7610 NW 1st St #208 · Margate, FL 33063

$105,000

2 bd · 2.0 ba · 990 sqft · Condo public records · 156 Days on market

Built 1976 $529/mo HOA · 29% 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 +18.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on Market! Second Floor corner unit, Canal view from 2 sides. Unit has been stripped and is ready for your creative touch. 55+ community, no rentals. One assigned parking space, with ample guest parking. Extra Storage Locker, Laundry room, Basic Cable and Water are included. Association Requires a 20% Down Payment, and Security Deposit of 6 months HOA, to be Refunded after 18 Months. In Person Interview Required. Realtors: make Buyer aware unit is gutted and needs full rehab

Key facts

• Extra storage locker
• Canal view
• Laundry room

Tags

• CANAL VIEW
• EXTRA STORAGE LOCKER
• LAUNDRY ROOM

Property features AI

Finance

• Other: Association fee amount not included due to financial data exclusion
• Financial info: Pets not allowed / pet restrictions
• HOA & community: Quarterly association fee; Association covers common areas, cable TV, structure maintenance, pest control, and water; Community amenities include clubhouse and fitness center

Exterior

• Parking: One parking space
• Security: Smoke detectors
• Utilities: Cable available
• Home design: Attached property; 2 stories; Entry on level 2; Has a view
• Construction: Block and pre-cast concrete construction; Effective year built
• Exterior features: Canal-front waterfront; No additional exterior features listed

Interior

• Kitchen: Electric water heater
• Bedrooms: Upper-level primary
• Flooring: Concrete floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Second floor entry; Living/dining room; Upper-level primary bedroom; Unfurnished
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 rising (+1.9%/yr); 548 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).
• This rent runs 34% of the median local income ($63k/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 $726 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 156 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $105k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.72% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.60×
• Total profit: $-11,897
• Equity at exit: $15,656

10-year hold

• IRR: -4.3%
• Equity multiple: 0.73×
• Total profit: $-7,879
• Equity at exit: $9,078

Cash invested: $29,400 (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 33063

• Home prices YoY: -18.1%
• Rents YoY: 1.9%
• Active inventory: 548
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,806 high
• Mortgage (P&I): −$551
• Tax from tax record: −$199 /mo · $2,394/yr
• Insurance: −$44
• HOA: −$529
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $104

Break-even live

Break-even rent $1,674

Max offer price $105,000

Occupancy floor 89%

Sensitivity live

Price	-10% $164	-5% $134	+0% $104	+5% $74	+10% $45
Rent	-10% $-39	-5% $33	+0% $104	+5% $175	+10% $247
Rate	-1.0pp $157	-0.5pp $131	base $104	+0.5pp $77	+1.0pp $49

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260 NW 76th Ave #406 Margate, FL	2.0	2.0	1100	$1,700	$1.55	25d	1	0.16mi
260 NW 76th Ave #404 Margate, FL	1.0	2.0	960	$1,500	$1.56	25d	1	0.16mi
370 NW 76th Ave #202 Margate, FL	2.0	2.0	1100	$1,950	$1.77	12d	1	0.21mi
480 NW 76th Ave #105 Margate, FL	1.0	2.0	960	$1,500	$1.56	25d	1	0.26mi
7300 Lake Circle Dr #107 Margate, FL	2.0	2.0	1100	$1,850	$1.68	14d	1	0.27mi
7431 NW 1st St Margate, FL	2.0	2.0	1100	$1,900	$1.73	25d	1	0.27mi
7561 NW 1st St #204 Margate, FL	1.0	2.0	960	$1,750	$1.82	5d	1	0.31mi
357 N Rock Island Rd #207 Margate, FL	2.0	2.0	1100	$1,720	$1.56	25d	1	0.36mi
357 N Rock Island Rd #207 Margate, FL	2.0	2.0	1100	$1,720	$1.56	11d	1	0.36mi
357 N Rock Island Rd #407 Margate, FL	2.0	2.0	1100	$1,700	$1.55	3d	1	0.36mi
7600 NW 4th Pl #207 Margate, FL	2.0	2.0	990	$1,700	$1.72	25d	1	0.37mi
7901 Southgate Blvd Apt C5 North Lauderdale, FL	2.0	2.0	1010	$2,100	$2.08	3d	1	0.37mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	3d	1	0.39mi
7500 NW 4th Pl Margate, FL	2.0	2.0	990	$1,850	$1.87	25d	1	0.39mi
7605 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,350	$2.01	25d	1	0.44mi
7600 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,600	$1.62	25d	1	0.46mi
7300 NW 4th Pl #101 Margate, FL	2.0	2.0	990	$1,400	$1.41	20d	1	0.46mi
7205 W Atlantic Blvd #101 Margate, FL	2.0	2.0	990	$1,500	$1.52	25d	1	0.47mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	25d	1	0.48mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	17d	1	0.48mi
7605 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,500	$1.52	25d	1	0.48mi
8011 Southgate Blvd Unit L1 North Lauderdale, FL	2.0	2.0	1010	$2,100	$2.08	3d	1	0.49mi
8011 Southgate Blvd Unit L1 North Lauderdale, FL	2.0	2.0	1010	$2,099	$2.08	22d	1	0.49mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	25d	1	0.53mi
7305 NW 5th Pl #206 Margate, FL	2.0	2.0	990	$1,650	$1.67	25d	1	0.56mi
7710 SW 6th St North Lauderdale, FL	2.0	1.0	1056	$2,525	$2.39	3d	1	0.57mi
551 Kathy Ct Margate, FL	2.0	1.0–2.0	851	$1,945	$2.29	4d	2	0.68mi
1005 Country Club Dr Margate, FL	2.0	2.0	925	$1,475	$1.59	22d	2	0.68mi
563 Kathy Ct Margate, FL	2.0	2.0	875	$2,035	$2.33	25d	1	0.68mi
7897 Golf Circle Dr #108 Margate, FL	1.0	1.5	775	$1,450	$1.87	17d	1	0.70mi
1010 Country Club Dr #206 Margate, FL	1.0	1.5	775	$1,450	$1.87	25d	1	0.70mi
568 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	25d	1	0.71mi
1025 Country Club Dr #302 Margate, FL	2.0	2.0	920	$1,475	$1.60	25d	1	0.74mi
631 Kathy Ct Margate, FL	2.0	2.0	875	$1,995	$2.28	18d	1	0.75mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,450	$1.92	5d	2	0.77mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	19d	1	0.78mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	5d	1	0.78mi
1030 Country Club Dr #309 Margate, FL	2.0	2.0	1038	$1,450	$1.40	25d	1	0.78mi
1035 Country Club Dr Margate, FL	1.0–2.0	1.0–2.0	925	$1,499	$1.62	25d	2	0.79mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,250	$2.12	18d	1	0.80mi

