3200 NE 36th St #609 · Fort Lauderdale, FL 33308

$275,000

2 bd · 2.0 ba · 1,120 sqft · Condo public records · 18 Days on market

Built 1963 $967/mo HOA

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Why this score? — see what drove the D+ 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 +13.8/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 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

Introducing apartment 609, a bright and happy corner unit at Coral Ridge Towers North; a financially stable 55+ Cooperative Apartment Building. This two bedroom and bathroom home has direct intracoastal views so you can relax and watch the boats go by. The kitchen has a functional layout and the bathrooms are updated. This 55+ Co-Op community located on the barrier island has shopping, grocery stores and restaurants close by. The beach is conveniently located. Coral Ridge Towers North offers amenities including a heated pool, gym, library, outdoor barbecue, new clubhouse, deck and more. Coral Ridge Towers North is a financially stable community with fully-funded reserves. Includes cable and

Key facts

• Updated bathrooms
• Gym
• Functional layout

Tags

• DIRECT INTRACOASTAL VIEWS
• FUNCTIONAL LAYOUT
• UPDATED BATHROOMS
• HEATED POOL
• GYM
• LIBRARY

Property features AI

Finance

• Other: Building has 17 stories; Building name: Coral Ridge Towers North; Building area reported from public records; Road frontage: state road (east of US-1); Road surface is paved asphalt on publicly maintained roads; Property condition: resale; Senior community
• Financial info: No land lease; Pets not allowed
• HOA & community: Association: Galt Plaza Apartments, Inc.; Monthly association fee; Association amenities include elevator(s), heated pool, fitness center, laundry, parking, pool, shuffleboard, storage, bike storage, community room, library, car wash area, manager on site, trash chute, Internet included, maintained community, security, recreation facilities, management, and trash service; Association fee includes cable TV, insurance, Internet, grounds and structure maintenance, pest control, security, sewer, trash, water, common areas, elevator, reserve funds, and pool service

Exterior

• Parking: Assigned parking; Guest parking; Asphalt open parking (1 space total)
• Security: Closed circuit cameras; Fire alarm; Fire sprinkler system; Security guard; Smoke detectors; Security system; Attended lobby
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water available; Sewer available
• Home design: Stock cooperative; One level; Outside corner deluxe model; Entry at level 1; Faces northeast
• Construction: Pre-cast concrete construction; Flat roof
• Exterior features: Perimeter fencing; Many trees; Fruit trees; Sidewalks; Landscaped grounds; Ocean access and Intracoastal waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater (owned)
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout; Closet cabinetry; Blinds; Storm windows; Sliding windows
• Laundry & utility: Laundry in common area; Inside laundry; Multiple laundry locations

🏢 Co-op / cooperative unit. The $275,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $26 ($308/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.4% 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); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $3,950/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 $8k 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 18 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: moderate flood risk; 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 $270,875 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.44% ✓
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-39,614
• Equity at exit: $41,003

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-18,695
• Equity at exit: $23,777

Cash invested: $77,000 (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: $3,950 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$571 /mo · $6,851/yr
• Insurance: −$115
• HOA: −$967
• Vacancy / Maint / Mgmt: −$829
• Net cashflow: $26

Break-even live

Break-even rent $3,917

Max offer price $275,000

Occupancy floor 94%

Sensitivity live

Price	-10% $181	-5% $104	+0% $26	+5% $-52	+10% $-130
Rent	-10% $-286	-5% $-130	+0% $26	+5% $182	+10% $338
Rate	-1.0pp $164	-0.5pp $96	base $26	+0.5pp $-46	+1.0pp $-118

