351 Markham P #351 · Deerfield Beach, FL 33442

$124,000

2 bd · 1.5 ba · 820 sqft · Condo · 99 Days on market

Built 1974 $694/mo HOA · 38% of rent

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Why this score? — see what drove the D 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).

• 1% rule +9.8/10.0
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HIGHLY DESIRABLE, LIGHT , 2nd Floor 2 Bedroom, 1.5 Baths with CENTRAL AC RENTABLE after 1st year of ownership. Fully furnished. Tiled throughout entire place. Come see what this condo has to offer. It is ready for you to make it your Own. The main Clubhouse has Indoor & Outdoor Pool, Restaurant, 1600 Seat Theater, Clubs, Classes, Billiards, Tennis, Pickleball, Volleyball, Ping Pong, Bocce Board, ShuffleBoard, Fitness Center, Hiking Trails, Putting Green, Bike Trails & more. Close to Beaches, Entertainment, Dining, Shopping. Association claims 55+ community.

Key facts

• Central ac
• Fitness center
• Bike trails

Tags

• CENTRAL AC
• INDOOR & OUTDOOR POOL
• FITNESS CENTER
• HIKING TRAILS
• BIKE TRAILS

Property features AI

Finance

• Other: Resale condition; Located in a senior community
• Financial info: Monthly HOA fee covers water, sewer and trash
• HOA & community: Has association; Monthly HOA fee; Amenity package includes fitness center, pool, sauna, shuffleboard court, and cafe/restaurant

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security guard
• Utilities: Water included in association fees; Sewer included in association fees; Trash included in association fees
• Home design: Condominium; 2 stories; Second-floor entry
• Construction: Block/CBS construction
• Exterior features: Second-floor entry; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Security guard on site
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (11.7% below list).
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $109k (11.7% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 4.2% in Deerfield Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 41% 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 $857 of loan paydown is wiped out by about $4k 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 99 days — a 9% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 7216% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,442 (11.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.48% ✓
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.85
• GRM: 5.6

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: -28.1%
• Equity multiple: 0.10×
• Total profit: $-31,253
• Equity at exit: $18,489

10-year hold

• IRR: -68.8%
• Equity multiple: -0.55×
• Total profit: $-53,779
• Equity at exit: $10,721

Cash invested: $34,720 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,836 high
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$694
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-101

