5961 NW 61st Ave #111 · Tamarac, FL 33319

$114,000

2 bd · 2.0 ba · 880 sqft · Condo public records · 52 Days on market

Built 1974 $502/mo HOA · 29% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

VERY NICE 2 BEDROOMS WITH 2 FULL BATHS, LOCATED ON FIRST FLOOR FOR CONVENIENCE. ASSIGNED PARKING IS INFRONT OF TH EUNIT. OWNER IS LEAVING MOST OF THE FURNITURE. COMPLEX IS 55+. AMENITIES INCLUDE POOL, CLUBHOUSE WITH OCIAL ACTIVITIES SUCH AS THANSGIVING AND CHRISTMAS DINNER. ASSOCIATION FEE INCLUDE MAINTENANCE OF EXTERIOR, ROOF, PARKING LOT, ETC. BUYER NEED TO HAVE A $30000 MINIMUM ANNUAL INCOME AND A 630 CREDIT SCORE.

Key facts

• $502 HOA
• Parking
• Built 1974

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes insurance, laundry, grounds maintenance, and water; Community amenities include clubhouse and laundry; Senior community

Exterior

• Parking: One parking space
• Home design: Attached property; 3-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Canal-front waterfront; Tennis court(s); Has a view

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Dining area; Separate/formal dining room; First floor entry; Den
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.9% in Tamarac — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#239 in FL, #3,785 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute 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.
• Market conditions: Rents soft (-1.4%/yr); 827 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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.
• Current owner paid $25k; list at $114k implies a 356% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.61×
• Total profit: $-12,605
• Equity at exit: $16,998

10-year hold

• IRR: -10.0%
• Equity multiple: 0.51×
• Total profit: $-15,721
• Equity at exit: $9,857

Cash invested: $31,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33319

• Rents YoY: -1.4%
• Active inventory: 827
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,732 high
• Mortgage (P&I): −$598
• Tax from tax record: −$53 /mo · $638/yr
• Insurance: −$48
• HOA: −$502
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $167

Break-even live

Break-even rent $1,520

Max offer price $114,000

Occupancy floor 85%

Sensitivity live

Price	-10% $232	-5% $200	+0% $167	+5% $135	+10% $103
Rent	-10% $31	-5% $99	+0% $167	+5% $236	+10% $304
Rate	-1.0pp $225	-0.5pp $196	base $167	+0.5pp $138	+1.0pp $108

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6021 NW 61st Ave #207 Tamarac, FL	1.0	1.0	660	$1,350	$2.05	3d	1	0.05mi
5940 NW 64th Ave #106 Fort Lauderdale, FL	1.0	1.0	660	$1,400	$2.12	25d	1	0.07mi
5851 NW 62nd Ave #305 Tamarac, FL	1.0	1.0	660	$1,500	$2.27	25d	1	0.07mi
5890 NW 64th Ave #308 Tamarac, FL	1.0	1.0	660	$1,500	$2.27	3d	1	0.09mi
6051 NW 61st Ave Tamarac, FL	2.0	2.0	965	$1,675	$1.74	16d	2	0.10mi
6050 NW 64th Ave #307 Fort Lauderdale, FL	1.0	1.0	660	$1,375	$2.08	25d	1	0.11mi
6161 NW 57th Ct #103 Tamarac, FL	2.0	2.0	880	$2,200	$2.50	25d	1	0.12mi
5801 NW 62nd Ave #106 Tamarac, FL	1.0	1.0	660	$1,350	$2.05	25d	1	0.13mi
5860 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	8d	3	0.14mi
5860 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	25d	2	0.14mi
6020 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	5d	3	0.15mi
6020 NW 64th Ave Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	25d	4	0.15mi
6070 NW 64th Ave #204 Fort Lauderdale, FL	2.0	2.0	880	$1,700	$1.93	4d	1	0.16mi
6000 NW 64th Ave #106 Fort Lauderdale, FL	1.0	1.0	660	$1,450	$2.20	8d	1	0.17mi
5750 NW 64th Ave #305 Tamarac, FL	1.0	1.0	660	$1,650	$2.50	21d	1	0.18mi
6150 NW 62nd St Tamarac, FL	1.0	1.0	660	$1,525	$2.31	25d	2	0.18mi
6300 NW 62nd St Tamarac, FL	1.0–2.0	1.0–2.0	770	$1,700	$2.21	3d	3	0.22mi
5903 NW 57th Ct Tamarac, FL	1.0–3.0	1.0–2.0	1080	$2,330	$2.16	0d	28	0.24mi
6020 Shakerwood Cir #106 Tamarac, FL	2.0	2.0	800	$2,000	$2.50	16d	1	0.30mi
6001 Shakerwood Cir #205 Tamarac, FL	2.0	2.0	775	$1,800	$2.32	25d	1	0.30mi
6061 Shakerwood Cir #206 Tamarac, FL	2.0	2.0	775	$1,800	$2.32	5d	1	0.31mi
5713 NW 65th Ter Tamarac, FL	2.0	1.0	884	$2,200	$2.49	25d	1	0.36mi
5718 NW 66th Ave Unit n/a Tamarac, FL	2.0	1.0	1118	$2,700	$2.42	25d	1	0.40mi
8140 SW 22nd St North Lauderdale, FL	3.0	2.0	1084	$2,750	$2.54	21d	1	0.40mi
8140 SW 22nd St North Lauderdale, FL	1.0–2.0	1.5–2.0	764	$1,832	$2.40	17d	2	0.40mi
8140 SW 22nd St North Lauderdale, FL	1.0	1.5	695	$1,527	$2.20	20d	1	0.40mi
8140 SW 22nd St North Lauderdale, FL	2.0	2.0	833	$1,832	$2.20	11d	1	0.40mi
1820 SW 81st Ave Unit 3301 North Lauderdale, FL	1.0	1.5	830	$1,600	$1.93	25d	1	0.42mi
1820 N Lauderdale Ave #3416 North Lauderdale, FL	2.0	2.0	1000	$2,000	$2.00	23d	1	0.44mi
1820 N Lauderdale Ave #3117 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	25d	1	0.44mi
1810 SW 81st Ave Unit 2215 North Lauderdale, FL	2.0	2.0	1000	$1,900	$1.90	25d	1	0.49mi
1810 SW 81st Ave Unit 2215 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	8d	1	0.49mi
1810 SW 81st Ave #2314 North Lauderdale, FL	2.0	2.0	1000	$1,850	$1.85	15d	1	0.49mi
1810 SW 81st Ave Unit 2209 North Lauderdale, FL	2.0	2.0	1000	$1,700	$1.70	21d	1	0.49mi
1810 SW 81st Ave Unit 2401 North Lauderdale, FL	1.0	1.5	830	$1,525	$1.84	23d	1	0.49mi
1810 SW 81st Ave Unit 2106 North Lauderdale, FL	1.0	1.0	810	$1,375	$1.70	16d	1	0.49mi
1800 SW 81st Ave Unit 1100 North Lauderdale, FL	1.0	1.5	830	$1,600	$1.93	5d	1	0.50mi
1800 SW 81st Ave Unit 1112 North Lauderdale, FL	1.0	1.5	830	$1,600	$1.93	2d	1	0.50mi
1800 SW 81st Ave Unit 1307 North Lauderdale, FL	2.0	2.0	1000	$2,000	$2.00	18d	1	0.50mi
1800 SW 81st Ave Unit 1400 North Lauderdale, FL	1.0	1.5	830	$1,600	$1.93	25d	1	0.50mi

