9460 Poinciana Pl #101

Davie, FL 33324

$157,900D

1 bd · 1.0 ba · 800 sqft · Built 1978 · Condo · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,045/mo
• Mortgage (P&I): −$828
• Tax + insurance: −$339
• HOA: −$581
• Vac / Maint / Mgmt: −$429
• Net cashflow: $-132/mo
• Annual: $-1,589/yr
• Cap rate: 5.29%
• Cash-on-cash: -3.59%
• DSCR: 0.84
• 1% rule: 1.29%
• Cash to close: $44,212

Investor read

• This is a 1-bed/1.0-bath condo listed at $158k.
• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (14.8% below list).
• Meets the 1% rule at list price ($2k rent vs $158k).
• It's been on market 15 days — a 2% lower offer ($156k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (14.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#68 in FL, #1,159 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living D, amenities 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.
• Zoned schools: Fox Trail Elementary School (math 58% / reading 69%, grade B, #564 of 2,144 statewide, top 27%, 1,130 students, 53% FRL); Indian Ridge Middle School (math 55% / reading 60%, grade B, #157 of 571 statewide, top 28%, 2,020 students, 46% FRL); Western High School (math 43% / reading 60%, grade D+, #167 of 667 statewide, top 25%, 3,566 students, 43% FRL) — zoned schools at 47% FRL track the district average.
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents rising (+1.2%/yr); 408 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $47k; list at $158k implies a 236% gain — meaningful room to come down on a strong offer.
• Cap rate 5.3% vs local median 3.4% in Davie — 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.

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?
• Built in 1978 — 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?