581 Blue Heron Dr Unit 221-B · Hallandale Beach, FL 33009

$240,000

2 bd · 2.0 ba · 1,200 sqft · Condo public records · 66 Days on market

Built 1980 $700/mo HOA · 18% of rent

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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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Exceptional investment opportunity—rent immediately. Renovated and move-in ready condo in Paradise Villas, a 55+ community in Hallandale Beach. This residence features new flooring, a new A/C, and a new water heater (all 2023), delivering comfort and effortless living. Ideally situated just minutes from the beach, fine dining, shopping, and entertainment, this condo offers the perfect blend of location, lifestyle, and long-term value—ideal as a primary residence, seasonal retreat, or income-producing property.

Key facts

• New a/c system
• Updated condo
• New flooring

Tags

• UPDATED CONDO
• NEW FLOORING
• NEW A/C SYSTEM
• NEW WATER HEATER
• PRIME SOUTH FLORIDA LIFESTYLE

Property features AI

Finance

• Other: Association pool
• HOA & community: Monthly association fee; Association amenities: pool, clubhouse, billiard room, library, laundry, barbecue/picnic areas, elevators; Association fee includes maintenance of structure, water, sewer, and trash; 132-unit community; Senior community

Exterior

• Parking: Guest parking; One assigned space
• Security: Secured elevator
• Home design: Attached property; 3 stories; Second-floor entry
• Construction: Block construction; Effective year built
• Exterior features: Barbecue; Enclosed porch; Screened porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Second floor entry; Eat-in kitchen; Elevator; Living/dining room; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 22d 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 $3,938/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 $7k 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 66 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $240k implies a 458% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.43%
• DSCR: 1.60
• GRM: 5.1

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-4,605
• Equity at exit: $35,785

10-year hold

• IRR: 3.8%
• Equity multiple: 1.23×
• Total profit: $15,697
• Equity at exit: $20,751

Cash invested: $67,200 (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 33009

• Rents YoY: 0.4%
• Active inventory: 1373
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,938 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$700
• Vacancy / Maint / Mgmt: −$827
• Net cashflow: $686

Break-even live

Break-even rent $3,070

Max offer price $240,000

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$5,453	$6.46	3d	2	0.26mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	24d	1	0.42mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	14d	1	0.42mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	24d	1	0.42mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	24d	1	0.44mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	24d	1	0.44mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	24d	1	0.48mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	24d	1	0.51mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	24d	1	0.60mi
110 N Federal Hwy #1401 Hallandale Beach, FL	2.0	2.0	1220	$3,999	$3.28	7d	1	0.66mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$4,219	$5.00	1d	2	0.68mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$5,495	$5.44	1d	5	0.69mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	20d	4	0.69mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	24d	3	0.69mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	0.69mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	0.69mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	0.69mi
2017 S Ocean Dr #1107 Hallandale Beach, FL	2.0	2.0	1270	$3,900	$3.07	13d	1	0.73mi
1985 S Ocean Dr Unit 22P Hallandale Beach, FL	2.0	2.0	1380	$4,000	$2.90	24d	1	0.75mi
1985 S Ocean Dr Unit 21P Hallandale Beach, FL	2.0	2.0	1380	$3,800	$2.75	7d	1	0.75mi
1985 S Ocean Dr Unit 9G Hallandale Beach, FL	2.0	2.0	1240	$3,700	$2.98	24d	1	0.75mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	7d	2	0.78mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	12d	2	0.78mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,000	$2.59	14d	3	0.78mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1522	$3,650	$2.40	18d	3	0.78mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	10d	1	0.79mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	24d	1	0.79mi
1124 NE 7th St Hallandale Beach, FL	3.0	2.0	1320	$3,900	$2.95	21d	1	0.79mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	24d	5	0.80mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	5d	1	0.80mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	11d	1	0.80mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	24d	1	0.80mi
211 SE 4th St #3 Hallandale Beach, FL	3.0	2.5	1290	$3,950	$3.06	24d	1	0.81mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$5,897	$6.23	3d	2	0.83mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$7,250	$6.73	24d	5	0.83mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$2,765	$2.84	15d	48	0.84mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	24d	1	0.85mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$4,900	$3.63	14d	1	0.85mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	16d	1	0.85mi
2723 E Hallandale Beach Blvd Unit 1049813P Hollywood, FL	3.0	2.0	1496	$6,498	$4.34	2d	1	0.85mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $240,000 Active 66 DOM
2. 2026-06-17
   days on market $240,000 Active 65 DOM
3. 2026-06-16
   days on market $240,000 Active 64 DOM
4. 2026-06-15
   days on market $240,000 Active 63 DOM
5. 2026-06-13
   days on market $240,000 Active 61 DOM
6. 2026-06-09
   days on market $240,000 Active 57 DOM
7. 2026-06-08
   days on market $240,000 Active 56 DOM
8. 2026-06-07
   days on market $240,000 Active 55 DOM
9. 2026-06-04
   days on market $240,000 Active 52 DOM
10. 2026-06-03
    days on market $240,000 Active 51 DOM
11. 2026-06-02
    days on market $240,000 Active 50 DOM
12. 2026-06-01
    days on market $240,000 Active 49 DOM
13. 2026-05-31
    days on market $240,000 Active 48 DOM
14. 2026-05-11
    price $240,000
15. 2026-04-29
    price $274,000
16. 2026-04-13
    listed $280,000 Active
17. 1994-10-12
    soldstatus $43,000
18. 1985-01-01
    soldstatus $33,000

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 26 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: $47,254
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,997
• − Repairs & maintenance: −$3,780
• − Management: −$3,780
• − HOA: −$8,400
• − Depreciation: −$6,982
• Taxable income: $5,270
• Est. tax owed @ 24.0%: −$1,265
• After-tax cash flow: $6,965/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

+627.3% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $240,000 MARMLS
• 2026-04-29 Price Changed $274,000 MARMLS
• 2026-04-13 Listed $280,000 MARMLS
• 1994-10-12 Sold (Public Records) $43,000 Public Records
• 1985-01-01 Sold (Public Records) $33,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $348 · +0.0% YoY. Source: county tax records.