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$459,000

Beds
3
Baths
2.0
sq ft
1,477

5501 NE 1st Ter, Fort Lauderdale, FL 33334

5501 NE 1st Ter

Fort Lauderdale, FL 33334

  • 13 days on market
    • Price drop $11,000↓
Check out this well-located corner lot in North Andrews Gardens—just minutes from I-95 and the beaches. Close enough to the action but in a tranquil space in a great neighborhood. This house has a strategic floor plan divided into a three-bedroom, one-bath main house and a mother-in-law studio that can be the fourth bedroom with its own bathroom. Currently, the studio is occupied and the tenant pays $1400 monthly. The semi-converted garage can store motorcycles, golf carts, and other toys. Impact windows and doors, installed in 2017, keep the vibe quiet inside. The shingle roof was installed in 2017. Two different laundry setups so the mother-in-law suite can be rented more easily. The main house is owner-occupied and can be shown at any time. Contact James via text.

Details

Property type

Single Family Residence

Est. home value

$511,927

Lot size

7,741 sq ft

Price per sq ft

$311

Year built

1956

Annual property taxes

$4,656

Price History

01/09/2025
Beaches

Beaches #F10475410

Price change
$459,000
-2.34%
01/09/2025
Beaches

Beaches #F10475410

Listed
$470,000
+67.86%
04/27/2018
Beaches

Beaches #F10097526

Sold
$280,000
+53.01%

Schools & Community

Neighborhood: 

North Andrews Gardens

Elementary school: 

North Andrews Gardens

Middle school: 

James S. Rickards

High school: 

Northeast

Community features: 

Sidewalks

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$194,171
Asking price
$459,000
Closing costs (~8% of asking)
-$36,720
Est. remaining loan balance
-$228,109
Cash to seller
$194,171

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Flagstar Bank Fsb

Loan start date

December 2020

Original loan amount

$251,200

Est. remaining balance

$228,109

Interest rate

2.81%

Loan type

New Conventional, 30 year

Seller

James Mcowen and Patricia Cabot

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 01/22/2025 at 8:50 AM

Listing updated: 01/17/2025 at 9:35 AM

Listed by: James D McOwen, Beckett Realty Advisors, LLC Phone #: (954) 900-9811

MLS: Beaches #F10475410

Beaches logo