200 SW 132nd Way Unit 104L · Pembroke Pines, FL 33027

$140,000

2 bd · 1.5 ba · 954 sqft · Condo · 182 Days on market

Built 1985 $580/mo HOA · 29% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.8/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Appreciation +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautiful condo in the heart of Pembroke Pines. Enjoy resort style living with everything near by and transportation available. Investors of any age welcome, but at least 1 occupant must be 55+. Credit score must be 650+ for all applicants.

Key facts

• $580 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Association pool
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee: $580; Additional monthly association fee: $260; Association covers common areas, cable TV, golf, insurance, roof, and security; Association amenities include billiard room, business center, clubhouse, fitness center, laundry, pool, and transportation service; Senior community

Exterior

• Parking: Detached garage with two or more spaces
• Security: Security system; Fire alarm; Key card entry; Phone entry; Security guard
• Utilities: Cable available
• Home design: 4-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Dishwasher; Disposal
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric and gas)
• Interior features: First floor entry; Other
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $12 ($145/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 4.0% in Pembroke Pines — 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.

Location & tenants

• Location reads 83/100 on livability (#54 in FL, #933 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, schools A-; Watch: amenities D+, cost of living D+.
• 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.
• Market conditions: Rents soft (-0.2%/yr); 543 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); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 31% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask is 7900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 6.40%
• Cash-on-cash: 0.37%
• DSCR: 1.02
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.01% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.45×
• Total profit: $-21,454
• Equity at exit: $27,110

10-year hold

• IRR: -14.0%
• Equity multiple: 0.15×
• Total profit: $-33,255
• Equity at exit: $23,091

Cash invested: $39,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33027

• Home prices YoY: -0.6%
• Rents YoY: -0.2%
• Active inventory: 543
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$580
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $12

Break-even live

Break-even rent $1,959

Max offer price $140,000

Occupancy floor 94%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 SW 132nd Way Pembroke Pines, FL	1.0–2.0	1.5	882	$1,750	$1.98	4d	2	0.00mi
101 SW 132nd Way Pembroke Pines, FL	1.0	1.5	811	$1,550	$1.91	22d	2	0.06mi
101 SW 132nd Way Unit 315J Pembroke Pines, FL	1.0	1.5	811	$1,600	$1.97	18d	1	0.06mi
101 SW 132nd Way Unit 415J Pembroke Pines, FL	1.0	1.5	811	$1,500	$1.85	7d	1	0.06mi
100 SW 132nd Way Unit 303K Pembroke Pines, FL	1.0	1.5	811	$1,500	$1.85	15d	1	0.06mi
100 SW 132nd Way Pembroke Pines, FL	1.0	1.5	811	$1,488	$1.83	22d	2	0.06mi
13300 SW 1st St Pembroke Pines, FL	1.0	1.5	811	$1,510	$1.86	3d	2	0.07mi
251 SW 132nd Way Unit 204H Pembroke Pines, FL	1.0	1.5	811	$1,700	$2.10	24d	1	0.07mi
251 SW 134th Way Pembroke Pines, FL	1.0–2.0	1.5	882	$1,645	$1.86	7d	2	0.10mi
251 SW 134th Way Unit 210M Pembroke Pines, FL	2.0	1.5	954	$1,645	$1.72	22d	1	0.10mi
400 SW 134th Way Unit 302F Pembroke Pines, FL	2.0	2.0	1044	$2,000	$1.92	7d	1	0.12mi
400 SW 134th Way Pembroke Pines, FL	1.0–2.0	1.5–2.0	927	$2,000	$2.16	24d	3	0.12mi
400 SW 134th Way Pembroke Pines, FL	1.0–2.0	1.5–2.0	927	$2,000	$2.16	10d	2	0.12mi
150 SW 134th Way Pembroke Pines, FL	2.0	1.5–2.0	1060	$1,800	$1.70	24d	2	0.17mi
13455 SW 3rd St Unit 309S Pembroke Pines, FL	1.0	1.5	811	$1,700	$2.10	24d	1	0.19mi
13401 NW 5th St Pembroke Pines, FL	1.0–3.0	1.0–2.5	1126	$2,940	$2.61	1d	13	0.19mi
13500 SW 1st St Pembroke Pines, FL	2.0	1.5	954	$1,750	$1.83	5d	2	0.21mi
13500 SW 1st St Pembroke Pines, FL	2.0	1.5	954	$1,750	$1.83	24d	2	0.21mi
151 SW 135th Ter Unit 108T Pembroke Pines, FL	1.0	1.0	685	$1,600	$2.34	2d	1	0.23mi
250 NW 130th Ave Pembroke Pines, FL	1.0–3.0	1.0–2.0	1123	$2,606	$2.32	2d	16	0.25mi
551 SW 135th Ave Unit 405B Pembroke Pines, FL	2.0	1.5	953	$1,700	$1.78	24d	1	0.28mi
13255 SW 7th Ct Unit 305D Pembroke Pines, FL	2.0	1.5	953	$1,850	$1.94	24d	1	0.29mi
13255 SW 7th Ct Unit 406D Pembroke Pines, FL	2.0	1.5	953	$1,850	$1.94	7d	1	0.29mi
13155 SW 7th Ct Unit 402E Pembroke Pines, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.31mi
13250 SW 7th Ct Unit 402L Pembroke Pines, FL	2.0	2.0	1044	$1,750	$1.68	15d	1	0.32mi
13250 SW 7th Ct Unit 402L Pembroke Pines, FL	2.0	2.0	1044	$1,750	$1.68	2d	1	0.32mi
301 SW 135th Ave Unit 415C Pembroke Pines, FL	1.0	1.5	811	$1,650	$2.03	22d	1	0.34mi
800 SW 131st Ave Unit 311F Pembroke Pines, FL	1.0	1.5	811	$1,800	$2.22	24d	1	0.37mi
850 SW 133rd Ter Unit B406 Pembroke Pines, FL	2.0	1.5	953	$1,900	$1.99	24d	1	0.38mi
850 SW 133rd Ter Unit 106B Pembroke Pines, FL	2.0	1.5	953	$1,975	$2.07	22d	1	0.38mi
801 SW 133rd Ter Unit 401K Pembroke Pines, FL	1.0	1.0	960	$1,850	$1.93	24d	1	0.38mi
850 SW 133rd Ter Pembroke Pines, FL	2.0	1.5	953	$1,938	$2.03	20d	2	0.38mi
850 SW 133rd Ter Pembroke Pines, FL	2.0	1.5	953	$1,938	$2.03	1d	2	0.38mi
13255 SW 9th Ct Unit 402G Pembroke Pines, FL	2.0	2.0	1044	$1,800	$1.72	24d	1	0.40mi
13255 SW 9th Ct Unit 202G Pembroke Pines, FL	2.0	2.0	1044	$1,790	$1.71	17d	1	0.40mi
13355 SW 9th Ct Unit 317H Pembroke Pines, FL	2.0	2.0	1044	$1,975	$1.89	5d	1	0.42mi
13475 SW 9th St Unit 407A Pembroke Pines, FL	1.0	1.0	685	$1,550	$2.26	24d	1	0.42mi
13455 SW 9th Ct Pembroke Pines, FL	1.0	1.5	811	$1,685	$2.08	22d	2	0.45mi
12750 SW 4th Ct Unit 114J Pembroke Pines, FL	1.0	1.0	840	$1,950	$2.32	24d	1	0.46mi
12800 SW 7th Ct Pembroke Pines, FL	1.0–2.0	1.0–2.0	1173	$2,300	$1.96	5d	3	0.46mi

