601 NW 78th Ter #204 · Margate, FL 33063

$55,000

1 bd · 1.0 ba · 670 sqft · Condo public records · 118 Days on market

Built 1975 $355/mo HOA · 23% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and affordable 1 bedroom, 1 bathroom condo in the desirable 55+ community of Oriole Gardens Two. This bright second-floor unit offers tile flooring throughout, a screened balcony with relaxing garden views, and central A/C. Includes assigned parking space #10 and additional storage. Guest parking available. Enjoy community amenities such as clubhouse and pool. HOA is $1,065 quarterly. No pets. Association approval required (3-4 weeks). NO LEASE Perfect for full-time residence or seasonal living at an excellent value.

Key facts

• Clubhouse
• Community amenities
• Screened balcony

Tags

• SCREENED BALCONY
• GARDEN VIEWS
• ASSIGNED PARKING SPACE
• COMMUNITY AMENITIES
• CLUBHOUSE
• POOL

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Quarterly association fee; Association amenities include clubhouse and pool; Association fee covers amenities, common areas, structure maintenance, sewer, trash and water; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Fire alarm
• Utilities: Water included in association fee; Sewer included in association fee; Trash included in association fee; Power: Central; Cooling: Central air
• Home design: Attached property; 2 stories; Entry located on second floor
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony/porch; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Bedroom on main level; Second floor entry; Main living area entry level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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 rising (+1.9%/yr); 558 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $380 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $55k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 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. 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: 2.79% ✓
• Cap rate: 15.48%
• Cash-on-cash: 32.82%
• DSCR: 2.46
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.08×
• Total profit: $16,569
• Equity at exit: $8,201

10-year hold

• IRR: 33.2%
• Equity multiple: 3.83×
• Total profit: $43,587
• Equity at exit: $4,755

Cash invested: $15,400 (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 33063

• Home prices YoY: -18.1%
• Rents YoY: 1.9%
• Active inventory: 558
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$288
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$23
• HOA: −$355
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $421

Break-even live

Break-even rent $1,000

Max offer price $55,000

Occupancy floor 68%

Sensitivity live

Price	-10% $452	-5% $437	+0% $421	+5% $406	+10% $390
Rent	-10% $300	-5% $361	+0% $421	+5% $482	+10% $542
Rate	-1.0pp $449	-0.5pp $435	base $421	+0.5pp $407	+1.0pp $392

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7605 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,350	$2.01	25d	1	0.25mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	25d	1	0.30mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	18d	1	0.30mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	25d	1	0.44mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,349	$1.78	6d	2	0.50mi
7797 Golf Circle Dr Margate, FL	1.0–2.0	1.0–2.0	834	$1,450	$1.74	5d	2	0.61mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	757	$1,525	$2.01	21d	4	0.68mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	749	$1,575	$2.10	18d	2	0.68mi
9000 Ramblewood Dr Apt 605 Coral Springs, FL	1.0	1.0	743	$1,971	$2.65	4d	1	1.07mi
9000 Ramblewood Dr Apt 605 Coral Springs, FL	1.0	1.0	743	$2,208	$2.97	25d	1	1.07mi
7110 Southgate Blvd Tamarac, FL	1.0	1.0	550	$1,600	$2.91	25d	1	1.20mi
7124 Southgate Blvd #7124 Tamarac, FL	1.0	1.0	550	$1,600	$2.91	25d	1	1.20mi
7178 Southgate Blvd #7178 Tamarac, FL	1.0	1.0	550	$1,700	$3.09	25d	1	1.22mi
7220 Southgate Blvd #7220 Tamarac, FL	1.0	1.0	550	$1,700	$3.09	25d	1	1.22mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	23d	4	1.27mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	0d	4	1.27mi
6890 Royal Palm Blvd Unit 209H Margate, FL	1.0	1.5	720	$1,450	$2.01	25d	1	1.38mi
1251 W River Dr Unit 3 Margate, FL	1.0	1.0	500	$1,500	$3.00	15d	1	1.41mi
6750 Royal Palm Blvd Unit 209E Margate, FL	1.0	1.5	720	$1,000	$1.39	3d	1	1.42mi
6670 Royal Palm Blvd Unit 205K Margate, FL	1.0	1.5	720	$1,300	$1.81	4d	1	1.43mi
6670 Royal Palm Blvd Unit 206K Margate, FL	1.0	1.5	720	$1,450	$2.01	3d	1	1.43mi
6670 Royal Palm Blvd Unit 206K Margate, FL	1.0	1.5	720	$1,450	$2.01	25d	1	1.43mi
6700 Royal Palm Blvd Unit 210D Margate, FL	1.0	1.5	720	$1,450	$2.01	5d	1	1.46mi
6650 Royal Palm Blvd Unit 110C Margate, FL	1.0	1.0	540	$1,450	$2.69	8d	1	1.49mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	8d	1	1.50mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $55,000 Active 118 DOM
2. 2026-06-18
   days on market $55,000 Active 115 DOM
3. 2026-06-17
   days on market $55,000 Active 114 DOM
4. 2026-06-16
   days on market $55,000 Active 113 DOM
5. 2026-06-15
   days on market $55,000 Active 112 DOM
6. 2026-06-13
   days on market $55,000 Active 110 DOM
7. 2026-06-10
   price $55,000 Active 106 DOM
8. 2026-06-09
   days on market $59,500 Active 106 DOM
9. 2026-06-07
   days on market $59,500 Active 104 DOM
10. 2026-06-04
    days on market $59,500 Active 101 DOM
11. 2026-06-03
    days on market $59,500 Active 100 DOM
12. 2026-06-02
    days on market $59,500 Active 99 DOM
13. 2026-06-01
    days on market $59,500 Active 98 DOM
14. 2026-05-31
    days on market $59,500 Active 97 DOM
15. 2026-04-08
    price $59,500
16. 2026-02-23
    listed $63,500 Active
17. 1999-10-12
    soldstatus $23,500
18. 1996-03-25
    soldstatus $19,900
19. 1979-12-01
    soldstatus $29,000

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,486 · $124/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 7 d/yr ≥106°F today · 27 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: $18,400
• − Mortgage interest: −$3,081
• − Property taxes: −$1,486
• − Insurance: −$275
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − HOA: −$4,260
• − Depreciation: −$1,600
• Taxable income: $4,754
• Est. tax owed @ 24.0%: −$1,141
• After-tax cash flow: $3,913/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): 55,466
• Household income: $62,918
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 2290.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Hispanic / Latino 29% Black 28% Two or more races 18% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 3% Dominican 3%
• Common ancestry: Hispanic 6% Romanian 2% Estonian 2%
• Foreign-born: 36% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 24% French/Haitian/Cajun 7% Other Indo-European 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: ▼ -87.17%
• Current HPI: 393.9225
• Rent YoY: ▲ 1.94%
• 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

+105.2% since first listed

5 events — show timeline

• 2026-04-08 Price Changed $59,500 MARMLS
• 2026-02-23 Listed $63,500 MARMLS
• 1999-10-12 Sold (Public Records) $23,500 Public Records
• 1996-03-25 Sold (Public Records) $19,900 Public Records
• 1979-12-01 Sold (Public Records) $29,000 Public Records

Property tax history

+14.4%/yr

Latest (2025): $1,486 · +1.6% YoY. Source: county tax records.