4270 NW 40th St #103 · Lauderdale Lakes, FL 33319

$109,000

1 bd · 2.0 ba · 600 sqft · Condo public records · 214 Days on market

Built 1973 $460/mo HOA · 30% of rent

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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 +11.0/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

ARE YOU READY FOR A DEAL ON A FULLY RENOVATED CONDO?? Come and Get It!! Bring Your Offers! Incredible value, & totally renovated, ground floor, corner unit, 1/1.5 condo! If you are in search of a full time, snowbird, or Canadian paradise, for your winter retreat, the 55+ community of the Garnet Condo is the place to be! Incredible value in a complex which has completed its required inspections & studies. The entry opens to a brand new kitchen, a stunning half bath, and spacious living area. Everything has been redone! Tile floors & fresh paint throughout. ALL BRAND NEW cabinets, granite countertops, SS appliances, bath vanities, bath fixtures, ceiling fans, light fixtures

Key facts

• Fully renovated
• Tile floors
• Fresh paint

Tags

• FULLY RENOVATED
• BRAND NEW KITCHEN
• STUNNING HALF BATH
• SPACIOUS LIVING AREA
• TILE FLOORS
• FRESH PAINT

Property features AI

Finance

• Other: Pool managed by association
• Financial info: Association fee: $460 monthly
• HOA & community: Monthly association fee; Association fee covers management, insurance, laundry, legal/accounting, grounds maintenance, structure maintenance, parking, pest control, reserve fund, roof, sewer, trash, and water; Community amenities: clubhouse, fitness center, laundry, library, billiard room, barbecue/picnic area, pool, shuffleboard, storage, tennis courts, elevators; Association-managed community with 60 units; Senior community

Exterior

• Parking: One assigned parking space; Parking included in association
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors
• Utilities: Cable available
• Home design: Condominium / attached property; One story (unit level); Entry on level 1; Has a view
• Construction: Block and stucco construction; Exterior lighting; Effective year built
• Exterior features: Enclosed porch; Glass-enclosed porch; Patio; Screened porch

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Microwave; Refrigerator; Garbage disposal
• Bedrooms: Bedroom on main level; Main level primary bedroom
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling; Ceiling fan(s)
• Interior features: Entrance foyer; Eat-in kitchen; Living/dining room; Pantry; Tub with shower; Walk-in closet(s); First floor entry; Main living area on entry level; Updated/remodeled condition
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $-45 ($-543/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (7.3% below list).
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#100 in FL, #1,527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment 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: Park Lakes Elementary School (math 35% / reading 44%, grade F, #1,513 of 2,144 statewide, top 73%, 970 students, 82% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 827 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 32% of the median local income ($58k/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 $754 of loan paydown is wiped out by about $3k 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 214 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $109k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% 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 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 1.41% ✓
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 5.9

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: -24.9%
• Equity multiple: 0.19×
• Total profit: $-24,719
• Equity at exit: $16,252

10-year hold

• IRR: -51.8%
• Equity multiple: -0.35×
• Total profit: $-41,302
• Equity at exit: $9,424

Cash invested: $30,520 (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 33319

• Rents YoY: -1.4%
• Active inventory: 827
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$572
• Tax from tax record: −$184 /mo · $2,208/yr
• Insurance: −$45
• HOA: −$460
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-45

Break-even live

Break-even rent $1,596

Max offer price $101,009

Occupancy floor 98%

Sensitivity live

Price	-10% $16	-5% $-14	+0% $-45	+5% $-76	+10% $-107
Rent	-10% $-167	-5% $-106	+0% $-45	+5% $16	+10% $76
Rate	-1.0pp $10	-0.5pp $-18	base $-45	+0.5pp $-73	+1.0pp $-102

