109 NW 51st St · Deerfield Beach, FL 33064

$199,000

2 bd · 2.0 ba · 1,780 sqft · Manufactured public records · 108 Days on market

Built 1980 5,307 sqft lot $120/mo HOA · 4% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Impressive Corner-Lot Residence in Highland Meadows Estates East. Situated in a 55+ gated community, this 24' x 56' home features 2 bedrooms and 2 bathrooms and a Florida room. The roof was replaced on Nov 2025 along with new A/C ductwork. The home has 2 carports and 2 driveways. Qrtly fees are just $360. Large kitchen with a pantry and cooking island along with seating. Large open floor plan including a spacious living room, dining room and family room with plenty of windows, offering an abundance of natural light. In-unit washer and dryer. Several closets including two walk in closets. Land ownership comes with the property.

Key facts

• Two carports
• Florida room
• 55 gated community

Tags

• CORNER-LOT RESIDENCE
• 55 GATED COMMUNITY
• FLORIDA ROOM
• ROOF REPLACED
• NEW A/C DUCTWORK
• TWO CARPORTS

Property features AI

Finance

• HOA & community: Quarterly association fee; Association fee covers common area maintenance and recreation facilities; Community clubhouse, fitness center, pickleball, shuffleboard, pool

Exterior

• Parking: Attached carport; Driveway; 2 covered spaces (carport)
• Security: Security gate; Gated community
• Utilities: Public water; Public sewer; Electric service
• Home design: Mobile home (Prestige model); Shingle roof; Aluminum siding; Effective year built
• Construction: Aluminum siding construction; Shingle roof; Effective year built
• Exterior features: Shed(s); Community pool; Less than quarter acre lot; Faces south; Gated community; Security gate

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Kitchen island; Pantry
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; Kitchen island; Pantry; Walk-in closet(s); Florida room; Storage room; Utility room
• Laundry & utility: Washer; Dryer; Electric water heater; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 4.2% in Deerfield 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 75/100 on livability (#250 in FL, #3,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D-, amenities D-, employment D-.
• 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 rising (+1.8%/yr); 591 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,937/mo this rent would consume 49% of the median local household income ($71k/yr) (locally 2907% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $199k implies a 298% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.48% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.37%
• DSCR: 1.95
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.75% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.49×
• Total profit: $27,325
• Equity at exit: $29,672

10-year hold

• IRR: 20.4%
• Equity multiple: 2.63×
• Total profit: $90,643
• Equity at exit: $17,206

Cash invested: $55,720 (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 33064

• Home prices YoY: -18.7%
• Rents YoY: 1.8%
• Active inventory: 591
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,937 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$83
• HOA: −$120
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $992

Break-even live

Break-even rent $1,681

Max offer price $199,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,105	-5% $1,049	+0% $992	+5% $936	+10% $880
Rent	-10% $760	-5% $876	+0% $992	+5% $1,108	+10% $1,224
Rate	-1.0pp $1,093	-0.5pp $1,043	base $992	+0.5pp $941	+1.0pp $888

