500 Three Islands Blvd · Hallandale Beach, FL 33009

$295,000

1 bd · 1.5 ba · 850 sqft · Other · 100 Days on market

Built 1974

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

Beautifully upgraded 1 bed / 1.5 bath located in well maintain with management on site buildings complex. Olympus Towers is renowned for its lush, resort-style grounds, two pools, full service marina, state-of-the-art fitness center, sauna, tennis courts, and BBQ areas. Situated on desirable Three Islands, the property is within walking distance to the beach, restaurants, and shopping, and just minutes from casinos, Gulfstream Park, Aventura Mall, and Fort Lauderdale Airport. A rare opportunity to enjoy waterfront living, strong building fundamentals, and an unbeatable location.

Key facts

• Full service marina
• Bbq areas
• Upgraded

Tags

• UPGRADED
• RESORT-STYLE GROUNDS
• FULL SERVICE MARINA
• BBQ AREAS
• WALKING DISTANCE TO THE BEACH
• UNBEATABLE LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath other listed at $295k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Recommended offer: $268k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 19d 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 $3,967/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 $9k 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 100 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 3y ago; this cycle's ask is 9733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 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 1974 — 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. 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. 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: 1.34% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• GRM: 6.2

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: -5.0%
• Equity multiple: 0.82×
• Total profit: $-14,896
• Equity at exit: $43,985

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $4,193
• Equity at exit: $25,506

Cash invested: $82,600 (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: 6.2×

Monthly cashflow live

• Estimated rent: $3,967 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $669

Break-even live

Break-even rent $3,121

Max offer price $295,000

Occupancy floor 78%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	24d	1	0.34mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	1d	2	0.45mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	24d	3	0.46mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	20d	4	0.46mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	1d	5	0.46mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	0.46mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	0.46mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	0.46mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$5,000	$4.64	24d	5	0.47mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	24d	1	0.49mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	0.49mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	0.49mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	21d	1	0.49mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	0.49mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	7d	1	0.49mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	3d	2	0.50mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	13d	8	0.51mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	2d	7	0.51mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,900	$3.59	12d	17	0.52mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,600	$3.32	10d	18	0.52mi
3505 S Ocean Dr Unit 1049820P Hollywood, FL	1.0	1.0	785	$4,827	$6.15	2d	1	0.52mi
3801 S Ocean Dr Unit 4R Hollywood, FL	1.0	1.0	812	$3,850	$4.74	24d	1	0.53mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	3d	1	0.55mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	3d	1	0.55mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	24d	1	0.55mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	24d	1	0.55mi
3901 S Ocean Dr Unit 10M Hollywood, FL	1.0	1.0	874	$5,000	$5.72	24d	1	0.55mi
3901 S Ocean Dr Unit 1227197P Hollywood, FL	1.0–2.0	1.0–2.0	1054	$2,727	$2.59	1d	2	0.55mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,800	$3.26	24d	3	0.56mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,000	$2.72	21d	4	0.56mi
4111 S Ocean Dr Unit 1557596P Hollywood, FL	1.0	1.0	796	$5,356	$6.73	7d	1	0.58mi
4111 S Ocean Dr Unit 1022181P Hollywood, FL	1.0–2.0	1.0–2.0	968	$4,407	$4.55	16d	2	0.58mi
4111 S Ocean Dr #1810 Hollywood, FL	1.0	1.0	1000	$5,500	$5.50	24d	1	0.58mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,000	$4.12	7d	7	0.64mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,200	$4.32	14d	7	0.64mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$3,800	$3.91	19d	8	0.64mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,400	$4.53	10d	6	0.64mi
1800 S Ocean Dr #909 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	24d	1	0.65mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	20d	1	0.65mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	1d	1	0.65mi