HOA detail condo

• Monthly dues: $502 · $6,024/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $114,000 Active 52 DOM
2. 2026-06-18
   days on market $114,000 Active 49 DOM
3. 2026-06-17
   days on market $114,000 Active 48 DOM
4. 2026-06-16
   days on market $114,000 Active 47 DOM
5. 2026-06-15
   days on market $114,000 Active 46 DOM
6. 2026-06-13
   days on market $114,000 Active 44 DOM
7. 2026-06-09
   days on market $114,000 Active 40 DOM
8. 2026-06-08
   days on market $114,000 Active 39 DOM
9. 2026-06-07
   days on market $114,000 Active 38 DOM
10. 2026-06-04
    days on market $114,000 Active 35 DOM
11. 2026-06-03
    days on market $114,000 Active 34 DOM
12. 2026-06-02
    days on market $114,000 Active 33 DOM
13. 2026-06-01
    days on market $114,000 Active 32 DOM
14. 2026-05-31
    days on market $114,000 Active 31 DOM
15. 2026-04-28
    listed $114,000 Active
16. 2011-05-10
    listed $28,000
17. 1999-12-23
    soldstatus $25,000
18. 1976-06-01
    soldstatus $25,000
19. 1974-07-01
    soldstatus $21,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $638 · $53/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$308/yr (+$26/mo · 48.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,779
• − Mortgage interest: −$6,386
• − Property taxes: −$638
• − Insurance: −$570
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − HOA: −$6,024
• − Depreciation: −$3,316
• Taxable income: $520
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $1,884/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Broward
• NCES district ID: 1200180
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $52,139
• Composite: 40.88/100
• National rank: #3621
• State rank: #46 of 73 in FL

Livability — Tamarac

• Score: 76/100
• State rank: #239
• US rank: #3785

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tamarac, FL
• County: Broward County · 1,963,430 people
• City population: 105,666
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,450
• Household income: $58,388
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 2809.0

Population outlook (Broward County) Hauer SSP2

• Today (2025): 2,207,033 people
• By 2030: 2,360,704 · +7.0%
• By 2040: 2,661,208 · +20.6%
• By 2050: 2,946,698 · +33.5%
• By 2075: 3,602,273 · +63.2%
• By 2100: 3,970,984 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 61% Hispanic / Latino 17% White 15% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 13% Romanian 1% Italian 1%
• Foreign-born: 46% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 15% French/Haitian/Cajun 15% Other Indo-European 2%

Political lean MEDSL · Broward

• 2024 margin: D (+17.0) · D 58.0% · R 41.0%
• 2008→2024 swing: -17.8pp toward R · 2008: 34.7pp · 2024: 17.0pp
• All cycles: 2024: D+17.0 2020: D+29.8 2016: D+35.0 2012: D+34.9 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.84%
• Current HPI: 328.4307
• Rent YoY: ▼ -1.38%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+422.9% since first listed

5 events — show timeline

• 2026-04-28 Listed $114,000 MARMLS
• 2011-05-10 Listed $28,000 MARMLS
• 1999-12-23 Sold (Public Records) $25,000 Public Records
• 1976-06-01 Sold (Public Records) $25,000 Public Records
• 1974-07-01 Sold (Public Records) $21,800 Public Records

Property tax history

+6.5%/yr

Latest (2025): $638 · +6.9% YoY. Source: county tax records.