2034 Taylor St

Hollywood, FL 33020

$675,000F

4 bd · 2.0 ba · 1,320 sqft · Built 1950 · MultiFamily · Pending · 162 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,640/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$919
• HOA: −$0
• Vac / Maint / Mgmt: −$974
• Net cashflow: $-793/mo
• Annual: $-9,521/yr
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• 1% rule: 0.69%
• Cash to close: $189,000

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $675k.
• At list price, monthly cash flow is $-793 ($-10k/yr) — negative. Per door: $-397/mo.
• To cash-flow at today's rent, offer at most $535k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $464k (31.3% below list).
• It's been on market 162 days — a 12% lower offer ($594k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $464k (31.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#232 in FL, #3,548 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime B+; Watch: 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: 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); South Broward High School (math 24% / reading 49%, grade F, #351 of 667 statewide, top 54%, 2,397 students, 59% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 591 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).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask is 28623% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $252k; list at $675k implies a 167% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 3.2% in Hollywood — 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.
• At $4,640/mo this rent would consume 99% of the median local household income ($56k/yr) (locally 3948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 162 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?