5681 SW 2nd Ct #204 · Margate, FL 33068

$75,000

1 bd · 1.0 ba · 680 sqft · Condo public records · 288 Days on market

Built 1974 $412/mo HOA · 26% of rent

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Why this score? — see what drove the B- 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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced for a quick sale. Lovely 2nd-floor updated condo, which comes fully furnished—corner apartment overlooking a manicured common area—light and bright and ready to move in. The condo development has a community room with card tables, billiards, and exercise equipment. Within walking distance is a large community pool and tennis courts.

Key facts

• Tennis courts
• Large community pool
• Fully furnished

Tags

• 2ND-FLOOR UPDATED CONDO
• FULLY FURNISHED
• CORNER APARTMENT
• MANICURED COMMON AREA
• LARGE COMMUNITY POOL
• TENNIS COURTS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association with monthly fee; Association amenities include: billiard room, clubhouse, fitness center, game room, jogging path, laundry, pool, shuffleboard court, tennis courts, and community room; HOA fee covers cable TV, electricity, maintenance of grounds, sewer, trash, water, and common areas; Senior community

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space
• Security: Gated community with guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Sewer available; Water available
• Home design: Condominium; Multi/split levels (2 stories); Entry-level living area; Faces west
• Construction: Stucco and CBS construction; Composition/shingle roof
• Exterior features: Screened patio; Patio; Sidewalks; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Ceramic tile; Furnished
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central individual heating; Electric cooling; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Sliding windows
• Laundry & utility: Laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Liberty Elementary School (math 29% / reading 40%, grade F, #1,709 of 2,144 statewide, top 81%, 732 students, 73% 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 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 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 (-0.7%/yr); 298 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 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 288 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask is 4588% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 26% 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 288 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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: 2.09% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 4.0

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: -2.3%
• Equity multiple: 0.92×
• Total profit: $-1,704
• Equity at exit: $11,183

10-year hold

• IRR: 0.9%
• Equity multiple: 1.05×
• Total profit: $1,040
• Equity at exit: $6,485

Cash invested: $21,000 (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 33068

• Rents YoY: -0.7%
• Active inventory: 298
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,566 high
• Mortgage (P&I): −$393
• Tax from tax record: −$170 /mo · $2,039/yr
• Insurance: −$31
• HOA: −$412
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $231

Break-even live

Break-even rent $1,274

Max offer price $75,000

Occupancy floor 80%

Sensitivity live

Price	-10% $274	-5% $252	+0% $231	+5% $210	+10% $189
Rent	-10% $107	-5% $169	+0% $231	+5% $293	+10% $355
Rate	-1.0pp $269	-0.5pp $250	base $231	+0.5pp $212	+1.0pp $192

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5641 SW 2nd Ct #212 Margate, FL	1.0	1.0	680	$1,200	$1.76	25d	1	0.06mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	25d	1	0.33mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	22d	4	0.62mi
6000 NW 7th St Margate, FL	—	1.0	500	$1,395	$2.79	8d	1	0.67mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	15d	1	0.72mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	8d	1	0.88mi
5501 SW 11th St Margate, FL	1.0–2.0	1.0	719	$1,550	$2.16	21d	4	0.96mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	25d	1	1.02mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$1,897	$2.20	2d	9	1.04mi
5600 SW 12th St North Lauderdale, FL	1.0–3.0	1.0–2.0	892	$1,750	$1.96	19d	3	1.08mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	8d	2	1.15mi
1251 W River Dr Unit 3 Margate, FL	1.0	1.0	500	$1,500	$3.00	14d	1	1.15mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	22d	1	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	20d	1	1.18mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	25d	2	1.21mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	4d	1	1.26mi
508 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	2d	1	1.27mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	25d	1	1.40mi
303 Gardens Dr #206 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	18d	1	1.40mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	8d	1	1.41mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	14d	1	1.41mi
107 Gardens Dr #205 Pompano Beach, FL	1.0	1.0	680	$1,600	$2.35	2d	1	1.44mi

