None

Margate, FL 33063

$100,000C-

1 bd · 1.5 ba · 728 sqft · Built 1974 · Townhouse · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,520/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$614
• Vac / Maint / Mgmt: −$319
• Net cashflow: $-104/mo
• Annual: $-1,254/yr
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• 1% rule: 1.52%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.5-bath townhouse listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $85k (15.1% below list).
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 196 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (15.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Margate Elementary School (math 35% / reading 43%, grade F, #1,560 of 2,144 statewide, top 73%, 1,023 students, 68% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Coral Springs High School (math 16% / reading 38%, grade F, #478 of 667 statewide, top 73%, 2,320 students, 59% FRL).
• Watch-outs: HOA is 40% of rent.
• Market conditions: Rents rising (+1.9%/yr); 840 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 77d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 1→2/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 196 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.