2048 SW 28th Ter · Fort Lauderdale, FL 33312

$799,000

4 bd · 2.0 ba · 2,186 sqft · SingleFamily public records · 26 Days on market

Built 1968 0.25 ac lot Est $684k · 17% over

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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 +15.1/30.0
• DSCR +4.6/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Fort Lauderdale waterfront lifestyle opportunity with ocean access, oversized lot, and no HOA for less than $1M. Welcome to this beautifully maintained home in a great location, quiet street on a dead end for less traffic; features 4 bedrooms, 2 bathrooms, spacious living and dining room, kitchen, screened in patio perfect for outdoor entertainment, a canal with direct ocean access that fits a boat up to 30 feet, carport and big enough driveway for up to 4 cars. Featuring a desirable split-bedroom floor plan, abundant natural light, and tasteful modern updates throughout, new vinyl waterproof flooring. Enjoy tropical outdoor living with mature fruit and palm trees, lush landscaping, screene

Key facts

• Quiet street
• Oversized lot
• Ocean access

Tags

• OCEAN ACCESS
• OVERSIZED LOT
• NO HOA
• QUIET STREET
• SCREENED IN PATIO
• CANAL WITH DIRECT OCEAN ACCESS

Property features AI

Finance

• HOA & community: Street lights in the community

Exterior

• Parking: Covered driveway parking; Carport (1 space)
• Security: Storm/security shutters
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces west; Resale property
• Construction: Block construction; Shingle roof
• Exterior features: Enclosed porch; Screened porch; Fence; Shed; Storm/security shutters; Fruit trees; Room for pool; Canal access with fixed bridge and ocean access; Waterfront view

Interior

• Kitchen: Gas range; Dishwasher; Microwave; Refrigerator
• Bedrooms: At least one bedroom on the main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: First-floor entry; Bedroom on main level; Vaulted ceilings; Storage room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $799k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $627k (21.5% below list).
• Recommended offer: $627k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); New River Middle School (math 36% / reading 44%, grade F, #368 of 571 statewide, top 65%, 1,587 students, 70% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% 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 (+1.3%/yr); 420 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $6,273/mo this rent would consume 99% of the median local household income ($76k/yr) (locally 1903% 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 $6k of loan paydown is wiped out by about $24k 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 26 days — a 2% lower offer ($787k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $155k; list at $799k implies a 415% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $627,257 (21.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $684,218
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3021 SW 23rd St	0.32mi	4/3.0	2,198 (+0%)	4mo	$741,000	$337	77
1561 SW 23rd Ave	0.51mi	5/3.0 (+1)	2,233 (+2%)	3mo	$1,150,000	$515	61
2091 SW 29th Ave	0.21mi	3/2.0 (-1)	1,998 (-9%)	23mo	$625,000	$313	52
1496 SW 30th Ter	0.51mi	4/2.0	1,885 (-14%)	11mo	$489,900	$260	44
3161 SW 20th St	0.47mi	3/2.0 (-1)	1,970 (-10%)	24mo	$499,500	$254	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.3% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-133,467
• Equity at exit: $119,133

10-year hold

• IRR: -12.2%
• Equity multiple: 0.33×
• Total profit: $-150,505
• Equity at exit: $69,083

Cash invested: $223,720 (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 33312

• Rents YoY: 1.3%
• Active inventory: 420
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $6,273 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$172 /mo · $2,068/yr
• Insurance: −$333
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,317
• Net cashflow: $108

Break-even live

Break-even rent $6,136

Max offer price $799,000

Occupancy floor 93%

Sensitivity live

Price	-10% $560	-5% $334	+0% $108	+5% $-118	+10% $-344
Rent	-10% $-388	-5% $-140	+0% $108	+5% $356	+10% $603
Rate	-1.0pp $510	-0.5pp $311	base $108	+0.5pp $-99	+1.0pp $-310

