5240 NE 6th Ave Unit H26 · Oakland Park, FL 33334

$195,000

3 bd · 2.0 ba · 1,003 sqft · Condo · 41 Days on market

Built 1973 Good condition $855/mo HOA · 24% 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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 3-bed, 2-bath residence at Embarcadero Condominium. This home features brand-new flooring throughout (2024) and a tankless water heater installed in 2024. The kitchen has been updated with modern appliances and includes a brand-new, in-box dishwasher, ready for the new owner. Enjoy the convenience of an in-unit washer and dryer (2024), along with two fully remodeled bathrooms. Located within a gated community with security, residents enjoy access to a community pool, assigned parking, and ample guest parking.

Key facts

• $855 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee; Association fee covers common area maintenance, grounds maintenance, security, trash, and water; Community amenities: clubhouse, fitness center, laundry, pool

Exterior

• Parking: Assigned parking
• Security: Association-provided security
• Utilities: Central HVAC; Water included in association fee; Municipal sewer and power
• Home design: Attached property; 2-story building; Second-floor entry
• Construction: Stucco construction; Effective year built
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Hardwood; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second-floor entry; Hardwood/wood flooring
• Laundry & utility: Washer and dryer included; Common area laundry available

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: schools 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.
• Market conditions: Rents rising (+2.0%/yr); 355 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,547/mo this rent would consume 56% of the median local household income ($75k/yr) (locally 1755% 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 + 2.0% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 8025% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.82% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• GRM: 4.6

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $3,690
• Equity at exit: $29,075

10-year hold

• IRR: 10.2%
• Equity multiple: 1.75×
• Total profit: $40,690
• Equity at exit: $16,860

Cash invested: $54,600 (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: 355
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,547 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$855
• Vacancy / Maint / Mgmt: −$745
• Net cashflow: $600

Break-even live

Break-even rent $2,788

Max offer price $195,000

Occupancy floor 78%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5157 NE 5th Ave Unit 1 Fort Lauderdale, FL	3.0	2.0	1250	$3,500	$2.80	3d	1	0.21mi
5409 NE 4th Ave Fort Lauderdale, FL	3.0	2.0	1178	$3,200	$2.72	24d	1	0.33mi
4780 NE 8th Ter Oakland Park, FL	3.0	2.0	1130	$4,200	$3.72	24d	1	0.39mi
5655 NE 5th Ter Fort Lauderdale, FL	3.0	2.0	1178	$3,250	$2.76	16d	1	0.45mi
5655 NE 5th Ter Fort Lauderdale, FL	3.0	2.0	1178	$3,250	$2.76	24d	1	0.45mi
4680 NE 5th Ave Fort Lauderdale, FL	3.0	2.0	1300	$3,800	$2.92	7d	1	0.53mi
540 NE 59th Ct Fort Lauderdale, FL	3.0	2.0	964	$3,400	$3.53	24d	1	0.63mi
4601 NE 4th Ave Unit 1261561P Fort Lauderdale, FL	3.0	2.0	1097	$4,430	$4.04	24d	1	0.64mi
5841 NE 3rd Ave Fort Lauderdale, FL	3.0	2.0	834	$3,200	$3.84	24d	1	0.65mi
5365 N Andrews Ave Fort Lauderdale, FL	3.0	2.0	1016	$3,500	$3.44	24d	1	0.66mi
4580 NE 3rd Ave Fort Lauderdale, FL	3.0	2.0	1192	$3,300	$2.77	20d	1	0.68mi
4650 NE 2nd Ave Fort Lauderdale, FL	3.0	2.0	1356	$3,950	$2.91	24d	1	0.68mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	4d	1	0.71mi
4511 NE 13th Ave Oakland Park, FL	2.0	2.0	1400	$3,200	$2.29	7d	1	0.71mi
4511 NE 13th Ave Oakland Park, FL	3.0	3.0	1416	$4,300	$3.04	24d	1	0.71mi
261 NE 45th St Fort Lauderdale, FL	3.0	2.0	997	$3,247	$3.26	24d	1	0.77mi
320 NW 51st Ct Fort Lauderdale, FL	3.0	2.0	1396	$3,500	$2.51	24d	1	0.79mi
540 NE 61st Ct Fort Lauderdale, FL	3.0	2.0	1272	$3,395	$2.67	3d	1	0.80mi
240 NW 48th Ct Fort Lauderdale, FL	3.0	2.0	1240	$3,100	$2.50	3d	1	0.80mi
4764 NE 15th Way Oakland Park, FL	3.0	2.0	1218	$3,500	$2.87	24d	1	0.82mi
1575 NE 47th St Oakland Park, FL	3.0	2.0	1358	$3,700	$2.72	24d	1	0.84mi
4360 NE 13th Ave Oakland Park, FL	3.0	2.0	1269	$3,700	$2.92	24d	1	0.87mi
4360 NE 13th Ave Oakland Park, FL	3.0	2.0	1459	$3,700	$2.54	5d	1	0.87mi
4360 NE 13th Ave Unit Main Oakland Park, FL	3.0	2.0	1269	$4,500	$3.55	22d	1	0.87mi
351 NE 41st St Oakland Park, FL	2.0	1.0	900	$3,400	$3.78	24d	1	1.01mi
5770 NE 18th Ave Fort Lauderdale, FL	4.0	2.0	1459	$7,500	$5.14	14d	1	1.03mi
1421 NE 41st St Oakland Park, FL	2.0	2.0	1366	$4,000	$2.93	24d	1	1.06mi
6500 N Andrews Ave Fort Lauderdale, FL	2.0	1.0–2.0	943	$3,146	$3.34	2d	31	1.14mi
3801 Dixie Hwy Oakland Park, FL	2.0	1.0–2.0	944	$3,584	$3.80	14d	45	1.26mi
3781 NE 13th Ave Oakland Park, FL	2.0	1.0	869	$3,900	$4.49	24d	1	1.32mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	4d	1	1.34mi
1740 NE 64th St Fort Lauderdale, FL	3.0	2.0	1364	$4,800	$3.52	11d	1	1.34mi
2155 NE 56th Ct Fort Lauderdale, FL	3.0	2.0	1500	$3,500	$2.33	24d	1	1.36mi
2100 NE 45th St #1 Fort Lauderdale, FL	3.0	3.5	1340	$9,500	$7.09	24d	1	1.36mi
4804 NE 21st Ave #4804 Fort Lauderdale, FL	2.0	2.0	1400	$4,500	$3.21	24d	1	1.40mi
331 NW 38th St Oakland Park, FL	2.0	1.5	1040	$3,900	$3.75	7d	1	1.47mi
331 NW 38th St Oakland Park, FL	2.0	1.5	1040	$3,900	$3.75	17d	1	1.47mi
342 SW 14th St Pompano Beach, FL	3.0	2.0	1458	$5,000	$3.43	24d	1	1.50mi

