640 SW 16th Ave · Fort Lauderdale, FL 33312

$1,450,000

16 bd · 8.0 ba · 4,855 sqft · MultiFamily · 147 Days on market

Built 1976

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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).

• Cash flow +10.5/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Rent growth +2.8/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Property is 4,868 Sq. Ft. and is on 7,000 Sq. Ft. lot. Building is composed of (2) 4 bedrooms & 2 bathrooms and (2) 3 bedrooms and 2 bathrooms. Property well maintained and individually metered. Laundry room on premises, free usage for tenants. New roo f under warranty, security cameras, central A/C in all units and hurricane shutters.

Key facts

• Two story fourplex
• Individually metered
• Freshly painted

Tags

• TWO STORY FOURPLEX
• MODERN INTERIORS
• INDIVIDUALLY METERED
• CENTRAL AIR
• FRESHLY PAINTED
• IMPACT WINDOWS

Property features AI

Finance

• Other:
• Financial info: Actual rents reported: $3,010; $2,900; $2,700; $2,700
• HOA & community:

Exterior

• Parking: Total of 5 parking spaces (open parking)
• Security:
• Utilities: Cable available; Public water; Public sewer
• Home design: 2-story building; Zoned RM-15
• Construction: Block construction; Shingle roof; Resale property (year built details: resale)
• Exterior features: Less than quarter-acre lot; Open parking

Interior

• Kitchen:
• Bedrooms: Four-bedroom unit (1 unit); Four-bedroom unit (1 unit); Three-bedroom unit (1 unit); Three-bedroom unit (1 unit)
• Flooring: Tile
• Bathrooms: Each unit has 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2×4bd/2.0ba + 2×3bd/2.0ba units multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $-885 ($-11k/yr) — negative. Per door: $-221/mo.
• To cash-flow at today's rent, offer at most $1.32M (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.18M (18.9% below list).
• Recommended offer: $1.18M (18.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Market conditions: Rents rising (+1.3%/yr); 412 active listings in the ZIP; solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $11,757/mo this rent would consume 186% of the median local household income ($76k/yr) (locally 1903% 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 $10k of loan paydown is wiped out by about $44k 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 147 days — a 12% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $440k; list at $1.45M implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (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 $1,175,700 (18.9% 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 147 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
11. 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.
12. 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.
13. 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: 0.81% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.17%
• DSCR: 0.90
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.3% rent growth · sell at horizon

5-year hold

• IRR: -22.6%
• Equity multiple: 0.23×
• Total profit: $-310,811
• Equity at exit: $216,200

10-year hold

• IRR: -21.8%
• Equity multiple: -0.04×
• Total profit: $-420,522
• Equity at exit: $125,369

Cash invested: $406,000 (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 33312

• Rents YoY: 1.3%
• Active inventory: 412
• Price-to-rent: 38.4×

Monthly cashflow live

• Estimated rent: $11,757 high
• Mortgage (P&I): −$7,604
• Tax est. 1.5%: −$1,812 /mo · $21,750/yr
• Insurance: −$604
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,469
• Net cashflow: $-885

Break-even live

Break-even rent $12,877

Max offer price $1,321,992

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$6,286
▸ 2× units	3	2	$5,470
Total (4 units)			$11,757

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,450,000 Active 147 DOM
2. 2026-06-17
   days on market $1,450,000 Active 146 DOM
3. 2026-06-16
   days on market $1,450,000 Active 145 DOM
4. 2026-06-15
   days on market $1,450,000 Active 144 DOM
5. 2026-06-13
   days on market $1,450,000 Active 142 DOM
6. 2026-06-09
   days on market $1,450,000 Active 138 DOM
7. 2026-06-07
   days on market $1,450,000 Active 136 DOM
8. 2026-06-04
   days on market $1,450,000 Active 133 DOM
9. 2026-06-03
   days on market $1,450,000 Active 132 DOM
10. 2026-06-02
    days on market $1,450,000 Active 131 DOM
11. 2026-06-01
    days on market $1,450,000 Active 130 DOM
12. 2026-05-31
    days on market $1,450,000 Active 129 DOM
13. 2026-02-06
    price $1,450,000
14. 2026-01-22
    listed $1,500,000 Active
15. 2025-11-09
    historical
16. 2025-07-02
    price $1,750,000
17. 2025-04-24
    status Active
18. 2025-04-24
    historical Active Under Contract
19. 2025-04-02
    status Pending
20. 2024-12-30
    price $1,900,000
21. 2024-09-13
    listed $2,300,000 Active
22. 2014-08-08
    soldstatus $440,000 Sold 343-char remark

    Show marketing remark (343 chars)

    Property is 4,868 Sq. Ft. and is on 7,000 Sq. Ft. lot. Building is composed of (2) 4 bedrooms & 2 bathrooms and (2) 3 bedrooms and 2 bathrooms. Property well maintained and individually metered. Laundry room on premises, free usage for tenants. New roo f under warranty, security cameras, central A/C in all units and hurricane shutters.

23. 2013-11-27
    listed $440,000 Active 343-char remark

    Show marketing remark (343 chars)

    Property is 4,868 Sq. Ft. and is on 7,000 Sq. Ft. lot. Building is composed of (2) 4 bedrooms & 2 bathrooms and (2) 3 bedrooms and 2 bathrooms. Property well maintained and individually metered. Laundry room on premises, free usage for tenants. New roo f under warranty, security cameras, central A/C in all units and hurricane shutters.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AH · 50% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $141,084
• − Mortgage interest: −$81,223
• − Property taxes: −$21,750
• − Insurance: −$9,074
• − Repairs & maintenance: −$11,287
• − Management: −$11,287
• − Depreciation: −$42,182
• Taxable loss: −$35,718
• Est. tax savings @ 24.0%: +$8,572
• After-tax cash flow: $-2,043/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): 52,798
• Household income: $75,952
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1903.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 34% Hispanic / Latino 32% Black 29% Two or more races 20% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 6% Salvadoran 1%
• Common ancestry: Hispanic 6% Romanian 3% Italian 1%
• Foreign-born: 33% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 29% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -323.99%
• Current HPI: 382.6298
• Rent YoY: ▲ 1.30%
• 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

+229.5% since first listed

11 events — show timeline

• 2026-02-06 Price Changed $1,450,000 MARMLS
• 2026-01-22 Listed $1,500,000 MARMLS
• 2025-11-09 Listing Removed — MARMLS
• 2025-07-02 Price Changed $1,750,000 MARMLS
• 2025-04-24 Relisted — MARMLS
• 2025-04-24 Contingent — MARMLS
• 2025-04-02 Pending — MARMLS
• 2024-12-30 Price Changed $1,900,000 MARMLS
• 2024-09-13 Listed $2,300,000 MARMLS
• 2014-08-08 Sold (MLS) $440,000 MARMLS
• 2013-11-27 Listed $440,000 MARMLS