4602 Martinique Way Unit E1 · Coconut Creek, FL 33066

$69,999

1 bd · 1.0 ba · 741 sqft · Condo public records · 109 Days on market

Built 1977 $647/mo HOA · 38% of rent

---

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 +22.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to resort-style living in this beautifully maintained 55+ community. This ground floor condo boasts a beautiful golf view. Tons of potential to make this condo your own! Residents enjoy amenities including a clubhouse with several swimming pools, fitness center, walking/biking trails, theater, billiard room, wood shop and more! The HOA fee include a free shuttle service and cable TV. This community provides a full calendar of social activities designed to keep you active and connected. Located near shopping, dining, healthcare, and major roadways, this condo offers the perfect balance of comfort, convenience, and community. Come and see for yourself!

Key facts

• $647 HOA
• Community pool
• Built 1977

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Community amenities include elevator(s), fitness center, pool, community room, and courtesy bus; HOA fee paid monthly; HOA fee covers cable TV, insurance, pest control, security, trash, and common areas

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard
• Utilities: Cable available
• Home design: Condominium; Resale property; Faces east; 4-story building; Unit located on first floor (near elevator)
• Construction: Concrete construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% in Coconut Creek — 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 85/100 on livability (#30 in FL, #617 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: Coconut Creek Elementary School (math 31% / reading 40%, grade F, #1,684 of 2,144 statewide, top 79%, 475 students, 66% 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 72% FRL vs 51% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 331 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($57k/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 $484 of loan paydown is wiped out by about $2k 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 109 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $70k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,699 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 2.42% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 3.4

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: -12.9%
• Equity multiple: 0.56×
• Total profit: $-8,529
• Equity at exit: $10,437

10-year hold

• IRR: -24.2%
• Equity multiple: 0.22×
• Total profit: $-15,261
• Equity at exit: $6,052

Cash invested: $19,600 (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 33066

• Home prices YoY: -29.3%
• Rents YoY: -0.9%
• Active inventory: 331
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,694 high
• Mortgage (P&I): −$367
• Tax from tax record: −$180 /mo · $2,161/yr
• Insurance: −$29
• HOA: −$647
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $115

Break-even live

Break-even rent $1,549

Max offer price $69,999

Occupancy floor 88%

Sensitivity live

Price	-10% $154	-5% $134	+0% $115	+5% $95	+10% $75
Rent	-10% $-19	-5% $48	+0% $115	+5% $181	+10% $248
Rate	-1.0pp $150	-0.5pp $132	base $115	+0.5pp $96	+1.0pp $78

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4501 Martinique Way Unit C1 Coconut Creek, FL	1.0	1.0	495	$1,500	$3.03	25d	1	0.03mi
1102 Bahama Bnd Coconut Creek, FL	1.0–2.0	1.0–2.0	812	$1,750	$2.16	25d	2	0.30mi
1102 Bahama Bnd Coconut Creek, FL	1.0–2.0	1.0–2.0	812	$1,700	$2.09	13d	2	0.30mi
1102 Bahama Bnd Unit D2 Coconut Creek, FL	1.0	1.0	662	$1,750	$2.64	4d	1	0.30mi
2703 Nassau Bnd Unit D1 Coconut Creek, FL	1.0	1.0	662	$1,650	$2.49	25d	1	0.42mi
371 Sunshine Dr Unit H2 Coconut Creek, FL	1.0	1.0	600	$1,473	$2.46	25d	1	0.95mi
3505 W Atlantic Blvd Pompano Beach, FL	1.0–2.0	1.0–2.0	879	$1,850	$2.10	2d	15	1.06mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	5d	1	1.13mi
100 NW 33rd Ave Pompano Beach, FL	1.0–3.0	1.0–2.0	1078	$1,792	$1.66	25d	35	1.15mi
100 NW 33rd Ave Pompano Beach, FL	1.0–3.0	1.0–2.0	1078	$1,907	$1.77	2d	20	1.15mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	25d	2	1.15mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	25d	1	1.18mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	21d	1	1.18mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	23d	1	1.21mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	8d	2	1.21mi
2408 NW 8th St Pompano Beach, FL	2.0	1.0	728	$2,300	$3.16	25d	1	1.28mi
990 Powerline Rd Pompano Beach, FL	1.0–2.0	1.0–2.0	833	$1,888	$2.27	0d	15	1.45mi
2809 N Course Dr #205 Pompano Beach, FL	1.0	1.0	735	$1,700	$2.31	25d	1	1.50mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: cablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $69,999 Active 109 DOM
2. 2026-06-18
   days on market $69,999 Active 106 DOM
3. 2026-06-17
   days on market $69,999 Active 105 DOM
4. 2026-06-16
   days on market $69,999 Active 104 DOM
5. 2026-06-15
   days on market $69,999 Active 103 DOM
6. 2026-06-13
   days on market $69,999 Active 101 DOM
7. 2026-06-09
   days on market $69,999 Active 97 DOM
8. 2026-06-07
   pricedays on market $69,999 Active 95 DOM
9. 2026-06-04
   days on market $79,999 Active 92 DOM
10. 2026-06-03
    days on market $79,999 Active 91 DOM
11. 2026-06-02
    days on market $79,999 Active 90 DOM
12. 2026-06-01
    days on market $79,999 Active 89 DOM
13. 2026-05-31
    days on market $79,999 Active 88 DOM
14. 2026-03-04
    listed $79,999 Active
15. 2026-03-03
    historical $79,999
16. 1998-06-16
    soldstatus $42,000

ⓘ 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: $2,161 · $180/mo
• Projected year-2 tax: $2,161 · $180/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 6 d/yr ≥107°F today · 20 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: $20,323
• − Mortgage interest: −$3,921
• − Property taxes: −$2,161
• − Insurance: −$350
• − Repairs & maintenance: −$1,626
• − Management: −$1,626
• − HOA: −$7,764
• − Depreciation: −$2,036
• Taxable income: $839
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $1,174/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 — Coconut Creek

• Score: 85/100
• State rank: #30
• US rank: #617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coconut Creek, FL
• County: Broward County · 1,963,430 people
• City population: 50,557
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 16,719
• Household income: $57,051
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 433.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 23% Two or more races 20% Black 11% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 3%
• Common ancestry: Scotch-Irish 4% Romanian 4% Italian 2%
• Foreign-born: 33% · Canada, Jamaica, Vietnam
• Languages at home: 65% English-only · Spanish 19% Other Indo-European 7% French/Haitian/Cajun 3%

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: ▼ -121.75%
• Current HPI: 293.3769
• Rent YoY: ▼ -0.95%
• 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

+90.5% since first listed

3 events — show timeline

• 2026-03-04 Listed $79,999 Beaches MLS
• 2026-03-03 Coming Soon $79,999 Beaches MLS
• 1998-06-16 Sold (Public Records) $42,000 Public Records

Property tax history

+19.4%/yr

Latest (2025): $2,161 · +4.4% YoY. Source: county tax records.