1531 SE 15th #6 · Fort Lauderdale, FL 33316

$309,000

2 bd · 3.0 ba · 1,960 sqft · Condo public records · 99 Days on market

Built 1974 $1000/mo HOA · 22% of rent

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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 +20.2/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +6.4/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing 2 story corner unit condo. Open floor plan, renovated kitchen and baths, recessed lightning, W/ D in the unit. Close to beaches, restaurants, shops and airport. UNIT HAS A TENANT WITH LEASE UNTIL 01/31/2022.NO BOAT SLIP & NO WATER VIEW.

Key facts

• Kayak storage
• Private patio
• Updated kitchen

Tags

• OPEN LIVING AND DINING SPACE
• UPDATED KITCHEN
• PRIVATE PATIO
• ASSIGNED COVERED PARKING
• KAYAK STORAGE
• HARBORDALE NEIGHBORHOOD

Property features AI

Finance

• Other: Pets allowed (cats OK)
• Financial info: Land lease: No
• HOA & community: Has association with monthly HOA fee; Monthly HOA fee includes maintenance of structure, sewer, trash, water, HVAC maintenance, and reserve funds

Exterior

• Parking: Attached carport; Has carport (1 covered carport space); Guest parking available; Approximately 4 open parking spaces
• Utilities: Cable available
• Home design: Condominium; Single-story building (one story total); Second-floor entry; Faces north; Resale condition
• Construction: Block construction
• Exterior features: Waterfront property; Waterfront features: Other

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Wood
• Bathrooms: Two full bathrooms and one half bathroom (three total); One bathroom on the main level
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Split bedroom layout; Blinds on windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $309k.

Deal economics

• At list price, monthly cash flow is $-34 ($-402/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (1.9% below list).
• Meets the 1% rule at list price ($5k rent vs $309k).
• Recommended offer: $281k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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); 400 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $15k of equity ($2k loan paydown + $13k appreciation (4.2% local appreciation)).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 4.5% rent growth), your $87k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask is 12260% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% of rent.
• 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 $281,190 (9.0% 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 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.47% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 5.7

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: 11.6%
• Equity multiple: 1.72×
• Total profit: $62,389
• Equity at exit: $159,340

10-year hold

• IRR: 14.4%
• Equity multiple: 3.48×
• Total profit: $214,986
• Equity at exit: $262,768

Cash invested: $86,520 (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: 400
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $4,540 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$445 /mo · $5,337/yr
• Insurance: −$129
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,000
• Vacancy / Maint / Mgmt: −$953
• Net cashflow: $-34

