21651 NW 3rd St · Pembroke Pines, FL 33029

$268,500

2 bd · 2.0 ba · 1,300 sqft · Manufactured public records · 150 Days on market

Built 2010 3,600 sqft lot Est $312k · 14% under $103/mo HOA · 3% of rent

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Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +13.8/15.0
• DSCR +8.1/10.0
• 1% rule +7.3/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

EXCEPTIONAL MOBILE HOME IN EXCEPTIONAL CONDITION. PRICED TO SELL. CURRENT OWNER BUILT IT IN 2010. MANY UPGRADES THROUGHOUT - LARGE LIVING AREA. BEAUTIFUL KITCHEN. FULL SIZE WASHER AND DRYER / LAUNDRY AREA. HUGE PRIMARY BEDROOM WITH MASSIVE CLOSET WITH BOTH A SHOWER AND A JACUZZI TUB. YOU OWN THE LAND HERE, NO LOT RENT FEES! LOW HOA PAYMENT OF ONLY $103 PER MONTH. THE PARK IS IN GREAT CONDITION OVERALL WITH MANY RENOVATIONS OVER THE PAST FEW YEARS. THE HOME HAS THE BIGGEST FOOTPRINT YOU CAN GET - DOUBLE WIDE. PLUS THERE IS A NICE BACK AND SIDE YARD WITH PRIVACY. THE PARK HAS MANY AMENITIES. NO RENT RESTRICTIONS - RENT RIGHT AWAY. NO AGE RESTRICTIONS - ALL AGES ALLOWED. INVESTOR FRIENDLY. ALL

Key facts

• Upgrades
• Large living area
• Massive closet

Tags

• UPGRADES
• LARGE LIVING AREA
• FULL SIZE WASHER AND DRYER
• HUGE PRIMARY BEDROOM
• MASSIVE CLOSET
• JACUZZI TUB

Property features AI

Finance

• Other: Pets allowed with restrictions
• HOA & community: Monthly association fee of $103; Clubhouse; Maintained community; On-site property manager; Community pool

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Single-story; Faces south; Tie-down foundation
• Construction: Manufactured construction; Roof over
• Exterior features: Fenced yard; Patio; Community pool

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Split bedrooms; Walk-in closet(s)
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $268k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• Recommended offer: $236k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (-1.2%/yr); 240 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 150 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $31k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $268k implies a 763% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $312,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21661 NW 8th Ct	0.32mi	3/2.0 (+1)	1,248 (-4%)	4mo	$299,000	$240	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-16,599
• Equity at exit: $40,034

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-4,379
• Equity at exit: $23,215

Cash invested: $75,180 (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 33029

• Home prices YoY: -18.3%
• Rents YoY: -1.2%
• Active inventory: 240
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,316 high
• Mortgage (P&I): −$1,408
• Tax from tax record: −$424 /mo · $5,088/yr
• Insurance: −$112
• HOA: −$103
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $572

Break-even live

Break-even rent $2,591

Max offer price $268,500

Occupancy floor 78%

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: $67,125
• Closing costs: $8,055
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	24d	1	0.13mi
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	4d	1	0.13mi
20975 NW 1st Ct Pembroke Pines, FL	3.0	2.5	1692	$3,600	$2.13	24d	1	0.37mi
20957 NW 1st Ct Unit 20957 Pembroke Pines, FL	3.0	2.5	1749	$2,900	$1.66	24d	1	0.38mi
20930 NW 1st St Pembroke Pines, FL	3.0	3.0	1617	$3,600	$2.23	7d	1	0.46mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	12d	1	0.47mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	24d	1	0.47mi
20908 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,500	$2.07	24d	1	0.48mi
20901 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,300	$1.95	24d	1	0.48mi
20901 NW 1st Dr Unit 1 Pembroke Pines, FL	3.0	2.5	1692	$3,200	$1.89	24d	1	0.48mi
20875 NW 4th St Pembroke Pines, FL	2.0	2.5	1361	$2,500	$1.84	24d	1	0.51mi
20861 NW 4th St Pembroke Pines, FL	3.0	2.5	1361	$4,000	$2.94	24d	1	0.54mi
20841 NW 1st St Pembroke Pines, FL	3.0	2.0	1225	$3,500	$2.86	24d	1	0.59mi
20807 NW 1st St #20807 Pembroke Pines, FL	2.0	2.5	1361	$2,650	$1.95	16d	1	0.67mi
210 NW 207th Way Pembroke Pines, FL	3.0	2.0	1620	$3,450	$2.13	3d	1	0.71mi
20541 SW 2nd St Pembroke Pines, FL	3.0	3.0	1694	$5,500	$3.25	1d	1	0.96mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	12d	1	0.98mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	16d	1	0.98mi