HOA detail condo

• Monthly dues: $855 · $10,260/yr
• Likely covers: waterpoolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $195,000 Active 41 DOM
2. 2026-06-17
   days on market $195,000 Active 40 DOM
3. 2026-06-16
   days on market $195,000 Active 39 DOM
4. 2026-06-15
   days on market $195,000 Active 38 DOM
5. 2026-06-13
   days on market $195,000 Active 36 DOM
6. 2026-06-09
   days on market $195,000 Active 32 DOM
7. 2026-06-08
   days on market $195,000 Active 31 DOM
8. 2026-06-07
   days on market $195,000 Active 30 DOM
9. 2026-06-04
   days on market $195,000 Active 27 DOM
10. 2026-06-03
    days on market $195,000 Active 26 DOM
11. 2026-06-02
    days on market $195,000 Active 25 DOM
12. 2026-06-02
    price $195,000 Active 24 DOM
13. 2026-06-01
    days on market $215,000 Active 24 DOM
14. 2026-05-31
    days on market $215,000 Active 23 DOM
15. 2026-05-23
    historical $2,200
16. 2026-05-14
    status Active
17. 2026-05-12
    price $2,200
18. 2026-04-25
    price $2,275
19. 2026-04-17
    listed $2,400
20. 2026-04-10
    listed $215,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 21% 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: $42,570
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$3,406
• − Management: −$3,406
• − HOA: −$10,260
• − Depreciation: −$5,673
• Taxable income: $5,003
• Est. tax owed @ 24.0%: −$1,201
• After-tax cash flow: $5,998/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath condo is move-in ready with recent updates and a good condition score.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and property value
• Both Replace blinds — Improves natural light and aesthetics
• Resale Replace flooring — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and property value ↑
• Both Replace blinds — Improves natural light and aesthetics ↑
• Resale Replace flooring — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-99.0% since first listed

6 events — show timeline

• 2026-05-23 Rental Removed $2,200 MARMLS
• 2026-05-14 Relisted — MARMLS
• 2026-05-12 Price Changed $2,200 MARMLS
• 2026-04-25 Price Changed $2,275 MARMLS
• 2026-04-17 Listed for Rent $2,400 MARMLS
• 2026-04-10 Listed $215,000 MARMLS