1353 NW 62nd Way · Margate, FL 33063

$439,900

5 bd · 2.0 ba · 1,084 sqft · SingleFamily public records · 91 Days on market

Built 1959 8,863 sqft lot Est $364k · 21% over

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Why this score? — see what drove the D+ 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 +20.6/30.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully remodeled 3/2 in Margate on a big lot! The seller will install brand new stainless steel kitchen appliances prior to closing. The home sits in a very quiet street at the end of a cul de sac. This home has been fully updated with brand new wood floor s, kitchen, bathrooms, and central AC. This is a perfect starter home for a family. The seller will be accepting all forms of financed offers. This will not last! Please contact the listing agent for more info. Agents, see broker remarks for LB info.

Key facts

• Bright living area
• Spacious kitchen
• Tile flooring

Tags

• OVERSIZED LOT
• BRIGHT LIVING AREA
• SPACIOUS KITCHEN
• TILE FLOORING
• EXPANSIVE BACKYARD

Property features AI

Exterior

• Parking: Has carport (1 space); Covered driveway parking
• Home design: Single-story home; Faces northeast; R-1 zoning
• Construction: Effective year built
• Exterior features: No exterior features listed; Less than quarter-acre lot

Interior

• Bedrooms: Other room types
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First floor entry; Other interior features

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $440k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $440k).
• Recommended offer: $400k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $4,647/mo this rent would consume 89% of the median local household income ($63k/yr) (locally 2290% 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 $3k of loan paydown is wiped out by about $13k 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 91 days — a 9% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; list at $440k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $400,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.06% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $364,224
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6720 NW 7th Ct	0.64mi	4/2.0 (-1)	1,222 (+13%)	24mo	$410,000	$336	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-38,473
• Equity at exit: $65,591

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-4,375
• Equity at exit: $38,035

Cash invested: $123,172 (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: 7.9×

Monthly cashflow live

• Estimated rent: $4,647 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$591 /mo · $7,087/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $591

Break-even live

Break-even rent $3,900

Max offer price $439,900

Occupancy floor 82%

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: $109,975
• Closing costs: $13,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6466 NW 20th St Unit 1258743P Margate, FL	4.0	3.0	1496	$7,709	$5.15	2d	1	0.50mi
2294 NW 63rd Ave Margate, FL	4.0	2.0	1441	$3,800	$2.64	24d	1	0.80mi
5980 NW 24th Ct Margate, FL	4.0	2.0	1448	$3,506	$2.42	8d	1	0.89mi
5980 NW 24th Ct Margate, FL	4.0	2.0	1448	$3,440	$2.38	3d	1	0.89mi

Listing history 33 events

1. 2026-06-18
   days on market $439,900 Active 91 DOM
2. 2026-06-17
   days on market $439,900 Active 90 DOM
3. 2026-06-16
   days on market $439,900 Active 89 DOM
4. 2026-06-15
   days on market $439,900 Active 88 DOM
5. 2026-06-13
   days on market $439,900 Active 86 DOM
6. 2026-06-09
   days on market $439,900 Active 82 DOM
7. 2026-06-08
   days on market $439,900 Active 81 DOM
8. 2026-06-07
   days on market $439,900 Active 80 DOM
9. 2026-06-04
   days on market $439,900 Active 77 DOM
10. 2026-06-03
    days on market $439,900 Active 76 DOM
11. 2026-06-02
    days on market $439,900 Active 75 DOM
12. 2026-06-01
    days on market $439,900 Active 74 DOM
13. 2026-05-31
    days on market $439,900 Active 73 DOM
14. 2026-05-21
    price $439,900
15. 2026-05-14
    price $449,900
16. 2026-04-27
    price $459,900
17. 2026-03-19
    listed $469,900 Active
18. 2026-02-26
    soldstatus $249,900
19. 2015-10-08
    soldstatus $189,900 Sold 506-char remark

    Show marketing remark (506 chars)

    Fully remodeled 3/2 in Margate on a big lot! The seller will install brand new stainless steel kitchen appliances prior to closing. The home sits in a very quiet street at the end of a cul de sac. This home has been fully updated with brand new wood floor s, kitchen, bathrooms, and central AC. This is a perfect starter home for a family. The seller will be accepting all forms of financed offers. This will not last! Please contact the listing agent for more info. Agents, see broker remarks for LB info.

20. 2015-09-21
    soldstatus $189,900
21. 2015-08-26
    status Pending 506-char remark

    Show marketing remark (506 chars)

    Fully remodeled 3/2 in Margate on a big lot! The seller will install brand new stainless steel kitchen appliances prior to closing. The home sits in a very quiet street at the end of a cul de sac. This home has been fully updated with brand new wood floor s, kitchen, bathrooms, and central AC. This is a perfect starter home for a family. The seller will be accepting all forms of financed offers. This will not last! Please contact the listing agent for more info. Agents, see broker remarks for LB info.

