6239 Coral Lake Dr #6239 · Margate, FL 33063

$165,000

2 bd · 2.0 ba · 1,090 sqft · Condo · 102 Days on market

Built 1980 Good condition $600/mo HOA · 25% of rent ↓ 7% since listing

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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 +17.2/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Wake up every day to a spectacular lake view! This beautiful spacious 2-bedroom, 2-bathroom condo is in mint condition and ready for its new owner. Tile and laminate flooring throughout. The unit features an open floor plan and a screened patio overlooking a tranquil lake. The kitchen has been updated with brand-new countertops, a new sink. Stainless steel appliances, giving the space a fresh, modern feel. Enjoy the comfort of having your own washer and dryer inside the unit. Convenient private 4x4 storage unit. Community amenities BBQ/picnic area, billiard room, clubhouse, elevator, heated pool, shuffleboard. Condo dues include Breezeline fiber optic internet and cable, water, sewer, on-si

Key facts

• Screened patio
• Lake view
• Bbq picnic area

Tags

• LAKE VIEW
• SCREENED PATIO
• UPDATED COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE STORAGE UNIT
• BBQ PICNIC AREA

Property features AI

Finance

• HOA & community: Association with a $600 monthly HOA fee; Senior community; Pets allowed with breed restrictions

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Resale; 4-story building; Faces northeast
• Construction: CBS construction
• Exterior features: Waterfront property (no specific waterfront features listed); Flat roof

Interior

• Kitchen: Electric range; Disposal
• Bedrooms: One bedroom on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Split bedroom layout
• Laundry & utility: In-unit laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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: Liberty Elementary School (math 29% / reading 40%, grade F, #1,709 of 2,144 statewide, top 81%, 732 students, 73% FRL); Margate Middle School (math 25% / reading 34%, grade F, #469 of 571 statewide, top 84%, 1,094 students, 77% FRL); Monarch High School (math 26% / reading 50%, grade F, #328 of 667 statewide, top 50%, 2,344 students, 54% FRL) — zoned schools average 68% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 45% 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 $1k of loan paydown is wiped out by about $5k 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 102 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.43% ✓
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 5.8

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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-21,239
• Equity at exit: $24,602

10-year hold

• IRR: -6.1%
• Equity multiple: 0.63×
• Total profit: $-17,072
• Equity at exit: $14,266

Cash invested: $46,200 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,353 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$600
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $119

Break-even live

Break-even rent $2,203

Max offer price $165,000

Occupancy floor 90%

Sensitivity live

Price	-10% $233	-5% $176	+0% $119	+5% $62	+10% $5
Rent	-10% $-67	-5% $26	+0% $119	+5% $212	+10% $305
Rate	-1.0pp $202	-0.5pp $161	base $119	+0.5pp $76	+1.0pp $33

