1849 S Ocean Drive Dr #1606 · Hallandale Beach, FL 33009

$244,900

1 bd · 1.0 ba · 870 sqft · Condo public records · 115 Days on market

Built 1970 $769/mo HOA · 20% 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 +23.6/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• 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

Motivated Seller offering this oversized, fully furnished 1 Br, 1.5 Ba residence in the newly remodeled South Tower of Plaza Towers. This bright condo offers a comfortable open layout with ample closet space and a generously sized balcony, showcasing ocean views. A wonderful opportunity to enjoy as-is or create your own personalized retreat. Full-service building with pool, fitness center, 24-hour security, and on-site management. Ideally located on the intracoastal and directly across from the beach, just steps from a beautifully renovated park and children's playground. Beautiful View!!! Motivated Seller!!!

Key facts

• Fitness center
• 24-hour security
• Pool

Tags

• GENEROUSLY SIZED BALCONY
• FULL-SERVICE BUILDING
• POOL
• FITNESS CENTER
• 24-HOUR SECURITY
• ON-SITE MANAGEMENT

Property features AI

Finance

• HOA & community: Has association; Monthly HOA fee; Association amenities: Clubhouse, Elevators, Fitness center, Game room, Sauna, Storage, Community room, Internet included

Exterior

• Parking: Garage (1 space, covered)
• Security: Gated with guard; Key card entry; Security system; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; South-facing; 17-story building
• Construction: Concrete construction
• Exterior features: Intracoastal waterfront

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 bedroom (main level)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Furnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $36 ($431/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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.
• Zoned schools: Gulfstream Academy of Hallandale Beach (math 32% / reading 40%, grade F, #1,670 of 2,144 statewide, top 78%, 1,317 students, 73% FRL); Hallandale High School (math 10% / reading 24%, grade F, #597 of 667 statewide, top 90%, 1,104 students, 70% FRL) — zoned schools average 71% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 48% district-wide (-21 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 1380 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 $3,890/mo this rent would consume 90% 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 115 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $245k implies a 390% gain — meaningful room to come down on a strong offer.

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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1970 — 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: 1.59% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 5.2

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: -20.2%
• Equity multiple: 0.32×
• Total profit: $-46,322
• Equity at exit: $36,515

10-year hold

• IRR: -28.8%
• Equity multiple: -0.05×
• Total profit: $-72,023
• Equity at exit: $21,174

Cash invested: $68,572 (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: 1380
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,890 high
• Mortgage (P&I): −$1,284
• Tax from tax record: −$455 /mo · $5,464/yr
• Insurance: −$102
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$769
• Vacancy / Maint / Mgmt: −$817
• Net cashflow: $36

Break-even live

Break-even rent $3,845

Max offer price $244,900

Occupancy floor 94%

Sensitivity live

Price	-10% $175	-5% $105	+0% $36	+5% $-33	+10% $-103
Rent	-10% $-271	-5% $-118	+0% $36	+5% $190	+10% $343
Rate	-1.0pp $159	-0.5pp $98	base $36	+0.5pp $-28	+1.0pp $-92

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	4d	1	0.10mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	25d	1	0.10mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	25d	1	0.10mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	25d	1	0.10mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	25d	1	0.12mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	25d	1	0.12mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	25d	1	0.12mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$3,999	$4.74	3d	1	0.12mi
1830 S Ocean Dr #4709 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	4d	1	0.12mi
1830 S Ocean Dr #4307 Hallandale Beach, FL	1.0	1.0	871	$4,100	$4.71	25d	1	0.12mi
1830 S Ocean Dr #4412 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	8d	1	0.12mi
1830 S Ocean Dr #3112 Hallandale Beach, FL	1.0	1.0	844	$3,700	$4.38	3d	1	0.12mi
1830 S Ocean Dr #2907 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	4d	1	0.12mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	5d	1	0.12mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$4,999	$5.92	21d	1	0.12mi
1830 S Ocean Dr #4112 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	6d	1	0.12mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	15d	1	0.12mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	11d	1	0.12mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	3d	1	0.12mi
1830 S Ocean Dr #4612 Hallandale Beach, FL	1.0	1.0	844	$4,950	$5.86	25d	1	0.12mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	25d	1	0.12mi
1830 S Ocean Dr #4712 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	25d	1	0.12mi
1830 S Ocean Dr #3605 Hallandale Beach, FL	1.0	1.0	811	$4,500	$5.55	4d	1	0.12mi
1830 S Ocean Dr #4309 Hallandale Beach, FL	1.0	1.0	844	$3,900	$4.62	25d	1	0.12mi
1830 S Ocean Dr #4212 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	25d	1	0.12mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	25d	1	0.12mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	2d	1	0.15mi
1800 S Ocean Dr #909 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	25d	1	0.15mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	21d	1	0.15mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	4d	2	0.18mi
4111 S Ocean Dr Unit 1557596P Hollywood, FL	1.0	1.0	796	$5,356	$6.73	8d	1	0.21mi
4111 S Ocean Dr #1810 Hollywood, FL	1.0	1.0	1000	$5,500	$5.50	25d	1	0.21mi
4111 S Ocean Dr Unit 1022181P Hollywood, FL	1.0–2.0	1.0–2.0	968	$4,407	$4.55	17d	2	0.21mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	23d	1	0.21mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	25d	1	0.21mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	25d	1	0.21mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	16d	2	0.21mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	8d	1	0.21mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	4d	1	0.21mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	25d	1	0.22mi

HOA detail condo

• Monthly dues: $769 · $9,228/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-02
   days on market $244,900 Active 115 DOM
2. 2026-06-01
   days on market $244,900 Active 114 DOM
3. 2026-05-31
   days on market $244,900 Active 113 DOM
4. 2026-04-09
   price $244,900
5. 2026-02-07
   listed $265,000 Active
6. 1983-12-01
   soldstatus $50,000

ⓘ 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: $5,464 · $455/mo
• Projected year-2 tax: $5,464 · $455/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 8/10 Severe FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥104°F today · 22 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: $46,680
• − Mortgage interest: −$13,718
• − Property taxes: −$5,464
• − Insurance: −$6,343
• − Repairs & maintenance: −$3,734
• − Management: −$3,734
• − HOA: −$9,228
• − Depreciation: −$7,124
• Taxable loss: −$2,667
• Est. tax savings @ 24.0%: +$640
• After-tax cash flow: $1,071/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

+389.8% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $244,900 Beaches MLS
• 2026-02-07 Listed $265,000 Beaches MLS
• 1983-12-01 Sold (Public Records) $50,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $5,464 · +6.2% YoY. Source: county tax records.