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3301 NW 47th Ter #308 Lauderdale Lakes, FL	1.0	2.0	750	$2,200	$2.93	14d	1	0.63mi
3460 NW 50th Ave Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	750	$1,499	$2.00	18d	3	0.65mi
3531 NW 50th Ave #609 Lauderdale Lakes, FL	1.0	1.0	684	$1,350	$1.97	26d	1	0.68mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	26d	1	0.77mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	16d	1	0.78mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	1d	2	0.78mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	4d	2	0.78mi
3161 NW 47th Ter #110 Lauderdale Lakes, FL	1.0	1.5	721	$1,500	$2.08	7d	1	0.81mi
3161 NW 47th Ter #111 Lauderdale Lakes, FL	1.0	1.5	721	$1,500	$2.08	26d	1	0.81mi
3141 NW 47th Ter Lauderdale Lakes, FL	1.0–2.0	1.5–2.0	861	$1,440	$1.67	26d	2	0.82mi
5031 W Oakland Park Blvd Lauderdale Lakes, FL	1.0	1.0	683	$1,400	$2.05	12d	2	0.88mi
2901 NW 47th Ter Unit 247B Lauderdale Lakes, FL	1.0	1.5	662	$1,400	$2.11	1d	1	0.89mi
2901 NW 47th Ter Unit 348B Lauderdale Lakes, FL	1.0	1.5	662	$1,350	$2.04	26d	1	0.89mi
3061 NW 47th Ter Unit 335B Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	1d	1	0.89mi
3061 NW 47th Ter Unit 327B Lauderdale Lakes, FL	1.0	1.5	662	$1,600	$2.42	9d	1	0.89mi
3061 NW 47th Ter #327 Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	26d	1	0.89mi
3061 NW 47th Ter Unit 132C Lauderdale Lakes, FL	1.0	1.0	610	$1,500	$2.46	26d	1	0.89mi
5021 W Oakland Park Blvd Lauderdale Lakes, FL	1.0	1.0	684	$1,550	$2.27	19d	2	0.89mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL	1.0	1.5	705	$1,300	$1.84	26d	1	0.92mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	0d	16	0.98mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	26d	1	1.02mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	26d	1	1.06mi
4851 NW 26th Ct #338 Lauderdale Lakes, FL	1.0	1.0	705	$1,650	$2.34	18d	1	1.15mi
4174 Inverrary Dr #907 Lauderhill, FL	1.0	1.0	675	$1,500	$2.22	26d	1	1.18mi
3960 NW 31st Ter Unit 2 Lauderdale Lakes, FL	1.0	1.0	720	$1,500	$2.08	26d	1	1.19mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	14d	1	1.20mi
3720 Inverrary Dr Lauderhill, FL	3.0	1.0–2.0	940	$1,600	$1.70	12d	5	1.23mi
4033 Lakeside Dr #4033 Tamarac, FL	2.0	1.0	720	$1,700	$2.36	26d	1	1.23mi
4016 Lakeside Dr Unit 4016 Tamarac, FL	2.0	1.0	720	$1,800	$2.50	12d	1	1.23mi
4010 Lakeside Dr #4010 Tamarac, FL	2.0	1.0	720	$1,750	$2.43	19d	1	1.23mi
4010 Lakeside Dr #4010 Tamarac, FL	2.0	1.0	720	$1,700	$2.36	3d	1	1.23mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	13d	3	1.35mi
3760 Inverrary Dr Lauderhill, FL	2.0	1.0–2.0	800	$1,725	$2.16	7d	3	1.36mi
3760 Inverrary Dr Unit 3M Lauderhill, FL	—	1.0	450	$1,800	$4.00	26d	1	1.38mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,300	$1.57	5d	2	1.40mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	4d	1	1.43mi
3650 Inverrary Dr Lauderhill, FL	1.0	1.0–1.5	610	$1,570	$2.57	5d	3	1.46mi
3650 Inverrary Dr Lauderhill, FL	1.0	1.0–1.5	610	$1,570	$2.57	16d	3	1.46mi
2800 NW 56th Ave Lauderhill, FL	1.0–2.0	1.0–2.0	847	$1,480	$1.75	17d	6	1.47mi
2800 NW 56th Ave Lauderhill, FL	1.0–3.0	1.0–2.0	965	$1,250	$1.30	1d	8	1.47mi

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $109,000 Active 214 DOM
2. 2026-06-18
   days on market $109,000 Active 211 DOM
3. 2026-06-17
   days on market $109,000 Active 210 DOM
4. 2026-06-16
   days on market $109,000 Active 209 DOM
5. 2026-06-15
   days on market $109,000 Active 208 DOM
6. 2026-06-13
   days on market $109,000 Active 206 DOM
7. 2026-06-09
   days on market $109,000 Active 202 DOM
8. 2026-06-07
   days on market $109,000 Active 200 DOM
9. 2026-06-04
   days on market $109,000 Active 197 DOM
10. 2026-06-03
    days on market $109,000 Active 196 DOM
11. 2026-06-02
    days on market $109,000 Active 195 DOM
12. 2026-06-01
    days on market $109,000 Active 194 DOM
13. 2026-05-31
    days on market $109,000 Active 193 DOM
14. 2026-05-21
    price $109,000
15. 2026-03-07
    price $114,000
16. 2025-11-19
    listed $119,000 Active
17. 2025-04-01
    soldstatus $55,000 Closed
18. 2025-03-31
    soldstatus $55,500
19. 2025-02-27
    status Pending
20. 2025-02-20
    price $59,000
21. 2025-02-17
    listed $62,000 Active
22. 2025-01-28
    historical
23. 2024-11-20
    listed $74,900 Active
24. 2024-08-31
    historical
25. 2024-07-30
    listed $85,000 Active
26. 1994-06-15
    soldstatus $20,000
27. 1978-08-01
    soldstatus $30,500

ⓘ 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: $2,208 · $184/mo
• Projected year-2 tax: $2,208 · $184/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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,468
• − Mortgage interest: −$6,106
• − Property taxes: −$2,208
• − Insurance: −$545
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − HOA: −$5,520
• − Depreciation: −$3,171
• Taxable loss: −$2,037
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $-54/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 — Lauderdale Lakes

• Score: 81/100
• State rank: #100
• US rank: #1527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lauderdale Lakes, FL
• County: Broward County · 1,963,430 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,450
• Household income: $58,388
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 2809.0

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 0.58)
• Race & ethnicity: Black 61% Hispanic / Latino 17% White 15% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 13% Romanian 1% Italian 1%
• Foreign-born: 46% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 15% French/Haitian/Cajun 15% 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: ▼ -202.84%
• Current HPI: 328.4307
• Rent YoY: ▼ -1.38%
• 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

+257.4% since first listed

14 events — show timeline

• 2026-05-21 Price Changed $109,000 MARMLS
• 2026-03-07 Price Changed $114,000 MARMLS
• 2025-11-19 Listed $119,000 MARMLS
• 2025-04-01 Sold (MLS) $55,000 MARMLS
• 2025-03-31 Sold (Public Records) $55,500 Public Records
• 2025-02-27 Pending — MARMLS
• 2025-02-20 Price Changed $59,000 MARMLS
• 2025-02-17 Listed $62,000 MARMLS
• 2025-01-28 Listing Removed — MARMLS
• 2024-11-20 Listed $74,900 MARMLS
• 2024-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-07-30 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 1994-06-15 Sold (Public Records) $20,000 Public Records
• 1978-08-01 Sold (Public Records) $30,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $2,208 · +5.2% YoY. Source: county tax records.