5531 Lakeside Dr #202 · Margate, FL 33063

$199,000

2 bd · 2.0 ba · 815 sqft · Condo public records · 64 Days on market

Built 1986 $432/mo HOA · 22% 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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity in a beautifully maintained lakefront condo complex in Margate. Second floor unit with views of the large community pool and lake. Open floorplan leads out to a screened in balcony. Two bedroom and two bathrooms. Storage closet. Washer and Dryer. Minutes from local restaurants, shopping, and major highways. One of Margate's best kept affordable secrets!

Key facts

• Community pool
• Washer and dryer
• Screened in balcony

Tags

• LAKEFRONT CONDO
• COMMUNITY POOL
• SCREENED IN BALCONY
• STORAGE CLOSET
• WASHER AND DRYER

Property features AI

Finance

• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: Association: Viewpointe Condo; Monthly HOA fee; Association amenities include pool, maintained community, and maintenance services; HOA covers insurance, grounds maintenance, structure maintenance, security, sewer, trash, water, common areas, roof repairs, and pool service

Exterior

• Parking: Assigned parking (1 space)
• Security: Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium (Viewpointe Condo); One level; Faces north; Resale condition
• Construction: Stucco and CBS construction; Tar/gravel roof; Built as part of a 2-story building
• Exterior features: Perimeter fencing; Waterfront property (other waterfront feature); Paved public road frontage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Ceiling fan(s) for cooling
• Interior features: Walk-in closet(s); Bedroom layout with stacked bedrooms; Blinds on windows; Smoke detector(s); Security gate
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (9.6% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $180k (9.6% 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.
• Zoned schools: Liberty Elementary School (math 29% / reading 40%, grade F, #1,709 of 2,144 statewide, top 81%, 732 students, 73% FRL); Margate Middle School (math 25% / reading 34%, grade F, #469 of 571 statewide, top 84%, 1,094 students, 77% FRL); Coconut Creek High School (math 13% / reading 26%, grade F, #562 of 667 statewide, top 85%, 1,892 students, 72% FRL) — zoned schools average 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• 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 38% 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 $6k 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 64 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $199k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $179,809 (9.6% 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 64 days. Have you received any prior offers? Is the seller open to a 10% 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. 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. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.01% ✓
• Cap rate: 5.64%
• Cash-on-cash: -2.34%
• DSCR: 0.90
• GRM: 8.3

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-41,056
• Equity at exit: $29,672

10-year hold

• IRR: -18.3%
• Equity multiple: 0.06×
• Total profit: $-52,242
• Equity at exit: $17,206

Cash invested: $55,720 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$133 /mo · $1,597/yr
• Insurance: −$83
• HOA: −$432
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-109

