406 N Laurel Dr #207 · Margate, FL 33063

$182,900

2 bd · 2.0 ba · 1,019 sqft · Condo public records · 44 Days on market

Built 1980 $683/mo HOA · 31% of rent

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Why this score? — see what drove the D 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 +10.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stunning 2 bedroom 2 bathrooms condo. No age restriction. Efficient layout makes it feel larger than its listed square footage. Generous amounts of closet space and storage. Updated kitchen, new stainless steel appliances. Updated bathrooms and master closet. Air conditioner and water heater replaced within last 5 yrs, new tile floors in living area and wood floors in bedrooms. Full size washer and dryer in unit. Freshly painted. Screened in balcony with lake and garden views. New roof 2025 and new paving 2026. Association maintains full reserves and insurance in place. Association fee includes water, trash, roof maintenance. There is onsite Property Management. Amenities includes Clubhouse

Key facts

• Master closet
• Updated bathrooms
• Updated kitchen

Tags

• EFFICIENT LAYOUT
• UPDATED KITCHEN
• NEW STAINLESS STEEL APPLIANCES
• UPDATED BATHROOMS
• MASTER CLOSET
• AIR CONDITIONER REPLACED

Property features AI

Finance

• Other: Heated pool
• Financial info: Pets allowed (dogs OK)
• HOA & community: Monthly association fee; Association fee covers maintenance (structure), recreation facilities, reserve fund, roof, sewer, trash, water; Community amenities include basketball court, clubhouse, fitness center, barbecue, picnic area, pool, storage, tennis courts

Exterior

• Parking: Two or more parking spaces
• Utilities: Has heating and cooling (electric)
• Home design: 2-story property; Entry on level 2; Has a view; Attached property
• Construction: Block construction; Resale property
• Exterior features: Enclosed porch; Screened porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $183k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (10.6% below list).
• Meets the 1% rule at list price ($2k rent vs $183k).
• Recommended offer: $164k (10.6% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 4.3% in Margate — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 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 42% 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 $1k of loan paydown is wiped out by about $5k 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 44 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $115k; list at $183k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,582 (10.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 5.58%
• Cash-on-cash: -2.56%
• DSCR: 0.89
• GRM: 7.0

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: -22.1%
• Equity multiple: 0.25×
• Total profit: $-38,524
• Equity at exit: $27,271

10-year hold

• IRR: -19.6%
• Equity multiple: 0.02×
• Total profit: $-50,215
• Equity at exit: $15,814

Cash invested: $51,212 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,184 high
• Mortgage (P&I): −$959
• Tax from tax record: −$116 /mo · $1,397/yr
• Insurance: −$76
• HOA: −$683
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-109

