2864 NE 33rd Ct · Fort Lauderdale, FL 33306

$259,900

1 bd · 1.0 ba · 723 sqft · Condo · 34 Days on market

Built 1962 Good condition $451/mo HOA · 17% of rent

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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 +11.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• DSCR +3.2/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional waterfront living in one of Fort Lauderdale's most desirable locations. This bright & inviting 1-bed/1-bath residence offers picturesque views of the pool, tranquil canal, and Intracoastal Waterway. The thoughtfully updated kitchen showcases white cabinetry, granite and stainless appliances. A spacious primary bedroom includes a large walk-in closet plus an additional closet for extra storage. Ideally situated just moments from Coral Ridge Mall featuring TJ Maxx, HomeGoods, Target & Marshalls. Enjoy an array of nearby family-owned restaurants and cafes all within walking distance. The beach is less than a mile away, making it easy to enjoy the best of Fort Lauderdale

Key facts

• Waterfront living
• Updated kitchen
• Large walk-in closet

Tags

• WATERFRONT LIVING
• UPDATED KITCHEN
• LARGE WALK-IN CLOSET
• CONVENIENT BEACH PARKING

Property features AI

Finance

• Other: Resale condition
• HOA & community: Has association; Quarterly association fee; Association amenities include parking, pool, community room and maintenance; Association fee covers grounds and structure maintenance, trash, water, common areas and pool service

Exterior

• Parking: Assigned parking on asphalt; 1 parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water available; Sewer connected
• Home design: Stock cooperative; One level entry (first floor entry); North-facing
• Construction: Block and pre-cast concrete construction; Tile roof; Piling foundation; 2 total stories (building)
• Exterior features: Screened porch; Porch; Back yard fencing; Private heated in-ground pool; East of US-1 road frontage; Waterfront with no fixed bridge

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); Blinds; Smoke detector(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (6.2% below list).
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.2% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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 flat; 67 active listings in the ZIP; 9 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 34% of the median local income ($96k/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 $8k 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 34 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.

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 $243,774 (6.2% 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 34 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.04% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-55,296
• Equity at exit: $38,752

10-year hold

• IRR: -27.2%
• Equity multiple: -0.11×
• Total profit: $-81,028
• Equity at exit: $22,471

Cash invested: $72,772 (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 33306

• Rents YoY: 0.6%
• Active inventory: 67
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,703 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$451
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $-111

Break-even live

Break-even rent $2,844

Max offer price $243,774

Occupancy floor 99%

Sensitivity live

Price	-10% $68	-5% $-22	+0% $-111	+5% $-201	+10% $-291
Rent	-10% $-325	-5% $-218	+0% $-111	+5% $-5	+10% $102
Rate	-1.0pp $19	-0.5pp $-45	base $-111	+0.5pp $-179	+1.0pp $-247

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3020 NE 32nd Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	920	$3,200	$3.48	5d	4	0.27mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	0.76mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	5d	3	0.76mi
3333 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	736	$2,677	$3.63	2d	13	0.78mi
3411 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	754	$2,885	$3.83	3d	59	0.84mi
2033 NE 33rd Ave Unit 3 Fort Lauderdale, FL	1.0	1.0	750	$2,900	$3.87	24d	1	0.97mi
1821 Middle River Dr Unit 2 Fort Lauderdale, FL	1.0	1.0	700	$2,000	$2.86	24d	1	1.36mi
1812 NE 20th Ave Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	5d	1	1.49mi
1812 NE 20th Ave Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	24d	1	1.49mi

HOA detail condo

• Monthly dues: $451 · $5,412/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $259,900 Active 34 DOM
2. 2026-06-17
   days on market $259,900 Active 33 DOM
3. 2026-06-16
   days on market $259,900 Active 32 DOM
4. 2026-06-15
   days on market $259,900 Active 31 DOM
5. 2026-06-13
   days on market $259,900 Active 29 DOM
6. 2026-06-09
   days on market $259,900 Active 25 DOM
7. 2026-06-08
   days on market $259,900 Active 24 DOM
8. 2026-06-07
   days on market $259,900 Active 23 DOM
9. 2026-06-04
   days on market $259,900 Active 20 DOM
10. 2026-06-03
    days on market $259,900 Active 19 DOM
11. 2026-06-02
    days on market $259,900 Active 18 DOM
12. 2026-06-01
    days on market $259,900 Active 17 DOM
13. 2026-05-31
    days on market $259,900 Active 16 DOM
14. 2026-05-15
    listed $259,900 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 5/10 Major FEMA zone X (shaded) · 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: $32,441
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,595
• − Management: −$2,595
• − HOA: −$5,412
• − Depreciation: −$7,561
• Taxable loss: −$5,479
• Est. tax savings @ 24.0%: +$1,315
• After-tax cash flow: $-22/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This waterfront condo is in excellent condition with minimal updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and enhances waterfront view
• Both New flooring in kitchen and bathrooms — Improves aesthetics and functionality
• Both New countertops in kitchen — Enhances aesthetics and functionality
• Both New lighting fixtures throughout — Enhances aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and enhances waterfront view ↑
• Both New flooring in kitchen and bathrooms — Improves aesthetics and functionality ↑
• Both New countertops in kitchen — Enhances aesthetics and functionality ↑
• Both New lighting fixtures throughout — Enhances aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 2,978
• Household income: $95,542
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 163.0

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 13% Two or more races 13% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Romanian 6% Iranian 4% Scandinavian 3%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 11% Russian/Polish/Slavic 4% German/W. Germanic 4%

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: ▼ -442.32%
• Current HPI: 376.9895
• Rent YoY: ▲ 0.59%
• 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

1 event — show timeline

• 2026-05-15 Listed $259,900 Beaches MLS