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2100 SW 28th Way Fort Lauderdale, FL	5.0	4.0	2145	$7,495	$3.49	7d	1	0.12mi
2120 SW 28th Way Fort Lauderdale, FL	5.0	3.0	2778	$14,500	$5.22	7d	1	0.13mi
1754 SW 28th Ter Fort Lauderdale, FL	3.0	2.0	1432	$6,750	$4.71	9d	1	0.14mi
1773 SW 28th Way Fort Lauderdale, FL	3.0	2.0	1430	$4,350	$3.04	26d	1	0.15mi
3160 SW 20th Ct Fort Lauderdale, FL	4.0	3.0	1405	$5,500	$3.91	9d	1	0.45mi
2160 SW 16th Ct Fort Lauderdale, FL	3.0	2.0	1850	$3,900	$2.11	26d	1	0.61mi
3138 SW 15th St Fort Lauderdale, FL	3.0	2.0	1456	$9,000	$6.18	26d	1	0.61mi
3138 SW 15th St Fort Lauderdale, FL	3.0	2.0	1456	$9,000	$6.18	9d	1	0.61mi
3340 SW 18th St Fort Lauderdale, FL	4.0	2.0	1875	$3,550	$1.89	26d	1	0.61mi
3120 SW 12th Pl Fort Lauderdale, FL	3.0	2.0	1532	$2,950	$1.93	26d	1	0.75mi
2600 Marina Bay Dr E Fort Lauderdale, FL	1.0–3.0	1.5–2.0	1099	$3,178	$2.89	0d	17	0.79mi
1300 SW 34th Ave Unit n/a Fort Lauderdale, FL	3.0	2.0	1634	$3,500	$2.14	26d	1	0.86mi
1930 SW 36th Ave Fort Lauderdale, FL	5.0	2.5	2188	$8,495	$3.88	16d	1	0.89mi
1930 SW 36th Ave Fort Lauderdale, FL	5.0	2.5	2188	$8,295	$3.79	7d	1	0.89mi
2518 Gulfstream Ln Fort Lauderdale, FL	3.0	2.0	1550	$4,800	$3.10	26d	1	0.92mi
2518 Gulfstream Ln Fort Lauderdale, FL	3.0	2.0	1550	$4,800	$3.10	6d	1	0.92mi
2320 SW 18th Ter #1 Fort Lauderdale, FL	3.0	2.0	2598	$2,700	$1.04	14d	1	0.96mi
2320 SW 18th Ter #1 Fort Lauderdale, FL	3.0	2.0	2598	$2,600	$1.00	6d	1	0.96mi
3421 SW 12th Ct Unit A Fort Lauderdale, FL	3.0	1.0	1691	$2,849	$1.68	7d	1	1.02mi
3421 SW 12th Ct Unit A Fort Lauderdale, FL	3.0	1.0	1691	$2,849	$1.68	26d	1	1.02mi
3421 SW 12th Ct Fort Lauderdale, FL	3.0	1.0	1500	$2,850	$1.90	20d	1	1.02mi
1721 SW 23rd St Unit 1475645P Fort Lauderdale, FL	5.0	3.5	2863	$9,358	$3.27	24d	1	1.03mi
2407 Nassau Ln Fort Lauderdale, FL	3.0	2.0	1495	$5,000	$3.34	26d	1	1.06mi
2407 Nassau Ln Fort Lauderdale, FL	3.0	2.0	1495	$5,000	$3.34	6d	1	1.06mi
630 SW 28th Dr Fort Lauderdale, FL	3.0	2.0	1467	$3,300	$2.25	26d	1	1.11mi
2028 SW 16th Ter Unit 2028 Fort Lauderdale, FL	4.0	3.5	2903	$5,425	$1.87	26d	1	1.11mi
1501 SW 21st St Fort Lauderdale, FL	3.0	1.5	1946	$2,900	$1.49	26d	1	1.17mi
950 E Dayton Cir Fort Lauderdale, FL	3.0	2.0	1521	$2,699	$1.77	17d	1	1.20mi
1454 SW 23rd St Fort Lauderdale, FL	4.0	3.5	2831	$7,000	$2.47	26d	1	1.21mi
1502 SW 24th St Unit B Fort Lauderdale, FL	3.0	2.0	2021	$3,400	$1.68	18d	1	1.21mi
1502 SW 24th St Unit B Fort Lauderdale, FL	3.0	2.0	2021	$3,400	$1.68	17d	1	1.21mi
1759 SW 30th Pl Fort Lauderdale, FL	5.0	3.0	2127	$11,595	$5.45	16d	1	1.21mi
610 Carolina Ave Unit 2 Fort Lauderdale, FL	4.0	3.0	1865	$2,000	$1.07	16d	1	1.25mi
1541 SW 28th St Unit 1541 Fort Lauderdale, FL	4.0	2.5	1782	$3,950	$2.22	26d	1	1.26mi
1541 SW 28th St Unit 1541 Fort Lauderdale, FL	4.0	2.5	1782	$3,950	$2.22	3d	1	1.26mi
1435 SW 23rd Ct Fort Lauderdale, FL	4.0	3.5	2738	$6,750	$2.47	6d	1	1.27mi
1427 SW 23rd St Fort Lauderdale, FL	4.0	3.5	2632	$7,000	$2.66	26d	1	1.28mi
2637 Sugarloaf Ln Unit 2637 Fort Lauderdale, FL	4.0	3.0	2326	$8,000	$3.44	16d	1	1.29mi
2637 Sugarloaf Ln Fort Lauderdale, FL	4.0	3.0	2326	$8,000	$3.44	18d	1	1.29mi
2637 Sugarloaf Ln Fort Lauderdale, FL	4.0	3.0	2292	$8,000	$3.49	6d	1	1.29mi

