5621 SW 2nd Ct #201 · Margate, FL 33068

$109,000

2 bd · 2.0 ba · 870 sqft · Condo public records · 99 Days on market

Built 1974 $508/mo HOA · 26% 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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 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

Fully furnished 2/2 corner unit with a peaceful garden view. The unit features tile flooring throughout, refrigerator and range replaced last year, a new water heater, and an updated electric panel. The enclosed Florida room adds extra comfort and tranquility. 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

• Garden view
• Tennis courts
• Tile flooring

Tags

• GARDEN VIEW
• TILE FLOORING
• ENCLOSED FLORIDA ROOM
• POOL
• TENNIS COURTS
• SHUFFLEBOARD

Property features AI

Finance

• HOA & community: Monthly HOA fee (approximately $508) covering insurance, water, sewer, trash and reserve funds; Senior community

Exterior

• Parking: Guest parking
• Security: Key card entry
• Utilities: Water included in HOA; Sewer included in HOA; Trash included in HOA; Power available
• Home design: Condominium; Resale unit; 2-story building
• Construction: CBS construction
• Exterior features: Not waterfront; Clubhouse; Picnic area; Shuffleboard court; Pickleball court

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Key card entry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $99k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 $754 of loan paydown is wiped out by about $3k 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 99 days — a 9% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $73k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,190 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.80% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 4.6

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: -10.7%
• Equity multiple: 0.63×
• Total profit: $-11,358
• Equity at exit: $16,252

10-year hold

• IRR: -10.9%
• Equity multiple: 0.49×
• Total profit: $-15,433
• Equity at exit: $9,424

Cash invested: $30,520 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$572
• Tax from tax record: −$239 /mo · $2,867/yr
• Insurance: −$45
• HOA: −$508
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $183

