1401 SW 134th Way Unit 402C · Pembroke Pines, FL 33027

$199,000

2 bd · 2.0 ba · 1,040 sqft · Condo public records · 16 Days on market

Built 1985 $293/mo HOA · 13% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Appreciation +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

The most beautiful 2BD/2BA next to end unit condo on 4th floor, breath taking view of lake and clubhouse pool, balcony with sliding glass door and french door to bedrooms, grand kitchen, gorgeous bathrooms, pictures speak for themselves. , lucky one gets this one.

Key facts

• Grand kitchen
• Gorgeous bathrooms
• Clubhouse pool

Tags

• VIEW OF LAKE
• CLUBHOUSE POOL
• FRENCH DOOR TO BEDROOMS
• GRAND KITCHEN
• GORGEOUS BATHROOMS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers common areas, insurance, structure maintenance, sewer, trash, and water; Community amenities include billiard room, elevators, fitness center

Exterior

• Parking: Assigned parking
• Security: On-site security guard; Smoke detectors
• Utilities: Electric service; Central cooling; Electric heating
• Home design: Condo/Apartment (unit in multi-story building); 4 total stories; Entry on level 4
• Construction: Block construction; Effective year built
• Exterior features: Balcony (open); Has view; Property attached

Interior

• Kitchen: Dishwasher; Electric range; Self-cleaning oven; Microwave; Refrigerator; Garbage disposal
• Bedrooms: Total rooms: 4
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: First-floor entry; Elevator; Other interior features
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.0% in Pembroke Pines — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#54 in FL, #933 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, schools A-; Watch: amenities D+, cost of living D+.
• Broward (suburban): math 42% / reading 53% proficiency, ranked #46 of 73 in FL (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.2%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 35% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; list at $199k implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.01% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-13,530
• Equity at exit: $38,534

10-year hold

• IRR: -1.9%
• Equity multiple: 0.86×
• Total profit: $-7,534
• Equity at exit: $32,822

Cash invested: $55,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33027

• Home prices YoY: -0.6%
• Rents YoY: -0.2%
• Active inventory: 543
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,232 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$83
• HOA: −$293
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $264

Break-even live

Break-even rent $1,898

Max offer price $199,000

Occupancy floor 83%

Sensitivity live

Price	-10% $377	-5% $320	+0% $264	+5% $208	+10% $151
Rent	-10% $88	-5% $176	+0% $264	+5% $352	+10% $440
Rate	-1.0pp $364	-0.5pp $315	base $264	+0.5pp $212	+1.0pp $160

