600 Three Islands Blvd #607 · Hallandale Beach, FL 33009

$220,000

2 bd · 2.0 ba · 1,400 sqft · Condo public records · 19 Days on market

Built 1975 $1200/mo HOA · 28% 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

REDUCED! The OLYMPUS offers resort-style living. Elegance & comfort in this 2-bedroom, 2-bath condo with a private office/den. Designed with gleaming wood floors, recessed lighting in the kitchen, and updated cabinets, relatively new appliances, every detail reflects sophistication & style. The split floor plan provides abundant closet space. West-facing views of the Diplomat Marina showcase stunning sunsets each evening. This home is truly move-in ready, offering a refined lifestyle in one of the most desirable waterfront settings. Amenities: Olympic-sized pool & a garden pool, a state-of-the-art gym, sauna, tennis courts, a pickleball court, 1 covered parking space, &

Key facts

• Private office
• Updated cabinets
• West-facing views

Tags

• PRIVATE OFFICE
• WOOD FLOORS
• RECESSED LIGHTING
• UPDATED CABINETS
• ABUNDANT CLOSET SPACE
• WEST-FACING VIEWS

Property features AI

Finance

• Financial info: Pets: Cats allowed (restrictions apply)
• HOA & community: Monthly association fee; Association fee includes management, amenities, common areas, cable TV, laundry, ground and structure maintenance, parking, pest control, reserve fund, sewer, security, trash and water; Community amenities include boat dock, bike storage, fitness center, laundry, barbecue and picnic area, pool, putting green(s), sauna, storage, tennis courts, trash service, transportation service, vehicle wash area and elevators; 1,099 units in the community

Exterior

• Parking: Assigned detached garage parking; Secured garage/parking; Valet available; One covered space (1)
• Security: Doorman; Key card entry; Secured garage/parking
• Utilities: Cable available
• Home design: Condominium / attached property; 18-story building; Entry located on level 6 (unit entry level 6)
• Construction: Block construction
• Exterior features: Balcony; Open balcony/porch; Storm/security shutters; Heated pool; Intracoastal access; Waterfront property; Has a view facing north

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Bedrooms: Bedroom on main level; Convertible bedroom; First floor entry; Main living area entry level
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds and sliding window treatments; Furnishing negotiable; Breakfast area; Living/Dining room; Pantry; Separate shower; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Recommended offer: $217k (1.5% 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: 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 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 $4,238/mo this rent would consume 98% 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 19 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $220k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,700 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.93% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.72%
• DSCR: 1.61
• GRM: 4.3

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: -13.0%
• Equity multiple: 0.55×
• Total profit: $-27,620
• Equity at exit: $32,803

10-year hold

• IRR: -13.9%
• Equity multiple: 0.37×
• Total profit: $-38,781
• Equity at exit: $19,022

Cash invested: $61,600 (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: 4.3×

Monthly cashflow live

• Estimated rent: $4,238 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$199 /mo · $2,382/yr
• Insurance: −$92
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,200
• Vacancy / Maint / Mgmt: −$890
• Net cashflow: $278

