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Tamarac, FL 33321

$260,500D-

2 bd · 2.0 ba · 1,480 sqft · Built 1984 · Townhouse · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,534/mo
• Mortgage (P&I): −$1,366
• Tax + insurance: −$434
• HOA: −$995
• Vac / Maint / Mgmt: −$532
• Net cashflow: $-793/mo
• Annual: $-9,518/yr
• Cap rate: 2.64%
• Cash-on-cash: -13.05%
• DSCR: 0.42
• 1% rule: 0.97%
• Cash to close: $72,940

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $260k. Condition is rated good.
• At list price, monthly cash flow is $-793 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (44.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (2.7% below list).
• It's been on market 196 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (44.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#239 in FL, #3,785 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute 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); J. P. Taravella High School (math 19% / reading 45%, grade F, #415 of 667 statewide, top 63%, 2,586 students, 54% FRL).
• Watch-outs: HOA is 39% of rent.
• Market conditions: Rents soft (-1.9%/yr); 804 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 79d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% 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.
• Climate carrying-cost: 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 2.6% vs local median 3.9% in Tamarac — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $2,534/mo this rent would consume 49% of the median local household income ($62k/yr) (locally 28% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 196 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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?
• 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.