HOA detail condo

• Monthly dues: $529 · $6,348/yr
• Likely covers: watercablesecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $105,000 Active 156 DOM
2. 2026-06-17
   days on market $105,000 Active 155 DOM
3. 2026-06-16
   days on market $105,000 Active 154 DOM
4. 2026-06-15
   days on market $105,000 Active 153 DOM
5. 2026-06-13
   days on market $105,000 Active 151 DOM
6. 2026-06-09
   days on market $105,000 Active 147 DOM
7. 2026-06-07
   days on market $105,000 Active 145 DOM
8. 2026-06-04
   days on market $105,000 Active 142 DOM
9. 2026-06-03
   days on market $105,000 Active 141 DOM
10. 2026-06-02
    days on market $105,000 Active 140 DOM
11. 2026-06-01
    days on market $105,000 Active 139 DOM
12. 2026-05-31
    days on market $105,000 Active 138 DOM
13. 2026-04-21
    price $105,000
14. 2026-01-13
    listed $114,500 Active
15. 2026-01-01
    historical
16. 2025-07-01
    status Active
17. 2025-06-24
    historical
18. 2025-01-14
    price $115,900
19. 2024-04-01
    listed $119,900 Active
20. 1978-03-01
    soldstatus $29,500
21. 1975-05-01
    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: $2,394 · $199/mo
• Projected year-2 tax: $2,394 · $199/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 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $21,675
• − Mortgage interest: −$5,882
• − Property taxes: −$2,394
• − Insurance: −$525
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − HOA: −$6,348
• − Depreciation: −$3,055
• Taxable income: $4
• Est. tax owed @ 24.0%: −$1
• After-tax cash flow: $1,248/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): 55,466
• Household income: $62,918
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 2290.0

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: White 34% Hispanic / Latino 29% Black 28% Two or more races 18% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 3% Dominican 3%
• Common ancestry: Hispanic 6% Romanian 2% Estonian 2%
• Foreign-born: 36% · Canada, Jamaica, Vietnam
• Languages at home: 61% English-only · Spanish 24% French/Haitian/Cajun 7% Other Indo-European 4%

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: ▼ -87.17%
• Current HPI: 393.9225
• Rent YoY: ▲ 1.94%
• 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

+341.2% since first listed

9 events — show timeline

• 2026-04-21 Price Changed $105,000 MARMLS
• 2026-01-13 Listed $114,500 MARMLS
• 2026-01-01 Listing Removed — MARMLS
• 2025-07-01 Relisted — MARMLS
• 2025-06-24 Listing Removed — MARMLS
• 2025-01-14 Price Changed $115,900 MARMLS
• 2024-04-01 Listed $119,900 MARMLS
• 1978-03-01 Sold (Public Records) $29,500 Public Records
• 1975-05-01 Sold (Public Records) $23,800 Public Records

Property tax history

+18.4%/yr

Latest (2025): $2,394 · +2.1% YoY. Source: county tax records.