Listing history 23 events

1. 2026-06-21
   days on market $799,000 Active 26 DOM
2. 2026-06-18
   days on market $799,000 Active 23 DOM
3. 2026-06-17
   days on market $799,000 Active 22 DOM
4. 2026-06-16
   days on market $799,000 Active 21 DOM
5. 2026-06-15
   days on market $799,000 Active 20 DOM
6. 2026-06-13
   days on market $799,000 Active 18 DOM
7. 2026-06-09
   days on market $799,000 Active 14 DOM
8. 2026-06-08
   days on market $799,000 Active 13 DOM
9. 2026-06-07
   days on market $799,000 Active 12 DOM
10. 2026-06-04
    days on market $799,000 Active 9 DOM
11. 2026-06-03
    days on market $799,000 Active 8 DOM
12. 2026-06-02
    days on market $799,000 Active 7 DOM
13. 2026-06-01
    days on market $799,000 Active 6 DOM
14. 2026-05-31
    days on market $799,000 Active 5 DOM
15. 2026-05-26
    listed $799,000 Active
16. 2026-05-13
    historical
17. 2026-01-30
    listed $799,000 Active
18. 2000-04-13
    soldstatus $155,000
19. 1995-01-04
    soldstatus $97,000
20. 1990-01-25
    soldstatus $94,000
21. 1988-12-28
    soldstatus $60,000
22. 1983-07-01
    soldstatus $75,666
23. 1980-06-01
    soldstatus $73,000

ⓘ 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: $2,068 · $172/mo
• Projected year-2 tax: $6,632 · $553/mo
• Expected delta: +$4,563/yr (+$380/mo · 220.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,271
• − Mortgage interest: −$44,756
• − Property taxes: −$2,068
• − Insurance: −$5,820
• − Repairs & maintenance: −$6,022
• − Management: −$6,022
• − Depreciation: −$23,244
• Taxable loss: −$12,660
• Est. tax savings @ 24.0%: +$3,039
• After-tax cash flow: $4,334/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): 52,798
• Household income: $75,952
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1903.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 34% Hispanic / Latino 32% Black 29% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 6% Salvadoran 1%
• Common ancestry: Hispanic 6% Romanian 3% Italian 1%
• Foreign-born: 33% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 29% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -323.99%
• Current HPI: 382.6298
• Rent YoY: ▲ 1.30%
• 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

+994.5% since first listed

9 events — show timeline

• 2026-05-26 Listed $799,000 MARMLS
• 2026-05-13 Listing Removed — Beaches MLS
• 2026-01-30 Listed $799,000 Beaches MLS
• 2000-04-13 Sold (Public Records) $155,000 Public Records
• 1995-01-04 Sold (Public Records) $97,000 Public Records
• 1990-01-25 Sold (Public Records) $94,000 Public Records
• 1988-12-28 Sold (Public Records) $60,000 Public Records
• 1983-07-01 Sold (Public Records) $75,666 Public Records
• 1980-06-01 Sold (Public Records) $73,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $2,068 · +9.7% YoY. Source: county tax records.