Short answer
This glossary covers the two things that decide a South Florida investment: the underwriting metrics (cap rate, NOI, cash-on-cash, DSCR) and the Florida condo risks (special assessments, SIRS, milestone inspections) that can turn a clean-looking deal into a costly one.
Underwriting metrics
Cap rate
Unleveraged annual return: NOI ÷ price.
NOI
Income after operating expenses, before debt.
Cash-on-cash return
Cash flow ÷ cash invested.
DSCR
NOI ÷ debt service — what investor lenders check.
Gross rent multiplier
Price ÷ gross rent, a quick screen.
Comps
Comparable closed sales and leases.
ARV
After-repair value for flips and BRRRR.
Florida condo terms
HOA special assessment
One-time owner charge beyond reserves.
SIRS (Florida)
Structural Integrity Reserve Study.
Milestone inspection (Florida)
Mandated structural inspection of older condos.
See every one of these computed on a real listing.
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