609 NE 13th Ave #301 · Fort Lauderdale, FL 33304

$175,000

2 bd · 2.0 ba · 830 sqft · Condo public records · 87 Days on market

Built 1974 $769/mo HOA · 31% of rent

---

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).

• 1% rule +9.3/10.0
• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Victoria Park condo featuring split floor plan, double master with en suite bathrooms, bright corner unit, walking closets, dining/living room, central AC & full kitchen. Community pool, laundry facility, assigned parking space & guest parking. Great opportunity to own in a sought after neighborhood, add your touches and make it your own. Steps away from Holiday Park, Las Olas & downtown Ft. Lauderdale, Galleria Mall and beaches.

Key facts

• Double master
• Walking closets
• Community pool

Tags

• SPLIT FLOOR PLAN
• DOUBLE MASTER
• EN SUITE BATHROOMS
• CORNER UNIT
• WALKING CLOSETS
• COMMUNITY POOL

Property features AI

Finance

• Financial info: Monthly land lease: $278; Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee includes amenities; Association amenities: Elevator(s), Laundry, Pool

Exterior

• Parking: Assigned parking; Guest parking available; One assigned space
• Security: Fenced complex
• Utilities: Public water; Public sewer; Electric service
• Home design: Attached property; Located on entry level 3; 4-story building; Resale unit; Entry located at level 3
• Construction: Block construction
• Exterior features: Association pool; Complex is fenced

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (13.5% below list).
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $151k (13.5% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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.
• Zoned schools: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL).
• Market conditions: Rents rising (+2.8%/yr); 630 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 35% of the median local income ($85k/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 $5k 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 87 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $126k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 31% 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 $151,429 (13.5% 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 87 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — 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. 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?
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: 1.43% ✓
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.25×
• Total profit: $-36,891
• Equity at exit: $26,093

10-year hold

• IRR: -15.7%
• Equity multiple: 0.12×
• Total profit: $-43,225
• Equity at exit: $15,131

Cash invested: $49,000 (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 33304

• Rents YoY: 2.8%
• Active inventory: 630
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,506 high
• Mortgage (P&I): −$918
• Tax from tax record: −$353 /mo · $4,241/yr
• Insurance: −$73
• HOA: −$769
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-133

Break-even live

Break-even rent $2,675

Max offer price $151,429

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-84	+0% $-133	+5% $-183	+10% $-232
Rent	-10% $-331	-5% $-232	+0% $-133	+5% $-34	+10% $65
Rate	-1.0pp $-45	-0.5pp $-89	base $-133	+0.5pp $-179	+1.0pp $-225

