280 NE 40th Ct · Oakland Park, FL 33334

$650,000

4 bd · 2.0 ba · 2,520 sqft · MultiFamily public records · 99 Days on market

Built 1968

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Why this score? — see what drove the C 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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.7/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• 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: 2 units. confirmed

Listing remarks

Excellent opportunity to own a well-located duplex in the heart of Oakland Park. This property features two separate units with private entrances, offering strong income potential or a perfect setup for owner-occupancy. Situated on a quiet street just minutes from Wilton Manors, I-95, shopping, dining, and beaches. Ideal for investors seeking steady cash flow or buyers looking to live in one unit and rent the other. Easy to show and full of potential. Property features separate electric and water meters for each unit, allowing tenants to be responsible for all utilities. Please do not disturb the tenants. For additional information, please text the listing agent.

Key facts

• Quiet street
• Two separate units
• Private entrances

Tags

• WELL-LOCATED DUPLEX
• TWO SEPARATE UNITS
• PRIVATE ENTRANCES
• STRONG INCOME POTENTIAL
• QUIET STREET

Property features AI

Finance

• Financial info: Two total units (multifamily); Community contains 22 units
• HOA & community: Association maintains grounds

Exterior

• Utilities: Public water; Public sewer; Cable not available
• Home design: Duplex; Single-story; Resale property
• Construction: Block construction; Composition and shingle roof
• Exterior features: Porch

Interior

• Flooring: Ceramic tile
• Heating & cooling: Electric heating with separate meters; Central air conditioning
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $539/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $592k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Oakland Park — 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 77/100 on livability (#193 in FL, #3,082 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D, amenities F.
• 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.
• Market conditions: Rents rising (+2.0%/yr); 355 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $6,925/mo this rent would consume 110% of the median local household income ($75k/yr) (locally 1755% 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 $4k of loan paydown is wiped out by about $20k 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 99 days — a 9% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $115k; list at $650k implies a 465% gain — meaningful room to come down on a strong offer.

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 $591,500 (9.0% below list)

Questions for the listing agent

1. 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?
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 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.07% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.10%
• DSCR: 1.32
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-43,520
• Equity at exit: $96,917

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $23,132
• Equity at exit: $56,200

Cash invested: $182,000 (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 33334

• Home prices YoY: -34.6%
• Rents YoY: 2.0%
• Active inventory: 355
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $6,925 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$714 /mo · $8,571/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,454
• Net cashflow: $1,077

Break-even live

Break-even rent $5,562

Max offer price $650,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$6,924
Total (2 units)			$6,925