Break-even live

Break-even rent $4,583

Max offer price $303,078

Occupancy floor 96%

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1490 SE 15th St #104 Fort Lauderdale, FL	2.0	2.0	1459	$4,250	$2.91	18d	1	0.12mi
1617 SE 15th St #605 Fort Lauderdale, FL	2.0	2.0	1240	$2,400	$1.94	24d	1	0.13mi
1532 SE 12th St #204 Fort Lauderdale, FL	3.0	3.5	2067	$8,200	$3.97	24d	1	0.25mi
1819 SE 17th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1547	$4,100	$2.65	20d	3	0.33mi
1819 SE 17th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1547	$4,100	$2.65	15d	2	0.33mi
1819 SE 17th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1547	$4,100	$2.65	5d	3	0.33mi
1819 SE 17th St Fort Lauderdale, FL	1.0–2.0	1.5–2.0	1547	$4,100	$2.65	14d	3	0.33mi
16 Port Side Dr Unit 16C Fort Lauderdale, FL	2.0	2.5	2226	$8,500	$3.82	24d	1	0.36mi
830 SE 14th St Unit 2 Fort Lauderdale, FL	1.0	1.0	1902	$1,925	$1.01	24d	1	0.42mi
901 SE 17th St Unit 901 Fort Lauderdale, FL	1.0	1.5	1384	$3,400	$2.46	22d	1	0.46mi
820 SE 12th Ct Unit 1 Fort Lauderdale, FL	2.0	1.0	2094	$2,500	$1.19	24d	1	0.47mi
824 SE 12th Ct Unit 840 Fort Lauderdale, FL	3.0	2.5	1852	$5,000	$2.70	21d	1	0.48mi
824 SE 12th Ct Unit 852 Fort Lauderdale, FL	2.0	1.5	2000	$5,000	$2.50	21d	1	0.48mi
824 SE 12th Ct Unit 854 Fort Lauderdale, FL	3.0	2.5	2000	$6,500	$3.25	21d	1	0.48mi
817 SE 12th Ct #1 Fort Lauderdale, FL	2.0	2.5	1328	$2,500	$1.88	24d	1	0.50mi
820 SE 12th St #1 Fort Lauderdale, FL	2.0	1.0	2094	$2,300	$1.10	5d	1	0.51mi
820 SE 12th St #1 Fort Lauderdale, FL	2.0	1.0	2094	$2,500	$1.19	24d	1	0.51mi
713 SE 16th St #2 Fort Lauderdale, FL	3.0	3.5	1942	$4,000	$2.06	24d	1	0.54mi
1812 Miami Rd Unit 1369665P Fort Lauderdale, FL	3.0	3.0	2454	$10,040	$4.09	22d	1	0.57mi
410 SE 16th Ct Fort Lauderdale, FL	3.0	1.0–2.0	1175	$3,245	$2.76	3d	1	0.71mi
407 SE 13th St Fort Lauderdale, FL	3.0	3.5	2048	$4,000	$1.95	24d	1	0.73mi
400 SE 14th St Unit A Fort Lauderdale, FL	3.0	2.0	1826	$2,580	$1.41	14d	1	0.73mi
2016 Miami Rd Unit B Fort Lauderdale, FL	1.0	1.0	1913	$1,700	$0.89	21d	1	0.73mi
2020 Miami Rd Unit B Fort Lauderdale, FL	1.0	1.0	1913	$1,700	$0.89	2d	1	0.73mi
2020 Miami Rd Unit B Fort Lauderdale, FL	1.0	1.0	1913	$1,700	$0.89	21d	1	0.73mi
2100 Miami Rd Unit 302 Fort Lauderdale, FL	3.0	3.0	1724	$4,980	$2.89	5d	1	0.76mi
2100 Miami Rd Unit 401 Fort Lauderdale, FL	3.0	3.0	1707	$4,980	$2.92	18d	1	0.76mi
2100 Miami Rd Unit 401 Fort Lauderdale, FL	3.0	3.0	1707	$5,100	$2.99	5d	1	0.76mi
2100 Miami Rd Unit 204 Fort Lauderdale, FL	3.0	3.0	1780	$4,895	$2.75	24d	1	0.76mi
2100 Miami Rd Unit 204 Fort Lauderdale, FL	3.0	3.0	1780	$4,950	$2.78	18d	1	0.76mi
808 SE 6th Ct #1 Fort Lauderdale, FL	1.0	1.0	2182	$1,500	$0.69	24d	1	0.83mi
804 SE 6th Ct Fort Lauderdale, FL	3.0	2.0	1300	$4,400	$3.38	24d	1	0.84mi
2200 SE 19th St Unit 2200 Fort Lauderdale, FL	3.0	2.0	1710	$5,400	$3.16	22d	1	0.85mi
2201 Anchor Dr Fort Lauderdale, FL	3.0	2.5	1966	$9,600	$4.88	24d	1	0.91mi
1936 Harbour Inlet Dr Fort Lauderdale, FL	3.0	3.0	1933	$8,000	$4.14	24d	1	0.92mi
1799 Marietta Dr Fort Lauderdale, FL	2.0	2.0	1248	$4,900	$3.93	24d	1	0.94mi
500 SE 7th St Fort Lauderdale, FL	3.0	4.0	1994	$4,500	$2.26	17d	1	0.94mi
500 SE 7th St #105 Fort Lauderdale, FL	3.0	3.5	1994	$4,500	$2.26	24d	1	0.94mi
500 SE 7th St Fort Lauderdale, FL	3.0	3.0	1994	$4,500	$2.26	24d	1	0.94mi
1958 Harbour Inlet Dr Fort Lauderdale, FL	3.0	2.0	1990	$5,500	$2.76	24d	1	0.95mi

HOA detail condo

• Monthly dues: $1,000 · $12,000/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $309,000 Active 99 DOM
2. 2026-06-17
   days on market $309,000 Active 98 DOM
3. 2026-06-16
   days on market $309,000 Active 97 DOM
4. 2026-06-15
   days on market $309,000 Active 96 DOM
5. 2026-06-13
   days on market $309,000 Active 94 DOM
6. 2026-06-09
   days on market $309,000 Active 90 DOM
7. 2026-06-07
   days on market $309,000 Active 88 DOM
8. 2026-06-04
   days on market $309,000 Active 85 DOM
9. 2026-06-03
   days on market $309,000 Active 84 DOM
10. 2026-06-02
    days on market $309,000 Active 83 DOM
11. 2026-06-01
    days on market $309,000 Active 82 DOM
12. 2026-05-31
    days on market $309,000 Active 81 DOM
13. 2026-04-29
    historical $2,500
14. 2026-04-29
    listed $2,500
15. 2025-12-19
    listed $309,000 Active
16. 2025-03-12
    historical $2,300
17. 2025-03-04
    soldstatus $302,800
18. 2025-02-08
    listed $2,300
19. 2025-02-08
    historical $2,500
20. 2025-01-23
    listed $2,500
21. 2021-07-08
    soldstatus $275,000
22. 2021-07-06
    soldstatus $275,000 Closed 250-char remark

    Show marketing remark (250 chars)

    Amazing 2 story corner unit condo. Open floor plan, renovated kitchen and baths, recessed lightning, W/ D in the unit. Close to beaches, restaurants, shops and airport. UNIT HAS A TENANT WITH LEASE UNTIL 01/31/2022.NO BOAT SLIP & NO WATER VIEW.

