5640 SW 3rd Pl #212 · Margate, FL 33068

$115,000

1 bd · 1.0 ba · 680 sqft · Condo public records · 143 Days on market

Built 1977 $412/mo HOA · 26% of rent

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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 +20.4/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 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

Reduced! Spacious sunny 1Bed/1bath unit, fully remodeled - This turn key fully equipped condo has everything you need with modern new furniture and accessories. The kitchen was nicely redone with new cabinets, new appliances and lots of storage. The bathroom was also nicely redone. All tile floors, new electrical panel, recently painted, new AC 2022. Spacious bedroom with large walk-in closet and storage. Beautiful modern and luxury furniture. The screened patio offers a view to the garden and a storage closet. Very well maintained complex with heated pool, shuffleboard, bocce/petanque, Tennis and pickle ball courts, BBQ area, bike storage area, Club House with card and billiard rooms. Act

Key facts

• Screened patio
• Fully remodeled
• Lots of storage

Tags

• FULLY REMODELED
• NEW CABINETS
• NEW APPLIANCES
• LOTS OF STORAGE
• SCREENED PATIO
• VIEW TO THE GARDEN

Property features AI

Finance

• Financial info: Pets: No (restrictions apply / no pet restrictions noted)
• HOA & community: Monthly association fee; Association fee includes management, common areas, insurance, laundry, structure maintenance, parking, pest control, pool(s), recreation facilities, reserve fund, roof, sewer, trash and water; Community amenities include billiard room, bike storage, clubhouse, laundry room, library, barbecue/picnic area, pickleball, pool, shuffleboard court, tennis courts, and vehicle wash area; Senior community

Exterior

• Parking: Assigned parking (one space); Guest parking
• Security: Phone entry; Smoke detectors; Exterior lighting
• Utilities: Cable available
• Home design: 2-story building; Entry located on second level; Faces south; Updated/remodeled; Attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony; Barbecue area; Courtyard; Screened balcony/porch; Heated pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Blinds and sliding window treatments; Tub/shower; Walk-in closet(s); Living/dining room; Main living area on entry level; Second floor entry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Market conditions: Rents soft (-0.7%/yr); 298 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $795 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 143 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $115k implies a 576% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1977 — 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. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 6.1

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: -12.1%
• Equity multiple: 0.58×
• Total profit: $-13,514
• Equity at exit: $17,147

10-year hold

• IRR: -10.3%
• Equity multiple: 0.49×
• Total profit: $-16,507
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,578 high
• Mortgage (P&I): −$603
• Tax from tax record: −$34 /mo · $404/yr
• Insurance: −$48
• HOA: −$412
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $150

Break-even live

Break-even rent $1,388

Max offer price $115,000

Occupancy floor 86%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 28 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	24d	1	0.05mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.30mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	21d	4	0.71mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	14d	1	0.74mi
6000 NW 7th St Margate, FL	—	1.0	500	$1,395	$2.79	7d	1	0.75mi
5501 SW 11th St Margate, FL	1.0–2.0	1.0	719	$1,550	$2.16	20d	4	0.89mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	7d	1	0.96mi
5600 SW 12th St North Lauderdale, FL	1.0–3.0	1.0–2.0	892	$1,750	$1.96	18d	3	1.01mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$1,897	$2.20	1d	9	1.09mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	1.10mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	7d	2	1.15mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	21d	1	1.15mi
508 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	1d	1	1.18mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	1.18mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	19d	1	1.19mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	24d	2	1.21mi
1251 W River Dr Unit 3 Margate, FL	1.0	1.0	500	$1,500	$3.00	13d	1	1.24mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	3d	1	1.28mi
303 Gardens Dr #206 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	17d	1	1.31mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	7d	1	1.32mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	13d	1	1.32mi
107 Gardens Dr #205 Pompano Beach, FL	1.0	1.0	680	$1,600	$2.35	1d	1	1.35mi
4581 W McNab Rd #20 Pompano Beach, FL	1.0	1.0	600	$1,640	$2.73	20d	1	1.43mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,595	$2.98	16d	2	1.44mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,600	$2.99	2d	3	1.44mi
4521 W McNab Rd #30 Pompano Beach, FL	1.0	1.0	620	$1,700	$2.74	1d	1	1.47mi
4521 W McNab Rd #30 Pompano Beach, FL	1.0	1.0	620	$1,700	$2.74	21d	1	1.47mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	24d	1	1.48mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $115,000 Active 143 DOM
2. 2026-06-17
   days on market $115,000 Active 142 DOM
3. 2026-06-16
   days on market $115,000 Active 141 DOM
4. 2026-06-15
   days on market $115,000 Active 140 DOM
5. 2026-06-13
   days on market $115,000 Active 138 DOM
6. 2026-06-09
   days on market $115,000 Active 134 DOM
7. 2026-06-07
   days on market $115,000 Active 132 DOM
8. 2026-06-04
   days on market $115,000 Active 129 DOM
9. 2026-06-03
   days on market $115,000 Active 128 DOM
10. 2026-06-02
    days on market $115,000 Active 127 DOM
11. 2026-06-01
    days on market $115,000 Active 126 DOM
12. 2026-05-31
    days on market $115,000 Active 125 DOM
13. 2026-03-02
    price $115,000
14. 2026-01-21
    listed $118,000 Active
15. 1976-11-01
    soldstatus $17,000

ⓘ 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: $404 · $34/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$551/yr (+$46/mo · 136.5%)

ⓘ 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 · 26 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: $18,932
• − Mortgage interest: −$6,442
• − Property taxes: −$404
• − Insurance: −$575
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − HOA: −$4,944
• − Depreciation: −$3,345
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $1,750/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

+576.5% since first listed

3 events — show timeline

• 2026-03-02 Price Changed $115,000 MARMLS
• 2026-01-21 Listed $118,000 MARMLS
• 1976-11-01 Sold (Public Records) $17,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $404 · +5.4% YoY. Source: county tax records.