7280 S Devon Dr #208 · Tamarac, FL 33321

$120,000

2 bd · 2.0 ba · 1,238 sqft · Condo public records · 60 Days on market

Built 1990 $585/mo HOA · 27% 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in desirable Kings Point, this spacious residence is situated in a well-maintained 55+ community and offers a comfortable, open layout. Conveniently positioned near the elevator, entry gate, and pool, this unit provides easy access to all community amenities. Includes one assigned parking space. Property must be sold to settle an estate — Seller is motivated and all offers will be considered. Enjoy resort-style living with clubhouse, pools, fitness center, social activities, and more.

Key facts

• Fitness center
• Clubhouse
• Open layout

Tags

• OPEN LAYOUT
• ASSIGNED PARKING SPACE
• CLUBHOUSE
• FITNESS CENTER
• SOCIAL ACTIVITIES

Property features AI

Finance

• HOA & community: Community for seniors; Monthly HOA with amenities: fitness center, pool, shuffleboard court, bike storage, courtesy bus; HOA includes insurance, grounds and structure maintenance, sewer, trash, water, common areas, elevator, roof repairs, recreation facilities, and pool service

Exterior

• Parking: Assigned parking; Guest parking
• Security: Key card entry; Phone/intercom entry
• Utilities: Cable available
• Home design: Condominium; Resale unit; Building A in a 5-story building; Northwest facing
• Construction: CBS construction
• Exterior features: Waterfront property; No waterfront improvements noted

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Refrigerator
• Bedrooms: Bedrooms located above main level
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); Partially furnished; Blinds and sliding window treatments
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.9% in Tamarac — 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 76/100 on livability (#239 in FL, #3,785 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute 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: Challenger Elementary School (math 37% / reading 53%, grade D-, #1,271 of 2,144 statewide, top 60%, 909 students, 62% FRL); J. P. Taravella High School (math 19% / reading 45%, grade F, #415 of 667 statewide, top 63%, 2,586 students, 54% FRL).
• Market conditions: Rents soft (-1.9%/yr); 588 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 42% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 60 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.80% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.6%
• Equity multiple: 0.91×
• Total profit: $-3,139
• Equity at exit: $17,892

10-year hold

• IRR: 1.5%
• Equity multiple: 1.09×
• Total profit: $2,937
• Equity at exit: $10,375

Cash invested: $33,600 (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 33321

• Home prices YoY: -30.4%
• Rents YoY: -1.9%
• Active inventory: 588
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,161 high
• Mortgage (P&I): −$629
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$50
• HOA: −$585
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $350

