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North Lauderdale, FL 33068

$99,900B-

2 bd · 2.0 ba · 1,300 sqft · Built 1973 · Condo · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,642/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$767
• Vac / Maint / Mgmt: −$555
• Net cashflow: $630/mo
• Annual: $7,555/yr
• Cap rate: 13.86%
• Cash-on-cash: 27.01%
• DSCR: 2.20
• 1% rule: 2.64%
• Cash to close: $27,972

Investor read

• This is a 2-bed/2.0-bath condo listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• It's been on market 99 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#230 in FL, #3,635 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: commute C-, employment D, amenities 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.
• Watch-outs: HOA is 29% of rent.
• Market conditions: Rents soft (-0.7%/yr); 298 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).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.9% vs local median 4.3% in North Lauderdale — 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 $2,642/mo this rent would consume 49% of the median local household income ($64k/yr) (locally 3073% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Moderate: bathroom fixtures — dated and worn
• Moderate: kitchen appliances — dated and worn
• Moderate: kitchen countertops — dated and worn