203 Farnham I #203 · Deerfield Beach, FL 33442

$85,000

1 bd · 1.5 ba · 700 sqft · Condo · 37 Days on market

Built 1974 Good condition $599/mo HOA · 33% 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 +26.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cozy 1 bedroom, 1.5 bath FIRST FLOOR garden view condo. Located in active adult community in the heart of Deerfield Beach. Updated kitchen with granite counter tops, tile backsplash, stainless steel whirlpool appliances, large stainless steel sink, wood cabinets. Ceramic tile thru-out. Recessed lighting. Remodeled bathrooms with all tile walls. Shower stall in primary bathroom. Enclosed patio with exit door and OUTDOOR BRICK PATIO! Partially furnished. CVE offers resort style amenities galore including a lavish clubhouse, 1,500 seat theater, premier performances, shuttle buses, state of the art gym, pickleball, putting greens, tennis, indoor & outdoor pools, movies, classes of every t

Key facts

• Lavish clubhouse
• Outdoor brick patio
• Pickleball

Tags

• UPDATED KITCHEN
• OUTDOOR BRICK PATIO
• RESORT STYLE AMENITIES
• LAVISH CLUBHOUSE
• STATE OF THE ART GYM
• PICKLEBALL

Property features AI

Finance

• Other: Senior community; Pets not allowed; Community contains a large number of units
• Financial info: Association fees cover insurance, security, sewer, trash, water, common areas, legal/accounting, roof repairs, and pool service
• HOA & community: Monthly association fee; Association amenities include billiard room, clubhouse, fitness center, laundry, picnic area, parking, sauna, shuffleboard, spa/hot tub, storage, tennis courts, trash chute, community room, courtesy bus, heated pool, pickleball courts, putting green, recreation facilities

Exterior

• Parking: Assigned parking; Guest parking; Open parking (total 1)
• Security: Gated community; Security services included in association
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; One level entry; East-facing; Two-story building
• Construction: Block/CBS construction; Concrete roof
• Exterior features: Fenced; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile; Tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Window/wall heating; Ceiling fans; Wall/window cooling units
• Interior features: Electric range; Microwave; Refrigerator
• Laundry & utility: Laundry facilities in community

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.2% in Deerfield Beach — 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 75/100 on livability (#250 in FL, #3,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D-, employment 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: Quiet Waters Elementary School (math 40% / reading 48%, grade F, #1,330 of 2,144 statewide, top 63%, 1,128 students, 62% FRL); Lyons Creek Middle School (math 49% / reading 53%, grade C, #237 of 571 statewide, top 43%, 1,757 students, 60% FRL); Deerfield Beach High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 2,251 students, 69% FRL).
• Market conditions: Rents flat; 586 active listings in the ZIP; 37 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 40% of the median local income ($53k/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 $588 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 37 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.11% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-3,713
• Equity at exit: $12,674

10-year hold

• IRR: -1.9%
• Equity multiple: 0.90×
• Total profit: $-2,339
• Equity at exit: $7,349

Cash invested: $23,800 (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 33442

• Rents YoY: 0.1%
• Active inventory: 586
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$599
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $232

Break-even live

Break-even rent $1,502

Max offer price $85,000

Occupancy floor 82%

Sensitivity live

Price	-10% $290	-5% $261	+0% $232	+5% $202	+10% $173
Rent	-10% $90	-5% $161	+0% $232	+5% $303	+10% $373
Rate	-1.0pp $274	-0.5pp $253	base $232	+0.5pp $210	+1.0pp $187

