6501 Winfield Blvd Unit A-50

Margate, FL 33063

$128,900D

1 bd · 1.0 ba · 720 sqft · Built 1972 · Condo · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,563/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$202
• HOA: −$391
• Vac / Maint / Mgmt: −$328
• Net cashflow: $-34/mo
• Annual: $-413/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• 1% rule: 1.21%
• Cash to close: $36,092

Investor read

• This is a 1-bed/1.0-bath condo listed at $129k.
• At list price, monthly cash flow is $-34 ($-413/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (4.7% below list).
• Meets the 1% rule at list price ($2k rent vs $129k).
• It's been on market 57 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (4.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $891 of loan paydown is wiped out by about $4k 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: Alphabet Land-Margate (8 students, 0% FRL); Margate Middle School (math 25% / reading 34%, grade F, #469 of 571 statewide, top 84%, 1,094 students, 77% FRL); Coral Springs High School (math 16% / reading 38%, grade F, #478 of 667 statewide, top 73%, 2,320 students, 59% FRL).
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-19 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 25% of rent.
• Market conditions: Rents rising (+1.9%/yr); 560 active listings in the ZIP; 40 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).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask is 8820% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $16k; list at $129k implies a 706% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% 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.

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 57 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.