581 Blue Heron Dr Unit 301-B · Hallandale Beach, FL 33009

$185,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 322 Days on market

Built 1979 $493/mo HOA · 13% 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 +30.0/30.0
• 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 MLS

Come and see this charming 1bed/1bath condo unit located on the top floor! This unit features neutral tile floors throughout, renovated kitchen and lots of natural light. Won't last! This is an +55 community. This is a Fannie Mae HomePath Property.

Key facts

• High hats lighting
• 2023 a/c
• Water heater

Tags

• CORNER UNIT
• RECENT ROOF
• 2023 A/C
• WATER HEATER
• HIGH HATS LIGHTING
• IMPACT WINDOWS

Property features AI

Finance

• Financial info: Pets not allowed or subject to restrictions
• HOA & community: Monthly association fee; Association fee covers laundry, building maintenance, sewer and water; Association amenities include pool and elevators

Exterior

• Parking: Assigned parking (one space)
• Utilities: Cable available; Association provides water and sewer
• Home design: Has attached property; 3 stories total; Entry on level 3; Resale unit
• Construction: Block construction
• Exterior features: Association pool

Interior

• Kitchen: Electric range; Icemaker; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Ceiling fans for cooling
• Interior features: Elevator; Other interior features
• Laundry & utility: Laundry included in association amenities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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; 1380 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,743/mo this rent would consume 86% 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 $6k 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 + 0.4% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $185k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 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 1979 — 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: 2.02% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.10%
• DSCR: 2.21
• GRM: 4.1

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: 15.6%
• Equity multiple: 1.60×
• Total profit: $31,278
• Equity at exit: $27,584

10-year hold

• IRR: 21.9%
• Equity multiple: 2.60×
• Total profit: $82,622
• Equity at exit: $15,995

Cash invested: $51,800 (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: 4.1×

Monthly cashflow live

• Estimated rent: $3,743 high
• Mortgage (P&I): −$970
• Tax from tax record: −$247 /mo · $2,960/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$493
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $1,104

Break-even live

Break-even rent $2,346

Max offer price $185,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,208	-5% $1,156	+0% $1,104	+5% $1,051	+10% $999
Rent	-10% $808	-5% $956	+0% $1,104	+5% $1,251	+10% $1,399
Rate	-1.0pp $1,197	-0.5pp $1,151	base $1,104	+0.5pp $1,056	+1.0pp $1,007

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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	0.26mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	25d	1	0.48mi
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	0.68mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	2d	5	0.69mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	25d	3	0.69mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	21d	4	0.69mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	25d	1	0.69mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	25d	1	0.69mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	25d	1	0.69mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	25d	5	0.80mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	4d	2	0.83mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$5,000	$4.64	25d	5	0.83mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	16d	48	0.84mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	4d	1	0.86mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	8d	1	0.86mi
4010 S Ocean Dr Unit 1227249P Hollywood, FL	1.0–3.0	1.5–2.5	1140	$3,991	$3.50	0d	3	0.86mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	25d	1	0.86mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	25d	1	0.86mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	23d	1	0.86mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	8d	1	0.87mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	13d	1	0.89mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	18d	1	0.89mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	6d	1	0.89mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	3d	1	0.89mi
2080 S Ocean Dr #8 Hallandale Beach, FL	2.0	2.0	1100	$4,000	$3.64	25d	1	0.92mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	25d	1	0.92mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	4d	1	0.92mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	25d	1	0.92mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	25d	1	0.92mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,800	$2.99	4d	11	0.92mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,900	$3.07	25d	7	0.92mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	11d	1	0.93mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	25d	1	0.93mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	15d	1	0.93mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	25d	1	0.93mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	25d	1	0.93mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	25d	1	0.93mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$4,999	$5.92	21d	1	0.93mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	25d	1	0.93mi
1830 S Ocean Dr #4307 Hallandale Beach, FL	1.0	1.0	871	$4,100	$4.71	25d	1	0.93mi

HOA detail condo

• Monthly dues: $493 · $5,916/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $185,000 Active 322 DOM
2. 2026-06-18
   days on market $185,000 Active 319 DOM
3. 2026-06-17
   days on market $185,000 Active 318 DOM
4. 2026-06-16
   days on market $185,000 Active 317 DOM
5. 2026-06-15
   days on market $185,000 Active 316 DOM
6. 2026-06-13
   days on market $185,000 Active 314 DOM
7. 2026-06-09
   days on market $185,000 Active 310 DOM
8. 2026-06-07
   days on market $185,000 Active 308 DOM
9. 2026-06-04
   days on market $185,000 Active 305 DOM
10. 2026-06-03
    days on market $185,000 Active 304 DOM
11. 2026-06-02
    days on market $185,000 Active 303 DOM
12. 2026-06-01
    days on market $185,000 Active 302 DOM
13. 2026-05-31
    days on market $185,000 Active 301 DOM
14. 2025-08-03
    listed $185,000 Active
15. 2015-05-05
    soldstatus $69,900 Sold 248-char remark

    Show marketing remark (248 chars)

    Come and see this charming 1bed/1bath condo unit located on the top floor! This unit features neutral tile floors throughout, renovated kitchen and lots of natural light. Won't last! This is an +55 community. This is a Fannie Mae HomePath Property.

16. 2015-03-19
    status Pending 248-char remark

    Show marketing remark (248 chars)

    Come and see this charming 1bed/1bath condo unit located on the top floor! This unit features neutral tile floors throughout, renovated kitchen and lots of natural light. Won't last! This is an +55 community. This is a Fannie Mae HomePath Property.

17. 2015-03-14
    historical
18. 2015-03-13
    listed $69,900 Active 248-char remark

    Show marketing remark (248 chars)

    Come and see this charming 1bed/1bath condo unit located on the top floor! This unit features neutral tile floors throughout, renovated kitchen and lots of natural light. Won't last! This is an +55 community. This is a Fannie Mae HomePath Property.

19. 2014-07-07
    price $75,000
20. 2014-06-04
    listed $100,000 Active
21. 2005-09-26
    soldstatus $120,000
22. 2003-07-16
    soldstatus $55,500
23. 1981-07-01
    soldstatus $54,900
24. 1981-07-01
    soldstatus $48,800

ⓘ 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: $2,960 · $247/mo
• Projected year-2 tax: $2,960 · $247/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 X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 26 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: $44,915
• − Mortgage interest: −$10,363
• − Property taxes: −$2,960
• − Insurance: −$1,722
• − Repairs & maintenance: −$3,593
• − Management: −$3,593
• − HOA: −$5,916
• − Depreciation: −$5,382
• Taxable income: $11,385
• Est. tax owed @ 24.0%: −$2,732
• After-tax cash flow: $10,510/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

+237.0% since first listed

11 events — show timeline

• 2025-08-03 Listed $185,000 MARMLS
• 2015-05-05 Sold (MLS) $69,900 MARMLS
• 2015-03-19 Pending — MARMLS
• 2015-03-14 Listing Removed — MARMLS
• 2015-03-13 Listed $69,900 MARMLS
• 2014-07-07 Price Changed $75,000 MARMLS
• 2014-06-04 Listed $100,000 MARMLS
• 2005-09-26 Sold (Public Records) $120,000 Public Records
• 2003-07-16 Sold (Public Records) $55,500 Public Records
• 1981-07-01 Sold (Public Records) $48,800 Public Records
• 1981-07-01 Sold (Public Records) $54,900 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,960 · +4.6% YoY. Source: county tax records.