3020 NW 2nd St · Pompano Beach, FL 33069

$605,000

12 bd · 6.0 ba · 1,914 sqft · MultiFamily · 125 Days on market

Built 1967

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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 +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 +3.7/5.0
• Appreciation +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fully leased profitable investment property that generated $5,600 per month or $67,200 annually. The first unit is a 3 bedroom, 1 bath unit that generates $2,000 monthly income. The second unit is a 2-bedroom, one bathroom that generates $1,800 and the third unit is also a 2-bedroom with one bathroom that generates $1,800 in monthly income. All bathrooms have been updated, all units have tile flooring. Tenants pay their own electricity, water is divided between the three tenants (40/30/30). Do Not Disturb the tenants. Roof is certified to have over five years of life.

Key facts

• Strong rental demand
• Three spacious units
• Triplex

Tags

• TRIPLEX
• THREE SPACIOUS UNITS
• SIX DEDICATED PARKING SPACES
• STRONG RENTAL DEMAND
• SOLID INVESTMENT OPPORTUNITY
• GROWING POMPANO BEACH MARKET

Property features AI

Finance

• Financial info: Rent includes gardener for leased units; Unit rents reported: $1,800 (one 2-bed unit), $2,100 (one 3-bed unit); other units listed without rent

Exterior

• Parking: Total of 6 parking spaces
• Utilities: Cable available; Public sewer
• Home design: Single-story building
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Less than quarter acre lot; Zoned RD-1

Interior

• Bedrooms: Three 2-bedroom units; One 3-bedroom unit
• Flooring: Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/2.0-bath units multifamily listed at $605k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $605k).
• Recommended offer: $532k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 3.1% in Pompano Beach — 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 74/100 on livability (#284 in FL, #4,541 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: schools D+, employment D+, amenities 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.
• Market conditions: Rents soft (-0.3%/yr); 438 active listings in the ZIP; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $10,597/mo this rent would consume 213% of the median local household income ($60k/yr) (locally 1670% 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 $4k of loan paydown is wiped out by about $18k 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 + 0.0% rent growth), your $169k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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.

Risks & watch-outs

• Climate carrying-cost: 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 $532,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.75% ✓
• Cap rate: 14.60%
• Cash-on-cash: 29.69%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 1.81×
• Total profit: $137,970
• Equity at exit: $90,207

10-year hold

• IRR: 26.8%
• Equity multiple: 3.03×
• Total profit: $344,453
• Equity at exit: $52,309

Cash invested: $169,400 (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 33069

• Home prices YoY: -1.1%
• Rents YoY: -0.3%
• Active inventory: 438
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $10,597 medium
• Mortgage (P&I): −$3,173
• Tax est. 1.5%: −$756 /mo · $9,075/yr
• Insurance: −$252
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,225
• Net cashflow: $4,191

Break-even live

Break-even rent $5,292

Max offer price $605,000

Occupancy floor 55%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	2	$10,596
Total (3 units)			$10,597

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: $151,250
• Closing costs: $18,150
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-01
   days on market $605,000 Active 125 DOM
2. 2026-05-31
   days on market $605,000 Active 124 DOM
3. 2026-03-19
   price $605,000
4. 2026-01-27
   listed $610,000 Active
5. 2025-10-23
   historical
6. 2025-06-25
   price $645,000
7. 2025-05-30
   price $660,000
8. 2025-04-07
   listed $670,000 Active
9. 2024-08-02
   soldstatus $605,000 Closed 574-char remark

   Show marketing remark (574 chars)

   Fully leased profitable investment property that generated $5,600 per month or $67,200 annually. The first unit is a 3 bedroom, 1 bath unit that generates $2,000 monthly income. The second unit is a 2-bedroom, one bathroom that generates $1,800 and the third unit is also a 2-bedroom with one bathroom that generates $1,800 in monthly income. All bathrooms have been updated, all units have tile flooring. Tenants pay their own electricity, water is divided between the three tenants (40/30/30). Do Not Disturb the tenants. Roof is certified to have over five years of life.

10. 2024-07-04
    status Pending 574-char remark

    Show marketing remark (574 chars)

    Fully leased profitable investment property that generated $5,600 per month or $67,200 annually. The first unit is a 3 bedroom, 1 bath unit that generates $2,000 monthly income. The second unit is a 2-bedroom, one bathroom that generates $1,800 and the third unit is also a 2-bedroom with one bathroom that generates $1,800 in monthly income. All bathrooms have been updated, all units have tile flooring. Tenants pay their own electricity, water is divided between the three tenants (40/30/30). Do Not Disturb the tenants. Roof is certified to have over five years of life.

11. 2024-06-28
    listed $620,000 Active 574-char remark

    Show marketing remark (574 chars)

    Fully leased profitable investment property that generated $5,600 per month or $67,200 annually. The first unit is a 3 bedroom, 1 bath unit that generates $2,000 monthly income. The second unit is a 2-bedroom, one bathroom that generates $1,800 and the third unit is also a 2-bedroom with one bathroom that generates $1,800 in monthly income. All bathrooms have been updated, all units have tile flooring. Tenants pay their own electricity, water is divided between the three tenants (40/30/30). Do Not Disturb the tenants. Roof is certified to have over five years of life.

12. 2024-06-02
    status Pending
13. 2024-04-26
    historical Active Under Contract
14. 2024-04-25
    historical
15. 2024-04-17
    price $620,000
16. 2023-12-02
    listed $650,000 Active
17. 2014-03-28
    soldstatus $105,000
18. 2013-12-30
    listed $119,900

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $127,164
• − Mortgage interest: −$33,889
• − Property taxes: −$9,075
• − Insurance: −$3,025
• − Repairs & maintenance: −$10,173
• − Management: −$10,173
• − Depreciation: −$17,600
• Taxable income: $43,228
• Est. tax owed @ 24.0%: −$10,375
• After-tax cash flow: $39,913/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 — Pompano Beach

• Score: 74/100
• State rank: #284
• US rank: #4541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pompano Beach, FL
• County: Broward County · 1,963,430 people
• City population: 155,861
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,145
• Household income: $59,683
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1670.0

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 0.72)
• Race & ethnicity: Black 33% White 32% Hispanic / Latino 26% Two or more races 21% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3% Dominican 2%
• Common ancestry: Hispanic 9% Estonian 2% Romanian 2%
• Foreign-born: 33% · Canada, Jamaica
• Languages at home: 61% English-only · Spanish 23% French/Haitian/Cajun 9% Other Indo-European 5%

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: ▼ -3.16%
• Current HPI: 297.1774
• Rent YoY: ▼ -0.29%
• 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

+404.6% since first listed

16 events — show timeline

• 2026-03-19 Price Changed $605,000 MARMLS
• 2026-01-27 Listed $610,000 MARMLS
• 2025-10-23 Listing Removed — MARMLS
• 2025-06-25 Price Changed $645,000 MARMLS
• 2025-05-30 Price Changed $660,000 MARMLS
• 2025-04-07 Listed $670,000 MARMLS
• 2024-08-02 Sold (MLS) $605,000 MARMLS
• 2024-07-04 Pending — MARMLS
• 2024-06-28 Listed $620,000 MARMLS
• 2024-06-02 Pending — MARMLS
• 2024-04-26 Contingent — MARMLS
• 2024-04-25 Listing Removed — MARMLS
• 2024-04-17 Price Changed $620,000 MARMLS
• 2023-12-02 Listed $650,000 MARMLS
• 2014-03-28 Sold (MLS) $105,000 Beaches MLS
• 2013-12-30 Listed $119,900 Beaches MLS