924 SE 2nd St #17 · Fort Lauderdale, FL 33301

$250,000

2 bd · 2.0 ba · 890 sqft · Condo public records · 202 Days on market

Built 1969 $1057/mo HOA · 33% of rent

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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).

• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Cash flow +6.4/30.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0

Listing remarks

Pet and investor friendly. Great value on a boutique waterfront condo just steps from fabulous Las Olas Blvd. where you can enjoy dining, shopping, festivals and more. Spacious 2/2 corner unit over looking the pool. Enjoy the convenience of an elevator, assigned parking and gated security. It’s the perfect blend of convenience and tranquility. Own the downtown lifestyle at a great price! Tenant in place until 2/20/27

Key facts

• Gated security
• Gulfstream condo
• Waterfront sanctuary

Tags

• GULFSTREAM CONDO
• WATERFRONT SANCTUARY
• HEATED POOL
• GATED SECURITY
• ASSIGNED PARKING

Property features AI

Finance

• Other: Heated pool
• Financial info: Pets allowed (dogs OK)
• HOA & community: Monthly association fee; Association amenities include pool and elevator(s); Association fee covers common areas and pool(s)

Exterior

• Parking: One parking space
• Security: Fenced complex
• Utilities: Central heating and cooling
• Home design: Attached property; 4-story building; Entry on level 2; Effective year built
• Construction: Block construction
• Exterior features: Courtyard; Canal front with canal access; Has a view; Complex is fenced

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Refrigerator; Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Elevator; Bedroom on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-430 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (30.4% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $174k (30.4% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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 (+3.0%/yr); 474 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); high-income renter base; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 30% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.6% local appreciation)).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 9900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $205k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $173,951 (30.4% 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 202 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — 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: 1.27% ✓
• Cap rate: 4.23%
• Cash-on-cash: -7.38%
• DSCR: 0.67
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.58% appreciation · 3.02% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.36×
• Total profit: $25,091
• Equity at exit: $135,328

10-year hold

• IRR: 8.3%
• Equity multiple: 2.49×
• Total profit: $104,195
• Equity at exit: $228,473

Cash invested: $70,000 (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 33301

• Home prices YoY: 1.6%
• Rents YoY: 3.0%
• Active inventory: 474
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,167 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$461 /mo · $5,527/yr
• Insurance: −$104
• HOA: −$1,057
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $-430

Break-even live

Break-even rent $3,712

Max offer price $173,951

Occupancy floor —

Sensitivity live

Price	-10% $-289	-5% $-360	+0% $-430	+5% $-501	+10% $-572
Rent	-10% $-681	-5% $-556	+0% $-430	+5% $-305	+10% $-180
Rate	-1.0pp $-305	-0.5pp $-367	base $-430	+0.5pp $-495	+1.0pp $-561