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
265 NE 46th St Deerfield Beach, FL	2.0	1.0	1335	$2,250	$1.69	18d	1	0.41mi
378 NE 47th Pl #378 Pompano Beach, FL	3.0	2.5	1457	$3,000	$2.06	25d	1	0.46mi
220 NW 43rd Ct Deerfield Beach, FL	3.0	2.0	1458	$2,700	$1.85	15d	1	0.62mi
1320 SW 11th Ave Unit A Deerfield Beach, FL	2.0	1.0	2266	$2,000	$0.88	25d	1	0.62mi
2246 Discovery Cir W Deerfield Beach, FL	2.0	2.5	1300	$2,650	$2.04	25d	1	0.64mi
220 NW 43rd St Deerfield Beach, FL	3.0	2.0	1458	$2,800	$1.92	25d	1	0.67mi
2149 Discovery Cir W Unit 1 Deerfield Beach, FL	2.0	2.5	1300	$2,850	$2.19	22d	1	0.67mi
2217 Discovery Cir W Deerfield Beach, FL	2.0	2.5	1429	$2,400	$1.68	15d	1	0.69mi
2265 SW 15th St #165 Deerfield Beach, FL	3.0	2.0	1350	$2,400	$1.78	25d	1	0.73mi
1100 S Military Trl Deerfield Beach, FL	2.0–3.0	1.0–2.0	1119	$2,250	$2.01	25d	2	0.74mi
4313 NW 6th Ave Deerfield Beach, FL	3.0	2.0	1348	$2,850	$2.11	22d	1	0.74mi
4030 NE 2nd Ter Deerfield Beach, FL	3.0	2.0	1740	$3,650	$2.10	12d	1	0.86mi
4030 NE 2nd Ter Deerfield Beach, FL	3.0	2.0	1740	$3,650	$2.10	15d	1	0.86mi
1398 SW 24th Ter Deerfield Beach, FL	3.0	2.0	1865	$5,000	$2.68	25d	1	0.87mi
4344 NW 9th Ave Unit 10-2B Pompano Beach, FL	2.0	2.0	1290	$1,730	$1.34	25d	1	0.90mi
4314 NW 9th Ave Deerfield Beach, FL	1.0–2.0	1.5–2.0	992	$1,940	$1.95	15d	2	0.90mi
5161 NW 11th Ln Deerfield Beach, FL	3.0	2.0	1486	$2,925	$1.97	25d	1	0.94mi
5140 NW 11th Dr Deerfield Beach, FL	3.0	2.0	1324	$3,000	$2.27	14d	1	0.96mi
4321 NW 9th Ave #204 Deerfield Beach, FL	2.0	2.0	1360	$2,350	$1.73	8d	1	0.98mi
4362 Veleiros Ave Pompano Beach, FL	3.0	2.5	1628	$3,700	$2.27	25d	1	1.01mi
521 SW 11th Dr Deerfield Beach, FL	3.0	2.0	1298	$2,950	$2.27	22d	1	1.07mi
2776 SW 15th St Deerfield Beach, FL	2.0	2.5	1236	$2,900	$2.35	25d	1	1.07mi
4329 Veleiros Ave Pompano Beach, FL	3.0	2.5	1479	$3,499	$2.37	25d	1	1.08mi
562 Parsons Way Deerfield Beach, FL	3.0	2.5	1888	$4,400	$2.33	11d	1	1.09mi
223 SW 14th Pl Deerfield Beach, FL	3.0	2.0	1550	$2,950	$1.90	5d	1	1.10mi
4053 Eastridge Dr Deerfield Beach, FL	3.0	2.5	1478	$3,300	$2.23	25d	1	1.11mi
550 Parsons Way Deerfield Beach, FL	3.0	2.5	1883	$4,100	$2.18	17d	1	1.12mi
550 Parsons Way Deerfield Beach, FL	3.0	2.5	1883	$4,100	$2.18	16d	1	1.12mi
1280 NW 49th St Deerfield Beach, FL	3.0	2.0	1575	$2,700	$1.71	25d	1	1.13mi
1361 SW 26th Ave Deerfield Beach, FL	3.0	2.0	1932	$3,850	$1.99	17d	1	1.13mi
1067 Rio Ct Unit 1067 Lighthouse Point, FL	3.0	2.5	1622	$3,800	$2.34	25d	1	1.13mi
4317 Lago Dr Unit 4317 Lighthouse Point, FL	3.0	2.5	1830	$3,750	$2.05	25d	1	1.13mi
1221 NW 44th St Deerfield Beach, FL	3.0	2.0	1624	$3,100	$1.91	8d	1	1.14mi
2826 SW 12th St Deerfield Beach, FL	2.0	2.5	1236	$2,600	$2.10	4d	1	1.22mi
1851 Sandpiper Pointe Pl Deerfield Beach, FL	3.0	2.5	1888	$3,750	$1.99	25d	1	1.23mi
1851 Sandpiper Pointe Pl Unit 1851 Deerfield Beach, FL	3.0	2.5	1888	$3,750	$1.99	14d	1	1.23mi
1433 NE 53rd Ct Pompano Beach, FL	3.0	2.0	1225	$3,950	$3.22	25d	1	1.23mi
887 Crystal Lake Dr Deerfield Beach, FL	2.0	1.5	1380	$2,670	$1.93	25d	1	1.25mi
4211 NE 13th Ave Unit 1332459P Pompano Beach, FL	3.0	2.0	1291	$10,288	$7.97	22d	1	1.34mi
1410 NE 43rd Ct Pompano Beach, FL	3.0	1.5	1244	$2,476	$1.99	25d	1	1.35mi

