2106 NE 56th Ct #107 · Fort Lauderdale, FL 33308

$135,000

1 bd · 1.0 ba · 600 sqft · Condo public records · 102 Days on market

Built 1966 $270/mo HOA · 10% of rent

---

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
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location in this quiet, well-maintained complex, less than 2 miles from the Lauderdale-by-the-Sea beach. True 1-bed unit w/ walk in closet, large living/dining room. Bring Your contractor and Personalize this ground floor walk-up unit with your style, and make it your weekend getaway, or your full-time residence. Short distance to shopping, the beaches, and restaurants. Low maintenance fee only $229 / month includes water/sewer/heated pool/BBQ area/insurance. Parking space directly in front of your unit. Plenty of equity, the same model unit just sold for $162,000. NO RENTING, NO PETS , NO FINANCING ALLOWED BY HOA. * * multiple full price offers received. Highest and best due 12/27/23 * *

Key facts

• Prime location
• $270 HOA
• 2 parking spots

Tags

• PRIME LOCATION
• CLOSE PROXIMITY TO BEACHES
• ABUNDANCE OF SHOPPING
• EASY ACCESS TO MAJOR HIGHWAYS
• VIBRANT DOWNTOWN AREA

Property features AI

Finance

• Other: Near commercial areas and US-1
• Financial info: No land lease
• HOA & community: Association amenities include picnic area and maintenance; HOA fee $270 monthly (includes structure maintenance and common areas)

Exterior

• Parking: Assigned parking; 2 open parking spaces
• Security: Fire alarm; Smoke detectors
• Utilities: Has cooling (wall/window units); Electric water heater
• Home design: Stock cooperative; Resale property; 2 stories; Entry at first floor
• Construction: Block/CBS construction
• Exterior features: Open porch; Porch; First-floor entry; Not waterfront

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 1 bedroom on the main level
• Flooring: Concrete
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Wall/window cooling units
• Interior features: Electric water heater; Concrete flooring; Fire alarm and smoke detectors
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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 rising (+3.6%/yr); 746 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 35% of the median local income ($94k/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 $933 of loan paydown is wiped out by about $4k 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 + 3.6% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $100k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $122,850 (9.0% 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 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
9. 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.
10. 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: 2.01% ✓
• Cap rate: 14.45%
• Cash-on-cash: 29.14%
• DSCR: 2.30
• GRM: 4.2

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: 24.5%
• Equity multiple: 2.02×
• Total profit: $38,527
• Equity at exit: $20,129

10-year hold

• IRR: 32.8%
• Equity multiple: 4.09×
• Total profit: $116,887
• Equity at exit: $11,672

Cash invested: $37,800 (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: 746
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,708 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$187 /mo · $2,249/yr
• Insurance: −$56
• HOA: −$270
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $918

Break-even live

Break-even rent $1,546

Max offer price $135,000

Occupancy floor 61%

Sensitivity live

Price	-10% $994	-5% $956	+0% $918	+5% $880	+10% $841
Rent	-10% $704	-5% $811	+0% $918	+5% $1,025	+10% $1,132
Rate	-1.0pp $986	-0.5pp $952	base $918	+0.5pp $883	+1.0pp $847

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	18d	1	1.44mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,963	$2.52	2d	40	1.47mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: watersewerpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $135,000 Active 102 DOM
2. 2026-06-18
   days on market $135,000 Active 99 DOM
3. 2026-06-17
   days on market $135,000 Active 98 DOM
4. 2026-06-16
   days on market $135,000 Active 97 DOM
5. 2026-06-15
   days on market $135,000 Active 96 DOM
6. 2026-06-13
   days on market $135,000 Active 94 DOM
7. 2026-06-09
   days on market $135,000 Active 90 DOM
8. 2026-06-07
   days on market $135,000 Active 88 DOM
9. 2026-06-04
   days on market $135,000 Active 85 DOM
10. 2026-06-03
    days on market $135,000 Active 84 DOM
11. 2026-06-02
    days on market $135,000 Active 83 DOM
12. 2026-06-01
    days on market $135,000 Active 82 DOM
13. 2026-05-31
    days on market $135,000 Active 81 DOM
14. 2024-07-20
    listed $135,000 Active
15. 2024-03-19
    soldstatus $100,000 Closed 705-char remark

    Show marketing remark (705 chars)

    Great location in this quiet, well-maintained complex, less than 2 miles from the Lauderdale-by-the-Sea beach. True 1-bed unit w/ walk in closet, large living/dining room. Bring Your contractor and Personalize this ground floor walk-up unit with your style, and make it your weekend getaway, or your full-time residence. Short distance to shopping, the beaches, and restaurants. Low maintenance fee only $229 / month includes water/sewer/heated pool/BBQ area/insurance. Parking space directly in front of your unit. Plenty of equity, the same model unit just sold for $162,000. NO RENTING, NO PETS , NO FINANCING ALLOWED BY HOA. * * multiple full price offers received. Highest and best due 12/27/23 * *

16. 2023-12-28
    historical Active Under Contract 705-char remark

    Show marketing remark (705 chars)

    Great location in this quiet, well-maintained complex, less than 2 miles from the Lauderdale-by-the-Sea beach. True 1-bed unit w/ walk in closet, large living/dining room. Bring Your contractor and Personalize this ground floor walk-up unit with your style, and make it your weekend getaway, or your full-time residence. Short distance to shopping, the beaches, and restaurants. Low maintenance fee only $229 / month includes water/sewer/heated pool/BBQ area/insurance. Parking space directly in front of your unit. Plenty of equity, the same model unit just sold for $162,000. NO RENTING, NO PETS , NO FINANCING ALLOWED BY HOA. * * multiple full price offers received. Highest and best due 12/27/23 * *

17. 2023-12-09
    listed $100,000 Active 705-char remark

    Show marketing remark (705 chars)

    Great location in this quiet, well-maintained complex, less than 2 miles from the Lauderdale-by-the-Sea beach. True 1-bed unit w/ walk in closet, large living/dining room. Bring Your contractor and Personalize this ground floor walk-up unit with your style, and make it your weekend getaway, or your full-time residence. Short distance to shopping, the beaches, and restaurants. Low maintenance fee only $229 / month includes water/sewer/heated pool/BBQ area/insurance. Parking space directly in front of your unit. Plenty of equity, the same model unit just sold for $162,000. NO RENTING, NO PETS , NO FINANCING ALLOWED BY HOA. * * multiple full price offers received. Highest and best due 12/27/23 * *

ⓘ 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: $2,249 · $187/mo
• Projected year-2 tax: $2,249 · $187/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 3/10 Moderate FEMA zone X (shaded) · 12% 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: $32,497
• − Mortgage interest: −$7,562
• − Property taxes: −$2,249
• − Insurance: −$675
• − Repairs & maintenance: −$2,600
• − Management: −$2,600
• − HOA: −$3,240
• − Depreciation: −$3,927
• Taxable income: $9,645
• Est. tax owed @ 24.0%: −$2,315
• After-tax cash flow: $8,699/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

+35.0% since first listed

4 events — show timeline

• 2024-07-20 Listed $135,000 Beaches MLS
• 2024-03-19 Sold (MLS) $100,000 MARMLS
• 2023-12-28 Contingent — MARMLS
• 2023-12-09 Listed $100,000 MARMLS

Property tax history

+6.5%/yr

Latest (2025): $2,249 · +7.4% YoY. Source: county tax records.