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 SW 134th Way Unit C314 Pembroke Pines, FL	2.0	2.0	1044	$2,700	$2.59	24d	1	0.03mi
1501 SW 134th Way Unit D304 Pembroke Pines, FL	2.0	2.0	1192	$2,395	$2.01	24d	1	0.05mi
1551 SW 135th Ter Pembroke Pines, FL	1.0–2.0	1.5	752	$1,900	$2.53	14d	2	0.09mi
13455 SW 16th Ct Unit 306-F Pembroke Pines, FL	2.0	1.5	936	$2,000	$2.14	19d	1	0.10mi
13701 SW 12th St Apt 103A Pembroke Pines, FL	2.0	2.0	1207	$2,500	$2.07	3d	1	0.25mi
13455 SW 9th Ct Pembroke Pines, FL	1.0	1.5	811	$1,685	$2.08	22d	2	0.32mi
13055 SW 15th Ct Pembroke Pines, FL	1.0–2.0	1.5–2.0	1011	$2,000	$1.98	24d	2	0.33mi
13055 SW 15th Ct Pembroke Pines, FL	1.0–2.0	1.5–2.0	1011	$2,000	$1.98	5d	2	0.33mi
13355 SW 9th Ct Unit 317H Pembroke Pines, FL	2.0	2.0	1044	$1,975	$1.89	5d	1	0.35mi
1351 SW 141st Ave Unit 213G Pembroke Pines, FL	2.0	2.0	1207	$1,800	$1.49	18d	1	0.37mi
13255 SW 9th Ct Unit 402G Pembroke Pines, FL	2.0	2.0	1044	$1,800	$1.72	24d	1	0.39mi
801 SW 133rd Ter Unit 401K Pembroke Pines, FL	1.0	1.0	960	$1,850	$1.93	24d	1	0.39mi
850 SW 133rd Ter Pembroke Pines, FL	2.0	1.5	953	$1,938	$2.03	1d	2	0.39mi
850 SW 133rd Ter Pembroke Pines, FL	2.0	1.5	953	$1,938	$2.03	21d	2	0.39mi
850 SW 133rd Ter Unit 106B Pembroke Pines, FL	2.0	1.5	953	$1,975	$2.07	22d	1	0.39mi
850 SW 133rd Ter Unit B406 Pembroke Pines, FL	2.0	1.5	953	$1,900	$1.99	24d	1	0.39mi
13255 SW 9th Ct Unit 202G Pembroke Pines, FL	2.0	2.0	1044	$1,790	$1.71	18d	1	0.39mi
1001 SW 141st Ave Unit 311K Pembroke Pines, FL	1.0	1.5	1056	$1,900	$1.80	4d	1	0.44mi
800 SW 131st Ave Unit 311F Pembroke Pines, FL	1.0	1.5	811	$1,800	$2.22	24d	1	0.45mi
13250 SW 7th Ct Unit 402L Pembroke Pines, FL	2.0	2.0	1044	$1,750	$1.68	15d	1	0.45mi
13250 SW 7th Ct Unit 402L Pembroke Pines, FL	2.0	2.0	1044	$1,750	$1.68	2d	1	0.45mi
1300 SW 130th Ave Pembroke Pines, FL	1.0–2.0	1.0–2.0	885	$1,975	$2.23	24d	2	0.47mi
900 SW 142nd Ave Pembroke Pines, FL	2.0	2.0	1207	$2,200	$1.82	2d	2	0.48mi
900 SW 142nd Ave Unit 202L Pembroke Pines, FL	2.0	2.0	1207	$2,300	$1.91	8d	1	0.49mi
850 SW 138th Ave Pembroke Pines, FL	1.0–2.0	1.5–2.0	1120	$2,250	$2.01	22d	2	0.49mi
13255 SW 7th Ct Unit 305D Pembroke Pines, FL	2.0	1.5	953	$1,850	$1.94	24d	1	0.49mi
13255 SW 7th Ct Unit 406D Pembroke Pines, FL	2.0	1.5	953	$1,850	$1.94	8d	1	0.49mi
301 SW 135th Ave Unit 415C Pembroke Pines, FL	1.0	1.5	811	$1,650	$2.03	22d	1	0.49mi
13155 SW 7th Ct Unit 402E Pembroke Pines, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.51mi
1401 SW 128th Ter Unit H309 Pembroke Pines, FL	2.0	2.0	1100	$2,200	$2.00	12d	1	0.54mi
1151 SW 128th Ter Unit 210D Pembroke Pines, FL	2.0	2.0	1192	$2,200	$1.85	24d	1	0.54mi
551 SW 135th Ave Unit 405B Pembroke Pines, FL	2.0	1.5	953	$1,700	$1.78	24d	1	0.56mi
701 SW 141st Ave Unit 110R Pembroke Pines, FL	2.0	1.5	1032	$2,200	$2.13	8d	1	0.57mi
701 SW 141st Ave Unit 110R Pembroke Pines, FL	2.0	1.5	1032	$2,200	$2.13	24d	1	0.57mi
701 SW 141st Ave Unit 405R Pembroke Pines, FL	2.0	1.5	1032	$2,000	$1.94	24d	1	0.57mi
1062 SW 143rd Ave Pembroke Pines, FL	3.0	2.5	1425	$3,000	$2.11	24d	1	0.60mi
12701 SW 13th St Unit 202F Pembroke Pines, FL	2.0	2.0	1100	$2,000	$1.82	24d	1	0.61mi
12701 SW 13th St Unit 202F Pembroke Pines, FL	2.0	2.0	1100	$1,900	$1.73	8d	1	0.61mi
915 SW 143rd Ave #2008 Pembroke Pines, FL	2.0	2.5	1100	$2,400	$2.18	3d	1	0.63mi
962 SW 143rd Ave #2207 Pembroke Pines, FL	3.0	2.5	1390	$3,000	$2.16	24d	1	0.63mi

