None · Miramar, FL 33025

$108,900

2 bd · 2.0 ba · 1,170 sqft · Condo

Built 1973 $707/mo HOA · 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell quickly. Make this corner unit your own with extra exposures in the bedrooms. Can be sold furnished or unfurnished. Small pond and fountain in front. Kitchen had been upgraded from the original with raised ceiling. Soundproof floors are tile and laminate. Newer air cond. Impact windows in both bedrooms. Storm shutters on patio. 4 ceiling fans, storage pass-thru, Paid up rec lease. Assessment has been paid in full. Close to clubhouse. In Cul-de-sac with convenient parking space and lots of guest spaces available. Includes Free golf , 14 tennis courts, 7 pools, theater, fitness center, restaurant , 24 hr security, . Assoc. represents housing for older persons authorized (HOPA).

Key facts

• $707 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Cap rate 11.7% vs local median 3.3% in Miramar — 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 80/100 on livability (#111 in FL, #1,721 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime A; Watch: commute D+, cost of living D+, amenities 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: Palm Cove Elementary School (math 25% / reading 46%, grade F, #1,684 of 2,144 statewide, top 79%, 438 students, 64% FRL); Pines Middle School (math 20% / reading 37%, grade F, #482 of 571 statewide, top 85%, 597 students, 67% FRL); Charles W Flanagan High School (math 29% / reading 50%, grade F, #304 of 667 statewide, top 47%, 2,475 students, 57% FRL).
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 438 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 43% of the median local income ($69k/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 $753 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,900

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 2.27% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.41%
• DSCR: 1.86
• GRM: 3.7

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: 6.2%
• Equity multiple: 1.23×
• Total profit: $6,991
• Equity at exit: $16,237

10-year hold

• IRR: 10.9%
• Equity multiple: 1.67×
• Total profit: $20,453
• Equity at exit: $9,416

Cash invested: $30,492 (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 33025

• Rents YoY: -0.9%
• Active inventory: 438
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$571
• Tax est. 1.5%: −$136 /mo · $1,634/yr
• Insurance: −$45
• HOA: −$707
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $493

