1432 NE 5th Ave · Fort Lauderdale, FL 33304

$1,100,000

12 bd · 16.0 ba · 2,317 sqft · MultiFamily · 38 Days on market

Built 1965

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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
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.9/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Mortgage is assumable. All units are tenant occupied, providing immediate income from day one. Seller is motivated and open to creative financing opportunities. Exceptional 4-unit multifamily investment in Fort Lauderdale’s highly desirable Middle River Terrace neighborhood, minutes from Wilton Manors, Flagler Village, Las Olas Boulevard, Downtown Fort Lauderdale, and Fort Lauderdale Beach. Convenient access to I-95, Galleria Mall, Whole Foods, Publix, shopping, dining, nightlife, and major employment centers. Strong rental demand, ongoing area redevelopment, and continued population growth make this an attractive opportunity for investors seeking stable cash flow and long-term apprec

Key facts

• Strong rental demand
• Prime location
• Ongoing development

Tags

• MULTIFAMILY OPPORTUNITY
• PRIME LOCATION
• STRONG RENTAL DEMAND
• ONGOING DEVELOPMENT
• SHORT-TERM RENTAL POTENTIAL

Property features AI

Finance

• Other: Property is multi-unit (four units total); All units listed as unfurnished; All units are currently leased
• Financial info: Rent includes gardener, sewer, trash collection, and water for rented units; Unit rents shown: $1,650; $1,700; $2,000; $1,550
• HOA & community: No HOA information listed

Exterior

• Parking: Five total parking spaces; Each unit includes a parking space
• Security: No security features listed
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story building; Block construction; Barrel roof; Zoned RM-15
• Construction: Block construction; Barrel roof; Effective year built
• Exterior features: Fenced yard; Porch; Open wrap-around porch

Interior

• Kitchen: No specific appliances listed
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; Two efficiency units
• Flooring: Tile
• Bathrooms: All units have one full bathroom each
• Heating & cooling: Central heating; Wall furnace; Central air conditioning; Wall/window AC units
• Interior features: Tile flooring
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/4.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive. Per door: $23/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $974k (11.4% below list).
• Recommended offer: $974k (11.4% below list) — sets the bar for 1% rule.
• 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.
• Zoned schools: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL).
• Market conditions: Rents rising (+2.8%/yr); 630 active listings in the ZIP; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $9,741/mo this rent would consume 138% of the median local household income ($85k/yr) (locally 1534% 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 $8k of loan paydown is wiped out by about $33k 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 38 days — a 3% lower offer ($1.07M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $974,100 (11.4% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.89% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-174,587
• Equity at exit: $164,014

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-153,738
• Equity at exit: $95,108

Cash invested: $308,000 (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 33304

• Rents YoY: 2.8%
• Active inventory: 630
• Price-to-rent: 37.6×

Monthly cashflow live

• Estimated rent: $9,741 high
• Mortgage (P&I): −$5,769
• Tax est. 1.5%: −$1,375 /mo · $16,500/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,046
• Net cashflow: $94

Break-even live

Break-even rent $9,623

Max offer price $1,100,000

Occupancy floor 94%

Sensitivity live

Price	-10% $854	-5% $474	+0% $94	+5% $-287	+10% $-667
Rent	-10% $-676	-5% $-291	+0% $94	+5% $478	+10% $863
Rate	-1.0pp $647	-0.5pp $373	base $94	+0.5pp $-192	+1.0pp $-481

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	4	$9,740
Total (4 units)			$9,741

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,100,000 Active 38 DOM
2. 2026-06-18
   days on market $1,100,000 Active 35 DOM
3. 2026-06-17
   days on market $1,100,000 Active 34 DOM
4. 2026-06-16
   days on market $1,100,000 Active 33 DOM
5. 2026-06-15
   days on market $1,100,000 Active 32 DOM
6. 2026-06-13
   days on market $1,100,000 Active 30 DOM
7. 2026-06-10
   price $1,100,000 Active 26 DOM
8. 2026-06-09
   days on market $1,125,000 Active 26 DOM
9. 2026-06-08
   days on market $1,125,000 Active 25 DOM
10. 2026-06-07
    days on market $1,125,000 Active 24 DOM
11. 2026-06-04
    days on market $1,125,000 Active 21 DOM
12. 2026-06-03
    days on market $1,125,000 Active 20 DOM
13. 2026-06-02
    days on market $1,125,000 Active 19 DOM
14. 2026-06-01
    days on market $1,125,000 Active 18 DOM
15. 2026-05-31
    days on market $1,125,000 Active 17 DOM
16. 2026-04-09
    listed $1,125,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,892
• − Mortgage interest: −$61,617
• − Property taxes: −$16,500
• − Insurance: −$5,500
• − Repairs & maintenance: −$9,351
• − Management: −$9,351
• − Depreciation: −$32,000
• Taxable loss: −$17,428
• Est. tax savings @ 24.0%: +$4,183
• After-tax cash flow: $5,305/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): 18,332
• Household income: $84,920
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1534.0

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 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 19% Two or more races 17% Black 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3%
• Common ancestry: Hispanic 5% Scotch-Irish 3% Romanian 2%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 20% Other Indo-European 6% French/Haitian/Cajun 5%

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: ▼ -522.22%
• Current HPI: 348.0065
• Rent YoY: ▲ 2.75%
• 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

• 2026-04-09 Listed $1,125,000 MARMLS