1 bd · 1.5 ba ·
850 sqft ·
Built 1974
· Condo
· Active
· 90 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,979/mo
Mortgage (P&I)
−$1,384
Tax + insurance
−$440
HOA
−$599
Vac / Maint / Mgmt
−$626
Net cashflow
$-70/mo
Annual
$-840/yr
Cap rate
5.97%
Cash-on-cash
-1.14%
DSCR
0.95
1% rule
1.13%
Cash to close
$73,920
Investor read
This is a 1-bed/1.5-bath condo listed at $264k.
At list price, monthly cash flow is $-70 ($-840/yr) — negative.
To cash-flow at today's rent, offer at most $254k (3.8% below list).
Meets the 1% rule at list price ($3k rent vs $264k).
It's been on market 90 days — a 6% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $248k (6.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
Location reads 82/100 on livability (#78 in FL, #1,293 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: cost of living 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); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
Watch-outs: HOA is 20% of rent.
Market conditions: Rents rising (+3.6%/yr); 742 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 6.0% vs local median 2.2% in Fort 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.
This rent runs 38% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
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 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
Built in 1974 — 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.
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?
CashFlowRE · CFR-68S73RFD0FRJNZ
· Data 1 week agocashflowre.app · 2026-05-29