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$349,900

Under Contract
2131 SW 92nd Ter Apt 1601, Davie, FL 33324
2 Beds
2 Baths
1,380 Square Feet
0.00 Acres Lot
Built in 1981
Under Contract
Units n/a
Checked: 9 hours ago
Updated: Sep 23, 2025 at 10:16AM

Investment Summary


Monthly Cash Flow
-$1,026
Cap Rate
2.6%
Cash-on-Cash Return
-15.3%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-10.8%

Property Description


0.00 Acres Lot
Built in 1981
Under Contract
Units n/a

COMPLETELY UPDATED CORNER APARTMENT LOCATED IN PRIVATE PINE ISLAND RIDGE CC. 1ST FLOOR LOCATION * STEPS FROM YOUR PARKING SPOT PROVIDES EZ ACCESS * SPACIOUS UNIT WITH ALL IMPACT WINDOWS * UPDATED & UPDATED KITCHEN & BATHS* BLACK APPLIANCES* NEW TANKLESS WATER HEATER * PANTRY CLOSET PROVIDES ADDITIONAL STORAGE * NEWER CARPETING IN BEDROOMS * KITCHEN TABLE & DININGTABLE/POOL WILL STAY* SERENE GARDENS VIEW * AMENITIES INCLUDE COMMUNITY POOL*THIS APARTMENT IS LOCATED IN PRIVATE PINE ISLAND RIDGE COUNTRY CLUB, WHICH OFFERS AMENITIES SUCH AS GOLF TENNIS SAUNA STEAM WORKOUT FACILITY SPORTS BAR AND PRIVATE DINING ROOM. NSU AND DAVIE COLLEGES 10 MIN. PRIVATE COUNTRY CLUB COMMUNITY * EXECUTIVE GOLF COURSE * TENNIS*PICKLEBALL, BOCCE BALL * GYM, SPORTS BAR * FINE DINING ROOM * ROOFS REPLACED 2021*

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Location


Property Details


Parking

  • Details: Assigned, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 2

HOA

  • Has HOA: Yes
  • HOA Fee: $700/monthly
  • Additional HOA Fee: $700

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 504117HM0130
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1981

Tax Information

  • Annual Tax: $3,110

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Broward

Listing Details


Listed by:
John Dapas
Pine Island Realty
(954) 472-3000

Source:
BeachesMLS
MLS#: F10520543
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,026
Cap Rate
2.6%
Cash-on-Cash Return
-15.3%
Debt Coverage Ratio
0.43
Internal Rate of Return (5 years)
-10.8%

Purchase Details

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Purchase price:
$349,900
Amount financed:
-$279,920
Down payment:
$69,980
Closing costs:
$10,497
Rehab costs:
$0
Initial cash invested:
$80,477
Square feet:
1,380
Cost per square foot:
$254
Monthly rent per square foot:
$1.81

Financing Details

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Loan amount:
$279,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,792
Property tax:
$259
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,226

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$259-$3,110
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (28%)
28%-$700-$8,400
Total operating expenses: (63%)
63%-$1,584-$19,010

Cash Flow


Monthly Yearly
Net operating income:
$766 $9,192
Mortgage payments:
-$1,792 -$21,504
Cash flow:
-$1,026 -$12,312