5660 SW 3rd Pl #105 · Margate, FL 33068

$70,000

1 bd · 1.0 ba · 680 sqft · Condo public records · 3 Days on market

Built 1976 $527/mo HOA · 34% 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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• 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

Located in a 55+ community, this 1-bedroom, 1-bath condominium features an updated kitchen, renovated bathroom, large walk-in closet, and enclosed sunroom with garden views. The unit offers ample storage space and is ready for a new owner's personal updates and finishing touches. Community amenities include a clubhouse, swimming pool, pickleball courts, shuffleboard courts, and picnic area. Conveniently located near shopping, dining, medical facilities, and major roadways.

Key facts

• Ample storage space
• Renovated bathroom
• Enclosed sunroom

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOM
• LARGE WALK-IN CLOSET
• ENCLOSED SUNROOM
• GARDEN VIEWS
• AMPLE STORAGE SPACE

Property features AI

Finance

• HOA & community: Monthly HOA with water included; HOA amenities: Fitness center, Laundry, Picnic area, Pool, Shuffleboard court, Tennis courts, Library, Pickleball courts, Maintenance; Community is a senior community; Pets not allowed

Exterior

• Parking: Assigned parking plus guest parking (1 parking space total); No carport
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Condominium; 2 stories; Updated / remodeled; Faces east
• Construction: Block construction
• Exterior features: Not waterfront; Tile roof

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closet
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 9.0% 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; 26 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 $484 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $24k; list at $70k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 34% 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 $70,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.24% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• GRM: 3.7

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: -8.3%
• Equity multiple: 0.71×
• Total profit: $-5,668
• Equity at exit: $10,437

10-year hold

• IRR: -9.6%
• Equity multiple: 0.57×
• Total profit: $-8,392
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$367
• Tax from tax record: −$162 /mo · $1,940/yr
• Insurance: −$29
• HOA: −$527
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $155

Break-even live

Break-even rent $1,373

Max offer price $70,000

Occupancy floor 85%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 26 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	0.08mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.27mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	21d	4	0.67mi
6000 NW 7th St Margate, FL	—	1.0	500	$1,395	$2.79	7d	1	0.74mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	14d	1	0.78mi
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	0.95mi
5600 SW 12th St North Lauderdale, FL	1.0–3.0	1.0–2.0	892	$1,750	$1.96	18d	3	1.01mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	1.09mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$1,897	$2.20	1d	9	1.10mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	7d	2	1.20mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	21d	1	1.20mi
508 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	1d	1	1.21mi
1251 W River Dr Unit 3 Margate, FL	1.0	1.0	500	$1,500	$3.00	13d	1	1.22mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	1.22mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	19d	1	1.23mi
651 Lyons Rd Coconut Creek, FL	1.0	1.0	690	$1,715	$2.48	24d	2	1.26mi
851 Lyons Rd #22108 Coconut Creek, FL	1.0	1.0	620	$1,650	$2.66	3d	1	1.31mi
303 Gardens Dr #206 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	17d	1	1.34mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	13d	1	1.35mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	7d	1	1.35mi
107 Gardens Dr #205 Pompano Beach, FL	1.0	1.0	680	$1,600	$2.35	1d	1	1.39mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	24d	1	1.43mi
4581 W McNab Rd #20 Pompano Beach, FL	1.0	1.0	600	$1,640	$2.73	20d	1	1.47mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,595	$2.98	16d	2	1.48mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,600	$2.99	2d	3	1.48mi

HOA detail condo

• Monthly dues: $527 · $6,324/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-18
   days on market $70,000 Active 3 DOM
2. 2026-06-17
   days on market $70,000 Active 2 DOM
3. 2026-06-16
   remarks 477-char remark
4. 2026-06-16
   listed $70,000 Active 1 DOM

ⓘ 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: $1,940 · $162/mo
• Projected year-2 tax: $1,940 · $162/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 10/10 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: $18,837
• − Mortgage interest: −$3,921
• − Property taxes: −$1,940
• − Insurance: −$350
• − Repairs & maintenance: −$1,507
• − Management: −$1,507
• − HOA: −$6,324
• − Depreciation: −$2,036
• Taxable income: $1,251
• Est. tax owed @ 24.0%: −$300
• After-tax cash flow: $1,562/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

+343.0% since first listed

3 events — show timeline

• 2026-06-15 Listed $70,000 Beaches MLS
• 2002-06-11 Sold (Public Records) $24,000 Public Records
• 1976-11-01 Sold (Public Records) $15,800 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,940 · +8.3% YoY. Source: county tax records.