5321 NE 24th Ter Unit 512a · Fort Lauderdale, FL 33308

$187,500

1 bd · 2.0 ba · 645 sqft · Condo public records · 1 Days on market

Built 1974 $439/mo HOA · 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover modern comfort in this completely remodeled 1-bedroom, 1.5-bathroom condo featuring elegant wood flooring and a private large screen balcony. All stainless steel appliances including a water filtration system and a tankless water heater. Gorgeous cherry wood cabinetry along with ample granite countertops and unique details. The building offers exceptional amenities including a community pool, hot tub, clubroom, State of the art fitness center, and on-site laundry facilities. Conveniently located just walking distance to the beach, restaurants, nightlife, and shopping plazas. This condo is perfect for both relaxation and entertainment. Community Laundry and extra storage just steps

Key facts

• Remodeled condo
• $439 HOA
• Garage

Tags

• REMODELED CONDO
• PRIVATE LARGE SCREEN BALCONY
• STAINLESS STEEL APPLIANCES
• WATER FILTRATION SYSTEM
• TANKLESS WATER HEATER
• CHERRY WOOD CABINETRY

Property features AI

Finance

• Other: Pets are not allowed
• Financial info: Monthly association fee applies
• HOA & community: Association amenities include pool (heated), spa/hot tub, sauna, fitness center, clubhouse, game room, billiard room, community room, library, picnic area, car wash area, bike storage, storage, manager on site, maintenance, maintained community, recreation facilities, elevator(s), parking, laundry, kitchen facilities, internet included, security, management, and reserve funds; HOA fee paid monthly

Exterior

• Parking: Assigned and guest parking; Open/on-street parking available; Detached parking and under-building parking; Shared driveway; Permit-required parking; One open parking space total
• Security: Building security with security patrol; Closed-circuit cameras; Security lights; Elevator secure; Fire alarm; Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Cable connected
• Home design: Condominium; One level unit; First-floor entry; Faces east; Part of a 5-story building named Cross Fox Condominium
• Construction: Block/CBS construction; Barrel, concrete, flat and slate roof elements; Combination foundation; Building area approximately 850 (public records)
• Exterior features: Private heated in-ground pool with spa; Pool/spa combo with concrete free-form design; Fenced pool area with automatic chlorination and ENERGY STAR qualified pool pump; Picnic area; Maintained community grounds; Common parking and guest parking; City street frontage (east of US-1); No waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Disposal; Water purifier (owned)
• Bedrooms: One main level bedroom
• Flooring: Ceramic tile; Laminate; Parquet; Tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central individual heating; Exhaust fan; Central air conditioning; Ceiling fans; Paddle fans; ENERGY STAR qualified cooling equipment
• Interior features: Built-in features; Kitchen island; Walk-in closet(s); Closet cabinetry; ENERGY STAR qualified windows; Blinds; Plantation shutters; Storm windows; Unfurnished
• Laundry & utility: Washer/dryer facilities in common area and laundry room; Laundry available in hall and multiple locations; Outside laundry access; Tankless water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $188k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Cap rate 11.4% 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: Mcnab Elementary School (math 51% / reading 63%, grade C+, #781 of 2,144 statewide, top 38%, 614 students, 56% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL).
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 42% of the median local income ($94k/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 $6k 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $112k; list at $188k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $187,500

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.77% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.26%
• DSCR: 1.81
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.63% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.44×
• Total profit: $22,997
• Equity at exit: $27,957

10-year hold

• IRR: 20.7%
• Equity multiple: 2.83×
• Total profit: $95,880
• Equity at exit: $16,212

Cash invested: $52,500 (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 33308

• Rents YoY: 3.6%
• Active inventory: 739
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,322 medium
• Mortgage (P&I): −$983
• Tax from tax record: −$325 /mo · $3,899/yr
• Insurance: −$78
• HOA: −$439
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $799

Break-even live

Break-even rent $2,311

Max offer price $187,500

Occupancy floor 71%

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: $46,875
• Closing costs: $5,625
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4564 El Mar Dr #4 Lauderdale by the Sea, FL	1.0	1.0	566	$3,500	$6.18	17d	1	1.07mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	1175	$2,963	$2.52	1d	40	1.42mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$5,000	$6.17	5d	2	1.44mi
4010 Galt Ocean Dr Fort Lauderdale, FL	2.0–3.0	2.0	810	$3,200	$3.95	4d	3	1.44mi

HOA detail condo

• Monthly dues: $439 · $5,268/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $187,500 Active 1 DOM

ⓘ 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: $3,899 · $325/mo
• Projected year-2 tax: $3,899 · $325/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,862
• − Mortgage interest: −$10,503
• − Property taxes: −$3,899
• − Insurance: −$938
• − Repairs & maintenance: −$3,189
• − Management: −$3,189
• − HOA: −$5,268
• − Depreciation: −$5,455
• Taxable income: $7,422
• Est. tax owed @ 24.0%: −$1,781
• After-tax cash flow: $7,806/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): 27,935
• Household income: $93,879
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 912.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 14% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 14% Other Indo-European 5% Russian/Polish/Slavic 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: ▼ -417.95%
• Current HPI: 325.3902
• Rent YoY: ▲ 3.63%
• 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

+336.0% since first listed

12 events — show timeline

• 2026-06-17 Listed $187,500 Beaches MLS
• 2025-01-07 Rental Removed $1,675 GFLMLS
• 2024-09-05 Price Changed $1,675 GFLMLS
• 2024-07-07 Price Changed $1,700 GFLMLS
• 2024-06-28 Price Changed $1,750 GFLMLS
• 2024-06-10 Price Changed $1,775 GFLMLS
• 2024-05-29 Listed for Rent $1,850 GFLMLS
• 2014-09-08 Sold (Public Records) $112,000 Public Records
• 2002-11-13 Sold (Public Records) $70,000 Public Records
• 2000-01-14 Sold (Public Records) $52,000 Public Records
• 1993-02-03 Sold (Public Records) $50,160 Public Records
• 1993-02-03 Sold (Public Records) $43,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $3,899 · +5.0% YoY. Source: county tax records.