1045 SE 15th St Unit 13d · Fort Lauderdale, FL 33316

$135,000

2 bd · 1.0 ba · 800 sqft · Condo public records · 9 Days on market

Built 1958 $601/mo HOA

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Why this score? — see what drove the C 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 +14.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +4.4/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Priced to sell in coveted East Fort Lauderdale — east of US 1! Welcome to Cliff Lake Villas, a charming 55+ co-op community with only 4 units per building. This 2 bedroom, 1 bath second-floor unit offers easy Florida living. The kitchen features its own private exterior entrance with staircase. Being sold as-is - a great opportunity to make it your own. Investor friendly - can be rented immediately! A rare opportunity for income from day one. Located directly across from the waterway, where boat slips up to 30 ft may be rented when available. Walk to the beach, Intracoastal, water taxi, fine dining, and shops. Community offers a private pool and BBQ area, just minutes to the airport.

Key facts

• Boat slips
• Private pool
• Bbq area

Tags

• PRIVATE EXTERIOR ENTRANCE
• BOAT SLIPS
• PRIVATE POOL
• BBQ AREA

Property features AI

Finance

• Other: Resale condition
• Financial info: Pets allowed (cats OK)
• HOA & community: Part of the CLIFF LAKES association; HOA includes insurance, reserve funds, and pool service; Monthly HOA fee

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water connected
• Home design: Stock cooperative; One level; Entry at level 2; Faces south
• Construction: Built with block/CBS construction; Flat roof; 2-story building
• Exterior features: No waterfront; City street frontage (east of US-1); No other structures listed

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Freezer
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Concrete; Laminate; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fans; Wall/window air conditioning units
• Interior features: Kitchen island
• Laundry & utility: Common area laundry; Electric water heater

🏢 Co-op / cooperative unit. The $135,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $30 ($360/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 6.6% 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: Harbordale Elementary School (math 64% / reading 74%, grade A-, #399 of 2,144 statewide, top 19%, 487 students, 38% 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 at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 406 active listings in the ZIP; 40 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).

Forward outlook

• In year one you build about $7k of equity ($933 loan paydown + $6k appreciation (4.2% local appreciation)).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 4.5% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; HOA is 28% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.58% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.15% appreciation · 4.54% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.80×
• Total profit: $30,398
• Equity at exit: $69,614

10-year hold

• IRR: 15.6%
• Equity multiple: 3.69×
• Total profit: $101,569
• Equity at exit: $114,801

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 33316

• Home prices YoY: 1.3%
• Rents YoY: 4.5%
• Active inventory: 406
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$708
• Tax from tax record: −$295 /mo · $3,540/yr
• Insurance: −$56
• HOA: −$601
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $30

Break-even live

Break-even rent $2,101

Max offer price $135,000

Occupancy floor 94%

Sensitivity live

Price	-10% $106	-5% $68	+0% $30	+5% $-8	+10% $-46
Rent	-10% $-139	-5% $-54	+0% $30	+5% $115	+10% $199
Rate	-1.0pp $98	-0.5pp $64	base $30	+0.5pp $-5	+1.0pp $-41

