604 NE 2nd St #122 · Dania Beach, FL 33004

$120,000

1 bd · 2.0 ba · 850 sqft · Condo public records · 18 Days on market

Built 1969 $454/mo HOA · 22% 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 +28.4/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the laid-back South Florida lifestyle in this first-floor condo located in a the desirable 55+ community of The Danians in the heart of Dania Beach! Perfectly positioned between the beach, local restaurants, shopping, Dania Beach Casino and everyday conveniences, this home offers incredible potential. Enjoy a peaceful lake view from the screened-in patio. Inside, you'll find a large living area that has a pass through window from the kitchen, perfect for entertaining. There are two oversized walk-in closets in the primary bedroom. This condo is ready for renovations, giving you the chance to design and update the space exactly to your style and taste. A great opportunity to create

Key facts

• Large living area
• Lake view
• Pass through window

Tags

• FIRST FLOOR CONDO
• LAKE VIEW
• SCREENED IN PATIO
• LARGE LIVING AREA
• PASS THROUGH WINDOW
• OVERSIZED WALK IN CLOSETS

Property features AI

Finance

• HOA & community: Community of 299 units; Association: Miami Management; HOA fee $454 monthly; HOA covers insurance, sewer, trash, water, common areas, reserve funds, roof repairs; Amenities: billiard room, clubhouse, laundry, pool, shuffleboard court; Senior community

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (total 1)
• Utilities: Public water; Public sewer; Water available
• Home design: Condominium; One level; Faces east; Resale
• Construction: Built with CBS construction materials; Flat roof; 4-story building
• Exterior features: Screened patio; Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Refrigerator; Electric cooktop
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s)
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-39 ($-463/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (5.7% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (5.7% below list) — sets the bar for cash-flow.
• Cap rate 10.2% vs local median 3.8% in Dania Beach — 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 (#180 in FL, #2,806 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A, housing A; Watch: employment 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.
• Zoned schools: Collins Elementary School (math 22% / reading 32%, grade F, #1,969 of 2,144 statewide, top 94%, 307 students, 89% FRL); Olsen Middle School (math 18% / reading 24%, grade F, #555 of 571 statewide, top 97%, 633 students, 73% FRL); South Broward High School (math 24% / reading 49%, grade F, #351 of 667 statewide, top 54%, 2,397 students, 59% FRL) — zoned schools average 74% FRL vs 51% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.7%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,018/mo this rent would consume 46% of the median local household income ($53k/yr) (locally 1999% 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 $830 of loan paydown is wiped out by about $4k 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 18 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $113,190 (5.7% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.68% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.86%
• DSCR: 1.62
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -25.2%
• Equity multiple: 0.19×
• Total profit: $-27,291
• Equity at exit: $17,892

10-year hold

• IRR: -64.4%
• Equity multiple: -0.42×
• Total profit: $-47,655
• Equity at exit: $10,375

Cash invested: $33,600 (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 33004

• Rents YoY: -1.7%
• Active inventory: 209
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,018 high
• Mortgage (P&I): −$629
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$454
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-39

Break-even live

Break-even rent $2,067

Max offer price $113,190

Occupancy floor 97%

Sensitivity live

Price	-10% $29	-5% $-5	+0% $-39	+5% $-73	+10% $-106
Rent	-10% $-198	-5% $-118	+0% $-39	+5% $41	+10% $121
Rate	-1.0pp $22	-0.5pp $-8	base $-39	+0.5pp $-70	+1.0pp $-101

