7640 NW 18th St #104 · Margate, FL 33063

$69,900

1 bd · 2.0 ba · 850 sqft · Condo public records · 58 Days on market

Built 1979 $475/mo HOA · 28% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great opportunity in Palm Springs Condominium! This 1 bed, 2 bath condo is perfectly positioned on the golf course with serene lake views. Enjoy a peaceful setting with beautiful greens and water right from your unit. Community features a clubhouse and each building has its own pool for added convenience. HOA approval required. $475/month includes cable, water, lawn care, exterior insurance, pest control, and garbage. One assigned parking space. Centrally located near shopping, dining, and major roads. Buyer and buyer’s agent to verify all information and perform their own due diligence. Some photos may be AI-enhanced for seller privacy; please contact the listing agent for additional

Key facts

• Clubhouse
• Lake views
• Pool

Tags

• LAKE VIEWS
• CLUBHOUSE
• POOL
• SHOPPING
• DINING
• MAJOR ROADS

Property features AI

Finance

• Other: Association pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers cable TV and water; Community clubhouse; Community pool; Located in a golf course community; Senior community

Exterior

• Parking: Guest parking; One assigned parking space
• Utilities: Water included in association fee; Central HVAC
• Home design: Attached property; 4 total stories; Entry level: 1
• Construction: Block construction; Effective year built
• Exterior features: Enclosed porch; Porch with screened area; Canal-front waterfront; On golf course; Has a view

Interior

• Kitchen: Built-in oven; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Tile flooring; Enclosed porch (interior access)
• Laundry & utility: Washer hookup; Dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 24d 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 32% 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 $483 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.44% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• GRM: 3.4

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: 19.0%
• Equity multiple: 1.76×
• Total profit: $14,881
• Equity at exit: $10,422

10-year hold

• IRR: 26.5%
• Equity multiple: 3.18×
• Total profit: $42,599
• Equity at exit: $6,044

Cash invested: $19,572 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$367
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$29
• HOA: −$475
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $435

Break-even live

Break-even rent $1,152

Max offer price $69,900

Occupancy floor 69%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7620 NW 18th St #203 Margate, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	0.14mi
1480 NW 80th Ave #402 Margate, FL	2.0	2.0	1000	$1,875	$1.88	7d	1	0.18mi
7420 NW 18th St #203 Margate, FL	2.0	2.0	1000	$1,800	$1.80	24d	1	0.18mi
7460 NW 18th St #201 Margate, FL	2.0	2.0	1000	$2,100	$2.10	24d	1	0.19mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	749	$1,575	$2.10	17d	2	0.21mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	757	$1,525	$2.01	20d	4	0.21mi
1700 NW 80th Ave #108 Margate, FL	2.0	2.0	1000	$1,800	$1.80	24d	1	0.22mi
7396 NW 18th St #104 Margate, FL	1.0	2.0	850	$1,600	$1.88	7d	1	0.23mi
7396 NW 18th St #104 Margate, FL	1.0	2.0	850	$1,680	$1.98	24d	1	0.23mi
7320 NW 18th St #204 Margate, FL	2.0	2.0	1000	$1,600	$1.60	24d	1	0.26mi
7797 Golf Circle Dr Margate, FL	1.0–2.0	1.0–2.0	834	$1,450	$1.74	4d	2	0.27mi
7797 Golf Circle Dr #310 Margate, FL	2.0	2.0	930	$1,800	$1.94	24d	1	0.27mi
7310 NW 18th St #107 Margate, FL	2.0	2.0	1000	$1,900	$1.90	24d	1	0.31mi
1030 Country Club Dr #309 Margate, FL	2.0	2.0	1038	$1,450	$1.40	24d	1	0.33mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	18d	1	0.33mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	4d	1	0.33mi
1035 Country Club Dr Margate, FL	1.0–2.0	1.0–2.0	925	$1,390	$1.50	24d	2	0.33mi
1020 NW 80th Ave #203 Margate, FL	2.0	2.0	1000	$1,900	$1.90	12d	1	0.34mi
1020 NW 80th Ave #203 Margate, FL	2.0	2.0	1000	$1,900	$1.90	2d	1	0.34mi
7380 NW 18th St Margate, FL	2.0	2.0	1000	$1,825	$1.82	4d	2	0.34mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,349	$1.78	4d	2	0.38mi
7370 NW 18th St #107 Margate, FL	2.0	2.0	1000	$2,050	$2.05	22d	1	0.39mi
1010 Country Club Dr #206 Margate, FL	1.0	1.5	775	$1,450	$1.87	24d	1	0.40mi
1025 Country Club Dr #302 Margate, FL	2.0	2.0	920	$1,475	$1.60	24d	1	0.40mi
7897 Golf Circle Dr #108 Margate, FL	1.0	1.5	775	$1,450	$1.87	16d	1	0.44mi
1005 Country Club Dr Margate, FL	2.0	2.0	925	$1,475	$1.59	22d	2	0.44mi
1045 NW 73rd Ave Margate, FL	2.0	1.0	1036	$2,500	$2.41	24d	1	0.49mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,250	$2.12	17d	1	0.55mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,200	$2.07	7d	1	0.55mi
7605 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,500	$1.52	24d	1	0.64mi
7600 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,600	$1.62	24d	1	0.66mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	24d	1	0.67mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	16d	1	0.67mi
7605 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,350	$2.01	24d	1	0.68mi
7305 NW 5th Pl #206 Margate, FL	2.0	2.0	990	$1,650	$1.67	24d	1	0.69mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	24d	1	0.74mi
7600 NW 4th Pl #207 Margate, FL	2.0	2.0	990	$1,700	$1.72	24d	1	0.75mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	24d	1	0.76mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	2d	1	0.76mi
6890 Royal Palm Blvd Unit 209H Margate, FL	1.0	1.5	720	$1,450	$2.01	24d	1	0.76mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Likely covers: watertrashcablelandscapingpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-04
   days on market $69,900 Active 58 DOM
2. 2026-06-03
   days on market $69,900 Active 57 DOM
3. 2026-06-02
   pricedays on market $69,900 Active 56 DOM
4. 2026-06-01
   days on market $79,900 Active 55 DOM
5. 2026-05-31
   days on market $79,900 Active 54 DOM
6. 2026-05-11
   price $79,900
7. 2026-04-24
   price $96,500
8. 2026-04-07
   listed $99,000 Active
9. 2003-02-27
   soldstatus $47,000
10. 1979-07-01
    soldstatus $38,000

ⓘ 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: $475 · $40/mo
• Projected year-2 tax: $580 · $48/mo
• Expected delta: +$106/yr (+$9/mo · 22.2%)

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

Taxation est. · year 1

• Rental income: $20,437
• − Mortgage interest: −$3,915
• − Property taxes: −$475
• − Insurance: −$350
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − HOA: −$5,700
• − Depreciation: −$2,033
• Taxable income: $4,694
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $4,096/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

+110.3% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $79,900 MARMLS
• 2026-04-24 Price Changed $96,500 MARMLS
• 2026-04-07 Listed $99,000 MARMLS
• 2003-02-27 Sold (Public Records) $47,000 Public Records
• 1979-07-01 Sold (Public Records) $38,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $475 · +4.3% YoY. Source: county tax records.