Break-even live

Break-even rent $2,141

Max offer price $179,809

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	15d	1	0.30mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$2,446	$2.84	2d	9	0.33mi
6000 NW 7th St Margate, FL	2.0	1.0	885	$1,895	$2.14	2d	1	0.36mi
5534 Lakewood Cir S Unit H Margate, FL	2.0	2.0	984	$2,400	$2.44	3d	1	0.39mi
834 Banks Rd Coconut Creek, FL	2.0	1.5	1054	$2,300	$2.18	11d	1	0.39mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	7d	1	0.43mi
380 E Laurel Dr Unit 4D Margate, FL	2.0	2.0	1019	$2,150	$2.11	24d	1	0.46mi
5800 Margate Blvd Unit 521-5 Margate, FL	1.0	1.0	800	$1,700	$2.12	24d	1	0.48mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	0.48mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	24d	1	0.55mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	5d	1	0.55mi
1505 NW 58th Ave Unit 1505 Margate, FL	3.0	1.0	959	$2,680	$2.79	3d	1	0.63mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	22d	4	0.64mi
821 Lyons Rd #21102 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	24d	1	0.67mi
1141 W River Dr Margate, FL	2.0	2.0	1100	$1,800	$1.64	22d	1	0.69mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	20d	1	0.69mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	7d	2	0.69mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	22d	1	0.70mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	0.71mi
5641 SW 2nd Ct #212 Margate, FL	1.0	1.0	680	$1,200	$1.76	24d	1	0.72mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	4d	1	0.72mi
841 Lyons Rd #24201 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	24d	1	0.72mi
651 Lyons Rd #10104 Coconut Creek, FL	1.0	1.0	761	$1,780	$2.34	15d	1	0.73mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	24d	2	0.74mi
601 Lyons Rd #7105 Coconut Creek, FL	2.0	2.0	975	$2,050	$2.10	24d	1	0.77mi
4768 W Atlantic Blvd Margate, FL	1.0–3.0	1.0–2.0	982	$2,372	$2.41	1d	3	0.79mi
911 Lyons Rd #2207 Coconut Creek, FL	1.0	1.0	821	$1,600	$1.95	24d	1	0.81mi
4979 SW 4th St Margate, FL	3.0	2.0	1056	$3,350	$3.17	20d	1	0.92mi
613 S State Road 7 Unit 3E Margate, FL	2.0	2.0	1005	$1,900	$1.89	24d	1	1.03mi
613 S State Road 7 Unit 3G Margate, FL	2.0	2.0	960	$2,100	$2.19	5d	1	1.03mi
611 S State Road 7 Unit 1B Margate, FL	2.0	2.0	960	$2,150	$2.24	24d	1	1.04mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	1.04mi
605 S State Road 7 Unit 1 Margate, FL	2.0	1.0	850	$1,790	$2.11	3d	1	1.06mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	3d	1	1.06mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	24d	1	1.06mi
601 S State Road 7 Unit 2C Margate, FL	2.0	2.0	960	$2,100	$2.19	24d	1	1.09mi
601 S State Road 7 Unit 2H Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	1.09mi
607 S State Road 7 Unit 1G Margate, FL	2.0	2.0	940	$1,750	$1.86	15d	1	1.10mi
609 S State Road 7 Unit 1C Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	1.10mi
4303 W Atlantic Blvd Coconut Creek, FL	1.0–2.0	1.0	999	$2,250	$2.25	2d	2	1.19mi

HOA detail condo

• Monthly dues: $432 · $5,184/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $199,000 Active 64 DOM
2. 2026-06-17
   days on market $199,000 Active 63 DOM
3. 2026-06-16
   days on market $199,000 Active 62 DOM
4. 2026-06-15
   days on market $199,000 Active 61 DOM
5. 2026-06-13
   pricedays on market $199,000 Active 59 DOM
6. 2026-06-09
   days on market $215,000 Active 55 DOM
7. 2026-06-08
   days on market $215,000 Active 54 DOM
8. 2026-06-07
   days on market $215,000 Active 53 DOM
9. 2026-06-04
   days on market $215,000 Active 50 DOM
10. 2026-06-03
    days on market $215,000 Active 49 DOM
11. 2026-06-02
    days on market $215,000 Active 48 DOM
12. 2026-06-01
    days on market $215,000 Active 47 DOM
13. 2026-05-31
    days on market $215,000 Active 46 DOM
14. 2026-05-20
    price $215,000
15. 2026-04-13
    listed $230,000 Active
16. 2016-12-22
    soldstatus $100,000
17. 1993-08-27
    soldstatus $43,000

ⓘ 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: $1,597 · $133/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$55/yr (+$5/mo · 3.4%)

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

Taxation est. · year 1

• Rental income: $24,044
• − Mortgage interest: −$11,147
• − Property taxes: −$1,597
• − Insurance: −$995
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − HOA: −$5,184
• − Depreciation: −$5,789
• Taxable loss: −$4,515
• Est. tax savings @ 24.0%: +$1,084
• After-tax cash flow: $-220/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

+400.0% since first listed

4 events — show timeline

• 2026-05-20 Price Changed $215,000 Beaches MLS
• 2026-04-13 Listed $230,000 Beaches MLS
• 2016-12-22 Sold (Public Records) $100,000 Public Records
• 1993-08-27 Sold (Public Records) $43,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $1,597 · +3.0% YoY. Source: county tax records.