depreciation: −$29,673
• Taxable income: $85,455
• Est. tax owed @ 24.0%: −$20,509
• After-tax cash flow: $76,076/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): 13,243
• Household income: $92,485
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 761.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Slovak 3%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 10% Russian/Polish/Slavic 4% French/Haitian/Cajun 3%

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: ▼ -531.96%
• Current HPI: 386.0729
• Rent YoY: ▼ -0.43%
• 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

+1191.1% since first listed

29 events — show timeline

• 2026-02-19 Listed $1,020,000 MARMLS
• 2024-11-12 Listed $1,100,000 MARMLS
• 2024-08-31 Listing Removed — MARMLS
• 2024-05-13 Price Changed $1,090,000 MARMLS
• 2024-04-08 Listed $1,175,000 MARMLS
• 2022-08-29 Price Changed $3,190 RENT.
• 2021-11-16 Sold (Public Records) $610,000 Public Records
• 2021-11-09 Sold (MLS) $610,000 MARMLS
• 2021-10-01 Pending — MARMLS
• 2021-08-11 Listed $650,000 MARMLS
• 2021-05-31 Listing Removed — Beaches MLS
• 2020-11-30 Listed $650,000 Beaches MLS
• 2020-08-02 Listing Removed — Beaches MLS
• 2020-06-25 Price Changed $569,000 Beaches MLS
• 2020-04-01 Listed $599,000 Beaches MLS
• 2020-02-28 Listing Removed — MARMLS
• 2020-02-20 Listed $2,950,000 MARMLS
• 2018-11-14 Listing Removed — MARMLS
• 2018-10-18 Listed $559,900 MARMLS
• 2018-07-09 Listing Removed — MARMLS
• 2018-05-15 Listed $559,900 MARMLS
• 2016-11-03 Sold (MLS) $424,000 MARMLS
• 2016-11-02 Sold (Public Records) $424,000 Public Records
• 2016-09-15 Pending — MARMLS
• 2016-07-06 Price Changed $424,900 MARMLS
• 2016-06-03 Price Changed $449,900 MARMLS
• 2016-05-04 Listed $499,900 MARMLS
• 1995-09-07 Sold (Public Records) $105,000 Public Records
• 1994-03-07 Sold (Public Records) $79,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $13,854 · +15.2% YoY. Source: county tax records.