HOA detail

• Monthly dues: $103 · $1,236/yr

Listing history 23 events

1. 2026-06-01
   days on market $268,500 Active 150 DOM
2. 2026-05-31
   days on market $268,500 Active 149 DOM
3. 2026-05-29
   status Active
4. 2026-04-29
   status Active
5. 2026-03-31
   status Active
6. 2026-02-16
   status Pending
7. 2026-02-10
   historical Active Under Contract
8. 2026-02-09
   price $268,500
9. 2026-02-06
   price $270,000
10. 2026-02-03
    price $272,500
11. 2026-02-03
    status Active
12. 2026-01-09
    price $275,000
13. 2025-11-12
    price $295,000
14. 2025-10-20
    price $299,000
15. 2025-09-21
    price $330,000
16. 2025-09-16
    listed $299,900 Active
17. 2003-12-22
    soldstatus $31,100
18. 2002-05-30
    soldstatus $46,000
19. 2002-03-29
    historical
20. 2001-12-19
    listed $49,900
21. 2000-11-20
    soldstatus $47,000
22. 1988-11-29
    soldstatus $34,900
23. 1988-10-01
    soldstatus $32,500

ⓘ 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: $5,088 · $424/mo
• Projected year-2 tax: $5,088 · $424/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,788
• − Mortgage interest: −$15,040
• − Property taxes: −$5,088
• − Insurance: −$1,342
• − Repairs & maintenance: −$3,183
• − Management: −$3,183
• − HOA: −$1,236
• − Depreciation: −$7,811
• Taxable income: $2,904
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $6,172/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): 44,070
• Household income: $146,237
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 307.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 43% Two or more races 29% White 27% Black 20% Asian 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 14% Dominican 3%
• Common ancestry: Hispanic 2% Russian 1% Estonian 1%
• Foreign-born: 33% · Canada, Jamaica, China
• Languages at home: 53% English-only · Spanish 38% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -83.68%
• Current HPI: 373.7752
• Rent YoY: ▼ -1.17%
• 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

+726.2% since first listed

21 events — show timeline

• 2026-05-29 Relisted — MARMLS
• 2026-04-29 Relisted — MARMLS
• 2026-03-31 Relisted — MARMLS
• 2026-02-16 Pending — MARMLS
• 2026-02-10 Contingent — MARMLS
• 2026-02-09 Price Changed $268,500 MARMLS
• 2026-02-06 Price Changed $270,000 MARMLS
• 2026-02-03 Price Changed $272,500 MARMLS
• 2026-02-03 Relisted — MARMLS
• 2026-01-09 Price Changed $275,000 MARMLS
• 2025-11-12 Price Changed $295,000 MARMLS
• 2025-10-20 Price Changed $299,000 MARMLS
• 2025-09-21 Price Changed $330,000 MARMLS
• 2025-09-16 Listed $299,900 MARMLS
• 2003-12-22 Sold (Public Records) $31,100 Public Records
• 2002-05-30 Sold (Public Records) $46,000 Public Records
• 2002-03-29 Listing Removed — Beaches MLS
• 2001-12-19 Listed $49,900 Beaches MLS
• 2000-11-20 Sold (Public Records) $47,000 Public Records
• 1988-11-29 Sold (Public Records) $34,900 Public Records
• 1988-10-01 Sold (Public Records) $32,500 Public Records

Property tax history

+13.6%/yr

Latest (2025): $5,088 · +495.0% YoY. Source: county tax records.