Break-even live

Break-even rent $1,726

Max offer price $109,000

Occupancy floor 86%

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: $27,250
• Closing costs: $3,270
• 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	0.10mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	24d	1	0.25mi
142 NW 60th Ave Unit 6-2 Margate, FL	2.0	2.0	825	$1,850	$2.24	5d	1	0.25mi
5534 Lakewood Cir S Unit H Margate, FL	2.0	2.0	984	$2,400	$2.44	2d	1	0.34mi
613 S State Road 7 Unit 3G Margate, FL	2.0	2.0	960	$2,100	$2.19	5d	1	0.39mi
613 S State Road 7 Unit 3E Margate, FL	2.0	2.0	1005	$1,900	$1.89	24d	1	0.39mi
611 S State Road 7 Unit 3F Margate, FL	1.0	1.0	750	$1,500	$2.00	24d	1	0.39mi
611 S State Road 7 Unit 1B Margate, FL	2.0	2.0	960	$2,150	$2.24	24d	1	0.39mi
605 S State Road 7 Unit 1 Margate, FL	2.0	1.0	850	$1,790	$2.11	2d	1	0.42mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	24d	1	0.42mi
605 S State Road 7 Unit 1D Margate, FL	2.0	2.0	960	$2,000	$2.08	3d	1	0.42mi
601 S State Road 7 Unit 2H Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.44mi
601 S State Road 7 Unit 2C Margate, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.44mi
609 S State Road 7 Unit 1C Margate, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.46mi
607 S State Road 7 Unit 1G Margate, FL	2.0	2.0	940	$1,750	$1.86	14d	1	0.46mi
380 E Laurel Dr Unit 4D Margate, FL	2.0	2.0	1019	$2,150	$2.11	24d	1	0.55mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,900	$2.69	21d	4	0.57mi
4979 SW 4th St Margate, FL	3.0	2.0	1056	$3,350	$3.17	19d	1	0.59mi
6000 NW 7th St Margate, FL	2.0	1.0	885	$1,895	$2.14	1d	1	0.60mi
412 Lakeside Dr #223 Margate, FL	2.0	1.0	630	$1,800	$2.86	14d	1	0.67mi
6008 NW 10th St Unit 2 Margate, FL	1.0	1.0	624	$1,450	$2.32	7d	1	0.81mi
834 Banks Rd Coconut Creek, FL	2.0	1.5	1054	$2,300	$2.18	10d	1	0.88mi
4768 W Atlantic Blvd Margate, FL	1.0–3.0	1.0–2.0	982	$2,372	$2.41	1d	3	0.88mi
5800 Margate Blvd Unit 411-4 Margate, FL	1.0	1.0	728	$1,650	$2.27	24d	1	0.95mi
5800 Margate Blvd Unit 521-5 Margate, FL	1.0	1.0	800	$1,700	$2.12	24d	1	0.95mi
5750 Lakeside Dr Margate, FL	1.0–3.0	1.0–2.0	862	$2,446	$2.84	1d	9	0.97mi
1141 W River Dr Margate, FL	2.0	2.0	1100	$1,800	$1.64	21d	1	1.00mi
568 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	24d	1	1.01mi
5501 SW 11th St Margate, FL	1.0–2.0	1.0	719	$2,050	$2.85	20d	4	1.03mi
551 Kathy Ct Margate, FL	2.0	1.0–2.0	851	$1,945	$2.29	3d	2	1.04mi
563 Kathy Ct Margate, FL	2.0	2.0	875	$2,035	$2.33	24d	1	1.04mi
6891 SW 7th St Margate, FL	2.0	1.0	827	$1,995	$2.41	21d	1	1.06mi
631 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	17d	1	1.07mi
6897 SW 7th St Margate, FL	2.0	1.0	827	$1,895	$2.29	16d	1	1.07mi
631 Lyons Rd Coconut Creek, FL	1.0	1.0	620	$1,845	$2.98	7d	2	1.11mi
631 Lyons Rd #12205 Coconut Creek, FL	1.0	1.0	620	$1,950	$3.15	21d	1	1.11mi
641 Lyons Rd #11203 Coconut Creek, FL	1.0	1.0	730	$1,750	$2.40	24d	1	1.13mi
701 Lyons Rd #13206 Coconut Creek, FL	1.0	1.0	620	$1,750	$2.82	19d	1	1.14mi
5600 SW 12th St North Lauderdale, FL	1.0–3.0	1.0–2.0	892	$2,272	$2.55	18d	3	1.15mi
1200 SW 52nd Ave North Lauderdale, FL	3.0	2.0	1027	$2,100	$2.04	24d	1	1.15mi

HOA detail condo

• Monthly dues: $508 · $6,096/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $109,000 Active 99 DOM
2. 2026-06-17
   days on market $109,000 Active 98 DOM
3. 2026-06-16
   days on market $109,000 Active 97 DOM
4. 2026-06-15
   days on market $109,000 Active 96 DOM
5. 2026-06-13
   days on market $109,000 Active 94 DOM
6. 2026-06-09
   days on market $109,000 Active 90 DOM
7. 2026-06-07
   days on market $109,000 Active 88 DOM
8. 2026-06-04
   days on market $109,000 Active 85 DOM
9. 2026-06-03
   days on market $109,000 Active 84 DOM
10. 2026-06-02
    days on market $109,000 Active 83 DOM
11. 2026-06-01
    days on market $109,000 Active 82 DOM
12. 2026-05-31
    days on market $109,000 Active 81 DOM
13. 2026-05-05
    price $109,000
14. 2026-02-13
    listed $129,000 Active
15. 2021-02-01
    soldstatus $73,000
16. 1974-07-01
    soldstatus $22,500

ⓘ 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 4 d/yr ≥106°F today · 14 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: $23,493
• − Mortgage interest: −$6,106
• − Property taxes: −$2,867
• − Insurance: −$545
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − HOA: −$6,096
• − Depreciation: −$3,171
• Taxable income: $950
• Est. tax owed @ 24.0%: −$228
• After-tax cash flow: $1,965/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

+384.4% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $109,000 Beaches MLS
• 2026-02-13 Listed $129,000 Beaches MLS
• 2021-02-01 Sold (Public Records) $73,000 Public Records
• 1974-07-01 Sold (Public Records) $22,500 Public Records

Property tax history

+5.0%/yr

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