3801 NE 22nd Ter #5 · Lighthouse Point, FL 33064

$129,500

1 bd · 1.0 ba · 680 sqft · Condo public records · 1 Days on market

Built 1960 $267/mo HOA · 15% of rent

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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 +22.5/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WALK TO GROCERY & POST OFFICE-NO ADULT AGE RESTRICTION * * * EAST EXPOSURE--LOVELY GROUNDS PERFECT SEASONAL GETAWAY * * MAINT. PAID QUARTERLY ( $ 300 QUATERLY ) PLUS $ 50 QUATERLY FOR RSERVE FUND

Key facts

• One story building
• Central air heat
• Common area patio

Tags

• ONE STORY BUILDING
• CENTRAL AIR HEAT
• HURRICANE SHUTTERS
• COMMON AREA PATIO
• STORAGE RM
• COMMON LAUNDRY

Property features AI

Finance

• HOA & community: Association: VENETIAN ISLES CO-OP; Monthly association fee of $267; Association covers water, sewer, trash, grounds maintenance, common areas, roof repairs, legal/accounting, reserves; Community amenities include laundry, picnic area, parking, storage, bike storage; Community has 18 units; Pets allowed with possible size limits/restrictions

Exterior

• Parking: Assigned and common parking with guest spaces; Asphalt and gravel parking
• Utilities: Public water; Public sewer; Electricity with circuit breakers; Cable available; Phone available; Water and sewer connected
• Home design: Stock cooperative; One-story
• Construction: CBS construction
• Exterior features: Tile roof; Entry at ground/first level; City street frontage (east of US-1); Public maintained asphalt road; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Tile; Engineered wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air; Ceiling fans; Reverse cycle cooling
• Interior features: Custom mirrors; Blinds and jalousie/other window treatments
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $65 ($785/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 8.3% vs local median 2.4% in Lighthouse Point — 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 71/100 on livability (#384 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, cost of living F.
• 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: Norcrest Elementary School (math 39% / reading 43%, grade F, #1,454 of 2,144 statewide, top 69%, 672 students, 71% FRL); Deerfield Beach Middle School (math 30% / reading 39%, grade F, #421 of 571 statewide, top 74%, 1,140 students, 72% FRL); Deerfield Beach High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 2,251 students, 69% FRL) — zoned schools average 71% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 591 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 30% of the median local income ($71k/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 $895 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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 $22k; list at $130k implies a 476% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,500

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.75% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-18,739
• Equity at exit: $19,309

10-year hold

• IRR: -8.9%
• Equity multiple: 0.49×
• Total profit: $-18,618
• Equity at exit: $11,197

Cash invested: $36,260 (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 33064

• Home prices YoY: -18.7%
• Rents YoY: 1.8%
• Active inventory: 591
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,793 high
• Mortgage (P&I): −$679
• Tax from tax record: −$199 /mo · $2,389/yr
• Insurance: −$54
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$267
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $65

Break-even live

Break-even rent $1,710

Max offer price $129,500

Occupancy floor 91%

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3700 NE 22nd Ave Unit 3720-11 Lighthouse Point, FL	1.0	1.0	650	$1,825	$2.81	24d	1	0.10mi
2120 NE 41st St Unit C Lighthouse Point, FL	1.0	1.0	650	$1,675	$2.58	24d	1	0.25mi
2115 NE 42nd Ct Unit 206N Lighthouse Point, FL	1.0	1.0	560	$1,600	$2.86	24d	1	0.47mi
1671 NE 33rd St Unit 3 Pompano Beach, FL	2.0	2.0	750	$2,200	$2.93	24d	1	0.58mi
1671 NE 33rd St Apt 1 Pompano Beach, FL	1.0	1.0	750	$1,650	$2.20	24d	1	0.58mi
1480 E Sample Rd Pompano Beach, FL	1.0	1.0	640	$1,550	$2.42	15d	2	0.69mi
1480 E Sample Rd #207 Pompano Beach, FL	1.0	1.0	640	$1,600	$2.50	24d	1	0.69mi
1751 NE 31st St Pompano Beach, FL	1.0	1.0	642	$1,595	$2.48	15d	1	0.71mi
4611 N Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	969	$2,110	$2.18	1d	9	0.75mi
1330 NE 41st Dr #2 Pompano Beach, FL	1.0	1.0	400	$1,750	$4.38	11d	1	0.77mi
1901 NE 29th St #2 Lighthouse Point, FL	1.0	1.0	700	$1,600	$2.29	24d	1	0.77mi
2900 NE 17th Ave Pompano Beach, FL	1.0	1.0	650	$1,745	$2.68	11d	1	0.80mi
1960 NE 48th St Unit 9 Pompano Beach, FL	1.0	1.0	700	$1,500	$2.14	22d	1	0.85mi
1850 NE 48th St Pompano Beach, FL	1.0–3.0	1.0–1.5	827	$1,650	$1.99	24d	1	0.86mi
1150 E Sample Rd #202 Pompano Beach, FL	1.0	1.0	640	$1,650	$2.58	24d	1	0.94mi
2234 NE 27th St Lighthouse Point, FL	1.0	1.0	500	$2,250	$4.50	24d	1	0.96mi
1512 NE 28th St Pompano Beach, FL	2.0	1.0	624	$2,500	$4.01	24d	1	1.03mi
3300 NE 10th Ter Pompano Beach, FL	1.0	1.0	674	$1,525	$2.26	15d	1	1.04mi
2633 NE 13th Ave Unit 1 Pompano Beach, FL	2.0	1.0	650	$2,300	$3.54	20d	1	1.24mi
2508 Bay Dr #112 Pompano Beach, FL	1.0	1.0	636	$2,200	$3.46	24d	1	1.36mi
1417 SE 3rd Ter Deerfield Beach, FL	1.0	1.0	570	$1,300	$2.28	11d	1	1.45mi

