1106 Bahama Bnd Unit D1

Coconut Creek, FL 33066

$99,999D

1 bd · 1.0 ba · 480 sqft · Built 1975 · Condo · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,469/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$186
• HOA: −$538
• Vac / Maint / Mgmt: −$308
• Net cashflow: $-88/mo
• Annual: $-1,061/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• 1% rule: 1.47%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $100k.
• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (15.6% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 125 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (15.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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.
• Watch-outs: HOA is 37% of rent.
• Market conditions: Rents soft (-0.9%/yr); 326 active listings in the ZIP; 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 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $100k implies a 61% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% 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 31% of the median local income ($57k/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 125 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?