7120 S Devon Dr #110 · Tamarac, FL 33321

$159,000

2 bd · 2.0 ba · 1,238 sqft · Condo public records · 167 Days on market

Built 1990 $731/mo HOA · 34% of rent

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Why this score? — see what drove the D 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 +11.5/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional value! Certifications up to date on this beautiful 2/2 waterfront condo located on the 1st floor in desirable Devon community at Kings Point, a vibrant 55+ active neighborhood. You will find a clean, bright, airy & freshly painted home featuring TILE FLOORS THROUGHOUT. The spacious SCREENED PATIO WITH ROLL-DOWN SHUTTERS PROVIDES A PEACEFUL WATERVIEW as you sip your morning coffee or relax in the evening. Split bedroom floor plan offers privacy, the primary featuring ensuite bath & large walk-in closet. The well-appointed kitchen has ample cupboards & an EXTENDED BREAKFAST AREA with front-facing window for natural light, & snack counter with PASS-THRU WIND

Key facts

• Screened patio
• Laundry room
• Waterfront condo

Tags

• WATERFRONT CONDO
• SCREENED PATIO
• HURRICANE IMPACT WINDOWS
• LAUNDRY ROOM
• RESORT STYLE AMENITIES

Property features AI

Finance

• Other: Association includes recreation facilities and pool(s)
• Financial info: Pets not allowed / pet restrictions
• HOA & community: Monthly association fee; Association amenities: clubhouse, pool (heated, association), spa/hot tub, tennis courts, pickleball, shuffleboard, billiard room, business center, transportation service; Association maintains common areas, grounds, structure, roof, parking and provides security

Exterior

• Parking: Assigned parking (one space)
• Security: Key card entry; Complex fenced; Storm/security shutters
• Utilities: Electric service: fuses; Association-managed water; Association-managed cable and internet
• Home design: Attached property; 3 stories; First-floor entry; Has a view; Zero lot line; Canal front with canal access
• Construction: Block construction; Effective year built
• Exterior features: Enclosed porch; Screened porch; Fence; Storm/security shutters; Exterior lighting; Complex fenced

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Self-cleaning oven; Garbage disposal; Breakfast bar / kitchen-dining combo
• Bedrooms: Main level primary; Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Dual sinks in bathroom(s)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Closet cabinetry; Dual sinks; First-floor entry; Kitchen/dining combo; Living/dining room; Split bedrooms; Walk-in closet(s); Drapes; Impact glass windows
• Laundry & utility: Washer; Dryer; Utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $159k.

Deal economics

• At list price, monthly cash flow is $-52 ($-622/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (5.8% below list).
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% 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); 594 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1k of loan paydown is wiped out by about $5k 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 167 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $91k; list at $159k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.35% ✓
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 6.2

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: -23.9%
• Equity multiple: 0.22×
• Total profit: $-34,939
• Equity at exit: $23,707

10-year hold

• IRR: -44.9%
• Equity multiple: -0.29×
• Total profit: $-57,278
• Equity at exit: $13,747

Cash invested: $44,520 (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: 594
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$834
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$66
• HOA: −$731
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-52

Break-even live

Break-even rent $2,217

Max offer price $149,836

Occupancy floor 97%

Sensitivity live

Price	-10% $38	-5% $-7	+0% $-52	+5% $-97	+10% $-142
Rent	-10% $-222	-5% $-137	+0% $-52	+5% $33	+10% $118
Rate	-1.0pp $28	-0.5pp $-11	base $-52	+0.5pp $-93	+1.0pp $-135

