5820 NE 22nd Way #629 · Fort Lauderdale, FL 33308

$188,500

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 69 Days on market

Built 1970 $608/mo HOA · 17% of rent

---

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

Rare corner unit filled with natural light throughout. This 2-bedroom, 1.5-bathroom condo faces a beautiful residential street and is located in an outstanding community in the highly desirable location of Imperial Point. Convenient access to major roads, beaches, restaurants, hospitals, shopping centers, and so much more. All ages welcome. Leasing permitted after 2 years of ownership. Comes with 1 assigned parking space. Basic cable and internet included in HOA fee. Laundry facility located on 1st floor. Enjoy a beautiful pool and clubhouse, offering plenty of space to relax and enjoy.

Key facts

• Clubhouse
• Natural light
• Corner unit

Tags

• CORNER UNIT
• NATURAL LIGHT
• ASSIGNED PARKING SPACE
• LAUNDRY FACILITY
• BEAUTIFUL POOL
• CLUBHOUSE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Association present; Quarterly HOA fee; HOA covers internet, trash, water, and common areas; Community amenities: clubhouse, pool, laundry, storage, community room, internet included

Exterior

• Parking: Assigned parking; Guest parking; One parking space total
• Security: Internet included (association amenity)
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Condominium; One living level; Faces west; Resale property
• Construction: Concrete block (CBS) construction; Other roof type; Two-story building total; Built area approx. 875 (public records)
• Exterior features: Not waterfront; No waterfront features listed; Pool (community amenity); Clubhouse and community room; Storage (association amenity)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior built-ins or special features listed
• Laundry & utility: Community laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $188k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $188k).
• Recommended offer: $177k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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.
• Market conditions: Rents rising (+3.6%/yr); 746 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,664/mo this rent would consume 47% of the median local household income ($94k/yr) (locally 912% 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 $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 $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $188k implies a 1022% 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 $177,190 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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?
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: 1.94% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.24%
• DSCR: 2.12
• GRM: 4.3

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: 19.7%
• Equity multiple: 1.81×
• Total profit: $42,861
• Equity at exit: $28,106

10-year hold

• IRR: 28.6%
• Equity multiple: 3.64×
• Total profit: $139,523
• Equity at exit: $16,298

Cash invested: $52,780 (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: 746
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $3,664 high
• Mortgage (P&I): −$989
• Tax from tax record: −$109 /mo · $1,309/yr
• Insurance: −$79
• HOA: −$608
• Vacancy / Maint / Mgmt: −$769
• Net cashflow: $1,110

Break-even live

Break-even rent $2,258

Max offer price $188,500

Occupancy floor 65%

Sensitivity live

Price	-10% $1,217	-5% $1,164	+0% $1,110	+5% $1,057	+10% $1,004
Rent	-10% $821	-5% $966	+0% $1,110	+5% $1,255	+10% $1,400
Rate	-1.0pp $1,205	-0.5pp $1,158	base $1,110	+0.5pp $1,061	+1.0pp $1,012

