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$240,000

For Sale - Active
2600 S University Dr Apt 218, Davie, FL 33328
1 Bed
1 Bath
823 Square Feet
0.00 Acres Lot
Built in 1998
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jul 17, 2025 at 03:40AM

Investment Summary


Monthly Cash Flow
-$638
Cap Rate
3.0%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.4%

Property Description


0.00 Acres Lot
Built in 1998
For Sale - Active
Units n/a

INVESTOR OPPORTUNITY!!! RENTED AT $1,900/MONTH THROUGH JUNE 2026. SELLER WILL PAY ALL FOUR SPECIAL ASSESSMENTS. NICE LAKEVIEW 1 BEDROOM APARTMENT READY TO MOVE-IN. CLOSE TO NOVA, COLLEGES, MALLS, AND SHOPPING CENTERS. EASY ACCESS TO THE MAIN HIGHWAYS LIKE 595, I75, I 95, AND FL. TURNPIKE. LUXURIOUS AMENITIES: CABANA, POOL, BILLIARD ROOM, FITNESS CENTER, BASKETBALL, RACQUETBALL, AND TENNIS COURT. THE ASSOCIATION IS CURRENTLY ADDRESSING THE PROJECTS OUTLINED IN THE SPECIAL ASSESSMENT(S).

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 3

HOA

  • Has HOA: Yes
  • HOA Fee: $384/monthly

Land Information

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

Lot Information

  • Parcel ID: 504121CD0480
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: None
  • Year Built: 1998

Tax Information

  • Annual Tax: $4,028

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Broward

Listing Details


Listed by:
Leidys Rendon
United Realty Group Inc
(305) 542-4788

Source:
MIAMI REALTORS MLS
MLS#: A11725343
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$638
Cap Rate
3.0%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.4%

Purchase Details

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Purchase price:
$240,000
Amount financed:
-$192,000
Down payment:
$48,000
Closing costs:
$7,200
Rehab costs:
$0
Initial cash invested:
$55,200
Square feet:
823
Cost per square foot:
$292
Monthly rent per square foot:
$2.31

Financing Details

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Loan amount:
$192,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,229
Property tax:
$336
Insurance:
$133
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,698

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,900 $22,800
Vacancy loss: (6%)
6% -$114 -$1,368
Operating income:
$1,786 $21,432

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$336-$4,028
Insurance: (7%)
7%-$133-$1,596
Property management: (8%)
8%-$152-$1,824
Repairs & maintenance: (5%)
5%-$95-$1,140
Capital expenditures: (5%)
5%-$95-$1,140
HOA fees: (20%)
20%-$384-$4,608
Total operating expenses: (63%)
63%-$1,195-$14,336

Cash Flow


Monthly Yearly
Net operating income:
$591 $7,092
Mortgage payments:
-$1,229 -$14,748
Cash flow:
-$638 -$7,656