4848 NE 23 Ave Unit 9C · Fort Lauderdale, FL 33308

$227,000

1 bd · 1.0 ba · 740 sqft · Condo public records · 91 Days on market

Built 1964 $647/mo HOA · 21% 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 +23.2/30.0
• 1% rule +8.4/10.0
• DSCR +7.5/10.0
• 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

Located on the prestigious Coral Ridge Country Club golf course this corner unit has it all! Beautifully remodeled from top to bottom this light and bright condo features golf course and pool views from the spacious screened patio, an open kitchen floor plan with custom cabinetry, gorgeous quartz countertops, updated bathroom, recessed lighting, huge walk-in closet, several impact windows and more! Located approximately one mile to the beach and close to excellent restaurants, hospitals and shopping! All assessments have been paid by the seller.

Key facts

• Screened patio
• Custom cabinetry
• Quartz countertops

Tags

• GOLF COURSE VIEWS
• POOL VIEWS
• SCREENED PATIO
• OPEN KITCHEN FLOOR PLAN
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS

Property features AI

Finance

• HOA & community: Monthly HOA: $647; HOA includes maintenance of grounds and structure, trash, water, common areas, elevator; Community amenities: pool, picnic area, storage

Exterior

• Parking: Guest parking
• Utilities: Cable available
• Home design: Condominium; Resale; 3-story building; Third floor entry
• Construction: Block construction
• Exterior features: Screened porch; Porch; Third-floor entry

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Garbage disposal
• Bedrooms: 1 bedroom (main level)
• Flooring: Tile; Other
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Kitchen island; Window treatments: blinds and drapes with rods
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $227k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $227k).
• Recommended offer: $207k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Zoned schools: Bennett Elementary School (math 32% / reading 42%, grade F, #1,609 of 2,144 statewide, top 77%, 329 students, 80% FRL); Sunrise Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,242 students, 64% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 5 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 39% 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 $2k of loan paydown is wiped out by about $7k 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 91 days — a 9% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $110k; list at $227k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $206,570 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1964 — 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: 1.34% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 6.2

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-8,348
• Equity at exit: $33,846

10-year hold

• IRR: 7.2%
• Equity multiple: 1.56×
• Total profit: $35,785
• Equity at exit: $19,627

Cash invested: $63,560 (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: 6.2×

Monthly cashflow live

• Estimated rent: $3,049 high
• Mortgage (P&I): −$1,190
• Tax from tax record: −$66 /mo · $792/yr
• Insurance: −$95
• HOA: −$647
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $411

Break-even live

Break-even rent $2,529

Max offer price $227,000

Occupancy floor 82%

Sensitivity live

Price	-10% $540	-5% $475	+0% $411	+5% $347	+10% $283
Rent	-10% $170	-5% $291	+0% $411	+5% $532	+10% $652
Rate	-1.0pp $525	-0.5pp $469	base $411	+0.5pp $352	+1.0pp $292

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: $56,750
• Closing costs: $6,810
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	18d	1	1.21mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.24mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	5d	3	1.24mi
3411 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	754	$2,885	$3.83	3d	59	1.29mi
3333 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	736	$2,677	$3.63	2d	13	1.42mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $227,000 Active 91 DOM
2. 2026-06-17
   days on market $227,000 Active 90 DOM
3. 2026-06-16
   days on market $227,000 Active 89 DOM
4. 2026-06-15
   days on market $227,000 Active 88 DOM
5. 2026-06-13
   days on market $227,000 Active 86 DOM
6. 2026-06-10
   price $227,000 Active 82 DOM
7. 2026-06-01
   days on market $229,000 Active 82 DOM
8. 2026-05-31
   days on market $229,000 Active 81 DOM
9. 2025-11-29
   listed $229,000 Active
10. 2025-11-21
    historical
11. 2025-04-21
    listed $250,000 Active
12. 2025-04-11
    historical
13. 2024-10-28
    price $295,000
14. 2024-09-14
    price $305,000
15. 2024-04-10
    listed $315,000 Active
16. 2024-03-24
    historical
17. 2023-03-12
    listed $328,000 Active
18. 2019-10-17
    soldstatus $110,000
19. 2013-12-06
    soldstatus $120,000
20. 2004-05-07
    soldstatus $125,000
21. 2002-09-03
    soldstatus $92,000
22. 1999-11-30
    soldstatus $47,500

ⓘ 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: $792 · $66/mo
• Projected year-2 tax: $1,884 · $157/mo
• Expected delta: +$1,092/yr (+$91/mo · 137.8%)

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

Taxation est. · year 1

• Rental income: $36,594
• − Mortgage interest: −$12,716
• − Property taxes: −$792
• − Insurance: −$1,135
• − Repairs & maintenance: −$2,927
• − Management: −$2,927
• − HOA: −$7,764
• − Depreciation: −$6,604
• Taxable income: $1,728
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $4,518/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

+382.1% since first listed

14 events — show timeline

• 2025-11-29 Listed $229,000 Beaches MLS
• 2025-11-21 Listing Removed — MARMLS
• 2025-04-21 Listed $250,000 MARMLS
• 2025-04-11 Listing Removed — MARMLS
• 2024-10-28 Price Changed $295,000 MARMLS
• 2024-09-14 Price Changed $305,000 MARMLS
• 2024-04-10 Listed $315,000 MARMLS
• 2024-03-24 Listing Removed — MARMLS
• 2023-03-12 Listed $328,000 MARMLS
• 2019-10-17 Sold (Public Records) $110,000 Public Records
• 2013-12-06 Sold (Public Records) $120,000 Public Records
• 2004-05-07 Sold (Public Records) $125,000 Public Records
• 2002-09-03 Sold (Public Records) $92,000 Public Records
• 1999-11-30 Sold (Public Records) $47,500 Public Records

Property tax history

-1.8%/yr

Latest (2025): $792 · +14.9% YoY. Source: county tax records.