HOA detail

• Monthly dues: $120 · $1,440/yr
• Likely covers: security

Listing history 19 events

1. 2026-06-18
   days on market $199,000 Active 108 DOM
2. 2026-06-17
   days on market $199,000 Active 107 DOM
3. 2026-06-16
   days on market $199,000 Active 106 DOM
4. 2026-06-15
   days on market $199,000 Active 105 DOM
5. 2026-06-13
   days on market $199,000 Active 103 DOM
6. 2026-06-09
   days on market $199,000 Active 99 DOM
7. 2026-06-07
   days on market $199,000 Active 97 DOM
8. 2026-06-04
   days on market $199,000 Active 94 DOM
9. 2026-06-03
   days on market $199,000 Active 93 DOM
10. 2026-06-02
    days on market $199,000 Active 92 DOM
11. 2026-06-01
    days on market $199,000 Active 91 DOM
12. 2026-05-31
    days on market $199,000 Active 90 DOM
13. 2026-03-25
    price $199,000
14. 2026-02-22
    listed $229,000 Active
15. 2001-05-09
    soldstatus $50,000
16. 2000-10-31
    historical
17. 2000-03-23
    listed $67,000
18. 1988-11-07
    soldstatus $60,000
19. 1980-01-01
    soldstatus $20,000

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$678/yr (+$56/mo · 69.6%)

ⓘ 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 ≥107°F today · 13 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,241
• − Mortgage interest: −$11,147
• − Property taxes: −$974
• − Insurance: −$995
• − Repairs & maintenance: −$2,819
• − Management: −$2,819
• − HOA: −$1,440
• − Depreciation: −$5,789
• Taxable income: $9,257
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $9,687/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 — Deerfield Beach

• Score: 75/100
• State rank: #250
• US rank: #3970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield Beach, FL
• County: Broward County · 1,963,430 people
• City population: 61,449
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 64,563
• Household income: $71,301
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 2907.0

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 0.75)
• Race & ethnicity: White 34% Hispanic / Latino 27% Black 25% Two or more races 24% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 13% Estonian 10% Romanian 1%
• Foreign-born: 43% · Canada, Jamaica, Dominican Republic
• Languages at home: 45% English-only · Spanish 23% French/Haitian/Cajun 16% Other Indo-European 13%

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: ▼ -109.09%
• Current HPI: 474.7007
• Rent YoY: ▲ 1.75%
• 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

+895.0% since first listed

7 events — show timeline

• 2026-03-25 Price Changed $199,000 MARMLS
• 2026-02-22 Listed $229,000 MARMLS
• 2001-05-09 Sold (Public Records) $50,000 Public Records
• 2000-10-31 Listing Removed — Beaches MLS
• 2000-03-23 Listed $67,000 Beaches MLS
• 1988-11-07 Sold (Public Records) $60,000 Public Records
• 1980-01-01 Sold (Public Records) $20,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $974 · +6.2% YoY. Source: county tax records.