1650 SW 124th Ter Unit 403D · Pembroke Pines, FL 33027

$168,999

2 bd · 2.0 ba · 1,032 sqft · Condo public records · 161 Days on market

Built 1995 $404/mo HOA · 17% 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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• 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

2 bedroom 1.5 Bath in Falmouth D Condominium at Century Village (55+). Lots of amenities & security. Washer & Dryer in Unit. Clean, bright & ready to move in. Unit can be rented immediately. Balcony with garden view. Easy approval process. Total monthly fees are: $689 per month ($404+285). Falmouth condo fee is $404 per month plus Master CVP $285 per month.

Key facts

• Lots of amenities
• Security
• $404 HOA

Tags

• WASHER AND DRYER IN UNIT
• BALCONY WITH GARDEN VIEW
• LOTS OF AMENITIES
• SECURITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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+, crime 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.
• 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); Charles W Flanagan High School (math 29% / reading 50%, grade F, #304 of 667 statewide, top 47%, 2,475 students, 57% FRL).
• Market conditions: Rents soft (-0.2%/yr); 549 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 36% 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 $3k 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 161 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $169k implies a 191% 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; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,719 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 6.1

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-107
• Equity at exit: $32,725

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $15,196
• Equity at exit: $27,874

Cash invested: $47,320 (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: 549
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,324 high
• Mortgage (P&I): −$886
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$70
• HOA: −$404
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $421

Break-even live

Break-even rent $1,791

Max offer price $168,999

Occupancy floor 77%

Sensitivity live

Price	-10% $517	-5% $469	+0% $421	+5% $373	+10% $326
Rent	-10% $238	-5% $329	+0% $421	+5% $513	+10% $605
Rate	-1.0pp $506	-0.5pp $464	base $421	+0.5pp $377	+1.0pp $333

