270 NE 40th St NE #26 · Oakland Park, FL 33334

$145,000

1 bd · 1.0 ba · 620 sqft · Condo public records · 6 Days on market

Built 1969 $375/mo HOA · 16% 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 +28.2/30.0
• 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
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GOOD INVESTMENT OPPORTUNITY! PROPERTY HAS AN EXCELLENT PRICE. SECOND FLOOR UNIT FEATURING ONE BEDROOM AND ONE BATHROOM. NEEDS SOME WORK BUT WELL REFLECTED ON THE PRICE.

Key facts

• Newer kitchen
• Trazzo floors
• Newer central ac

Tags

• NEWER KITCHEN
• NEWER CENTRAL AC
• TRAZZO FLOORS
• LARGE BEDROOM CLOSET
• OAKLAND PARK LOCATION

Property features AI

Finance

• HOA & community: Community of about 30 units; Association: NORTHEAST HIGHTS; Monthly HOA fee covers sewer and common areas; Community amenities include laundry and a pool; Pets allowed with breed restrictions

Exterior

• Parking: Assigned parking with guest spaces on asphalt; One open parking space (total parking 1)
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available
• Home design: Condominium; Resale unit; Two-story building; unit entry on second floor; Unit model: One bed, one bath; Faces north
• Construction: Block construction with stucco finish; Composition/shingle roof; Slab foundation; Built as part of a 2-story building
• Exterior features: Second-floor entry; City street frontage; No waterfront; Asphalt road surface; public maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Terrazzo flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: No notable built-in interior features listed; Blinds and single-hung metal windows
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.1% 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: 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: Oakland Park Elementary School (math 31% / reading 45%, grade F, #1,587 of 2,144 statewide, top 74%, 576 students, 83% FRL); James S. Rickards Middle School (math 18% / reading 31%, grade F, #522 of 571 statewide, top 93%, 755 students, 75% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL) — zoned schools average 76% FRL vs 51% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.0%/yr); 357 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 38% of the median local income ($75k/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 $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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $65k; list at $145k implies a 122% 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 $145,000

Questions for the listing agent

1. Built in 1969 — 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 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?
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: 1.62% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.58%
• DSCR: 1.60
• GRM: 5.1

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,715
• Equity at exit: $21,620

10-year hold

• IRR: 10.9%
• Equity multiple: 1.81×
• Total profit: $32,701
• Equity at exit: $12,537

Cash invested: $40,600 (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 33334

• Home prices YoY: -34.6%
• Rents YoY: 2.0%
• Active inventory: 357
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,355 high
• Mortgage (P&I): −$760
• Tax from tax record: −$205 /mo · $2,466/yr
• Insurance: −$60
• HOA: −$375
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $459

Break-even live

Break-even rent $1,774

Max offer price $145,000

Occupancy floor 76%

Sensitivity live

Price	-10% $541	-5% $500	+0% $459	+5% $418	+10% $377
Rent	-10% $273	-5% $366	+0% $459	+5% $552	+10% $645
Rate	-1.0pp $532	-0.5pp $496	base $459	+0.5pp $422	+1.0pp $384

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3801 Dixie Hwy Oakland Park, FL	2.0	1.0–2.0	944	$2,894	$3.07	0d	41	0.68mi
3000 NE 6th Ave Wilton Manors, FL	2.0	1.0–2.0	921	$2,765	$3.00	0d	20	0.84mi
119 Royal Park Dr Unit 1E Oakland Park, FL	1.0	1.5	750	$1,650	$2.20	25d	1	1.35mi
513 NE 21st Ct Wilton Manors, FL	2.0	1.0–2.5	1141	$3,057	$2.68	0d	14	1.45mi
803 NE 21st Dr Wilton Manors, FL	1.0	1.0	650	$2,500	$3.85	25d	1	1.49mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-21
   days on market $145,000 Active 6 DOM
2. 2026-06-18
   days on market $145,000 Active 3 DOM
3. 2026-06-17
   days on market $145,000 Active 2 DOM
4. 2026-06-16
   remarks 251-char remark
5. 2026-06-16
   listed $145,000 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: $2,466 · $205/mo
• Projected year-2 tax: $2,466 · $205/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 3/10 Moderate FEMA zone X (shaded) · 12% 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: $28,262
• − Mortgage interest: −$8,122
• − Property taxes: −$2,466
• − Insurance: −$725
• − Repairs & maintenance: −$2,261
• − Management: −$2,261
• − HOA: −$4,500
• − Depreciation: −$4,218
• Taxable income: $3,709
• Est. tax owed @ 24.0%: −$890
• After-tax cash flow: $4,622/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

+480.0% since first listed

12 events — show timeline

• 2026-06-15 Listed $145,000 Beaches MLS
• 2026-04-18 Price Changed $1,550 RMLSFL
• 2026-04-09 Listed for Rent $1,650 RMLSFL
• 2026-04-09 Rental Removed $1,650 GFLMLS
• 2026-03-07 Listed for Rent $1,650 GFLMLS
• 2024-06-21 Rental Removed $1,600 GFLMLS
• 2024-05-14 Listed for Rent $1,600 GFLMLS
• 2017-06-05 Sold (MLS) $65,397 MARMLS
• 2017-06-01 Sold (Public Records) $65,400 Public Records
• 2017-05-05 Pending — MARMLS
• 2017-04-19 Listed $69,900 MARMLS
• 1993-06-09 Sold (Public Records) $25,000 Public Records

Property tax history

+18.1%/yr

Latest (2025): $2,466 · +5.0% YoY. Source: county tax records.