319 Coconut Isle Dr #3

Fort Lauderdale, FL 33301

$749,000D

4 bd · 4.5 ba · 3,263 sqft · Built 2023 · SingleFamily · Active · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,526/mo
• Mortgage (P&I): −$3,928
• Tax + insurance: −$1,675
• HOA: −$0
• Vac / Maint / Mgmt: −$1,160
• Net cashflow: $-1,237/mo
• Annual: $-14,849/yr
• Cap rate: 4.99%
• Cash-on-cash: -4.64%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $209,720

Investor read

• This is a 4-bed/4.5-bath single-family listed at $749k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $570k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $553k (26.2% below list).
• It's been on market 166 days — a 12% lower offer ($659k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $553k (26.2% below list) — sets the bar for 1% rule.
• In year one you build about $39k of equity ($5k loan paydown + $34k appreciation (4.6% local appreciation)).
• 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: Harbordale Elementary School (math 64% / reading 74%, grade A-, #399 of 2,144 statewide, top 19%, 487 students, 38% FRL); Sunrise Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,242 students, 64% FRL); Fort Lauderdale High School (math 38% / reading 67%, grade C-, #154 of 667 statewide, top 24%, 2,228 students, 57% FRL) — zoned schools at 53% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents rising (+3.0%/yr); 474 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% 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 $5,526/mo this rent would consume 53% of the median local household income ($125k/yr) (locally 1662% 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 166 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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.