8921 Palm Tree Ln #8921 · Pembroke Pines, FL 33024

$165,000

3 bd · 3.0 ba · 1,271 sqft · Condo public records · 312 Days on market

Built 1975 $811/mo HOA · 27% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IINVESTMENT OPPORTUNITY The building and this unit have been affected by a fire that originated in another unit. The Condominium Association is responsible for rebuilding or repairing the exterior elements, including the roof. Excellent location in the heart of Pembroke Pines. The property features a patio and beautiful lake view. The community offers a clubhouse, gym, pools, and tennis courts. Buyers must conduct their own due diligence, but there is potential for a high return on investment. Property is for sale AS IS. Schedule a visit today!

Key facts

• $811 HOA
• Community pool
• Built 1975

Property features AI

Finance

• Other: Pets allowed (breed restrictions and other pet restrictions may apply)
• Financial info:
• HOA & community: Monthly HOA with pool; HOA fees include cable TV, insurance and common area maintenance

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; 2-story building; Southeast-facing
• Construction: Concrete construction
• Exterior features: Waterfront

Interior

• Kitchen:
• Bedrooms: 2 main-level bedrooms
• Flooring: Concrete flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); 1 bathroom on main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Unfurnished
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.0% in Pembroke Pines — 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.

Location & tenants

• Location reads 83/100 on livability (#54 in FL, #933 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime A-; Watch: amenities D+, 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: Pines Lakes Elementary School (math 32% / reading 42%, grade F, #1,609 of 2,144 statewide, top 77%, 500 students, 68% FRL); Pines Middle School (math 20% / reading 37%, grade F, #482 of 571 statewide, top 85%, 597 students, 67% FRL); Charles W Flanagan High School (math 29% / reading 50%, grade F, #304 of 667 statewide, top 47%, 2,475 students, 57% FRL).
• Zoned-school proficiency averages 35% at this address vs 48% district-wide (-12 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.0%/yr); 326 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $135k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 312 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,317
• Equity at exit: $24,602

10-year hold

• IRR: 5.1%
• Equity multiple: 1.33×
• Total profit: $15,180
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33024

• Rents YoY: 1.0%
• Active inventory: 326
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,009 high
• Mortgage (P&I): −$865
• Tax from tax record: −$164 /mo · $1,965/yr
• Insurance: −$69
• HOA: −$811
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $468

