5520 Lakeside Dr #105 · Margate, FL 33063

$199,500

2 bd · 2.0 ba · 815 sqft · Condo public records · 90 Days on market

Built 1985 $432/mo HOA · 21% 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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICED TO SELL FAST! Experience serene waterfront living in this beautifully maintained and updated, ground-floor condo in a secluded Gated waterfront community in the heart of Margate. Where breathtaking lake views and modern comforts meet, this move-in-ready unit features a bright, open-concept layout with uniform tile flooring throughout, a modern kitchen equipped with stainless steel appliances, and a primary living area that flows seamlessly through sliding glass doors to a private, screened porch perfect for enjoying the tropical South Florida breeze. Enjoy the peace of mind of being storm-ready with impact windows and doors as well as a washer and dryer conveniently inside your unit.

Key facts

• Waterfront living
• Modern kitchen
• $432 HOA

Tags

• WATERFRONT LIVING
• GATED WATERFRONT COMMUNITY
• BREATHTAKING LAKE VIEWS
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE SCREENED PORCH

Property features AI

Finance

• Other: Association pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include a pool; Association covers management, amenities, common areas, insurance, grounds maintenance, structure maintenance, roof, sewer, security, trash and water

Exterior

• Parking: Assigned parking (one space)
• Security: Security/high-impact doors; Phone entry
• Utilities: Water and sewer included in association; Electric service
• Home design: Attached property; 2 stories; First-floor entry
• Construction: Block construction; Resale property
• Exterior features: Enclosed porch; Screened porch; Lakefront; Has a view; Complex fenced

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Impact glass windows; Bedroom on main level; First-floor entry
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-43 ($-518/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (3.8% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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.
• 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 rising (+1.9%/yr); 560 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 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 90 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $200k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,530 (6.0% 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 90 days. Have you received any prior offers? Is the seller open to a 6% 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: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• 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: -19.1%
• Equity multiple: 0.34×
• Total profit: $-37,015
• Equity at exit: $29,746

10-year hold

• IRR: -14.3%
• Equity multiple: 0.22×
• Total profit: $-43,546
• Equity at exit: $17,249

Cash invested: $55,860 (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: 560
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,011 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$71 /mo · $849/yr
• Insurance: −$83
• HOA: −$432
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-43

Break-even live

Break-even rent $2,066

Max offer price $191,870

Occupancy floor 97%

Sensitivity live

Price	-10% $70	-5% $13	+0% $-43	+5% $-100	+10% $-156
Rent	-10% $-202	-5% $-123	+0% $-43	+5% $36	+10% $116
Rate	-1.0pp $57	-0.5pp $8	base $-43	+0.5pp $-95	+1.0pp $-147

