1849 S Ocean Dr #1405 · Hallandale Beach, FL 33009

$249,000

1 bd · 1.0 ba · 870 sqft · Condo public records · 192 Days on market

Built 1971 $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 +23.3/30.0
• 1% rule +10.0/10.0
• DSCR +7.5/10.0
• 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

This bright and comfortable residence offers the perfect coastal lifestyle — just steps from the ocean. The unit features a spacious living room, a stylish bedroom, a large functional kitchen, and an updated bathroom. A brand-new air conditioning system has recently been installed, adding comfort and efficiency. Residents enjoy resort-style amenities, including a heated pool, sauna, fitness center, club/social room, and direct Intracoastal access. The building offers great maintenance and security, and is conveniently located near top dining, shopping, recreation, and major transportation routes. Community rules permit annual rentals only, subject to association approval. This is a fa

Key facts

• Fitness center
• Sauna
• Updated bathroom

Tags

• PLAZA TOWERS SOUTH CONDOMINIUM
• UPDATED BATHROOM
• RESORT-STYLE AMENITIES
• HEATED POOL
• SAUNA
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional/no)
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, cable TV, insurance, laundry, grounds maintenance, structure maintenance, and security; Community amenities include clubhouse, fitness center, laundry, pool, sauna, storage, tennis courts, trash service, vehicle wash area, and elevators

Exterior

• Parking: Assigned parking (one covered space); 1-car carport
• Security: Complex fenced; Doorman; Elevator secured; Key card entry
• Utilities: Association pool (heated)
• Home design: Attached property; 17-story building; Entry on level 14; Resale unit
• Construction: Block construction
• Exterior features: Fence; Has view

Interior

• Bedrooms: Bedroom located on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Bedroom on main level; Elevator; Other
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $27 ($329/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 21d 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 192 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $249k implies a 149% 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 $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1971 — 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: 1.56% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 5.3

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: -20.4%
• Equity multiple: 0.32×
• Total profit: $-47,540
• Equity at exit: $37,127

10-year hold

• IRR: -29.0%
• Equity multiple: -0.06×
• Total profit: $-73,830
• Equity at exit: $21,529

Cash invested: $69,720 (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: 5.3×

Monthly cashflow live

• Estimated rent: $3,890 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$441 /mo · $5,288/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$769
• Vacancy / Maint / Mgmt: −$817
• Net cashflow: $27

Break-even live

Break-even rent $3,855

Max offer price $249,000

Occupancy floor 94%

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: $62,250
• Closing costs: $7,470
• 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	3d	1	0.10mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	24d	1	0.10mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	24d	1	0.10mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	24d	1	0.10mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	24d	1	0.12mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	24d	1	0.12mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	24d	1	0.12mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$3,999	$4.74	2d	1	0.12mi
1830 S Ocean Dr #4709 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	3d	1	0.12mi
1830 S Ocean Dr #4307 Hallandale Beach, FL	1.0	1.0	871	$4,100	$4.71	24d	1	0.12mi
1830 S Ocean Dr #4412 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	7d	1	0.12mi
1830 S Ocean Dr #3112 Hallandale Beach, FL	1.0	1.0	844	$3,700	$4.38	2d	1	0.12mi
1830 S Ocean Dr #2907 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	3d	1	0.12mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	4d	1	0.12mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$4,999	$5.92	20d	1	0.12mi
1830 S Ocean Dr #4112 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	5d	1	0.12mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	14d	1	0.12mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	10d	1	0.12mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	2d	1	0.12mi
1830 S Ocean Dr #4612 Hallandale Beach, FL	1.0	1.0	844	$4,950	$5.86	24d	1	0.12mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	24d	1	0.12mi
1830 S Ocean Dr #4712 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	24d	1	0.12mi
1830 S Ocean Dr #3605 Hallandale Beach, FL	1.0	1.0	811	$4,500	$5.55	3d	1	0.12mi
1830 S Ocean Dr #4309 Hallandale Beach, FL	1.0	1.0	844	$3,900	$4.62	24d	1	0.12mi
1830 S Ocean Dr #4212 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	24d	1	0.12mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	24d	1	0.12mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	1d	1	0.15mi
1800 S Ocean Dr #909 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	24d	1	0.15mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	20d	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	3d	2	0.18mi
4111 S Ocean Dr Unit 1557596P Hollywood, FL	1.0	1.0	796	$5,356	$6.73	7d	1	0.21mi
4111 S Ocean Dr #1810 Hollywood, FL	1.0	1.0	1000	$5,500	$5.50	24d	1	0.21mi
4111 S Ocean Dr Unit 1022181P Hollywood, FL	1.0–2.0	1.0–2.0	968	$4,407	$4.55	16d	2	0.21mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	22d	1	0.21mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	24d	1	0.21mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	0.21mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	0.21mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	7d	1	0.21mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	0.21mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	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 23 events

1. 2026-06-18
   days on market $249,000 Active 192 DOM
2. 2026-06-17
   days on market $249,000 Active 191 DOM
3. 2026-06-16
   days on market $249,000 Active 190 DOM
4. 2026-06-15
   days on market $249,000 Active 189 DOM
5. 2026-06-13
   days on market $249,000 Active 187 DOM
6. 2026-06-09
   days on market $249,000 Active 183 DOM
7. 2026-06-07
   days on market $249,000 Active 181 DOM
8. 2026-06-04
   days on market $249,000 Active 178 DOM
9. 2026-06-03
   days on market $249,000 Active 177 DOM
10. 2026-06-02
    days on market $249,000 Active 176 DOM
11. 2026-06-01
    days on market $249,000 Active 175 DOM
12. 2026-05-31
    days on market $249,000 Active 174 DOM
13. 2026-03-16
    price $249,000
14. 2026-01-12
    price $259,000
15. 2025-12-09
    historical $2,400
16. 2025-12-08
    listed $269,000 Active
17. 2025-11-05
    listed $2,400
18. 2025-11-04
    listed $2,400 Active
19. 2025-11-04
    historical
20. 2010-02-03
    soldstatus $100,000
21. 2002-12-11
    soldstatus $129,000
22. 2001-03-05
    soldstatus $66,500
23. 1972-01-01
    soldstatus $25,000

ⓘ 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: $5,288 · $441/mo
• Projected year-2 tax: $5,288 · $441/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: −$13,948
• − Property taxes: −$5,288
• − Insurance: −$6,364
• − Repairs & maintenance: −$3,734
• − Management: −$3,734
• − HOA: −$9,228
• − Depreciation: −$7,244
• Taxable loss: −$2,860
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $1,015/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

+896.0% since first listed

11 events — show timeline

• 2026-03-16 Price Changed $249,000 MARMLS
• 2026-01-12 Price Changed $259,000 MARMLS
• 2025-12-09 Rental Removed $2,400 MARMLS
• 2025-12-08 Listed $269,000 MARMLS
• 2025-11-05 Listed for Rent $2,400 MARMLS
• 2025-11-04 Listing Removed — MARMLS
• 2025-11-04 Listed $2,400 MARMLS
• 2010-02-03 Sold (Public Records) $100,000 Public Records
• 2002-12-11 Sold (Public Records) $129,000 Public Records
• 2001-03-05 Sold (Public Records) $66,500 Public Records
• 1972-01-01 Sold (Public Records) $25,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $5,288 · +6.2% YoY. Source: county tax records.