215 SE 3rd Ave Unit 407B · Hallandale Beach, FL 33009

$179,000

2 bd · 2.0 ba · 1,028 sqft · Condo public records · 193 Days on market

Built 1968 $815/mo HOA · 24% of rent

---

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 +28.3/30.0
• 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

* * * * SPACIOUS 2 BEDROOM 2 BATH CONDO * CORNER UNIT * EAT-IN KITCHEN * LARGE LIVING ROOM & DINING AREA & LARGE BEDROOMS * BIG ENCLOSED BALCONY WITH SHUTTERS * GULFSTREAM GARDENS IS A 55+ COMMUNITY IN AN EXCELLENT LOCATION AND IT OFFERS A CLUBHOUSE, SUNDECK, BBQ * CLOSE TO WONDERFUL AVENTURA MALL, CLOSE TO WORLD FAMOUS GULFSTREAM RACETRACK AND CASINO, DINING, SHOPPING AND NIGHTLIFE. 5 MINUTES TO MARVELOUS HALLANDALE BEACH ! AMAZING CONDO FOR YEAR ROUND LIVING OR FOR SNOWBIRDS TO ENJOY IN THE WINTER !!

Key facts

• Bbq
• Clubhouse
• Big enclosed balcony

Tags

• CORNER UNIT
• EAT-IN KITCHEN
• BIG ENCLOSED BALCONY
• CLUBHOUSE
• SUNDECK
• BBQ

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fee of $815; Association fee covers amenities, common areas, cable TV, laundry, structural maintenance, parking, sewer, trash, and water; Community amenities include clubhouse, laundry facilities, pool, trash service, and elevators; Senior community

Exterior

• Parking: Guest parking; One assigned space
• Security: Secured lobby
• Utilities: Cable available
• Home design: Attached property; Entry on level 2; 5-story building
• Construction: Block construction; Resale property
• Exterior features: Balcony; Courtyard; Screened balcony/porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Breakfast area / eat-in kitchen
• Bedrooms: Bedroom on main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Bedroom on main level; Breakfast area; Eat-in kitchen; Combined living/dining room; Tub with shower
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% 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: 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); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 1380 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,360/mo this rent would consume 77% 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.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 9844% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $49k; list at $179k implies a 265% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 24% of rent.
• 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 $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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 1968 — 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: 1.88% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.68%
• DSCR: 1.61
• GRM: 4.4

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: -16.1%
• Equity multiple: 0.45×
• Total profit: $-27,426
• Equity at exit: $26,689

10-year hold

• IRR: -20.6%
• Equity multiple: 0.17×
• Total profit: $-41,646
• Equity at exit: $15,477

Cash invested: $50,120 (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: 4.4×

Monthly cashflow live

• Estimated rent: $3,360 high
• Mortgage (P&I): −$939
• Tax from tax record: −$255 /mo · $3,056/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$815
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $145

Break-even live

Break-even rent $3,177

Max offer price $179,000

Occupancy floor 91%

Sensitivity live

Price	-10% $246	-5% $195	+0% $145	+5% $94	+10% $43
Rent	-10% $-121	-5% $12	+0% $145	+5% $277	+10% $410
Rate	-1.0pp $235	-0.5pp $190	base $145	+0.5pp $98	+1.0pp $51

