902 Twin Lakes Dr #902 · Coral Springs, FL 33071

$155,000

2 bd · 2.0 ba · 768 sqft · Condo · 99 Days on market

Built 1981 $672/mo HOA · 33% of rent

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Why this score? — see what drove the D- 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 +8.5/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

LARGE LAKE FLOOR PLAN CORNER UNIT TILED FLOOR WASHER AND DRIER IN THE UNIT IN VERY GOOD CONDITION SAME TENANT FOR LAST 12 YEARS LIKE TO CONTINUE, PAYING 1700 PER MONTH ON A SIGNED LEASE, AVERAGE RENT IN THE COMMUNITY 1850 PER MONTH GOOD INVESTMENT AND INCOME FROM DAY ONE 40 YEAR INSPECTION BY HOA COMPLETED, WALK TO ELEMENTRY, WHOLE FOODS, HOME DEPOT AND SAMS CLUB

Key facts

• Washer and drier
• Walk to elementry
• Walk to home depot

Tags

• CORNER UNIT
• TILED FLOOR
• WASHER AND DRIER
• WALK TO ELEMENTRY
• WALK TO WHOLE FOODS
• WALK TO HOME DEPOT

Property features AI

Finance

• HOA & community: HOA with monthly fee; Monthly association fee covers structure maintenance and common areas; Community pool; Pets allowed with breed restrictions; Approximately 490 units in the community

Exterior

• Utilities: Has heating and cooling (central); Electric water heater
• Home design: Condominium; Second-floor entry; 2-story building; Resale condition
• Construction: Block construction; Building has 2 stories
• Exterior features: Waterfront community (no direct waterfront on property)

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Electric water heater; Garbage disposal; Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (12.8% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $135k (12.8% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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.

Location & tenants

• 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: Maplewood Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 587 students, 60% FRL); Ramblewood Middle School (math 43% / reading 49%, grade D+, #300 of 571 statewide, top 53%, 1,125 students, 58% FRL); J. P. Taravella High School (math 19% / reading 45%, grade F, #415 of 667 statewide, top 63%, 2,586 students, 54% FRL).
• Market conditions: Rents soft (-0.6%/yr); 243 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); solid renter incomes; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• 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.
• 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 99 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% 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 $135,214 (12.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.31% ✓
• Cap rate: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.3%
• Equity multiple: 0.09×
• Total profit: $-39,341
• Equity at exit: $23,111

10-year hold

• IRR: -64.8%
• Equity multiple: -0.54×
• Total profit: $-66,699
• Equity at exit: $13,402

Cash invested: $43,400 (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 33071

• Home prices YoY: -35.0%
• Rents YoY: -0.6%
• Active inventory: 243
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,033 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$672
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-137

Break-even live

Break-even rent $2,207

Max offer price $135,214

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-83	+0% $-137	+5% $-190	+10% $-244
Rent	-10% $-297	-5% $-217	+0% $-137	+5% $-56	+10% $24
Rate	-1.0pp $-59	-0.5pp $-97	base $-137	+0.5pp $-177	+1.0pp $-218

