504 Gardens Dr #203 · Pompano Beach, FL 33069

$199,999

2 bd · 1.0 ba · 880 sqft · Condo public records · 11 Days on market

Built 1984

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Appreciation +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

This Second Floor Condo Features Two Bedrooms Plus Office and One Bathroom. Located in Gardens North. All Ages Welcome!! Pet Friendly Community!! Lease Right Away!! Sold Furnished! Washer & Dryer In Unit! No Special Assessments. 40 Year Recertification Complete! A/C 2019, Water Heater 2012, Roof 2020/2019 Amenities Include: Tennis Courts, Basketball Court, Fully Equipped Gym, Sauna, Swimming Pool & Social Center. Nearby 95, Sawgrass, Dining, Shopping & Much More! The Gardens is A 576-unit Condominium Association Located in the City of Pompano Beach. Their Well Cared for Property Features 67 Two-story Garden-style Condominiums With One And Two Bedroom (plus Office) Units. S

Key facts

• Sauna
• Tennis courts
• Swimming pool

Tags

• WASHER & DRYER IN UNIT
• TENNIS COURTS
• BASKETBALL COURT
• FULLY EQUIPPED GYM
• SAUNA
• SWIMMING POOL

Property features AI

Finance

• Other: Resale property; Land not leased

Exterior

• Parking: Assigned parking; Guest parking; Open parking (total 1)
• Security: Other security features
• Utilities: Public water; Public sewer; Other utilities
• Home design: Condominium; Two-story building; North-facing
• Construction: Built with CBS construction materials; Other-type roof
• Exterior features: Not waterfront; Second-floor entry

Interior

• Kitchen: Dishwasher; Electric range; Built-in microwave; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Furnished; Blinds on windows; Electric water heater; Garbage disposal
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (4.4% below list).
• Recommended offer: $191k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.1% in Pompano Beach — 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 74/100 on livability (#284 in FL, #4,541 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: employment D+, 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.3%/yr); 445 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($60k/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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $49k; list at $200k implies a 305% gain — meaningful room to come down on a strong offer.

Recommended offer $191,220 (4.4% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 8.7

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-17,221
• Equity at exit: $29,821

10-year hold

• IRR: -3.1%
• Equity multiple: 0.82×
• Total profit: $-10,141
• Equity at exit: $17,292

Cash invested: $56,000 (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 33069

• Home prices YoY: -1.1%
• Rents YoY: -0.3%
• Active inventory: 445
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $328

Break-even live

Break-even rent $1,497

Max offer price $199,999

Occupancy floor 78%

Sensitivity live

Price	-10% $441	-5% $385	+0% $328	+5% $271	+10% $215
Rent	-10% $177	-5% $252	+0% $328	+5% $403	+10% $479
Rate	-1.0pp $429	-0.5pp $379	base $328	+0.5pp $276	+1.0pp $223

