7220 Lake Cir Dr #101 · Margate, FL 33063

$119,000

2 bd · 2.0 ba · 1,110 sqft · Condo public records · 12 Days on market

Built 1980 $773/mo HOA · 40% 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).

• 1% rule +10.0/10.0
• Cash flow +7.9/30.0
• 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
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious first floor condo with fully a/c florida room with floor to ceiling windows. Freshly painted and move-in-ready. Updates to both Bathrooms and freshly cleaned carpets. Furniture is available or unfurnished. The community features 2 heated pools, tennis courts, clubhouse. Rare to find 55+ community that allows 2 pets under 20 lbs. Association requires min 650 credit score of 1 owner.

Key facts

• $773 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Association pool available
• Financial info: Pets are allowed
• HOA & community: Quarterly association fee; Association covers amenities, common areas, structure maintenance, parking, roof, and water; Community amenities include clubhouse, association pool, and elevators; Senior community

Exterior

• Parking: One parking space
• Utilities: Water service included in association; Electric service; Sewer service
• Home design: Attached property; 4-story building; Entry on level 1; Faces east
• Construction: Block construction; Effective year built
• Exterior features: Patio; No other exterior features listed

Interior

• Kitchen: Dryer; Dishwasher; Electric range; Refrigerator; Washer
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Ceramic tile; Hardwood; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Electric cooling
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (19.0% below list).
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $96k (19.0% below list) — sets the bar for cash-flow.

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 36% 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 $823 of loan paydown is wiped out by about $4k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,396 (19.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.60% ✓
• Cap rate: 5.00%
• Cash-on-cash: -4.61%
• DSCR: 0.79
• GRM: 5.2

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: -26.0%
• Equity multiple: 0.13×
• Total profit: $-28,919
• Equity at exit: $17,743

10-year hold

• IRR: -29.6%
• Equity multiple: -0.25×
• Total profit: $-41,621
• Equity at exit: $10,289

Cash invested: $33,320 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,909 high
• Mortgage (P&I): −$624
• Tax from tax record: −$190 /mo · $2,274/yr
• Insurance: −$50
• HOA: −$773
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-128

