7610 NW 18th St #203 · Margate, FL 33063

$144,000

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 27 Days on market

Built 1979 $658/mo HOA · 36% of rent

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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 +11.0/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bright, updated, and move-in ready, this beautifully maintained 2-bedroom, 2-bath second-floor condo is located in the highly desirable Palm Springs 2 community in Margate. Enjoy tranquil golf course and canal views from the private screened balcony—an ideal space for morning coffee or evening relaxation. Inside, the spacious split-bedroom floor plan features tile flooring throughout, an open living and dining area, and abundant natural light. The updated eat-in kitchen offers ample cabinet space, modern countertops, and all major appliances, including a convenient in-unit washer and dryer. The primary suite includes a walk-in closet and private ensuite bath with a separate shower. Pa

Key facts

• Updated cabinets
• Golf course views
• Canal views

Tags

• GOLF COURSE VIEWS
• CANAL VIEWS
• PRIVATE SCREENED FLORIDA ROOM
• SPLIT-BEDROOM FLOOR PLAN
• REMODELED EAT-IN KITCHEN
• UPDATED CABINETS

Property features AI

Finance

• Other: Pool maintained by association; Located on a golf course
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities: clubhouse, elevators, fitness center, library, pool, storage; Association fees include common areas, cable TV, sewer, trash, water

Exterior

• Parking: Assigned parking
• Security: Smoke detector(s)
• Utilities: Cable available
• Home design: Condominium unit in a 4-story building; Entry on level 2; Attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Storm/security shutters; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Refrigerator
• Bedrooms: One bedroom (14 x 12)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $144k.

Deal economics

• At list price, monthly cash flow is $-61 ($-737/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (7.5% below list).
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $133k (7.5% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 560 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $996 of loan paydown is wiped out by about $4k 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 27 days — a 2% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• 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 $50k; list at $144k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $133,144 (7.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1979 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.27% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.83%
• DSCR: 0.92
• GRM: 6.5

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: -20.9%
• Equity multiple: 0.28×
• Total profit: $-28,840
• Equity at exit: $21,471

10-year hold

• IRR: -17.6%
• Equity multiple: 0.09×
• Total profit: $-36,530
• Equity at exit: $12,450

Cash invested: $40,320 (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: 560
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,834 high
• Mortgage (P&I): −$755
• Tax from tax record: −$37 /mo · $450/yr
• Insurance: −$60
• HOA: −$658
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-61

Break-even live

Break-even rent $1,912

Max offer price $133,144

Occupancy floor 98%

Sensitivity live

Price	-10% $20	-5% $-21	+0% $-61	+5% $-102	+10% $-143
Rent	-10% $-206	-5% $-134	+0% $-61	+5% $11	+10% $83
Rate	-1.0pp $11	-0.5pp $-25	base $-61	+0.5pp $-99	+1.0pp $-137

