The small-multifamily stock east of Federal
Broward's best DSCR files are often its oldest buildings: the 1950s-to-1970s duplexes, triplexes and fourplexes in Wilton Manors, Oakland Park, the Lake Ridge and Poinsettia Heights sections of Fort Lauderdale, Hollywood's Lakes and Boulevard Heights, and Dania Beach. Four units is the ceiling for a residential DSCR loan — five and up is commercial — and these buildings sit right at it. Two things decide the file:
- Rent is the appraiser's Form 1025, a unit-by-unit schedule of comparable rents, measured against the whole building's payment. Existing leases help; a half-vacant building qualifies on market rent for the empty units.
- Roof and electrical decide the insurance. A 1962 fourplex with a twenty-year-old roof and a 100-amp panel may be insurable only through Citizens, the state's insurer of last resort, at a premium that moves the ratio. A four-point inspection and a wind mitigation report before the appraisal tell you what the policy will cost — and whether a new roof is the first capital item rather than the third.
Canal-front and the flood map
Fort Lauderdale's waterfront rentals — the Isles off Las Olas, Rio Vista, Harbor Beach, the canal streets of Pompano and Lighthouse Point — sit almost entirely in Special Flood Hazard Areas, and a separate flood policy is required on top of wind. Elevation certificates matter here more than anywhere in the county; a home built to post-2000 elevation and a 1958 ranch on the same canal can carry very different premiums. The payment the rent has to cover includes both policies. Dock and seawall condition are appraisal items on these properties and occasionally lender conditions.
Vacation-rental registration in Broward cities
Fort Lauderdale, Hollywood, Pompano Beach and most Broward municipalities adopted their rules after the 2011 state preemption, so they may not ban vacation rentals, but they do require registration, inspections, occupancy limits and a responsible party who can respond within an hour — Fort Lauderdale's vacation rental program is the model most of them copied. Hollywood Beach and the Fort Lauderdale beach area carry the heaviest short-term-rental activity in the county. A DSCR program that counts booking income will want the city registration, the DBPR license and the county tourist-tax account alongside the booking history; a program that uses market rent only will still want to see that the use is registered.
Condos and townhomes west of I-95
Plantation, Sunrise, Davie, Pembroke Pines and Coral Springs hold the county's garden-style condo and townhome rentals, and the question there is the association rather than the flood map: reserves, the milestone inspection where the building is three stories or taller, rental caps in the declaration, and any assessment adopted to fund repairs. Newer townhome communities in Davie, Cooper City and Parkland are the simplest files in the county — recent roofs, modest insurance, and HOAs with no structural obligations.
Common questions
Can I buy a Wilton Manors or Oakland Park fourplex with a DSCR loan?
Yes. One-to-four units is the residential DSCR range. The appraiser's unit-by-unit rent schedule is measured against the building's full payment, including the insurance that an older roof and panel will drive.
Does flood insurance count against the ratio on a canal-front home?
Yes. Every required policy — wind and flood — is part of the payment. Get an elevation certificate and a bindable quote before the appraisal.
Will a lender count short-term-rental income in Fort Lauderdale?
Some programs do, with the city's vacation-rental registration, the DBPR license, the tourist-tax account and documented booking history. Others use long-term market rent only.
Do I need tax returns or a job?
No. The property's rent is the income; your employment and returns are not part of the file.