2980 Riverside Dr Unit 324-3 · Coral Springs, FL 33065

$125,000

2 bd · 2.0 ba · 1,179 sqft · Condo public records · 19 Days on market

Built 1975 $637/mo HOA · 29% 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 +26.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ideally located in the heart of Coral Springs, this well-maintained condo is offered by its original owner and presents a fantastic opportunity for customization. Enjoy easy access to shopping, dining, parks, and major roadways—all just minutes from your door. Inside, you'll find a spacious, functional layout filled with natural light, featuring comfortable living and dining areas perfect for everyday living or entertaining. Recent updates include a newer HVAC system and water heater for added peace of mind. Move-in ready and priced to sell. Easy to show.

Key facts

• Natural light
• Easy access to parks
• $637 HOA

Tags

• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO PARKS
• EASY ACCESS TO MAJOR ROADWAYS
• SPACIOUS FUNCTIONAL LAYOUT
• NATURAL LIGHT

Property features AI

Finance

• Financial info: Pets allowed with restrictions and limits
• HOA & community: Association: Accounting Edge and Management; HOA includes laundry, parking, and a pool; HOA fee $637 monthly (covers common areas, recreation facility, and pool service)

Exterior

• Parking: Common parking; 1 open parking space (total parking: 1)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; One level; Faces northeast; Resale property
• Construction: Built with CBS construction materials; 3-story building
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating (central individual); Central air; Ceiling fan(s)
• Interior features: Walk-in closets; Smoke detector(s)
• Laundry & utility: Laundry room; Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.6% in Coral Springs — 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 79/100 on livability (#145 in FL, #2,163 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, cost of living 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: Forest Hills Elementary School (math 35% / reading 44%, grade F, #1,513 of 2,144 statewide, top 73%, 693 students, 74% FRL); Forest Glen Middle School (math 46% / reading 49%, grade C-, #288 of 571 statewide, top 51%, 1,115 students, 62% FRL); Coral Springs High School (math 16% / reading 38%, grade F, #478 of 667 statewide, top 73%, 2,320 students, 59% FRL).
• Market conditions: Rents soft (-0.0%/yr); 370 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); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• 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 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.75% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.02%
• DSCR: 1.49
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-5,822
• Equity at exit: $18,638

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-1,984
• Equity at exit: $10,808

Cash invested: $35,000 (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 33065

• Home prices YoY: -22.0%
• Rents YoY: -0.0%
• Active inventory: 370
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,187 high
• Mortgage (P&I): −$656
• Tax from tax record: −$62 /mo · $738/yr
• Insurance: −$52
• HOA: −$637
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $321

Break-even live

Break-even rent $1,780

Max offer price $125,000

Occupancy floor 80%

Sensitivity live

Price	-10% $392	-5% $357	+0% $321	+5% $286	+10% $251
Rent	-10% $149	-5% $235	+0% $321	+5% $408	+10% $494
Rate	-1.0pp $384	-0.5pp $353	base $321	+0.5pp $289	+1.0pp $256

