20869 NW 2nd St #1 · Pembroke Pines, FL 33029

$387,000

2 bd · 2.5 ba · 1,361 sqft · Townhouse · 12 Days on market

Built 1999 Est $430k · 10% under $142/mo HOA · 4% of rent

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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 +12.8/30.0
• ARV discount +12.0/15.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Very well maintained townhome located at Malibu Bay, part of Chapel Trail and just off Pines Blvd and close to US27. Excellent schools. two parking spaces in front of property. Downstairs is tiled, containing kitchen, half bathroom, laundrya re and great room. Upstairs contains two master bedrooms with closets and private bathrooms. Laminate flooring.

Key facts

• Laminate flooring
• Private bathrooms
• Two parking spaces

Tags

• TWO PARKING SPACES
• TILED DOWNSTAIRS
• PRIVATE BATHROOMS
• LAMINATE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $387k.

Deal economics

• At list price, monthly cash flow is $-35 ($-420/yr) — negative.
• To cash-flow at today's rent, offer at most $382k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $352k (9.0% below list).
• Recommended offer: $352k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $352,081 (9.0% 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: 0.91% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $430,076
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
756 NW 208th Way	0.32mi	3/2.5 (+1)	1,361 (0%)	20mo	$430,000	$316	64
566 NW 208th Way #566	0.25mi	3/2.5 (+1)	1,468 (+8%)	24mo	$450,000	$307	50

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: -20.5%
• Equity multiple: 0.31×
• Total profit: $-75,119
• Equity at exit: $57,703

10-year hold

• IRR: -22.9%
• Equity multiple: 0.01×
• Total profit: $-107,591
• Equity at exit: $33,461

Cash invested: $108,360 (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: 9.2×

Monthly cashflow live

• Estimated rent: $3,521 high
• Mortgage (P&I): −$2,029
• Tax est. 1.5%: −$484 /mo · $5,805/yr
• Insurance: −$161
• HOA: −$142
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $-35

Break-even live

Break-even rent $3,565

Max offer price $381,931

Occupancy floor 96%

Sensitivity live

Price	-10% $232	-5% $99	+0% $-35	+5% $-169	+10% $-302
Rent	-10% $-313	-5% $-174	+0% $-35	+5% $104	+10% $243
Rate	-1.0pp $160	-0.5pp $63	base $-35	+0.5pp $-135	+1.0pp $-237

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: $96,750
• Closing costs: $11,610
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20901 NW 1st Dr Unit 1 Pembroke Pines, FL	3.0	2.5	1692	$3,200	$1.89	26d	1	0.08mi
20901 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,300	$1.95	26d	1	0.08mi
20841 NW 1st St Pembroke Pines, FL	3.0	2.0	1225	$3,500	$2.86	26d	1	0.08mi
20908 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1692	$3,500	$2.07	26d	1	0.09mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	14d	1	0.10mi
20919 NW 1st Dr Pembroke Pines, FL	3.0	2.5	1749	$3,600	$2.06	26d	1	0.10mi
20861 NW 4th St Pembroke Pines, FL	3.0	2.5	1361	$4,000	$2.94	26d	1	0.13mi
20875 NW 4th St Pembroke Pines, FL	2.0	2.5	1361	$2,500	$1.84	26d	1	0.14mi
20807 NW 1st St #20807 Pembroke Pines, FL	2.0	2.5	1361	$2,650	$1.95	18d	1	0.14mi
210 NW 207th Way Pembroke Pines, FL	3.0	2.0	1620	$3,395	$2.10	1d	1	0.15mi
20930 NW 1st St Pembroke Pines, FL	3.0	3.0	1617	$3,600	$2.23	9d	1	0.17mi
20957 NW 1st Ct Unit 20957 Pembroke Pines, FL	3.0	2.5	1749	$2,900	$1.66	26d	1	0.19mi
20975 NW 1st Ct Pembroke Pines, FL	3.0	2.5	1692	$3,600	$2.13	26d	1	0.20mi
20541 SW 2nd St Pembroke Pines, FL	3.0	3.0	1694	$5,500	$3.25	0d	1	0.48mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	18d	1	0.54mi
387 SW 206th Ave Pembroke Pines, FL	3.0	2.0	1453	$3,500	$2.41	14d	1	0.54mi
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	26d	1	0.69mi
21821 S Heritage Cir #1 Pembroke Pines, FL	3.0	3.0	1475	$2,550	$1.73	6d	1	0.69mi
18426 SW 2nd St Pembroke Pines, FL	3.0	2.5	1536	$3,950	$2.57	17d	1	1.35mi

HOA detail

• Monthly dues: $142 · $1,704/yr

Listing history 5 events

1. 2026-03-23
   status Pending
2. 2026-01-07
   listed $387,000 Active
3. 2026-01-01
   historical $2,550
4. 2025-12-04
   price $2,550
5. 2025-10-09
   listed $2,650

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 26 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: $42,250
• − Mortgage interest: −$21,678
• − Property taxes: −$5,805
• − Insurance: −$1,935
• − Repairs & maintenance: −$3,380
• − Management: −$3,380
• − HOA: −$1,704
• − Depreciation: −$11,258
• Taxable loss: −$6,890
• Est. tax savings @ 24.0%: +$1,654
• After-tax cash flow: $1,233/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

+14503.8% since first listed

5 events — show timeline

• 2026-03-23 Pending — Beaches MLS
• 2026-01-07 Listed $387,000 Beaches MLS
• 2026-01-01 Rental Removed $2,550 GFLMLS
• 2025-12-04 Price Changed $2,550 GFLMLS
• 2025-10-09 Listed for Rent $2,650 GFLMLS