Break-even live

Break-even rent $3,887

Max offer price $220,000

Occupancy floor 88%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2500 Parkview Dr #2518 Hallandale Beach, FL	2.0	2.0	1280	$4,000	$3.12	7d	1	0.01mi
2500 Parkview Dr #2518 Hallandale Beach, FL	2.0	2.0	1280	$4,000	$3.12	14d	1	0.01mi
2500 Parkview Dr #1112 Hallandale Beach, FL	2.0	2.0	1580	$3,800	$2.41	24d	1	0.01mi
2753 S Parkview Dr Hallandale Beach, FL	2.0	2.0	1680	$3,699	$2.20	17d	1	0.14mi
513 Leslie Dr #513 Hallandale Beach, FL	3.0	2.0	1624	$5,250	$3.23	24d	1	0.16mi
523 Leslie Dr Hallandale Beach, FL	3.0	2.0	1624	$4,950	$3.05	24d	1	0.17mi
825 NE 26th Ave Hallandale Beach, FL	3.0	2.0	1844	$4,200	$2.28	24d	1	0.20mi
3800 S Ocean Dr #1818 Hollywood, FL	2.0	2.0	1270	$4,200	$3.31	7d	1	0.41mi
3800 S Ocean Dr #1818 Hollywood, FL	2.0	2.0	1270	$3,800	$2.99	5d	1	0.41mi
3800 S Ocean Dr Hollywood, FL	2.0	2.0	1302	$3,750	$2.88	4d	3	0.42mi
3800 S Ocean Dr Hollywood, FL	2.0	2.0	1301	$3,775	$2.90	5d	2	0.42mi
1529 Shoreline Way #1529 Hollywood, FL	3.0	2.0	1784	$7,500	$4.20	1d	1	0.43mi
1529 Shoreline Way #1529 Hollywood, FL	3.0	2.5	1784	$7,750	$4.34	12d	1	0.43mi
1529 Shoreline Way Hollywood, FL	3.0	2.5	1784	$7,500	$4.20	7d	1	0.43mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$6,500	$5.99	10d	18	0.45mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$6,500	$5.99	12d	17	0.45mi
3101 S Ocean Dr #1904 Hollywood, FL	2.0	2.5	1733	$5,500	$3.17	22d	1	0.45mi
3101 S Ocean Dr #1504 Hollywood, FL	2.0	2.5	1733	$7,500	$4.33	24d	1	0.45mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	2d	7	0.48mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	14d	8	0.48mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1454	$4,000	$2.75	24d	6	0.48mi
3725 S Ocean Dr Unit 1339235P Hollywood, FL	2.0	2.0	1248	$5,429	$4.35	3d	1	0.48mi
3001 S Ocean Dr #1211 Hollywood, FL	2.0	2.0	1208	$4,750	$3.93	24d	1	0.48mi
3001 S Ocean Dr #1211 Hollywood, FL	2.0	2.0	1208	$4,750	$3.93	7d	1	0.48mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	24d	1	0.48mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	24d	1	0.48mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$7,250	$6.73	24d	5	0.48mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$4,219	$5.00	2d	2	0.50mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	15d	1	0.50mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	24d	1	0.50mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	24d	1	0.50mi
2751 S Ocean Dr Unit 508S Hollywood, FL	3.0	2.5	1868	$5,300	$2.84	17d	1	0.50mi
2751 S Ocean Dr Unit 508S Hollywood, FL	3.0	2.5	1868	$5,300	$2.84	7d	1	0.50mi
2751 S Ocean Dr Unit 1705 Hollywood, FL	2.0	2.0	1360	$5,000	$3.68	7d	1	0.50mi
4010 S Ocean Dr Unit R504 Hollywood, FL	3.0	2.0	1122	$10,000	$8.91	24d	1	0.50mi
4010 S Ocean Dr Unit R1108 Hollywood, FL	3.0	2.5	1361	$12,999	$9.55	24d	1	0.50mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	0.50mi
4010 S Ocean Dr Unit T3708 Hollywood, FL	3.0	2.5	1361	$8,000	$5.88	24d	1	0.50mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	0.50mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	0.50mi

HOA detail condo

• Monthly dues: $1,200 · $14,400/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-01
   statusdays on market $220,000 Pending 19 DOM
2. 2026-05-31
   days on market $220,000 Active 18 DOM
3. 2026-05-13
   listed $245,000 Active
4. 2026-05-02
   historical
5. 2026-04-02
   price $245,000
6. 2026-03-02
   listed $290,000 Active
7. 2026-03-01
   historical
8. 2026-02-18
   price $290,000
9. 2025-09-01
   listed $330,000 Active
10. 2001-01-25
    soldstatus $100,000
11. 1990-04-12
    soldstatus $77,500

ⓘ 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: $2,382 · $199/mo
• Projected year-2 tax: $2,382 · $199/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 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: $50,860
• − Mortgage interest: −$12,323
• − Property taxes: −$2,382
• − Insurance: −$6,218
• − Repairs & maintenance: −$4,069
• − Management: −$4,069
• − HOA: −$14,400
• − Depreciation: −$6,400
• Taxable income: $999
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $3,095/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

+216.1% since first listed

9 events — show timeline

• 2026-05-13 Listed $245,000 MARMLS
• 2026-05-02 Listing Removed — MARMLS
• 2026-04-02 Price Changed $245,000 MARMLS
• 2026-03-02 Listed $290,000 MARMLS
• 2026-03-01 Listing Removed — MARMLS
• 2026-02-18 Price Changed $290,000 MARMLS
• 2025-09-01 Listed $330,000 MARMLS
• 2001-01-25 Sold (Public Records) $100,000 Public Records
• 1990-04-12 Sold (Public Records) $77,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,382 · +1.5% YoY. Source: county tax records.