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B Composite 74.65
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 +28.4/30.0
  • ARV discount +15.0/15.0
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • Livability +4.0/5.0
  • Rent growth +2.6/5.0
  • Schools +2.5/10.0
  • Condition / age +2.2/5.0
  • Appreciation +0.0/10.0

$94,000

None · Lauderhill, FL 33313
1 bd · 1.0 ba · 684 sqft · Townhouse · 142 Days on market
Built 1969 Fair condition $137/sqft · 31% below area Est $137k · 31% under $355/mo HOA · 21% of rent ↓ 22% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

MUST SEE

Key facts

  • $355 HOA
  • Community pool
  • Built 1969

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 1-bed/1.0-bath townhouse listed at $94k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $304 ($4k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($2k rent vs $94k).
  • Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
  • Cap rate 10.2% vs local median 4.2% in Lauderhill — 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 79/100 on livability (#139 in FL, #2,059 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: 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.
  • Zoned schools: Park Lakes Elementary School (math 35% / reading 44%, grade F, #1,513 of 2,144 statewide, top 73%, 970 students, 82% FRL); Lauderdale Lakes Middle School (math 21% / reading 26%, grade F, #536 of 571 statewide, top 95%, 816 students, 79% FRL); Boyd H. Anderson High School (math 10% / reading 14%, grade F, #622 of 667 statewide, top 93%, 2,038 students, 72% FRL) — zoned schools average 78% FRL vs 51% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Zoned-school proficiency averages 25% at this address vs 48% district-wide (-22 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
  • Market conditions: Rents flat; 738 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
  • This rent runs 43% of the median local income ($46k/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 $650 of loan paydown is wiped out by about $3k 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 142 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 21% of rent.
  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

  1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

1% rule
1.76%
Cap rate
10.17%
Cash-on-cash
13.84%
DSCR
1.62
GRM
4.7

CMA / ARV

ARV (median comp)
$136,832
List price
$94,000
Delta
-31.30%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
2901 NW 48th Ave #163 1.07mi 1/1.0 705 (+3%) 1mo $77,000 $109 59
4411 NW 16th St #207 1.11mi 1/1.0 660 (-4%) 2mo $62,000 $94 57
4898 NW 29th Ct #409 0.95mi 1/1.0 705 (+3%) 4mo $56,500 $80 56
4411 NW 16th St #305 1.11mi 1/1.0 660 (-4%) 4mo $73,000 $111 56
2601 NW 48th Ter #147 0.88mi 1/1.0 705 (+3%) 6mo $80,000 $113 55
2601 NW 48th Ter #146 0.88mi 1/1.0 705 (+3%) 9mo $74,500 $106 52
3070 NW 48th Ter #212 1.12mi 1/1.5 705 (+3%) 7mo $35,000 $50 52
3070 NW 48th Ter #310 1.12mi 1/1.5 705 (+3%) 15mo $100,000 $142 45
4800 NW 24th Ct Unit D117 0.84mi 1/1.0 598 (-13%) 2mo $200,000 $334 43
2800 NW 56th Ave Unit E305 0.72mi 1/1.0 735 (+8%) 18mo $60,000 $82 38
1631 NW 46th Ave #119 1.05mi 2/1.0 (+1) 774 (+13%) 0mo $108,000 $140 38
1701 NW 46th Ave #207 1.03mi 2/1.0 (+1) 774 (+13%) 15mo $123,000 $159 26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.26% rent growth · sell at horizon

5-year hold
IRR
-0.1%
Equity multiple
1.00×
Total profit
$-97
Equity at exit
$14,016
10-year hold
IRR
5.3%
Equity multiple
1.32×
Total profit
$8,539
Equity at exit
$8,127

Cash invested: $26,320 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
59 active · 3 under contract
Months of supply
59.0 mo (2%/mo absorbed)
Median asking
$120,000 ($153/sqft)
Median days on market
104 d
This list price
24% of active listings are priced below it
ARV vs active asking
+30.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33313

