3131 S Ocean Dr #114 · Hallandale Beach, FL 33009

$255,000

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 99 Days on market

Built 1963 $700/mo HOA · 18% 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 +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your Hallandale Beach escape! This 2 bedroom/2 bathroom ground floor corner unit in Ambassador South Co-Op's 55+ community is move in ready and fully furnished for your convenience. Located right across the street from the ocean and right next to the community pool, you can enjoy the Florida sunshine as you wish. Upgrades include impact windows and doors, central AC, tile flooring throughout, renovated guest bath, and an enclosed patio for extra living space. Fully funded reserves, no upcoming or current special assessments, and 40 & 50 year inspections have passed! No land lease, no leasing first 5 years of ownership, cash only. Conveniently located by Gulfstream Casino, A

Key facts

• Central ac
• Tile flooring
• Renovated guest bath

Tags

• GROUND FLOOR CORNER UNIT
• IMPACT WINDOWS AND DOORS
• CENTRAL AC
• TILE FLOORING
• RENOVATED GUEST BATH
• ENCLOSED PATIO

Property features AI

Finance

• Other: No pets allowed
• HOA & community: Association: Ambassador South; Monthly HOA fee covers insurance, grounds and structure maintenance, pest control, sewer, water, common areas, reserve funds, roof repairs; Community amenities include clubhouse, pool, parking, trash chute, and bike storage; Senior community

Exterior

• Parking: Assigned parking plus guest parking; 1 open parking space
• Utilities: Public water; Public sewer; Electric service available; Cable available
• Home design: Stock cooperative unit; Ground floor corner unit; One level; Faces east
• Construction: CBS construction; Flat roof; 2-story building
• Exterior features: Porch with glass enclosure; Intracoastal waterfront; Waterfront access

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Split bedroom layout; Blinds on windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Recommended offer: $232k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.2% in Hallandale Beach — 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 (#86 in FL, #1,400 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, crime B+; Watch: schools C-, employment D-.
• 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 flat; 1373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $3,960/mo this rent would consume 91% of the median local household income ($52k/yr) (locally 3293% 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 $2k of loan paydown is wiped out by about $8k 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 99 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.55% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.69%
• DSCR: 1.43
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.43×
• Total profit: $-40,931
• Equity at exit: $38,021

10-year hold

• IRR: -19.0%
• Equity multiple: 0.17×
• Total profit: $-58,958
• Equity at exit: $22,048

Cash invested: $71,400 (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 33009

• Rents YoY: 0.4%
• Active inventory: 1373
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,960 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$408 /mo · $4,898/yr
• Insurance: −$106
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$700
• Vacancy / Maint / Mgmt: −$832
• Net cashflow: $150

Break-even live

Break-even rent $3,770

Max offer price $255,000

Occupancy floor 91%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	11d	1	0.06mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	24d	1	0.06mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	8d	1	0.08mi
2080 S Ocean Dr #3 Hallandale Beach, FL	2.0	2.0	1260	$5,000	$3.97	24d	1	0.12mi
2080 S Ocean Dr #6 Hallandale Beach, FL	2.0	2.0	1165	$4,500	$3.86	24d	1	0.12mi
2080 S Ocean Dr #8 Hallandale Beach, FL	2.0	2.0	1100	$4,000	$3.64	24d	1	0.12mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,900	$3.07	24d	7	0.12mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,800	$2.99	3d	11	0.12mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	2d	2	0.12mi
2017 S Ocean Dr #1107 Hallandale Beach, FL	2.0	2.0	1270	$3,900	$3.07	14d	1	0.13mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,750	$3.71	3d	9	0.14mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,825	$3.77	24d	9	0.14mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,775	$3.73	3d	8	0.14mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,850	$3.79	5d	7	0.14mi
2030 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1280	$4,800	$3.75	3d	7	0.14mi
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	8d	1	0.15mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$3,650	$2.84	24d	3	0.15mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$3,750	$2.97	21d	2	0.15mi
1985 S Ocean Dr Unit 22P Hallandale Beach, FL	2.0	2.0	1380	$4,000	$2.90	24d	1	0.19mi
1985 S Ocean Dr Unit 21P Hallandale Beach, FL	2.0	2.0	1380	$3,800	$2.75	8d	1	0.19mi
1985 S Ocean Dr Unit 9G Hallandale Beach, FL	2.0	2.0	1240	$3,700	$2.98	24d	1	0.19mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	2d	1	0.27mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	5d	1	0.27mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	18d	1	0.27mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	13d	1	0.27mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	8d	2	0.29mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	13d	2	0.29mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,000	$2.59	15d	3	0.29mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1522	$3,650	$2.40	19d	3	0.29mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	24d	1	0.38mi
1904 S Ocean Dr #1707 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	24d	1	0.38mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	24d	1	0.40mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	24d	1	0.42mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$4,900	$3.63	15d	1	0.42mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	17d	1	0.42mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	24d	1	0.53mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	3d	1	0.53mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	24d	1	0.53mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	24d	1	0.53mi
1830 S Ocean Dr #1610 Hallandale Beach, FL	2.0	2.0	1337	$6,500	$4.86	24d	1	0.57mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $255,000 Active 99 DOM
2. 2026-06-17
   days on market $255,000 Active 98 DOM
3. 2026-06-16
   days on market $255,000 Active 97 DOM
4. 2026-06-15
   days on market $255,000 Active 96 DOM
5. 2026-06-13
   days on market $255,000 Active 94 DOM
6. 2026-06-09
   days on market $255,000 Active 90 DOM
7. 2026-06-07
   days on market $255,000 Active 88 DOM
8. 2026-06-04
   days on market $255,000 Active 85 DOM
9. 2026-06-03
   days on market $255,000 Active 84 DOM
10. 2026-06-02
    days on market $255,000 Active 83 DOM
11. 2026-06-01
    days on market $255,000 Active 82 DOM
12. 2026-05-31
    days on market $255,000 Active 81 DOM
13. 2025-12-11
    listed $255,000 Active

ⓘ 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: $4,898 · $408/mo
• Projected year-2 tax: $4,898 · $408/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,521
• − Mortgage interest: −$14,284
• − Property taxes: −$4,898
• − Insurance: −$6,394
• − Repairs & maintenance: −$3,802
• − Management: −$3,802
• − HOA: −$8,400
• − Depreciation: −$7,418
• Taxable loss: −$1,477
• Est. tax savings @ 24.0%: +$354
• After-tax cash flow: $2,157/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 — Hallandale Beach

• Score: 81/100
• State rank: #86
• US rank: #1400

Category grades

Amenities B Commute A+ Cost of living B+ Crime B+ Employment D- Housing B+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hallandale Beach, FL
• County: Broward County · 1,963,430 people
• City population: 44,021
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 44,502
• Household income: $52,079
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 3293.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 39% White 39% Two or more races 24% Black 17% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 9% Dominican 3% Salvadoran 2%
• Common ancestry: Scotch-Irish 5% Hispanic 5% Subsaharan African 3%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 38% English-only · Spanish 36% Russian/Polish/Slavic 12% French/Haitian/Cajun 7%

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: ▼ -299.13%
• Current HPI: 329.9081
• Rent YoY: ▲ 0.43%
• 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

1 event — show timeline

• 2025-12-11 Listed $255,000 Beaches MLS

Property tax history

+8.3%/yr

Latest (2025): $4,898 · +0.7% YoY. Source: county tax records.