881 NW 208th Dr · Pembroke Pines, FL 33029

$429,900

3 bd · 3.0 ba · 1,468 sqft · Townhouse public records · 19 Days on market

Built 1999 Est $464k · 7% under $190/mo HOA · 5% of rent

---

Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +10.8/15.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful turnkey home located in sought after Malibu Bay at Chapel Trail. Well maintained and move in ready with spacious living areas, abundant natural light, and a functional layout perfect for families or entertaining. Enjoy a gated community with resort style amenities and access to top rated schools. Prime Pembroke Pines location near parks, shopping, dining, major highways, and entertainment. Excellent opportunity to own in one of West Broward’s most desirable communities. Malibu Bay HOA $190 monthly. Chapel Trail master HOA $412 quarterly.

Key facts

• Turnkey home
• Gated community
• Top rated schools

Tags

• TURNKEY HOME
• GATED COMMUNITY
• RESORT STYLE AMENITIES
• TOP RATED SCHOOLS
• PRIME PEMBROKE PINES LOCATION
• NEAR PARKS

Property features AI

Finance

• Other: Pets allowed (no restrictions)
• HOA & community: Monthly association fee ($190); Association covers amenities, common areas, grounds maintenance, roof, security; Association amenities include clubhouse, fitness center, storage, and trails

Exterior

• Parking: Guest parking; Two or more parking spaces
• Security: Fire alarm; Security guard
• Utilities: Electric power
• Home design: 2 stories; Resale property; Has attached property; Entry at level 1
• Construction: Block construction
• Exterior features: Enclosed porch; Storm/security shutters; Screened porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: Primary bedroom on upper level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: First-floor entry; Upper-level primary bedroom; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $430k.

Deal economics

• At list price, monthly cash flow is $-7 ($-80/yr) — negative.
• To cash-flow at today's rent, offer at most $429k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $374k (12.9% below list).
• Recommended offer: $374k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.0% in Pembroke Pines — 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 83/100 on livability (#54 in FL, #933 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime 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.
• 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); West Broward High School (math 46% / reading 69%, grade C, #125 of 667 statewide, top 19%, 2,586 students, 33% FRL).
• Market conditions: Rents soft (-1.2%/yr); 246 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 31% of the median local income ($146k/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 $3k of loan paydown is wiped out by about $13k 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 ($423k) is reasonable based on typical stale-listing flexibility.
• 2 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 $220k; list at $430k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $374,350 (12.9% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $463,888
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
566 NW 208th Way #566	0.13mi	3/2.5	1,468 (0%)	24mo	$450,000	$307	72
756 NW 208th Way	0.08mi	3/2.5	1,361 (-7%)	20mo	$430,000	$316	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.8%
• Equity multiple: 0.33×
• Total profit: $-81,004
• Equity at exit: $64,099

10-year hold

• IRR: -20.9%
• Equity multiple: 0.06×
• Total profit: $-113,268
• Equity at exit: $37,170

Cash invested: $120,372 (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 33029

• Home prices YoY: -18.3%
• Rents YoY: -1.2%
• Active inventory: 246
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,744 high
• Mortgage (P&I): −$2,254
• Tax from tax record: −$340 /mo · $4,085/yr
• Insurance: −$179
• HOA: −$190
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $-7

Break-even live

Break-even rent $3,752

Max offer price $428,726

Occupancy floor 95%

Sensitivity live

Price	-10% $237	-5% $115	+0% $-7	+5% $-128	+10% $-250
Rent	-10% $-302	-5% $-155	+0% $-7	+5% $141	+10% $289
Rate	-1.0pp $210	-0.5pp $103	base $-7	+0.5pp $-118	+1.0pp $-231

