477 Durham P #477 · Deerfield Beach, FL 33442

$114,900

2 bd · 1.5 ba · 820 sqft · Condo · 94 Days on market

Built 1975 $652/mo HOA · 33% of rent ↓ 4% since listing

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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 +19.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bright CORNER unit priced to sell! This IMMACULATE 2 bedrm, 1.5 bath condo is filled w/ natural light & offered furnished AS-AS. Features incl an updated kit w/ ss appl, updated electrical panel & tile flrs laid on diagonal thru-out & ceiling fans in every rm. Both bathrms are updated, incl a primary bath w/ tub/shower & w/ glass shower doors. Enjoy the encl patio w/ storage closet overlooking a peaceful garden view. Clean, move-in-ready opportunity you don’t want to miss! Enjoy this Active Community w/ 24 hr sec, free busses, pools, tennis, putting green, pickleball & cafe & State-of-the-Art Clubhouse w/ amenities galore incl gym, sauna, movies, the

Key facts

• Tile floors
• Storage closet
• Corner unit

Tags

• CORNER UNIT
• UPDATED KITCHEN
• UPDATED ELECTRICAL PANEL
• TILE FLOORS
• ENCLOSED PATIO
• STORAGE CLOSET

Property features AI

Finance

• HOA & community: Has association; Monthly HOA covers maintenance (grounds and structure), sewer, trash, water, roof repairs, pool service; Association amenities include pool, spa/hot tub, sauna, clubhouse, community room, billiard room, putting green, shuffleboard, pickleball courts, jogging path, parking, security, maintenance

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security guard; Security patrol; Security fence; Smoke detectors
• Utilities: Cable available
• Home design: Condominium; 2-story building; Second-floor entry; North-facing
• Construction: Block/CBS construction
• Exterior features: Patio; Fenced

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Furnished; Blinds

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.2% in Deerfield 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 75/100 on livability (#250 in FL, #3,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D-, employment D-.
• 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: Quiet Waters Elementary School (math 40% / reading 48%, grade F, #1,330 of 2,144 statewide, top 63%, 1,128 students, 62% FRL); Lyons Creek Middle School (math 49% / reading 53%, grade C, #237 of 571 statewide, top 43%, 1,757 students, 60% FRL); Deerfield Beach High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 2,251 students, 69% FRL).
• Market conditions: Rents flat; 586 active listings in the ZIP; 40 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 45% of the median local income ($53k/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 $794 of loan paydown is wiped out by about $3k 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 94 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $104,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.73% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.57%
• DSCR: 1.20
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.50×
• Total profit: $-16,022
• Equity at exit: $17,132

10-year hold

• IRR: -17.8%
• Equity multiple: 0.26×
• Total profit: $-23,964
• Equity at exit: $9,934

Cash invested: $32,172 (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 33442

• Rents YoY: 0.1%
• Active inventory: 586
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,985 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$652
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $122

