851 Three Islands Blvd #106 · Hallandale Beach, FL 33009

$173,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 157 Days on market

Built 1975 $541/mo HOA · 14% 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 +30.0/30.0
• 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

GREAT INVESTMENT!!! * * * Beautiful 1BD/1 BATH apartment located in heart of Hallandale Beach * * * Upgraded kitchen and bathroom, tile floors, NEW vinyl flooring in the bedroom, walk-in closet, large bedroom, freshly painted * * * Building offers a heated pool, clubhouse, tennis courts. Located across the street from the park and playground for kids. Less than a mile from the beach. Walking distance to the shopping plazas, restaurants, Walmart, Publix, Starbucks and CVS. GREAT LOCATION! * * CAN BE RENTED RIGHT AWAY AFTER THE CLOSING * * * Currently tenant occupied UNTIL October 25, 2026 ($1,750/month)

Key facts

• Clubhouse
• Upgraded kitchen
• Tennis courts

Tags

• UPGRADED KITCHEN
• HEATED POOL
• CLUBHOUSE
• TENNIS COURTS
• ACROSS THE STREET FROM PARK

Property features AI

Finance

• Other: Association-managed pool
• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, cable TV, hot water, parking, pool(s), sewer, trash, and water; Community amenities include clubhouse, elevators, pool, and tennis courts

Exterior

• Parking: Assigned parking (1 space); Covered parking (1 space); 1-car garage
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors
• Utilities: Cable available
• Home design: Condo/Apartment (5-story building); Entry on level 1
• Construction: Block construction
• Exterior features: Balcony; Open balcony/patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen island; Combined living/dining area; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $173k.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $173k).
• Recommended offer: $152k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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 20d 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 $3,953/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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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: 2.28% ✓
• Cap rate: 15.10%
• Cash-on-cash: 31.44%
• DSCR: 2.40
• GRM: 3.6

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: 9.0%
• Equity multiple: 1.34×
• Total profit: $16,400
• Equity at exit: $25,795

10-year hold

• IRR: 14.7%
• Equity multiple: 1.98×
• Total profit: $47,500
• Equity at exit: $14,958

Cash invested: $48,440 (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: 3.6×

Monthly cashflow live

• Estimated rent: $3,953 high
• Mortgage (P&I): −$907
• Tax from tax record: −$333 /mo · $3,999/yr
• Insurance: −$72
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$541
• Vacancy / Maint / Mgmt: −$830
• Net cashflow: $843

Break-even live

Break-even rent $2,886

Max offer price $173,000

Occupancy floor 74%

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: $43,250
• Closing costs: $5,190
• 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	0.52mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,900	$3.59	13d	17	0.58mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,600	$3.32	10d	18	0.58mi
3505 S Ocean Dr Unit 1049820P Hollywood, FL	1.0	1.0	785	$4,827	$6.15	3d	1	0.59mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$3,800	$3.91	19d	8	0.61mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,200	$4.32	14d	7	0.61mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,000	$4.12	8d	7	0.61mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,400	$4.53	10d	6	0.61mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	3d	7	0.66mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	14d	8	0.66mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$5,000	$4.64	24d	5	0.67mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	2d	2	0.67mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	24d	3	0.68mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	21d	4	0.68mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	2d	5	0.68mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	0.68mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	0.68mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	0.68mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	8d	1	0.69mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	0.69mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	24d	1	0.69mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	0.69mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	0.69mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	22d	1	0.69mi
3801 S Ocean Dr Unit 4R Hollywood, FL	1.0	1.0	812	$3,850	$4.74	24d	1	0.69mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	4d	2	0.70mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	4d	1	0.72mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	4d	1	0.72mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	24d	1	0.72mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	24d	1	0.72mi
3901 S Ocean Dr Unit 1227197P Hollywood, FL	1.0–2.0	1.0–2.0	1054	$2,727	$2.59	2d	2	0.72mi
3901 S Ocean Dr Unit 10M Hollywood, FL	1.0	1.0	874	$5,000	$5.72	24d	1	0.72mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,000	$2.72	22d	4	0.74mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,800	$3.26	24d	3	0.74mi
4111 S Ocean Dr Unit 1557596P Hollywood, FL	1.0	1.0	796	$5,356	$6.73	8d	1	0.77mi
4111 S Ocean Dr Unit 1022181P Hollywood, FL	1.0–2.0	1.0–2.0	968	$4,407	$4.55	17d	2	0.77mi
4111 S Ocean Dr #1810 Hollywood, FL	1.0	1.0	1000	$5,500	$5.50	24d	1	0.77mi
1800 S Ocean Dr #909 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	24d	1	0.84mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	21d	1	0.84mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	2d	1	0.84mi