Break-even live

Break-even rent $1,848

Max offer price $108,900

Occupancy floor 75%

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: $27,225
• Closing costs: $3,267
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10012 SW 23rd St Miramar, FL	2.0	2.5	1296	$2,650	$2.04	15d	1	0.23mi
10012 SW 23rd St Miramar, FL	2.0	2.5	1296	$2,650	$2.04	16d	1	0.23mi
1814 SW 97th Ter Unit A Miramar, FL	2.0	1.5	870	$2,450	$2.82	16d	1	0.29mi
1814 SW 97th Ter Miramar, FL	2.0	1.0	870	$2,450	$2.82	2d	1	0.29mi
10265 SW 24th Ct Miramar, FL	3.0	2.0	1406	$3,850	$2.74	24d	1	0.31mi
10101 SW 14th St Pembroke Pines, FL	2.0–3.0	2.0–2.5	1342	$2,799	$2.08	1d	20	0.38mi
9820 S Hollybrook Lake Dr Pembroke Pines, FL	1.0–2.0	1.5–2.0	1035	$2,000	$1.93	24d	2	0.59mi
9820 S Hollybrook Lake Dr Pembroke Pines, FL	1.0–2.0	1.5–2.0	1035	$2,000	$1.93	3d	3	0.59mi
9820 S Hollybrook Lake Dr Pembroke Pines, FL	1.0–2.0	1.5–2.0	1035	$2,000	$1.93	7d	2	0.59mi
9720 S Hollybrook Lake Dr #303 Pembroke Pines, FL	2.0	2.0	1170	$2,499	$2.14	20d	1	0.65mi
10720 N Preserve Way Miramar, FL	1.0–3.0	1.0–2.0	1104	$2,558	$2.32	1d	60	0.65mi
9420 S Hollybrook Lake Dr #102 Pembroke Pines, FL	2.0	2.0	1170	$2,250	$1.92	15d	1	0.72mi
9423 S Hollybrook Lake Dr #203 Pembroke Pines, FL	2.0	2.0	1170	$2,000	$1.71	24d	1	0.73mi
9220 S Hollybrook Lake Dr #208 Pembroke Pines, FL	2.0	2.0	1170	$1,900	$1.62	24d	1	0.76mi
10170 SW 7th St Pembroke Pines, FL	1.0–3.0	1.0–2.5	1133	$2,779	$2.45	1d	47	0.76mi
9761 W Heather Ln Miramar, FL	3.0	2.0	971	$2,550	$2.63	10d	1	0.78mi
9761 W Heather Ln Miramar, FL	3.0	2.0	971	$2,550	$2.63	7d	1	0.78mi
9800 N Hollybrook Lake Dr Unit 9-303 Pembroke Pines, FL	2.0	2.0	1170	$1,700	$1.45	24d	1	0.80mi
2200 E Preserve Way #301 Miramar, FL	2.0	2.0	916	$2,349	$2.56	4d	1	0.83mi
2200 E Preserve Way #301 Miramar, FL	2.0	2.0	916	$2,350	$2.57	20d	1	0.83mi
2160 E Preserve Way Miramar, FL	1.0	1.0	726	$1,900	$2.62	7d	1	0.83mi
2160 E Preserve Way #107 Miramar, FL	1.0	1.0	726	$1,875	$2.58	24d	1	0.83mi
2151 W Preserve Way #304 Miramar, FL	2.0	2.0	977	$2,275	$2.33	13d	1	0.85mi
2201 W Preserve Way Miramar, FL	1.0–2.0	1.0–2.0	890	$2,295	$2.58	2d	3	0.86mi
2201 W Preserve Way Miramar, FL	1.0–2.0	1.0–2.0	890	$2,295	$2.58	20d	1	0.86mi
2201 W Preserve Way Miramar, FL	1.0–2.0	1.0–2.0	890	$2,295	$2.58	7d	2	0.86mi
8931 SW 18th St #401 Miramar, FL	3.0	2.5	1260	$2,850	$2.26	24d	1	0.88mi
8931 SW 18th St #401 Miramar, FL	3.0	2.5	1260	$2,800	$2.22	2d	1	0.88mi
2360 E Preserve Way #201 Miramar, FL	1.0	1.0	726	$1,925	$2.65	16d	1	0.88mi
2351 W Preserve Way Miramar, FL	2.0–3.0	2.0	1084	$2,260	$2.08	24d	2	0.92mi
2351 W Preserve Way #207 Miramar, FL	3.0	2.0	1192	$2,600	$2.18	15d	1	0.92mi
10650 Washington St Pembroke Pines, FL	1.0	1.0	764	$2,171	$2.84	24d	1	0.92mi
10650 Washington St Pembroke Pines, FL	2.0	2.0	1046	$2,736	$2.62	4d	1	0.92mi
10650 Washington St Pembroke Pines, FL	2.0	2.0	1046	$2,736	$2.62	20d	1	0.92mi
10650 Washington St Pembroke Pines, FL	1.0	1.0	764	$2,171	$2.84	19d	1	0.92mi
2440 E Preserve Way #208 Miramar, FL	1.0	1.0	730	$1,935	$2.65	5d	1	0.92mi
2440 E Preserve Way Miramar, FL	1.0	1.0	730	$1,918	$2.63	16d	2	0.93mi
8915 SW 18th St Miramar, FL	2.0	2.5	1120	$2,650	$2.37	24d	1	0.93mi
1820 SW 89th Ter Miramar, FL	2.0	2.5	1120	$2,800	$2.50	3d	1	0.94mi
1820 SW 89th Ter Miramar, FL	2.0	2.5	1120	$2,800	$2.50	2d	1	0.94mi

HOA detail condo

• Monthly dues: $707 · $8,484/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-03-06
   historical
2. 2026-03-04
   listed $108,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 20 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: $29,662
• − Mortgage interest: −$6,100
• − Property taxes: −$1,634
• − Insurance: −$544
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − HOA: −$8,484
• − Depreciation: −$3,168
• Taxable income: $4,986
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $4,721/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 — Miramar

• Score: 80/100
• State rank: #111
• US rank: #1721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miramar, FL
• County: Broward County · 1,963,430 people
• City population: 214,427
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,967
• Household income: $68,743
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 4834.0

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 0.64)
• Race & ethnicity: Black 44% Hispanic / Latino 39% Two or more races 18% White 11% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 11% Dominican 3% Salvadoran 1%
• Common ancestry: Hispanic 8% Italian 1%
• Foreign-born: 38% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 35% French/Haitian/Cajun 7% 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: ▼ -246.93%
• Current HPI: 416.2123
• Rent YoY: ▼ -0.92%
• 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

• 2026-03-06 Listing Removed — Beaches MLS
• 2026-03-04 Listed $108,900 Beaches MLS