3850 Washington St #409 · Hollywood, FL 33021

$137,900

1 bd · 2.0 ba · 994 sqft · Condo public records · 23 Days on market

Built 1980 $580/mo HOA · 29% 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 +15.5/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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 MLS

Spacious one bedroom one and a half bath. 996 Sq. Ft. Enclosed balcony with floor to ceiling sliding glass doors makes for a wonderful office/den. Tile and bamboo flooring. Eat-in kitchen. Walk-in closets. Fully furnished. Building enjoys 24/7 security, heated pool and hot tub, extra storage, bike room and shuffleboard. Building is steps to walking paths, tennis courts and recreational room with barbeques. Hillcrest is close to shopping, restaurants, beaches, Hardrock Hotel and Casino, Ft. Lauderdale Airport, Gulfstream Park Racing and Casino, I-95, Turnpike and the Famous Hollywood Boardwalk. * ALL OFFERS TO ACCOMPANY PREAPPROVAL AND POF * * MINIMUM 25% DOWN * * * NO LEASING PERMITTED *

Key facts

• New plumbing
• Enclosed balcony
• Extra storage unit

Tags

• NEW PLUMBING
• EXTRA STORAGE UNIT
• ENCLOSED BALCONY
• PLENTY OF GUEST PARKING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee; Association amenities include bike storage, laundry, pool, spa/hot tub, and elevators; Association fee covers management, common areas, hot water, insurance, internet, laundry, structure maintenance, parking, pest control, pool(s), reserve fund, sewer, security, trash, and water

Exterior

• Parking: Assigned parking; Detached carport; Detached parking; Garage; Guest parking; 1 covered space; Has carport (1 space)
• Security: Doorman; Secured elevator; Secured lobby; Fire sprinkler system; Smoke detectors
• Utilities: Electric power
• Home design: Condo/unit in a 12-story building; Entry on level 4; Attached property
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Fruit trees; Heated pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Furnishing negotiable; Elevator; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $138k.

Deal economics

• At list price, monthly cash flow is $55 ($662/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $136k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% 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); 540 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $953 of loan paydown is wiped out by about $4k 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 23 days — a 2% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $117k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $135,831 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 5.8

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-19,626
• Equity at exit: $20,561

10-year hold

• IRR: -6.6%
• Equity multiple: 0.59×
• Total profit: $-15,789
• Equity at exit: $11,923

Cash invested: $38,612 (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: 540
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$723
• Tax from tax record: −$140 /mo · $1,682/yr
• Insurance: −$57
• HOA: −$580
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $55

Break-even live

Break-even rent $1,900

Max offer price $137,900

Occupancy floor 92%

Sensitivity live

Price	-10% $133	-5% $94	+0% $55	+5% $16	+10% $-23
Rent	-10% $-100	-5% $-23	+0% $55	+5% $133	+10% $211
Rate	-1.0pp $125	-0.5pp $90	base $55	+0.5pp $19	+1.0pp $-17

