3850 Washington St #510 · Hollywood, FL 33021

$169,900

2 bd · 2.0 ba · 1,296 sqft · Condo public records · 437 Days on market

Built 1980 $721/mo HOA · 24% 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 +28.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LUXURY LAKESIDE LIVING IN THE HIGHLY SOUGHT AFTER HILLCREST BUILDING 27. THIS SPACIOUS, NEWLY PAINTED, SUNLIT 2-BED, 2-BATH CONDO WITH LAKE VIEWS FROM EVERY ROOM IN THIS UPGRADED 55+ COMMUNITY. ENJOY AN OPEN FLOOR PLAN WITH A HUGE LIVING ROOM OVERLOOKING LARGE ENCLOSED BALCONY WITH DOUBLE OPENING SLIDING GLASS DOORS. STUNNING LAKE VIEWS, PREMIUM FINISHES, AND STAINLESS-STEEL APPLIANCES. THE UNIT IS CONVENIENTLY LOCATED ACROSS FROM THE ELEVATOR AND LAUNDRY ROOM. THIS WELL-MAINTAINED BUILDING FEATURES FIRE SPRINKLERS, COMPLETED 40-YEAR SAFETY INSPECTION, 24/7 SECURITY, 20% DOWN REQUIRED, NO LEASING, CATS ONLY. HOA INCLUDES CABLE, WATER AND TRASH DISPOSAL. RESORT-STYLE AMENITIES INCLUDING HEAT

Key facts

• Open floor plan
• Enclosed balcony
• Lake views

Tags

• LAKESIDE LIVING
• LAKE VIEWS
• OPEN FLOOR PLAN
• HUGE LIVING ROOM
• ENCLOSED BALCONY
• PREMIUM FINISHES

Property features AI

Finance

• Other: Pets allowed (cats only); Senior community
• HOA & community: Monthly HOA with amenities including elevator(s), jogging path, parking, pool, spa/hot tub, trash chute, and bike storage; HOA fee covers cable TV, grounds maintenance, pest control, security, trash, water, and common areas

Exterior

• Parking: Assigned parking space; 1 open parking space
• Security: Smoke detectors; Security system; Attended lobby
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 12-story building; East-facing
• Construction: CBS construction
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Blinds on windows; Partially furnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.2% in Hollywood — 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 76/100 on livability (#232 in FL, #3,548 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime B+; Watch: amenities 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% 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 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 $2,995/mo this rent would consume 50% of the median local household income ($71k/yr) (locally 2151% 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 + 2.4% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 437 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $170k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 437 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.76% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.50%
• DSCR: 1.65
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $7,728
• Equity at exit: $25,333

10-year hold

• IRR: 13.1%
• Equity multiple: 2.02×
• Total profit: $48,419
• Equity at exit: $14,690

Cash invested: $47,572 (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 33021

• Rents YoY: 2.4%
• Active inventory: 543
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,995 high
• Mortgage (P&I): −$891
• Tax from tax record: −$109 /mo · $1,302/yr
• Insurance: −$71
• HOA: −$721
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $575

Break-even live

Break-even rent $2,267

Max offer price $169,900

Occupancy floor 76%

Sensitivity live

Price	-10% $671	-5% $623	+0% $575	+5% $527	+10% $479
Rent	-10% $338	-5% $456	+0% $575	+5% $693	+10% $811
Rate	-1.0pp $660	-0.5pp $618	base $575	+0.5pp $531	+1.0pp $486

