6229 Bay Club Dr #4 · Fort Lauderdale, FL 33308

$295,000

2 bd · 2.0 ba · 1,200 sqft · Condo public records · 58 Days on market

Built 1973 $745/mo HOA · 19% 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 +15.6/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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

Motivated seller. A great opportunity to own a 2 bedroom 2 bath and make it your own in this UNIQUE WATERFRONT GATED COMPLEX on the ICW in luxurious NE Fort Lauderdale. New AC and H20 heater. new roof, lots of closets plus extended storage closet. BOATERS PARADISE! Ocean access with No fixed bridges, LOW, LOW dock fees($2 @linear foot up tp 50') thru separate lease when available. Lots of amenities plus 24/7 PRIVATE SECURITY Community features 4 heated pools, one on the intracoastal with bar and BBQ to watch the boats go by, 6 tennis courts, pickleball, BBQ areas, fitness rooms, 3 clubhouses and more in 30+ lush acres to walk, bike. CONVENIENT-Close to shopping, restaurants and the beach! C

Key facts

• Heated pools
• Pickleball
• Tennis courts

Tags

• WATERFRONT GATED COMPLEX
• OCEAN ACCESS
• PRIVATE SECURITY
• HEATED POOLS
• TENNIS COURTS
• PICKLEBALL

Property features AI

Finance

• HOA & community: Association with amenities including pool, fitness center, billiard room, pickleball courts, picnic area, bike storage, car wash area, kitchen facilities, parking, maintenance, security, and recreation facilities; Quarterly HOA fee

Exterior

• Parking: Assigned parking; Guest parking; Community parking available
• Security: Security guard; Security patrol; Smoke detectors
• Utilities: Cable available
• Home design: Condominium; 2-story building; Second-floor entry
• Construction: CBS construction
• Exterior features: Screened porch; Ocean access with Intracoastal frontage and no fixed bridge; East of US-1 road frontage

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Blinds
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $3,905/mo this rent would consume 50% 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 $9k 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 58 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $170k; list at $295k implies a 74% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $286,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 6.80%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 6.3

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-36,682
• Equity at exit: $43,985

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-8,744
• Equity at exit: $25,506

Cash invested: $82,600 (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: 739
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,905 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$544 /mo · $6,532/yr
• Insurance: −$123
• HOA: −$745
• Vacancy / Maint / Mgmt: −$820
• Net cashflow: $126

