400 Leslie Dr #605 · Hallandale Beach, FL 33009

$257,000

1 bd · 2.0 ba · 915 sqft · Condo public records · 197 Days on market

Built 1981 $425/mo HOA · 11% 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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience coastal living at its best in this beautifully updated 1-bedroom condo! This bright and spacious residence features an open-concept kitchen flowing into a generous dining and living area, plus a private balcony perfect for morning coffee or sunset views. The oversized bedroom includes a large walk-in closet—ideal for effortless storage. Enjoy some of the lowest maintenance fees in the area and the peace of mind of a building that has already completed its 40-year recertification. Pets are welcome (with restrictions), and leasing is permitted after two years of ownership. Located just minutes from the beach, top shopping, and dining, this community offers true resort-style l

Key facts

• $425 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee includes amenities, laundry, and structural maintenance; Association amenities: elevator(s), laundry, pool

Exterior

• Parking: 1 covered parking space; 1-car garage
• Security: Secured lobby; Fire sprinkler system
• Utilities: Cable available
• Home design: Condominium (attached); Located on level 6 of an 11-story building; Entry on level 6
• Construction: Block construction
• Exterior features: Barbecue area; Association pool; Waterfront: bayfront

Interior

• Kitchen: Dishwasher; Microwave; Disposal; Trash compactor
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Living/dining room; Tub/shower
• Laundry & utility: Community laundry area; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $257k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $257k).
• Recommended offer: $226k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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-.
• Market conditions: Rents flat; 1373 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $3,966/mo this rent would consume 91% 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 $8k 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 197 days — a 12% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $28k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; list at $257k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• GRM: 5.4

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: -7.2%
• Equity multiple: 0.74×
• Total profit: $-18,400
• Equity at exit: $38,320

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-10,585
• Equity at exit: $22,221

Cash invested: $71,960 (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: 5.4×

Monthly cashflow live

• Estimated rent: $3,966 high
• Mortgage (P&I): −$1,348
• Tax from tax record: −$314 /mo · $3,771/yr
• Insurance: −$107
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$425
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $513

Break-even live

Break-even rent $3,317

Max offer price $257,000

Occupancy floor 82%

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: $64,250
• Closing costs: $7,710
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,600	$3.32	10d	18	0.22mi
3505 S Ocean Dr Hollywood, FL	1.0–2.0	1.5–2.0	1085	$3,900	$3.59	12d	17	0.22mi
3505 S Ocean Dr Unit 1049820P Hollywood, FL	1.0	1.0	785	$4,827	$6.15	3d	1	0.22mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	14d	8	0.23mi
3725 S Ocean Dr Hollywood, FL	2.0–3.0	2.0	1377	$4,000	$2.90	2d	7	0.23mi
3801 S Ocean Dr Unit 4R Hollywood, FL	1.0	1.0	812	$3,850	$4.74	24d	1	0.27mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	3d	1	0.31mi
3901 S Ocean Dr Unit 10M Hollywood, FL	1.0	1.0	874	$5,000	$5.72	24d	1	0.31mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	3d	1	0.31mi
3901 S Ocean Dr Unit 1227197P Hollywood, FL	1.0–2.0	1.0–2.0	1054	$2,727	$2.59	2d	2	0.31mi
3901 S Ocean Dr Unit 11M Hollywood, FL	1.0	1.0	874	$4,400	$5.03	24d	1	0.31mi
3901 S Ocean Dr Unit 10Z Hollywood, FL	1.0	1.0	874	$4,000	$4.58	24d	1	0.31mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$5,000	$4.64	24d	5	0.34mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	0.34mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	22d	1	0.34mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	0.34mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	0.34mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	24d	1	0.34mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	7d	1	0.34mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,000	$2.72	22d	4	0.35mi
4001 S Ocean Dr Hollywood, FL	2.0–3.0	1.5–3.0	1471	$4,800	$3.26	24d	3	0.35mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	3d	2	0.37mi
4111 S Ocean Dr Unit 1557596P Hollywood, FL	1.0	1.0	796	$5,356	$6.73	7d	1	0.39mi
4111 S Ocean Dr #1810 Hollywood, FL	1.0	1.0	1000	$5,500	$5.50	24d	1	0.39mi
4111 S Ocean Dr Unit 1022181P Hollywood, FL	1.0–2.0	1.0–2.0	968	$4,407	$4.55	16d	2	0.39mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,000	$4.12	7d	7	0.42mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,400	$4.53	10d	6	0.42mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,200	$4.32	14d	7	0.42mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$3,800	$3.91	19d	8	0.42mi
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	0.43mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	0.43mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	0.43mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	0.43mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	2d	5	0.43mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	24d	3	0.43mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	20d	4	0.43mi
1800 S Ocean Dr #909 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	24d	1	0.47mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	20d	1	0.47mi
1800 S Ocean Dr #4209 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	2d	1	0.47mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	24d	1	0.52mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-03
   days on market $257,000 Active 197 DOM
2. 2026-06-02
   days on market $257,000 Active 196 DOM
3. 2026-06-01
   days on market $257,000 Active 195 DOM
4. 2026-05-31
   days on market $257,000 Active 194 DOM
5. 2026-05-05
   price $257,000
6. 2026-04-16
   price $258,000
7. 2026-02-24
   price $259,000
8. 2026-02-10
   price $275,000
9. 2025-11-18
   listed $285,000 Active
10. 2024-05-16
    historical
11. 2024-02-08
    price $265,000
12. 2024-01-29
    price $275,000
13. 2024-01-25
    price $289,000
14. 2024-01-05
    listed $295,000 Active
15. 2023-12-27
    historical
16. 2023-10-22
    price $299,000
17. 2023-10-02
    historical $2,400
18. 2023-09-05
    listed $2,400
19. 2023-09-04
    price $310,000
20. 2023-09-03
    listed $310 Active
21. 2021-10-20
    soldstatus $114,000

ⓘ 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: $3,771 · $314/mo
• Projected year-2 tax: $3,771 · $314/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 8/10 Severe FEMA zone AE · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $47,598
• − Mortgage interest: −$14,396
• − Property taxes: −$3,771
• − Insurance: −$6,404
• − Repairs & maintenance: −$3,808
• − Management: −$3,808
• − HOA: −$5,100
• − Depreciation: −$7,476
• Taxable income: $2,835
• Est. tax owed @ 24.0%: −$680
• After-tax cash flow: $5,474/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)

No district data.

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

+125.4% since first listed

17 events — show timeline

• 2026-05-05 Price Changed $257,000 MARMLS
• 2026-04-16 Price Changed $258,000 MARMLS
• 2026-02-24 Price Changed $259,000 MARMLS
• 2026-02-10 Price Changed $275,000 MARMLS
• 2025-11-18 Listed $285,000 MARMLS
• 2024-05-16 Listing Removed — MARMLS
• 2024-02-08 Price Changed $265,000 MARMLS
• 2024-01-29 Price Changed $275,000 MARMLS
• 2024-01-25 Price Changed $289,000 MARMLS
• 2024-01-05 Listed $295,000 MARMLS
• 2023-12-27 Listing Removed — MARMLS
• 2023-10-22 Price Changed $299,000 MARMLS
• 2023-10-02 Rental Removed $2,400 MARMLS
• 2023-09-05 Listed for Rent $2,400 MARMLS
• 2023-09-04 Price Changed $310,000 MARMLS
• 2023-09-03 Listed $310 MARMLS
• 2021-10-20 Sold (Public Records) $114,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $3,771 · -26.4% YoY. Source: county tax records.