3000 NE 48th St #206 · Fort Lauderdale, FL 33308

$189,000

2 bd · 2.0 ba · 1,285 sqft · Condo public records · 102 Days on market

Built 1966 $1553/mo HOA · 39% 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 +14.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 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

Great value in East Fort Lauderdale! Awesome location on the water and a quick walk to the beaches of Lauderdale By the Sea. Large bedrooms and ensuite baths with generous walk in closets and storage. The building sits on a deepwater canal directly off the Intracoastal with no fixed bridges. Well established building in Coral Ridge Country Club neighborhood surrounded by multi-million dollar homes. Quick walk to numerous restaurants and shops. Seller will pay the full balance of the current assessment! The new buyer gets to walk into a building that is in the process being upgraded at no cost to them!! See broker remarks or call listing agent for more details on the assessments.

Key facts

• No fixed bridges
• Deepwater canal
• Walk to the beaches

Tags

• LOCATION ON THE WATER
• WALK TO THE BEACHES
• DEEPWATER CANAL
• NO FIXED BRIDGES
• WALK TO RESTAURANTS AND SHOPS

Property features AI

Finance

• Financial info: No land lease
• HOA & community: Has association; Quarterly HOA that includes insurance, grounds maintenance, sewer, trash, water, common areas, elevator, hot water, reserve funds, and pool service; Community amenities: fitness center, pool, picnic area, bike storage, library, maintenance

Exterior

• Parking: Carport (1 space); 1 covered parking space
• Utilities: Cable available
• Home design: Condominium; Resale; 3-story building; Accessible elevator installed; East of US-1
• Construction: CBS construction
• Exterior features: Waterfront with no fixed bridge

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closet(s); Blinds
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $33 ($391/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $172k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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.
• Zoned schools: Bennett Elementary School (math 32% / reading 42%, grade F, #1,609 of 2,144 statewide, top 77%, 329 students, 80% 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 average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $3,996/mo this rent would consume 51% 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 102 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; HOA is 39% of rent.
• Climate carrying-cost: moderate flood risk; 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 $171,990 (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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.11% ✓
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 3.9

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: -12.8%
• Equity multiple: 0.53×
• Total profit: $-24,826
• Equity at exit: $28,181

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-3,569
• Equity at exit: $16,341

Cash invested: $52,920 (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: 3.9×

Monthly cashflow live

• Estimated rent: $3,996 high
• Mortgage (P&I): −$991
• Tax from tax record: −$502 /mo · $6,020/yr
• Insurance: −$79
• HOA: −$1,553
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $33

Break-even live

Break-even rent $3,955

Max offer price $189,000

Occupancy floor 94%

Sensitivity live

Price	-10% $140	-5% $86	+0% $33	+5% $-21	+10% $-74
Rent	-10% $-283	-5% $-125	+0% $33	+5% $190	+10% $348
Rate	-1.0pp $128	-0.5pp $81	base $33	+0.5pp $-16	+1.0pp $-66