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 NE 2nd St Dania, FL	2.0	2.0	1020	$2,400	$2.35	6d	2	0.06mi
624 NE 2nd St Dania Beach, FL	1.0–2.0	1.0–2.0	931	$2,107	$2.26	3d	3	0.08mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,650	$1.94	6d	3	0.08mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,625	$1.91	13d	6	0.08mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,600	$1.88	25d	6	0.08mi
500 NE 2nd St Dania, FL	1.0–2.0	1.0–2.0	850	$1,700	$2.00	11d	4	0.08mi
500 NE 2nd St Dania, FL	2.0	2.0	933	$1,925	$2.06	11d	3	0.08mi
505 E Beach Blvd Unit 4-2E Dania, FL	1.0	1.5	900	$1,800	$2.00	25d	1	0.09mi
501 E Dania Beach Blvd Unit 5 M Dania Beach, FL	2.0	2.0	1070	$2,100	$1.96	25d	1	0.10mi
601 E Dania Beach Blvd Dania, FL	3.0	1.0–2.0	942	$2,869	$3.05	0d	33	0.16mi
600 E Dania Beach Blvd Dania, FL	3.0	1.0–2.0	951	$2,808	$2.95	0d	33	0.21mi
13 NE 2nd Ave #201 Dania, FL	2.0	1.0	690	$1,600	$2.32	25d	1	0.49mi
201 NE 2nd Ave Unit 1 Dania Beach, FL	—	1.0	550	$1,550	$2.82	25d	1	0.49mi
201 NE 2nd Ave Unit 1 Dania Beach, FL	—	1.0	550	$1,475	$2.68	3d	1	0.49mi
180 E Dania Beach Blvd Dania, FL	1.0	1.0	613	$2,400	$3.92	19d	3	0.54mi
4 N Federal Hwy Dania, FL	3.0	1.0–2.0	852	$2,614	$3.07	0d	40	0.57mi
29 NE 3rd St Unit A Dania Beach, FL	2.0	1.0	850	$2,200	$2.59	3d	1	0.57mi
29 NE 3rd St Unit A Dania Beach, FL	2.0	1.0	850	$2,200	$2.59	16d	1	0.57mi
34 SE 1st Ave Unit B Dania Beach, FL	1.0	1.0	1050	$2,400	$2.29	25d	1	0.63mi
303 U.S. 1 Dania Beach, FL	1.0	1.0	649	$2,035	$3.14	0d	1	0.65mi
101 SE 2nd St Dania Beach, FL	—	1.0	600	$1,500	$2.50	21d	1	0.68mi
101 SW 1st St Dania Beach, FL	2.0	1.0–2.0	902	$3,268	$3.62	0d	42	0.74mi
213 SW 2nd Ave Unit A Dania Beach, FL	1.0	1.0	700	$2,354	$3.36	8d	1	0.86mi
2 SW 6th Ave Unit C Dania Beach, FL	1.0	1.0	1117	$1,450	$1.30	25d	1	0.91mi
105 SW 5th Ct Unit 2 Dania Beach, FL	1.0	1.0	700	$1,700	$2.43	25d	1	0.93mi
310 SW 2nd Ave Dania, FL	2.0	1.0	800	$2,295	$2.87	25d	1	0.95mi
6 SW 7th Ave Dania Beach, FL	2.0	1.0	1100	$1,750	$1.59	25d	1	0.96mi
41 SW 7th Ave Unit 1 Dania Beach, FL	1.0	1.0	620	$1,500	$2.42	8d	1	0.98mi
208 SW 3rd Pl Dania, FL	2.0	1.0	952	$2,300	$2.42	25d	1	1.01mi
602 SE 2nd Ave Dania, FL	2.0	1.0	1000	$1,950	$1.95	25d	1	1.02mi
229 SW 3rd Pl Dania, FL	2.0	1.0	764	$2,700	$3.53	25d	1	1.06mi
508 SW 2nd Ave Unit Back Dania Beach, FL	1.0	1.0	900	$1,350	$1.50	25d	1	1.11mi
32 SE 8th St Dania, FL	2.0	1.0	1088	$2,700	$2.48	25d	1	1.15mi
367 Phippen Waiters Rd Unit back Dania Beach, FL	2.0	1.0	932	$2,300	$2.47	0d	1	1.18mi
210 SW 7th St Dania, FL	1.0	1.0	600	$1,600	$2.67	6d	1	1.19mi
713 SW 3rd Pl Unit 3 Dania Beach, FL	2.0	1.0	775	$1,595	$2.06	25d	1	1.19mi
704 SW 2nd Ave Dania, FL	1.0	1.0	648	$1,900	$2.93	25d	1	1.20mi
22 NW 14th Ave Dania, FL	2.0	2.0	976	$2,800	$2.87	25d	1	1.22mi
1155 SE 7th Ave Dania Beach, FL	1.0–2.0	1.0–2.0	882	$1,838	$2.08	2d	31	1.25mi
105 NW 14th Way Dania Beach, FL	2.0	1.0	650	$1,795	$2.76	8d	1	1.29mi

HOA detail condo

• Monthly dues: $454 · $5,448/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   pricedays on market $120,000 Active 18 DOM
2. 2026-06-18
   days on market $135,000 Active 15 DOM
3. 2026-06-17
   days on market $135,000 Active 14 DOM
4. 2026-06-16
   days on market $135,000 Active 13 DOM
5. 2026-06-15
   days on market $135,000 Active 12 DOM
6. 2026-06-13
   days on market $135,000 Active 10 DOM
7. 2026-06-09
   days on market $135,000 Active 6 DOM
8. 2026-06-08
   days on market $135,000 Active 5 DOM
9. 2026-06-07
   days on market $135,000 Active 4 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $135,000 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: $878 · $73/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: +$118/yr (+$10/mo · 13.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,220
• − Mortgage interest: −$6,722
• − Property taxes: −$878
• − Insurance: −$5,718
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$5,448
• − Depreciation: −$3,491
• Taxable loss: −$1,913
• Est. tax savings @ 24.0%: +$459
• After-tax cash flow: $-4/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 — Dania Beach

• Score: 77/100
• State rank: #180
• US rank: #2806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dania Beach, FL
• County: Broward County · 1,963,430 people
• City population: 17,094
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 17,094
• Household income: $52,574
• Rent vs Own: 61.3% rent · 38.7% own
• Severe rent burden: 1999.0

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 42% Hispanic / Latino 28% Black 24% Two or more races 19% Asian 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 7% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Hispanic 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 25% Other Indo-European 4% French/Haitian/Cajun 4%

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: ▼ -377.03%
• Current HPI: 335.6607
• Rent YoY: ▼ -1.66%
• 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

+451.0% since first listed

4 events — show timeline

• 2026-06-03 Listed $135,000 Beaches MLS
• 2004-12-16 Sold (Public Records) $105,000 Public Records
• 2003-04-14 Sold (Public Records) $63,000 Public Records
• 1979-02-01 Sold (Public Records) $24,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $878 · +5.1% YoY. Source: county tax records.