HOA detail condo

• Monthly dues: $293 · $3,516/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $199,000 Active 16 DOM
2. 2026-06-17
   days on market $199,000 Active 15 DOM
3. 2026-06-16
   days on market $199,000 Active 14 DOM
4. 2026-06-15
   days on market $199,000 Active 13 DOM
5. 2026-06-13
   days on market $199,000 Active 11 DOM
6. 2026-06-09
   days on market $199,000 Active 7 DOM
7. 2026-06-08
   days on market $199,000 Active 6 DOM
8. 2026-06-07
   days on market $199,000 Active 5 DOM
9. 2026-06-04
   days on market $199,000 Active 2 DOM
10. 2026-06-02
    remarks 264-char remark
11. 2026-06-02
    listed $199,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $955 · $80/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$697/yr (+$58/mo · 73.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,781
• − Mortgage interest: −$11,147
• − Property taxes: −$955
• − Insurance: −$995
• − Repairs & maintenance: −$2,142
• − Management: −$2,142
• − HOA: −$3,516
• − Depreciation: −$5,789
• Taxable income: $94
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $3,146/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Broward
• NCES district ID: 1200180
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $52,139
• Composite: 40.88/100
• National rank: #3621
• State rank: #46 of 73 in FL

Livability — Pembroke Pines

• Score: 83/100
• State rank: #54
• US rank: #933

Category grades

Amenities D+ Commute A- Cost of living D+ Crime A- Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pembroke Pines, FL
• County: Broward County · 1,963,430 people
• City population: 180,224
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,116
• Household income: $76,561
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 1728.0

Population outlook (Broward County) Hauer SSP2

• Today (2025): 2,207,033 people
• By 2030: 2,360,704 · +7.0%
• By 2040: 2,661,208 · +20.6%
• By 2050: 2,946,698 · +33.5%
• By 2075: 3,602,273 · +63.2%
• By 2100: 3,970,984 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 23% Black 22% White 16% Asian 6%
• Hispanic origin (detail): Puerto Rican 6% Cuban 19% Dominican 3%
• Common ancestry: Hispanic 6% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, Jamaica, Vietnam
• Languages at home: 40% English-only · Spanish 47% French/Haitian/Cajun 5% Other Indo-European 2%

Political lean MEDSL · Broward

• 2024 margin: D (+17.0) · D 58.0% · R 41.0%
• 2008→2024 swing: -17.8pp toward R · 2008: 34.7pp · 2024: 17.0pp
• All cycles: 2024: D+17.0 2020: D+29.8 2016: D+35.0 2012: D+34.9 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.01%
• Current HPI: 359.5973
• Rent YoY: ▼ -0.20%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+276.2% since first listed

7 events — show timeline

• 2026-06-02 Listed $199,000 MARMLS
• 2026-03-02 Listing Removed — MARMLS
• 2025-09-02 Listed $215,000 MARMLS
• 2013-05-30 Listing Removed — MARMLS
• 2011-03-29 Sold (Public Records) $45,000 Public Records
• 2011-03-25 Sold (MLS) $45,000 Beaches MLS
• 2011-02-15 Listed $52,900 Beaches MLS

Property tax history

-1.3%/yr

Latest (2025): $955 · +1.2% YoY. Source: county tax records.