0 SW Washington

Washington Park, FL 33311

$75D+

2 bd · 2.0 ba · 1,267 sqft · Built 2025 · Land · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,445/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$513
• Net cashflow: $1,931/mo
• Annual: $23,172/yr
• Cap rate: 30902.29%
• Cash-on-cash: 110342.86%
• DSCR: 4910.64
• 1% rule: 3259.95%
• Cash to close: $21

Investor read

• This is a 2-bed/2.0-bath land listed at $75.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75).
• It's been on market 81 days — a 6% lower offer ($70) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70 (6.7% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $2 of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#164 in FL, #2,458 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, commute A-; Watch: amenities F, employment 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.
• Market conditions: Rents rising (+2.8%/yr); 585 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $21 cash investment doubles in ~1 year — 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,445/mo this rent would consume 54% of the median local household income ($54k/yr) (locally 5068% 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 81 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.