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 SE 4th St #3 Hallandale Beach, FL	3.0	2.5	1290	$3,950	$3.06	26d	1	0.14mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	26d	5	0.19mi
90 SW 3rd St Unit 2400 Hallandale Beach, FL	2.0	2.0	1079	$3,700	$3.43	26d	1	0.27mi
110 N Federal Hwy #1401 Hallandale Beach, FL	2.0	2.0	1220	$3,999	$3.28	9d	1	0.33mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$2,765	$2.84	16d	48	0.48mi
707 SW 3rd Ave Hallandale Beach, FL	3.0	2.0	1369	$5,500	$4.02	6d	1	0.52mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$5,453	$6.46	5d	2	0.54mi
223 SW 10th St Hallandale Beach, FL	3.0	3.0	1289	$3,900	$3.03	26d	1	0.69mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	13d	1	0.73mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	7d	1	0.73mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	26d	1	0.73mi
644 SW 7th Ct Hallandale Beach, FL	3.0	2.0	1492	$3,800	$2.55	4d	1	0.77mi
1124 NE 7th St Hallandale Beach, FL	3.0	2.0	1320	$3,900	$2.95	23d	1	0.86mi
829 SW 1st St Hallandale Beach, FL	2.0	2.0	850	$1,985	$2.34	26d	1	0.91mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$3,472	$3.45	0d	63	0.92mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	16d	1	0.97mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	26d	1	0.97mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	26d	1	0.97mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	26d	1	0.97mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	26d	1	0.97mi
220 SW 9th Ave #516 Hallandale Beach, FL	2.0	2.0	918	$2,200	$2.40	26d	1	0.99mi
1001 NE 10th St Unit 2 Hallandale Beach, FL	3.0	2.0	1270	$3,600	$2.83	26d	1	1.00mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$2,200	$2.85	22d	2	1.00mi
839 SW 8th St #1 Hallandale Beach, FL	2.0	1.5	1300	$1,500	$1.15	23d	1	1.02mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	26d	1	1.09mi
1033 SW 3rd St Hallandale Beach, FL	2.0	1.0	875	$2,800	$3.20	26d	1	1.11mi
1056 SW 2nd St Unit 1056 Hallandale Beach, FL	3.0	2.0	1000	$3,300	$3.30	26d	1	1.15mi
401 SW 10th Ter Unit A Hallandale Beach, FL	2.0	1.0	1200	$2,400	$2.00	22d	1	1.18mi
1528 Wiley St Hollywood, FL	2.0	1.0	1488	$4,100	$2.76	26d	1	1.22mi
852 NW 8th St #852 Hallandale Beach, FL	3.0	2.0	1170	$2,800	$2.39	23d	1	1.23mi
322 SW 11th Ave Hallandale Beach, FL	3.0	1.0	1200	$2,699	$2.25	26d	1	1.25mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	26d	1	1.26mi
832 NW 10th St Unit 1 Hallandale Beach, FL	2.0	1.0	800	$1,800	$2.25	26d	1	1.27mi
841 NW 10th St Hallandale Beach, FL	3.0	2.0	1485	$3,100	$2.09	9d	1	1.30mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	26d	1	1.35mi
2602 E Hallandale Beach Blvd Unit 1227270P Hallandale Beach, FL	2.0	1.0–2.0	640	$4,219	$6.59	0d	3	1.38mi
920 SW 11th Ave Unit 11D Hallandale Beach, FL	2.0	1.0	848	$1,695	$2.00	26d	1	1.38mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$4,219	$5.00	3d	2	1.39mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	22d	4	1.39mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	26d	3	1.39mi

HOA detail condo

• Monthly dues: $815 · $9,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $179,000 Active 193 DOM
2. 2026-06-18
   days on market $179,000 Active 190 DOM
3. 2026-06-17
   days on market $179,000 Active 189 DOM
4. 2026-06-16
   days on market $179,000 Active 188 DOM
5. 2026-06-15
   days on market $179,000 Active 187 DOM
6. 2026-06-13
   days on market $179,000 Active 185 DOM
7. 2026-06-09
   days on market $179,000 Active 181 DOM
8. 2026-06-07
   days on market $179,000 Active 179 DOM
9. 2026-06-04
   days on market $179,000 Active 176 DOM
10. 2026-06-03
    days on market $179,000 Active 175 DOM
11. 2026-06-02
    days on market $179,000 Active 174 DOM
12. 2026-06-01
    days on market $179,000 Active 173 DOM
13. 2026-05-31
    days on market $179,000 Active 172 DOM
14. 2026-03-14
    historical $1,800
15. 2025-12-11
    listed $1,800
16. 2025-12-09
    listed $179,000 Active
17. 2025-10-03
    historical
18. 2024-10-25
    historical $1,700
19. 2024-09-12
    listed $1,700
20. 2024-09-11
    listed $179,000 Active
21. 2024-09-10
    historical $1,700
22. 2024-08-06
    historical
23. 2024-07-03
    price $1,700
24. 2024-06-27
    price $179,000
25. 2024-03-09
    listed $1,800
26. 2024-02-28
    listed $189,000 Active
27. 1990-06-22
    soldstatus $49,000
28. 1968-10-01
    soldstatus $18,800

ⓘ 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: $3,056 · $255/mo
• Projected year-2 tax: $3,056 · $255/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 · 74% 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: $40,318
• − Mortgage interest: −$10,027
• − Property taxes: −$3,056
• − Insurance: −$6,014
• − Repairs & maintenance: −$3,225
• − Management: −$3,225
• − HOA: −$9,780
• − Depreciation: −$5,207
• Taxable loss: −$217
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $1,789/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

-90.4% since first listed

15 events — show timeline

• 2026-03-14 Rental Removed $1,800 MARMLS
• 2025-12-11 Listed for Rent $1,800 MARMLS
• 2025-12-09 Listed $179,000 MARMLS
• 2025-10-03 Listing Removed — MARMLS
• 2024-10-25 Rental Removed $1,700 MARMLS
• 2024-09-12 Listed for Rent $1,700 MARMLS
• 2024-09-11 Listed $179,000 MARMLS
• 2024-09-10 Rental Removed $1,700 MARMLS
• 2024-08-06 Listing Removed — MARMLS
• 2024-07-03 Price Changed $1,700 MARMLS
• 2024-06-27 Price Changed $179,000 MARMLS
• 2024-03-09 Listed for Rent $1,800 MARMLS
• 2024-02-28 Listed $189,000 MARMLS
• 1990-06-22 Sold (Public Records) $49,000 Public Records
• 1968-10-01 Sold (Public Records) $18,800 Public Records

Property tax history

+6.0%/yr

Latest (2025): $3,056 · -8.4% YoY. Source: county tax records.