2 bd · 2.0 ba ·
944 sqft ·
Built 1970
· Condo
· Active
· 47 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,751/mo
Mortgage (P&I)
−$656
Tax + insurance
−$210
HOA
−$586
Vac / Maint / Mgmt
−$368
Net cashflow
$-68/mo
Annual
$-814/yr
Cap rate
5.64%
Cash-on-cash
-2.33%
DSCR
0.90
1% rule
1.40%
Cash to close
$35,000
Investor read
This is a 2-bed/2.0-bath condo listed at $125k.
At list price, monthly cash flow is $-68 ($-814/yr) — negative.
To cash-flow at today's rent, offer at most $113k (9.6% below list).
Meets the 1% rule at list price ($2k rent vs $125k).
It's been on market 47 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $113k (9.6% below list) — sets the bar for cash-flow.
Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
Location reads 81/100 on livability (#100 in FL, #1,527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, 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.
Zoned schools: Park Lakes Elementary School (math 35% / reading 44%, grade F, #1,513 of 2,144 statewide, top 73%, 970 students, 82% 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 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
Watch-outs: HOA is 33% of rent.
Market conditions: Rents flat; 664 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 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 $28k; list at $125k implies a 346% gain — meaningful room to come down on a strong offer.
At $1,751/mo this rent would consume 45% of the median local household income ($46k/yr) (locally 5692% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
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 47 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
Built in 1970 — 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?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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?
CashFlowRE · CFR-E8GZK53D1BYTP6
· Data 3 weeks agocashflowre.app · 2026-05-29