Break-even live

Break-even rent $2,416

Max offer price $165,000

Occupancy floor 79%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1504 NW 89th Ter #1504 Pembroke Pines, FL	2.0	2.5	1040	$2,350	$2.26	24d	1	0.03mi
9110 Orchid Tree Ln #138 Pembroke Pines, FL	3.0	2.5	1472	$3,300	$2.24	24d	1	0.11mi
9110 Orchid Tree Ln #138 Pembroke Pines, FL	3.0	2.5	1472	$3,300	$2.24	17d	1	0.11mi
9151 Orchid Tree Ln #131 Pembroke Pines, FL	3.0	2.5	1472	$3,150	$2.14	24d	1	0.14mi
9321 NW 14th St Pembroke Pines, FL	4.0	2.0	1355	$3,999	$2.95	24d	1	0.27mi
9421 NW 15th St #234 Pembroke Pines, FL	3.0	2.5	1472	$2,750	$1.87	17d	1	0.29mi
9287 NW 18th St Pembroke Pines, FL	2.0	1.5	954	$2,200	$2.31	24d	1	0.30mi
8761 NW 12th St Pembroke Pines, FL	3.0	2.0	1429	$3,300	$2.31	24d	1	0.31mi
9511 NW 14th Ct #213 Pembroke Pines, FL	2.0	2.0	1080	$2,400	$2.22	8d	1	0.33mi
1211 NW 87th Way Pembroke Pines, FL	2.0	1.0	897	$3,000	$3.34	4d	1	0.34mi
920 NW 92nd Ave Pembroke Pines, FL	3.0	2.0	1548	$3,800	$2.45	24d	1	0.36mi
8951 NW 21st St Pembroke Pines, FL	3.0	2.0	1626	$3,950	$2.43	8d	1	0.41mi
1701 NW 96th Ter Unit 1C Pembroke Pines, FL	3.0	2.0	1093	$2,495	$2.28	24d	1	0.52mi
9732 NW 15th St #306 Pembroke Pines, FL	2.0	2.5	1214	$2,650	$2.18	21d	1	0.54mi
1511 NW 85th Way Pembroke Pines, FL	2.0	1.0	1317	$2,725	$2.07	19d	1	0.56mi
1761 Bayberry Dr Pembroke Pines, FL	3.0	2.0	1450	$2,650	$1.83	17d	1	0.60mi
1168 NW 97th Ave #232 Pembroke Pines, FL	2.0	2.5	1214	$2,650	$2.18	14d	1	0.65mi
1561 NW 98th Ave #1561 Pembroke Pines, FL	2.0	2.0	1060	$2,500	$2.36	13d	1	0.67mi
1950 Bayberry Dr Pembroke Pines, FL	3.0	2.5	1813	$3,100	$1.71	24d	1	0.69mi
2101 Bayberry Dr Unit 2101 Pembroke Pines, FL	2.0	2.5	1542	$2,900	$1.88	24d	1	0.70mi
8830 NW 3rd St Pembroke Pines, FL	3.0	2.0	1543	$4,000	$2.59	22d	1	0.73mi
8830 NW 3rd St Pembroke Pines, FL	3.0	2.0	1543	$4,000	$2.59	4d	1	0.73mi
2090 NW 84th Ter Pembroke Pines, FL	3.0	2.0	1832	$3,690	$2.01	11d	1	0.76mi
1601 NW 98th Way Pembroke Pines, FL	2.0	2.0	1060	$2,700	$2.55	21d	1	0.77mi
1601 NW 98th Way Pembroke Pines, FL	2.0	2.0	1060	$2,700	$2.55	8d	1	0.77mi
8350 Taft St Pembroke Pines, FL	2.0	1.0	897	$2,600	$2.90	24d	1	0.78mi
9741 NW 5th St Unit 9741 Pembroke Pines, FL	3.0	2.0	1574	$3,300	$2.10	15d	1	0.82mi
9715 NW 23rd Ct Pembroke Pines, FL	3.0	2.5	1589	$3,800	$2.39	24d	1	0.82mi
9610 NW 2nd St Unit 8-203 Pembroke Pines, FL	2.0	2.0	1000	$2,250	$2.25	24d	1	0.83mi
150 NW 96th Ave Unit 9-203 Pembroke Pines, FL	2.0	2.0	1000	$2,225	$2.23	24d	1	0.85mi
9630 NW 2nd St Unit 6-308 Pembroke Pines, FL	3.0	2.0	1247	$2,700	$2.17	24d	1	0.86mi
731 NW 84th Ave Pembroke Pines, FL	3.0	2.0	1176	$2,850	$2.42	3d	1	0.86mi
9615 NW 1st Ct Unit 10-202 Pembroke Pines, FL	3.0	2.0	1247	$2,550	$2.04	15d	1	0.87mi
9615 NW 1st Ct Unit 10-202 Pembroke Pines, FL	3.0	2.0	1247	$2,550	$2.04	24d	1	0.87mi
9640 NW 2nd St Unit 208 Pembroke Pines, FL	3.0	2.0	1247	$2,500	$2.00	14d	1	0.88mi
9640 NW 2nd St Unit 208 Pembroke Pines, FL	3.0	2.0	1247	$2,500	$2.00	15d	1	0.88mi
9900 Sheridan St Pembroke Pines, FL	1.0–3.0	1.0–2.0	965	$2,725	$2.82	2d	16	0.88mi
9650 NW 2nd St Unit 4-304 Pembroke Pines, FL	2.0	2.0	1000	$2,400	$2.40	8d	1	0.90mi
9620 NW 2nd St Unit 7-106 Pembroke Pines, FL	3.0	2.0	1247	$2,600	$2.09	7d	1	0.91mi
8261 Johnson St Pembroke Pines, FL	3.0	2.0	1093	$3,300	$3.02	17d	1	0.92mi