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: $39,750
• Closing costs: $4,770
• 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	26d	1	0.07mi
7271 S Devon Dr #101 Tamarac, FL	2.0	2.0	1187	$2,200	$1.85	23d	1	0.09mi
10959 W Clairmont Cir #211 Tamarac, FL	2.0	2.0	1163	$2,100	$1.81	26d	1	0.10mi
10419 E Clairmont Cir #205 Tamarac, FL	2.0	2.0	827	$2,000	$2.42	9d	1	0.27mi
10419 E Clairmont Cir #205 Tamarac, FL	2.0	2.0	827	$2,000	$2.42	26d	1	0.27mi
10425 E Clairmont Cir #107 Tamarac, FL	2.0	2.0	827	$1,850	$2.24	26d	1	0.27mi
10426 E Clairmont Cir #212 Tamarac, FL	2.0	2.0	1294	$2,100	$1.62	26d	1	0.31mi
10350 E Clairmont Cir #312 Tamarac, FL	2.0	2.0	1294	$2,300	$1.78	26d	1	0.32mi
7737 Trent Dr #204 Tamarac, FL	2.0	2.0	1080	$2,000	$1.85	22d	1	0.56mi
9978 N Belfort Cir #206 Fort Lauderdale, FL	1.0	2.0	827	$2,400	$2.90	26d	1	0.57mi
7878 Trent Dr #308 Tamarac, FL	2.0	2.0	1215	$2,000	$1.65	14d	1	0.61mi
7878 Trent Dr #308 Tamarac, FL	2.0	2.0	1215	$2,300	$1.89	26d	1	0.61mi
9909 Westwood Dr Unit 23-1 Tamarac, FL	2.0	1.0	939	$1,880	$2.00	26d	1	0.67mi
9909 Westwood Dr Unit 23-1 Tamarac, FL	2.0	1.0	939	$1,870	$1.99	7d	1	0.67mi
9907 Westwood Dr Unit 24-2 Tamarac, FL	2.0	1.0	939	$2,000	$2.13	26d	1	0.68mi
7940 N Nob Hill Rd #108 Tamarac, FL	2.0	2.0	981	$2,150	$2.19	26d	1	0.84mi
8000 N Nob Hill Rd #206 Tamarac, FL	2.0	2.0	981	$2,190	$2.23	9d	1	0.85mi
8000 N Nob Hill Rd #106 Tamarac, FL	2.0	2.0	981	$2,000	$2.04	5d	1	0.85mi
8000 N Nob Hill Rd #206 Tamarac, FL	2.0	2.0	981	$2,000	$2.04	7d	1	0.85mi
7950 N Nob Hill Rd #203 Tamarac, FL	3.0	2.0	981	$2,700	$2.75	26d	1	0.86mi
7755 Yardley Dr #112 Fort Lauderdale, FL	2.0	2.0	1229	$2,400	$1.95	26d	1	0.86mi
7970 N Nob Hill Rd Tamarac, FL	1.0–3.0	1.0–2.0	1137	$2,195	$1.93	22d	2	0.87mi
7970 N Nob Hill Rd Tamarac, FL	3.0	2.0	1137	$2,475	$2.18	26d	2	0.87mi
9485 N Belfort Cir #308 Tamarac, FL	2.0	2.0	1228	$2,100	$1.71	15d	1	0.88mi
9920 NW 68th Pl Tamarac, FL	2.0	2.0	890	$1,975	$2.22	26d	2	0.89mi
7765 Yardley Dr #107 Fort Lauderdale, FL	2.0	2.0	1469	$2,200	$1.50	14d	1	0.90mi
7980 N Nob Hill Rd #205 Tamarac, FL	2.0	2.0	981	$2,050	$2.09	26d	1	0.91mi
7980 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	836	$2,050	$2.45	18d	2	0.91mi
8030 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	836	$2,100	$2.51	0d	2	0.91mi
8020 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	981	$2,180	$2.22	16d	3	0.91mi
8030 N Nob Hill Rd #105 Tamarac, FL	2.0	2.0	981	$2,100	$2.14	26d	1	0.91mi
8320 Santa Monica Ave Unit 8320 Tamarac, FL	3.0	2.5	1428	$2,900	$2.03	6d	1	0.92mi
8050 N Nob Hill Rd Tamarac, FL	1.0–2.0	1.0–2.0	836	$2,100	$2.51	0d	2	0.93mi
8060 N Nob Hill Rd #203 Tamarac, FL	2.0	2.0	981	$2,200	$2.24	26d	1	0.95mi
10000 S Nob Hill Cir #10163 Tamarac, FL	2.0	1.0	900	$1,767	$1.96	5d	1	0.95mi
8070 N Nob Hill Rd #205 Tamarac, FL	2.0	2.0	981	$1,990	$2.03	26d	1	0.97mi
9511 Weldon Cir Unit 412 Tamarac, FL	2.0	2.0	1080	$1,875	$1.74	9d	1	0.98mi
9511 Weldon Cir Tamarac, FL	2.0	2.0	1116	$1,850	$1.66	26d	2	0.99mi
7670 Westwood Dr #703 Tamarac, FL	2.0	2.0	984	$1,850	$1.88	26d	1	1.02mi
9608 W McNab Rd #103 Tamarac, FL	2.0	2.0	820	$1,750	$2.13	23d	1	1.02mi

HOA detail condo

• Monthly dues: $731 · $8,772/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $159,000 Active 167 DOM
2. 2026-06-18
   days on market $159,000 Active 164 DOM
3. 2026-06-17
   days on market $159,000 Active 163 DOM
4. 2026-06-16
   days on market $159,000 Active 162 DOM
5. 2026-06-15
   days on market $159,000 Active 161 DOM
6. 2026-06-13
   days on market $159,000 Active 159 DOM
7. 2026-06-09
   days on market $159,000 Active 155 DOM
8. 2026-06-07
   days on market $159,000 Active 153 DOM
9. 2026-06-04
   days on market $159,000 Active 150 DOM
10. 2026-06-03
    days on market $159,000 Active 149 DOM
11. 2026-06-02
    days on market $159,000 Active 148 DOM
12. 2026-06-01
    days on market $159,000 Active 147 DOM
13. 2026-05-31
    days on market $159,000 Active 146 DOM
14. 2026-02-25
    price $159,000
15. 2026-01-05
    listed $167,000 Active
16. 2023-05-02
    soldstatus $91,000

ⓘ 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: $1,440 · $120/mo
• Projected year-2 tax: $1,440 · $120/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: $25,811
• − Mortgage interest: −$8,906
• − Property taxes: −$1,440
• − Insurance: −$795
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − HOA: −$8,772
• − Depreciation: −$4,625
• Taxable loss: −$2,858
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $63/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

+74.7% since first listed

3 events — show timeline

• 2026-02-25 Price Changed $159,000 MARMLS
• 2026-01-05 Listed $167,000 MARMLS
• 2023-05-02 Sold (Public Records) $91,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,440 · +5.4% YoY. Source: county tax records.