Break-even live

Break-even rent $1,963

Max offer price $109,442

Occupancy floor —

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
358 Markham Cres Unit 358 Deerfield Beach, FL	1.0	1.5	700	$1,500	$2.14	24d	1	0.04mi
308 Markham N Deerfield Beach, FL	1.0	1.5	700	$1,200	$1.71	24d	1	0.06mi
316 Markham Cres Deerfield Beach, FL	2.0	1.5	820	$1,800	$2.20	24d	1	0.06mi
436 Markham S #436 Deerfield Beach, FL	1.0	1.0	585	$1,400	$2.39	24d	1	0.07mi
111 Oakridge I #111 Deerfield Beach, FL	1.0	1.5	706	$1,595	$2.26	24d	1	0.17mi
124 Oakridge I #124 Deerfield Beach, FL	2.0	1.5	820	$1,700	$2.07	5d	1	0.18mi
306 Newport T #306 Deerfield Beach, FL	1.0	1.0	585	$1,350	$2.31	24d	1	0.21mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	5d	1	0.27mi
111 Tilford F #111 Deerfield Beach, FL	1.0	1.0	585	$1,500	$2.56	20d	1	0.27mi
125 Newport I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	24d	1	0.28mi
295 Newport Dr Unit 295 Deerfield Beach, FL	1.0	1.0	595	$1,450	$2.44	24d	1	0.30mi
193 Newport Ct #193 Deerfield Beach, FL	2.0	1.5	820	$2,200	$2.68	24d	1	0.31mi
27 Newport B Deerfield Beach, FL	1.0	1.5	700	$1,550	$2.21	22d	1	0.31mi
25 Newport Ct Unit 25 Deerfield Beach, FL	1.0	1.0	700	$1,549	$2.21	24d	1	0.31mi
226 Newport O Deerfield Beach, FL	1.0	1.5	700	$1,700	$2.43	24d	1	0.32mi
226 Newport O Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	3d	1	0.32mi
3042 Harwood E Unit 3042 Deerfield Beach, FL	2.0	2.0	860	$3,000	$3.49	24d	1	0.32mi
184 Tilford I Unit I Deerfield Beach, FL	2.0	1.5	820	$2,000	$2.44	24d	1	0.34mi
181 Tilford I Unit I Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	24d	1	0.34mi
181 Newport Ct #181 Deerfield Beach, FL	1.0	1.5	700	$1,650	$2.36	24d	1	0.35mi
170 Newport K Deerfield Beach, FL	1.0	1.0	585	$1,430	$2.44	24d	1	0.35mi
188 Prescott E Unit 188 Deerfield Beach, FL	1.0	1.5	700	$1,800	$2.57	24d	1	0.35mi
20 Prescott E Unit 20 Deerfield Beach, FL	1.0	1.5	700	$1,600	$2.29	24d	1	0.36mi
272 Tilford M Unit M Deerfield Beach, FL	2.0	1.5	820	$1,900	$2.32	24d	1	0.45mi
260 Prescott N Unit 260 Deerfield Beach, FL	1.0	1.5	700	$1,500	$2.14	24d	1	0.58mi
361 Tilford Q Unit Q Deerfield Beach, FL	2.0	1.5	820	$1,800	$2.20	24d	1	0.59mi
137 Farnham F #137 Deerfield Beach, FL	1.0	1.5	700	$2,500	$3.57	24d	1	0.64mi
144 Farnham F Unit F Deerfield Beach, FL	2.0	1.5	828	$2,500	$3.02	24d	1	0.64mi
137 Farnham F Deerfield Beach, FL	1.0	1.5	708	$2,000	$2.82	24d	1	0.64mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	11d	1	0.66mi
178 Durham E Unit 178 Deerfield Beach, FL	1.0	1.0	593	$1,350	$2.28	3d	1	0.66mi
6 Ventnor a Deerfield Beach, FL	1.0	1.0	600	$1,429	$2.38	24d	1	0.67mi
384 Durham Cir Unit 384 Deerfield Beach, FL	1.0	1.0	593	$1,400	$2.36	24d	1	0.68mi
283 Durham Cir Unit 283 Deerfield Beach, FL	2.0	2.0	820	$3,300	$4.02	24d	1	0.68mi
3016 Cambridge A Unit A Deerfield Beach, FL	1.0	1.5	700	$1,350	$1.93	24d	1	0.71mi
1272 S Military Trl #313 Deerfield Beach, FL	2.0	2.0	900	$2,390	$2.66	22d	1	0.72mi
333 Farnham P Unit P Deerfield Beach, FL	2.0	1.5	828	$1,800	$2.17	20d	1	0.73mi
329 Farnham P #329 Deerfield Beach, FL	1.0	1.5	700	$1,450	$2.07	24d	1	0.73mi
2355 SW 15th St Deerfield Beach, FL	2.0	2.0	1100	$2,098	$1.91	24d	2	0.75mi
1266 S Military Trl Deerfield Beach, FL	1.0–2.0	1.0–2.0	1050	$2,550	$2.43	22d	2	0.75mi

HOA detail condo

• Monthly dues: $694 · $8,328/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $124,000 Active 99 DOM
2. 2026-06-17
   days on market $124,000 Active 98 DOM
3. 2026-06-16
   days on market $124,000 Active 97 DOM
4. 2026-06-15
   days on market $124,000 Active 96 DOM
5. 2026-06-13
   days on market $124,000 Active 94 DOM
6. 2026-06-09
   days on market $124,000 Active 90 DOM
7. 2026-06-07
   days on market $124,000 Active 88 DOM
8. 2026-06-04
   days on market $124,000 Active 85 DOM
9. 2026-06-03
   days on market $124,000 Active 84 DOM
10. 2026-06-02
    days on market $124,000 Active 83 DOM
11. 2026-06-01
    days on market $124,000 Active 82 DOM
12. 2026-05-31
    days on market $124,000 Active 81 DOM
13. 2026-04-18
    listed $1,695
14. 2026-04-17
    price $124,000
15. 2026-02-13
    listed $129,000 Active

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

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 ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,030
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − HOA: −$8,328
• − Depreciation: −$3,607
• Taxable loss: −$2,856
• Est. tax savings @ 24.0%: +$685
• After-tax cash flow: $-522/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

-98.7% since first listed

3 events — show timeline

• 2026-04-18 Listed for Rent $1,695 RMLSFL
• 2026-04-17 Price Changed $124,000 Beaches MLS
• 2026-02-13 Listed $129,000 Beaches MLS