5200 NW 31st Ave #92 · Fort Lauderdale, FL 33309

$145,000

2 bd · 3.0 ba · 1,032 sqft · Condo public records

Built 1987 $26/mo HOA · 1% of rent ↓ 33% since listing

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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 +27.5/30.0
• DSCR +9.7/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

BEAUTIFUL AND BRIGHT 2 BEDROOMS AND 2 BATHS APARTMENT, BALCONY , GREAT LAKEVIEW, GREAT LOCATION , GATED COMMUNITY , POOL, RECENTLY PAINTED, NEW WASHER AND DRYER

Key facts

• $26 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 9.9% 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 soft (-0.5%/yr); 343 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).
• This rent runs 33% of the median local income ($77k/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 $1k of loan paydown is wiped out by about $4k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $145,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.46% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,078
• Equity at exit: $21,620

10-year hold

• IRR: 4.1%
• Equity multiple: 1.25×
• Total profit: $10,320
• Equity at exit: $12,537

Cash invested: $40,600 (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 33309

• Home prices YoY: -26.6%
• Rents YoY: -0.5%
• Active inventory: 343
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,110 high
• Mortgage (P&I): −$760
• Tax from tax record: −$390 /mo · $4,678/yr
• Insurance: −$60
• HOA: −$26
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $431

Break-even live

Break-even rent $1,565

Max offer price $145,000

Occupancy floor 75%

Sensitivity live

Price	-10% $513	-5% $472	+0% $431	+5% $390	+10% $349
Rent	-10% $264	-5% $347	+0% $431	+5% $514	+10% $597
Rate	-1.0pp $504	-0.5pp $468	base $431	+0.5pp $393	+1.0pp $355

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5200 NW 31st Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.5	867	$1,900	$2.19	8d	4	0.18mi
2853 W Commercial Blvd Fort Lauderdale, FL	2.0	1.0–2.0	750	$2,415	$3.22	24d	2	0.24mi
4901 NW 27th Way Fort Lauderdale, FL	2.0	1.0	1008	$2,750	$2.73	5d	1	0.36mi
216 Lake Pointe Dr Oakland Park, FL	2.0	2.0	890	$1,950	$2.19	24d	2	0.49mi
215 Lake Pointe Dr #211 Oakland Park, FL	2.0	2.0	890	$1,900	$2.13	8d	1	0.50mi
215 Lake Pointe Dr Oakland Park, FL	2.0	2.0	890	$1,845	$2.07	15d	2	0.51mi
213 Lake Pointe Dr #211 Oakland Park, FL	2.0	2.0	890	$1,990	$2.24	8d	1	0.55mi
201 Lake Pointe Dr #202 Oakland Park, FL	2.0	2.0	910	$2,100	$2.31	24d	1	0.58mi
3100 NW 46th St #107 Fort Lauderdale, FL	2.0	2.0	1075	$2,200	$2.05	22d	1	0.58mi
213 Lake Pointe Dr Oakland Park, FL	2.0	2.0–2.5	890	$1,894	$2.13	15d	2	0.59mi
212 Lake Pointe Dr Oakland Park, FL	2.0	2.0	890	$1,950	$2.19	24d	2	0.59mi
210 Lake Pointe Dr #114 Oakland Park, FL	2.0	2.0	890	$1,775	$1.99	24d	1	0.66mi
211 Lake Pointe Dr Oakland Park, FL	1.0–2.0	1.0–2.0	805	$1,900	$2.36	3d	2	0.68mi
3299 NW 44th St #2 Fort Lauderdale, FL	3.0	2.5	1273	$2,495	$1.96	24d	1	0.68mi
3457 NW 44th St #205 Lauderdale Lakes, FL	2.0	2.0	1096	$2,200	$2.01	1d	1	0.69mi
3457 NW 44th St #205 Lauderdale Lakes, FL	2.0	2.0	1096	$2,200	$2.01	24d	1	0.69mi
3453 NW 44th St Lauderdale Lakes, FL	2.0	2.0	1020	$2,050	$2.01	5d	2	0.70mi
3445 NW 44th St Lauderdale Lakes, FL	2.0	2.0	1058	$2,150	$2.03	24d	2	0.72mi
3473 NW 44th St Lauderdale Lakes, FL	1.0	1.0	861	$1,750	$2.03	24d	2	0.77mi
3473 NW 44th St Lauderdale Lakes, FL	1.0	1.0	850	$1,750	$2.06	15d	1	0.77mi
3275 NW 44th St #2 Fort Lauderdale, FL	3.0	2.5	1273	$3,000	$2.36	24d	1	0.78mi
3445 NW 44th St #206 Lauderdale Lakes, FL	2.0	2.0	1096	$2,100	$1.92	12d	1	0.78mi
2800 NW 44th St Oakland Park, FL	1.0–2.0	1.0	1166	$2,199	$1.89	3d	18	0.78mi
3441 NW 44th St #104 Lauderdale Lakes, FL	2.0	2.0	1020	$1,975	$1.94	8d	1	0.83mi
3437 NW 44th St #107 Lauderdale Lakes, FL	2.0	2.0	1020	$2,100	$2.06	24d	1	0.86mi
3437 NW 44th St #107 Lauderdale Lakes, FL	2.0	2.0	1020	$2,000	$1.96	5d	1	0.86mi
3401 NW 44th St #205 Lauderdale Lakes, FL	2.0	2.0	1096	$2,000	$1.82	3d	1	0.86mi
105 Lake Emerald Dr #708 Oakland Park, FL	1.0	1.5	990	$1,895	$1.91	24d	1	0.91mi
3409 NW 44th St Lauderdale Lakes, FL	2.0	2.0	1096	$1,850	$1.69	4d	2	0.91mi
3409 NW 44th St Lauderdale Lakes, FL	2.0	2.0	1096	$1,800	$1.64	3d	1	0.91mi
6171 NW 33rd Ter Fort Lauderdale, FL	2.0	2.0	1150	$3,000	$2.61	24d	1	0.93mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	12d	1	0.93mi
3413 NW 44th St #107 Lauderdale Lakes, FL	2.0	2.0	1020	$1,900	$1.86	24d	1	0.94mi
3413 NW 44th St #107 Lauderdale Lakes, FL	2.0	2.0	1020	$1,900	$1.86	22d	1	0.94mi
3417 NW 44th St #101 Lauderdale Lakes, FL	2.0	2.0	1020	$2,495	$2.45	21d	1	0.97mi
3700 Pacific Point Pl Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1030	$2,344	$2.28	2d	19	0.98mi
4031 NW 30th Ter Unit 1 Lauderdale Lakes, FL	1.0	1.0	800	$1,690	$2.11	8d	1	1.00mi
4001 NW 31st Ave Unit 4 Lauderdale Lakes, FL	2.0	2.0	850	$2,000	$2.35	17d	1	1.04mi
1906 NW 45th Ct Fort Lauderdale, FL	2.0	1.0	1008	$2,400	$2.38	5d	1	1.05mi
3050 NW 68th St Unit 1101 Fort Lauderdale, FL	1.0	1.0	710	$2,000	$2.82	24d	1	1.07mi