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 SE 15th St #2 Fort Lauderdale, FL	1.0	1.0	580	$1,650	$2.84	25d	1	0.01mi
1020 SE 15th St Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	25d	1	0.02mi
1025 SE 15th St Unit 9D Fort Lauderdale, FL	2.0	1.0	800	$1,550	$1.94	25d	1	0.03mi
1025 SE 15th St Unit 9D Fort Lauderdale, FL	2.0	1.0	800	$1,550	$1.94	6d	1	0.03mi
1000 SE 15th St #103 Fort Lauderdale, FL	2.0	1.0	670	$2,000	$2.99	20d	1	0.04mi
1050 SE 15th St #202 Fort Lauderdale, FL	2.0	2.0	830	$2,850	$3.43	3d	1	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	565	$1,738	$3.08	25d	3	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	550	$1,672	$3.04	8d	2	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	550	$1,672	$3.04	12d	2	0.05mi
1050 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0–2.0	815	$2,850	$3.50	4d	2	0.06mi
1541 Cordova Rd #205 Fort Lauderdale, FL	1.0	1.0	600	$1,750	$2.92	25d	1	0.06mi
1125 SE 14th Pl Unit 21D Fort Lauderdale, FL	2.0	1.0	800	$1,650	$2.06	23d	1	0.10mi
1440 Miami Rd Unit 3 Fort Lauderdale, FL	1.0	1.0	650	$1,650	$2.54	25d	1	0.12mi
1401 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0	912	$2,750	$3.01	25d	1	0.13mi
1424 SE 15th St #11 Fort Lauderdale, FL	1.0	1.0	740	$1,900	$2.57	25d	1	0.14mi
749 SE 15th St Unit 6 Fort Lauderdale, FL	2.0	1.0	675	$2,000	$2.96	4d	1	0.15mi
749 SE 15th St Unit 10 Fort Lauderdale, FL	1.0	1.0	636	$1,700	$2.67	4d	1	0.15mi
749 SE 15th St Unit 10 Fort Lauderdale, FL	1.0	1.0	636	$1,700	$2.67	25d	1	0.15mi
1440 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0	575	$2,800	$4.87	25d	2	0.17mi
1429 Miami Rd Unit 3 Fort Lauderdale, FL	1.0	1.0	600	$1,600	$2.67	25d	1	0.17mi
727 SE 15th St Apt 5 Fort Lauderdale, FL	1.0	1.0	745	$2,185	$2.93	20d	1	0.17mi
820 SE 14th St Unit 1-2 Fort Lauderdale, FL	1.0	1.0	550	$2,200	$4.00	25d	1	0.17mi
717 SE 16th St #2 Fort Lauderdale, FL	1.0	1.0	600	$1,450	$2.42	25d	1	0.21mi
717 SE 16th St #2 Fort Lauderdale, FL	1.0	1.0	650	$1,350	$2.08	11d	1	0.21mi
717 SE 16th St #3 Fort Lauderdale, FL	1.0	1.0	650	$1,350	$2.08	0d	1	0.21mi
711 SE 15th St Unit 5 Fort Lauderdale, FL	2.0	2.0	900	$1,960	$2.18	25d	1	0.22mi
1405 Miami Rd #7 Fort Lauderdale, FL	1.0	1.0	622	$1,800	$2.89	3d	1	0.22mi
709 SE 15th St Unit 1 Fort Lauderdale, FL	1.0	1.0	552	$1,598	$2.89	25d	1	0.23mi
710 SE 16th St Unit A Fort Lauderdale, FL	1.0	1.0	700	$1,775	$2.54	25d	1	0.23mi
1510 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0–2.0	800	$2,650	$3.31	8d	2	0.26mi
1510 SE 15th St #106 Fort Lauderdale, FL	2.0	2.0	940	$2,650	$2.82	18d	1	0.30mi
1250 Miami Rd #10 Fort Lauderdale, FL	2.0	2.0	920	$2,300	$2.50	6d	1	0.30mi
1250 Miami Rd #11 Fort Lauderdale, FL	2.0	1.0	810	$2,050	$2.53	0d	1	0.30mi
1250 Miami Rd Fort Lauderdale, FL	2.0	1.0	810	$1,999	$2.47	25d	1	0.31mi
1525 SE 15th St #2 Fort Lauderdale, FL	1.0	1.0	565	$1,750	$3.10	25d	1	0.33mi
1531 SE 15th St Fort Lauderdale, FL	2.0	2.0	1008	$2,900	$2.88	25d	1	0.34mi
412 SE 15th St Unit 4 Fort Lauderdale, FL	2.0	1.0	1113	$2,299	$2.07	18d	1	0.39mi
410 SE 16th Ct Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,626	$2.23	0d	1	0.39mi
417 SE 14th Ct Unit 2 Fort Lauderdale, FL	1.0	1.0	550	$1,660	$3.02	25d	1	0.39mi
417 SE 14th Ct Unit 1 Fort Lauderdale, FL	1.0	1.0	550	$1,650	$3.00	3d	1	0.39mi

HOA detail condo

• Monthly dues: $601 · $7,212/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $135,000 Active 9 DOM
2. 2026-06-18
   days on market $135,000 Active 6 DOM
3. 2026-06-17
   days on market $135,000 Active 5 DOM
4. 2026-06-16
   days on market $135,000 Active 4 DOM
5. 2026-06-15
   days on market $135,000 Active 3 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $135,000 Active 1 DOM

ⓘ 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: $3,540 · $295/mo
• Projected year-2 tax: $3,540 · $295/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 4/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $25,674
• − Mortgage interest: −$7,562
• − Property taxes: −$3,540
• − Insurance: −$675
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − HOA: −$7,212
• − Depreciation: −$3,927
• Taxable loss: −$1,350
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $684/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): 12,437
• Household income: $96,641
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 770.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 8% Black 7% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 22% · Canada, Jamaica, Dominican Republic
• Languages at home: 80% English-only · Spanish 13% Tagalog/Filipino 2% Other Indo-European 1%

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: ▲ 4.15%
• Current HPI: 319.5598
• Rent YoY: ▲ 4.54%
• 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

• 2026-06-12 Listed $135,000 Beaches MLS

Property tax history

+6.9%/yr

Latest (2025): $3,540 · +5.3% YoY. Source: county tax records.