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 NW 41st St Unit 104 Oakland Park, FL	3.0	2.5	2025	$3,500	$1.73	24d	1	0.29mi
333 NW 41st St #331 Oakland Park, FL	3.0	2.5	2000	$3,700	$1.85	24d	1	0.38mi
333 NW 41st St #337 Oakland Park, FL	3.0	2.5	2000	$3,950	$1.98	14d	1	0.38mi
719 NE 36th St Unit 719 Oakland Park, FL	4.0	2.0	1840	$4,800	$2.61	3d	1	0.48mi
1068 NE 35th St Oakland Park, FL	3.0	3.5	1787	$3,900	$2.18	5d	1	0.74mi
3438 NE 13th Ave Oakland Park, FL	3.0	2.5	1888	$3,500	$1.85	14d	1	0.98mi
3705 NE 16th Ave Oakland Park, FL	3.0	2.0	1940	$4,900	$2.53	24d	1	1.05mi
609 NE 28th St #1 Wilton Manors, FL	3.0	3.5	1800	$3,300	$1.83	14d	1	1.06mi
1640 NE 43rd St Oakland Park, FL	4.0	3.0	2406	$8,000	$3.33	24d	1	1.18mi
4430 NE 16th Ter Oakland Park, FL	4.0	2.5	2400	$3,600	$1.50	2d	1	1.19mi
3510 NE 17th Ave Oakland Park, FL	3.0	3.0	2067	$7,400	$3.58	24d	1	1.23mi
1570 NE 30th Pl Oakland Park, FL	3.0	2.0	1942	$4,700	$2.42	24d	1	1.26mi
4100 NW 16th Ave Fort Lauderdale, FL	2.0–3.0	1.5	1698	$2,699	$1.59	1d	5	1.29mi
3901 Coral Heights Way Fort Lauderdale, FL	3.0	3.5	2315	$3,750	$1.62	24d	1	1.30mi
2802 NE 15th Ave Wilton Manors, FL	4.0	2.5	1921	$4,000	$2.08	17d	1	1.33mi
3602 NE 18th Ave Oakland Park, FL	3.0	3.0	1779	$5,200	$2.92	20d	1	1.35mi
1721 NE 48th Ct Oakland Park, FL	4.0	2.0	2164	$4,100	$1.89	24d	1	1.38mi
1412 NE 53rd Ct Fort Lauderdale, FL	3.0	2.0	2267	$6,910	$3.05	1d	1	1.38mi
1740 NE 49th St Oakland Park, FL	4.0	3.0	1832	$5,800	$3.17	24d	1	1.41mi
1465 NE 53rd St Fort Lauderdale, FL	4.0	2.0	1893	$12,000	$6.34	24d	1	1.43mi
3450 NW 17th Ter Oakland Park, FL	4.0	2.5	1942	$3,250	$1.67	21d	1	1.45mi
4710 NE 18th Ter Fort Lauderdale, FL	4.0	3.0	2173	$7,000	$3.22	24d	1	1.46mi
3458 NW 17th Ter Unit 3458 Oakland Park, FL	4.0	2.5	1942	$3,250	$1.67	18d	1	1.46mi
1421 NE 54th St Fort Lauderdale, FL	5.0	3.0	2753	$6,900	$2.51	24d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $650,000 Active 99 DOM
2. 2026-06-17
   days on market $650,000 Active 98 DOM
3. 2026-06-16
   days on market $650,000 Active 97 DOM
4. 2026-06-15
   days on market $650,000 Active 96 DOM
5. 2026-06-13
   days on market $650,000 Active 94 DOM
6. 2026-06-09
   days on market $650,000 Active 90 DOM
7. 2026-06-07
   days on market $650,000 Active 88 DOM
8. 2026-06-04
   days on market $650,000 Active 85 DOM
9. 2026-06-03
   days on market $650,000 Active 84 DOM
10. 2026-06-02
    days on market $650,000 Active 83 DOM
11. 2026-06-01
    days on market $650,000 Active 82 DOM
12. 2026-05-31
    days on market $650,000 Active 81 DOM
13. 2026-02-05
    listed $650,000 Active
14. 2023-01-06
    historical
15. 2022-12-08
    status Active
16. 2022-06-21
    listed $482,000 Active
17. 2013-08-23
    soldstatus $115,000
18. 1977-04-01
    soldstatus $37,500

ⓘ 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: $8,571 · $714/mo
• Projected year-2 tax: $8,571 · $714/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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,100
• − Mortgage interest: −$36,410
• − Property taxes: −$8,571
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,648
• − Management: −$6,648
• − Depreciation: −$18,909
• Taxable income: $2,664
• Est. tax owed @ 24.0%: −$639
• After-tax cash flow: $12,285/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 — Oakland Park

• Score: 77/100
• State rank: #193
• US rank: #3082

Category grades

Amenities F Commute A+ Cost of living B Crime B+ Employment C Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland Park, FL
• County: Broward County · 1,963,430 people
• City population: 68,410
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,935
• Household income: $75,361
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1755.0

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 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 32% Two or more races 25% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 5% Lithuanian 3% Romanian 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 59% English-only · Spanish 28% Other Indo-European 5% 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: ▼ -208.58%
• Current HPI: 394.9526
• Rent YoY: ▲ 2.01%
• 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

+1633.3% since first listed

6 events — show timeline

• 2026-02-05 Listed $650,000 Beaches MLS
• 2023-01-06 Listing Removed — MARMLS
• 2022-12-08 Relisted — MARMLS
• 2022-06-21 Listed $482,000 MARMLS
• 2013-08-23 Sold (Public Records) $115,000 Public Records
• 1977-04-01 Sold (Public Records) $37,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $8,571 · +7.5% YoY. Source: county tax records.