HOA detail condo

• Monthly dues: $26 · $312/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2020-11-04
   soldstatus $140,000
2. 2018-03-13
   soldstatus $140,000
3. 2018-02-05
   historical
4. 2018-01-03
   listed $145,000
5. 2017-11-12
   historical
6. 2017-08-25
   listed $142,000
7. 2015-03-10
   soldstatus $97,000 Sold
8. 2015-03-03
   status Pending
9. 2015-02-27
   soldstatus $92,500
10. 2014-12-06
    listed $99,000 Active
11. 2005-09-26
    soldstatus $210,000

ⓘ 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: $4,678 · $390/mo
• Projected year-2 tax: $4,678 · $390/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,326
• − Mortgage interest: −$8,122
• − Property taxes: −$4,678
• − Insurance: −$725
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − HOA: −$312
• − Depreciation: −$4,218
• Taxable income: $3,218
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $4,395/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): 37,475
• Household income: $77,321
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 1596.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 43% Hispanic / Latino 28% White 22% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 15% Lithuanian 1% Romanian 1%
• Foreign-born: 38% · Canada, Jamaica, Dominican Republic
• Languages at home: 55% English-only · Spanish 25% French/Haitian/Cajun 17% 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: ▼ -158.71%
• Current HPI: 439.091
• Rent YoY: ▼ -0.50%
• 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

-33.3% since first listed

11 events — show timeline

• 2020-11-04 Sold (Public Records) $140,000 Public Records
• 2018-03-13 Sold (Public Records) $140,000 Public Records
• 2018-02-05 Listing Removed — MARMLS
• 2018-01-03 Listed $145,000 MARMLS
• 2017-11-12 Listing Removed — MARMLS
• 2017-08-25 Listed $142,000 MARMLS
• 2015-03-10 Sold (MLS) $97,000 MARMLS
• 2015-03-03 Pending — MARMLS
• 2015-02-27 Sold (Public Records) $92,500 Public Records
• 2014-12-06 Listed $99,000 MARMLS
• 2005-09-26 Sold (Public Records) $210,000 Public Records

Property tax history

+10.9%/yr

Latest (2025): $4,678 · +8.6% YoY. Source: county tax records.