1825 S Ocean Dr #505 · Hallandale Beach, FL 33009

$149,900

1 bd · 2.0 ba · 640 sqft · Condo public records · 83 Days on market

Built 1970 $722/mo HOA · 25% of rent

---

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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• 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

Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

Key facts

• Upgraded electrical
• Impact windows
• $722 HOA

Tags

• IMPACT WINDOWS
• IMPACT SLIDING GLASS DOORS
• UPGRADED ELECTRICAL
• 50 YEAR RECERTIFICATION

Property features AI

Finance

• Financial info: Pets are not allowed
• HOA & community: Monthly association fee; Association fee covers common areas, hot water, insurance, internet, laundry, grounds maintenance, structure maintenance, pool(s), sewer, trash and water; Community amenities include laundry, pool, trash service and elevators

Exterior

• Parking: Guest parking; One assigned space
• Security: Secured lobby; Security/high-impact doors
• Utilities: Cable available
• Home design: Condominium (attached property); 11-story building; Entry on 5th floor; Resale unit
• Construction: Block construction
• Exterior features: Balcony (open); Security/high-impact doors; Association heated pool; Waterfront with Intracoastal access; East-facing view; Exterior lighting; Lobby secured

Interior

• Bedrooms: Entry located on 5th level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Ceiling fans
• Interior features: Blinds; Sliding windows; Impact glass; First floor entry; Living/Dining room; Main living area on entry level
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $0 ($0/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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-.
• 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; 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 $2,945/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 $1k 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 83 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $19k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $427/mo; HOA is 25% of rent.
• 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 1.96% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• GRM: 4.2

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: -22.4%
• Equity multiple: 0.26×
• Total profit: $-30,875
• Equity at exit: $22,351

10-year hold

• IRR: -48.6%
• Equity multiple: -0.25×
• Total profit: $-52,418
• Equity at exit: $12,961

Cash invested: $41,972 (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: 4.2×

Monthly cashflow live

• Estimated rent: $2,945 high
• Mortgage (P&I): −$786
• Tax from tax record: −$329 /mo · $3,951/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$722
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $0

Break-even live

Break-even rent $2,945

Max offer price $149,900

Occupancy floor 95%

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: $37,475
• Closing costs: $4,497
• 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	0.19mi
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	0.20mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,200	$4.32	14d	7	0.85mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,000	$4.12	8d	7	0.85mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$4,400	$4.53	10d	6	0.85mi
2501 S Ocean Dr Hollywood, FL	1.0–2.0	1.0–2.0	971	$3,800	$3.91	19d	8	0.85mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	3d	2	1.02mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	15d	48	1.49mi

HOA detail condo

• Monthly dues: $722 · $8,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-12
   status Pending
2. 2026-04-27
   price $149,900
3. 2026-04-10
   price $154,900
4. 2026-03-10
   price $159,000
5. 2026-02-16
   listed $169,000 Active
6. 2020-11-23
   soldstatus $150,000
7. 2020-11-20
   soldstatus $150,000 Closed 244-char remark

   Show marketing remark (244 chars)

   Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

8. 2020-11-03
   status Pending 244-char remark

   Show marketing remark (244 chars)

   Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

9. 2020-07-12
   price $163,000 244-char remark

   Show marketing remark (244 chars)

   Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

10. 2020-05-25
    status Active 244-char remark

    Show marketing remark (244 chars)

    Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

11. 2020-05-19
    historical 244-char remark

    Show marketing remark (244 chars)

    Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

12. 2020-05-16
    listed $176,000 Active 244-char remark

    Show marketing remark (244 chars)

    Walk to the beach or see the Atlantic Ocean from your balcony. Great floor plan with private master Bedroom. Open Living Room & Dining area. double parking for possible 2 cars undercover. Get to your car without getting rained on or windy

13. 1997-09-16
    soldstatus $50,000

ⓘ 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: $3,951 · $329/mo
• Projected year-2 tax: $3,951 · $329/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 · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 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: $35,338
• − Mortgage interest: −$8,397
• − Property taxes: −$3,951
• − Insurance: −$5,868
• − Repairs & maintenance: −$2,827
• − Management: −$2,827
• − HOA: −$8,664
• − Depreciation: −$4,361
• Taxable loss: −$1,557
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $374/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

+199.8% since first listed

13 events — show timeline

• 2026-05-12 Pending — MARMLS
• 2026-04-27 Price Changed $149,900 MARMLS
• 2026-04-10 Price Changed $154,900 MARMLS
• 2026-03-10 Price Changed $159,000 MARMLS
• 2026-02-16 Listed $169,000 MARMLS
• 2020-11-23 Sold (Public Records) $150,000 Public Records
• 2020-11-20 Sold (MLS) $150,000 MARMLS
• 2020-11-03 Pending — MARMLS
• 2020-07-12 Price Changed $163,000 MARMLS
• 2020-05-25 Relisted — MARMLS
• 2020-05-19 Listing Removed — MARMLS
• 2020-05-16 Listed $176,000 MARMLS
• 1997-09-16 Sold (Public Records) $50,000 Public Records

Property tax history

+9.9%/yr

Latest (2025): $3,951 · +4.5% YoY. Source: county tax records.