4160 NW 21st St #246

Lauderhill, FL 33313

$98,500C-

1 bd · 1.0 ba · 740 sqft · Built 2006 · Condo · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,491/mo
• Mortgage (P&I): −$517
• Tax + insurance: −$316
• HOA: −$513
• Vac / Maint / Mgmt: −$313
• Net cashflow: $-168/mo
• Annual: $-2,019/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• 1% rule: 1.51%
• Cash to close: $27,580

Investor read

• This is a 1-bed/1.0-bath condo listed at $98k. Condition is rated good.
• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $74k (24.7% below list).
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 114 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (24.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k 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: 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.
• Zoned schools: Castle Hill Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 562 students, 86% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Boyd H. Anderson High School (math 10% / reading 14%, grade F, #622 of 667 statewide, top 93%, 2,038 students, 72% FRL) — zoned schools average 75% FRL vs 51% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $152/mo; HOA is 34% of rent.
• Market conditions: Rents flat; 876 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 72d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 4.2% 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.
• This rent runs 39% of the median local income ($46k/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 114 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• 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.
• 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?