200 Berkley Rd #202

Hollywood, FL 33024

$145,000D+

2 bd · 2.0 ba · 940 sqft · Built 1980 · Condo · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,180/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$426
• HOA: −$545
• Vac / Maint / Mgmt: −$458
• Net cashflow: $-9/mo
• Annual: $-109/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• 1% rule: 1.50%
• Cash to close: $40,600

Investor read

• This is a 2-bed/2.0-bath condo listed at $145k.
• At list price, monthly cash flow is $-9 ($-109/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (1.1% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $143k (1.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#232 in FL, #3,548 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime B+; Watch: amenities 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: Driftwood Elementary School (math 26% / reading 41%, grade F, #1,758 of 2,144 statewide, top 83%, 522 students, 73% FRL); Driftwood Middle School (math 34% / reading 45%, grade F, #373 of 571 statewide, top 66%, 1,136 students, 71% FRL); Hollywood Hills High School (math 14% / reading 31%, grade F, #539 of 667 statewide, top 81%, 1,718 students, 68% FRL) — zoned schools average 71% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 3.0% of price; HOA is 25% of rent.
• Market conditions: Rents rising (+1.0%/yr); 326 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $98k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.2% vs local median 3.2% in Hollywood — 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 ($80k/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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.