550 NW 78th Ter #205 · Margate, FL 33063

$55,000

1 bd · 1.0 ba · 735 sqft · Condo public records · 12 Days on market

Built 1974 $495/mo HOA · 32% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This 55+ condo in the heart of Margate offers a fantastic opportunity for those looking to create a space tailored to their specific taste. As a "diamond in the rough, " this unit is perfect for a handy buyer or investor ready to build immediate equity. The interior features a spacious, sun-filled layout that provides a solid foundation for your personalized updates. While the property requires cosmetic work—including flooring, paint, and a kitchen refresh—it is priced to sell and reflects its significant potential. Residents of this quiet community enjoy a relaxed lifestyle with access to excellent amenities like a clubhouse and a sparkling pool. Sold as-is, this repr

Key facts

• Clubhouse
• Spacious layout
• $495 HOA

Tags

• SPACIOUS LAYOUT
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Cap rate 14.4% 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.
• Zoned schools: Atlantic West Elementary School (math 28% / reading 42%, grade F, #1,697 of 2,144 statewide, top 80%, 622 students, 77% FRL); Margate Middle School (math 25% / reading 34%, grade F, #469 of 571 statewide, top 84%, 1,094 students, 77% FRL); Coconut Creek High School (math 13% / reading 26%, grade F, #562 of 667 statewide, top 85%, 1,892 students, 72% 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 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 558 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 1.9% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $33k; list at $55k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $55,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.81% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.01%
• DSCR: 2.29
• GRM: 3.0

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: 21.8%
• Equity multiple: 1.88×
• Total profit: $13,477
• Equity at exit: $8,201

10-year hold

• IRR: 28.9%
• Equity multiple: 3.40×
• Total profit: $36,975
• Equity at exit: $4,755

Cash invested: $15,400 (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: 558
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$288
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$23
• HOA: −$495
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $372

Break-even live

Break-even rent $1,076

Max offer price $55,000

Occupancy floor 71%

Sensitivity live

Price	-10% $403	-5% $388	+0% $372	+5% $357	+10% $341
Rent	-10% $250	-5% $311	+0% $372	+5% $433	+10% $495
Rate	-1.0pp $400	-0.5pp $386	base $372	+0.5pp $358	+1.0pp $344

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7605 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,350	$2.01	25d	1	0.31mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	18d	1	0.36mi
7500 NW 5th Pl #204 Margate, FL	1.0	1.0	670	$1,400	$2.09	25d	1	0.36mi
7305 NW 5th Ct #204 Margate, FL	1.0	1.0	670	$1,375	$2.05	25d	1	0.50mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,349	$1.78	6d	2	0.53mi
7797 Golf Circle Dr Margate, FL	1.0–2.0	1.0–2.0	834	$1,450	$1.74	5d	2	0.64mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	757	$1,525	$2.01	22d	4	0.70mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	749	$1,575	$2.10	18d	2	0.70mi
9000 Ramblewood Dr Apt 605 Coral Springs, FL	1.0	1.0	743	$1,971	$2.65	4d	1	1.02mi
9000 Ramblewood Dr Apt 605 Coral Springs, FL	1.0	1.0	743	$2,208	$2.97	25d	1	1.02mi
7110 Southgate Blvd Tamarac, FL	1.0	1.0	550	$1,600	$2.91	25d	1	1.14mi
7124 Southgate Blvd #7124 Tamarac, FL	1.0	1.0	550	$1,600	$2.91	25d	1	1.15mi
7178 Southgate Blvd #7178 Tamarac, FL	1.0	1.0	550	$1,700	$3.09	25d	1	1.16mi
7220 Southgate Blvd #7220 Tamarac, FL	1.0	1.0	550	$1,700	$3.09	25d	1	1.17mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	0d	4	1.33mi
400 NW 65th Ave Margate, FL	1.0–3.0	1.0–2.0	706	$1,599	$2.26	23d	4	1.33mi
6890 Royal Palm Blvd Unit 209H Margate, FL	1.0	1.5	720	$1,450	$2.01	25d	1	1.41mi
6750 Royal Palm Blvd Unit 209E Margate, FL	1.0	1.5	720	$1,000	$1.39	4d	1	1.46mi
1251 W River Dr Unit 3 Margate, FL	1.0	1.0	500	$1,500	$3.00	15d	1	1.47mi
6670 Royal Palm Blvd Unit 206K Margate, FL	1.0	1.5	720	$1,450	$2.01	3d	1	1.47mi
6670 Royal Palm Blvd Unit 206K Margate, FL	1.0	1.5	720	$1,450	$2.01	25d	1	1.47mi
6670 Royal Palm Blvd Unit 205K Margate, FL	1.0	1.5	720	$1,300	$1.81	4d	1	1.47mi

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-04-16
   listed $55,000 Active
3. 2026-03-20
   historical
4. 2025-04-22
   listed $60,000 Active
5. 2016-11-16
   soldstatus $33,000
6. 2009-07-24
   soldstatus $20,000
7. 2004-12-01
   soldstatus $37,000
8. 2004-05-27
   soldstatus $25,000
9. 1974-10-01
   soldstatus $17,500

ⓘ 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: $526 · $44/mo
• Projected year-2 tax: $526 · $44/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 7 d/yr ≥106°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: $18,570
• − Mortgage interest: −$3,081
• − Property taxes: −$526
• − Insurance: −$275
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − HOA: −$5,940
• − Depreciation: −$1,600
• Taxable income: $4,176
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $3,465/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

+214.3% since first listed

9 events — show timeline

• 2026-04-28 Pending — Beaches MLS
• 2026-04-16 Listed $55,000 Beaches MLS
• 2026-03-20 Listing Removed — Beaches MLS
• 2025-04-22 Listed $60,000 Beaches MLS
• 2016-11-16 Sold (Public Records) $33,000 Public Records
• 2009-07-24 Sold (Public Records) $20,000 Public Records
• 2004-12-01 Sold (Public Records) $37,000 Public Records
• 2004-05-27 Sold (Public Records) $25,000 Public Records
• 1974-10-01 Sold (Public Records) $17,500 Public Records

Property tax history

-2.2%/yr

Latest (2025): $526 · +4.0% YoY. Source: county tax records.