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5555 Celebration Point Ln Margate, FL	1.0–3.0	1.0–2.0	970	$2,480	$2.56	0d	9	0.25mi
2474 NW 49th Ter #766 Coconut Creek, FL	2.0	2.0	974	$2,300	$2.36	13d	1	0.28mi
2486 NW 49th Ter #762 Coconut Creek, FL	3.0	2.0	1116	$2,350	$2.11	9d	1	0.28mi
6729 Coral Lake Dr #6729 Margate, FL	2.0	2.0	1090	$1,995	$1.83	12d	1	0.31mi
4820 NW 22nd St #4134 Coconut Creek, FL	2.0	2.5	1244	$2,700	$2.17	13d	1	0.43mi
4820 NW 22nd St #4134 Coconut Creek, FL	2.0	2.5	1244	$2,700	$2.17	9d	1	0.43mi
4821 NW 22nd St Coconut Creek, FL	2.0	2.5	1244	$2,595	$2.09	3d	1	0.43mi
4821 NW 22nd St Coconut Creek, FL	2.0	2.5	1244	$2,595	$2.09	16d	1	0.43mi
5755 Winfield Blvd Margate, FL	2.0	1.0	1200	$2,200	$1.83	9d	1	0.45mi
3357 Cocoplum Cir #33133 Coconut Creek, FL	2.0	2.5	1182	$2,550	$2.16	15d	1	0.46mi
3357 Cocoplum Cir #33133 Coconut Creek, FL	2.0	2.5	1182	$2,500	$2.12	25d	1	0.46mi
5533 Courtyard Dr #5533 Margate, FL	2.0	2.0	970	$1,995	$2.06	25d	1	0.46mi
3287 Cocoplum Cir #3321 Coconut Creek, FL	3.0	2.0	1100	$2,500	$2.27	18d	1	0.50mi
3439 Cocoplum Cir #3420 Coconut Creek, FL	2.0	2.0	982	$2,250	$2.29	9d	1	0.52mi
3781 Cocoplum Cir #3579 Coconut Creek, FL	2.0	2.0	982	$2,300	$2.34	20d	1	0.61mi
6073 NW 27th St Unit 6073 Margate, FL	3.0	2.0	914	$2,700	$2.95	16d	1	0.63mi
5380 Jubilee Way #200 Margate, FL	2.0	1.5	1110	$2,500	$2.25	25d	1	0.65mi
5448 Jubilee Way #217 Margate, FL	1.0	1.5	1010	$1,950	$1.93	4d	1	0.65mi
3757 Cocoplum Cir #3567 Coconut Creek, FL	2.0	2.0	982	$2,100	$2.14	25d	1	0.66mi
3050 Toscana Ln W Margate, FL	1.0–3.0	1.0–2.0	1075	$2,550	$2.37	0d	1	0.68mi
3831 Cocoplum Cir #3592 Coconut Creek, FL	3.0	2.0	1115	$2,450	$2.20	16d	1	0.69mi
2615 NW 62nd Ave Unit 2615 Margate, FL	3.0	2.0	1349	$3,500	$2.59	25d	1	0.70mi
3417 Merrick Ct #1206 Margate, FL	3.0	2.5	1371	$2,650	$1.93	25d	1	0.70mi
5295 Jamboree Pl Margate, FL	2.0	2.5	1110	$2,500	$2.25	25d	1	0.74mi
3933 Cocoplum Cir #3518 Coconut Creek, FL	2.0	2.0	982	$2,200	$2.24	20d	1	0.74mi
1901 Lyons Rd Coconut Creek, FL	1.0–3.0	1.0–2.0	1121	$2,405	$2.15	0d	13	0.75mi
3427 NW 47th Ave #3190 Coconut Creek, FL	2.0	2.0	955	$2,300	$2.41	23d	1	0.77mi
3427 NW 47th Ave #3190 Coconut Creek, FL	2.0	2.0	955	$2,300	$2.41	9d	1	0.77mi
3950 Cocoplum Cir Coconut Creek, FL	3.0	2.5	1388	$3,200	$2.31	12d	1	0.77mi
3950 Cocoplum Cir #3638 Coconut Creek, FL	3.0	2.5	1388	$3,200	$2.31	25d	1	0.77mi
3953 Cocoplum Cir #3611 Coconut Creek, FL	2.0	2.0	1140	$2,700	$2.37	2d	1	0.79mi
3953 Cocoplum Cir #3611 Coconut Creek, FL	2.0	2.0	1140	$2,700	$2.37	6d	1	0.79mi
2401 Antigua Cir Unit J3 Coconut Creek, FL	1.0	1.5	798	$1,650	$2.07	25d	1	0.79mi
3961 Cocoplum Cir Unit F Coconut Creek, FL	2.0	2.5	1208	$2,200	$1.82	25d	1	0.81mi
2402 Antigua Cir Unit D1 Coconut Creek, FL	2.0	2.0	1156	$2,000	$1.73	16d	1	0.84mi
2900 NW 42nd Ave Unit A110 Coconut Creek, FL	2.0	2.0	930	$2,000	$2.15	6d	1	0.85mi
2404 Antigua Cir Unit J4 Coconut Creek, FL	1.0	1.5	798	$1,500	$1.88	25d	1	0.85mi
2900 NW 42nd Ave Unit A103 Coconut Creek, FL	2.0	2.0	970	$2,100	$2.16	23d	1	0.86mi
2900 NW 42nd Ave Unit A103 Coconut Creek, FL	2.0	2.0	970	$2,100	$2.16	25d	1	0.86mi
3393 Carambola Cir S #2441 Coconut Creek, FL	2.0	2.5	1230	$2,500	$2.03	15d	1	0.87mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: watersewerinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $165,000 Active 102 DOM
2. 2026-06-18
   days on market $165,000 Active 99 DOM
3. 2026-06-17
   days on market $165,000 Active 98 DOM
4. 2026-06-16
   days on market $165,000 Active 97 DOM
5. 2026-06-15
   days on market $165,000 Active 96 DOM
6. 2026-06-13
   days on market $165,000 Active 94 DOM
7. 2026-06-09
   days on market $165,000 Active 90 DOM
8. 2026-06-07
   days on market $165,000 Active 88 DOM
9. 2026-06-04
   days on market $165,000 Active 85 DOM
10. 2026-06-03
    days on market $165,000 Active 84 DOM
11. 2026-06-02
    days on market $165,000 Active 83 DOM
12. 2026-06-01
    days on market $165,000 Active 82 DOM
13. 2026-05-31
    days on market $165,000 Active 81 DOM
14. 2026-05-15
    price $165,000
15. 2026-04-17
    price $175,000
16. 2026-03-08
    listed $178,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,242
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − HOA: −$7,200
• − Depreciation: −$4,800
• Taxable loss: −$819
• Est. tax savings @ 24.0%: +$197
• After-tax cash flow: $1,624/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated townhouse is ready for its new owner. The spacious floor plan, updated kitchen and bathrooms, and serene lake view make it an attractive investment.

Value-add opportunities

• Both painting the exterior — enhances curb appeal and resale value
• Both upgrading the flooring — improves aesthetics and functionality
• Both installing new ceiling fans — enhances comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both painting the exterior — enhances curb appeal and resale value ↑
• Both upgrading the flooring — improves aesthetics and functionality ↑
• Both installing new ceiling fans — enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.3% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $165,000 Beaches MLS
• 2026-04-17 Price Changed $175,000 Beaches MLS
• 2026-03-08 Listed $178,000 Beaches MLS