1851 NE 62nd St #610 · Fort Lauderdale, FL 33308

$109,900

1 bd · 1.0 ba · 650 sqft · Condo public records · 101 Days on market

Built 1966 $508/mo HOA · 21% 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 MLS

Welcome Home! This updated first floor 1BR/1BA home is move-in ready. Georgian Court is just 2.5 miles to the beach; the community has a pool and clubhouse. Enjoying grilling and have a picnic on the lovely grounds. This is NOT A 55+ Community. No lease for 2 years. No lease shall be for less than 3 months or for more than 12 months. Cash only.

Key facts

• Modern flooring
• Spacious living area
• Natural light

Tags

• INVESTMENT OPPORTUNITY
• PARKING SPACE
• MODERN FLOORING
• NATURAL LIGHT
• SPACIOUS LIVING AREA

Property features AI

Finance

• Financial info: Lease considered; Pets not allowed
• HOA & community: Monthly association fee ($508); Association covers management, amenities, laundry, grounds maintenance, pool(s) and water; Community amenities include clubhouse, laundry, barbecue and picnic area

Exterior

• Parking: Assigned parking; 1 covered parking space; 1-car garage
• Utilities: Has heating and cooling
• Home design: Attached property; 2-story building; Entry on level 1
• Construction: Block construction; Year built: Unknown
• Exterior features: Barbecue; Courtyard

Interior

• Kitchen: Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Bedroom on main level; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 31% 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 $760 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask is 98025% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $70k; list at $110k implies a 57% gain — meaningful room to come down on a strong offer.

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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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. 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: 2.21% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.47%
• DSCR: 2.04
• GRM: 3.8

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: 17.8%
• Equity multiple: 1.73×
• Total profit: $22,449
• Equity at exit: $16,386

10-year hold

• IRR: 27.0%
• Equity multiple: 3.50×
• Total profit: $76,892
• Equity at exit: $9,502

Cash invested: $30,772 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,432 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$189 /mo · $2,272/yr
• Insurance: −$46
• HOA: −$508
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $602

Break-even live

Break-even rent $1,670

Max offer price $109,900

Occupancy floor 70%

Sensitivity live

Price	-10% $664	-5% $633	+0% $602	+5% $571	+10% $540
Rent	-10% $410	-5% $506	+0% $602	+5% $698	+10% $794
Rate	-1.0pp $657	-0.5pp $630	base $602	+0.5pp $573	+1.0pp $544

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6500 N Andrews Ave Fort Lauderdale, FL	2.0	1.0–2.0	943	$2,600	$2.76	3d	31	1.45mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,963	$2.52	2d	40	1.46mi

HOA detail condo

• Monthly dues: $508 · $6,096/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $109,900 Active 101 DOM
2. 2026-06-17
   days on market $109,900 Active 100 DOM
3. 2026-06-16
   days on market $109,900 Active 99 DOM
4. 2026-06-15
   days on market $109,900 Active 98 DOM
5. 2026-06-13
   days on market $109,900 Active 96 DOM
6. 2026-06-09
   days on market $109,900 Active 92 DOM
7. 2026-06-07
   days on market $109,900 Active 90 DOM
8. 2026-06-04
   days on market $109,900 Active 87 DOM
9. 2026-06-03
   days on market $109,900 Active 86 DOM
10. 2026-06-02
    days on market $109,900 Active 85 DOM
11. 2026-06-01
    days on market $109,900 Active 84 DOM
12. 2026-05-31
    days on market $109,900 Active 83 DOM
13. 2026-04-22
    price $109,900
14. 2026-03-10
    price $111,999
15. 2026-03-10
    price $112,000
16. 2026-03-09
    listed $112 Active
17. 2025-05-17
    historical $1,400
18. 2025-05-13
    listed $1,400
19. 2025-04-29
    historical $1,400
20. 2025-04-03
    price $1,400
21. 2025-02-28
    price $1,450
22. 2024-12-05
    listed $1,565
23. 2021-06-30
    soldstatus $70,000 Closed 346-char remark

    Show marketing remark (346 chars)

    Welcome Home! This updated first floor 1BR/1BA home is move-in ready. Georgian Court is just 2.5 miles to the beach; the community has a pool and clubhouse. Enjoying grilling and have a picnic on the lovely grounds. This is NOT A 55+ Community. No lease for 2 years. No lease shall be for less than 3 months or for more than 12 months. Cash only.

24. 2021-05-23
    historical Active Under Contract 346-char remark

    Show marketing remark (346 chars)

    Welcome Home! This updated first floor 1BR/1BA home is move-in ready. Georgian Court is just 2.5 miles to the beach; the community has a pool and clubhouse. Enjoying grilling and have a picnic on the lovely grounds. This is NOT A 55+ Community. No lease for 2 years. No lease shall be for less than 3 months or for more than 12 months. Cash only.

25. 2021-05-14
    listed $75,000 Active 346-char remark

    Show marketing remark (346 chars)

    Welcome Home! This updated first floor 1BR/1BA home is move-in ready. Georgian Court is just 2.5 miles to the beach; the community has a pool and clubhouse. Enjoying grilling and have a picnic on the lovely grounds. This is NOT A 55+ Community. No lease for 2 years. No lease shall be for less than 3 months or for more than 12 months. Cash only.

ⓘ 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: $2,272 · $189/mo
• Projected year-2 tax: $2,272 · $189/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) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 22 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: $29,183
• − Mortgage interest: −$6,156
• − Property taxes: −$2,272
• − Insurance: −$550
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − HOA: −$6,096
• − Depreciation: −$3,197
• Taxable income: $6,243
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $5,723/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

+46.5% since first listed

13 events — show timeline

• 2026-04-22 Price Changed $109,900 MARMLS
• 2026-03-10 Price Changed $111,999 MARMLS
• 2026-03-10 Price Changed $112,000 MARMLS
• 2026-03-09 Listed $112 MARMLS
• 2025-05-17 Rental Removed $1,400 GFLMLS
• 2025-05-13 Listed for Rent $1,400 GFLMLS
• 2025-04-29 Rental Removed $1,400 GFLMLS
• 2025-04-03 Price Changed $1,400 GFLMLS
• 2025-02-28 Price Changed $1,450 GFLMLS
• 2024-12-05 Listed for Rent $1,565 GFLMLS
• 2021-06-30 Sold (MLS) $70,000 Beaches MLS
• 2021-05-23 Contingent — Beaches MLS
• 2021-05-14 Listed $75,000 Beaches MLS

Property tax history

+14.3%/yr

Latest (2025): $2,272 · +6.2% YoY. Source: county tax records.