1610-1612 NE 56th St · Fort Lauderdale, FL 33334

$790,000

None bd · None ba · 2,114 sqft · MultiFamily · 102 Days on market

Built 1964 ↓ 2% since listing

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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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rarely available updated duplex located in exclusive Coral Ridge Isles. Each unit has identical floor plan offering 2 oversized bedrooms w/ large walk-in closets & private baths in each room, updated kitchens, new appliances, private screened patios & fenced yards, separate W & D in laundry room, separate updated electric meters (2019) & separate water meters. Brand new (2025) PVC plumbing (no cast iron pipes). Central A/C. Duplex is fully rented on leases. Duplex offers ample parking on circular - paver driveway. Nicely landscaped. Great location within 3 miles from Ft. Lauderdale beach! Great tenants on leases.

Key facts

• Oversized bedrooms
• Updated duplex
• New appliances

Tags

• UPDATED DUPLEX
• OVERSIZED BEDROOMS
• LARGE WALK-IN CLOSETS
• PRIVATE BATHS
• UPDATED KITCHENS
• NEW APPLIANCES

Property features AI

Finance

• Other:
• Financial info: Two total units; Gross scheduled income: $56,400; Part of a 22-unit community
• HOA & community: Association provides laundry; Association fee includes grounds maintenance, sewer, trash, and water

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Single-story; Resale property
• Construction: CBS construction; Barrel / Spanish tile roof
• Exterior features: Screened porch; Patio; Porch; Fenced yard; Fruit trees on lot; Not waterfront

Interior

• Kitchen:
• Bedrooms:
• Flooring: Tile
• Bathrooms:
• Heating & cooling: Central heating (electric) with separate meters; Central air conditioning (electric); Ceiling fans
• Interior features: Tile flooring; Blinds
• Laundry & utility: Laundry available via association

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $790k.

Deal economics

• At list price, monthly cash flow is $40 ($486/yr) — positive. Per door: $20/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $696k (11.9% below list).
• Recommended offer: $696k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 356 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 $6,962/mo this rent would consume 111% of the median local household income ($75k/yr) (locally 1755% 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 $5k of loan paydown is wiped out by about $24k 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 102 days — a 9% lower offer ($719k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $696,200 (11.9% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 12% 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 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.88% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-132,199
• Equity at exit: $117,792

10-year hold

• IRR: -10.9%
• Equity multiple: 0.37×
• Total profit: $-138,995
• Equity at exit: $68,305

Cash invested: $221,200 (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 33334

• Home prices YoY: -34.6%
• Rents YoY: 2.0%
• Active inventory: 356
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $6,962 high
• Mortgage (P&I): −$4,143
• Tax est. 1.5%: −$988 /mo · $11,850/yr
• Insurance: −$329
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,462
• Net cashflow: $40

Break-even live

Break-even rent $6,911

Max offer price $790,000

Occupancy floor 94%

Sensitivity live

Price	-10% $586	-5% $313	+0% $40	+5% $-233	+10% $-505
Rent	-10% $-510	-5% $-235	+0% $40	+5% $315	+10% $590
Rate	-1.0pp $438	-0.5pp $241	base $40	+0.5pp $-164	+1.0pp $-372

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,962
Total (2 units)			$6,962