23. 2021-06-07
    status Pending 250-char remark

    Show marketing remark (250 chars)

    Amazing 2 story corner unit condo. Open floor plan, renovated kitchen and baths, recessed lightning, W/ D in the unit. Close to beaches, restaurants, shops and airport. UNIT HAS A TENANT WITH LEASE UNTIL 01/31/2022.NO BOAT SLIP & NO WATER VIEW.

24. 2021-06-01
    historical Active Under Contract 250-char remark

    Show marketing remark (250 chars)

    Amazing 2 story corner unit condo. Open floor plan, renovated kitchen and baths, recessed lightning, W/ D in the unit. Close to beaches, restaurants, shops and airport. UNIT HAS A TENANT WITH LEASE UNTIL 01/31/2022.NO BOAT SLIP & NO WATER VIEW.

25. 2021-05-17
    listed $275,000 Active 250-char remark

    Show marketing remark (250 chars)

    Amazing 2 story corner unit condo. Open floor plan, renovated kitchen and baths, recessed lightning, W/ D in the unit. Close to beaches, restaurants, shops and airport. UNIT HAS A TENANT WITH LEASE UNTIL 01/31/2022.NO BOAT SLIP & NO WATER VIEW.

26. 2018-03-30
    historical
27. 2017-10-03
    listed $245,000 Active
28. 2017-01-17
    historical
29. 2016-10-10
    listed $240,000 Active
30. 2015-01-14
    soldstatus $169,000
31. 2014-03-21
    soldstatus $166,500
32. 2010-02-26
    soldstatus $108,000
33. 2010-02-23
    soldstatus $110,000
34. 2006-03-02
    soldstatus $244,000
35. 2005-10-11
    listed $249,900
36. 1994-03-23
    soldstatus $67,000
37. 1984-04-01
    soldstatus $65,000

ⓘ 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: $5,337 · $445/mo
• Projected year-2 tax: $5,337 · $445/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 8/10 Severe FEMA zone AE · 98% 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: $54,485
• − Mortgage interest: −$17,309
• − Property taxes: −$5,337
• − Insurance: −$6,664
• − Repairs & maintenance: −$4,359
• − Management: −$4,359
• − HOA: −$12,000
• − Depreciation: −$8,989
• Taxable loss: −$4,531
• Est. tax savings @ 24.0%: +$1,087
• After-tax cash flow: $685/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

-96.2% since first listed

25 events — show timeline

• 2026-04-29 Rental Removed $2,500 RMLSFL
• 2026-04-29 Listed for Rent $2,500 RMLSFL
• 2025-12-19 Listed $309,000 Beaches MLS
• 2025-03-12 Rental Removed $2,300 GFLMLS
• 2025-03-04 Sold (Public Records) $302,800 Public Records
• 2025-02-08 Listed for Rent $2,300 GFLMLS
• 2025-02-08 Rental Removed $2,500 GFLMLS
• 2025-01-23 Listed for Rent $2,500 GFLMLS
• 2021-07-08 Sold (Public Records) $275,000 Public Records
• 2021-07-06 Sold (MLS) $275,000 MARMLS
• 2021-06-07 Pending — MARMLS
• 2021-06-01 Contingent — MARMLS
• 2021-05-17 Listed $275,000 MARMLS
• 2018-03-30 Listing Removed — MARMLS
• 2017-10-03 Listed $245,000 MARMLS
• 2017-01-17 Listing Removed — MARMLS
• 2016-10-10 Listed $240,000 MARMLS
• 2015-01-14 Sold (Public Records) $169,000 Public Records
• 2014-03-21 Sold (Public Records) $166,500 Public Records
• 2010-02-26 Sold (MLS) $108,000 MARMLS
• 2010-02-23 Sold (Public Records) $110,000 Public Records
• 2006-03-02 Sold (Public Records) $244,000 Public Records
• 2005-10-11 Listed $249,900 MARMLS
• 1994-03-23 Sold (Public Records) $67,000 Public Records
• 1984-04-01 Sold (Public Records) $65,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $5,337 · +5.2% YoY. Source: county tax records.