5201 NE 24th Ter Unit A206 · Fort Lauderdale, FL 33308

$145,000

1 bd · 1.0 ba · 650 sqft · Condo public records · 6 Days on market

Built 1965 $444/mo HOA · 13% 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 +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 +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice 1 bed 1 bath East of US1. Second floor Recently remodeled. Ceramic floor throughout. Stainless steel appliances, granite countertop. Hurricane proof windows, Laundry in each floor. AC and electric panel 2022. Whater heater 2019. Extra storage. Maintenance cover, Insurance, cable, water, and trash. Building amenities, BBQ area, GYM, pool and more. Short distance to the beautiful For Lauderdale beaches. Tenant pays $1,600 Lease expires 10/2026 Tenant can stay or move out. Per HOA new owner CANNOT RENT. ASSOCIATION HAS RESERVE YOU MAY FINANCE WITH AS LITLE AS 3% CONVENTIONAL.

Key facts

• Recently remodeled
• Granite countertop
• Ceramic floor

Tags

• RECENTLY REMODELED
• CERAMIC FLOOR
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOP
• HURRICANE PROOF WINDOWS
• LAUNDRY IN EACH FLOOR

Property features AI

Finance

• Other: Annual tax noted (not included per instructions)
• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $444; HOA covers common areas, cable TV, insurance, and structure maintenance; Community amenities include clubhouse, elevators, laundry, barbecue area, picnic area, pool, and shuffleboard court

Exterior

• Parking: One assigned parking space
• Utilities: Has cooling (central air)
• Home design: Attached property; 2-story building; Entry on second floor
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Association pool; Picnic area; Shuffleboard court

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: One full bathroom; Shower-only configuration
• Heating & cooling: Central air conditioning; Ceiling fans
• Interior features: Blinds on windows; Elevator in building; Second-floor entry; Living/dining room layout; Shower-only bathroom
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Cap rate 15.5% 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.
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 43% 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 $4k 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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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.
• Current owner paid $69k; list at $145k implies a 110% gain — meaningful room to come down on a strong offer.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.30% ✓
• Cap rate: 15.52%
• Cash-on-cash: 32.97%
• DSCR: 2.47
• GRM: 3.6

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: 29.2%
• Equity multiple: 2.23×
• Total profit: $50,033
• Equity at exit: $21,620

10-year hold

• IRR: 37.0%
• Equity multiple: 4.58×
• Total profit: $145,358
• Equity at exit: $12,537

Cash invested: $40,600 (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: 3.6×

Monthly cashflow live

• Estimated rent: $3,331 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$251 /mo · $3,014/yr
• Insurance: −$60
• HOA: −$444
• Vacancy / Maint / Mgmt: −$699
• Net cashflow: $1,115

Break-even live

Break-even rent $1,919

Max offer price $145,000

Occupancy floor 62%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	1.14mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.42mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.42mi

HOA detail condo

• Monthly dues: $444 · $5,328/yr
• Likely covers: watertrashelectriccablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $145,000 Active 6 DOM
2. 2026-06-17
   days on market $145,000 Active 5 DOM
3. 2026-06-16
   remarks 584-char remark
4. 2026-06-16
   days on market $145,000 Active 4 DOM
5. 2026-06-15
   days on market $145,000 Active 3 DOM
6. 2026-06-13
   remarks 509-char remark
7. 2026-06-13
   listed $145,000 Active 1 DOM

ⓘ 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: $3,014 · $251/mo
• Projected year-2 tax: $3,014 · $251/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $39,969
• − Mortgage interest: −$8,122
• − Property taxes: −$3,014
• − Insurance: −$725
• − Repairs & maintenance: −$3,198
• − Management: −$3,198
• − HOA: −$5,328
• − Depreciation: −$4,218
• Taxable income: $12,167
• Est. tax owed @ 24.0%: −$2,920
• After-tax cash flow: $10,464/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

+281.6% since first listed

8 events — show timeline

• 2026-06-12 Listed $145,000 MARMLS
• 2025-10-01 Listing Removed — MARMLS
• 2025-09-30 Relisted — MARMLS
• 2025-09-09 Listed $165,000 MARMLS
• 2024-09-13 Rental Removed $1,700 GFLMLS
• 2024-09-11 Listed for Rent $1,700 GFLMLS
• 2014-01-27 Sold (Public Records) $69,000 Public Records
• 1996-01-13 Sold (Public Records) $38,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $3,014 · +8.3% YoY. Source: county tax records.