22. 2015-08-20
    price $189,900 506-char remark

    Show marketing remark (506 chars)

    Fully remodeled 3/2 in Margate on a big lot! The seller will install brand new stainless steel kitchen appliances prior to closing. The home sits in a very quiet street at the end of a cul de sac. This home has been fully updated with brand new wood floor s, kitchen, bathrooms, and central AC. This is a perfect starter home for a family. The seller will be accepting all forms of financed offers. This will not last! Please contact the listing agent for more info. Agents, see broker remarks for LB info.

23. 2015-08-13
    listed $195,000 Active 506-char remark

    Show marketing remark (506 chars)

    Fully remodeled 3/2 in Margate on a big lot! The seller will install brand new stainless steel kitchen appliances prior to closing. The home sits in a very quiet street at the end of a cul de sac. This home has been fully updated with brand new wood floor s, kitchen, bathrooms, and central AC. This is a perfect starter home for a family. The seller will be accepting all forms of financed offers. This will not last! Please contact the listing agent for more info. Agents, see broker remarks for LB info.

24. 2007-09-14
    soldstatus $310,000
25. 2005-05-10
    soldstatus $255,000
26. 2005-04-29
    soldstatus $255,000 199-char remark

    Show marketing remark (199 chars)

    MOVE IN COND. FRESH PAINT, CERAMIC TILE THROUGHOUT, CROWN MOULDINGS, NEWER APPL, NEW MAPLE CAB IN KIT, TILED COUNTER & BACKSPLASH, RE- MODELED BATHS, LG FENCED IN YD IN ADDITION TO SCREENED PATIO

27. 2005-04-26
    historical 199-char remark

    Show marketing remark (199 chars)

    MOVE IN COND. FRESH PAINT, CERAMIC TILE THROUGHOUT, CROWN MOULDINGS, NEWER APPL, NEW MAPLE CAB IN KIT, TILED COUNTER & BACKSPLASH, RE- MODELED BATHS, LG FENCED IN YD IN ADDITION TO SCREENED PATIO

28. 2005-03-20
    listed $259,900 199-char remark

    Show marketing remark (199 chars)

    MOVE IN COND. FRESH PAINT, CERAMIC TILE THROUGHOUT, CROWN MOULDINGS, NEWER APPL, NEW MAPLE CAB IN KIT, TILED COUNTER & BACKSPLASH, RE- MODELED BATHS, LG FENCED IN YD IN ADDITION TO SCREENED PATIO

29. 2004-09-13
    soldstatus $200,000
30. 2004-07-15
    soldstatus $122,500
31. 2001-06-21
    soldstatus $114,000
32. 1999-06-05
    soldstatus $88,900
33. 1984-03-01
    soldstatus $63,900

ⓘ 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: $7,087 · $591/mo
• Projected year-2 tax: $7,087 · $591/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 (unshaded) · 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: $55,769
• − Mortgage interest: −$24,641
• − Property taxes: −$7,087
• − Insurance: −$2,200
• − Repairs & maintenance: −$4,461
• − Management: −$4,461
• − Depreciation: −$12,797
• Taxable income: $121
• Est. tax owed @ 24.0%: −$29
• After-tax cash flow: $7,059/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

+588.4% since first listed

20 events — show timeline

• 2026-05-21 Price Changed $439,900 MARMLS
• 2026-05-14 Price Changed $449,900 MARMLS
• 2026-04-27 Price Changed $459,900 MARMLS
• 2026-03-19 Listed $469,900 MARMLS
• 2026-02-26 Sold (Public Records) $249,900 Public Records
• 2015-10-08 Sold (MLS) $189,900 MARMLS
• 2015-09-21 Sold (Public Records) $189,900 Public Records
• 2015-08-26 Pending — MARMLS
• 2015-08-20 Price Changed $189,900 MARMLS
• 2015-08-13 Listed $195,000 MARMLS
• 2007-09-14 Sold (Public Records) $310,000 Public Records
• 2005-05-10 Sold (Public Records) $255,000 Public Records
• 2005-04-29 Sold (MLS) $255,000 Beaches MLS
• 2005-04-26 Listing Removed — Beaches MLS
• 2005-03-20 Listed $259,900 Beaches MLS
• 2004-09-13 Sold (Public Records) $200,000 Public Records
• 2004-07-15 Sold (Public Records) $122,500 Public Records
• 2001-06-21 Sold (Public Records) $114,000 Public Records
• 1999-06-05 Sold (Public Records) $88,900 Public Records
• 1984-03-01 Sold (Public Records) $63,900 Public Records

Property tax history

+10.4%/yr

Latest (2025): $7,087 · +7.1% YoY. Source: county tax records.