1750 NW 55th Ave #103

Lauderhill, FL 33313

$135,000C-

2 bd · 2.0 ba · 1,003 sqft · Built 1975 · Condo · Active · 348 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,206/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$363
• HOA: −$564
• Vac / Maint / Mgmt: −$463
• Net cashflow: $107/mo
• Annual: $1,285/yr
• Cap rate: 7.24%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• 1% rule: 1.63%
• Cash to close: $37,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $135k.
• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 348 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#139 in FL, #2,059 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, employment D, 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 2.7% of price; HOA is 26% of rent.
• Market conditions: Rents flat; 664 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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.
• 4 sale attempts since 2y ago; this cycle's ask is 7400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $83k; list at $135k implies a 63% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 4.3% in Lauderhill — 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 $2,206/mo this rent would consume 57% 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 348 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?