507 Gardens Dr #203 · Pompano Beach, FL 33069

$149,000

2 bd · 1.0 ba · 880 sqft · Condo public records · 17 Days on market

Built 1985 $381/mo HOA · 20% of rent

---

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 +21.2/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Appreciation +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Investor-friendly and pet-friendly community with immediate rental opportunities, allowing rentals up to two times per year. This home is ready for your personal touches and offers a great opportunity to update and make it your own. Conveniently located near Calvary Christian Academy, The POMP, Topgolf, shopping, dining, beaches, and all major highways. Whether you're looking for an investment property or a place to call home, this one offers excellent potential in a fantastic location.

Key facts

• $381 HOA
• Parking
• Community pool

Tags

• IMMEDIATE RENTAL OPPORTUNITIES

Property features AI

Finance

• Other: Pets allowed with number and size limits
• Financial info: Not a land-lease property
• HOA & community: Association: The Gardens Nortg; Monthly HOA fee of $381; HOA includes insurance, grounds maintenance, pest control, sewer, trash, common areas, reserve funds, and roof repairs; Community amenities: Fitness center, Park, Pool, Tennis courts, Parking

Exterior

• Parking: Guest parking available; 1 parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Other utilities
• Home design: Condominium; Two levels; Resale; Faces southwest
• Construction: Stucco construction; 2-story building
• Exterior features: Non-waterfront property; Other roof

Interior

• Kitchen: Dishwasher, Electric Range, Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Carpet; Tile; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher, Electric Range, Refrigerator; In-unit laundry; Smoke detectors
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.1% in Pompano Beach — 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 74/100 on livability (#284 in FL, #4,541 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: employment D+, 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: Cypress Elementary School (math 26% / reading 30%, grade F, #1,951 of 2,144 statewide, top 91%, 740 students, 80% FRL); Pompano Beach Middle School (math 29% / reading 40%, grade F, #421 of 571 statewide, top 74%, 1,040 students, 73% FRL); Blanche Ely High School (math 7% / reading 29%, grade F, #570 of 667 statewide, top 86%, 1,906 students, 75% FRL) — zoned schools average 76% FRL vs 51% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 48% district-wide (-21 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 (-0.3%/yr); 438 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 39% of the median local income ($60k/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 $1k 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 17 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $49k; list at $149k implies a 202% gain — meaningful room to come down on a strong offer.

Recommended offer $146,765 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.29% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 6.5

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: -10.8%
• Equity multiple: 0.62×
• Total profit: $-15,806
• Equity at exit: $22,216

10-year hold

• IRR: -7.7%
• Equity multiple: 0.59×
• Total profit: $-16,969
• Equity at exit: $12,883

Cash invested: $41,720 (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 33069

• Home prices YoY: -1.1%
• Rents YoY: -0.3%
• Active inventory: 438
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$781
• Tax from tax record: −$74 /mo · $890/yr
• Insurance: −$62
• HOA: −$381
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $216

Break-even live

Break-even rent $1,644

Max offer price $149,000

Occupancy floor 84%

Sensitivity live

Price	-10% $300	-5% $258	+0% $216	+5% $174	+10% $132
Rent	-10% $65	-5% $140	+0% $216	+5% $292	+10% $368
Rate	-1.0pp $291	-0.5pp $254	base $216	+0.5pp $177	+1.0pp $138

