Vacant lot

1950 SW 23 Ct

River OaksFort Lauderdale24,942 sq ft lot (0.57 acres)Zoned RD-15

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Aerial from January 2026, the newest available. The pink line is the surveyed parcel boundary.

What it’s worth as land

From recorded sales

$549–773KMiddle half of nearby land sales, adjusted for lot size (12 sales), applied to this lot’s 24,942 sq ft.

Land price per sq ft, sized to this lot

$0$25$50

Sized to this lot, nearby land sales point to about $25 per sq ft. This parcel last sold for $305K in Nov 2017 ($12 per sq ft, the pink dot).

Does it pencil?

Build-and-sell pro forma

Supports a land price up to$176Kto build and sell a 3,300 sq ft home here at a 15% margin.

Doesn’t pencilAt $624K for the land:Loss $309K · −23.7%Needs $589/sq ft to hit 15% · assumed $395

Land $624KBuild $710KSoft costs $71KCarry $131KSelling $78KLoss $309KSale $1.3M

Land price$Midpoint of nearby land sales, adjusted for lot sizeHome sizesq ftmedian new home in River OaksSale price per sq ft$8 nearest new homes soldBuild cost per sq ft$Builder grade assumption, per sq ft of total area. Declared permit values here run ~$111/sq ft, well under real cost.Soft costs% of buildDesign, engineering, permits, insuranceMonths, purchase to salemoBuild ~24 mo (Fort Lauderdale median off the water) + permitting and saleInterest rate%On a loan covering about 65% of costsSelling costs% of saleTarget margin% of sale

Fort Lauderdale calibration

Calibrated on 148 Fort Lauderdale deals. With these build costs the calculator's land budget is a median 100% of what the builders actually paid for the lot, and within 25% of it on 87 of the 148 (the old defaults came to 41%).

A quick pro forma, not an appraisal. Every number is editable; the starting points come from city records, and build cost is an assumption to replace with a builder’s bid.

The rules

City GIS and parcel roll

Zoning: RD-15 Residential Single Family and Duplex/Medium Density
Flood zone: AE base flood elevation 6 ft
Lowest floor: 7 ft+ BFE + 1 ft minimum under the Florida Building Code; confirm with the city
Waterfront: No
Lot size: 24,942 sf 0.57 acres
Ownership: Company often a builder or investor

Setbacks, height and lot coverage depend on the zoning district; see Fort Lauderdale’s Unified Land Development Regulations. Confirm with a surveyor and the city before you buy.

Nearby land sales

Off the water · last 5 years

Address	Sold	Price	Lot	$/sq ft	Away
1821 SW 23 St Vacant lot sale	Oct 2023	$400K	7,225 sf	$55	192 m
1871 SW 22 St Vacant lot sale	Oct 2024	$275K	5,457 sf	$50	206 m
1711 SW 23 St Vacant lot sale	Nov 2021	$200K	5,669 sf	$35	345 m
2000 SW 18 Ave Bought for a new home · Blue Sky Design	Apr 2022	$285K	5,932 sf	$48	402 m
1668 SW 24 St #1-2 Bought for a new home · Lifestyle Construction Group	Jul 2022	$300K	6,684 sf	$45	424 m
1831 SW 30 St Vacant lot sale	Sep 2022	$132K	7,589 sf	$17	654 m
2711 SW 15 Ave Vacant lot sale	Dec 2021	$240K	6,200 sf	$39	729 m
1779 SW 30 Pl Bought for a new home · Master Construction	Aug 2024	$1.8M	22,708 sf	$79	747 m

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New homes in River Oaks

RisingWaterfront

Broward Co. 2026 · 26.1035° N 80.1539° W

909 Guava Isle

River OaksKedeco Enterprises

Likely price$3.1–4.35M

RisingWaterfront

Broward Co. 2026 · 26.1047° N 80.1594° W

1334 Mango Isle

River OaksJar Construction

Likely price$6.25–8.75M

All new homes in River Oaks →

Record

Parcel folio: 504216000231
Assessed land value: $466K
Typical build here: 24.4 months permit to certificate of occupancy, homes off the water, Fort Lauderdale

Report a correction · Estimates are not appraisals.