Listing history 43 events

1. 2026-06-18
   days on market $295,000 Active 100 DOM
2. 2026-06-17
   days on market $295,000 Active 99 DOM
3. 2026-06-16
   days on market $295,000 Active 98 DOM
4. 2026-06-15
   days on market $295,000 Active 97 DOM
5. 2026-06-13
   days on market $295,000 Active 95 DOM
6. 2026-06-09
   days on market $295,000 Active 91 DOM
7. 2026-06-07
   days on market $295,000 Active 89 DOM
8. 2026-06-04
   days on market $295,000 Active 86 DOM
9. 2026-06-03
   days on market $295,000 Active 85 DOM
10. 2026-06-02
    days on market $295,000 Active 84 DOM
11. 2026-06-01
    days on market $295,000 Active 83 DOM
12. 2026-05-31
    days on market $295,000 Active 82 DOM
13. 2026-03-14
    listed $3,000
14. 2026-03-14
    listed $2,200
15. 2026-03-10
    listed $295,000 Active
16. 2026-01-01
    historical $2,200
17. 2025-12-23
    listed $2,200
18. 2025-08-29
    historical $2,250
19. 2025-07-25
    price $2,250
20. 2025-07-15
    price $2,350
21. 2025-07-10
    price $2,390
22. 2025-07-08
    price $2,415
23. 2025-07-03
    listed $2,450
24. 2025-02-01
    historical $2,100
25. 2025-01-28
    listed $2,100
26. 2025-01-21
    historical $2,100
27. 2025-01-18
    historical $2,100
28. 2025-01-18
    historical $2,100
29. 2024-12-23
    listed $2,100
30. 2024-12-20
    listed $2,000
31. 2024-06-04
    historical $3,500
32. 2024-06-02
    listed $3,500
33. 2024-05-26
    historical $3,500
34. 2024-05-24
    listed $3,500
35. 2024-05-22
    historical $3,500
36. 2024-05-20
    listed $3,500
37. 2024-05-19
    historical $3,500
38. 2024-05-17
    listed $3,500
39. 2024-04-23
    historical $3,500
40. 2024-04-18
    listed $3,500
41. 2024-03-23
    listed $3,500
42. 2024-01-19
    historical $2,800
43. 2023-12-19
    listed $2,800

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥104°F today · 18 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: $47,603
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$6,594
• − Repairs & maintenance: −$3,808
• − Management: −$3,808
• − Depreciation: −$8,582
• Taxable income: $3,862
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $7,097/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

+7.1% since first listed

31 events — show timeline

• 2026-03-14 Listed for Rent $3,000 SHOWMOJO
• 2026-03-14 Listed for Rent $2,200 SHOWMOJO
• 2026-03-10 Listed $295,000 ForSaleByOwner.com
• 2026-01-01 Rental Removed $2,200 SHOWMOJO
• 2025-12-23 Listed for Rent $2,200 SHOWMOJO
• 2025-08-29 Rental Removed $2,250 Avail
• 2025-07-25 Price Changed $2,250 Avail
• 2025-07-15 Price Changed $2,350 Avail
• 2025-07-10 Price Changed $2,390 Avail
• 2025-07-08 Price Changed $2,415 Avail
• 2025-07-03 Listed for Rent $2,450 Avail
• 2025-02-01 Rental Removed $2,100 MARMLS
• 2025-01-28 Listed for Rent $2,100 MARMLS
• 2025-01-21 Rental Removed $2,100 MARMLS
• 2025-01-18 Rental Removed $2,100 REALLYO
• 2025-01-18 Rental Removed $2,100 MARMLS
• 2024-12-23 Listed for Rent $2,100 MARMLS
• 2024-12-20 Listed for Rent $2,000 MARMLS
• 2024-06-04 Rental Removed $3,500 REALLYO
• 2024-06-02 Listed for Rent $3,500 REALLYO
• 2024-05-26 Rental Removed $3,500 REALLYO
• 2024-05-24 Listed for Rent $3,500 REALLYO
• 2024-05-22 Rental Removed $3,500 REALLYO
• 2024-05-20 Listed for Rent $3,500 REALLYO
• 2024-05-19 Rental Removed $3,500 REALLYO
• 2024-05-17 Listed for Rent $3,500 REALLYO
• 2024-04-23 Rental Removed $3,500 REALLYO
• 2024-04-18 Listed for Rent $3,500 REALLYO
• 2024-03-23 Listed for Rent $3,500 REALLYO
• 2024-01-19 Rental Removed $2,800 RENT.
• 2023-12-19 Listed for Rent $2,800 RENT.