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: $107,475
• Closing costs: $12,897
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20875 NW 4th St Pembroke Pines, FL	2.0	2.5	1361	$2,500	$1.84	26d	1	0.22mi
20861 NW 4th St Pembroke Pines, FL	3.0	2.5	1361	$4,000	$2.94	26d	1	0.23mi
20901 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,300	$1.95	26d	1	0.37mi
20901 NW 1st Dr Unit 1 Pembroke Pines, FL	3.0	2.5	1692	$3,200	$1.89	26d	1	0.37mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	14d	1	0.37mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	26d	1	0.37mi
20908 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,500	$2.07	26d	1	0.39mi
20957 NW 1st Ct Unit 20957 Pembroke Pines, FL	3.0	2.5	1749	$2,900	$1.66	26d	1	0.42mi
20975 NW 1st Ct Pembroke Pines, FL	3.0	2.5	1692	$3,600	$2.13	26d	1	0.42mi
210 NW 207th Way Pembroke Pines, FL	3.0	2.0	1620	$3,395	$2.10	1d	1	0.43mi
20841 NW 1st St Pembroke Pines, FL	3.0	2.0	1225	$3,500	$2.86	26d	1	0.43mi
117 NW 209th Trl Pembroke Pines, FL	4.0	3.0	1617	$3,600	$2.23	26d	1	0.45mi
20807 NW 1st St #20807 Pembroke Pines, FL	2.0	2.5	1361	$2,650	$1.95	18d	1	0.46mi
20930 NW 1st St Pembroke Pines, FL	3.0	3.0	1617	$3,600	$2.23	9d	1	0.47mi
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	26d	1	0.71mi
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	6d	1	0.71mi
20541 SW 2nd St Pembroke Pines, FL	3.0	3.0	1694	$5,500	$3.25	0d	1	0.79mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	18d	1	0.86mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	14d	1	0.86mi

HOA detail

• Monthly dues: $190 · $2,280/yr
• Likely covers: security

Listing history 15 events

1. 2026-06-08
   statusdays on market $429,900 Pending 19 DOM
2. 2026-06-07
   days on market $429,900 Active 18 DOM
3. 2026-06-04
   days on market $429,900 Active 15 DOM
4. 2026-06-03
   days on market $429,900 Active 14 DOM
5. 2026-06-02
   days on market $429,900 Active 13 DOM
6. 2026-06-01
   days on market $429,900 Active 12 DOM
7. 2026-05-31
   days on market $429,900 Active 11 DOM
8. 2026-05-20
   listed $429,900 Active
9. 2026-03-31
   historical
10. 2025-12-27
    price $434,900
11. 2025-10-30
    price $432,900
12. 2025-09-26
    listed $434,900 Active
13. 2015-08-10
    soldstatus $220,000
14. 2009-05-11
    soldstatus $147,500
15. 2004-02-23
    soldstatus $178,900

ⓘ 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: $4,085 · $340/mo
• Projected year-2 tax: $4,085 · $340/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,922
• − Mortgage interest: −$24,081
• − Property taxes: −$4,085
• − Insurance: −$2,150
• − Repairs & maintenance: −$3,594
• − Management: −$3,594
• − HOA: −$2,280
• − Depreciation: −$12,506
• Taxable loss: −$7,368
• Est. tax savings @ 24.0%: +$1,768
• After-tax cash flow: $1,688/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 — Pembroke Pines

• Score: 83/100
• State rank: #54
• US rank: #933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pembroke Pines, FL
• County: Broward County · 1,963,430 people
• City population: 180,224
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 44,070
• Household income: $146,237
• Rent vs Own: 10.2% rent · 89.8% own
• Severe rent burden: 307.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 43% Two or more races 29% White 27% Black 20% Asian 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 14% Dominican 3%
• Common ancestry: Hispanic 2% Russian 1% Estonian 1%
• Foreign-born: 33% · Canada, Jamaica, China
• Languages at home: 53% English-only · Spanish 38% Other Indo-European 4% French/Haitian/Cajun 2%

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: ▼ -83.68%
• Current HPI: 373.7752
• Rent YoY: ▼ -1.17%
• 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

+140.3% since first listed

8 events — show timeline

• 2026-05-20 Listed $429,900 MARMLS
• 2026-03-31 Listing Removed — Beaches MLS
• 2025-12-27 Price Changed $434,900 Beaches MLS
• 2025-10-30 Price Changed $432,900 Beaches MLS
• 2025-09-26 Listed $434,900 Beaches MLS
• 2015-08-10 Sold (Public Records) $220,000 Public Records
• 2009-05-11 Sold (Public Records) $147,500 Public Records
• 2004-02-23 Sold (Public Records) $178,900 Public Records

Property tax history

+10.8%/yr

Latest (2025): $4,085 · +2.8% YoY. Source: county tax records.