3985 W Mcnab Rd Unit A111

Pompano Beach, FL 33069

$142,000D+

1 bd · 1.0 ba · 633 sqft · Built 1992 · Condo · Active · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,657/mo
• Mortgage (P&I): −$745
• Tax + insurance: −$237
• HOA: −$343
• Vac / Maint / Mgmt: −$348
• Net cashflow: $-15/mo
• Annual: $-185/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• 1% rule: 1.17%
• Cash to close: $39,760

Investor read

• This is a 1-bed/1.0-bath condo listed at $142k. Condition is rated fair.
• At list price, monthly cash flow is $-15 ($-185/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (1.6% below list).
• Meets the 1% rule at list price ($2k rent vs $142k).
• It's been on market 198 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#284 in FL, #4,541 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: employment D+, amenities 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% 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 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents soft (-0.3%/yr); 642 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 since 2y ago 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.
• Cap rate 6.2% vs local median 2.9% in Pompano Beach — 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.
• This rent runs 33% of the median local income ($60k/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 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets appear to be in good condition with no visible damage.
• Minor: Bathroom fixtures — The fixtures appear to be in good condition with no visible damage.
• Minor: Kitchen countertops — The countertops appear to be in good condition with no visible damage.
• Minor: Bathroom walls — The walls appear to be in good condition with no visible damage.