5920 Coral Lake Dr #208 · Margate, FL 33063

$129,000

2 bd · 2.0 ba · 1,090 sqft · Condo public records · 89 Days on market

Built 1979 $591/mo HOA · 25% of rent

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Why this score? — see what drove the B- 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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to life in this spacious 2-bedroom, 2-bath residence offering a true blank canvas for renovation. The unit is developer-ready with new AC, making it ideal for investors, contractors, or buyers looking to design a custom interior. Enjoy serene lake views from the screened-in balcony, perfect for morning coffee or sunset relaxation. Generous living and dining areas provide flexible layout options, and the split-bedroom plan offers privacy and functionality. A rare opportunity to create value and personalize a home in a peaceful lakefront setting.

Key facts

• Lake views
• Screened in balcony
• Developer ready

Tags

• BLANK CANVAS FOR RENOVATION
• DEVELOPER READY
• NEW AC
• LAKE VIEWS
• SCREENED IN BALCONY
• FLEXIBLE LAYOUT OPTIONS

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee; Association fee covers amenities, electricity, internet, grounds maintenance, structure maintenance, sewer and water; Association amenities include clubhouse and pool; Senior community

Exterior

• Parking: One parking space
• Utilities: Water and sewer included in association; Electricity included in association; Internet included in association
• Home design: 3-story building; Entry on second level; Attached property; Resale unit; Has a view
• Construction: Block construction
• Exterior features: Balcony; Screened balcony/porch; Association pool; Lakefront waterfront view

Interior

• Flooring: Concrete; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second floor entry; Concrete and ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.3% in Margate — 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 81/100 on livability (#85 in FL, #1,398 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities 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 rising (+1.9%/yr); 548 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 45% of the median local income ($63k/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 $892 of loan paydown is wiped out by about $4k 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 89 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $129k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.82% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $2,305
• Equity at exit: $19,234

10-year hold

• IRR: 10.0%
• Equity multiple: 1.73×
• Total profit: $26,189
• Equity at exit: $11,154

Cash invested: $36,120 (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 33063

• Home prices YoY: -18.1%
• Rents YoY: 1.9%
• Active inventory: 548
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,350 high
• Mortgage (P&I): −$676
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$54
• HOA: −$591
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $397

Break-even live

Break-even rent $1,847

Max offer price $129,000

Occupancy floor 78%

Sensitivity live

Price	-10% $470	-5% $434	+0% $397	+5% $361	+10% $324
Rent	-10% $212	-5% $304	+0% $397	+5% $490	+10% $583
Rate	-1.0pp $462	-0.5pp $430	base $397	+0.5pp $364	+1.0pp $330

