10777 W Sample Rd #207

Coral Springs, FL 33065

$174,900C-

2 bd · 2.0 ba · 1,350 sqft · Built 1976 · Condo · Active · 361 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,343/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$146
• HOA: −$655
• Vac / Maint / Mgmt: −$492
• Net cashflow: $133/mo
• Annual: $1,596/yr
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• 1% rule: 1.34%
• Cash to close: $48,972

Investor read

• This is a 2-bed/2.0-bath condo listed at $175k.
• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 361 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#145 in FL, #2,163 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, cost of living 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: Coral Springs Elementary School (math 25% / reading 31%, grade F, #1,951 of 2,144 statewide, top 91%, 466 students, 85% FRL); Coral Springs Middle School (math 46% / reading 53%, grade C, #259 of 571 statewide, top 46%, 1,003 students, 54% FRL); Coral Glades High School (math 24% / reading 46%, grade F, #379 of 667 statewide, top 58%, 2,762 students, 58% FRL).
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents soft (-0.0%/yr); 365 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $73k; list at $175k implies a 140% gain — meaningful room to come down on a strong offer.
• Cap rate 7.2% vs local median 3.6% in Coral Springs — 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 38% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 361 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.