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7620 NW 18th St #203 Margate, FL	2.0	2.0	1000	$1,650	$1.65	26d	1	0.09mi
7420 NW 18th St #203 Margate, FL	2.0	2.0	1000	$1,800	$1.80	26d	1	0.09mi
7460 NW 18th St #201 Margate, FL	2.0	2.0	1000	$2,100	$2.10	26d	1	0.11mi
7396 NW 18th St #104 Margate, FL	1.0	2.0	850	$1,600	$1.88	9d	1	0.15mi
7396 NW 18th St #104 Margate, FL	1.0	2.0	850	$1,680	$1.98	26d	1	0.15mi
7320 NW 18th St #204 Margate, FL	2.0	2.0	1000	$1,600	$1.60	26d	1	0.20mi
1700 NW 80th Ave #108 Margate, FL	2.0	2.0	1000	$1,800	$1.80	26d	1	0.22mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	749	$1,575	$2.10	19d	2	0.23mi
7807 Golf Circle Dr Margate, FL	1.0	1.0–1.5	757	$1,525	$2.01	22d	4	0.23mi
7310 NW 18th St #107 Margate, FL	2.0	2.0	1000	$1,900	$1.90	26d	1	0.24mi
1480 NW 80th Ave #402 Margate, FL	2.0	2.0	1000	$1,875	$1.88	9d	1	0.25mi
7380 NW 18th St Margate, FL	2.0	2.0	1000	$1,825	$1.82	6d	2	0.25mi
7797 Golf Circle Dr Margate, FL	1.0–2.0	1.0–2.0	834	$1,800	$2.16	6d	2	0.30mi
7797 Golf Circle Dr #310 Margate, FL	2.0	2.0	930	$1,800	$1.94	26d	1	0.30mi
7370 NW 18th St #107 Margate, FL	2.0	2.0	1000	$2,050	$2.05	24d	1	0.31mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	20d	1	0.41mi
1030 Country Club Dr #401 Margate, FL	2.0	2.0	930	$1,450	$1.56	6d	1	0.41mi
1030 Country Club Dr #309 Margate, FL	2.0	2.0	1038	$1,450	$1.40	26d	1	0.41mi
1035 Country Club Dr Margate, FL	1.0–2.0	1.0–2.0	925	$1,499	$1.62	26d	2	0.42mi
7897 Golf Circle Dr Margate, FL	1.0–2.0	1.0–1.5	757	$1,450	$1.92	6d	2	0.42mi
1020 NW 80th Ave #203 Margate, FL	2.0	2.0	1000	$1,900	$1.90	4d	1	0.43mi
1020 NW 80th Ave #203 Margate, FL	2.0	2.0	1000	$1,900	$1.90	14d	1	0.43mi
1010 Country Club Dr #206 Margate, FL	1.0	1.5	775	$1,450	$1.87	26d	1	0.47mi
7895 Margate Blvd #203 Margate, FL	2.0	2.0	1000	$2,000	$2.00	0d	1	0.47mi
1025 Country Club Dr #302 Margate, FL	2.0	2.0	920	$1,475	$1.60	26d	1	0.49mi
7897 Golf Circle Dr #108 Margate, FL	1.0	1.5	775	$1,450	$1.87	18d	1	0.49mi
1045 NW 73rd Ave Margate, FL	2.0	1.0	1036	$2,500	$2.41	26d	1	0.50mi
1005 Country Club Dr Margate, FL	2.0	2.0	925	$1,438	$1.55	0d	2	0.53mi
1005 Country Club Dr Margate, FL	2.0	2.0	925	$1,475	$1.59	24d	2	0.53mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,250	$2.12	19d	1	0.56mi
1010 NW 72nd Ter Margate, FL	2.0	1.5	1061	$2,200	$2.07	9d	1	0.56mi
6890 Royal Palm Blvd Unit 209H Margate, FL	1.0	1.5	720	$1,450	$2.01	26d	1	0.68mi
7605 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,500	$1.52	26d	1	0.70mi
6850 Royal Palm Blvd Unit 305G Margate, FL	2.0	2.0	970	$1,675	$1.73	18d	1	0.71mi
6850 Royal Palm Blvd Unit G211 Margate, FL	2.0	2.0	970	$1,700	$1.75	26d	1	0.71mi
7600 NW 5th Pl #106 Margate, FL	2.0	2.0	990	$1,600	$1.62	26d	1	0.72mi
7305 NW 5th Pl #206 Margate, FL	2.0	2.0	990	$1,650	$1.67	26d	1	0.73mi
6750 Royal Palm Blvd Unit 209E Margate, FL	1.0	1.5	720	$1,000	$1.39	4d	1	0.77mi
7618 Pinewalk Dr S #132 Margate, FL	3.0	2.0	1395	$3,400	$2.44	16d	1	0.78mi
6670 Royal Palm Blvd Unit 205K Margate, FL	1.0	1.5	720	$1,300	$1.81	4d	1	0.81mi

HOA detail condo

• Monthly dues: $658 · $7,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-04-23
   listed $144,000 Active
3. 2026-04-03
   historical
4. 2025-11-03
   price $144,000
5. 2025-10-04
   listed $146,000 Active
6. 1996-03-18
   soldstatus $50,000

ⓘ 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: $450 · $37/mo
• Projected year-2 tax: $1,195 · $100/mo
• Expected delta: +$745/yr (+$62/mo · 165.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,013
• − Mortgage interest: −$8,066
• − Property taxes: −$450
• − Insurance: −$720
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − HOA: −$7,896
• − Depreciation: −$4,189
• Taxable loss: −$2,830
• Est. tax savings @ 24.0%: +$679
• After-tax cash flow: $-58/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

+188.0% since first listed

6 events — show timeline

• 2026-05-22 Pending — MARMLS
• 2026-04-23 Listed $144,000 MARMLS
• 2026-04-03 Listing Removed — Beaches MLS
• 2025-11-03 Price Changed $144,000 Beaches MLS
• 2025-10-04 Listed $146,000 Beaches MLS
• 1996-03-18 Sold (Public Records) $50,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $450 · +2.3% YoY. Source: county tax records.