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3932 Long Leaf Ln #1 Hollywood, FL	3.0	2.5	1675	$3,400	$2.03	26d	1	0.16mi
839 S Highland Dr Hollywood, FL	2.0	2.0	1748	$3,000	$1.72	26d	1	0.18mi
839 S Highland Dr Hollywood, FL	2.0	2.0	1748	$2,500	$1.43	10d	1	0.18mi
1101 Banyan Dr Hollywood, FL	3.0	2.0	1768	$4,100	$2.32	26d	1	0.20mi
4200 Hillcrest Dr #503 Hollywood, FL	2.0	2.0	1132	$2,300	$2.03	26d	1	0.21mi
632 S Crescent Dr Hollywood, FL	3.0	2.0	1744	$6,500	$3.73	26d	1	0.26mi
632 S Crescent Dr Unit 1533630P Hollywood, FL	3.0	2.0	1743	$7,380	$4.23	10d	1	0.26mi
4209 Jefferson St Unit 4209 Hollywood, FL	3.0	2.0	1697	$7,200	$4.24	4d	1	0.30mi
911 S Park Rd Hollywood, FL	1.0–3.0	1.0–2.0	1123	$2,715	$2.42	1d	25	0.34mi
555 S Luna Ct Hollywood, FL	2.0	2.0	1036	$2,120	$2.05	7d	2	0.35mi
812 S Park Rd Hollywood, FL	1.0–3.0	1.0–2.0	999	$2,353	$2.36	1d	23	0.36mi
919 Hillcrest Dr #303 Hollywood, FL	2.0	2.0	1100	$2,000	$1.82	26d	1	0.37mi
3624 Jackson St Unit 21 Hollywood, FL	2.0	2.0	1100	$1,900	$1.73	5d	1	0.40mi
570 S Park Rd Unit 13-6 Hollywood, FL	2.0	2.0	1060	$2,400	$2.26	26d	1	0.40mi
400 S Luna Ct #2 Hollywood, FL	2.0	1.0	960	$2,300	$2.40	26d	1	0.41mi
640 S Park Rd Unit 34-4 Hollywood, FL	2.0	2.0	1060	$2,250	$2.12	26d	1	0.43mi
530 S Park Rd Hollywood, FL	2.0	2.0	1060	$2,375	$2.24	21d	1	0.43mi
640 S Park Rd Unit 12-4 Hollywood, FL	3.0	2.0	1236	$2,950	$2.39	26d	1	0.43mi
640 S Park Rd Unit 14-4 Hollywood, FL	2.0	2.0	1060	$2,300	$2.17	26d	1	0.43mi
640 S Park Rd Unit 14-4 Hollywood, FL	2.0	2.0	1060	$2,200	$2.08	19d	1	0.43mi
3500 Jackson St Unit 203 Hollywood, FL	2.0	2.0	875	$1,995	$2.28	26d	1	0.44mi
450 S Park Rd Unit 5-307 Hollywood, FL	3.0	2.0	1084	$2,800	$2.58	26d	1	0.47mi
470 S Park Rd Unit 7-307 Hollywood, FL	3.0	2.0	1084	$3,250	$3.00	0d	1	0.47mi
470 S Park Rd Unit 7-307 Hollywood, FL	3.0	2.0	1084	$3,250	$3.00	26d	1	0.47mi
3600 Van Buren St Hollywood, FL	1.0–2.0	1.0–2.0	1055	$2,350	$2.23	1d	5	0.47mi
3501 Jackson St #309 Hollywood, FL	2.0	2.0	1170	$2,500	$2.14	26d	1	0.47mi
460 S Park Rd Unit 6-304 Hollywood, FL	2.0	1.0	918	$1,950	$2.12	7d	1	0.49mi
3601 Van Buren St Hollywood, FL	2.0	2.0	1107	$2,195	$1.98	1d	2	0.51mi
530 S Park Rd Unit 12-11 Hollywood, FL	2.0	2.0	1060	$2,375	$2.24	17d	1	0.51mi
530 S Park Rd Unit 17-11 Hollywood, FL	2.0	2.0	1060	$2,300	$2.17	24d	1	0.51mi
4802 Washington St #5 Hollywood, FL	2.0	2.0	1080	$2,500	$2.31	26d	1	0.61mi
4812 Washington St #7 Hollywood, FL	2.0	2.0	1080	$2,200	$2.04	21d	1	0.63mi
4812 Washington St Unit 147 Hollywood, FL	2.0	2.0	1080	$2,200	$2.04	10d	1	0.63mi
1455 Silk Oak Dr #1455 Hollywood, FL	3.0	2.5	1800	$4,250	$2.36	10d	1	0.64mi
1455 Silk Oak Dr #1455 Hollywood, FL	3.0	2.5	1800	$4,100	$2.28	26d	1	0.64mi
4901 Washington St Hollywood, FL	3.0	3.0	1397	$4,850	$3.47	26d	1	0.65mi
4901 Washington St Hollywood, FL	3.0	3.0	1397	$4,850	$3.47	7d	1	0.65mi
981 Hillcrest Ct #114 Hollywood, FL	2.0	2.0	899	$2,000	$2.22	26d	1	0.65mi
4764 Eucalyptus Dr Hollywood, FL	3.0	2.5	1780	$3,950	$2.22	26d	1	0.65mi
4764 Eucalyptus Dr Hollywood, FL	3.0	2.5	1780	$3,950	$2.22	16d	1	0.65mi