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 S Crescent Dr Unit 106 Hollywood, FL	—	1.0	550	$1,425	$2.59	15d	1	0.31mi
1200 Tallwood Ave #302 Hollywood, FL	2.0	2.0	840	$2,225	$2.65	5d	1	0.34mi
1200 Tallwood Ave #302 Hollywood, FL	2.0	2.0	840	$2,250	$2.68	26d	1	0.34mi
911 S Park Rd Hollywood, FL	1.0–3.0	1.0–2.0	1123	$2,377	$2.12	0d	25	0.34mi
900 Tallwood Ave #207 Hollywood, FL	1.0	1.0	640	$1,575	$2.46	22d	1	0.34mi
555 S Luna Ct Hollywood, FL	2.0	2.0	1036	$2,120	$2.05	6d	2	0.35mi
812 S Park Rd Hollywood, FL	1.0–3.0	1.0–2.0	999	$1,719	$1.72	0d	23	0.36mi
919 Hillcrest Dr #511 Hollywood, FL	1.0	1.5	830	$1,700	$2.05	26d	1	0.37mi
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	4d	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
315 S Crescent Dr Hollywood, FL	—	1.0	544	$1,425	$2.62	17d	1	0.41mi
901 Hillcrest Dr #208 Hollywood, FL	1.0	1.5	830	$1,700	$2.05	26d	1	0.42mi
901 Hillcrest Dr #307 Hollywood, FL	1.0	1.5	830	$1,750	$2.11	26d	1	0.42mi
640 S Park Rd Unit 34-4 Hollywood, FL	2.0	2.0	1060	$2,250	$2.12	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	18d	1	0.43mi
530 S Park Rd Hollywood, FL	2.0	2.0	1060	$2,375	$2.24	20d	1	0.43mi
550 S Park Rd Unit 14-8 Hollywood, FL	1.0	1.0	650	$1,750	$2.69	9d	1	0.43mi
530 S Park Rd Hollywood, FL	1.0	1.0	841	$1,800	$2.14	26d	1	0.43mi
3500 Jackson St Unit 203 Hollywood, FL	2.0	2.0	875	$1,995	$2.28	26d	1	0.44mi
620 S Park Rd Unit 31-2 Hollywood, FL	1.0	1.0	841	$1,800	$2.14	26d	1	0.44mi
610 S Park Rd Unit 26-1 Hollywood, FL	1.0	1.0	841	$2,100	$2.50	26d	1	0.47mi
610 S Park Rd Unit 26-1 Hollywood, FL	1.0	1.0	841	$1,950	$2.32	6d	1	0.47mi
470 S Park Rd Unit 7-110 Hollywood, FL	1.0	1.0	659	$1,800	$2.73	26d	1	0.47mi
470 S Park Rd Unit 7-203 Hollywood, FL	2.0	2.0	820	$2,050	$2.50	26d	1	0.47mi
3600 Van Buren St Hollywood, FL	1.0–2.0	1.0–2.0	1055	$1,950	$1.85	0d	5	0.47mi
3711 Van Buren St #2 Hollywood, FL	1.0	1.0	660	$1,550	$2.35	26d	1	0.49mi
460 S Park Rd Unit 6-304 Hollywood, FL	2.0	1.0	918	$1,950	$2.12	7d	1	0.49mi
460 S Park Rd Apt 109 Hollywood, FL	2.0	2.0	867	$2,100	$2.42	21d	1	0.49mi
460 S Park Rd Unit 6-203 Hollywood, FL	2.0	2.0	820	$2,400	$2.93	7d	1	0.49mi
950 Hillcrest Dr Hollywood, FL	1.0	1.5	775	$1,675	$2.16	0d	2	0.50mi
950 Hillcrest Dr Hollywood, FL	1.0	1.5	775	$1,675	$2.16	16d	2	0.50mi
3601 Van Buren St Hollywood, FL	2.0	2.0	1107	$2,195	$1.98	0d	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	23d	1	0.51mi
410 S Park Rd Unit 1-104 Hollywood, FL	2.0	1.0	838	$2,050	$2.45	0d	1	0.55mi
410 S Park Rd Unit 1-204 Hollywood, FL	2.0	1.0	838	$2,100	$2.51	13d	1	0.55mi
4700 Washington St Hollywood, FL	1.0	1.5	775	$1,725	$2.23	0d	4	0.56mi

HOA detail condo

• Monthly dues: $580 · $6,960/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $137,900 Active 23 DOM
2. 2026-06-18
   days on market $137,900 Active 20 DOM
3. 2026-06-17
   days on market $137,900 Active 19 DOM
4. 2026-06-16
   days on market $137,900 Active 18 DOM
5. 2026-06-15
   days on market $137,900 Active 17 DOM
6. 2026-06-13
   days on market $137,900 Active 15 DOM
7. 2026-06-09
   days on market $137,900 Active 11 DOM
8. 2026-06-08
   days on market $137,900 Active 10 DOM
9. 2026-06-07
   days on market $137,900 Active 9 DOM
10. 2026-06-04
    days on market $137,900 Active 6 DOM
11. 2026-06-03
    days on market $137,900 Active 5 DOM
12. 2026-06-02
    days on market $137,900 Active 4 DOM
13. 2026-06-01
    days on market $137,900 Active 3 DOM
14. 2026-05-31
    days on market $137,900 Active 2 DOM

ⓘ 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: $1,682 · $140/mo
• Projected year-2 tax: $1,682 · $140/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: $23,635
• − Mortgage interest: −$7,725
• − Property taxes: −$1,682
• − Insurance: −$690
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$6,960
• − Depreciation: −$4,012
• Taxable loss: −$1,214
• Est. tax savings @ 24.0%: +$291
• After-tax cash flow: $954/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

+300.9% since first listed

16 events — show timeline

• 2026-05-28 Listed $137,900 MARMLS
• 2026-05-22 Listing Removed — MARMLS
• 2026-04-06 Price Changed $152,000 MARMLS
• 2026-03-31 Price Changed $150,000 MARMLS
• 2026-02-21 Price Changed $152,000 MARMLS
• 2025-12-05 Listed $159,000 MARMLS
• 2022-04-13 Sold (MLS) $117,000 MARMLS
• 2022-03-08 Pending — MARMLS
• 2022-02-22 Relisted — MARMLS
• 2022-01-17 Contingent — MARMLS
• 2022-01-04 Listed $117,900 MARMLS
• 2014-09-18 Sold (Public Records) $75,000 Public Records
• 2008-06-26 Sold (MLS) $69,500 MARMLS
• 2008-01-30 Listed $79,888 MARMLS
• 1989-10-20 Sold (Public Records) $35,000 Public Records
• 1980-04-01 Sold (Public Records) $34,400 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,682 · -19.6% YoY. Source: county tax records.