2825 NE 33rd #201 · Fort Lauderdale, FL 33308

$240,500

2 bd · 1.0 ba · 940 sqft · Condo public records · 44 Days on market

Built 1957 $688/mo HOA · 20% of rent

---

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 +19.6/30.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 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

Welcome to Marlin Bay — a hidden waterfront retreat tucked away in one of the area's most peaceful boating communities. This 2-bedroom, 1-bath co-op offers 940 square feet of comfortable living space and a rare opportunity to own directly on the water at an accessible price point. Inside you'll find a functional layout ready to be reimagined. This unit invites the next owner to bring their own vision — whether that means preserving the classic charm or creating a fully modernized waterfront escape with custom finishes and updated touches that fit your lifestyle. The community remains small and quiet, drawing residents who value privacy, and friendly neighbors Oakland Park Blvd e

Key facts

• Updated touches
• Custom finishes
• Functional layout

Tags

• WATERFRONT RETREAT
• FUNCTIONAL LAYOUT
• CUSTOM FINISHES
• UPDATED TOUCHES

Property features AI

Finance

• Other: Private in-ground pool; Waterfront with ocean access and no fixed bridge
• HOA & community: Association with pool; Quarterly HOA fee; HOA covers cable TV, grounds maintenance, common areas, reserves, and pool service

Exterior

• Parking: Open guest parking (1 space total)
• Utilities: Public water; Public sewer; Other utilities
• Home design: Co-ownership (condo/association); 2-story building; Faces east
• Construction: CBS construction; Flat roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator; Freezer; Disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile; Other
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Wall/window unit(s)
• Interior features: Disposal; Dishwasher; Electric range and cooktop; Microwave; Refrigerator; Freezer; Carpet, tile and other flooring; Other window features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (10.9% below list).
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $214k (10.9% below list) — sets the bar for cash-flow.
• Cap rate 7.7% 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: Bayview Elementary School (math 79% / reading 85%, grade A+, #79 of 2,144 statewide, top 4%, 552 students, 23% 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 at 48% FRL track the district average.
• Zoned-school proficiency averages 62% at this address vs 48% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Broward average implies; a family-tenant draw the district grade alone would hide.
• 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 19d 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).
• This rent runs 45% 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 44 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,395 (10.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.45% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 5.7

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: -19.0%
• Equity multiple: 0.33×
• Total profit: $-45,335
• Equity at exit: $35,859

10-year hold

• IRR: -8.7%
• Equity multiple: 0.42×
• Total profit: $-39,006
• Equity at exit: $20,794

Cash invested: $67,340 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,495 high
• Mortgage (P&I): −$1,261
• Tax from tax record: −$432 /mo · $5,190/yr
• Insurance: −$100
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$688
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $-148

Break-even live

Break-even rent $3,682

Max offer price $214,395

Occupancy floor 99%

Sensitivity live

Price	-10% $-12	-5% $-80	+0% $-148	+5% $-216	+10% $-284
Rent	-10% $-424	-5% $-286	+0% $-148	+5% $-10	+10% $128
Rate	-1.0pp $-27	-0.5pp $-87	base $-148	+0.5pp $-210	+1.0pp $-273