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 SE 2nd St Fort Lauderdale, FL	1.0	1.0	517	$1,950	$3.77	19d	4	0.04mi
901 SE 2nd Ct Apt 3 Fort Lauderdale, FL	1.0	1.0	570	$1,850	$3.25	1d	1	0.05mi
111 SE 8th Ave Unit 7 Fort Lauderdale, FL	2.0	2.0	990	$4,500	$4.55	22d	1	0.11mi
111 SE 8th Ave Unit 7 Fort Lauderdale, FL	2.0	2.0	990	$4,500	$4.55	26d	1	0.11mi
215 SE 8th Ave Fort Lauderdale, FL	1.0–3.0	1.5–3.0	1348	$5,478	$4.06	0d	16	0.12mi
790 E Broward Blvd Fort Lauderdale, FL	3.0	1.0–2.0	984	$4,377	$4.45	0d	14	0.14mi
17 NE 9th Ave Unit 2 Fort Lauderdale, FL	1.0	1.0	700	$1,900	$2.71	26d	1	0.15mi
106 S Federal Hwy Fort Lauderdale, FL	3.0	1.0–2.0	1038	$3,797	$3.66	0d	18	0.18mi
100 N Federal Hwy Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1039	$3,500	$3.37	7d	4	0.21mi
715 NE 1st St Unit C Fort Lauderdale, FL	2.0	1.5	936	$2,900	$3.10	20d	1	0.22mi
201 S Federal Hwy Fort Lauderdale, FL	1.0–3.0	1.0–3.0	1262	$5,896	$4.67	1d	16	0.22mi
110 N Federal Hwy Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1028	$3,999	$3.89	17d	4	0.23mi
110 N Federal Hwy Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1028	$3,999	$3.89	18d	7	0.23mi
501 SE 2nd St Fort Lauderdale, FL	2.0	1.0–2.0	955	$3,149	$3.30	1d	9	0.25mi
204 NE 10th Ave Fort Lauderdale, FL	1.0	1.0	869	$1,900	$2.19	26d	1	0.27mi
204 NE 10th Ave Fort Lauderdale, FL	1.0	2.0	786	$2,000	$2.54	6d	1	0.27mi
206 NE 10th Ave Fort Lauderdale, FL	1.0	1.0	720	$1,925	$2.67	20d	1	0.27mi
1315 SE 2nd St Rear W Fort Lauderdale, FL	1.0	1.0	700	$2,200	$3.14	26d	1	0.29mi
1315 SE 2nd St Rear E Fort Lauderdale, FL	1.0	1.0	750	$2,000	$2.67	26d	1	0.29mi
1403 SE 2nd St Fort Lauderdale, FL	1.0	1.0	950	$1,600	$1.68	26d	1	0.30mi
515 E Broward Blvd Fort Lauderdale, FL	1.0	1.0	660	$2,100	$3.18	26d	1	0.30mi
419 SE 2nd St Fort Lauderdale, FL	3.0	1.0–2.0	960	$4,468	$4.65	1d	23	0.31mi
901 NE 3rd St Fort Lauderdale, FL	1.0–2.0	1.0	625	$2,200	$3.52	7d	3	0.32mi
601 SE 5th Ct Fort Lauderdale, FL	1.0–2.0	1.0	565	$2,000	$3.54	26d	2	0.36mi
601 SE 5th Ct #102 Fort Lauderdale, FL	2.0	1.0	600	$2,000	$3.33	7d	1	0.36mi
601 SE 5th Ct #102 Fort Lauderdale, FL	2.0	1.0	600	$2,000	$3.33	1d	1	0.36mi
1300 NE 3rd St Fort Lauderdale, FL	1.0	1.0	600	$1,799	$3.00	5d	2	0.38mi
150 SE 3rd Ave Fort Lauderdale, FL	2.0	1.0–2.0	968	$4,311	$4.45	0d	39	0.39mi
405 NE 2nd St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1111	$3,384	$3.05	1d	20	0.39mi
347 N New River Dr E Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1144	$4,075	$3.56	4d	5	0.41mi
347 N New River Dr E Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1144	$4,075	$3.56	24d	4	0.41mi
530 S Federal Hwy Unit 9 Fort Lauderdale, FL	2.0	1.0	725	$2,300	$3.17	22d	1	0.41mi
225 SE 16th Ave #3 Fort Lauderdale, FL	2.0	1.0	660	$2,150	$3.26	3d	1	0.42mi
225 SE 16th Ave #3 Fort Lauderdale, FL	2.0	1.0	660	$2,200	$3.33	16d	1	0.42mi
225 SE 16th Ave #2 Fort Lauderdale, FL	1.0	1.0	660	$1,850	$2.80	17d	1	0.42mi
151 NE 16th Ave #334 Fort Lauderdale, FL	1.0	1.0	625	$2,000	$3.20	14d	1	0.42mi
510 SE 5th Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1022	$4,300	$4.21	1d	18	0.43mi
1515 E Broward Blvd Fort Lauderdale, FL	1.0–2.0	1.0–2.0	810	$2,700	$3.33	16d	2	0.43mi
1515 E Broward Blvd #124 Fort Lauderdale, FL	2.0	2.0	960	$2,400	$2.50	9d	1	0.43mi
1515 E Broward Blvd Fort Lauderdale, FL	1.0–2.0	1.0–2.0	810	$2,700	$3.33	26d	3	0.43mi

HOA detail condo

• Monthly dues: $1,057 · $12,684/yr
• Likely covers: waterpoolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   historical Active Under Contract
3. 2026-04-15
   price $250,000
4. 2026-04-15
   status Active
5. 2026-02-26
   price $230,000
6. 2026-02-13
   price $279,000
7. 2026-02-03
   historical $2,200
8. 2026-01-15
   price $2,200
9. 2026-01-14
   price $299,000
10. 2026-01-04
    listed $2,500
11. 2025-11-18
    price $330,000
12. 2025-10-06
    listed $350,000 Active
13. 2025-05-18
    historical
14. 2024-12-12
    listed $355,000 Active
15. 2017-04-27
    soldstatus $205,000
16. 2003-06-20
    soldstatus $247,900

ⓘ 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: $5,527 · $461/mo
• Projected year-2 tax: $5,527 · $461/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: $38,009
• − Mortgage interest: −$14,004
• − Property taxes: −$5,527
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,041
• − Management: −$3,041
• − HOA: −$12,684
• − Depreciation: −$7,273
• Taxable loss: −$8,810
• Est. tax savings @ 24.0%: +$2,114
• After-tax cash flow: $-3,052/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): 19,503
• Household income: $124,812
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 1662.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Two or more races 14% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 5%
• Common ancestry: Romanian 3% Scotch-Irish 3% Czech 2%
• Foreign-born: 19% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 3%

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: ▲ 4.58%
• Current HPI: 300.8346
• Rent YoY: ▲ 3.02%
• 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

+0.8% since first listed

16 events — show timeline

• 2026-05-11 Pending — MARMLS
• 2026-05-07 Contingent — MARMLS
• 2026-04-15 Price Changed $250,000 MARMLS
• 2026-04-15 Relisted — MARMLS
• 2026-02-26 Price Changed $230,000 MARMLS
• 2026-02-13 Price Changed $279,000 MARMLS
• 2026-02-03 Rental Removed $2,200 MARMLS
• 2026-01-15 Price Changed $2,200 MARMLS
• 2026-01-14 Price Changed $299,000 MARMLS
• 2026-01-04 Listed for Rent $2,500 MARMLS
• 2025-11-18 Price Changed $330,000 MARMLS
• 2025-10-06 Listed $350,000 MARMLS
• 2025-05-18 Listing Removed — MARMLS
• 2024-12-12 Listed $355,000 MARMLS
• 2017-04-27 Sold (Public Records) $205,000 Public Records
• 2003-06-20 Sold (Public Records) $247,900 Public Records

Property tax history

+6.7%/yr

Latest (2025): $5,527 · +2.2% YoY. Source: county tax records.