901 SW 128th Ave Unit 212E

Pembroke Pines, FL 33027

$149,500D-

1 bd · 2.0 ba · 1,045 sqft · Built 1986 · Condo · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$784
• Tax + insurance: −$336
• HOA: −$736
• Vac / Maint / Mgmt: −$420
• Net cashflow: $-276/mo
• Annual: $-3,309/yr
• Cap rate: 4.08%
• Cash-on-cash: -7.91%
• DSCR: 0.65
• 1% rule: 1.34%
• Cash to close: $41,860

Investor read

• This is a 1-bed/2.0-bath condo listed at $150k.
• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (32.6% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 74 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (32.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-2.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#54 in FL, #933 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, schools 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.
• Watch-outs: HOA is 37% of rent.
• Market conditions: Rents soft (-0.2%/yr); 549 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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.
• 2 sale attempts; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $150k implies a 80% gain — meaningful room to come down on a strong offer.
• This rent runs 31% of the median local income ($77k/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 74 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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?