6043 Bayview Dr #6043

Fort Lauderdale, FL 33308

$435,000D+

2 bd · 2.5 ba · 1,425 sqft · Built 1973 · Townhouse · Pending · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,111/mo
• Mortgage (P&I): −$2,281
• Tax + insurance: −$725
• HOA: −$362
• Vac / Maint / Mgmt: −$863
• Net cashflow: $-121/mo
• Annual: $-1,446/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• 1% rule: 0.95%
• Cash to close: $121,800

Investor read

• This is a 2-bed/2.5-bath townhouse listed at $435k.
• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $418k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $411k (5.5% below list).
• It's been on market 56 days — a 3% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $411k (5.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#78 in FL, #1,293 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: 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.
• Zoned schools: Mcnab Elementary School (math 51% / reading 63%, grade C+, #781 of 2,144 statewide, top 38%, 614 students, 56% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL).
• Market conditions: Rents rising (+3.6%/yr); 739 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.2% in Fort Lauderdale — 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 $4,111/mo this rent would consume 53% of the median local household income ($94k/yr) (locally 912% 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 56 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.