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	2d	1	0.05mi
503 Gardens Dr #202 Pompano Beach, FL	2.0	1.0	880	$1,900	$2.16	25d	1	0.05mi
512 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	830	$1,900	$2.29	8d	1	0.08mi
514 Gardens Dr #101 Pompano Beach, FL	2.0	2.0	830	$2,000	$2.41	25d	1	0.09mi
606 Gardens Dr Pompano Beach, FL	2.0	2.0	1090	$2,200	$2.02	5d	1	0.11mi
407 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.14mi
303 Gardens Dr #206 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	18d	1	0.14mi
304 Gardens Dr Pompano Beach, FL	2.0	2.0	900	$1,950	$2.17	25d	1	0.16mi
715 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1000	$2,150	$2.15	5d	1	0.18mi
715 Gardens Dr Pompano Beach, FL	2.0	2.0	1000	$2,150	$2.15	22d	1	0.18mi
717 Gardens Dr #201 Pompano Beach, FL	2.0	2.0	930	$2,100	$2.26	25d	1	0.18mi
115 Gardens Dr #202 Pompano Beach, FL	2.0	2.0	1090	$1,950	$1.79	25d	1	0.19mi
1253 SW 46th Ave #1608 Pompano Beach, FL	1.0	1.0	785	$1,699	$2.16	25d	1	0.22mi
1261 SW 46th Ave #2016 Pompano Beach, FL	1.0	1.0	785	$1,600	$2.04	13d	1	0.24mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	8d	1	0.24mi
109 Gardens Dr #202 Pompano Beach, FL	1.0	1.0	680	$1,800	$2.65	14d	1	0.24mi
110 Gardens Dr #103 Pompano Beach, FL	2.0	2.0	1080	$2,200	$2.04	4d	1	0.26mi
110 Gardens Dr #203 Pompano Beach, FL	2.0	2.0	1090	$2,000	$1.83	25d	1	0.26mi
1263 SW 46th Ave #2109 Pompano Beach, FL	2.0	1.0	903	$2,000	$2.21	15d	1	0.26mi
1269 SW 46th Ave #2408 Pompano Beach, FL	2.0	2.0	1073	$2,150	$2.00	22d	1	0.27mi
107 Gardens Dr #205 Pompano Beach, FL	1.0	1.0	680	$1,600	$2.35	2d	1	0.27mi
1245 SW 46th Ave #1204 Pompano Beach, FL	1.0	1.0	813	$1,675	$2.06	2d	1	0.28mi
1245 SW 46th Ave #1215 Pompano Beach, FL	1.0	1.0	813	$2,000	$2.46	25d	1	0.28mi
1267 SW 46th Ave #2315 Pompano Beach, FL	1.0	1.0	785	$1,490	$1.90	4d	1	0.29mi
1281 SW 46th Ave Pompano Beach, FL	1.0	1.0	813	$1,650	$2.03	25d	1	0.29mi
1281 SW 46th Ave #2514 Pompano Beach, FL	1.0	1.0	813	$1,650	$2.03	22d	1	0.29mi
1243 SW 46th Ave #1111 Pompano Beach, FL	1.0	1.0	813	$1,550	$1.91	3d	1	0.31mi
1243 SW 46th Ave #1111 Pompano Beach, FL	1.0	1.0	813	$1,550	$1.91	4d	1	0.31mi
1285 SW 46th Ave #2709 Pompano Beach, FL	1.0	1.0	785	$1,600	$2.04	25d	1	0.31mi
1227 SW 46th Ave #303 Pompano Beach, FL	1.0	1.0	785	$1,550	$1.97	25d	1	0.32mi
1241 SW 46th Ave #1006 Pompano Beach, FL	2.0	2.0	1073	$1,900	$1.77	25d	1	0.33mi
1231 SW 46th Ave #505 Pompano Beach, FL	1.0	1.0	813	$1,700	$2.09	8d	1	0.33mi
1239 SW 46th Ave #905 Pompano Beach, FL	1.0	1.0	785	$1,520	$1.94	8d	1	0.34mi
1239 SW 46th Ave #905 Pompano Beach, FL	1.0	1.0	785	$1,520	$1.94	15d	1	0.34mi
4581 W McNab Rd #20 Pompano Beach, FL	1.0	1.0	600	$1,640	$2.73	21d	1	0.35mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,600	$2.99	3d	3	0.35mi
4581 W McNab Rd Pompano Beach, FL	1.0	1.0	535	$1,595	$2.98	17d	2	0.35mi
4561 W McNab Rd #21 Pompano Beach, FL	2.0	1.0	800	$1,895	$2.37	25d	1	0.37mi
4541 W McNab Rd Pompano Beach, FL	2.0	2.0	980	$2,075	$2.12	25d	2	0.40mi
4521 W McNab Rd #30 Pompano Beach, FL	1.0	1.0	620	$1,700	$2.74	22d	1	0.42mi

HOA detail condo

• Monthly dues: $381 · $4,572/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $149,000 Active 17 DOM
2. 2026-06-17
   days on market $149,000 Active 16 DOM
3. 2026-06-16
   days on market $149,000 Active 15 DOM
4. 2026-06-15
   days on market $149,000 Active 14 DOM
5. 2026-06-13
   days on market $149,000 Active 12 DOM
6. 2026-06-09
   days on market $149,000 Active 8 DOM
7. 2026-06-08
   days on market $149,000 Active 7 DOM
8. 2026-06-07
   days on market $149,000 Active 6 DOM
9. 2026-06-04
   days on market $149,000 Active 3 DOM
10. 2026-06-03
    days on market $149,000 Active 2 DOM
11. 2026-06-02
    remarks 491-char remark
12. 2026-06-02
    listed $149,000 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: $890 · $74/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$346/yr (+$29/mo · 38.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,009
• − Mortgage interest: −$8,346
• − Property taxes: −$890
• − Insurance: −$745
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − HOA: −$4,572
• − Depreciation: −$4,335
• Taxable income: $439
• Est. tax owed @ 24.0%: −$105
• After-tax cash flow: $2,488/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 — Pompano Beach

• Score: 74/100
• State rank: #284
• US rank: #4541

Category grades

Amenities F Commute A+ Cost of living B+ Crime B Employment D+ Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pompano Beach, FL
• County: Broward County · 1,963,430 people
• City population: 155,861
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,145
• Household income: $59,683
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1670.0

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: Black 33% White 32% Hispanic / Latino 26% Two or more races 21% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 3% Dominican 2%
• Common ancestry: Hispanic 9% Estonian 2% Romanian 2%
• Foreign-born: 33% · Canada, Jamaica
• Languages at home: 61% English-only · Spanish 23% French/Haitian/Cajun 9% Other Indo-European 5%

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: ▼ -3.16%
• Current HPI: 297.1774
• Rent YoY: ▼ -0.29%
• 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

+201.6% since first listed

2 events — show timeline

• 2026-05-29 Listed $149,000 Beaches MLS
• 1986-04-01 Sold (Public Records) $49,400 Public Records

Property tax history

+5.5%/yr

Latest (2025): $890 · +4.2% YoY. Source: county tax records.