Rents YoY
0.3%
Active inventory
738
Price-to-rent
4.7×

Monthly cashflow live

Estimated rent
$1,656 high interval (Pro) →
Mortgage (P&I)
$493
Tax est. 1.5%
$118 /mo · $1,410/yr
Insurance
$39
HOA
$355
Vacancy / Maint / Mgmt
$348
Net cashflow
$304

Break-even live

Break-even rent $1,272
Max offer price $94,000
Occupancy floor 77%

Sensitivity live

Price -10% $369 -5% $336 +0% $304 +5% $271 +10% $239
Rent -10% $173 -5% $238 +0% $304 +5% $369 +10% $434
Rate -1.0pp $351 -0.5pp $327 base $304 +0.5pp $279 +1.0pp $254

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
$23,500
Closing costs
$2,820
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
4400 W Sunrise Blvd Fort Lauderdale, FL 2.0 1.0–2.0 1002 $2,958 $2.95 0d 31 0.04mi
5880 NW 19th Ct Unit 5888 Lauderhill, FL 2.0 1.0 750 $1,750 $2.33 16d 1 0.08mi
5972 NW 19th St Unit 3 Lauderhill, FL 1.0 1.0 700 $1,450 $2.07 63d 1 0.20mi
5811 NW 17th Pl Unit H Sunrise, FL 1.0 1.0 600 $1,750 $2.92 73d 1 0.21mi
2111 NW 60th Ave Unit back Sunrise, FL 1.0 1.0 600 $1,250 $2.08 7d 1 0.28mi
2241 NW 59th Ter Unit 1 Lauderhill, FL 2.0 1.0 735 $1,850 $2.52 73d 1 0.32mi
5941 NW 16th Pl Sunrise, FL 1.0–2.0 1.0–1.5 772 $1,500 $1.94 73d 1 0.35mi
5971 NW 16th Pl Sunrise, FL 1.0–2.0 1.0 715 $1,500 $2.10 73d 1 0.39mi
5321 NW 21st Ct Lauderhill, FL 2.0 1.0 750 $1,900 $2.53 73d 1 0.40mi
2360 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 892 $1,615 $1.81 0d 8 0.40mi
5960 NW 16th Pl Sunrise, FL 1.0–2.0 1.0–2.0 797 $1,500 $1.88 73d 1 0.40mi
1752 NW 55th Ave #102 Lauderhill, FL 1.0 1.0 550 $1,390 $2.53 73d 1 0.41mi
5980 NW 16th Pl Sunrise, FL 1.0–2.0 1.0–2.0 797 $1,500 $1.88 73d 1 0.42mi
5990 NW 16th Pl Sunrise, FL 1.0–2.0 1.0–2.0 801 $1,500 $1.87 73d 1 0.43mi
2481 NW 56th Ave Unit 6-16 Lauderhill, FL 1.0 1.0 745 $1,600 $2.15 66d 1 0.47mi
1611 NW 63rd Ave Unit 2 Sunrise, FL 1.0 1.0 750 $1,350 $1.80 73d 1 0.64mi
6580 NW 22nd St Unit 2 Sunrise, FL 1.0 1.0 650 $1,000 $1.54 52d 1 0.65mi
6108 NW 26th St Sunrise, FL 1.0–3.0 1.0–2.0 925 $1,799 $1.94 0d 52 0.70mi
2800 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 847 $1,250 $1.48 71d 7 0.76mi
2800 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 847 $1,250 $1.48 2d 9 0.76mi
2800 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 847 $1,480 $1.75 64d 6 0.76mi
2800 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 847 $1,250 $1.48 54d 8 0.76mi
2800 NW 56th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 847 $1,175 $1.39 73d 8 0.76mi
6901 W Sunrise Blvd Plantation, FL 1.0–3.0 1.0–2.0 1037 $2,320 $2.24 0d 27 0.90mi
6121 NW 11th St Sunrise, FL 2.0 1.0 800 $1,500 $1.88 73d 1 0.94mi
4851 NW 26th Ct #338 Lauderdale Lakes, FL 1.0 1.0 705 $1,550 $2.20 32d 1 0.95mi
5480 NW 11th St #103 Lauderhill, FL 1.0 1.0 675 $1,500 $2.22 37d 1 0.98mi
5480 NW 11th St #306 Lauderhill, FL 1.0 1.0 675 $1,590 $2.36 73d 1 0.98mi
5480 NW 11th St Lauderhill, FL 1.0 1.0 675 $1,570 $2.33 70d 2 0.98mi
5420 NW 11th St #205 Lauderhill, FL 1.0 1.0 675 $1,650 $2.44 40d 1 0.99mi
2330 NW 72nd Ave Sunrise, FL 1.0–2.0 1.0 742 $1,650 $2.22 73d 1 1.02mi
1861 NW 46th Ave Lauderhill, FL 2.0 1.0–2.0 730 $1,544 $2.12 0d 8 1.02mi
1621 NW 46th Ave Lauderhill, FL 1.0–2.0 1.0–2.0 751 $1,550 $2.06 32d 2 1.08mi
1681 NW 70th Ave #418 Plantation, FL 1.0 1.0 660 $1,700 $2.58 54d 1 1.14mi
1681 NW 70th Ave #418 Plantation, FL 1.0 1.0 660 $1,600 $2.42 73d 1 1.14mi
5021 W Oakland Park Blvd #204 Lauderdale Lakes, FL 1.0 1.0 684 $1,500 $2.19 15d 1 1.18mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL 1.0 1.5 705 $1,300 $1.84 73d 1 1.18mi
3001 NW 48th Ave Lauderdale Lakes, FL 1.0–2.0 1.5–2.0 832 $1,300 $1.56 8d 2 1.18mi
5021 W Oakland Park Blvd Lauderdale Lakes, FL 1.0 1.0 684 $1,550 $2.27 66d 2 1.18mi
5031 W Oakland Park Blvd Lauderdale Lakes, FL 1.0–2.0 1.0–2.0 682 $1,300 $1.91 43d 2 1.22mi

