1035 SE 15th St Unit 10B · Fort Lauderdale, FL 33316

$189,900

2 bd · 1.0 ba · 800 sqft · Condo public records · 102 Days on market

Built 1958 $734/mo HOA · 34% of rent ↓ 19% since listing

---

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).

• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• 1% rule +6.3/10.0
• Cash flow +5.2/30.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

This fantastic mid century building is located in the heart of the city, easily walkable to numerous shops, restaurants, etc.   The immaculate two-bedroom apartment is filled with abundant natural light and has been well cared for.   It features a large storage closet, CENTRAL AC, AN IDEALLY LOCATED ASSIGNED PARKING SPACE and tile floors.   This complex is quiet and well maintained with a flexible rental policy. No waiting! MINIMUM LEASE PERIOD 90 DAYS. The grounds and pool area offer a lovely, park-like, tranquil respite. Dockage when available is well below market. This is an opportunity to purchase a true 2 bedroom unit at an excellent price!  Furnishings are included

Key facts

• Central ac
• Tile floors
• Large storage closet

Tags

• ASSIGNED PARKING SPACE
• LARGE STORAGE CLOSET
• CENTRAL AC
• TILE FLOORS
• QUIET COMPLEX
• WELL MAINTAINED COMPLEX

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include pool and maintenance; Association fee covers grounds maintenance, sewer, trash, water and common areas; Senior community; Pets allowed (cats OK)

Exterior

• Utilities: Water service included in association; Sewer service included in association; Trash service included in association
• Home design: Stock cooperative; Resale property; 2-story building; First-floor entry; Faces south
• Construction: Other construction materials
• Exterior features: Open porch; Porch; Patio

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Electric range; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-426 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (39.7% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $115k (39.7% below list) — sets the bar for cash-flow.
• Cap rate 3.6% 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: Harbordale Elementary School (math 64% / reading 74%, grade A-, #399 of 2,144 statewide, top 19%, 487 students, 38% 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 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 406 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.2% local appreciation)).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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: HOA is 34% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,572 (39.7% 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 102 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
10. 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.
11. 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.
12. 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: 1.13% ✓
• Cap rate: 3.60%
• Cash-on-cash: -9.62%
• DSCR: 0.57
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.15% appreciation · 4.54% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.21×
• Total profit: $11,395
• Equity at exit: $97,924

10-year hold

• IRR: 7.5%
• Equity multiple: 2.33×
• Total profit: $70,730
• Equity at exit: $161,487

Cash invested: $53,172 (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 33316

• Home prices YoY: 1.3%
• Rents YoY: 4.5%
• Active inventory: 406
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$996
• Tax from tax record: −$308 /mo · $3,692/yr
• Insurance: −$79
• HOA: −$734
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-426

Break-even live

Break-even rent $2,679

Max offer price $114,572

Occupancy floor —

Sensitivity live

Price	-10% $-319	-5% $-373	+0% $-426	+5% $-480	+10% $-534
Rent	-10% $-595	-5% $-511	+0% $-426	+5% $-342	+10% $-257
Rate	-1.0pp $-331	-0.5pp $-378	base $-426	+0.5pp $-476	+1.0pp $-526