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Farnham F #137 Deerfield Beach, FL	1.0	1.5	700	$2,500	$3.57	25d	1	0.06mi
137 Farnham F Deerfield Beach, FL	1.0	1.5	708	$2,000	$2.82	25d	1	0.07mi
329 Farnham P #329 Deerfield Beach, FL	1.0	1.5	700	$1,450	$2.07	25d	1	0.15mi
436 Markham S #436 Deerfield Beach, FL	1.0	1.0	585	$1,400	$2.39	25d	1	0.53mi
3016 Cambridge A Unit A Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	25d	1	0.54mi
308 Markham N Deerfield Beach, FL	1.0	1.5	700	$1,200	$1.71	25d	1	0.55mi
306 Newport T #306 Deerfield Beach, FL	1.0	1.0	585	$1,350	$2.31	25d	1	0.57mi
358 Markham Cres Unit 358 Deerfield Beach, FL	1.0	1.5	700	$1,500	$2.14	25d	1	0.62mi
111 Oakridge I #111 Deerfield Beach, FL	1.0	1.5	706	$1,595	$2.26	25d	1	0.64mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	3d	1	0.71mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	11d	1	0.71mi
127 Westbury Cir Deerfield Beach, FL	1.0	1.0	585	$1,425	$2.44	25d	1	0.73mi
295 Newport Dr Unit 295 Deerfield Beach, FL	1.0	1.0	595	$1,450	$2.44	25d	1	0.74mi
149 Westbury I #149 Deerfield Beach, FL	1.0	1.0	585	$1,700	$2.91	25d	1	0.76mi
98 Westbury E #98 Deerfield Beach, FL	1.0	1.0	585	$1,600	$2.74	25d	1	0.79mi
102 Westbury E #102 Deerfield Beach, FL	1.0	1.0	585	$1,900	$3.25	8d	1	0.79mi
384 Durham Cir Unit 384 Deerfield Beach, FL	1.0	1.0	593	$1,400	$2.36	25d	1	0.81mi
125 Newport I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	25d	1	0.81mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	6d	1	0.81mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	21d	1	0.81mi
125 Westbury E Deerfield Beach, FL	1.0	1.0	585	$1,600	$2.74	25d	1	0.81mi
226 Newport O Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	3d	1	0.82mi
226 Newport O Deerfield Beach, FL	1.0	1.5	700	$1,700	$2.43	25d	1	0.82mi
181 Newport Ct #181 Deerfield Beach, FL	1.0	1.5	700	$1,650	$2.36	25d	1	0.88mi
170 Newport K Deerfield Beach, FL	1.0	1.0	585	$1,430	$2.44	25d	1	0.88mi
27 Newport B Deerfield Beach, FL	1.0	1.5	700	$1,550	$2.21	22d	1	0.88mi
25 Newport Ct Unit 25 Deerfield Beach, FL	1.0	1.0	700	$1,549	$2.21	25d	1	0.88mi
181 Tilford I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	25d	1	0.90mi
188 Prescott E Unit 188 Deerfield Beach, FL	1.0	1.5	700	$1,800	$2.57	25d	1	0.92mi
20 Prescott E Unit 20 Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	25d	1	0.93mi
6 Ventnor a Deerfield Beach, FL	1.0	1.0	600	$1,429	$2.38	25d	1	1.07mi
660 Cypress Club Way Unit L11 Deerfield Beach, FL	1.0	1.0	605	$1,625	$2.69	12d	1	1.08mi
731 Cypress Ln Unit D Pompano Beach, FL	1.0	1.0	605	$1,650	$2.73	19d	1	1.11mi
260 Prescott N Unit 260 Deerfield Beach, FL	1.0	1.5	700	$1,500	$2.14	25d	1	1.15mi
41 Deer Creek Rd Unit G106 Deerfield Beach, FL	—	1.0	550	$1,850	$3.36	25d	1	1.17mi
425 E Bougainvillea Dr Deerfield Beach, FL	2.0	1.5	600	$2,500	$4.17	25d	1	1.41mi
401 SW 13th Pl Deerfield Beach, FL	2.0	1.0	709	$1,695	$2.39	16d	1	1.46mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $85,000 Active 37 DOM
2. 2026-06-17
   days on market $85,000 Active 36 DOM
3. 2026-06-16
   days on market $85,000 Active 35 DOM
4. 2026-06-15
   days on market $85,000 Active 34 DOM
5. 2026-06-13
   days on market $85,000 Active 32 DOM
6. 2026-06-09
   days on market $85,000 Active 28 DOM
7. 2026-06-08
   days on market $85,000 Active 27 DOM
8. 2026-06-07
   pricedays on market $85,000 Active 26 DOM
9. 2026-06-04
   days on market $95,000 Active 23 DOM
10. 2026-06-03
    days on market $95,000 Active 22 DOM
11. 2026-06-02
    days on market $95,000 Active 21 DOM
12. 2026-06-01
    days on market $95,000 Active 20 DOM
13. 2026-05-31
    days on market $95,000 Active 19 DOM
14. 2026-05-11
    listed $95,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,541
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − HOA: −$7,188
• − Depreciation: −$2,473
• Taxable income: $1,972
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $2,307/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.

Condition & rehab AI · 30 photos

Good 75/100 Cosmetic rehab

This well-maintained, first-floor garden view condo in a Deerfield Beach community offers a good investment opportunity with minimal repairs and updates needed.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Deerfield Beach

• Score: 75/100
• State rank: #250
• US rank: #3970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield Beach, FL
• County: Broward County · 1,963,430 people
• City population: 61,449
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 31,296
• Household income: $53,254
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 2169.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 23% Two or more races 19% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 3%
• Common ancestry: Estonian 7% Romanian 4% Hispanic 3%
• Foreign-born: 34% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 20% Other Indo-European 13% French/Haitian/Cajun 4%

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: ▼ -280.44%
• Current HPI: 323.0166
• Rent YoY: ▲ 0.10%
• 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

1 event — show timeline

• 2026-05-11 Listed $95,000 Beaches MLS