2 bd · 2.0 ba ·
1,090 sqft ·
Built 1980
· Condo
· Active
· 147 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,071/mo
Mortgage (P&I)
−$367
Tax + insurance
−$400
HOA
−$509
Vac / Maint / Mgmt
−$435
Net cashflow
$361/mo
Annual
$4,331/yr
Cap rate
15.10%
Cash-on-cash
31.45%
DSCR
2.40
1% rule
2.96%
Cash to close
$19,572
Investor read
This is a 2-bed/2.0-bath condo listed at $70k.
At list price, monthly cash flow is $361 ($4k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $70k).
It's been on market 147 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
Location reads 83/100 on livability (#56 in FL, #986 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, 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.
Watch-outs: property tax is 3.7% of price; flood insurance adds $152/mo; HOA is 25% of rent.
Market conditions: Rents flat; 656 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $24k; list at $70k implies a 191% gain — meaningful room to come down on a strong offer.
At projected returns (-3.0% appreciation + 0.3% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.
Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 15.1% vs local median 4.9% in Sunrise — 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 $2,071/mo this rent would consume 54% of the median local household income ($46k/yr) (locally 5692% 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 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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.
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.
CashFlowRE · CFR-H8F2PREC4XA2N7
· Data 2 days agocashflowre.app · 2026-05-29