2170 NE 51st Ct Unit B23 · Fort Lauderdale, FL 33308

$195,000

1 bd · 1.0 ba · 700 sqft · Condo public records · 156 Days on market

Built 1966 $500/mo HOA · 18% 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 +26.8/30.0
• 1% rule +9.3/10.0
• DSCR +9.2/10.0
• 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

UPDATED CONDO IN A PRIME LOCATION! This beautifully maintained 1-bedroom, 1-bath condo offers an exceptional place to call home. Located just 1 mile from the beaches of Lauderdale-By-The-Sea, this unit features an updated kitchen with stainless steel appliances and granite countertops, an updated bathroom, impact windows, and a new A/C system. Enjoy large closets and additional storage space in a well-maintained community offering a pool, clubhouse, BBQ area, and shuffleboard courts. The unit is situated on the second floor with a relaxing pool view. Conveniently located just minutes from restaurants, shopping, and the beach, with I-95 only 5 minutes away, providing quick access to Fort La

Key facts

• New a/c system
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• UPDATED BATHROOM
• IMPACT WINDOWS
• NEW A/C SYSTEM

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Quarterly association fee; Association amenities include clubhouse, laundry, barbecue/picnic area, pool, shuffleboard court, and storage; Association covers common areas, insurance, legal/accounting, structure maintenance, pools, recreation facilities, reserve fund, roof, sewer, trash, and water

Exterior

• Parking: Guest parking; One assigned parking space
• Security: Smoke detectors
• Utilities: Cable available
• Home design: Block construction; Two stories; Entry on level 2; East-facing
• Construction: Block construction
• Exterior features: Open porch; Porch with barbecue area; Association heated pool

Interior

• Kitchen: Microwave; Self-cleaning oven; Refrigerator
• Bedrooms: One bedroom (12 x 14)
• Flooring: Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Impact glass windows; Living/dining room; Second-floor entry; Bedroom on main level; Unfurnished
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 36% of the median local income ($94k/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 $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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $195k implies a 413% gain — meaningful room to come down on a strong offer.

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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.43% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 5.8

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $4,418
• Equity at exit: $29,075

10-year hold

• IRR: 12.5%
• Equity multiple: 2.03×
• Total profit: $56,003
• Equity at exit: $16,860

Cash invested: $54,600 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,792 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$81
• HOA: −$500
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $534

Break-even live

Break-even rent $2,117

Max offer price $195,000

Occupancy floor 76%

Sensitivity live

Price	-10% $644	-5% $589	+0% $534	+5% $479	+10% $423
Rent	-10% $313	-5% $423	+0% $534	+5% $644	+10% $754
Rate	-1.0pp $632	-0.5pp $583	base $534	+0.5pp $483	+1.0pp $432

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3411 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	754	$2,885	$3.83	1d	57	1.37mi
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	19d	1	1.41mi
3801 Dixie Hwy Oakland Park, FL	2.0	1.0–2.0	944	$2,894	$3.07	1d	41	1.44mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $195,000 Active 156 DOM
2. 2026-06-18
   days on market $195,000 Active 153 DOM
3. 2026-06-17
   days on market $195,000 Active 152 DOM
4. 2026-06-13
   days on market $195,000 Active 151 DOM
5. 2026-06-09
   days on market $195,000 Active 147 DOM
6. 2026-06-07
   days on market $195,000 Active 145 DOM
7. 2026-06-04
   days on market $195,000 Active 142 DOM
8. 2026-06-03
   days on market $195,000 Active 141 DOM
9. 2026-06-02
   days on market $195,000 Active 140 DOM
10. 2026-06-01
    days on market $195,000 Active 139 DOM
11. 2026-05-31
    days on market $195,000 Active 138 DOM
12. 2026-03-09
    price $195,000
13. 2026-02-24
    price $201,900
14. 2026-01-13
    listed $205,000 Active
15. 1988-04-11
    soldstatus $38,000
16. 1988-03-01
    soldstatus $38,000
17. 1966-01-01
    soldstatus $9,500

ⓘ 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: $819 · $68/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$800/yr (+$67/mo · 97.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $33,506
• − Mortgage interest: −$10,923
• − Property taxes: −$819
• − Insurance: −$975
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − HOA: −$6,000
• − Depreciation: −$5,673
• Taxable income: $3,756
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $5,503/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

+1952.6% since first listed

6 events — show timeline

• 2026-03-09 Price Changed $195,000 MARMLS
• 2026-02-24 Price Changed $201,900 MARMLS
• 2026-01-13 Listed $205,000 MARMLS
• 1988-04-11 Sold (Public Records) $38,000 Public Records
• 1988-03-01 Sold (Public Records) $38,000 Public Records
• 1966-01-01 Sold (Public Records) $9,500 Public Records

Property tax history

+9.7%/yr

Latest (2025): $819 · +14.2% YoY. Source: county tax records.