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: $60,125
• Closing costs: $7,215
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2841 N Ocean Blvd Fort Lauderdale, FL	2.0	2.0	1150	$3,700	$3.22	16d	3	0.10mi
3020 NE 32nd Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	920	$4,300	$4.67	5d	4	0.14mi
2900 NE 30th St Unit H6 Fort Lauderdale, FL	2.0	2.0	1040	$3,200	$3.08	25d	1	0.18mi
2866 NE 30th St Fort Lauderdale, FL	2.0	2.0	931	$4,900	$5.26	0d	2	0.21mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,400	$2.63	8d	3	0.21mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1325	$3,475	$2.62	18d	3	0.21mi
3031 N Ocean Blvd Fort Lauderdale, FL	2.0–3.0	2.0	1290	$3,200	$2.48	5d	4	0.21mi
2317 N Ocean Blvd Fort Lauderdale, FL	2.0	1.5	980	$4,000	$4.08	25d	1	0.38mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–4.0	1.5–4.5	2873	$6,320	$2.20	8d	4	0.54mi
3430 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1343	$4,980	$3.71	16d	4	0.54mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	25d	1	0.60mi
3500 Galt Ocean Dr #2314 Fort Lauderdale, FL	1.0	1.5	1088	$4,500	$4.14	5d	1	0.60mi
2033 NE 33rd Ave Unit 3 Fort Lauderdale, FL	1.0	1.0	750	$2,900	$3.87	25d	1	0.61mi
2029 N Ocean Blvd Fort Lauderdale, FL	2.0	2.0	1100	$3,350	$3.05	25d	2	0.61mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	21d	1	0.63mi
3605 NE 32nd Ave Unit 209A Fort Lauderdale, FL	2.0	2.0	1000	$3,300	$3.30	2d	1	0.63mi
3700 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1025	$3,790	$3.70	25d	2	0.72mi
2001 N Ocean Blvd #203 Fort Lauderdale, FL	1.0	1.0	890	$2,600	$2.92	25d	1	0.73mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	16d	6	0.80mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,500	$4.20	6d	6	0.80mi
3800 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1071	$4,250	$3.97	4d	7	0.80mi
3850 Galt Ocean Dr #1003 Fort Lauderdale, FL	1.0	1.5	1050	$3,300	$3.14	25d	1	0.83mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	0d	4	0.88mi
3900 Galt Ocean Dr Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1429	$5,600	$3.92	18d	4	0.88mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	5d	3	0.95mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	6d	2	0.95mi
3333 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	736	$3,228	$4.38	0d	12	1.00mi
1881 Middle River Dr Fort Lauderdale, FL	1.0–3.0	1.5–2.0	1095	$2,525	$2.31	13d	2	1.06mi
3411 N Federal Hwy Fort Lauderdale, FL	2.0	1.0–2.0	754	$3,545	$4.70	0d	57	1.11mi
1821 Middle River Dr Unit 2 Fort Lauderdale, FL	1.0	1.0	700	$2,000	$2.86	25d	1	1.16mi
1200 N Fort Lauderdale Beach Blvd #204 Fort Lauderdale, FL	1.0	1.0	702	$2,500	$3.56	25d	1	1.30mi
2724 NE 15th St Apt 1 Fort Lauderdale, FL	2.0	2.0	980	$2,200	$2.24	0d	1	1.31mi
2724 NE 15th St Unit 4 Fort Lauderdale, FL	2.0	2.0	800	$2,700	$3.38	25d	1	1.31mi
4013 N Ocean Dr #102 Fort Lauderdale, FL	1.0	1.5	790	$3,500	$4.43	25d	1	1.35mi
1812 NE 20th Ave Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	6d	1	1.38mi
1812 NE 20th Ave Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	25d	1	1.38mi
1680 NE 34th Ln Unit B Oakland Park, FL	2.0	2.0	1084	$3,100	$2.86	21d	1	1.40mi
2000 NE 18th St Fort Lauderdale, FL	2.0	2.0	975	$2,950	$3.03	25d	1	1.41mi
1354 Bayview Dr Apt E Fort Lauderdale, FL	1.0	1.0	634	$1,800	$2.84	25d	1	1.43mi
1708 NE 20th Ave Unit 4 Fort Lauderdale, FL	1.0	1.0	600	$1,500	$2.50	25d	1	1.45mi

HOA detail condo

• Monthly dues: $688 · $8,256/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $240,500 Active 44 DOM
2. 2026-06-18
   days on market $240,500 Active 41 DOM
3. 2026-06-17
   days on market $240,500 Active 40 DOM
4. 2026-06-16
   days on market $240,500 Active 39 DOM
5. 2026-06-15
   days on market $240,500 Active 38 DOM
6. 2026-06-13
   days on market $240,500 Active 36 DOM
7. 2026-06-09
   days on market $240,500 Active 32 DOM
8. 2026-06-08
   days on market $240,500 Active 31 DOM
9. 2026-06-07
   days on market $240,500 Active 30 DOM
10. 2026-06-04
    days on market $240,500 Active 27 DOM
11. 2026-06-03
    days on market $240,500 Active 26 DOM
12. 2026-06-02
    days on market $240,500 Active 25 DOM
13. 2026-06-01
    days on market $240,500 Active 24 DOM
14. 2026-05-31
    days on market $240,500 Active 23 DOM
15. 2026-05-08
    listed $240,500 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: $5,190 · $432/mo
• Projected year-2 tax: $5,190 · $432/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 6/10 Major FEMA zone AE · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $41,934
• − Mortgage interest: −$13,472
• − Property taxes: −$5,190
• − Insurance: −$6,321
• − Repairs & maintenance: −$3,355
• − Management: −$3,355
• − HOA: −$8,256
• − Depreciation: −$6,996
• Taxable loss: −$5,010
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $-571/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

1 event — show timeline

• 2026-05-08 Listed $240,500 Beaches MLS

Property tax history

+7.6%/yr

Latest (2025): $5,190 · +59.5% YoY. Source: county tax records.