HOA detail condo

• Monthly dues: $721 · $8,652/yr
• Likely covers: watertrashcablesecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $169,900 Active 437 DOM
2. 2026-06-18
   days on market $169,900 Active 434 DOM
3. 2026-06-17
   days on market $169,900 Active 433 DOM
4. 2026-06-16
   days on market $169,900 Active 432 DOM
5. 2026-06-15
   days on market $169,900 Active 431 DOM
6. 2026-06-13
   days on market $169,900 Active 429 DOM
7. 2026-06-09
   days on market $169,900 Active 425 DOM
8. 2026-06-07
   days on market $169,900 Active 423 DOM
9. 2026-06-04
   days on market $169,900 Active 420 DOM
10. 2026-06-03
    days on market $169,900 Active 419 DOM
11. 2026-06-02
    days on market $169,900 Active 418 DOM
12. 2026-06-01
    days on market $169,900 Active 417 DOM
13. 2026-05-31
    days on market $169,900 Active 416 DOM
14. 2026-05-19
    price $169,900
15. 2026-01-23
    price $184,950
16. 2025-12-31
    price $195,000
17. 2025-08-13
    price $205,000
18. 2025-04-10
    listed $225,000 Active
19. 2013-12-02
    soldstatus $75,000 Sold
20. 2013-11-19
    soldstatus $75,000
21. 2013-08-07
    price $83,900
22. 2008-06-09
    soldstatus $80,000
23. 1994-12-06
    soldstatus $53,000
24. 1980-04-01
    soldstatus $61,000

ⓘ 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: $1,302 · $109/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$108/yr (+$9/mo · 8.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $35,939
• − Mortgage interest: −$9,517
• − Property taxes: −$1,302
• − Insurance: −$850
• − Repairs & maintenance: −$2,875
• − Management: −$2,875
• − HOA: −$8,652
• − Depreciation: −$4,943
• Taxable income: $4,925
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $5,714/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 — Hollywood

• Score: 76/100
• State rank: #232
• US rank: #3548

Category grades

Amenities D Commute A+ Cost of living C+ Crime B+ Employment C Housing A+ Health & safety B+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hollywood, FL
• County: Broward County · 1,963,430 people
• City population: 109,079
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,464
• Household income: $71,318
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 2151.0

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 0.65)
• Race & ethnicity: White 45% Hispanic / Latino 37% Two or more races 17% Black 13% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Cuban 10% Dominican 2%
• Common ancestry: Romanian 3% Scotch-Irish 2% Hispanic 2%
• Foreign-born: 35% · Canada, Jamaica, Dominican Republic
• Languages at home: 53% English-only · Spanish 33% French/Haitian/Cajun 4% Russian/Polish/Slavic 2%

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: ▼ -404.28%
• Current HPI: 429.7129
• Rent YoY: ▲ 2.41%
• 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

+178.5% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $169,900 Beaches MLS
• 2026-01-23 Price Changed $184,950 Beaches MLS
• 2025-12-31 Price Changed $195,000 Beaches MLS
• 2025-08-13 Price Changed $205,000 Beaches MLS
• 2025-04-10 Listed $225,000 Beaches MLS
• 2013-12-02 Sold (MLS) $75,000 MARMLS
• 2013-11-19 Sold (Public Records) $75,000 Public Records
• 2013-08-07 Price Changed $83,900 MARMLS
• 2008-06-09 Sold (Public Records) $80,000 Public Records
• 1994-12-06 Sold (Public Records) $53,000 Public Records
• 1980-04-01 Sold (Public Records) $61,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,302 · +3.9% YoY. Source: county tax records.