Break-even live

Break-even rent $1,830

Max offer price $114,900

Occupancy floor 89%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
384 Durham Cir Unit 384 Deerfield Beach, FL	1.0	1.0	593	$1,400	$2.36	24d	1	0.09mi
283 Durham Cir Unit 283 Deerfield Beach, FL	2.0	2.0	820	$3,300	$4.02	24d	1	0.13mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	3d	1	0.19mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	11d	1	0.19mi
102 Westbury E #102 Deerfield Beach, FL	1.0	1.0	585	$1,900	$3.25	8d	1	0.24mi
98 Westbury E #98 Deerfield Beach, FL	1.0	1.0	585	$1,600	$2.74	24d	1	0.24mi
125 Westbury E Deerfield Beach, FL	1.0	1.0	585	$1,600	$2.74	24d	1	0.24mi
2400 Deer Creek Country Club Blvd Unit 608-1 Deerfield Beach, FL	2.0	2.0	1050	$2,200	$2.10	5d	1	0.30mi
2400 Deer Creek Country Club Blvd Deerfield Beach, FL	2.0	2.0	1050	$2,300	$2.19	24d	1	0.30mi
127 Westbury Cir Deerfield Beach, FL	1.0	1.0	585	$1,425	$2.44	24d	1	0.30mi
2430 Deer Creek Country Club Blvd Unit 407-2 Deerfield Beach, FL	2.0	2.0	1050	$2,050	$1.95	5d	1	0.31mi
2420 Deer Creek Country Club Blvd Unit 302D Deerfield Beach, FL	2.0	2.0	1050	$1,850	$1.76	24d	1	0.33mi
2460 Deer Creek Country Club Blvd Unit 205A Deerfield Beach, FL	2.0	1.5	1050	$1,800	$1.71	24d	1	0.33mi
149 Westbury I #149 Deerfield Beach, FL	1.0	1.0	585	$1,700	$2.91	24d	1	0.34mi
6 Ventnor a Deerfield Beach, FL	1.0	1.0	600	$1,429	$2.38	24d	1	0.35mi
3016 Cambridge A Unit A Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	24d	1	0.45mi
105 Deer Creek Rd Deerfield Beach, FL	2.0	2.0	1120	$2,700	$2.41	24d	1	0.48mi
105 Deer Creek Rd #202 Deerfield Beach, FL	2.0	2.0	1120	$3,000	$2.68	24d	1	0.49mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	21d	1	0.55mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	5d	1	0.55mi
316 Markham Cres Deerfield Beach, FL	2.0	1.5	820	$1,800	$2.20	24d	1	0.59mi
308 Markham N Deerfield Beach, FL	1.0	1.5	700	$1,200	$1.71	24d	1	0.59mi
358 Markham Cres Unit 358 Deerfield Beach, FL	1.0	1.5	700	$1,500	$2.14	24d	1	0.65mi
184 Tilford I Unit I Deerfield Beach, FL	2.0	1.5	820	$2,000	$2.44	24d	1	0.66mi
181 Tilford I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	24d	1	0.66mi
436 Markham S #436 Deerfield Beach, FL	1.0	1.0	585	$1,400	$2.39	24d	1	0.69mi
272 Tilford M Unit M Deerfield Beach, FL	2.0	1.5	820	$1,900	$2.32	24d	1	0.71mi
27 Newport B Deerfield Beach, FL	1.0	1.5	700	$1,550	$2.21	22d	1	0.76mi
25 Newport Ct Unit 25 Deerfield Beach, FL	1.0	1.0	700	$1,549	$2.21	24d	1	0.76mi
111 Oakridge I #111 Deerfield Beach, FL	1.0	1.5	706	$1,595	$2.26	24d	1	0.82mi
20 Prescott E Unit 20 Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	24d	1	0.82mi
188 Prescott E Unit 188 Deerfield Beach, FL	1.0	1.5	700	$1,800	$2.57	24d	1	0.82mi
124 Oakridge I #124 Deerfield Beach, FL	2.0	1.5	820	$1,700	$2.07	5d	1	0.82mi
361 Tilford Q Unit Q Deerfield Beach, FL	2.0	1.5	820	$1,800	$2.20	24d	1	0.84mi
3042 Harwood E Unit 3042 Deerfield Beach, FL	2.0	2.0	860	$3,000	$3.49	24d	1	0.85mi
306 Newport T #306 Deerfield Beach, FL	1.0	1.0	585	$1,350	$2.31	24d	1	0.85mi
125 Newport I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	24d	1	0.85mi
51 Tilford S Unit 51 Deerfield Beach, FL	2.0	1.5	820	$1,800	$2.20	24d	1	0.86mi
137 Farnham F Deerfield Beach, FL	1.0	1.5	708	$2,000	$2.82	24d	1	0.86mi
144 Farnham F Unit F Deerfield Beach, FL	2.0	1.5	828	$2,500	$3.02	24d	1	0.86mi

HOA detail condo

• Monthly dues: $652 · $7,824/yr
• Likely covers: electricpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-13
   days on market $114,900 Active 94 DOM
2. 2026-06-09
   days on market $114,900 Active 90 DOM
3. 2026-06-07
   days on market $114,900 Active 88 DOM
4. 2026-06-04
   days on market $114,900 Active 85 DOM
5. 2026-06-03
   days on market $114,900 Active 84 DOM
6. 2026-06-02
   days on market $114,900 Active 83 DOM
7. 2026-06-01
   days on market $114,900 Active 82 DOM
8. 2026-05-31
   days on market $114,900 Active 81 DOM
9. 2026-05-12
   price $114,900
10. 2025-12-20
    listed $119,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,825
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − HOA: −$7,824
• − Depreciation: −$3,343
• Taxable income: $112
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $1,442/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 — Deerfield Beach

• Score: 75/100
• State rank: #250
• US rank: #3970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield Beach, FL
• County: Broward County · 1,963,430 people
• City population: 61,449
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 31,296
• Household income: $53,254
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 2169.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 23% Two or more races 19% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 3%
• Common ancestry: Estonian 7% Romanian 4% Hispanic 3%
• Foreign-born: 34% · Canada, Jamaica, Dominican Republic
• Languages at home: 59% English-only · Spanish 20% Other Indo-European 13% French/Haitian/Cajun 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: ▼ -280.44%
• Current HPI: 323.0166
• Rent YoY: ▲ 0.10%
• 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

-4.2% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $114,900 Beaches MLS
• 2025-12-20 Listed $119,900 Beaches MLS