Property features AI

Finance

Other
Financial info
HOA & community
Monthly HOA fee of $355Community amenities include clubhouse, fitness center, picnic area and trash chuteHOA covers insurance, grounds maintenance, pest control, sewer, trash, water, elevator, legal/accounting, reserve funds, roof repairs and pool serviceSenior community

Exterior

Parking
Security
Closed-circuit camerasFire alarmSmoke detectors
Utilities
Public waterPublic sewerElectric service
Home design
CondominiumThird-floor entryElevator accessThree-story buildingResale condition
Construction
Block construction
Exterior features
PatioLake access

Interior

Kitchen
Electric rangeRefrigeratorDishwasher not listed
Bedrooms
One bedroom on the main level (third floor entry via elevator)
Flooring
Tile
Bathrooms
One full bathroom on the main level
Heating & cooling
Central heating (electric)Central air conditioningCeiling fans
Interior features
DisposalAccessible elevator installed
Laundry & utility
Electric water heater

Listing history 44 events

  1. 2026-07-31
    days on market $94,000 Active 142 DOM
  2. 2026-07-28
    days on market $94,000 Active 139 DOM
  3. 2026-07-24
    days on market $94,000 Active 135 DOM
  4. 2026-07-23
    days on market $94,000 Active 134 DOM
  5. 2026-07-22
    days on market $94,000 Active 133 DOM
  6. 2026-07-21
    days on market $94,000 Active 132 DOM
  7. 2026-07-20
    days on market $94,000 Active 131 DOM
  8. 2026-07-16
    days on market $94,000 Active 127 DOM
  9. 2026-07-15
    days on market $94,000 Active 126 DOM
  10. 2026-07-14
    days on market $94,000 Active 125 DOM
  11. 2026-07-13
    days on market $94,000 Active 124 DOM
  12. 2026-07-13
    days on market $94,000 Active 123 DOM
  13. 2026-07-11
    days on market $94,000 Active 122 DOM
  14. 2026-07-10
    days on market $94,000 Active 121 DOM
  15. 2026-07-10
    days on market $94,000 Active 120 DOM
  16. 2026-07-07
    days on market $94,000 Active 118 DOM
  17. 2026-07-06
    days on market $94,000 Active 117 DOM
  18. 2026-07-06
    days on market $94,000 Active 116 DOM
  19. 2026-07-03
    days on market $94,000 Active 114 DOM
  20. 2026-07-02
    days on market $94,000 Active 113 DOM
  21. 2026-07-01
    days on market $94,000 Active 112 DOM
  22. 2026-06-30
    days on market $94,000 Active 111 DOM
  23. 2026-06-29
    days on market $94,000 Active 110 DOM
  24. 2026-06-28
    days on market $94,000 Active 109 DOM
  25. 2026-06-27
    days on market $94,000 Active 108 DOM
  26. 2026-06-26
    days on market $94,000 Active 107 DOM
  27. 2026-06-24
    days on market $94,000 Active 105 DOM
  28. 2026-06-22
    days on market $94,000 Active 103 DOM
  29. 2026-06-21
    days on market $94,000 Active 102 DOM
  30. 2026-06-18
    days on market $94,000 Active 99 DOM
  31. 2026-06-17
    days on market $94,000 Active 98 DOM
  32. 2026-06-16
