5208 NE 24th Ter Unit F118 · Fort Lauderdale, FL 33308

$224,900

2 bd · 1.0 ba · 875 sqft · Condo public records · 99 Days on market

Built 1965 $520/mo HOA · 14% of rent

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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 +29.6/30.0
• 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 EAST OF US1. UPDATED 2 BEDROOM, 1 BATH WITH MODERN KITCHEN, BEAUTIFUL GRANITE COUNTERTOP , IMPACT WINDOWS, UPDATED BATHROOMS, NEW ELECTRIC PANEL, FACING THE BEAUTIFUL COMMUNITY GARDEN, JUST STEPS FROM THE POOl AND CLUBHOUSE. EASY WALK TO SHOPS, BUS LINE AND BEACH. GREAT LAYOUT, GREAT LOCATION, ALL AGES, READY FOR A NEW HOMEOWNER-MUST SEE. FINANCING AVAILABLE! Located minutes from hospitals, amazing restaurants, and the beaches of Lauderdale by the Sea, this condo offers everything you need for the ultimate South Florida lifestyle. The association requires a 700 credit score and does not permit rentals.

Key facts

• Modern kitchen
• Granite countertops
• Steps from the pool

Tags

• HIGHLY WALKABLE LOCATION
• MODERN KITCHEN
• GRANITE COUNTERTOPS
• IMPACT WINDOWS
• UPDATED BATHROOM
• STEPS FROM THE POOL

Property features AI

Finance

• Other: No land lease
• HOA & community: Has association; HOA fee: $520 monthly; Association amenities include pool, picnic area, shuffleboard court, parking, maintenance, elevator, recreation facility, pool service; HOA covers grounds maintenance, pest control, sewer, trash, water, elevator, legal/accounting, recreation facility, pool service

Exterior

• Parking: Assigned parking; Detached carport; Guest parking; Garage (detached garage available)
• Utilities: Water included in association fee; Sewer included in association fee; Electric service; Has heating and cooling
• Home design: Condominium; Resale; 3-story building; Entry level: 1
• Construction: Block construction
• Exterior features: Patio; First-floor entry; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (main level)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Unfurnished; Tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Mcnab Elementary School (math 51% / reading 63%, grade C+, #781 of 2,144 statewide, top 38%, 614 students, 56% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL).
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $3,650/mo this rent would consume 47% of the median local household income ($94k/yr) (locally 912% 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 $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $204,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1965 — 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: 1.62% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 5.1

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: 7.1%
• Equity multiple: 1.28×
• Total profit: $17,750
• Equity at exit: $33,533

10-year hold

• IRR: 17.2%
• Equity multiple: 2.48×
• Total profit: $92,961
• Equity at exit: $19,445

Cash invested: $62,972 (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: 739
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,650 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$282 /mo · $3,388/yr
• Insurance: −$94
• HOA: −$520
• Vacancy / Maint / Mgmt: −$767
• Net cashflow: $808

Break-even live

Break-even rent $2,627

Max offer price $224,900

Occupancy floor 73%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 Bayview Dr #303 Fort Lauderdale, FL	2.0	2.0	1032	$3,500	$3.39	24d	1	0.41mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	24d	1	0.84mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	1.07mi
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	24d	1	1.08mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	24d	1	1.10mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	24d	1	1.13mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	15d	1	1.13mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	2d	16	1.14mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	24d	1	1.17mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	24d	1	1.20mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,694	$2.47	2d	17	1.26mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	22d	1	1.38mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	3d	1	1.38mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.38mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.38mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	20d	1	1.41mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	1d	1	1.41mi
3900 Galt Ocean Dr Fort Lauderdale, FL	2.0	1.5–2.0	1429	$4,675	$3.27	16d	3	1.42mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	17d	4	1.42mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	20d	3	1.46mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1000	$6,500	$6.50	2d	3	1.46mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	16d	4	1.46mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	24d	1	1.46mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$3,716	$3.16	1d	40	1.47mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	5d	6	1.49mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	15d	6	1.49mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,250	$3.97	3d	7	1.49mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,750	$3.22	20d	3	1.50mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,800	$3.26	7d	2	1.50mi

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $224,900 Active 99 DOM
2. 2026-06-17
   days on market $224,900 Active 98 DOM
3. 2026-06-16
   days on market $224,900 Active 97 DOM
4. 2026-06-15
   days on market $224,900 Active 96 DOM
5. 2026-06-13
   days on market $224,900 Active 94 DOM
6. 2026-06-09
   days on market $224,900 Active 90 DOM
7. 2026-06-07
   days on market $224,900 Active 88 DOM
8. 2026-06-04
   days on market $224,900 Active 85 DOM
9. 2026-06-03
   days on market $224,900 Active 84 DOM
10. 2026-06-02
    days on market $224,900 Active 83 DOM
11. 2026-06-01
    days on market $224,900 Active 82 DOM
12. 2026-05-31
    days on market $224,900 Active 81 DOM
13. 2026-03-05
    listed $224,900 Active
14. 2023-12-12
    soldstatus $215,000
15. 2023-12-11
    soldstatus $215,000 Closed 624-char remark

    Show marketing remark (624 chars)