Break-even live

Break-even rent $2,071

Max offer price $96,396

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
357 N Rock Island Rd #207 Margate, FL	2.0	2.0	1100	$1,720	$1.56	24d	1	0.09mi
357 N Rock Island Rd #306 Margate, FL	2.0	2.0	1300	$1,850	$1.42	22d	1	0.09mi
357 N Rock Island Rd #207 Margate, FL	2.0	2.0	1100	$1,720	$1.56	10d	1	0.09mi
357 N Rock Island Rd #407 Margate, FL	2.0	2.0	1100	$1,700	$1.55	3d	1	0.09mi
7300 Lake Circle Dr #107 Margate, FL	2.0	2.0	1100	$1,850	$1.68	14d	1	0.09mi
7431 NW 1st St Margate, FL	2.0	2.0	1100	$1,900	$1.73	24d	1	0.10mi
7561 NW 1st St #204 Margate, FL	1.0	2.0	960	$1,750	$1.82	5d	1	0.11mi
7205 W Atlantic Blvd #101 Margate, FL	2.0	2.0	990	$1,500	$1.52	24d	1	0.19mi
260 NW 76th Ave #404 Margate, FL	1.0	2.0	960	$1,500	$1.56	24d	1	0.20mi
260 NW 76th Ave #406 Margate, FL	2.0	2.0	1100	$1,700	$1.55	24d	1	0.20mi
370 NW 76th Ave #202 Margate, FL	2.0	2.0	1100	$1,950	$1.77	11d	1	0.21mi
7300 NW 4th Pl #101 Margate, FL	2.0	2.0	990	$1,400	$1.41	20d	1	0.22mi
480 NW 76th Ave #105 Margate, FL	1.0	2.0	960	$1,500	$1.56	24d	1	0.23mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	24d	1	0.27mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	3d	1	0.27mi
7600 NW 4th Pl #207 Margate, FL	2.0	2.0	990	$1,700	$1.72	24d	1	0.31mi
7461 SW 1st St Margate, FL	3.0	2.0	1350	$3,200	$2.37	12d	1	0.32mi
7305 NW 5th Pl #206 Margate, FL	2.0	2.0	990	$1,650	$1.67	24d	1	0.34mi
7600 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,600	$1.62	24d	1	0.37mi
7605 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,500	$1.52	24d	1	0.40mi
7814 NW 1st Ct Margate, FL	3.0	2.0	1469	$2,950	$2.01	7d	1	0.43mi
7306 SW 3rd Ct North Lauderdale, FL	3.0	2.0	1288	$2,685	$2.08	20d	1	0.46mi
6777 NW 4th St Margate, FL	3.0	2.0	1306	$3,600	$2.76	24d	1	0.48mi
272 NW 79th Ave Margate, FL	3.0	2.0	1433	$3,500	$2.44	2d	1	0.49mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,200	$2.07	7d	1	0.57mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,250	$2.12	17d	1	0.57mi
7897 Golf Circle Dr #108 Margate, FL	1.0	1.5	775	$1,450	$1.87	16d	1	0.57mi
551 Kathy Ct Margate, FL	2.0	1.0–2.0	851	$1,945	$2.29	3d	2	0.58mi
563 Kathy Ct Margate, FL	2.0	2.0	875	$2,035	$2.33	24d	1	0.60mi
1045 NW 73rd Ave Margate, FL	2.0	1.0	1036	$2,500	$2.41	24d	1	0.61mi
568 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	24d	1	0.61mi
1010 Country Club Dr #206 Margate, FL	1.0	1.5	775	$1,450	$1.87	24d	1	0.64mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,450	$1.92	5d	2	0.64mi
631 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	17d	1	0.68mi
1005 Country Club Dr Margate, FL	2.0	2.0	925	$1,475	$1.59	22d	2	0.68mi
7901 Southgate Blvd Apt C5 North Lauderdale, FL	2.0	2.0	1010	$2,100	$2.08	3d	1	0.71mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	4d	1	0.73mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	18d	1	0.73mi
1030 Country Club Dr #309 Margate, FL	2.0	2.0	1038	$1,450	$1.40	24d	1	0.73mi
1025 Country Club Dr #302 Margate, FL	2.0	2.0	920	$1,475	$1.60	24d	1	0.73mi

HOA detail condo

• Monthly dues: $773 · $9,276/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $119,000 Active 12 DOM
2. 2026-06-17
   price $119,000 Active 11 DOM
3. 2026-06-17
   days on market $125,000 Active 11 DOM
4. 2026-06-16
   days on market $125,000 Active 10 DOM
5. 2026-06-15
   days on market $125,000 Active 9 DOM
6. 2026-06-13
   days on market $125,000 Active 7 DOM
7. 2026-06-09
   days on market $125,000 Active 3 DOM
8. 2026-06-08
   days on market $125,000 Active 2 DOM
9. 2026-06-07
   remarks 449-char remark
10. 2026-06-07
    status $125,000 Active 1 DOM
11. 2026-06-02
    remarks 433-char remark
12. 2026-06-02
    listed $125,000 Pending 1 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: $2,274 · $190/mo
• Projected year-2 tax: $2,274 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7 d/yr ≥106°F today · 28 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: $22,909
• − Mortgage interest: −$6,666
• − Property taxes: −$2,274
• − Insurance: −$595
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − HOA: −$9,276
• − Depreciation: −$3,462
• Taxable loss: −$3,029
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $-809/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

+101.6% since first listed

7 events — show timeline

• 2026-06-01 Pending — MARMLS
• 2026-06-01 Listed $125,000 MARMLS
• 2018-07-16 Sold (Public Records) $110,000 Public Records
• 2018-07-06 Sold (MLS) $110,000 Beaches MLS
• 2018-05-22 Contingent — Beaches MLS
• 2018-03-13 Listed $110,000 Beaches MLS
• 1980-04-01 Sold (Public Records) $62,000 Public Records

Property tax history

+13.7%/yr

Latest (2025): $2,274 · +3.0% YoY. Source: county tax records.