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$2,446	$2.84	0d	10	0.26mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	16d	1	0.29mi
834 Banks Rd Coconut Creek, FL	2.0	1.5	1054	$2,300	$2.18	13d	1	0.33mi
6000 NW 7th St Margate, FL	2.0	1.0	885	$1,895	$2.14	4d	1	0.44mi
5534 Lakewood Cir S Unit H Margate, FL	2.0	2.0	984	$2,400	$2.44	4d	1	0.45mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	9d	1	0.47mi
380 E Laurel Dr Unit 4D Margate, FL	2.0	2.0	1019	$2,150	$2.11	26d	1	0.48mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	26d	1	0.49mi
5800 Margate Blvd Unit 521-5 Margate, FL	1.0	1.0	800	$1,700	$2.12	26d	1	0.49mi
1505 NW 58th Ave Unit 1505 Margate, FL	3.0	1.0	959	$2,680	$2.79	4d	1	0.59mi
821 Lyons Rd #21102 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	26d	1	0.59mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	22d	1	0.62mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	9d	2	0.63mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	24d	1	0.63mi
841 Lyons Rd #24201 Coconut Creek, FL	2.0	2.0	975	$2,100	$2.15	26d	1	0.64mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	6d	1	0.64mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	26d	1	0.64mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	26d	1	0.65mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,790	$2.17	0d	1	0.65mi
651 Lyons Rd #10104 Coconut Creek, FL	1.0	1.0	761	$1,780	$2.34	17d	1	0.67mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	26d	2	0.67mi
601 Lyons Rd #7105 Coconut Creek, FL	2.0	2.0	975	$2,050	$2.10	26d	1	0.70mi
1141 W River Dr Margate, FL	2.0	2.0	1100	$1,800	$1.64	24d	1	0.73mi
911 Lyons Rd #2207 Coconut Creek, FL	1.0	1.0	821	$1,600	$1.95	26d	1	0.73mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	24d	4	0.73mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	0d	4	0.73mi
4768 W Atlantic Blvd Margate, FL	1.0–3.0	1.0–2.0	982	$2,372	$2.41	3d	3	0.78mi
5641 SW 2nd Ct #212 Margate, FL	1.0	1.0	680	$1,200	$1.76	26d	1	0.80mi
4979 SW 4th St Margate, FL	3.0	2.0	1056	$3,350	$3.17	22d	1	0.97mi
613 S State Road 7 Unit 3E Margate, FL	2.0	2.0	1005	$1,900	$1.89	26d	1	1.12mi
613 S State Road 7 Unit 3G Margate, FL	2.0	2.0	960	$2,100	$2.19	7d	1	1.12mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	26d	1	1.12mi
611 S State Road 7 Unit 1B Margate, FL	2.0	2.0	960	$2,150	$2.24	26d	1	1.12mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	26d	1	1.15mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	5d	1	1.15mi
605 S State Road 7 Unit 1 Margate, FL	2.0	1.0	850	$1,790	$2.11	4d	1	1.15mi
4303 W Atlantic Blvd Coconut Creek, FL	1.0–2.0	1.0	999	$2,250	$2.25	0d	4	1.16mi
601 S State Road 7 Unit 2C Margate, FL	2.0	2.0	960	$2,100	$2.19	26d	1	1.18mi
601 S State Road 7 Unit 2H Margate, FL	2.0	2.0	960	$1,900	$1.98	26d	1	1.18mi
609 S State Road 7 Unit 1C Margate, FL	2.0	2.0	960	$1,900	$1.98	26d	1	1.19mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-21
   days on market $199,500 Active 90 DOM
2. 2026-06-18
   days on market $199,500 Active 87 DOM
3. 2026-06-17
   days on market $199,500 Active 86 DOM
4. 2026-06-16
   days on market $199,500 Active 85 DOM
5. 2026-06-15
   days on market $199,500 Active 84 DOM
6. 2026-06-13
   days on market $199,500 Active 82 DOM
7. 2026-06-09
   days on market $199,500 Active 78 DOM
8. 2026-06-08
   pricedays on market $199,500 Active 77 DOM
9. 2026-06-07
   days on market $219,000 Active 76 DOM
10. 2026-06-04
    days on market $219,000 Active 73 DOM
11. 2026-06-03
    days on market $219,000 Active 72 DOM
12. 2026-06-02
    days on market $219,000 Active 71 DOM
13. 2026-06-01
    days on market $219,000 Active 70 DOM
14. 2026-05-31
    days on market $219,000 Active 69 DOM
15. 2026-05-11
    price $219,000
16. 2026-03-23
    listed $229,000 Active
17. 1985-08-01
    soldstatus $57,000
18. 1985-08-01
    soldstatus $57,000

ⓘ 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: $849 · $71/mo
• Projected year-2 tax: $1,656 · $138/mo
• Expected delta: +$806/yr (+$67/mo · 95.0%)

ⓘ 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 5 d/yr ≥106°F today · 19 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: $24,135
• − Mortgage interest: −$11,175
• − Property taxes: −$849
• − Insurance: −$998
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − HOA: −$5,184
• − Depreciation: −$5,804
• Taxable loss: −$3,736
• Est. tax savings @ 24.0%: +$897
• After-tax cash flow: $378/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

+284.2% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $219,000 MARMLS
• 2026-03-23 Listed $229,000 MARMLS
• 1985-08-01 Sold (Public Records) $57,000 Public Records
• 1985-08-01 Sold (Public Records) $57,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $849 · +1.0% YoY. Source: county tax records.