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	2d	1	0.08mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	21d	1	0.08mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1343	$4,980	$3.71	16d	4	0.30mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–4.0	1.5–4.5	2873	$6,320	$2.20	8d	4	0.30mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	5d	1	0.30mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	25d	1	0.30mi
3750 Galt Ocean Dr #209 Fort Lauderdale, FL	1.0	1.5	1187	$4,000	$3.37	25d	1	0.33mi
3700 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1025	$3,790	$3.70	25d	2	0.33mi
3600 Galt Ocean Dr Unit 9C Fort Lauderdale, FL	2.0	2.0	1155	$4,000	$3.46	25d	1	0.34mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	16d	6	0.37mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	6d	6	0.37mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,250	$3.97	4d	7	0.37mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,200	$2.48	5d	4	0.38mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,400	$2.63	9d	3	0.38mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1325	$3,475	$2.62	18d	3	0.38mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	25d	1	0.39mi
3020 NE 32nd Ave Fort Lauderdale, FL	2.0	2.0	1185	$3,875	$3.27	9d	3	0.41mi
3020 NE 32nd Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	920	$4,300	$4.67	5d	4	0.41mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	0d	4	0.42mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	18d	4	0.42mi
2900 NE 30th St Unit H6 Fort Lauderdale, FL	2.0	2.0	1040	$3,200	$3.08	25d	1	0.43mi
2866 NE 30th St Fort Lauderdale, FL	2.0	2.0	931	$4,900	$5.26	0d	2	0.46mi
4010 Galt Ocean Dr #802 Fort Lauderdale, FL	2.0	2.0	1190	$5,000	$4.20	16d	1	0.47mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	1355	$5,000	$3.69	15d	2	0.48mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	6d	2	0.48mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1190	$3,150	$2.65	22d	2	0.48mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	5d	3	0.48mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1553	$8,750	$5.63	6d	6	0.51mi
4020 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1536	$8,750	$5.69	5d	7	0.51mi
2841 N Ocean Blvd Fort Lauderdale, FL	2.0	2.0	1150	$3,700	$3.22	16d	3	0.53mi
2831 N Ocean Blvd Unit 702N Fort Lauderdale, FL	2.0	2.0	1274	$5,200	$4.08	4d	1	0.58mi
2831 N Ocean Blvd Unit 801N Fort Lauderdale, FL	2.0	2.0	1468	$6,000	$4.09	25d	1	0.58mi
2831 N Ocean Blvd Unit 702N Fort Lauderdale, FL	2.0	2.0	1274	$5,200	$4.08	25d	1	0.58mi
2821 N Ocean Blvd Unit 401S Fort Lauderdale, FL	2.0	2.0	1468	$5,750	$3.92	25d	1	0.59mi
2821 N Ocean Blvd Unit 806S Fort Lauderdale, FL	2.0	2.0	1274	$5,900	$4.63	19d	1	0.59mi
2821 N Ocean Blvd Unit 1102S Fort Lauderdale, FL	2.0	2.0	1274	$4,500	$3.53	25d	1	0.59mi
2821 N Ocean Blvd Unit 401S Fort Lauderdale, FL	2.0	2.0	1468	$5,500	$3.75	12d	1	0.59mi
2715 N Ocean Blvd Unit 10C Fort Lauderdale, FL	2.0	2.0	1200	$4,500	$3.75	9d	1	0.65mi
4250 Galt Ocean Dr Fort Lauderdale, FL	2.0	2.0	1350	$3,650	$2.70	3d	2	0.66mi
2701 N Ocean Blvd Unit 2B Fort Lauderdale, FL	2.0	2.0	1200	$3,100	$2.58	21d	1	0.69mi

HOA detail condo

• Monthly dues: $967 · $11,604/yr
• Likely covers: cablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-01
   status Pending
2. 2026-04-26
   historical Active Under Contract
3. 2026-04-10
   listed $275,000 Active

ⓘ 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: $6,851 · $571/mo
• Projected year-2 tax: $6,851 · $571/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 5/10 Major FEMA zone X (shaded) · 44% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,397
• − Mortgage interest: −$15,404
• − Property taxes: −$6,851
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,792
• − Management: −$3,792
• − HOA: −$11,604
• − Depreciation: −$8,000
• Taxable loss: −$3,421
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $1,129/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

3 events — show timeline

• 2026-05-01 Pending — Beaches MLS
• 2026-04-26 Contingent — Beaches MLS
• 2026-04-10 Listed $275,000 Beaches MLS

Property tax history

+7.6%/yr

Latest (2025): $6,851 · +5.3% YoY. Source: county tax records.