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2980 Riverside Dr Unit 125-3 Coral Springs, FL	2.0	2.0	1179	$2,295	$1.95	25d	1	0.00mi
2980 Riverside Dr #228 Coral Springs, FL	1.0	1.5	1060	$1,525	$1.44	25d	1	0.03mi
3000 Riverside Dr Unit 201-1 Coral Springs, FL	2.0	2.0	1179	$2,100	$1.78	13d	1	0.06mi
8409 Forest Hills Dr #204 Coral Springs, FL	2.0	2.0	1068	$2,000	$1.87	8d	1	0.08mi
3062 Riverside Dr Unit 4F Coral Springs, FL	3.0	2.5	1500	$2,800	$1.87	4d	1	0.09mi
3050 Riverside Dr Coral Springs, FL	2.0	2.5	1220	$2,100	$1.72	25d	1	0.09mi
2733 Forest Hills Blvd Coral Springs, FL	1.0–2.0	1.0–2.0	1009	$2,265	$2.24	0d	6	0.10mi
2820 Riverside Dr Apt 107 Coral Springs, FL	3.0	2.0	1262	$2,450	$1.94	25d	1	0.10mi
8429 Forest Hills Dr Unit 111 Coral Springs, FL	2.0	2.0	1068	$2,000	$1.87	25d	1	0.11mi
8429 Forest Hills Dr Coral Springs, FL	2.0	2.0	1061	$2,050	$1.93	25d	2	0.11mi
2977 Riverside Dr Coral Springs, FL	2.0	2.0	1030	$2,200	$2.14	0d	1	0.14mi
8429 Forest Hills Dr #305 Coral Springs, FL	2.0	2.0	1068	$2,100	$1.97	8d	1	0.15mi
3100 Riverside Dr #103 Coral Springs, FL	3.0	2.0	1275	$2,350	$1.84	25d	1	0.16mi
3071 Riverside Dr #11 Coral Springs, FL	3.0	2.5	1465	$2,770	$1.89	25d	1	0.16mi
2851 Riverside Dr Unit 205N Coral Springs, FL	3.0	2.0	1338	$2,490	$1.86	19d	1	0.16mi
2710 Riverside Dr Unit 102A Coral Springs, FL	1.0	1.5	795	$1,650	$2.08	25d	1	0.17mi
2801 Riverside Dr Unit 401 Coral Springs, FL	3.0	2.0	1250	$2,400	$1.92	25d	1	0.18mi
8441 Forest Hills Dr #202 Coral Springs, FL	2.0	2.0	1068	$2,000	$1.87	25d	1	0.20mi
3187 Coral Lake Dr Unit 3187 Coral Springs, FL	2.0	2.0	910	$1,900	$2.09	8d	1	0.22mi
3222 Coral Lake Ln Coral Springs, FL	2.0	2.0	910	$2,100	$2.31	25d	1	0.25mi
3226 Coral Lake Ln Unit 3226 Coral Springs, FL	2.0	2.0	910	$2,100	$2.31	4d	1	0.25mi
3204 Coral Lake Ln Coral Springs, FL	1.0	1.0	720	$1,750	$2.43	25d	1	0.25mi
3226 Coral Lake Ln Unit 3226 Coral Springs, FL	2.0	2.0	910	$2,175	$2.39	12d	1	0.25mi
3188 Coral Lake Way #3188 Coral Springs, FL	1.0	1.0	720	$1,750	$2.43	25d	1	0.25mi
3188 Coral Lake Way #3188 Coral Springs, FL	1.0	1.0	720	$1,750	$2.43	6d	1	0.25mi
8576 NW 32nd St Coral Springs, FL	3.0	2.0	1133	$2,499	$2.21	18d	1	0.27mi
2652 Riverside Dr Coral Springs, FL	3.0	2.5	1270	$2,550	$2.01	25d	1	0.28mi
2652 Riverside Dr Coral Springs, FL	3.0	2.5	1270	$2,650	$2.09	12d	1	0.28mi
2652 Riverside Dr Coral Springs, FL	3.0	2.5	1270	$2,550	$2.01	13d	1	0.28mi
3351 NW 85th Ave #218 Coral Springs, FL	2.0	2.0	925	$2,100	$2.27	0d	1	0.30mi
2671 Riverside Dr #6 Coral Springs, FL	2.0	1.0	800	$1,725	$2.16	23d	1	0.31mi
2598 Riverside Dr Unit 2598 Coral Springs, FL	2.0	2.0	820	$1,600	$1.95	25d	1	0.34mi
2581 Riverside Dr Coral Springs, FL	3.0	2.5	1456	$3,000	$2.06	25d	1	0.37mi
3351 NW 86th Ave Coral Springs, FL	2.0	2.0	1050	$2,125	$2.02	25d	1	0.38mi
8811 NW 28th Dr Unit 1-2 Coral Springs, FL	2.0	1.5	800	$1,950	$2.44	25d	1	0.41mi
3031 Holiday Springs Blvd Unit 1APT 201 Margate, FL	1.0	1.5	750	$1,525	$2.03	16d	1	0.41mi
3031 Holiday Springs Blvd Margate, FL	1.0	2.0	750	$1,525	$2.03	13d	1	0.41mi
2933 NW 89th Ter Unit 6-4 Coral Springs, FL	2.0	1.0	800	$1,700	$2.12	25d	1	0.43mi
3300 Pinewalk Dr N Margate, FL	1.0–2.0	1.0–2.0	869	$1,985	$2.28	23d	2	0.45mi
3300 Pinewalk Dr N Margate, FL	1.0–2.0	1.0–2.0	869	$1,985	$2.28	0d	2	0.45mi

HOA detail condo

• Monthly dues: $637 · $7,644/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-14
   price $125,000
2. 2026-05-06
   listed $149,000 Active
3. 1987-12-31
   soldstatus $40,000
4. 1987-12-01
   soldstatus $40,000
5. 1979-03-01
   soldstatus $37,900

ⓘ 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: $738 · $62/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$299/yr (+$25/mo · 40.5%)

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

Taxation est. · year 1

• Rental income: $26,242
• − Mortgage interest: −$7,002
• − Property taxes: −$738
• − Insurance: −$625
• − Repairs & maintenance: −$2,099
• − Management: −$2,099
• − HOA: −$7,644
• − Depreciation: −$3,636
• Taxable income: $2,398
• Est. tax owed @ 24.0%: −$575
• After-tax cash flow: $3,282/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 — Coral Springs

• Score: 79/100
• State rank: #145
• US rank: #2163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coral Springs, FL
• County: Broward County · 1,963,430 people
• City population: 101,171
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,916
• Household income: $74,226
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 3488.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 33% White 30% Black 28% Two or more races 21% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 2% Dominican 3%
• Common ancestry: Hispanic 9% Romanian 2% Estonian 1%
• Foreign-born: 35% · Canada, Jamaica, China
• Languages at home: 61% English-only · Spanish 26% French/Haitian/Cajun 8% 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: ▼ -113.43%
• Current HPI: 402.3476
• Rent YoY: ▬ -0.03%
• 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

+229.8% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $125,000 Beaches MLS
• 2026-05-06 Listed $149,000 Beaches MLS
• 1987-12-31 Sold (Public Records) $40,000 Public Records
• 1987-12-01 Sold (Public Records) $40,000 Public Records
• 1979-03-01 Sold (Public Records) $37,900 Public Records

Property tax history

+4.6%/yr

Latest (2025): $738 · +5.3% YoY. Source: county tax records.