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	3d	1	0.03mi
503 Gardens Dr #202 Pompano Beach, FL	2.0	1.0	880	$1,900	$2.16	25d	1	0.03mi
606 Gardens Dr Pompano Beach, FL	2.0	2.0	1090	$2,200	$2.02	6d	1	0.05mi
407 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.07mi
514 Gardens Dr #101 Pompano Beach, FL	2.0	2.0	830	$2,000	$2.41	25d	1	0.09mi
512 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	830	$1,900	$2.29	9d	1	0.11mi
115 Gardens Dr #202 Pompano Beach, FL	2.0	2.0	1090	$1,950	$1.79	25d	1	0.13mi
304 Gardens Dr Pompano Beach, FL	2.0	2.0	900	$1,950	$2.17	25d	1	0.14mi
303 Gardens Dr #206 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	19d	1	0.15mi
1261 SW 46th Ave #2016 Pompano Beach, FL	1.0	1.0	785	$1,600	$2.04	14d	1	0.18mi
717 Gardens Dr #201 Pompano Beach, FL	2.0	2.0	930	$2,100	$2.26	25d	1	0.18mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	15d	1	0.18mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	9d	1	0.18mi
1253 SW 46th Ave #1608 Pompano Beach, FL	1.0	1.0	785	$1,699	$2.16	25d	1	0.18mi
715 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1000	$2,150	$2.15	6d	1	0.19mi
715 Gardens Dr Pompano Beach, FL	2.0	2.0	1000	$2,150	$2.15	23d	1	0.19mi
110 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1080	$2,200	$2.04	5d	1	0.20mi
110 Gardens Dr #203 Pompano Beach, FL	2.0	2.0	1090	$2,000	$1.83	25d	1	0.20mi
1263 SW 46th Ave #2109 Pompano Beach, FL	2.0	1.0	903	$2,000	$2.21	16d	1	0.20mi
107 Gardens Dr #205 Pompano Beach, FL	1.0	1.0	680	$1,600	$2.35	3d	1	0.21mi
1269 SW 46th Ave #2408 Pompano Beach, FL	2.0	2.0	1073	$2,150	$2.00	23d	1	0.21mi
1267 SW 46th Ave #2315 Pompano Beach, FL	1.0	1.0	785	$1,490	$1.90	5d	1	0.22mi
1281 SW 46th Ave Pompano Beach, FL	1.0	1.0	813	$1,650	$2.03	25d	1	0.23mi
1281 SW 46th Ave #2514 Pompano Beach, FL	1.0	1.0	813	$1,650	$2.03	23d	1	0.23mi
1245 SW 46th Ave #1204 Pompano Beach, FL	1.0	1.0	813	$1,675	$2.06	3d	1	0.24mi
1245 SW 46th Ave #1215 Pompano Beach, FL	1.0	1.0	813	$2,000	$2.46	25d	1	0.24mi
1285 SW 46th Ave #2709 Pompano Beach, FL	1.0	1.0	785	$1,600	$2.04	25d	1	0.26mi
1243 SW 46th Ave #1111 Pompano Beach, FL	1.0	1.0	813	$1,550	$1.91	4d	1	0.27mi
1243 SW 46th Ave #1111 Pompano Beach, FL	1.0	1.0	813	$1,550	$1.91	5d	1	0.27mi
1227 SW 46th Ave #303 Pompano Beach, FL	1.0	1.0	785	$1,550	$1.97	25d	1	0.27mi
1231 SW 46th Ave #505 Pompano Beach, FL	1.0	1.0	813	$1,700	$2.09	9d	1	0.29mi
1241 SW 46th Ave #1006 Pompano Beach, FL	2.0	2.0	1073	$1,900	$1.77	25d	1	0.29mi
4581 W McNab Rd #20 Pompano Beach, FL	1.0	1.0	600	$1,640	$2.73	22d	1	0.29mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,595	$2.98	18d	2	0.29mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,600	$2.99	4d	3	0.29mi
4561 W McNab Rd #21 Pompano Beach, FL	2.0	1.0	800	$1,895	$2.37	25d	1	0.31mi
1239 SW 46th Ave #905 Pompano Beach, FL	1.0	1.0	785	$1,520	$1.94	16d	1	0.31mi
1239 SW 46th Ave #905 Pompano Beach, FL	1.0	1.0	785	$1,520	$1.94	9d	1	0.31mi
4541 W McNab Rd Pompano Beach, FL	2.0	2.0	980	$2,075	$2.12	25d	2	0.34mi
4521 W McNab Rd #30 Pompano Beach, FL	1.0	1.0	620	$1,700	$2.74	3d	1	0.36mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $199,999 Active 11 DOM
2. 2026-06-18
   days on market $199,999 Active 8 DOM
3. 2026-06-17
   days on market $199,999 Active 7 DOM
4. 2026-06-16
   days on market $199,999 Active 6 DOM
5. 2026-06-15
   days on market $199,999 Active 5 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $199,999 Active 3 DOM

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$1,053/yr (+$88/mo · 173.5%)

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

Taxation est. · year 1

• Rental income: $22,946
• − Mortgage interest: −$11,203
• − Property taxes: −$607
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,818
• Taxable income: $647
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $3,780/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 — Pompano Beach

• Score: 74/100
• State rank: #284
• US rank: #4541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pompano Beach, FL
• County: Broward County · 1,963,430 people
• City population: 155,861
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,145
• Household income: $59,683
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1670.0

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: Black 33% White 32% Hispanic / Latino 26% Two or more races 21% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3% Dominican 2%
• Common ancestry: Hispanic 9% Estonian 2% Romanian 2%
• Foreign-born: 33% · Canada, Jamaica
• Languages at home: 61% English-only · Spanish 23% French/Haitian/Cajun 9% Other Indo-European 5%

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: ▼ -3.16%
• Current HPI: 297.1774
• Rent YoY: ▼ -0.29%
• 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

+304.9% since first listed

8 events — show timeline

• 2026-06-09 Listed $199,999 Beaches MLS
• 2026-05-14 Listing Removed — Beaches MLS
• 2026-04-27 Price Changed $199,999 Beaches MLS
• 2025-11-15 Listed $189,000 Beaches MLS
• 2025-11-14 Listing Removed — MARMLS
• 2025-09-29 Listed $189,000 MARMLS
• 1984-09-01 Sold (Public Records) $49,400 Public Records
• 1984-09-01 Sold (Public Records) $49,400 Public Records

Property tax history

+1.0%/yr

Latest (2025): $607 · +6.8% YoY. Source: county tax records.