    GREAT LOCATION EAST OF US1. UPDATED 2 BEDROOM, 1 BATH WITH MODERN KITCHEN, BEAUTIFUL GRANITE COUNTERTOP , IMPACT WINDOWS, UPDATED BATHROOMS, NEW ELECTRIC PANEL, FACING THE BEAUTIFUL COMMUNITY GARDEN, JUST STEPS FROM THE POOl AND CLUBHOUSE. EASY WALK TO SHOPS, BUS LINE AND BEACH. GREAT LAYOUT, GREAT LOCATION, ALL AGES, READY FOR A NEW HOMEOWNER-MUST SEE. FINANCING AVAILABLE! Located minutes from hospitals, amazing restaurants, and the beaches of Lauderdale by the Sea, this condo offers everything you need for the ultimate South Florida lifestyle. The association requires a 700 credit score and does not permit rentals.

16. 2023-11-15
    status Pending 624-char remark

    Show marketing remark (624 chars)

    GREAT LOCATION EAST OF US1. UPDATED 2 BEDROOM, 1 BATH WITH MODERN KITCHEN, BEAUTIFUL GRANITE COUNTERTOP , IMPACT WINDOWS, UPDATED BATHROOMS, NEW ELECTRIC PANEL, FACING THE BEAUTIFUL COMMUNITY GARDEN, JUST STEPS FROM THE POOl AND CLUBHOUSE. EASY WALK TO SHOPS, BUS LINE AND BEACH. GREAT LAYOUT, GREAT LOCATION, ALL AGES, READY FOR A NEW HOMEOWNER-MUST SEE. FINANCING AVAILABLE! Located minutes from hospitals, amazing restaurants, and the beaches of Lauderdale by the Sea, this condo offers everything you need for the ultimate South Florida lifestyle. The association requires a 700 credit score and does not permit rentals.

17. 2023-10-19
    listed $220,988 Active 624-char remark

    Show marketing remark (624 chars)

    GREAT LOCATION EAST OF US1. UPDATED 2 BEDROOM, 1 BATH WITH MODERN KITCHEN, BEAUTIFUL GRANITE COUNTERTOP , IMPACT WINDOWS, UPDATED BATHROOMS, NEW ELECTRIC PANEL, FACING THE BEAUTIFUL COMMUNITY GARDEN, JUST STEPS FROM THE POOl AND CLUBHOUSE. EASY WALK TO SHOPS, BUS LINE AND BEACH. GREAT LAYOUT, GREAT LOCATION, ALL AGES, READY FOR A NEW HOMEOWNER-MUST SEE. FINANCING AVAILABLE! Located minutes from hospitals, amazing restaurants, and the beaches of Lauderdale by the Sea, this condo offers everything you need for the ultimate South Florida lifestyle. The association requires a 700 credit score and does not permit rentals.

18. 2023-10-17
    historical
19. 2023-09-21
    price $225,000
20. 2023-09-06
    price $235,000
21. 2023-08-18
    listed $250,000 Active
22. 2023-08-03
    historical
23. 2023-07-27
    price $255,998
24. 2023-07-08
    price $268,998
25. 2023-05-31
    listed $285,998 Active
26. 2012-02-02
    soldstatus $70,998
27. 2012-01-30
    soldstatus $70,998
28. 2004-12-03
    soldstatus $118,000
29. 1990-02-07
    soldstatus $65,000
30. 1990-01-01
    soldstatus $65,000
31. 1967-08-01
    soldstatus $15,200

ⓘ 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: $3,388 · $282/mo
• Projected year-2 tax: $3,388 · $282/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $43,805
• − Mortgage interest: −$12,598
• − Property taxes: −$3,388
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,504
• − Management: −$3,504
• − HOA: −$6,240
• − Depreciation: −$6,543
• Taxable income: $6,904
• Est. tax owed @ 24.0%: −$1,657
• After-tax cash flow: $8,044/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

+1379.6% since first listed

19 events — show timeline

• 2026-03-05 Listed $224,900 Beaches MLS
• 2023-12-12 Sold (Public Records) $215,000 Public Records
• 2023-12-11 Sold (MLS) $215,000 MARMLS
• 2023-11-15 Pending — MARMLS
• 2023-10-19 Listed $220,988 MARMLS
• 2023-10-17 Listing Removed — MARMLS
• 2023-09-21 Price Changed $225,000 MARMLS
• 2023-09-06 Price Changed $235,000 MARMLS
• 2023-08-18 Listed $250,000 MARMLS
• 2023-08-03 Listing Removed — MARMLS
• 2023-07-27 Price Changed $255,998 MARMLS
• 2023-07-08 Price Changed $268,998 MARMLS
• 2023-05-31 Listed $285,998 MARMLS
• 2012-02-02 Sold (MLS) $70,998 MARMLS
• 2012-01-30 Sold (Public Records) $70,998 Public Records
• 2004-12-03 Sold (Public Records) $118,000 Public Records
• 1990-02-07 Sold (Public Records) $65,000 Public Records
• 1990-01-01 Sold (Public Records) $65,000 Public Records
• 1967-08-01 Sold (Public Records) $15,200 Public Records

Property tax history

+11.4%/yr

Latest (2025): $3,388 · -16.8% YoY. Source: county tax records.