Flagler Village is downtown Fort Lauderdale’s urban infill corridor — Flagler Drive, SW 2nd Street, and progressive development adjacency where loft and townhouse stock trades $295K–$365K as-is and supports professional tenants at $2,850–$3,400/mo.
Hard money loans in Flagler Village fund dated urban conversions, mixed-use adjacency plays, and fast-close contracts on walkable downtown inventory.
Flagler Village economics (2026)
| Asset | As-is | Rehab | Rent / ARV |
|---|---|---|---|
| Townhome hold | $302K–$358K | $45K–$62K | $2,875–$3,250/mo |
| Loft conversion | $288K–$342K | $52K–$72K | $2,950–$3,400/mo |
| Cosmetic flip | $315K–$372K | $38K–$55K | ARV $398K–$445K |
Metro: Fort Lauderdale hard money · FL DSCR · Compare: Victoria Park.
Worked example: SW 2nd townhome BRRRR
Purchase: $328,000 — 1988 townhome, dated kitchen, HVAC end of life.
Rehab: $51,000 — kitchen/bath, LVP, HVAC, paint.
Hard money: 85% LTC @ 10.95% IO.
Lease: $3,075/mo — downtown professional.
Insurance: $5,350/yr Broward mid-coastal.
Appraisal: $398,000
DSCR refi 66% LTV @ 7.75% — DSCR ~1.09.
Flagler lesson: HOA rental caps — read declarations before BRRRR; some buildings cap investor units at 20%–25%.
Worked example: Loft light flip
Buy: $305,000 — cosmetic scope.
Rehab: $42,000.
Sale: $392,000 — 55-day DOM.
Net spread: ~$18,200 — acceptable when capital recycles to Sistrunk value-add.
Local risks
HOA and condo restrictions — rental minimums, investor caps, special assessments on older buildings. Flood near New River — elevation certificate on select parcels. Parking — deeded vs rented; affects rent tier.
Noise and construction — downtown build-out ongoing; verify block-level disruption before ARV comp selection.
New River flood diligence
Parcels within 500 feet of water may require flood insurance stacking $150–$350/mo on NOI — FEMA map and elevation cert before hard money close.
Professional tenant marketing
Walk-to-work and in-unit laundry justify $3,000+ on renovated 2-bed — stock photos must match downtown finish tier, not suburban CBS comp marketing.
HOA investor cap audit checklist
Before BRRRR LOI on townhome stock: confirm investor ownership under cap, minimum lease term, rental registration with city, and no pending special assessment over $5K. Failed HOA diligence blocks DSCR refi after rehab spend.
Broward urban condo vs townhome
Condo stock adds warrantability and master policy review — some buildings fail investor concentration rules. Townhome with fee-simple lot simplifies FL DSCR but may still have HOA rental caps.
New River elevation certificate workflow
Order elevation cert during inspection period on river-adjacent parcels — +$2,400–$4,800/yr flood premium moves DSCR from 1.12 to 0.94 at identical rent. Walk away when cert shows BFE within 2 feet of finished floor without raise budget.
Downtown DOM and professional tenant seasonality
Q1 and Q3 see strongest downtown lease-up — corporate relocations to Broward offices peak January and September. List Flagler units 15 days before for $3,000+ 2-bed achievement.
Flagler vs Victoria Park capital efficiency
Flagler lower basis with higher HOA friction — Victoria Park higher basis with fee-simple flip simplicity. Match product to sponsor experience: first Broward deal often starts Sistrunk or Flagler before Victoria Park premium.
Wind mitigation on townhome roofs
Townhome shared roof repairs require HOA coordination — budget +21 days when neighbor unit delay blocks mitigation inspection. Insurance re-quote waits on full building compliance on some associations.
Downtown Broward rent achievement checklist
- In-unit laundry or stacked W/D hookups confirmed
- Dedicated parking deeded or leased with lease file
- Impact-rated or shutter-ready openings documented
- 12-month lease template — no STR on standard DSCR exit
- Photos matching finish tier on appraisal upload
Flagler Village worked hold — full NOI stack
Gross rent $3,075 · vacancy 6% · effective $2,891 · taxes $485 · insurance $446 · maintenance $165 · management 8% ($231) · NOI ~$1,564 · debt at 66% LTV ($262K, 7.75%) ~$1,845/mo → DSCR ~0.85 at 66% — sponsor needed $3,200 rent or 62% LTV for 1.05 clearance. Honest modeling prevents mid-project scope creep.
Due diligence timeline (Flagler Village)
| Day | Task |
|---|---|
| 0–2 | HOA docs + investor concentration |
| 2–4 | Elevation cert on New River parcels |
| 4–6 | Parking deed audit |
| 6–8 | Downtown comp set + GC scope |
| 8–10 | Close |
Red flags: rental cap full · flood BFE within 2 ft of floor · shared roof HOA dispute · special assessment over $5K. Lease-up peaks January and September — list 15 days early for $3,000+ 2-bed.
Mitigation note: Townhome roof packages that qualify for 25% premium reduction often require $11K–$18K scope — sequence in draw one when FL DSCR exit is Plan B on downtown hold.
Flagler STR vs LTR exit
Downtown STR ordinances and building bans make 12-month LTR the default DSCR path — underwrite professional tenant at $2,875–$3,150, not Airbnb pro forma, unless your permanent lender product explicitly allows short-term income documentation. Metro: Fort Lauderdale hard money · Sistrunk · Florida DSCR insurance guide.
FAQ
Hollywood deals?
Broward-wide on pre-qual — insurance quoted by parcel not city average.
Wind mitigation timing?
Roof and openings in draw one — re-quote insurance before DSCR application.
Elevation cert on river parcels?
Required before close on New River adjacency — flood premium in pro forma.
HOA special assessment?
Review reserves — assessments over $5K compress flip and hold returns.
Pre-Qualify for Flagler Village Hard Money · Fort Lauderdale metro · (833) 264-7776