329 SE 3rd St Unit 402P · Hallandale Beach, FL 33009

$212,000

1 bd · 1.0 ba · 735 sqft · Condo public records · 837 Days on market

Built 1969

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.4/30.0
• 1% rule +4.4/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Renovated 2BR/1BA converted Condo – Overlooking Pool & Clubhouse! Fully renovated and move-in ready! This bright and spacious 2-bedroom, 1-bathroom unit features: Impact windows & sliding glass door Modernized kitchen & bathroom Serene views of the pool and clubhouse Located in a well-maintained 55+ community, just 1 mile west of the beautiful sandy beaches of Hallandale! Conveniently situated near: USPS Police Station City Hall Restaurants Gulfstream Park Shopping I-95 A must-see property! ?? PLEASE NOTE: 24 hours advance notice required for appointments Do not disturb tenant – tenant occupied Community requires a 715+ credit s

Key facts

• Garage
• Community pool
• Built 1969

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee (includes management, amenities, cable TV, insurance, laundry, grounds maintenance, sewer, trash, water); Association amenities: clubhouse, pool, elevator(s); Senior community

Exterior

• Parking: Assigned parking (one space); 1 covered space; 1-car garage
• Security: Key card entry; Lobby secured
• Utilities: Cable available
• Home design: Attached property; Located on entry level 4; Total of 5 stories
• Construction: Block construction; Resale property
• Exterior features: No notable exterior features listed; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Refrigerator
• Bedrooms: Bedroom on main level; Convertible bedroom
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Has cooling
• Interior features: Bedroom on main level; Convertible bedroom; Closet cabinetry; First-floor entry; Walk-in closet(s); Other interior features
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $212k.

Deal economics

• At list price, monthly cash flow is $-460 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (5.8% below list).
• Recommended offer: $187k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.7% vs local median 5.2% in Hallandale Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,996/mo this rent would consume 46% 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 $1k of loan paydown is wiped out by about $6k 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 837 days — a 12% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask is 12748% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $33k; list at $212k implies a 542% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $186,560 (12.0% 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. It's been on market 837 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 3.69%
• Cash-on-cash: -9.29%
• DSCR: 0.59
• GRM: 8.9

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: -37.1%
• Equity multiple: -0.15×
• Total profit: $-68,288
• Equity at exit: $31,610

10-year hold

• IRR: -83.6%
• Equity multiple: -0.94×
• Total profit: $-115,237
• Equity at exit: $18,330

Cash invested: $59,360 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,996 high
• Mortgage (P&I): −$1,112
• Tax from tax record: −$239 /mo · $2,864/yr
• Insurance: −$88
• HOA est. from 2 same-building comps: −$598
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-460

Break-even live

Break-even rent $2,578

Max offer price $130,778

Occupancy floor —

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 14 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	$2,465	$2.92	3d	2	0.50mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	15d	48	0.54mi
820 SW 1st Pl Hallandale Beach, FL	2.0	1.0	430	$1,675	$3.90	24d	1	0.98mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$2,840	$2.82	1d	62	1.00mi
220 SW 9th Ave #219 Hallandale Beach, FL	1.0	1.0	625	$1,550	$2.48	4d	1	1.05mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$1,580	$2.05	20d	2	1.07mi
230 SW 11th Ave #17 Hallandale Beach, FL	1.0	1.0	580	$1,390	$2.40	3d	1	1.30mi
280 SW 11th Ave #5 Hallandale Beach, FL	1.0	1.0	580	$1,475	$2.54	24d	1	1.31mi
340 SW 11th Ave Unit 2A Hallandale Beach, FL	1.0	1.0	466	$1,575	$3.38	11d	1	1.32mi
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	1.34mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	1d	5	1.34mi
836 NW 10th St Unit 4 Hallandale Beach, FL	—	1.0	423	$1,250	$2.96	24d	1	1.37mi
840 NW 10th St Unit 8 Hallandale Beach, FL	1.0	1.0	441	$1,400	$3.17	24d	1	1.37mi
900 SW 11th Ave Unit 17C Hallandale Beach, FL	1.0	1.0	625	$1,600	$2.56	24d	1	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-07
   days on market $212,000 Active 837 DOM
2. 2026-06-04
   days on market $212,000 Active 834 DOM
3. 2026-06-03
   days on market $212,000 Active 833 DOM
4. 2026-06-02
   days on market $212,000 Active 832 DOM
5. 2026-06-01
   days on market $212,000 Active 831 DOM
6. 2026-05-31
   days on market $212,000 Active 830 DOM
7. 2026-02-28
   historical
8. 2025-06-02
   historical $1,650
9. 2025-05-26
   listed $1,650
10. 2025-05-25
    price $212,000
11. 2025-02-04
    listed $227,000 Active
12. 2025-01-30
    price $227,000
13. 2024-02-21
    price $239,000
14. 2024-02-21
    listed $239 Active
15. 2021-05-24
    historical
16. 2020-07-29
    listed $149,000 Active
17. 1996-03-01
    soldstatus $33,000
18. 1969-02-01
    soldstatus $13,700

ⓘ 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: $2,864 · $239/mo
• Projected year-2 tax: $2,864 · $239/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $23,955
• − Mortgage interest: −$11,875
• − Property taxes: −$2,864
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − HOA: −$7,176
• − Depreciation: −$6,167
• Taxable loss: −$9,021
• Est. tax savings @ 24.0%: +$2,165
• After-tax cash flow: $-3,352/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

-88.0% since first listed

12 events — show timeline

• 2026-02-28 Listing Removed — NAPLESMLS
• 2025-06-02 Rental Removed $1,650 MARMLS
• 2025-05-26 Listed for Rent $1,650 MARMLS
• 2025-05-25 Price Changed $212,000 MARMLS
• 2025-02-04 Listed $227,000 NAPLESMLS
• 2025-01-30 Price Changed $227,000 MARMLS
• 2024-02-21 Price Changed $239,000 MARMLS
• 2024-02-21 Listed $239 MARMLS
• 2021-05-24 Listing Removed — MARMLS
• 2020-07-29 Listed $149,000 MARMLS
• 1996-03-01 Sold (Public Records) $33,000 Public Records
• 1969-02-01 Sold (Public Records) $13,700 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,864 · +5.6% YoY. Source: county tax records.