111 NW 7th Ave

Dania Beach, FL 33004

$979,990F

12 bd · 6.0 ba · 2,128 sqft · Built 1968 · MultiFamily · Active · 171 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,335/mo
• Mortgage (P&I): −$5,139
• Tax + insurance: −$1,633
• HOA: −$0
• Vac / Maint / Mgmt: −$1,330
• Net cashflow: $-1,768/mo
• Annual: $-21,214/yr
• Cap rate: 4.13%
• Cash-on-cash: -7.73%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $274,397

Investor read

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $980k.
• At list price, monthly cash flow is $-2k ($-21k/yr) — negative. Per door: $-589/mo.
• To cash-flow at today's rent, offer at most $724k (26.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $634k (35.4% below list).
• It's been on market 171 days — a 12% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $634k (35.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#180 in FL, #2,806 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A, housing A; Watch: schools D, employment D, amenities 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.
• Market conditions: Rents soft (-1.7%/yr); 209 active listings in the ZIP; 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.
• 6 sale attempts since 3y 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.
• Current owner paid $540k; list at $980k implies a 81% gain — meaningful room to come down on a strong offer.
• 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.
• At $6,335/mo this rent would consume 145% of the median local household income ($53k/yr) (locally 1999% 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 171 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?