HOA detail condo

• Monthly dues: $580 · $6,960/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $140,000 Active 182 DOM
2. 2026-06-17
   days on market $140,000 Active 181 DOM
3. 2026-06-16
   days on market $140,000 Active 180 DOM
4. 2026-06-15
   days on market $140,000 Active 179 DOM
5. 2026-06-13
   days on market $140,000 Active 177 DOM
6. 2026-06-09
   days on market $140,000 Active 173 DOM
7. 2026-06-07
   days on market $140,000 Active 171 DOM
8. 2026-06-04
   days on market $140,000 Active 168 DOM
9. 2026-06-03
   days on market $140,000 Active 167 DOM
10. 2026-06-02
    days on market $140,000 Active 166 DOM
11. 2026-06-01
    days on market $140,000 Active 165 DOM
12. 2026-05-31
    days on market $140,000 Active 164 DOM
13. 2026-03-29
    listed $1,750
14. 2025-12-17
    listed $140,000 Active
15. 2025-12-12
    historical
16. 2024-09-17
    listed $179,999 Active
17. 2024-09-13
    historical
18. 2023-12-02
    price $200,000
19. 2023-10-23
    listed $210,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,690
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − HOA: −$6,960
• − Depreciation: −$4,073
• Taxable loss: −$1,775
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $571/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Broward
• NCES district ID: 1200180
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $52,139
• Composite: 40.88/100
• National rank: #3621
• State rank: #46 of 73 in FL

Livability — Pembroke Pines

• Score: 83/100
• State rank: #54
• US rank: #933

Category grades

Amenities D+ Commute A- Cost of living D+ Crime A- Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pembroke Pines, FL
• County: Broward County · 1,963,430 people
• City population: 180,224
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,116
• Household income: $76,561
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 1728.0

Population outlook (Broward County) Hauer SSP2

• Today (2025): 2,207,033 people
• By 2030: 2,360,704 · +7.0%
• By 2040: 2,661,208 · +20.6%
• By 2050: 2,946,698 · +33.5%
• By 2075: 3,602,273 · +63.2%
• By 2100: 3,970,984 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 23% Black 22% White 16% Asian 6%
• Hispanic origin (detail): Puerto Rican 6% Cuban 19% Dominican 3%
• Common ancestry: Hispanic 6% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, Jamaica, Vietnam
• Languages at home: 40% English-only · Spanish 47% French/Haitian/Cajun 5% Other Indo-European 2%

Political lean MEDSL · Broward

• 2024 margin: D (+17.0) · D 58.0% · R 41.0%
• 2008→2024 swing: -17.8pp toward R · 2008: 34.7pp · 2024: 17.0pp
• All cycles: 2024: D+17.0 2020: D+29.8 2016: D+35.0 2012: D+34.9 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.01%
• Current HPI: 359.5973
• Rent YoY: ▼ -0.20%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-99.2% since first listed

7 events — show timeline

• 2026-03-29 Listed for Rent $1,750 MARMLS
• 2025-12-17 Listed $140,000 MARMLS
• 2025-12-12 Listing Removed — MARMLS
• 2024-09-17 Listed $179,999 MARMLS
• 2024-09-13 Listing Removed — MARMLS
• 2023-12-02 Price Changed $200,000 MARMLS
• 2023-10-23 Listed $210,000 MARMLS