413 SE 23rd St
Fort Lauderdale, FL 33316 · multi_family · For Sale · 7 days on market
Asking price$890,000
3 beds 3 baths 2,072 sqft
Suggested offer$706,748$183,252 above the est. market value of $706,748.
View on Realtor.com →Listed by HelloSold Realty · HelloSold LLC
Typemulti_family
Built1951
Price / sqft$430
Est. value (own analysis)$706,748
Rent estimate (building total, own analysis)$6,137/mo
HOANone
1 / 52
Show every detail
Statusfor_sale
Listed date2026-08-26
Removed date—
MLSBeachesMLS #B26068743
Coordinates26.09401, -80.13797
Address413 SE 23rd St
CityFort Lauderdale
StateFL
Zip33316
Listing ID6845135988
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33316)
Median sale price$900,000
Median days on market (sale)121
Active sale listings368
Median rent$2,500/mo
Median days on market (rent)34
Active rental listings281
Real ZIP-wide statistics from RentCast, as of 2026-09 (fetched 2026-09-03) — this is the whole ZIP's market, not specific to this property. Re-analyzing spends one of the account's 50 free monthly lookups. Our own log shows at least 6 of the 50 free monthly RentCast requests used — that only counts calls made through this app, so it can undercount. RentCast's own account dashboard has the real total.
Re-analyze ZIP 33316 (≥6 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $890,000 |
| Down payment (20.0%) | $178,000 |
| Loan amount | $712,000 |
| Closing costs (5.0%) | $44,500 |
| Total cash to close | $222,500 |
| Income | |
| Rent (estimate) | $6,137$73,639 |
| Vacancy loss (8.0%) | |
| Effective gross income | $5,646$67,748 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $1,409$16,910 |
| Insurance (placeholder 0.8% of price) | $593$7,120 |
| HOA dues | $0$0 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $307$3,682 |
| Total operating expenses | $2,309$27,712 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $307$3,682 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
No active rental listings cached yet for this bedroom count.
Widened to any bedroom count in ZIP. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 900 SE 12th St | multi_family | 2 | 2 | 1,615 | $725,000 | 2026-08-26 |
| 900 SE 12th St | multi_family | 2 | 0 | 1,615 | $725,000 | 2026-08-18 |
| 100 SE 21st St Unit 1-8 | multi_family | — | — | 5,104 | $1,450,000 | 2026-08-03 |
| 823 SE 18th St | multi_family | 4 | 3 | 1,813 | $600,000 | 2026-07-02 |
| 707 SE 18th St Unit 1-2 | multi_family | 2 | 2 | 1,200 | $490,000 | 2026-06-26 |
| 804 SE 13th St Apt 1 | multi_family | 2 | 1 | 3,298 | $356,000 | 2026-06-12 |
| 1790 Harbour Inlet Dr | multi_family | 16 | 20 | 9,419 | $7,150,000 | 2026-06-10 |
| 440 SE 23rd St | multi_family | 14 | 14 | 9,598 | $2,800,000 | 2026-05-28 |
| 2100 Miami Rd | multi_family | — | 0 | 30,891 | $9,000,000 | 2026-04-03 |
| 405-407 SE 23rd St | multi_family | 3 | 3 | 1,650 | $566,500 | 2026-03-12 |
| 412 SE 22nd St # 1-4 | multi_family | — | 0 | 2,482 | $1,000,000 | 2025-12-31 |
| 1901 Miami Rd | multi_family | — | — | 1,980 | $715,000 | 2025-12-12 |
| 1905 Miami Rd | multi_family | — | — | 2,768 | $816,000 | 2025-10-08 |
| 420 SE 18th Ct # 1-3 | multi_family | — | 0 | 2,448 | $835,000 | 2025-09-17 |
| 420 SE 18th Ct | multi_family | — | 0 | 2,448 | $835,000 | 2025-09-11 |
Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 1920 S Ocean Dr Apt 306 | condos | 3 | 3 | 1,329 | $290,000 | — |
| 1920 S Ocean Dr Apt 511 | condos | 3 | 2 | 1,293 | $299,000 | — |
| 1900 S Ocean Dr Apt 812 | condos | 3 | 2 | 1,293 | $365,000 | — |
| 200 SE 19th St | single_family | 3 | 2 | 1,134 | $690,000 | — |
| 1140 SE 6th Ter | single_family | 3 | 4 | 1,725 | $1,750,000 | — |
| 2100 S Ocean Dr Apt 5CD | condos | 3 | 3 | 2,161 | $599,000 | — |
| 1500 SE 12th St Unit 1A | condos | 3 | 4 | 2,288 | $1,500,000 | — |
| 1015 SE 11th Ct | single_family | 3 | 2 | 2,357 | $1,899,999 | — |
10-year hold projection
IRR4.8%
Equity multiple1.77x
Total return (10yr)$287,953
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $916,700 | $40,036 | -$18,552 | $704,280 | $212,420 |
| 2 | $944,201 | $41,376 | -$17,304 | $696,031 | $248,170 |
| 3 | $972,527 | $42,759 | -$16,015 | $687,214 | $285,313 |
| 4 | $1,001,703 | $44,187 | -$14,684 | $677,793 | $323,910 |
| 5 | $1,031,754 | $45,662 | -$13,308 | $667,724 | $364,030 |
| 6 | $1,062,707 | $47,185 | -$11,887 | $656,964 | $405,743 |
| 7 | $1,094,588 | $48,757 | -$10,419 | $645,465 | $449,123 |
| 8 | $1,127,425 | $50,381 | -$8,902 | $633,176 | $494,249 |
| 9 | $1,161,248 | $52,057 | -$7,335 | $620,044 | $541,204 |
| 10 | $1,196,086 | $53,787 | -$5,717 | $606,009 | $590,076 |
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.