HOA detail condo

• Monthly dues: $811 · $9,732/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $165,000 Active 312 DOM
2. 2026-06-17
   days on market $165,000 Active 311 DOM
3. 2026-06-16
   days on market $165,000 Active 310 DOM
4. 2026-06-15
   days on market $165,000 Active 309 DOM
5. 2026-06-13
   days on market $165,000 Active 307 DOM
6. 2026-06-09
   days on market $165,000 Active 303 DOM
7. 2026-06-07
   days on market $165,000 Active 301 DOM
8. 2026-06-04
   days on market $165,000 Active 298 DOM
9. 2026-06-03
   days on market $165,000 Active 297 DOM
10. 2026-06-02
    days on market $165,000 Active 296 DOM
11. 2026-06-01
    days on market $165,000 Active 295 DOM
12. 2026-05-31
    days on market $165,000 Active 294 DOM
13. 2026-03-19
    status Active
14. 2026-03-11
    status Pending
15. 2026-01-12
    status Pending
16. 2025-06-04
    listed $165,000 Active
17. 2014-11-20
    soldstatus $135,000
18. 1978-04-01
    soldstatus $41,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,965 · $164/mo
• Projected year-2 tax: $1,965 · $164/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,104
• − Mortgage interest: −$9,243
• − Property taxes: −$1,965
• − Insurance: −$825
• − Repairs & maintenance: −$2,888
• − Management: −$2,888
• − HOA: −$9,732
• − Depreciation: −$4,800
• Taxable income: $3,762
• Est. tax owed @ 24.0%: −$903
• After-tax cash flow: $4,713/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Broward
• NCES district ID: 1200180
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $52,139
• Composite: 40.88/100
• National rank: #3621
• State rank: #46 of 73 in FL

Livability — Pembroke Pines

• Score: 83/100
• State rank: #54
• US rank: #933

Category grades

Amenities D+ Commute A- Cost of living D+ Crime A- Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pembroke Pines, FL
• County: Broward County · 1,963,430 people
• City population: 180,224
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,585
• Household income: $80,061
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 2813.0

Population outlook (Broward County) Hauer SSP2

• Today (2025): 2,207,033 people
• By 2030: 2,360,704 · +7.0%
• By 2040: 2,661,208 · +20.6%
• By 2050: 2,946,698 · +33.5%
• By 2075: 3,602,273 · +63.2%
• By 2100: 3,970,984 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 23% White 22% Black 17% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Cuban 13% Dominican 5%
• Common ancestry: Hispanic 4% Romanian 2% Estonian 1%
• Foreign-born: 40% · Canada, Jamaica, Dominican Republic
• Languages at home: 44% English-only · Spanish 46% French/Haitian/Cajun 5% Other Indo-European 3%

Political lean MEDSL · Broward

• 2024 margin: D (+17.0) · D 58.0% · R 41.0%
• 2008→2024 swing: -17.8pp toward R · 2008: 34.7pp · 2024: 17.0pp
• All cycles: 2024: D+17.0 2020: D+29.8 2016: D+35.0 2012: D+34.9 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -442.20%
• Current HPI: 464.3405
• Rent YoY: ▲ 1.01%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+302.4% since first listed

6 events — show timeline

• 2026-03-19 Relisted — Beaches MLS
• 2026-03-11 Pending — Beaches MLS
• 2026-01-12 Pending — Beaches MLS
• 2025-06-04 Listed $165,000 Beaches MLS
• 2014-11-20 Sold (Public Records) $135,000 Public Records
• 1978-04-01 Sold (Public Records) $41,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,965 · -1.2% YoY. Source: county tax records.