HOA detail condo

• Monthly dues: $541 · $6,492/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-18
   days on market $173,000 Active 157 DOM
2. 2026-06-17
   days on market $173,000 Active 156 DOM
3. 2026-06-16
   days on market $173,000 Active 155 DOM
4. 2026-06-15
   remarks 620-char remark
5. 2026-06-15
   days on market $173,000 Active 154 DOM
6. 2026-06-13
   days on market $173,000 Active 152 DOM
7. 2026-06-09
   days on market $173,000 Active 148 DOM
8. 2026-06-07
   days on market $173,000 Active 146 DOM
9. 2026-06-04
   days on market $173,000 Active 143 DOM
10. 2026-06-03
    days on market $173,000 Active 142 DOM
11. 2026-06-02
    days on market $173,000 Active 141 DOM
12. 2026-06-01
    days on market $173,000 Active 140 DOM
13. 2026-05-31
    days on market $173,000 Active 139 DOM
14. 2026-04-28
    price $173,000
15. 2026-04-10
    price $170,000
16. 2026-03-03
    price $179,000
17. 2026-01-12
    listed $183,000 Active
18. 2025-12-11
    historical
19. 2025-09-23
    price $195,000
20. 2025-04-19
    historical $1,750
21. 2025-03-25
    price $1,750
22. 2025-03-24
    price $199,000
23. 2025-03-21
    price $1,850
24. 2025-03-05
    price $209,000
25. 2025-02-14
    price $214,000
26. 2025-02-01
    listed $1,950
27. 2025-01-07
    historical $1,950
28. 2025-01-02
    listed $219,000 Active
29. 2024-12-27
    listed $1,950
30. 2023-09-05
    status Active
31. 2023-05-30
    listed $248,000 Active
32. 2022-04-14
    soldstatus $195,000
33. 2018-08-21
    soldstatus $142,000
34. 2018-07-13
    soldstatus $142,000 Sold
35. 2018-06-05
    status Pending
36. 2018-03-28
    price $149,500
37. 2017-11-07
    listed $165,000 Active
38. 2013-12-09
    historical
39. 2013-09-04
    listed $150,000 Active
40. 2011-07-05
    soldstatus $62,000
41. 2002-08-21
    soldstatus $83,900
42. 1994-11-04
    soldstatus $32,000

ⓘ 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: $3,999 · $333/mo
• Projected year-2 tax: $3,999 · $333/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 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $47,436
• − Mortgage interest: −$9,691
• − Property taxes: −$3,999
• − Insurance: −$5,984
• − Repairs & maintenance: −$3,795
• − Management: −$3,795
• − HOA: −$6,492
• − Depreciation: −$5,033
• Taxable income: $8,648
• Est. tax owed @ 24.0%: −$2,075
• After-tax cash flow: $8,037/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

+440.6% since first listed

29 events — show timeline

• 2026-04-28 Price Changed $173,000 MARMLS
• 2026-04-10 Price Changed $170,000 MARMLS
• 2026-03-03 Price Changed $179,000 MARMLS
• 2026-01-12 Listed $183,000 MARMLS
• 2025-12-11 Listing Removed — MARMLS
• 2025-09-23 Price Changed $195,000 MARMLS
• 2025-04-19 Rental Removed $1,750 MARMLS
• 2025-03-25 Price Changed $1,750 MARMLS
• 2025-03-24 Price Changed $199,000 MARMLS
• 2025-03-21 Price Changed $1,850 MARMLS
• 2025-03-05 Price Changed $209,000 MARMLS
• 2025-02-14 Price Changed $214,000 MARMLS
• 2025-02-01 Listed for Rent $1,950 MARMLS
• 2025-01-07 Rental Removed $1,950 MARMLS
• 2025-01-02 Listed $219,000 MARMLS
• 2024-12-27 Listed for Rent $1,950 MARMLS
• 2023-09-05 Relisted — MARMLS
• 2023-05-30 Listed $248,000 MARMLS
• 2022-04-14 Sold (Public Records) $195,000 Public Records
• 2018-08-21 Sold (Public Records) $142,000 Public Records
• 2018-07-13 Sold (MLS) $142,000 MARMLS
• 2018-06-05 Pending — MARMLS
• 2018-03-28 Price Changed $149,500 MARMLS
• 2017-11-07 Listed $165,000 MARMLS
• 2013-12-09 Listing Removed — MARMLS
• 2013-09-04 Listed $150,000 MARMLS
• 2011-07-05 Sold (MLS) $62,000 MARMLS
• 2002-08-21 Sold (Public Records) $83,900 Public Records
• 1994-11-04 Sold (Public Records) $32,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $3,999 · -5.8% YoY. Source: county tax records.