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 NE 13th Ave #03 Fort Lauderdale, FL	1.0	1.0	750	$3,600	$4.80	26d	1	0.02mi
625 NE 13th Ave Unit 02 Fort Lauderdale, FL	2.0	1.0	800	$4,000	$5.00	26d	1	0.02mi
609 NE 13th Ave #101 Fort Lauderdale, FL	2.0	2.0	830	$2,500	$3.01	26d	1	0.04mi
615 NE 12th Ave Fort Lauderdale, FL	2.0	2.0	1060	$2,800	$2.64	6d	2	0.04mi
615 NE 12th Ave Fort Lauderdale, FL	2.0	2.0	1060	$2,800	$2.64	26d	2	0.04mi
615 NE 12th Ave Fort Lauderdale, FL	2.0	2.0	1100	$3,200	$2.91	12d	1	0.04mi
625 NE 14th Ave Apt 4 Fort Lauderdale, FL	1.0	1.0	675	$1,725	$2.56	0d	1	0.08mi
625 NE 14th Ave Unit 1 Fort Lauderdale, FL	1.0	1.0	625	$1,695	$2.71	26d	1	0.08mi
611 NE 14th Ave Fort Lauderdale, FL	1.0–2.0	1.0–2.0	720	$2,400	$3.33	26d	2	0.08mi
611 NE 14th Ave #306 Fort Lauderdale, FL	2.0	2.0	820	$2,400	$2.93	24d	1	0.08mi
618 NE 14th Ave Unit 1369652P Fort Lauderdale, FL	1.0	1.0	807	$2,859	$3.54	9d	1	0.11mi
1408 NE 6th St Unit 4 Fort Lauderdale, FL	2.0	1.0	800	$1,875	$2.34	20d	1	0.15mi
631 NE 10th Ave Apt 4 Fort Lauderdale, FL	1.0	1.0	557	$1,699	$3.05	26d	1	0.16mi
716 NE 14th Ave Unit 4 Fort Lauderdale, FL	1.0	1.0	600	$1,775	$2.96	26d	1	0.16mi
1508 NE 6th St Unit A Fort Lauderdale, FL	2.0	1.0	804	$3,500	$4.35	26d	1	0.21mi
701 NE 16th Ave Fort Lauderdale, FL	1.0–2.0	1.0	656	$1,999	$3.05	16d	4	0.22mi
701 NE 16th Ave Fort Lauderdale, FL	2.0	1.0	725	$1,944	$2.68	6d	2	0.22mi
701 NE 16th Ave Fort Lauderdale, FL	2.0	1.0	725	$1,869	$2.58	4d	2	0.22mi
701 NE 16th Ave Fort Lauderdale, FL	1.0–2.0	1.0	641	$1,889	$2.95	5d	2	0.22mi
727 NE 16th Ave Unit 727D Fort Lauderdale, FL	1.0	1.0	705	$1,850	$2.62	26d	1	0.23mi
719 NE 16th Ave Unit 719B Fort Lauderdale, FL	2.0	1.0	936	$2,200	$2.35	0d	1	0.23mi
727 NE 16th Ave Unit 727D Fort Lauderdale, FL	1.0	1.0	705	$1,750	$2.48	0d	1	0.23mi
717 NE 16th Ave Unit 717A Fort Lauderdale, FL	1.0	1.0	705	$1,800	$2.55	26d	1	0.23mi
628 NE 8th Ave Unit 2 Fort Lauderdale, FL	1.0	1.0	600	$1,849	$3.08	26d	1	0.24mi
737 NE 16th Ave Unit 4 Fort Lauderdale, FL	2.0	2.0	1029	$2,300	$2.24	7d	1	0.25mi
1614 NE 7th St Fort Lauderdale, FL	1.0	1.0	879	$2,200	$2.50	24d	1	0.26mi
715 NE 6th St Unit 9 Fort Lauderdale, FL	1.0	1.0	650	$1,850	$2.85	24d	1	0.28mi
715 NE 6th St Unit 9 Fort Lauderdale, FL	1.0	1.0	650	$1,800	$2.77	6d	1	0.28mi
746 NE 16th Ter Fort Lauderdale, FL	2.0	2.0	1000	$5,500	$5.50	22d	1	0.33mi
1620 NE 8th St Fort Lauderdale, FL	2.0	1.0	1100	$3,500	$3.18	16d	1	0.35mi
847 NE 16th Ave Unit 1369651P Fort Lauderdale, FL	1.0	1.0	645	$3,364	$5.22	7d	1	0.36mi
501 NE 17th Ave Fort Lauderdale, FL	2.0	1.0	750	$2,099	$2.80	22d	1	0.37mi
501 NE 17th Ave Unit 3 Fort Lauderdale, FL	2.0	1.0	750	$2,099	$2.80	24d	1	0.37mi
917 NE 16th Ave #16 Fort Lauderdale, FL	2.0	2.0	960	$2,250	$2.34	26d	1	0.40mi
917 NE 16th Ave #16 Fort Lauderdale, FL	2.0	2.0	960	$2,350	$2.45	15d	1	0.40mi
301 NE 15th Ave Unit 1 Fort Lauderdale, FL	2.0	2.0	880	$2,995	$3.40	24d	1	0.40mi
1300 NE 3rd St Fort Lauderdale, FL	1.0	1.0	600	$1,799	$3.00	5d	2	0.41mi
901 NE 3rd St Fort Lauderdale, FL	1.0–2.0	1.0	625	$2,200	$3.52	7d	3	0.42mi
828 NE 17th Ave Unit 2 Fort Lauderdale, FL	2.0	2.0	850	$2,250	$2.65	26d	1	0.44mi
832 NE 17th Ave Fort Lauderdale, FL	1.0	1.0	850	$2,250	$2.65	26d	1	0.44mi