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6729 Coral Lake Dr #6729 Margate, FL	2.0	2.0	1090	$1,995	$1.83	11d	1	0.22mi
3357 Cocoplum Cir #33133 Coconut Creek, FL	2.0	2.5	1182	$2,550	$2.16	14d	1	0.27mi
3357 Cocoplum Cir #33133 Coconut Creek, FL	2.0	2.5	1182	$2,500	$2.12	25d	1	0.27mi
5555 Celebration Point Ln Margate, FL	1.0–3.0	1.0–2.0	970	$2,563	$2.64	2d	9	0.28mi
2474 NW 49th Ter #766 Coconut Creek, FL	2.0	2.0	974	$2,300	$2.36	12d	1	0.29mi
2486 NW 49th Ter #762 Coconut Creek, FL	3.0	2.0	1116	$2,350	$2.11	8d	1	0.29mi
5533 Courtyard Dr #5533 Margate, FL	2.0	2.0	970	$1,995	$2.06	25d	1	0.31mi
3439 Cocoplum Cir #3420 Coconut Creek, FL	2.0	2.0	982	$2,250	$2.29	8d	1	0.33mi
3287 Cocoplum Cir #3321 Coconut Creek, FL	3.0	2.0	1100	$2,500	$2.27	18d	1	0.33mi
3781 Cocoplum Cir #3579 Coconut Creek, FL	2.0	2.0	982	$2,300	$2.34	19d	1	0.39mi
5380 Jubilee Way #200 Margate, FL	2.0	1.5	1110	$2,500	$2.25	25d	1	0.45mi
3757 Cocoplum Cir #3567 Coconut Creek, FL	2.0	2.0	982	$2,100	$2.14	25d	1	0.45mi
5448 Jubilee Way #217 Margate, FL	1.0	1.5	1010	$1,950	$1.93	3d	1	0.47mi
3831 Cocoplum Cir #3592 Coconut Creek, FL	3.0	2.0	1115	$2,450	$2.20	15d	1	0.48mi
4821 NW 22nd St Coconut Creek, FL	2.0	2.5	1244	$2,595	$2.09	2d	1	0.51mi
4821 NW 22nd St Coconut Creek, FL	2.0	2.5	1244	$2,595	$2.09	15d	1	0.51mi
4820 NW 22nd St #4134 Coconut Creek, FL	2.0	2.5	1244	$2,700	$2.17	12d	1	0.51mi
4820 NW 22nd St #4134 Coconut Creek, FL	2.0	2.5	1244	$2,700	$2.17	8d	1	0.51mi
5295 Jamboree Pl Margate, FL	2.0	2.5	1110	$2,500	$2.25	25d	1	0.54mi
3933 Cocoplum Cir #3518 Coconut Creek, FL	2.0	2.0	982	$2,200	$2.24	19d	1	0.54mi
3417 Merrick Ct #1206 Margate, FL	3.0	2.5	1371	$2,650	$1.93	25d	1	0.56mi
3950 Cocoplum Cir Coconut Creek, FL	3.0	2.5	1388	$3,200	$2.31	11d	1	0.56mi
3950 Cocoplum Cir #3638 Coconut Creek, FL	3.0	2.5	1388	$3,200	$2.31	25d	1	0.56mi
5755 Winfield Blvd Margate, FL	2.0	1.0	1200	$2,200	$1.83	8d	1	0.58mi
3953 Cocoplum Cir #3611 Coconut Creek, FL	2.0	2.0	1140	$2,700	$2.37	2d	1	0.58mi
3953 Cocoplum Cir #3611 Coconut Creek, FL	2.0	2.0	1140	$2,700	$2.37	6d	1	0.58mi
3427 NW 47th Ave #3190 Coconut Creek, FL	2.0	2.0	955	$2,300	$2.41	22d	1	0.59mi
3427 NW 47th Ave #3190 Coconut Creek, FL	2.0	2.0	955	$2,300	$2.41	8d	1	0.59mi
3961 Cocoplum Cir Unit F Coconut Creek, FL	2.0	2.5	1208	$2,200	$1.82	25d	1	0.60mi
3050 Toscana Ln W Margate, FL	1.0–3.0	1.0–2.0	1075	$2,570	$2.39	2d	1	0.61mi
3393 Carambola Cir S #2441 Coconut Creek, FL	2.0	2.5	1230	$2,500	$2.03	14d	1	0.69mi
6073 NW 27th St Unit 6073 Margate, FL	3.0	2.0	914	$2,700	$2.95	15d	1	0.71mi
5100 W Sample Rd Margate, FL	1.0–2.0	1.0–2.0	975	$2,321	$2.38	4d	16	0.72mi
3325 Carambola Cir S Unit S Coconut Creek, FL	2.0	2.5	1230	$2,500	$2.03	3d	1	0.72mi
2900 NW 42nd Ave Unit A103 Coconut Creek, FL	2.0	2.0	970	$2,100	$2.16	22d	1	0.75mi
2900 NW 42nd Ave Unit A103 Coconut Creek, FL	2.0	2.0	970	$2,100	$2.16	25d	1	0.75mi
2900 NW 42nd Ave Unit A110 Coconut Creek, FL	2.0	2.0	930	$2,000	$2.15	5d	1	0.75mi
4854 Fishermans Dr Coconut Creek, FL	1.0–2.0	1.0–2.0	800	$2,400	$3.00	2d	13	0.75mi
4142 Cocoplum Cir Coconut Creek, FL	1.0–3.0	1.0–2.5	1129	$2,223	$1.97	2d	17	0.77mi
3150 NW 42nd Ave Unit E401 Coconut Creek, FL	2.0	2.0	1340	$2,049	$1.53	25d	1	0.79mi

HOA detail condo

• Monthly dues: $591 · $7,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-03-27
   price $129,000
2. 2026-03-01
   listed $140,000 Active
3. 2025-05-09
   historical
4. 2024-05-10
   listed $257,000 Active
5. 2003-04-24
   soldstatus $74,500
6. 1979-12-01
   soldstatus $48,000

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $1,656 · $138/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $28,201
• − Mortgage interest: −$7,226
• − Property taxes: −$1,656
• − Insurance: −$645
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − HOA: −$7,092
• − Depreciation: −$3,753
• Taxable income: $3,317
• Est. tax owed @ 24.0%: −$796
• After-tax cash flow: $3,972/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 — Margate

• Score: 81/100
• State rank: #85
• US rank: #1398

Category grades

Amenities F Commute A+ 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: Margate, FL
• County: Broward County · 1,963,430 people
• City population: 55,466
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 55,466
• Household income: $62,918
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 2290.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Hispanic / Latino 29% Black 28% Two or more races 18% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 3% Dominican 3%
• Common ancestry: Hispanic 6% Romanian 2% Estonian 2%
• Foreign-born: 36% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 24% French/Haitian/Cajun 7% Other Indo-European 4%

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: ▼ -87.17%
• Current HPI: 393.9225
• Rent YoY: ▲ 1.94%
• 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

+168.8% since first listed

6 events — show timeline

• 2026-03-27 Price Changed $129,000 MARMLS
• 2026-03-01 Listed $140,000 MARMLS
• 2025-05-09 Listing Removed — MARMLS
• 2024-05-10 Listed $257,000 MARMLS
• 2003-04-24 Sold (Public Records) $74,500 Public Records
• 1979-12-01 Sold (Public Records) $48,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,656 · +4.0% YoY. Source: county tax records.