11812 Royal Palm Blvd

Coral Springs, FL 33065

$299,000D+

3 bd · 3.0 ba · 1,522 sqft · Built 1995 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,684/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$310
• HOA: −$325
• Vac / Maint / Mgmt: −$564
• Net cashflow: $-83/mo
• Annual: $-997/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• 1% rule: 0.90%
• Cash to close: $83,720

Investor read

• This is a 3-bed/3.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $-83 ($-997/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (10.2% below list).
• It's been on market 44 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $268k (10.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#145 in FL, #2,163 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, cost of living 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: Westchester Elementary School (math 50% / reading 63%, grade C+, #816 of 2,144 statewide, top 39%, 1,123 students, 59% FRL); Sawgrass Springs Middle School (math 46% / reading 51%, grade C-, #274 of 571 statewide, top 50%, 1,073 students, 56% FRL); Coral Glades High School (math 24% / reading 46%, grade F, #379 of 667 statewide, top 58%, 2,762 students, 58% FRL).
• Market conditions: Rents soft (-0.0%/yr); 365 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $145k; list at $299k implies a 106% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 3.6% in Coral Springs — 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 43% of the median local income ($74k/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 44 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.