3140 Holiday Springs Blvd Unit 9-210

Margate, FL 33063

$99,990D

1 bd · 2.0 ba · 728 sqft · Built 1974 · Condo · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,619/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$111
• HOA: −$764
• Vac / Maint / Mgmt: −$340
• Net cashflow: $-120/mo
• Annual: $-1,445/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• 1% rule: 1.62%
• Cash to close: $27,997

Investor read

• This is a 1-bed/2.0-bath condo listed at $100k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (21.3% below list).
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (21.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $692 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#85 in FL, #1,398 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Alphabet Land-Margate (8 students, 0% FRL); Margate Middle School (math 25% / reading 34%, grade F, #469 of 571 statewide, top 84%, 1,094 students, 77% FRL); Coral Springs High School (math 16% / reading 38%, grade F, #478 of 667 statewide, top 73%, 2,320 students, 59% FRL).
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 47% of rent.
• Market conditions: Rents rising (+1.9%/yr); 548 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 3 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.
• 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.
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 42 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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.
• 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.