8400 Lagos De Campo Blvd #303

Tamarac, FL 33321

$130,000C-

2 bd · 2.0 ba · 876 sqft · Built 1973 · Condo · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,947/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$404
• HOA: −$535
• Vac / Maint / Mgmt: −$409
• Net cashflow: $-83/mo
• Annual: $-992/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• 1% rule: 1.50%
• Cash to close: $36,400

Investor read

• This is a 2-bed/2.0-bath condo listed at $130k.
• At list price, monthly cash flow is $-83 ($-992/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (11.2% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 102 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (11.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#239 in FL, #3,785 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute 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.
• Zoned schools: Challenger Elementary School (math 37% / reading 53%, grade D-, #1,271 of 2,144 statewide, top 60%, 909 students, 62% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); J. P. Taravella High School (math 19% / reading 45%, grade F, #415 of 667 statewide, top 63%, 2,586 students, 54% FRL).
• Watch-outs: flood insurance adds $152/mo; HOA is 27% of rent.
• Market conditions: Rents soft (-1.9%/yr); 594 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 24y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $130k implies a 99% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 6.9% vs local median 3.9% in Tamarac — 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 ($62k/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 102 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.