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: $47,125
• Closing costs: $5,655
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	25d	1	0.27mi
2169 Imperial Point Dr Fort Lauderdale, FL	2.0	2.0	1300	$4,200	$3.23	25d	1	0.30mi
2400 NE 65th St Fort Lauderdale, FL	1.0–3.0	1.0–2.0	1103	$2,814	$2.55	0d	15	0.67mi
6299 Bay Club Dr #4 Fort Lauderdale, FL	2.0	2.0	1200	$4,900	$4.08	25d	1	0.69mi
3111 NE 51st St Unit 301 Fort Lauderdale, FL	2.0	2.0	1300	$3,800	$2.92	25d	1	0.69mi
1631 S Federal Hwy Pompano Beach, FL	1.0–3.0	1.0–2.0	1092	$2,774	$2.54	0d	16	0.80mi
4800 Bayview Dr #303 Fort Lauderdale, FL	2.0	2.0	1032	$3,500	$3.39	25d	1	0.80mi
4619 Poinciana St Unit 2A Lauderdale by the Sea, FL	3.0	2.5	1452	$3,900	$2.69	17d	1	0.88mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	23d	1	0.89mi
3100 NE 48th St #908 Fort Lauderdale, FL	2.0	2.0	1181	$3,100	$2.62	20d	1	0.89mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	25d	1	0.90mi
4511 Seagrape Dr Lauderdale by the Sea, FL	2.0	2.0	1218	$3,500	$2.87	25d	1	0.91mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	12d	1	0.92mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	5d	1	0.92mi
4512 Sea Grape Dr Unit 1 Lauderdale-By-The-Sea, FL	1.0	1.0	853	$3,500	$4.10	25d	1	0.93mi
233 Commercial Blvd Unit 1541802P Lauderdale-By-The-Sea, FL	2.0	2.0	1291	$3,876	$3.00	4d	1	0.99mi
2321 SE 15th St Unit 2321 Pompano Beach, FL	3.0	2.0	1313	$6,100	$4.65	25d	1	1.00mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1458	$3,700	$2.54	6d	1	1.03mi
3200 Port Royale Dr N Fort Lauderdale, FL	2.0	2.0	1396	$3,950	$2.83	25d	2	1.04mi
4900 N Ocean Blvd #1003 Lauderdale by the Sea, FL	2.0	2.0	1450	$4,200	$2.90	25d	1	1.05mi
4900 N Ocean Blvd #1209 Lauderdale by the Sea, FL	1.0	2.0	960	$4,100	$4.27	16d	1	1.05mi
4900 N Ocean Blvd #705 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,750	$3.39	25d	1	1.05mi
4900 N Ocean Blvd #1405 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,250	$3.04	25d	1	1.05mi
4900 N Ocean Blvd #1601 Lauderdale by the Sea, FL	1.0	1.5	1000	$4,000	$4.00	25d	1	1.05mi
4540 N Ocean Dr #210 Lauderdale by the Sea, FL	2.0	2.0	1450	$5,500	$3.79	25d	1	1.06mi
5100 N Ocean Blvd #1205 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,900	$2.79	25d	1	1.07mi
5100 N Ocean Blvd #1504 Lauderdale by the Sea, FL	2.0	2.0	1400	$4,000	$2.86	4d	1	1.07mi
5100 N Ocean Blvd #502 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,400	$3.15	25d	1	1.07mi
5100 N Ocean Blvd #804 Lauderdale by the Sea, FL	2.0	2.0	1400	$3,800	$2.71	25d	1	1.07mi
5000 N Ocean Blvd #1405 Lauderdale by the Sea, FL	2.0	2.0	1433	$5,250	$3.66	8d	1	1.07mi
5000 N Ocean Blvd #908 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,940	$2.75	18d	1	1.07mi
5000 N Ocean Blvd #703 Lauderdale by the Sea, FL	2.0	2.0	1433	$5,200	$3.63	25d	1	1.07mi
5000 N Ocean Blvd #908 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,700	$2.58	3d	1	1.07mi
5000 N Ocean Blvd #208 Lauderdale by the Sea, FL	2.0	2.0	1433	$3,400	$2.37	25d	1	1.07mi
5000 N Ocean Blvd #506 Lauderdale by the Sea, FL	1.0	1.5	1080	$3,900	$3.61	25d	1	1.07mi
5200 N Ocean Blvd Unit 203B Lauderdale by the Sea, FL	2.0	2.0	1330	$3,200	$2.41	25d	1	1.08mi
5200 N Ocean Blvd Unit 914A Lauderdale by the Sea, FL	2.0	2.0	1450	$5,000	$3.45	25d	1	1.08mi
5400 N Ocean Blvd Lauderdale by the Sea, FL	2.0–3.0	2.5	1631	$3,800	$2.33	5d	2	1.08mi
5200 N Ocean Blvd #506 Fort Lauderdale, FL	2.0	2.0	1330	$3,300	$2.48	15d	1	1.09mi
3333 Port Royale Dr S Fort Lauderdale, FL	3.0	1.0–2.0	857	$3,411	$3.98	0d	43	1.09mi

HOA detail condo

• Monthly dues: $608 · $7,296/yr
• Likely covers: internetcablepoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $188,500 Active 69 DOM
2. 2026-06-18
   days on market $188,500 Active 66 DOM
3. 2026-06-17
   days on market $188,500 Active 65 DOM
4. 2026-06-16
   days on market $188,500 Active 64 DOM
5. 2026-06-15
   days on market $188,500 Active 63 DOM
6. 2026-06-13
   days on market $188,500 Active 61 DOM
7. 2026-06-09
   days on market $188,500 Active 57 DOM
8. 2026-06-08
   days on market $188,500 Active 56 DOM
9. 2026-06-07
   days on market $188,500 Active 55 DOM
10. 2026-06-04
    days on market $188,500 Active 52 DOM
11. 2026-06-03
    days on market $188,500 Active 51 DOM
12. 2026-06-02
    days on market $188,500 Active 50 DOM
13. 2026-06-01
    days on market $188,500 Active 49 DOM
14. 2026-05-31
    days on market $188,500 Active 48 DOM
15. 2026-05-14
    price $188,500
16. 2026-04-10
    listed $200,000 Active
17. 1977-05-01
    soldstatus $16,800
18. 1971-06-01
    soldstatus $19,800

ⓘ 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: $1,309 · $109/mo
• Projected year-2 tax: $1,565 · $130/mo
• Expected delta: +$256/yr (+$21/mo · 19.6%)

ⓘ 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) · 13% 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: $43,966
• − Mortgage interest: −$10,559
• − Property taxes: −$1,309
• − Insurance: −$942
• − Repairs & maintenance: −$3,517
• − Management: −$3,517
• − HOA: −$7,296
• − Depreciation: −$5,484
• Taxable income: $11,342
• Est. tax owed @ 24.0%: −$2,722
• After-tax cash flow: $10,602/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

+852.0% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $188,500 Beaches MLS
• 2026-04-10 Listed $200,000 Beaches MLS
• 1977-05-01 Sold (Public Records) $16,800 Public Records
• 1971-06-01 Sold (Public Records) $19,800 Public Records

Property tax history

+9.3%/yr

Latest (2025): $1,309 · +11.5% YoY. Source: county tax records.