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 SE 15th St #2 Fort Lauderdale, FL	1.0	1.0	580	$1,650	$2.84	25d	1	0.01mi
1020 SE 15th St Unit 1 Fort Lauderdale, FL	1.0	1.0	650	$1,750	$2.69	25d	1	0.02mi
1025 SE 15th St Unit 9D Fort Lauderdale, FL	2.0	1.0	800	$1,550	$1.94	25d	1	0.03mi
1025 SE 15th St Unit 9D Fort Lauderdale, FL	2.0	1.0	800	$1,550	$1.94	6d	1	0.03mi
1000 SE 15th St #103 Fort Lauderdale, FL	2.0	1.0	670	$2,000	$2.99	20d	1	0.04mi
1050 SE 15th St #202 Fort Lauderdale, FL	2.0	2.0	830	$2,850	$3.43	4d	1	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	565	$1,738	$3.08	25d	3	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	550	$1,672	$3.04	9d	2	0.05mi
1001 SE 16th St Fort Lauderdale, FL	1.0	1.0	550	$1,672	$3.04	13d	2	0.05mi
1050 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0–2.0	815	$2,850	$3.50	4d	2	0.06mi
1541 Cordova Rd #205 Fort Lauderdale, FL	1.0	1.0	600	$1,750	$2.92	25d	1	0.06mi
1125 SE 14th Pl Unit 21D Fort Lauderdale, FL	2.0	1.0	800	$1,650	$2.06	23d	1	0.10mi
1440 Miami Rd Unit 3 Fort Lauderdale, FL	1.0	1.0	650	$1,650	$2.54	25d	1	0.12mi
1401 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0	912	$2,750	$3.01	25d	1	0.13mi
1424 SE 15th St #11 Fort Lauderdale, FL	1.0	1.0	740	$1,900	$2.57	25d	1	0.14mi
749 SE 15th St Unit 6 Fort Lauderdale, FL	2.0	1.0	675	$2,000	$2.96	4d	1	0.15mi
749 SE 15th St Unit 10 Fort Lauderdale, FL	1.0	1.0	636	$1,700	$2.67	4d	1	0.15mi
749 SE 15th St Unit 10 Fort Lauderdale, FL	1.0	1.0	636	$1,700	$2.67	25d	1	0.15mi
1440 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0	575	$2,800	$4.87	25d	2	0.17mi
1429 Miami Rd Unit 3 Fort Lauderdale, FL	1.0	1.0	600	$1,600	$2.67	25d	1	0.17mi
727 SE 15th St Apt 5 Fort Lauderdale, FL	1.0	1.0	745	$2,185	$2.93	20d	1	0.17mi
820 SE 14th St Unit 1-2 Fort Lauderdale, FL	1.0	1.0	550	$2,200	$4.00	25d	1	0.17mi
717 SE 16th St #2 Fort Lauderdale, FL	1.0	1.0	600	$1,450	$2.42	25d	1	0.21mi
717 SE 16th St #2 Fort Lauderdale, FL	1.0	1.0	650	$1,350	$2.08	11d	1	0.21mi
717 SE 16th St #3 Fort Lauderdale, FL	1.0	1.0	650	$1,350	$2.08	0d	1	0.21mi
711 SE 15th St Unit 5 Fort Lauderdale, FL	2.0	2.0	900	$1,960	$2.18	25d	1	0.22mi
1405 Miami Rd #7 Fort Lauderdale, FL	1.0	1.0	622	$1,800	$2.89	3d	1	0.22mi
709 SE 15th St Unit 1 Fort Lauderdale, FL	1.0	1.0	552	$1,598	$2.89	25d	1	0.23mi
710 SE 16th St Unit A Fort Lauderdale, FL	1.0	1.0	700	$1,775	$2.54	25d	1	0.23mi
1510 SE 15th St Fort Lauderdale, FL	1.0–2.0	1.0–2.0	800	$2,650	$3.31	9d	2	0.26mi
1510 SE 15th St #106 Fort Lauderdale, FL	2.0	2.0	940	$2,650	$2.82	18d	1	0.30mi
1250 Miami Rd #10 Fort Lauderdale, FL	2.0	2.0	920	$2,300	$2.50	6d	1	0.30mi
1250 Miami Rd #11 Fort Lauderdale, FL	2.0	1.0	810	$2,050	$2.53	0d	1	0.30mi
1250 Miami Rd Fort Lauderdale, FL	2.0	1.0	810	$1,999	$2.47	25d	1	0.31mi
1525 SE 15th St #2 Fort Lauderdale, FL	1.0	1.0	565	$1,750	$3.10	25d	1	0.33mi
1531 SE 15th St Fort Lauderdale, FL	2.0	2.0	1008	$2,900	$2.88	25d	1	0.34mi
412 SE 15th St Unit 4 Fort Lauderdale, FL	2.0	1.0	1113	$2,299	$2.07	18d	1	0.39mi
410 SE 16th Ct Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,626	$2.23	0d	1	0.39mi
417 SE 14th Ct Unit 2 Fort Lauderdale, FL	1.0	1.0	550	$1,660	$3.02	25d	1	0.39mi
417 SE 14th Ct Unit 1 Fort Lauderdale, FL	1.0	1.0	550	$1,650	$3.00	3d	1	0.39mi

HOA detail condo

• Monthly dues: $734 · $8,808/yr
• Likely covers: landscapingpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $189,900 Active 102 DOM
2. 2026-06-18
   days on market $189,900 Active 99 DOM
3. 2026-06-17
   days on market $189,900 Active 98 DOM
4. 2026-06-16
   days on market $189,900 Active 97 DOM
5. 2026-06-15
   days on market $189,900 Active 96 DOM
6. 2026-06-13
   days on market $189,900 Active 94 DOM
7. 2026-06-09
   days on market $189,900 Active 90 DOM
8. 2026-06-07
   days on market $189,900 Active 88 DOM
9. 2026-06-04
   days on market $189,900 Active 85 DOM
10. 2026-06-03
    days on market $189,900 Active 84 DOM
11. 2026-06-02
    days on market $189,900 Active 83 DOM
12. 2026-06-01
    days on market $189,900 Active 82 DOM
13. 2026-05-31
    days on market $189,900 Active 81 DOM
14. 2026-02-16
    listed $189,900 Active
15. 2024-08-09
    historical
16. 2024-05-14
    listed $219,000 Active
17. 2024-05-14
    historical
18. 2024-03-18
    price $219,000
19. 2024-03-09
    listed $235,000 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: $3,692 · $308/mo
• Projected year-2 tax: $3,692 · $308/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 4/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $25,674
• − Mortgage interest: −$10,637
• − Property taxes: −$3,692
• − Insurance: −$950
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − HOA: −$8,808
• − Depreciation: −$5,524
• Taxable loss: −$8,045
• Est. tax savings @ 24.0%: +$1,931
• After-tax cash flow: $-3,186/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): 12,437
• Household income: $96,641
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 770.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 8% Black 7% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 22% · Canada, Jamaica, Dominican Republic
• Languages at home: 80% English-only · Spanish 13% Tagalog/Filipino 2% Other Indo-European 1%

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: ▲ 4.15%
• Current HPI: 319.5598
• Rent YoY: ▲ 4.54%
• 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

-19.2% since first listed

6 events — show timeline

• 2026-02-16 Listed $189,900 Beaches MLS
• 2024-08-09 Listing Removed — Beaches MLS
• 2024-05-14 Listing Removed — MARMLS
• 2024-05-14 Listed $219,000 Beaches MLS
• 2024-03-18 Price Changed $219,000 MARMLS
• 2024-03-09 Listed $235,000 MARMLS

Property tax history

+8.2%/yr

Latest (2025): $3,692 · +5.5% YoY. Source: county tax records.