HOA detail condo

• Monthly dues: $412 · $4,944/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $75,000 Active 288 DOM
2. 2026-06-17
   days on market $75,000 Active 287 DOM
3. 2026-06-16
   days on market $75,000 Active 286 DOM
4. 2026-06-15
   days on market $75,000 Active 285 DOM
5. 2026-06-13
   days on market $75,000 Active 283 DOM
6. 2026-06-09
   days on market $75,000 Active 279 DOM
7. 2026-06-07
   days on market $75,000 Active 277 DOM
8. 2026-06-04
   days on market $75,000 Active 274 DOM
9. 2026-06-03
   days on market $75,000 Active 273 DOM
10. 2026-06-02
    days on market $75,000 Active 272 DOM
11. 2026-06-01
    days on market $75,000 Active 271 DOM
12. 2026-05-31
    days on market $75,000 Active 270 DOM
13. 2026-05-19
    historical $1,600
14. 2026-03-31
    listed $1,600
15. 2026-03-14
    historical $2,500
16. 2026-03-04
    price $75,000
17. 2026-02-26
    price $80,000
18. 2026-01-01
    listed $2,500
19. 2025-12-21
    historical $2,500
20. 2025-12-18
    listed $2,500
21. 2025-12-11
    historical $2,500
22. 2025-12-09
    price $84,900
23. 2025-11-20
    listed $2,500
24. 2025-11-04
    price $89,900
25. 2025-09-03
    listed $94,900 Active
26. 2025-08-09
    historical $1,500
27. 2025-07-31
    listed $1,500
28. 2025-06-26
    historical $1,500
29. 2025-06-23
    historical
30. 2025-05-12
    price $99,000
31. 2025-03-18
    price $1,500
32. 2025-03-13
    listed $2,000
33. 2025-03-01
    price $104,900
34. 2025-02-24
    price $108,000
35. 2025-02-18
    price $109,000
36. 2025-01-22
    listed $112,000 Active
37. 2024-12-11
    historical
38. 2024-11-04
    price $105,000
39. 2024-09-27
    price $110,000
40. 2024-07-11
    price $120,000
41. 2024-07-05
    price $130,000
42. 2024-06-12
    listed $125,000 Active
43. 2022-01-06
    soldstatus $67,000
44. 2021-12-20
    soldstatus $67,000 Closed
45. 2021-11-09
    status Pending
46. 2021-10-06
    listed $64,999 Active
47. 2017-11-30
    soldstatus $53,000
48. 2004-08-24
    soldstatus $57,000
49. 2003-05-12
    soldstatus $27,500
50. 1974-05-01
    soldstatus $18,000

ⓘ 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: $2,039 · $170/mo
• Projected year-2 tax: $2,039 · $170/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 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: $18,798
• − Mortgage interest: −$4,201
• − Property taxes: −$2,039
• − Insurance: −$375
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − HOA: −$4,944
• − Depreciation: −$2,182
• Taxable income: $2,049
• Est. tax owed @ 24.0%: −$492
• After-tax cash flow: $2,281/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): 54,439
• Household income: $64,051
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 3073.0

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: Black 58% Hispanic / Latino 21% Two or more races 13% White 11% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 1% Dominican 3%
• Common ancestry: Hispanic 17% Estonian 1% Lithuanian 1%
• Foreign-born: 47% · Canada, Jamaica, Vietnam
• Languages at home: 59% English-only · Spanish 19% French/Haitian/Cajun 15% Other Indo-European 2%

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: ▼ -317.60%
• Current HPI: 426.2972
• Rent YoY: ▼ -0.74%
• 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

-91.1% since first listed

38 events — show timeline

• 2026-05-19 Rental Removed $1,600 RMLSFL
• 2026-03-31 Listed for Rent $1,600 RMLSFL
• 2026-03-14 Rental Removed $2,500 RMLSFL
• 2026-03-04 Price Changed $75,000 Beaches MLS
• 2026-02-26 Price Changed $80,000 Beaches MLS
• 2026-01-01 Listed for Rent $2,500 RMLSFL
• 2025-12-21 Rental Removed $2,500 RMLSFL
• 2025-12-18 Listed for Rent $2,500 RMLSFL
• 2025-12-11 Rental Removed $2,500 RMLSFL
• 2025-12-09 Price Changed $84,900 Beaches MLS
• 2025-11-20 Listed for Rent $2,500 RMLSFL
• 2025-11-04 Price Changed $89,900 Beaches MLS
• 2025-09-03 Listed $94,900 Beaches MLS
• 2025-08-09 Rental Removed $1,500 GFLMLS
• 2025-07-31 Listed for Rent $1,500 GFLMLS
• 2025-06-26 Rental Removed $1,500 GFLMLS
• 2025-06-23 Listing Removed — Beaches MLS
• 2025-05-12 Price Changed $99,000 Beaches MLS
• 2025-03-18 Price Changed $1,500 GFLMLS
• 2025-03-13 Listed for Rent $2,000 GFLMLS
• 2025-03-01 Price Changed $104,900 Beaches MLS
• 2025-02-24 Price Changed $108,000 Beaches MLS
• 2025-02-18 Price Changed $109,000 Beaches MLS
• 2025-01-22 Listed $112,000 Beaches MLS
• 2024-12-11 Listing Removed — MARMLS
• 2024-11-04 Price Changed $105,000 MARMLS
• 2024-09-27 Price Changed $110,000 MARMLS
• 2024-07-11 Price Changed $120,000 MARMLS
• 2024-07-05 Price Changed $130,000 MARMLS
• 2024-06-12 Listed $125,000 MARMLS
• 2022-01-06 Sold (Public Records) $67,000 Public Records
• 2021-12-20 Sold (MLS) $67,000 MARMLS
• 2021-11-09 Pending — MARMLS
• 2021-10-06 Listed $64,999 MARMLS
• 2017-11-30 Sold (Public Records) $53,000 Public Records
• 2004-08-24 Sold (Public Records) $57,000 Public Records
• 2003-05-12 Sold (Public Records) $27,500 Public Records
• 1974-05-01 Sold (Public Records) $18,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,039 · +8.3% YoY. Source: county tax records.