2 bd · 2.0 ba ·
960 sqft ·
Built 1973
· Condo
· Active
· 93 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,722/mo
Mortgage (P&I)
−$577
Tax + insurance
−$304
HOA
−$550
Vac / Maint / Mgmt
−$362
Net cashflow
$-70/mo
Annual
$-841/yr
Cap rate
5.53%
Cash-on-cash
-2.73%
DSCR
0.88
1% rule
1.57%
Cash to close
$30,799
Investor read
This is a 2-bed/2.0-bath condo listed at $110k.
At list price, monthly cash flow is $-70 ($-841/yr) — negative.
To cash-flow at today's rent, offer at most $98k (11.3% below list).
Meets the 1% rule at list price ($2k rent vs $110k).
It's been on market 93 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $98k (11.3% below list) — sets the bar for cash-flow.
Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
Location reads 81/100 on livability (#100 in FL, #1,527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment F.
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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
Watch-outs: property tax is 2.8% of price; HOA is 32% of rent.
Market conditions: Rents flat; 664 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $26k; list at $110k implies a 331% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
This rent runs 45% of the median local income ($46k/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 93 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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?
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.
CashFlowRE · CFR-2AGK2VFPERNYE7
· Data 2 weeks agocashflowre.app · 2026-05-29