6309 Hayes St

Hollywood, FL 33024

$415,900F

2 bd · 1.0 ba · 1,749 sqft · Built 1955 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,595/mo
• Mortgage (P&I): −$2,181
• Tax + insurance: −$504
• HOA: −$0
• Vac / Maint / Mgmt: −$545
• Net cashflow: $-635/mo
• Annual: $-7,619/yr
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• 1% rule: 0.62%
• Cash to close: $116,452

Investor read

• This is a 2-bed/1.0-bath single-family listed at $416k.
• At list price, monthly cash flow is $-635 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (37.6% below list).
• It's been on market 102 days — a 9% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (37.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#232 in FL, #3,548 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime B+; Watch: amenities 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.
• Zoned schools: West Hollywood Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 471 students, 76% FRL); Apollo Middle School (math 35% / reading 47%, grade F, #353 of 571 statewide, top 63%, 1,168 students, 71% FRL); Mcarthur High School (math 18% / reading 39%, grade F, #458 of 667 statewide, top 69%, 2,050 students, 67% FRL) — zoned schools average 71% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 48% district-wide (-15 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.0%/yr); 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $56k; list at $416k implies a 643% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.5% vs local median 3.2% in Hollywood — 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.
• This rent runs 39% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.