    days on market $94,000 Active 97 DOM
  33. 2026-06-15
    days on market $94,000 Active 96 DOM
  34. 2026-06-13
    days on market $94,000 Active 94 DOM
  35. 2026-06-09
    days on market $94,000 Active 90 DOM
  36. 2026-06-08
    days on market $94,000 Active 89 DOM
  37. 2026-06-07
    days on market $94,000 Active 88 DOM
  38. 2026-06-04
    days on market $94,000 Active 85 DOM
  39. 2026-06-03
    days on market $94,000 Active 84 DOM
  40. 2026-06-02
    days on market $94,000 Active 83 DOM
  41. 2026-06-01
    days on market $94,000 Active 82 DOM
  42. 2026-05-31
    days on market $94,000 Active 81 DOM
  43. 2026-05-06
    price $94,000
  44. 2026-02-23
    listed $120,000 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$19,871
− Mortgage interest
−$5,265
− Property taxes
−$1,410
− Insurance
−$470
− Repairs & maintenance
−$1,590
− Management
−$1,590
− HOA
−$4,260
− Depreciation
−$2,735
Taxable income
$2,552
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$612
After-tax cash flow
$3,031/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab Est. rehab $3,420–$10,260 screening

A modestly maintained townhouse with average interior and exterior conditions, offering potential for cosmetic upgrades to boost its value.

Repairs flagged

  • Minor exterior paint — visible wear
  • Minor kitchen cabinets — slight wear

Value-add opportunities

  • Both paint exterior — enhances curb appeal and resale
  • Both replace kitchen cabinets — modernizes kitchen and improves resale

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Park Lakes Elementary School F FL #1,513/2,144 Nat'l #19,648/41,679 Middle Lauderdale Lakes Middle School F FL #536/571 Nat'l #10,902/14,009 High Boyd H. Anderson High School F FL #622/667 Nat'l #15,857/17,239

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
B Composite livability gradescore 79/100

Livability — Lauderhill

Score
79/100
State rank
#139
US rank
#2059

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Lauderhill, FL
County
Broward County · 2,207,033 people
City population
62,807
Metro
Miami-Fort Lauderdale-Pompano Beach, FL
Population (ZIP)
62,807
Household income
$46,305
Rent vs Own
54.3% rent · 45.7% own
Severe rent burden
21% of renters

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 Black (77%)
Race & ethnicity
Black 77% Hispanic / Latino 12% Two or more races 8% White 7% Asian 2%
Hispanic origin (detail)
Puerto Rican 2% Cuban 3% Dominican 1%
Common ancestry
Hispanic 20%
Foreign-born
39% · Canada, Jamaica, Dominican Republic
Languages at home
66% English-only · French/Haitian/Cajun 22% Spanish 10%

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

Price history

-21.7% since first listed
2 events — show timeline
  • 2026-05-06 Price Changed $94,000 Beaches MLS
  • 2026-02-23 Listed $120,000 Beaches MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…