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 Twin Lakes Dr Unit 8J Coral Springs, FL	2.0	2.0	768	$2,200	$2.86	14d	1	0.03mi
908 Twin Lakes Dr Unit 8C Coral Springs, FL	2.0	2.0	768	$2,100	$2.73	6d	1	0.03mi
9964 Twin Lakes Dr Unit 35B Coral Springs, FL	2.0	2.0	768	$2,000	$2.60	25d	1	0.04mi
922 Twin Lakes Dr Unit 922 Coral Springs, FL	2.0	2.0	768	$2,000	$2.60	3d	1	0.05mi
922 Twin Lakes Dr Unit 922 Coral Springs, FL	2.0	2.0	768	$2,000	$2.60	22d	1	0.05mi
10092 Twin Lakes Dr Unit 38H Coral Springs, FL	2.0	2.0	768	$1,950	$2.54	25d	1	0.10mi
10148 Twin Lakes Dr Unit 12C Coral Springs, FL	2.0	2.0	768	$1,600	$2.08	18d	1	0.15mi
10176 Twin Lakes Dr Unit 13C Coral Springs, FL	2.0	2.0	768	$1,790	$2.33	25d	1	0.17mi
10176 Twin Lakes Dr Unit 13C Coral Springs, FL	2.0	2.0	768	$1,790	$2.33	2d	1	0.17mi
10001 W Atlantic Blvd Coral Springs, FL	1.0–2.0	1.5–2.0	765	$2,000	$2.61	25d	3	0.17mi
10001 W Atlantic Blvd Coral Springs, FL	1.0–2.0	1.5–2.0	765	$2,000	$2.61	11d	3	0.17mi
10001 W Atlantic Blvd Coral Springs, FL	1.0–2.0	1.0–2.0	765	$2,000	$2.61	6d	4	0.17mi
10165 Twin Lakes Dr Unit 23F Coral Springs, FL	2.0	2.0	768	$1,680	$2.19	25d	1	0.20mi
848 Twin Lakes Dr Unit 19G Coral Springs, FL	2.0	2.0	768	$1,795	$2.34	25d	1	0.24mi
1004 Twin Lakes Dr #1004 Coral Springs, FL	2.0	2.0	768	$1,850	$2.41	25d	1	0.24mi
9621 NW 4th St Coral Springs, FL	2.0	2.0	870	$1,975	$2.27	18d	1	0.35mi
790 Harbor Inn Dr Coral Springs, FL	1.0	1.0	875	$2,010	$2.30	25d	1	0.38mi
9641 Riverside Dr Unit F1 Coral Springs, FL	2.0	2.0	995	$2,200	$2.21	25d	1	0.53mi
1351 NW 94th Way Unit 1 Coral Springs, FL	2.0	1.5	837	$1,700	$2.03	2d	1	0.55mi
1351 NW 94th Way #1351 Coral Springs, FL	2.0	1.5	837	$1,700	$2.03	25d	1	0.55mi
1357 NW 94th Way #1357 Coral Springs, FL	2.0	1.5	837	$1,875	$2.24	15d	1	0.56mi
9111 Ramblewood Dr Coral Springs, FL	1.0–3.0	1.0–2.0	1131	$2,416	$2.13	2d	26	0.59mi
1001 Coral Club Dr #1001 Coral Springs, FL	2.0	2.0	1044	$2,200	$2.11	25d	1	0.61mi
1005 Coral Club Dr #1005 Coral Springs, FL	2.0	2.0	1044	$2,250	$2.16	4d	1	0.61mi
937 Coral Club Dr #937 Coral Springs, FL	1.0	1.0	816	$1,690	$2.07	5d	1	0.61mi
1088 Coral Club Dr #1088 Coral Springs, FL	2.0	2.0	1074	$2,300	$2.14	6d	1	0.61mi
1001 Coral Club Dr #1001 Coral Springs, FL	2.0	2.0	1044	$2,100	$2.01	8d	1	0.61mi
998 Coral Club Dr #998 Coral Springs, FL	2.0	2.0	1044	$2,000	$1.92	11d	1	0.61mi
1041 Coral Club Dr #1041 Coral Springs, FL	1.0	1.0	816	$1,750	$2.14	25d	1	0.61mi
1084 Coral Club Dr Coral Springs, FL	1.0	1.0	816	$1,850	$2.27	25d	1	0.61mi
979 Coral Club Dr #979 Coral Springs, FL	2.0	2.0	1044	$1,990	$1.91	25d	1	0.61mi
1142 Coral Club Dr #1142 Coral Springs, FL	2.0	2.0	1044	$2,100	$2.01	25d	1	0.61mi
1013 Coral Club Dr #1013 Coral Springs, FL	1.0	1.0	816	$1,750	$2.14	25d	1	0.61mi
9288 W Atlantic Blvd #1114 Coral Springs, FL	2.0	2.0	986	$2,250	$2.28	25d	1	0.67mi
1138 Coral Club Dr #1138 Coral Springs, FL	2.0	2.0	1044	$2,200	$2.11	25d	1	0.67mi
9266 W Atlantic Blvd #1026 Coral Springs, FL	2.0	2.0	986	$2,000	$2.03	25d	1	0.70mi
9266 W Atlantic Blvd #1025 Coral Springs, FL	2.0	2.0	986	$2,000	$2.03	15d	1	0.70mi
9266 W Atlantic Blvd #1025 Coral Springs, FL	2.0	2.0	986	$2,000	$2.03	8d	1	0.70mi
9022 W Atlantic Blvd #214 Coral Springs, FL	2.0	2.0	986	$2,000	$2.03	5d	1	0.74mi
9122 W Atlantic Blvd #724 Coral Springs, FL	2.0	2.0	986	$2,150	$2.18	8d	1	0.78mi

HOA detail condo

• Monthly dues: $672 · $8,064/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $155,000 Active 99 DOM
2. 2026-06-17
   days on market $155,000 Active 98 DOM
3. 2026-06-16
   days on market $155,000 Active 97 DOM
4. 2026-06-15
   days on market $155,000 Active 96 DOM
5. 2026-06-13
   days on market $155,000 Active 94 DOM
6. 2026-06-09
   days on market $155,000 Active 90 DOM
7. 2026-06-07
   days on market $155,000 Active 88 DOM
8. 2026-06-04
   days on market $155,000 Active 85 DOM
9. 2026-06-03
   days on market $155,000 Active 84 DOM
10. 2026-06-02
    days on market $155,000 Active 83 DOM
11. 2026-06-01
    days on market $155,000 Active 82 DOM
12. 2026-05-31
    days on market $155,000 Active 81 DOM
13. 2024-05-21
    listed $155,000 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,402
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − HOA: −$8,064
• − Depreciation: −$4,509
• Taxable loss: −$3,858
• Est. tax savings @ 24.0%: +$926
• After-tax cash flow: $-715/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 — Coral Springs

• Score: 79/100
• State rank: #145
• US rank: #2163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coral Springs, FL
• County: Broward County · 1,963,430 people
• City population: 101,171
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 42,255
• Household income: $106,149
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 1123.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 35% Hispanic / Latino 34% Black 22% Two or more races 20% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 3% Dominican 3%
• Common ancestry: Hispanic 4% Romanian 3% Scotch-Irish 2%
• Foreign-born: 32% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 28% 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: ▼ -203.71%
• Current HPI: 378.3293
• Rent YoY: ▼ -0.56%
• 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

1 event — show timeline

• 2024-05-21 Listed $155,000 Beaches MLS