Break-even live

Break-even rent $3,746

Max offer price $295,000

Occupancy floor 92%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6299 Bay Club Dr #4 Fort Lauderdale, FL	2.0	2.0	1200	$4,900	$4.08	24d	1	0.12mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1458	$3,700	$2.54	4d	1	0.24mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1396	$3,950	$2.83	24d	2	0.24mi
2321 SE 15th St Unit 2321 Pompano Beach, FL	3.0	2.0	1313	$6,100	$4.65	24d	1	0.26mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,694	$2.47	1d	17	0.27mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$3,716	$3.16	1d	40	0.32mi
2548 SE 14th St Pompano Beach, FL	2.0	2.0	1400	$12,000	$8.57	1d	1	0.34mi
2548 SE 14th St Pompano Beach, FL	2.0	2.0	1400	$12,000	$8.57	24d	1	0.34mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	1d	16	0.35mi
1541 S Ocean Blvd Pompano Beach, FL	1.0	1.5	850	$3,575	$4.21	24d	2	0.63mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,750	$3.22	20d	3	0.65mi
1900 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1165	$3,800	$3.26	7d	2	0.65mi
1900 S Ocean Blvd Unit 1E Pompano Beach, FL	2.0	2.0	1210	$4,500	$3.72	24d	1	0.65mi
1501 S Ocean Blvd #307 Pompano Beach, FL	2.0	2.0	1000	$3,750	$3.75	24d	1	0.66mi
1800 S Ocean Blvd Pompano Beach, FL	2.0–3.0	2.0–2.5	1731	$4,000	$2.31	2d	5	0.66mi
1800 S Ocean Blvd Pompano Beach, FL	2.0	2.0–2.5	1731	$5,300	$3.06	7d	4	0.66mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	20d	3	0.67mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1000	$6,500	$6.50	2d	3	0.67mi
2000 S Ocean Blvd Pompano Beach, FL	1.0–2.0	1.5–2.0	1070	$6,500	$6.07	16d	4	0.67mi
1750 S Ocean Blvd Unit 509E Pompano Beach, FL	2.0	2.0	945	$4,200	$4.44	24d	1	0.68mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	22d	1	0.68mi
6000 N Ocean Blvd Unit 1D Lauderdale by the Sea, FL	2.0	2.0	904	$3,200	$3.54	2d	1	0.68mi
5400 N Ocean Blvd Lauderdale by the Sea, FL	2.0–3.0	2.5	1631	$3,800	$2.33	4d	2	0.70mi
1620 S Ocean Blvd Unit 5M Pompano Beach, FL	1.0	2.0	1116	$5,000	$4.48	24d	1	0.70mi
2169 Imperial Point Dr Fort Lauderdale, FL	2.0	2.0	1300	$4,200	$3.23	24d	1	0.71mi
1461 S Ocean Blvd Pompano Beach, FL	2.0	2.0	920	$3,525	$3.83	5d	2	0.73mi
5200 N Ocean Blvd Unit 203B Lauderdale by the Sea, FL	2.0	2.0	1330	$3,200	$2.41	24d	1	0.75mi
5200 N Ocean Blvd Unit 914A Lauderdale by the Sea, FL	2.0	2.0	1450	$5,000	$3.45	24d	1	0.75mi
1530 S Ocean Blvd #203 Pompano Beach, FL	2.0	2.0	1250	$7,000	$5.60	7d	1	0.75mi
5200 N Ocean Blvd #506 Fort Lauderdale, FL	2.0	2.0	1330	$3,300	$2.48	13d	1	0.76mi
1500 S Ocean Blvd #508 Pompano Beach, FL	2.0	2.0	1070	$3,200	$2.99	2d	1	0.76mi
1500 S Ocean Blvd Pompano Beach, FL	2.0	1.5–2.0	985	$4,000	$4.06	14d	2	0.79mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	24d	1	0.79mi
5100 N Ocean Blvd #804 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,800	$2.71	24d	1	0.79mi
5100 N Ocean Blvd #1205 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,900	$2.79	24d	1	0.79mi
5100 N Ocean Blvd #1504 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,000	$2.86	2d	1	0.79mi
1470 S Ocean Blvd Pompano Beach, FL	2.0	2.0	1250	$4,000	$3.20	24d	3	0.81mi
1421 S Ocean Blvd #503 Pompano Beach, FL	2.0	2.0	1100	$3,750	$3.41	24d	1	0.83mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	24d	1	0.85mi
5000 N Ocean Blvd #908 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,940	$2.75	17d	1	0.85mi

HOA detail condo

• Monthly dues: $745 · $8,940/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-08
   status Pending
2. 2026-03-15
   price $295,000
3. 2026-01-28
   listed $305,900 Active
4. 2013-03-12
   soldstatus $170,000
5. 2002-06-17
   soldstatus $144,300
6. 1994-06-20
   soldstatus $83,000

ⓘ 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: $6,532 · $544/mo
• Projected year-2 tax: $6,532 · $544/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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 24 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: $46,860
• − Mortgage interest: −$16,525
• − Property taxes: −$6,532
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,749
• − Management: −$3,749
• − HOA: −$8,940
• − Depreciation: −$8,582
• Taxable loss: −$2,691
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $2,154/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

+255.4% since first listed

6 events — show timeline

• 2026-05-08 Pending — Beaches MLS
• 2026-03-15 Price Changed $295,000 Beaches MLS
• 2026-01-28 Listed $305,900 Beaches MLS
• 2013-03-12 Sold (Public Records) $170,000 Public Records
• 2002-06-17 Sold (Public Records) $144,300 Public Records
• 1994-06-20 Sold (Public Records) $83,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $6,532 · +7.8% YoY. Source: county tax records.