1891 S Ocean Dr #207 · Hallandale Beach, FL 33009

$225,000

1 bd · 1.0 ba · 641 sqft · Condo public records · 99 Days on market

Built 1967 $362/mo HOA · 12% 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 +21.6/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 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

Key facts

• $362 HOA
• Built 1967
• Listed 98 days

Property features AI

Finance

• HOA & community: Has association; Monthly HOA fee of 362 (includes common areas); Association amenities: Clubhouse, Maintenance

Exterior

• Parking: Assigned parking; Guest parking
• Security: Other security features
• Utilities: Has heating and cooling (electric)
• Home design: Condominium; Resale condition; Faces south; 5-story building
• Construction: CBS construction
• Exterior features: Waterfront - Intracoastal with fixed bridge

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• 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 $225k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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); 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; 1373 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $2,951/mo this rent would consume 68% 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 99 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $225k implies a 275% gain — meaningful room to come down on a strong offer.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.31% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.53%
• DSCR: 1.29
• GRM: 6.4

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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-21,749
• Equity at exit: $33,548

10-year hold

• IRR: -5.3%
• Equity multiple: 0.71×
• Total profit: $-18,550
• Equity at exit: $19,454

Cash invested: $63,000 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,951 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$353 /mo · $4,230/yr
• Insurance: −$94
• HOA: −$362
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $343

Break-even live

Break-even rent $2,517

Max offer price $225,000

Occupancy floor 83%

Sensitivity live

Price	-10% $470	-5% $407	+0% $343	+5% $279	+10% $216
Rent	-10% $110	-5% $226	+0% $343	+5% $459	+10% $576
Rate	-1.0pp $456	-0.5pp $400	base $343	+0.5pp $285	+1.0pp $225

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	2d	5	0.29mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	2d	2	0.30mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	4d	2	0.97mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,200	$4.32	15d	7	1.07mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,400	$4.53	11d	6	1.07mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,000	$4.12	8d	7	1.07mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$3,800	$3.91	20d	8	1.07mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	16d	48	1.49mi

HOA detail condo

• Monthly dues: $362 · $4,344/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $225,000 Active 99 DOM
2. 2026-06-17
   days on market $225,000 Active 98 DOM
3. 2026-06-16
   days on market $225,000 Active 97 DOM
4. 2026-06-15
   days on market $225,000 Active 96 DOM
5. 2026-06-13
   days on market $225,000 Active 94 DOM
6. 2026-06-09
   days on market $225,000 Active 90 DOM
7. 2026-06-07
   days on market $225,000 Active 88 DOM
8. 2026-06-04
   days on market $225,000 Active 85 DOM
9. 2026-06-03
   days on market $225,000 Active 84 DOM
10. 2026-06-02
    days on market $225,000 Active 83 DOM
11. 2026-06-01
    days on market $225,000 Active 82 DOM
12. 2026-05-31
    days on market $225,000 Active 81 DOM
13. 2026-04-26
    price $225,000
14. 2026-03-15
    price $230,000
15. 2026-02-09
    listed $250,000 Active
16. 2002-07-29
    soldstatus $60,000
17. 1990-02-23
    soldstatus $44,800
18. 1967-11-01
    soldstatus $12,700

ⓘ 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: $4,230 · $353/mo
• Projected year-2 tax: $4,230 · $353/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $35,409
• − Mortgage interest: −$12,603
• − Property taxes: −$4,230
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,833
• − Management: −$2,833
• − HOA: −$4,344
• − Depreciation: −$6,545
• Taxable income: $895
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $3,900/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

+1671.7% since first listed

6 events — show timeline

• 2026-04-26 Price Changed $225,000 Beaches MLS
• 2026-03-15 Price Changed $230,000 Beaches MLS
• 2026-02-09 Listed $250,000 Beaches MLS
• 2002-07-29 Sold (Public Records) $60,000 Public Records
• 1990-02-23 Sold (Public Records) $44,800 Public Records
• 1967-11-01 Sold (Public Records) $12,700 Public Records

Property tax history

+6.0%/yr

Latest (2025): $4,230 · +11.3% YoY. Source: county tax records.