6570 Royal Palm Blvd Unit 210j

Margate, FL 33063

$85,000D-

1 bd · 2.0 ba · 800 sqft · Built 1978 · Condo · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,591/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$237
• HOA: −$691
• Vac / Maint / Mgmt: −$334
• Net cashflow: $-117/mo
• Annual: $-1,408/yr
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• 1% rule: 1.87%
• Cash to close: $23,800

Investor read

• This is a 1-bed/2.0-bath condo listed at $85k.
• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $64k (24.4% below list).
• Meets the 1% rule at list price ($2k rent vs $85k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $64k (24.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Watch-outs: property tax is 2.8% of price; HOA is 43% of rent.
• Market conditions: Rents rising (+1.9%/yr); 558 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 30% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.