Break-even live

Break-even rent $1,718

Max offer price $120,000

Occupancy floor 79%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7214 S Devon Dr #211 Tamarac, FL	2.0	2.0	1292	$2,400	$1.86	24d	1	0.09mi
7271 S Devon Dr #101 Tamarac, FL	2.0	2.0	1187	$2,200	$1.85	22d	1	0.09mi
10959 W Clairmont Cir #211 Tamarac, FL	2.0	2.0	1163	$2,100	$1.81	24d	1	0.24mi
10425 E Clairmont Cir #107 Tamarac, FL	2.0	2.0	827	$1,850	$2.24	24d	1	0.34mi
10419 E Clairmont Cir #205 Tamarac, FL	2.0	2.0	827	$2,000	$2.42	8d	1	0.34mi
10419 E Clairmont Cir #205 Tamarac, FL	2.0	2.0	827	$2,000	$2.42	24d	1	0.34mi
10426 E Clairmont Cir #212 Tamarac, FL	2.0	2.0	1294	$2,100	$1.62	24d	1	0.35mi
10350 E Clairmont Cir #312 Tamarac, FL	2.0	2.0	1294	$2,300	$1.78	24d	1	0.38mi
7737 Trent Dr #204 Tamarac, FL	2.0	2.0	1080	$2,000	$1.85	21d	1	0.42mi
7878 Trent Dr #308 Tamarac, FL	2.0	2.0	1215	$2,300	$1.89	24d	1	0.47mi
7878 Trent Dr #308 Tamarac, FL	2.0	2.0	1215	$2,000	$1.65	13d	1	0.47mi
9978 N Belfort Cir #206 Fort Lauderdale, FL	1.0	2.0	827	$2,400	$2.90	24d	1	0.55mi
9909 Westwood Dr Unit 23-1 Tamarac, FL	2.0	1.0	939	$1,880	$2.00	24d	1	0.66mi
9909 Westwood Dr Unit 23-1 Tamarac, FL	2.0	1.0	939	$1,870	$1.99	5d	1	0.66mi
9907 Westwood Dr Unit 24-2 Tamarac, FL	2.0	1.0	939	$2,000	$2.13	24d	1	0.68mi
7940 N Nob Hill Rd #108 Tamarac, FL	2.0	2.0	981	$2,150	$2.19	24d	1	0.72mi
8000 N Nob Hill Rd #206 Tamarac, FL	2.0	2.0	981	$2,000	$2.04	5d	1	0.72mi
8000 N Nob Hill Rd #106 Tamarac, FL	2.0	2.0	981	$2,000	$2.04	4d	1	0.72mi
8000 N Nob Hill Rd #206 Tamarac, FL	2.0	2.0	981	$2,190	$2.23	8d	1	0.72mi
7950 N Nob Hill Rd #203 Tamarac, FL	3.0	2.0	981	$2,700	$2.75	24d	1	0.73mi
7970 N Nob Hill Rd Tamarac, FL	1.0–3.0	1.0–2.0	1137	$2,195	$1.93	21d	2	0.74mi
7970 N Nob Hill Rd Tamarac, FL	3.0	2.0	1137	$2,475	$2.18	24d	2	0.74mi
7755 Yardley Dr #112 Fort Lauderdale, FL	2.0	2.0	1229	$2,400	$1.95	24d	1	0.75mi
8020 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	981	$2,180	$2.22	15d	3	0.78mi
8030 N Nob Hill Rd #105 Tamarac, FL	2.0	2.0	981	$2,100	$2.14	24d	1	0.78mi
8320 Santa Monica Ave Unit 8320 Tamarac, FL	3.0	2.5	1428	$2,900	$2.03	5d	1	0.78mi
7980 N Nob Hill Rd #205 Tamarac, FL	2.0	2.0	981	$2,050	$2.09	24d	1	0.78mi
7980 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	836	$2,050	$2.45	17d	2	0.78mi
7765 Yardley Dr #107 Fort Lauderdale, FL	2.0	2.0	1469	$2,200	$1.50	13d	1	0.79mi
10000 S Nob Hill Cir #10163 Tamarac, FL	2.0	1.0	900	$1,767	$1.96	3d	1	0.81mi
8060 N Nob Hill Rd #203 Tamarac, FL	2.0	2.0	981	$2,200	$2.24	24d	1	0.82mi
9485 N Belfort Cir #308 Tamarac, FL	2.0	2.0	1228	$2,100	$1.71	14d	1	0.83mi
8070 N Nob Hill Rd #205 Tamarac, FL	2.0	2.0	981	$1,990	$2.03	24d	1	0.83mi
9511 Weldon Cir Unit 412 Tamarac, FL	2.0	2.0	1080	$1,875	$1.74	8d	1	0.88mi
9511 Weldon Cir Tamarac, FL	2.0	2.0	1116	$1,850	$1.66	24d	2	0.89mi
8090 NW 96th Ter Tamarac, FL	1.0–3.0	1.0–2.0	1154	$2,498	$2.16	2d	19	0.92mi
9920 NW 68th Pl Tamarac, FL	2.0	2.0	890	$1,975	$2.22	24d	2	0.94mi
9560 Weldon Cir Unit J308 Fort Lauderdale, FL	2.0	1.5	981	$1,900	$1.94	24d	1	0.95mi
9560 Weldon Cir Unit J308 Fort Lauderdale, FL	2.0	1.5	981	$1,900	$1.94	3d	1	0.95mi
7670 Westwood Dr #703 Tamarac, FL	2.0	2.0	984	$1,850	$1.88	24d	1	0.95mi

HOA detail condo

• Monthly dues: $585 · $7,020/yr
• Likely covers: poolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-10
   status Pending
2. 2026-01-25
   listed $120,000 Active

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $1,113 · $93/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,928
• − Mortgage interest: −$6,722
• − Property taxes: −$1,113
• − Insurance: −$600
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − HOA: −$7,020
• − Depreciation: −$3,491
• Taxable income: $2,833
• Est. tax owed @ 24.0%: −$680
• After-tax cash flow: $3,518/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 — Tamarac

• Score: 76/100
• State rank: #239
• US rank: #3785

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tamarac, FL
• County: Broward County · 1,963,430 people
• City population: 105,666
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 51,216
• Household income: $62,066
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 1394.0

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 34% White 33% Black 27% Two or more races 20% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 5% Dominican 3%
• Common ancestry: Romanian 3% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 38% · Canada, Jamaica, Dominican Republic
• Languages at home: 63% English-only · Spanish 29% French/Haitian/Cajun 4% Other Indo-European 1%

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: ▼ -158.63%
• Current HPI: 362.2989
• Rent YoY: ▼ -1.86%
• 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

2 events — show timeline

• 2026-05-10 Pending — Beaches MLS
• 2026-01-25 Listed $120,000 Beaches MLS

Property tax history

+2.0%/yr

Latest (2025): $1,113 · +4.2% YoY. Source: county tax records.