375 SW 56th Ave #116 · Margate, FL 33068

$129,000

2 bd · 2.0 ba · 870 sqft · Condo public records · 9 Days on market

Built 1974 $527/mo HOA · 27% 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 +15.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 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

Nicely furnished first-floor corner unit featuring walk-in closets and en-suite bathrooms in both bedrooms. The Florida room has newer windows and a door providing quick access to the clubhouse. Located in a well-maintained community offering amenities such as a pool, tennis courts, shuffleboard, a BBQ area, and washer/dryer usage included in the monthly fees. Conveniently close to shopping, restaurants, grocery stores, and transportation. The building has successfully completed its 50-year inspection.

Key facts

• Walk-in closets
• Florida room
• En-suite bathrooms

Tags

• FIRST-FLOOR CORNER UNIT
• WALK-IN CLOSETS
• EN-SUITE BATHROOMS
• FLORIDA ROOM
• NEWER WINDOWS
• QUICK ACCESS TO CLUBHOUSE

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: Homeowners association with monthly fee; HOA fee: $527/month; HOA includes maintenance of grounds, sewer, trash and water; Community has a pool, shuffleboard court and pickleball courts; Senior community

Exterior

• Parking: Guest parking
• Security: Entry phone/intercom
• Utilities:
• Home design: Condominium; 2 total stories; Resale property
• Construction: CBS construction
• Exterior features: Waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Furnished
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $50 ($600/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 6.8% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 37% of the median local income ($64k/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 $892 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $24k; list at $129k implies a 442% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.66%
• DSCR: 1.07
• GRM: 5.5

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: -19.1%
• Equity multiple: 0.36×
• Total profit: $-23,052
• Equity at exit: $19,234

10-year hold

• IRR: -28.4%
• Equity multiple: -0.01×
• Total profit: $-36,507
• Equity at exit: $11,154

Cash invested: $36,120 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,957 high
• Mortgage (P&I): −$676
• Tax from tax record: −$239 /mo · $2,867/yr
• Insurance: −$54
• HOA: −$527
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $50

Break-even live

Break-even rent $1,894

Max offer price $129,000

Occupancy floor 92%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	0.06mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	24d	1	0.30mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	5d	1	0.30mi
613 S State Road 7 Unit 3E Margate, FL	2.0	2.0	1005	$1,900	$1.89	24d	1	0.33mi
613 S State Road 7 Unit 3G Margate, FL	2.0	2.0	960	$2,100	$2.19	5d	1	0.33mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.33mi
611 S State Road 7 Unit 1B Margate, FL	2.0	2.0	960	$2,150	$2.24	24d	1	0.33mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	24d	1	0.36mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	3d	1	0.36mi
605 S State Road 7 Unit 1 Margate, FL	2.0	1.0	850	$1,790	$2.11	3d	1	0.36mi
601 S State Road 7 Unit 2C Margate, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.38mi
601 S State Road 7 Unit 2H Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.38mi
5534 Lakewood Cir S Unit H Margate, FL	2.0	2.0	984	$2,400	$2.44	3d	1	0.39mi
607 S State Road 7 Unit 1G Margate, FL	2.0	2.0	940	$1,750	$1.86	15d	1	0.40mi
609 S State Road 7 Unit 1C Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.40mi
4979 SW 4th St Margate, FL	3.0	2.0	1056	$3,350	$3.17	20d	1	0.56mi
380 E Laurel Dr Unit 4D Margate, FL	2.0	2.0	1019	$2,150	$2.11	24d	1	0.58mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	22d	4	0.62mi
6000 NW 7th St Margate, FL	2.0	1.0	885	$1,895	$2.14	2d	1	0.67mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	15d	1	0.72mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	7d	1	0.88mi
4768 W Atlantic Blvd Margate, FL	1.0–3.0	1.0–2.0	982	$2,372	$2.41	1d	3	0.90mi
834 Banks Rd Coconut Creek, FL	2.0	1.5	1054	$2,300	$2.18	11d	1	0.93mi
5501 SW 11th St Margate, FL	1.0–2.0	1.0	719	$2,050	$2.85	20d	4	0.96mi
568 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	24d	1	1.00mi
5800 Margate Blvd Unit 521-5 Margate, FL	1.0	1.0	800	$1,700	$2.12	24d	1	1.02mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	1.02mi
551 Kathy Ct Margate, FL	2.0	1.0–2.0	851	$1,945	$2.29	3d	2	1.02mi
563 Kathy Ct Margate, FL	2.0	2.0	875	$2,035	$2.33	24d	1	1.02mi
6891 SW 7th St Margate, FL	2.0	1.0	827	$1,995	$2.41	22d	1	1.03mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$2,446	$2.84	2d	9	1.04mi
6897 SW 7th St Margate, FL	2.0	1.0	827	$1,895	$2.29	17d	1	1.04mi
631 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	17d	1	1.04mi
1141 W River Dr Margate, FL	2.0	2.0	1100	$1,800	$1.64	22d	1	1.06mi
5600 SW 12th St North Lauderdale, FL	1.0–3.0	1.0–2.0	892	$2,272	$2.55	19d	3	1.08mi
1200 SW 52nd Ave North Lauderdale, FL	3.0	2.0	1027	$2,100	$2.04	24d	1	1.09mi
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	22d	1	1.15mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	1.18mi
1241 SW 46th Ave #1006 Pompano Beach, FL	2.0	2.0	1073	$1,900	$1.77	24d	1	1.18mi

HOA detail condo

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

Listing history 10 events

1. 2026-06-18
   days on market $129,000 Active 9 DOM
2. 2026-06-17
   days on market $129,000 Active 8 DOM
3. 2026-06-16
   days on market $129,000 Active 7 DOM
4. 2026-06-15
   days on market $129,000 Active 6 DOM
5. 2026-06-13
   days on market $129,000 Active 4 DOM
6. 2026-06-10
   pricedays on marketlisting id $129,000 Active 1 DOM
7. 2026-06-01
   days on market $139,000 Active 82 DOM
8. 2026-05-31
   days on market $139,000 Active 81 DOM
9. 2025-12-12
   listed $139,000 Active
10. 1974-11-01
    soldstatus $23,800

ⓘ 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: $2,867 · $239/mo
• Projected year-2 tax: $2,867 · $239/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 5 d/yr ≥106°F today · 19 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: $23,486
• − Mortgage interest: −$7,226
• − Property taxes: −$2,867
• − Insurance: −$645
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − HOA: −$6,324
• − Depreciation: −$3,753
• Taxable loss: −$1,086
• Est. tax savings @ 24.0%: +$261
• After-tax cash flow: $861/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

+484.0% since first listed

2 events — show timeline

• 2025-12-12 Listed $139,000 Beaches MLS
• 1974-11-01 Sold (Public Records) $23,800 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,867 · +9.8% YoY. Source: county tax records.