2 bd · 2.0 ba ·
1,400 sqft ·
Built 1975
· Condo
· Active
· 82 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$4,238/mo
Mortgage (P&I)
−$1,384
Tax + insurance
−$1,128
HOA
−$1,050
Vac / Maint / Mgmt
−$890
Net cashflow
$-214/mo
Annual
$-2,570/yr
Cap rate
7.26%
Cash-on-cash
3.45%
DSCR
1.15
1% rule
1.61%
Cash to close
$73,920
Investor read
This is a 2-bed/2.0-bath condo listed at $264k.
At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
To cash-flow at today's rent, offer at most $226k (14.3% below list).
Meets the 1% rule at list price ($4k rent vs $264k).
It's been on market 82 days — a 6% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $226k (14.3% below list) — sets the bar for cash-flow.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
Location reads 81/100 on livability (#86 in FL, #1,400 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, crime B+; Watch: schools C-, employment 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.
Watch-outs: property tax is 2.7% of price; flood insurance adds $427/mo; HOA is 25% of rent.
Market conditions: Rents flat; 1373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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.
15 sale attempts since 3y ago; this cycle's ask is 11378% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
Current owner paid $92k; list at $264k implies a 187% gain — meaningful room to come down on a strong offer.
Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 7.3% vs local median 5.2% in Hallandale Beach — 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.
At $4,238/mo this rent would consume 98% of the median local household income ($52k/yr) (locally 3293% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.
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 82 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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)?
CashFlowRE · CFR-SYM68KBRQ2DMF0
· Data 2 weeks agocashflowre.app · 2026-05-29