HOA detail condo

• Monthly dues: $769 · $9,228/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-13
   statusdays on market $175,000 Pending 87 DOM
2. 2026-06-09
   days on market $175,000 Active 85 DOM
3. 2026-06-08
   days on market $175,000 Active 84 DOM
4. 2026-06-07
   days on market $175,000 Active 83 DOM
5. 2026-06-04
   days on market $175,000 Active 80 DOM
6. 2026-06-03
   days on market $175,000 Active 79 DOM
7. 2026-06-02
   days on market $175,000 Active 78 DOM
8. 2026-06-01
   days on market $175,000 Active 77 DOM
9. 2026-05-31
   days on market $175,000 Active 76 DOM
10. 2026-04-29
    price $175,000
11. 2026-03-16
    listed $185,000 Active
12. 2026-02-11
    historical
13. 2025-12-20
    status Active
14. 2025-12-16
    historical Active Under Contract
15. 2025-11-26
    status Pending
16. 2025-11-18
    price $199,999
17. 2025-10-21
    price $219,900
18. 2025-10-03
    price $229,900
19. 2025-09-10
    price $239,900
20. 2025-09-10
    status Active
21. 2025-08-06
    price $249,900
22. 2025-07-09
    price $265,000
23. 2025-04-11
    listed $289,999 Active
24. 2024-05-15
    historical $2,050
25. 2024-04-23
    price $2,050
26. 2024-03-01
    listed $2,200
27. 2019-03-20
    soldstatus $126,000
28. 2013-06-18
    historical

ⓘ 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: $4,241 · $353/mo
• Projected year-2 tax: $4,241 · $353/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 4/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,070
• − Mortgage interest: −$9,803
• − Property taxes: −$4,241
• − Insurance: −$875
• − Repairs & maintenance: −$2,406
• − Management: −$2,406
• − HOA: −$9,228
• − Depreciation: −$5,091
• Taxable loss: −$3,979
• Est. tax savings @ 24.0%: +$955
• After-tax cash flow: $-646/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): 18,332
• Household income: $84,920
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1534.0

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 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 19% Two or more races 17% Black 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3%
• Common ancestry: Hispanic 5% Scotch-Irish 3% Romanian 2%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 20% Other Indo-European 6% 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: ▼ -522.22%
• Current HPI: 348.0065
• Rent YoY: ▲ 2.75%
• 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

+38.9% since first listed

19 events — show timeline

• 2026-04-29 Price Changed $175,000 MARMLS
• 2026-03-16 Listed $185,000 MARMLS
• 2026-02-11 Listing Removed — MARMLS
• 2025-12-20 Relisted — MARMLS
• 2025-12-16 Contingent — MARMLS
• 2025-11-26 Pending — MARMLS
• 2025-11-18 Price Changed $199,999 MARMLS
• 2025-10-21 Price Changed $219,900 MARMLS
• 2025-10-03 Price Changed $229,900 MARMLS
• 2025-09-10 Price Changed $239,900 MARMLS
• 2025-09-10 Relisted — MARMLS
• 2025-08-06 Price Changed $249,900 MARMLS
• 2025-07-09 Price Changed $265,000 MARMLS
• 2025-04-11 Listed $289,999 MARMLS
• 2024-05-15 Rental Removed $2,050 MARMLS
• 2024-04-23 Price Changed $2,050 MARMLS
• 2024-03-01 Listed for Rent $2,200 MARMLS
• 2019-03-20 Sold (Public Records) $126,000 Public Records
• 2013-06-18 Listing Removed — MARMLS

Property tax history

+6.1%/yr

Latest (2025): $4,241 · +10.4% YoY. Source: county tax records.