luxury home for sale at 1515 NW 2nd Avenue, Fort Lauderdale, FL — Progresso1 / 64
luxury

$425,000

1515 NW 2nd Avenue, Fort Lauderdale, FL 33311

Fort Lauderdale, FL, 33311

— bd · — ba · 1,523 sqft

Listed by Related General Realty, LLC.

Estimated monthly payment

$3,186/mo

Income & expenses

2 units
Building totalsMonthlyAnnual
Gross rental income$3,600$43,200
Operating expenses (est.)$962$11,545
Net operating income (est.)$2,638$31,655

Expenses include estimated taxes, insurance, HOA and the 10% vacancy, repairs and management allowance. Loan payments are separate.

Yearly rent

$43,200

Property taxes after sale

$5,100

Florida average estimate

Insurance estimate

$2,125

South Florida average insurance estimate

$425,000
$340,000 (20% below)Asking $425,000

Cap rate — optimistic

8.46%

NOI $35,975/yr

Rent minus taxes, insurance and HOA.

Cap rate — conservative

7.45%

NOI $31,655/yr

Also minus 10% for vacancy, repairs and management.

Cash flow with a loan

20% · $85,000
0%50%100%
Loan payment $26,463/yr
Cash flow $5,192/yr
Cap rate 7.45%
Cash-on-cash 6.11%
Cash flow ÷ price 1.22%

Conservative net operating income minus a 30-year loan payment at the price tested above.

Rent figures come from the listing. Taxes are estimated at the tested price, since Florida taxes reset on sale. Planning estimate only, not a quote. Actual premiums depend on roof age, wind mitigation, flood zone, claims history and the carrier. Verify all income and expenses with the seller's rent roll before writing an offer. Estimate only, not guaranteed. Verify before you buy or sell.

Know your costs before you buy

Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.

Estimated monthly payment $3,186/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.

About this home

Find similar homes

6.57% EST. CAP RATE!! Fully rented duplex near highly desirable Wilton Manors generating $3,600/month in rental income. Tenants pay water and electricity, helping keep owner expenses low and providing immediate income from day one. Each unit offers its own washer/dryer, water heater, separate electric meter and private backyard—features that support tenant privacy and long-term rental appeal. Property features no cloth wiring and newer appliances. Long-term tenants are already in place with active leases. Minutes from Wilton Manors, Las Olas, Flagler Village, Sistrunk Marketplace, Downtown Fort Lauderdale and the beach. Sold AS-IS with no surprises: full inspection, 4-point, wind mitigation and contractor estimates for roof replacement and cast-iron line lining are available to buyers. Short sale subject to lender approval. Ideal for buy-and-hold or 1031 exchange investors.

Good deal

Why we flagged this one

A transparent review of current MLS facts—not a paid placement.

  • Price reduced 13%

    The seller has come down from $490,000 to $425,000 — a $65,000 reduction since it came on the market.

  • 127 days on market

    Longer time on market usually means the seller is more open to negotiating on price and terms.

Price reductions and days on market come from this listing's MLS record. This is an initial market signal, not a formal appraisal or full comparable market analysis.

Your costs (est.)

≈ $3,186/mo

1515 NW 2nd Avenue, Fort Lauderdale, FL 33311 · Fort Lauderdale

Location

1515 NW 2nd Avenue, Fort Lauderdale, FL 33311

Simon Gedz, South Florida luxury real estate specialist

Simon Gedz

Realtor® since 1995

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