HOA detail condo

• Monthly dues: $267 · $3,204/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-07
   historical $1,500
2. 2026-05-06
   status Pending
3. 2026-05-05
   listed $129,500 Active
4. 2026-04-10
   listed $1,500
5. 2000-01-11
   soldstatus $22,500 206-char remark

   Show marketing remark (206 chars)

   WALK TO GROCERY & POST OFFICE-NO ADULT AGE RESTRICTION * * * EAST EXPOSURE--LOVELY GROUNDS PERFECT SEASONAL GETAWAY * * MAINT. PAID QUARTERLY ( $ 300 QUATERLY ) PLUS $ 50 QUATERLY FOR RSERVE FUND

6. 1999-12-20
   historical 206-char remark

   Show marketing remark (206 chars)

   WALK TO GROCERY & POST OFFICE-NO ADULT AGE RESTRICTION * * * EAST EXPOSURE--LOVELY GROUNDS PERFECT SEASONAL GETAWAY * * MAINT. PAID QUARTERLY ( $ 300 QUATERLY ) PLUS $ 50 QUATERLY FOR RSERVE FUND

7. 1999-11-09
   listed $24,000 206-char remark

   Show marketing remark (206 chars)

   WALK TO GROCERY & POST OFFICE-NO ADULT AGE RESTRICTION * * * EAST EXPOSURE--LOVELY GROUNDS PERFECT SEASONAL GETAWAY * * MAINT. PAID QUARTERLY ( $ 300 QUATERLY ) PLUS $ 50 QUATERLY FOR RSERVE FUND

ⓘ 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: $2,389 · $199/mo
• Projected year-2 tax: $2,389 · $199/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 6/10 Major FEMA zone AH · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,519
• − Mortgage interest: −$7,254
• − Property taxes: −$2,389
• − Insurance: −$2,472
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − HOA: −$3,204
• − Depreciation: −$3,767
• Taxable loss: −$1,011
• Est. tax savings @ 24.0%: +$243
• After-tax cash flow: $1,028/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 — Lighthouse Point

• Score: 71/100
• State rank: #384
• US rank: #6803

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing C+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lighthouse Point, FL
• County: Broward County · 1,963,430 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 64,563
• Household income: $71,301
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 2907.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 34% Hispanic / Latino 27% Black 25% Two or more races 24% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 13% Estonian 10% Romanian 1%
• Foreign-born: 43% · Canada, Jamaica, Dominican Republic
• Languages at home: 45% English-only · Spanish 23% French/Haitian/Cajun 16% Other Indo-European 13%

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: ▼ -109.09%
• Current HPI: 474.7007
• Rent YoY: ▲ 1.75%
• 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

-93.8% since first listed

7 events — show timeline

• 2026-05-07 Rental Removed $1,500 GFLMLS
• 2026-05-06 Pending — Beaches MLS
• 2026-05-05 Listed $129,500 Beaches MLS
• 2026-04-10 Listed for Rent $1,500 GFLMLS
• 2000-01-11 Sold (MLS) $22,500 Beaches MLS
• 1999-12-20 Listing Removed — Beaches MLS
• 1999-11-09 Listed $24,000 Beaches MLS

Property tax history

+9.9%/yr

Latest (2025): $2,389 · +8.8% YoY. Source: county tax records.