2 bd · 2.0 ba ·
1,032 sqft ·
Built 1980
· Condo
· Active
· 90 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,063/mo
Mortgage (P&I)
−$708
Tax + insurance
−$543
HOA
−$525
Vac / Maint / Mgmt
−$433
Net cashflow
$-146/mo
Annual
$-1,754/yr
Cap rate
6.34%
Cash-on-cash
0.19%
DSCR
1.01
1% rule
1.53%
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 $-146 ($-2k/yr) — negative.
To cash-flow at today's rent, offer at most $109k (19.1% below list).
Meets the 1% rule at list price ($2k rent vs $135k).
It's been on market 90 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $109k (19.1% below list) — sets the bar for cash-flow.
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 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: Challenger Elementary School (math 37% / reading 53%, grade D-, #1,271 of 2,144 statewide, top 60%, 909 students, 62% 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: property tax is 3.0% of price; flood insurance adds $152/mo; HOA is 25% of rent.
Market conditions: Rents soft (-1.9%/yr); 588 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $82k; list at $135k implies a 65% gain — meaningful room to come down on a strong offer.
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 6.3% vs local median 3.9% in Tamarac — 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 40% of the median local income ($62k/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?
It's been on market 90 days. Have you received any prior offers? Is the seller open to a 19% 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.
CashFlowRE · CFR-M64FCYET0FX25F
· Data 1 week agocashflowre.app · 2026-05-29