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	25d	1	0.10mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	20d	1	0.19mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	23d	1	0.19mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	19d	1	0.27mi
4800 NE 25th Ave Apt N Fort Lauderdale, FL	2.0	2.0	1800	$3,200	$1.78	23d	1	0.27mi
3111 NE 51st St Unit 301 Fort Lauderdale, FL	2.0	2.0	1300	$3,800	$2.92	25d	1	0.31mi
283 Imperial Ln Lauderdale by the Sea, FL	3.0	2.5	1761	$4,500	$2.56	25d	1	0.36mi
262 Bombay Ave Lauderdale by the Sea, FL	2.0	3.0	1803	$7,000	$3.88	25d	1	0.48mi
4454 W Tradewinds Ave Lauderdale by the Sea, FL	3.0	2.0	1808	$4,700	$2.60	20d	1	0.49mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	25d	1	0.52mi
233 Commercial Blvd Unit 1541802P Lauderdale-By-The-Sea, FL	2.0	2.0	1291	$3,876	$3.00	4d	1	0.52mi
4511 Seagrape Dr Lauderdale by the Sea, FL	2.0	2.0	1218	$3,500	$2.87	25d	1	0.64mi
2100 NE 45th St #1 Fort Lauderdale, FL	3.0	3.5	1340	$9,500	$7.09	25d	1	0.67mi
4144 El Mar Dr Unit 1 Lauderdale-By-The-Sea, FL	2.0	2.0	1116	$3,250	$2.91	25d	1	0.71mi
4280 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0–2.5	2125	$6,000	$2.82	6d	4	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	2.0–2.5	2025	$6,000	$2.96	19d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.5	2025	$6,250	$3.09	4d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.5	2025	$6,250	$3.09	6d	5	0.74mi
4280 Galt Ocean Dr Fort Lauderdale, FL	1.0–3.0	2.0–2.5	2025	$6,000	$2.96	23d	5	0.74mi
4445 El Mar Dr Unit 303 Lauderdale-By-The-Sea, FL	2.0	2.5	1672	$7,000	$4.19	25d	1	0.75mi
4445 El Mar Dr #2311 Lauderdale by the Sea, FL	2.0	2.5	1791	$5,850	$3.27	9d	1	0.75mi
4250 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1350	$3,650	$2.70	3d	2	0.79mi
4444 El Mar Dr #3404 Lauderdale by the Sea, FL	2.0	2.0	1256	$6,200	$4.94	25d	1	0.80mi
4444 El Mar Dr #3305 Lauderdale by the Sea, FL	2.0	2.5	1515	$7,000	$4.62	25d	1	0.80mi
4240 Galt Ocean Dr #1006 Fort Lauderdale, FL	3.0	2.0	1836	$6,000	$3.27	25d	1	0.80mi
4619 Poinciana St Unit 2A Lauderdale by the Sea, FL	3.0	2.5	1452	$3,900	$2.69	17d	1	0.81mi
4100 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0–2.5	2295	$3,500	$1.53	12d	1	0.83mi
4540 N Ocean Dr #210 Lauderdale by the Sea, FL	2.0	2.0	1450	$5,500	$3.79	25d	1	0.83mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1553	$8,750	$5.63	6d	6	0.90mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1536	$8,750	$5.69	6d	7	0.90mi
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	25d	1	0.92mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	1355	$5,000	$3.69	15d	2	0.92mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	6d	2	0.92mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1190	$3,150	$2.65	22d	2	0.92mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	6d	3	0.92mi
4010 Galt Ocean Dr #802 Fort Lauderdale, FL	2.0	2.0	1190	$5,000	$4.20	16d	1	0.94mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	19d	4	0.96mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	0d	4	0.96mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	2d	1	0.99mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	21d	1	0.99mi

HOA detail condo

• Monthly dues: $1,553 · $18,636/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $189,000 Active 102 DOM
2. 2026-06-18
   days on market $189,000 Active 99 DOM
3. 2026-06-17
   days on market $189,000 Active 98 DOM
4. 2026-06-16
   days on market $189,000 Active 97 DOM
5. 2026-06-15
   days on market $189,000 Active 96 DOM
6. 2026-06-13
   days on market $189,000 Active 94 DOM
7. 2026-06-09
   days on market $189,000 Active 90 DOM
8. 2026-06-08
   days on market $189,000 Active 89 DOM
9. 2026-06-07
   days on market $189,000 Active 88 DOM
10. 2026-06-04
    days on market $189,000 Active 85 DOM
11. 2026-06-03
    days on market $189,000 Active 84 DOM
12. 2026-06-02
    days on market $189,000 Active 83 DOM
13. 2026-06-01
    days on market $189,000 Active 82 DOM
14. 2026-05-31
    days on market $189,000 Active 81 DOM
15. 2026-05-05
    price $189,000
16. 2026-03-31
    price $225,000
17. 2026-02-02
    listed $250,000 Active
18. 2002-09-19
    soldstatus $168,000
19. 1996-07-24
    soldstatus $131,900
20. 1994-03-23
    soldstatus $96,000

ⓘ 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: $6,020 · $502/mo
• Projected year-2 tax: $6,020 · $502/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $47,957
• − Mortgage interest: −$10,587
• − Property taxes: −$6,020
• − Insurance: −$945
• − Repairs & maintenance: −$3,837
• − Management: −$3,837
• − HOA: −$18,636
• − Depreciation: −$5,498
• Taxable loss: −$1,403
• Est. tax savings @ 24.0%: +$337
• After-tax cash flow: $727/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

+96.9% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $189,000 Beaches MLS
• 2026-03-31 Price Changed $225,000 Beaches MLS
• 2026-02-02 Listed $250,000 Beaches MLS
• 2002-09-19 Sold (Public Records) $168,000 Public Records
• 1996-07-24 Sold (Public Records) $131,900 Public Records
• 1994-03-23 Sold (Public Records) $96,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $6,020 · -13.4% YoY. Source: county tax records.