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+41 photosLuxury home — 1621-1623 NE 16th Terrace NE · Progresso · Fort Lauderdale
$839,000
1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305
Fort Lauderdale, FL, 33305
— bd · — ba · 2,342 sqft
Listed by Charles Rutenberg Realty FTL
1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305
Listed by Charles Rutenberg Realty FTL
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Estimated monthly payment
$6,039/mo
Income & expenses
| Building totals | Monthly | Annual |
|---|---|---|
| Gross rental income | $5,290 | $63,480 |
| Operating expenses (est.) | $1,718 | $20,611 |
| Net operating income (est.) | $3,572 | $42,869 |
Expenses include estimated taxes, insurance, HOA and the 10% vacancy, repairs and management allowance. Loan payments are separate.
Yearly rent
$63,480
Property taxes after sale
$10,068
Florida average estimate
Insurance estimate
$4,195
South Florida average insurance estimate
Cap rate — optimistic
5.87%
NOI $49,217/yr
Rent minus taxes, insurance and HOA.
Cap rate — conservative
5.11%
NOI $42,869/yr
Also minus 10% for vacancy, repairs and management.
Cash flow with a loan
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 $6,039/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.
Cash to close includes the down payment, lender and title costs, taxes, insurance prepayments and escrow deposits. Editable estimate only.
Insurance and flood: AE · verify insurance quotes before buying.
About this home
Find similar homesPrime Fort Lauderdale Investment Opportunity. This beautifully updated property offers an exceptional opportunity for homeowners or investors alike. The property features: Unit 1621: 2 Bedrooms / 3 Bathrooms Unit 1623: 1 Bedroom / 1 Bathroom. Enjoy modern upgrades throughout, including. Stainless steel appliances, updated kitchen & bathrooms, thoughtfully designed tile flooring, Impact windows, Fresh interior paint, Washer & dryer, and Private fenced backyard. Perfectly situated near major highways, restaurants, shopping, and entertainment, including: Minutes to Wilton Manors; near The Galleria at Fort Lauderdale Approx. 18 minutes to Fort Lauderdale-Hollywood International Airport, only 10 minutes to the beach, 11 minutes to I-95. 16 minutes to I-595 Property yearly gross income $63,480
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
170 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.
Property Details
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Your costs (est.)
≈ $6,039/mo
1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305 · Fort Lauderdale
Location
1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305
What buyers ask about this home
What are the estimated monthly carrying costs at 1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305?+
Property tax (after sale): $1,285/month est.; homeowners insurance: $400/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $1,685/month est. Principal and interest: $4,353/month; PMI: $0/month. Total for the payment scenario shown: $6,039/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.
Will property taxes go up after I buy 1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305?+
Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.
Does 1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305 need flood insurance, and what drives the premium?+
Most of Fort Lauderdale sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.
What should an inspection focus on for a home like 1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305?+
In coastal South Florida, prioritize roof age and permit history, whether windows and doors are impact-rated, the seawall and dock condition on waterfront lots, drainage and elevation, plumbing type (cast iron and polybutylene are common in homes of this era), and any open or expired permits with the city. These items, not cosmetics, drive both price and insurability.
Is there room to negotiate on 1621-1623 NE 16th Terrace NE, Fort Lauderdale, FL 33305?+
This listing has been on the market 170 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.
Neighborhood & Commute
Fort Lauderdale. Venice of America — 165+ miles of navigable waterways, Las Olas dining, and easy I-95 / Brightline access.
Approximate Drive Times
Drive times are estimates based on straight-line distance at typical South Florida traffic speeds. Actual times vary with traffic and routing.
Assigned schools for this address
Bennett Elementary School
Elementary · 0.3 mi from this home · 1755 Ne 14Th St, Fort Lauderdale
Sunrise Middle School
Middle school · 0.4 mi from this home · 1750 Ne 14Th St, Fort Lauderdale
Fort Lauderdale High School
High school · 0.8 mi from this home · 1600 Ne 4Th Ave, Fort Lauderdale
Zone boundaries published by Broward County Public Schools.
Other options for this address
Somerset Academy Village Charter Middle School
Middle school · Charter · Grades 6–8 · Wilton Manors
ST. Thomas Aquinas High School
High school · Private · Catholic · Grades 9–12 · Fort Lauderdale
Edith Robinson Christian Academy
High school · Private · Christian · Grades 9–12 · Fort Lauderdale
Lighthouse Christian Academy
Pre-K & Kindergarten · Private · Christian · Grades 4–12 · Oakland Park
Ameribelge Center For Education
Pre-K & Kindergarten · Private · Grades PK–11 · Fort Lauderdale
Permission To Succeed Education Center
Pre-K & Kindergarten · Private · Grades PK–12 · Port ST. Lucie
Permission To Succeed Education Center
Pre-K & Kindergarten · Private · Grades K–12 · Port ST. Lucie
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
Simon Gedz
Realtor® since 1995
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