3319 NW 64th Ct

Coconut Creek, FL 33073

$125,000B+

2 bd · 2.0 ba · 1,200 sqft · Built 1981 · Manufactured · Pending · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,783/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$584
• Net cashflow: $1,335/mo
• Annual: $16,019/yr
• Cap rate: 19.11%
• Cash-on-cash: 45.77%
• DSCR: 3.04
• 1% rule: 2.23%
• Cash to close: $35,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $125k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• It's been on market 80 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-0.8%/yr); year-one equity from $864 of loan paydown is wiped out by about $964 of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#30 in FL, #617 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Tradewinds Elementary School (math 49% / reading 55%, grade C-, #990 of 2,144 statewide, top 48%, 972 students, 60% FRL); Lyons Creek Middle School (math 49% / reading 53%, grade C, #237 of 571 statewide, top 43%, 1,757 students, 60% FRL); Monarch High School (math 26% / reading 50%, grade F, #328 of 667 statewide, top 50%, 2,344 students, 54% FRL).
• Market conditions: Rents rising (+1.6%/yr); 155 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $125k implies a 594% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.8% appreciation + 1.6% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 19.1% vs local median 3.7% in Coconut Creek — 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 34% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.