310 SW 27th Ter Unit 1-2

Fort Lauderdale, FL 33312

$450,000C+

4 bd · 3.0 ba · 2,140 sqft · Built 1964 · MultiFamily · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,423/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$835
• HOA: −$0
• Vac / Maint / Mgmt: −$1,139
• Net cashflow: $1,089/mo
• Annual: $13,068/yr
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• 1% rule: 1.21%
• Cash to close: $126,000

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $450k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $545/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• It's been on market 41 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#78 in FL, #1,293 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: 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: Westwood Heights Elementary School (math 18% / reading 26%, grade F, #2,080 of 2,144 statewide, top 97%, 522 students, 87% FRL); Parkway Middle School (math 25% / reading 40%, grade F, #443 of 571 statewide, top 78%, 1,198 students, 83% FRL); Stranahan High School (math 18% / reading 36%, grade F, #478 of 667 statewide, top 73%, 1,438 students, 77% FRL) — zoned schools average 82% FRL vs 51% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 48% district-wide (-20 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 (+1.3%/yr); 412 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• Current owner paid $74k; list at $450k implies a 508% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.2% vs local median 2.2% in Fort Lauderdale — 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.
• At $5,423/mo this rent would consume 86% of the median local household income ($76k/yr) (locally 1903% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.
• 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.