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1650 SW 124th Ter Unit D403 Pembroke Pines, FL	2.0	1.5	1032	$1,950	$1.89	5d	1	0.03mi
1650 SW 124th Ter Unit D403 Pembroke Pines, FL	2.0	1.5	1032	$1,950	$1.89	22d	1	0.03mi
12651 SW 16th Ct Unit B304 Pembroke Pines, FL	2.0	1.5	1032	$2,200	$2.13	12d	1	0.11mi
12651 SW 16th Ct Unit B304 Pembroke Pines, FL	2.0	1.5	1032	$2,200	$2.13	26d	1	0.11mi
12501 SW 14th St Unit 315R Pembroke Pines, FL	2.0	2.0	1190	$2,200	$1.85	16d	1	0.11mi
12650 SW 15th St Unit F304 Pembroke Pines, FL	2.0	1.5	1032	$1,900	$1.84	26d	1	0.12mi
12501 SW 14th St Pembroke Pines, FL	2.0	2.0	1145	$2,275	$1.99	26d	2	0.12mi
12501 SW 14th St Pembroke Pines, FL	2.0	2.0	1145	$2,100	$1.83	0d	2	0.12mi
12501 SW 14th St Pembroke Pines, FL	2.0	2.0	1145	$2,100	$1.83	15d	2	0.12mi
1400 SW 124th Ter Unit 302Q Pembroke Pines, FL	2.0	2.0	1100	$2,000	$1.82	23d	1	0.13mi
1651 SW 127th Ave Apt 305A Pembroke Pines, FL	2.0	2.0	1207	$2,650	$2.20	26d	1	0.16mi
1351 SW 125th Ave Unit 108S Pembroke Pines, FL	2.0	2.0	1100	$2,300	$2.09	23d	1	0.16mi
1300 SW 125th Ave Pembroke Pines, FL	1.0–2.0	1.5–2.0	1198	$2,500	$2.09	6d	2	0.18mi
12601 SW 13th St Unit 303G Pembroke Pines, FL	2.0	2.0	1192	$2,150	$1.80	26d	1	0.19mi
12154 Saint Andrews Pl #110 Miramar, FL	2.0	2.5	1100	$2,490	$2.26	9d	1	0.20mi
1300 SW 125th Ave Unit 311K Pembroke Pines, FL	2.0	2.0	1351	$2,500	$1.85	26d	1	0.20mi
12148 Saint Andrews Pl #107 Miramar, FL	2.0	2.0	983	$2,350	$2.39	26d	1	0.24mi
12701 SW 13th St Unit 202F Pembroke Pines, FL	2.0	2.0	1100	$1,900	$1.73	9d	1	0.26mi
12701 SW 13th St Unit 202F Pembroke Pines, FL	2.0	2.0	1100	$2,000	$1.82	26d	1	0.26mi
1200 SW 125th Ave Unit 208L Pembroke Pines, FL	1.0	1.5	1065	$1,500	$1.41	0d	1	0.27mi
1200 SW 125th Ave Unit 208L Pembroke Pines, FL	1.0	1.5	1065	$1,500	$1.41	26d	1	0.27mi
2091 Renaissance Blvd #207 Miramar, FL	2.0	1.0	830	$2,100	$2.53	26d	1	0.27mi
12142 Saint Andrews Pl #107 Miramar, FL	3.0	2.0	1080	$2,900	$2.69	6d	1	0.27mi
12142 Saint Andrews Pl #107 Miramar, FL	3.0	2.0	1080	$2,900	$2.69	12d	1	0.27mi
2081 Renaissance Blvd #205 Miramar, FL	2.0	2.0	966	$2,500	$2.59	9d	1	0.30mi
1401 SW 128th Ter Unit H309 Pembroke Pines, FL	2.0	2.0	1100	$2,200	$2.00	13d	1	0.31mi
1110 SW 125th Ave Pembroke Pines, FL	1.0–2.0	1.5–2.0	1276	$2,300	$1.80	26d	2	0.33mi
2071 Renaissance Blvd Miramar, FL	2.0	2.0	966	$2,350	$2.43	15d	2	0.33mi
2071 Renaissance Blvd Miramar, FL	2.0	2.0	966	$2,350	$2.43	5d	2	0.33mi
2061 Renaissance Blvd #107 Miramar, FL	1.0	1.0	700	$1,925	$2.75	9d	1	0.34mi
12106 Saint Andrews Pl #306 Miramar, FL	2.0	1.0	817	$2,000	$2.45	26d	1	0.36mi
12112 Saint Andrews Pl #205 Miramar, FL	2.0	1.0	817	$2,100	$2.57	22d	1	0.37mi
2051 Renaissance Blvd #206 Miramar, FL	3.0	2.0	1125	$2,700	$2.40	22d	1	0.38mi
2051 Renaissance Blvd Miramar, FL	1.0–3.0	1.0–2.0	895	$2,225	$2.49	9d	2	0.38mi
11801 Pembroke Rd Pembroke Pines, FL	1.0–2.0	1.0–2.0	919	$2,546	$2.77	0d	109	0.38mi
12124 Saint Andrews Pl #110 Miramar, FL	2.0	2.0	983	$2,300	$2.34	23d	1	0.38mi
12118 Saint Andrews Pl Miramar, FL	1.0–2.0	1.0–2.0	841	$2,500	$2.97	5d	3	0.39mi
12118 Saint Andrews Pl Miramar, FL	2.0	2.0	983	$2,400	$2.44	4d	2	0.39mi
2123 Renaissance Blvd Miramar, FL	3.0	2.0	1125	$3,400	$3.02	26d	1	0.41mi
2123 Renaissance Blvd #201 Miramar, FL	1.0	1.0	700	$2,100	$3.00	7d	1	0.41mi

HOA detail condo

• Monthly dues: $404 · $4,848/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-04-16
   status Pending
2. 2026-02-04
   price $168,999
3. 2025-11-06
   listed $169,999 Active
4. 1996-06-27
   soldstatus $58,000
5. 1996-06-01
   soldstatus $58,000
6. 1995-12-01
   soldstatus $66,200

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$756/yr (+$63/mo · 117.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 29 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: $27,884
• − Mortgage interest: −$9,467
• − Property taxes: −$646
• − Insurance: −$845
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − HOA: −$4,848
• − Depreciation: −$4,916
• Taxable income: $2,701
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $4,406/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

+155.3% since first listed

6 events — show timeline

• 2026-04-16 Pending — MARMLS
• 2026-02-04 Price Changed $168,999 MARMLS
• 2025-11-06 Listed $169,999 MARMLS
• 1996-06-27 Sold (Public Records) $58,000 Public Records
• 1996-06-01 Sold (Public Records) $58,000 Public Records
• 1995-12-01 Sold (Public Records) $66,200 Public Records

Property tax history

+3.0%/yr

Latest (2025): $646 · +2.0% YoY. Source: county tax records.