Break-even live

Break-even rent $2,323

Max offer price $163,582

Occupancy floor —

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: $45,725
• Closing costs: $5,487
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 E Laurel Dr Unit 4D Margate, FL	2.0	2.0	1019	$2,150	$2.11	24d	1	0.05mi
5534 Lakewood Cir S Unit H Margate, FL	2.0	2.0	984	$2,400	$2.44	3d	1	0.19mi
5510 Lakewood Cir S Unit C Margate, FL	3.0	2.0	1176	$2,500	$2.13	17d	1	0.22mi
5540 Lakewood Cir S Unit F Margate, FL	3.0	3.0	1176	$2,500	$2.13	15d	1	0.27mi
834 Banks Rd Coconut Creek, FL	2.0	1.5	1054	$2,300	$2.18	11d	1	0.41mi
4768 W Atlantic Blvd Margate, FL	1.0–3.0	1.0–2.0	982	$2,372	$2.41	1d	3	0.43mi
4979 SW 4th St Margate, FL	3.0	2.0	1056	$3,350	$3.17	20d	1	0.52mi
721 Lyons Rd #15207 Coconut Creek, FL	2.0	2.0	1200	$1,980	$1.65	24d	1	0.57mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	5d	1	0.60mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	24d	1	0.60mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	0.63mi
651 Lyons Rd #10104 Coconut Creek, FL	1.0	1.0	761	$1,780	$2.34	15d	1	0.65mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	24d	2	0.66mi
6000 NW 7th St Margate, FL	2.0	1.0	885	$1,895	$2.14	2d	1	0.68mi
821 Lyons Rd #21102 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	24d	1	0.68mi
601 Lyons Rd #7105 Coconut Creek, FL	2.0	2.0	975	$2,050	$2.10	24d	1	0.70mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$2,446	$2.84	1d	9	0.71mi
841 Lyons Rd #24201 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	24d	1	0.74mi
911 Lyons Rd #2207 Coconut Creek, FL	1.0	1.0	821	$1,600	$1.95	24d	1	0.80mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	22d	4	0.86mi
611 S State Road 7 Unit 1B Margate, FL	2.0	2.0	960	$2,150	$2.24	24d	1	0.86mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.86mi
6162 SW 5th St Margate, FL	2.0	2.0	1174	$2,500	$2.13	16d	1	0.86mi
613 S State Road 7 Unit 3G Margate, FL	2.0	2.0	960	$2,100	$2.19	5d	1	0.87mi
613 S State Road 7 Unit 3E Margate, FL	2.0	2.0	1005	$1,900	$1.89	24d	1	0.87mi
4303 W Atlantic Blvd Coconut Creek, FL	1.0–2.0	1.0	999	$2,250	$2.25	2d	2	0.88mi
601 S State Road 7 Unit 2H Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.89mi
601 S State Road 7 Unit 2C Margate, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.89mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	24d	1	0.90mi
605 S State Road 7 Unit 1 Margate, FL	2.0	1.0	850	$1,790	$2.11	3d	1	0.90mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	3d	1	0.90mi
5800 Margate Blvd Unit 521-5 Margate, FL	1.0	1.0	800	$1,700	$2.12	24d	1	0.90mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	0.90mi
607 S State Road 7 Unit 1G Margate, FL	2.0	2.0	940	$1,750	$1.86	15d	1	0.93mi
609 S State Road 7 Unit 1C Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.93mi
543 SW 61st Ter #1 Margate, FL	2.0	2.0	1482	$2,525	$1.70	22d	1	0.95mi
1505 NW 58th Ave Unit 1505 Margate, FL	3.0	1.0	959	$2,680	$2.79	3d	1	1.04mi
1141 W River Dr Margate, FL	2.0	2.0	1100	$1,800	$1.64	22d	1	1.08mi
1000 SW 46th Ave Pompano Beach, FL	1.0–3.0	1.0–2.0	1026	$2,608	$2.54	1d	15	1.17mi
6777 NW 4th St Margate, FL	3.0	2.0	1306	$3,600	$2.76	24d	1	1.21mi

HOA detail condo

• Monthly dues: $683 · $8,196/yr
• Likely covers: watertrashroof
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $182,900 Active 44 DOM
2. 2026-06-17
   days on market $182,900 Active 43 DOM
3. 2026-06-16
   days on market $182,900 Active 42 DOM
4. 2026-06-15
   days on market $182,900 Active 41 DOM
5. 2026-06-13
   days on market $182,900 Active 39 DOM
6. 2026-06-09
   days on market $182,900 Active 35 DOM
7. 2026-06-08
   pricedays on market $182,900 Active 34 DOM
8. 2026-06-07
   days on market $184,990 Active 33 DOM
9. 2026-06-04
   days on market $184,990 Active 30 DOM
10. 2026-06-03
    days on market $184,990 Active 29 DOM
11. 2026-06-02
    days on market $184,990 Active 28 DOM
12. 2026-06-01
    days on market $184,990 Active 27 DOM
13. 2026-05-31
    days on market $184,990 Active 26 DOM
14. 2026-05-05
    listed $184,990 Active
15. 2020-01-04
    historical
16. 2019-10-18
    status Pending
17. 2018-12-12
    soldstatus $115,000
18. 2018-10-03
    status Pending
19. 2018-07-13
    listed $120,000 Active
20. 2013-06-24
    soldstatus $45,000
21. 2007-06-19
    soldstatus $165,000
22. 1997-09-24
    soldstatus $49,000
23. 1986-10-27
    soldstatus $47,500

ⓘ 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: $1,397 · $116/mo
• Projected year-2 tax: $1,518 · $127/mo
• Expected delta: +$121/yr (+$10/mo · 8.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,209
• − Mortgage interest: −$10,245
• − Property taxes: −$1,397
• − Insurance: −$914
• − Repairs & maintenance: −$2,097
• − Management: −$2,097
• − HOA: −$8,196
• − Depreciation: −$5,321
• Taxable loss: −$4,058
• Est. tax savings @ 24.0%: +$974
• After-tax cash flow: $-338/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

+289.5% since first listed

10 events — show timeline

• 2026-05-05 Listed $184,990 MARMLS
• 2020-01-04 Listing Removed — MARMLS
• 2019-10-18 Pending — MARMLS
• 2018-12-12 Sold (Public Records) $115,000 Public Records
• 2018-10-03 Pending — MARMLS
• 2018-07-13 Listed $120,000 MARMLS
• 2013-06-24 Sold (Public Records) $45,000 Public Records
• 2007-06-19 Sold (Public Records) $165,000 Public Records
• 1997-09-24 Sold (Public Records) $49,000 Public Records
• 1986-10-27 Sold (Public Records) $47,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,397 · +3.1% YoY. Source: county tax records.