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: $197,500
• Closing costs: $23,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1478 NE 57th St Fort Lauderdale, FL	3.0	2.0	1590	$5,400	$3.40	26d	1	0.17mi
1761 NE 52nd St Unit 1-2 Oakland Park, FL	2.0	2.0	2028	$3,650	$1.80	26d	1	0.23mi
5501 NE 18th Ter Fort Lauderdale, FL	3.0	3.0	1942	$6,400	$3.30	26d	1	0.23mi
1466 NE 57th Ct Fort Lauderdale, FL	3.0	2.0	2020	$8,200	$4.06	26d	1	0.24mi
1466 NE 57th Ct Unit 1044539P Fort Lauderdale, FL	3.0	2.0	2012	$6,185	$3.07	9d	1	0.24mi
1424 NE 53rd Ct Fort Lauderdale, FL	3.0	2.0	1584	$7,500	$4.73	26d	1	0.29mi
5200 NE 15th Ave Fort Lauderdale, FL	3.0	2.0	1585	$4,600	$2.90	26d	1	0.30mi
1412 NE 53rd Ct Fort Lauderdale, FL	3.0	2.0	2267	$6,910	$3.05	4d	1	0.32mi
5700 NE 20th Ave Fort Lauderdale, FL	3.0	2.0	2300	$5,575	$2.42	26d	1	0.42mi
2010 NE 57th St Fort Lauderdale, FL	3.0	2.0	1730	$6,000	$3.47	24d	1	0.43mi
5921 NE 15th Ave Fort Lauderdale, FL	3.0	3.0	1977	$4,600	$2.33	26d	1	0.43mi
5790 NE 20th Ter Fort Lauderdale, FL	3.0	2.0	1874	$6,000	$3.20	26d	1	0.52mi
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	26d	1	0.63mi
1601 NE 63rd St Fort Lauderdale, FL	3.0	2.0	1875	$6,125	$3.27	26d	1	0.68mi
5910 NE 21st Way Fort Lauderdale, FL	3.0	2.0	1823	$4,950	$2.72	24d	1	0.68mi
1961 NE 62nd Ct Fort Lauderdale, FL	3.0	2.0	1630	$7,000	$4.29	26d	1	0.69mi
6251 NE 20th Ter Fort Lauderdale, FL	3.0	3.0	1954	$7,000	$3.58	14d	1	0.73mi
2101 NE 63rd St Unit 2101 Fort Lauderdale, FL	3.0	2.0	1805	$4,925	$2.73	22d	1	0.84mi
2101 NE 63rd St Unit 2101 Fort Lauderdale, FL	3.0	2.0	1805	$4,750	$2.63	1d	1	0.84mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	6d	1	0.89mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	26d	1	0.89mi
4511 NE 13th Ave Oakland Park, FL	2.0	2.0	1400	$3,200	$2.29	9d	1	0.89mi
100 SW 17th St Pompano Beach, FL	3.0	2.0	1788	$4,500	$2.52	26d	1	0.90mi
100 SW 17th St Pompano Beach, FL	3.0	2.0	1788	$4,500	$2.52	9d	1	0.90mi
2080 NE 65th St Fort Lauderdale, FL	3.0	2.0	1725	$5,000	$2.90	17d	1	0.91mi
2080 NE 65th St Fort Lauderdale, FL	3.0	2.0	1725	$5,250	$3.04	26d	1	0.91mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	26d	1	0.94mi
5225 NE 4th Ave Fort Lauderdale, FL	3.0	2.0	1650	$3,300	$2.00	14d	1	1.02mi
4850 NE 25th Ave Fort Lauderdale, FL	3.0	2.5	2250	$3,995	$1.78	1d	1	1.05mi
4360 NE 13th Ave Oakland Park, FL	3.0	2.0	1459	$3,700	$2.54	7d	1	1.05mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	19d	1	1.09mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	24d	1	1.09mi
2260 NE 62nd St Fort Lauderdale, FL	3.0	2.0	1807	$4,750	$2.63	13d	1	1.10mi
6341 NE 22nd Ave Fort Lauderdale, FL	3.0	2.0	2086	$5,500	$2.64	17d	1	1.11mi
5251 NE 29th Ave Fort Lauderdale, FL	3.0	3.0	2985	$11,900	$3.99	26d	1	1.12mi
342 SW 14th St Pompano Beach, FL	3.0	2.0	1458	$5,000	$3.43	26d	1	1.12mi
5721 Bayview Dr Fort Lauderdale, FL	3.0	2.0	2188	$9,500	$4.34	1d	1	1.26mi
4761 Bayview Dr Fort Lauderdale, FL	3.0	2.0	2031	$7,250	$3.57	26d	1	1.31mi
3010 NE 58th St Fort Lauderdale, FL	3.0	3.0	2887	$14,000	$4.85	16d	1	1.33mi
682 NE 43rd St Oakland Park, FL	3.0	2.5	1694	$4,200	$2.48	26d	1	1.33mi

Listing history 16 events

1. 2026-06-21
   days on market $790,000 Active 102 DOM
2. 2026-06-18
   days on market $790,000 Active 99 DOM
3. 2026-06-18
   price $790,000 Active 98 DOM
4. 2026-06-17
   days on market $825,000 Active 98 DOM
5. 2026-06-16
   days on market $825,000 Active 97 DOM
6. 2026-06-15
   days on market $825,000 Active 96 DOM
7. 2026-06-13
   days on market $825,000 Active 94 DOM
8. 2026-06-09
   days on market $825,000 Active 90 DOM
9. 2026-06-07
   days on market $825,000 Active 88 DOM
10. 2026-06-04
    days on market $825,000 Active 85 DOM
11. 2026-06-03
    days on market $825,000 Active 84 DOM
12. 2026-06-02
    days on market $825,000 Active 83 DOM
13. 2026-06-01
    days on market $825,000 Active 82 DOM
14. 2026-05-31
    days on market $825,000 Active 81 DOM
15. 2026-05-11
    price $825,000
16. 2026-02-03
    listed $845,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $83,544
• − Mortgage interest: −$44,252
• − Property taxes: −$11,850
• − Insurance: −$3,950
• − Repairs & maintenance: −$6,684
• − Management: −$6,684
• − Depreciation: −$22,982
• Taxable loss: −$12,857
• Est. tax savings @ 24.0%: +$3,086
• After-tax cash flow: $3,571/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): 30,935
• Household income: $75,361
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1755.0

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: White 43% Hispanic / Latino 32% Two or more races 25% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 5% Lithuanian 3% Romanian 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 59% English-only · Spanish 28% Other Indo-European 5% French/Haitian/Cajun 5%

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: ▼ -208.58%
• Current HPI: 394.9526
• Rent YoY: ▲ 2.01%
• 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

-2.4% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $825,000 Beaches MLS
• 2026-02-03 Listed $845,000 Beaches MLS