3113 S Ocean Dr #603 · Hallandale Beach, FL 33009

$225,000

1 bd · 1.0 ba · 850 sqft · Condo public records · 10 Days on market

Built 1977 $495/mo HOA · 13% 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 +28.9/30.0
• 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

Back on the market: Unmatched Value on the Beach! An exceptional opportunity to own in one of the best-managed boutique condominium buildings along the coastline. This well-kept 1-bedroom residence is located directly across from the ocean and offers one of the lowest maintenance fees on the beach, making it an ideal choice for both end users and savvy investors. The unit features a functional layout with abundant natural light, generous storage, and a comfortable living space that can be enjoyed as-is or personalized to taste. Offered turnkey, it allows for immediate use or rental, with rentals permitted from the first year of ownership. Ashleigh House Condominium has undergone extensive c

Key facts

• Low maintenance fees
• Generous storage
• Functional layout

Tags

• LOW MAINTENANCE FEES
• FUNCTIONAL LAYOUT
• ABUNDANT NATURAL LIGHT
• GENEROUS STORAGE
• TURNKEY
• EXTENSIVE CAPITAL IMPROVEMENTS

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $495; HOA covers amenities, common areas, laundry, structural maintenance, parking, pool(s), recreation facilities, roof, sewer, trash, and water; Association amenities include billiard room, bike storage, clubhouse, community kitchen, hobby room, laundry, library, pool, sauna, storage, trash service, and elevators

Exterior

• Parking: One assigned parking space
• Security: Secured elevator; Key card entry; Fire sprinkler system
• Utilities: Water available; Sewer available; Electric service
• Home design: Condominium in a 10-story building; Entry on level 3; Property is attached
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Heated pool; Intracoastal access waterfront; Has view; Exterior lighting

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Updated/remodeled condition; Bedroom on main level; Walk-in closet(s)
• Laundry & utility: Common area laundry

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 $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Cap rate 10.4% 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 19d 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 $3,690/mo this rent would consume 85% 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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 $193k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.64% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.57%
• DSCR: 1.65
• GRM: 5.1

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: -10.7%
• Equity multiple: 0.63×
• Total profit: $-23,542
• Equity at exit: $33,548

10-year hold

• IRR: -8.0%
• Equity multiple: 0.58×
• Total profit: $-26,249
• 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: 1380
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,690 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$382 /mo · $4,579/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$495
• Vacancy / Maint / Mgmt: −$775
• Net cashflow: $338

Break-even live

Break-even rent $3,262

Max offer price $225,000

Occupancy floor 86%

Sensitivity live

Price	-10% $466	-5% $402	+0% $338	+5% $274	+10% $211
Rent	-10% $47	-5% $192	+0% $338	+5% $484	+10% $630
Rate	-1.0pp $451	-0.5pp $395	base $338	+0.5pp $280	+1.0pp $221

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	9d	1	0.14mi
2080 S Ocean Dr #8 Hallandale Beach, FL	2.0	2.0	1100	$4,000	$3.64	25d	1	0.18mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,800	$2.99	4d	11	0.18mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,900	$3.07	25d	7	0.18mi
3140 S Ocean Dr Hallandale Beach, FL	2.0	2.0	1100	$4,250	$3.86	0d	3	0.18mi
3180 S Ocean Dr #1709 Hallandale Beach, FL	2.0	2.0	1105	$4,000	$3.62	9d	1	0.20mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1285	$3,650	$2.84	25d	3	0.20mi
3180 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0	1263	$3,750	$2.97	22d	2	0.20mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	19d	1	0.31mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	14d	1	0.31mi
1950 S Ocean Dr Unit 3D Hallandale Beach, FL	1.0	1.5	870	$3,950	$4.54	6d	1	0.31mi
1950 S Ocean Dr Unit 12M Hallandale Beach, FL	1.0	1.5	870	$3,800	$4.37	3d	1	0.31mi
1850 S Ocean Dr #2909 Hallandale Beach, FL	2.0	1.0	1086	$4,050	$3.73	25d	1	0.55mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	25d	1	0.55mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	25d	1	0.55mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	4d	1	0.55mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	25d	1	0.59mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	25d	1	0.59mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$3,999	$4.74	3d	1	0.59mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	25d	1	0.59mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$4,999	$5.92	22d	1	0.59mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	5d	1	0.59mi
1830 S Ocean Dr #3005 Hallandale Beach, FL	1.0	1.0	811	$4,000	$4.93	3d	1	0.59mi
1830 S Ocean Dr #2907 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	4d	1	0.59mi
1830 S Ocean Dr #4307 Hallandale Beach, FL	1.0	1.0	871	$4,100	$4.71	25d	1	0.59mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	25d	1	0.59mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	15d	1	0.59mi
1830 S Ocean Dr #4612 Hallandale Beach, FL	1.0	1.0	844	$4,950	$5.86	25d	1	0.59mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	11d	1	0.59mi
1830 S Ocean Dr #3112 Hallandale Beach, FL	1.0	1.0	844	$3,700	$4.38	3d	1	0.59mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	25d	1	0.59mi
1830 S Ocean Dr #4309 Hallandale Beach, FL	1.0	1.0	844	$3,900	$4.62	25d	1	0.59mi
1830 S Ocean Dr #4112 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	6d	1	0.59mi
1830 S Ocean Dr #3605 Hallandale Beach, FL	1.0	1.0	811	$4,500	$5.55	4d	1	0.59mi
1830 S Ocean Dr #4412 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	9d	1	0.59mi
1830 S Ocean Dr #4709 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	4d	1	0.59mi
1830 S Ocean Dr #4712 Hallandale Beach, FL	1.0	1.0	844	$3,950	$4.68	25d	1	0.59mi
1830 S Ocean Dr #4212 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	25d	1	0.59mi
2602 E Hallandale Beach Blvd Unit 1227270P Hallandale Beach, FL	2.0	1.0–2.0	640	$3,224	$5.04	0d	3	0.61mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	25d	3	0.62mi

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $225,000 Active 10 DOM
2. 2026-06-18
   days on market $225,000 Active 7 DOM
3. 2026-06-17
   days on market $225,000 Active 6 DOM
4. 2026-06-16
   days on market $225,000 Active 5 DOM
5. 2026-06-15
   days on market $225,000 Active 4 DOM
6. 2026-06-13
   days on marketlisting id $225,000 Active 2 DOM
7. 2026-06-09
   days on market $225,000 Active 125 DOM
8. 2026-06-07
   days on market $225,000 Active 123 DOM
9. 2026-06-04
   days on market $225,000 Active 120 DOM
10. 2026-06-03
    days on market $225,000 Active 119 DOM
11. 2026-06-02
    days on market $225,000 Active 118 DOM
12. 2026-06-01
    days on market $225,000 Active 117 DOM
13. 2026-05-31
    days on market $225,000 Active 116 DOM
14. 2026-05-14
    status Active
15. 2026-05-14
    price $225,000
16. 2026-04-13
    historical Active Under Contract
17. 2026-02-27
    price $220,000
18. 2026-02-01
    listed $230,000 Active
19. 2025-11-19
    listed $225,000 Active
20. 2025-11-19
    historical
21. 2025-11-04
    price $224,900
22. 2025-07-08
    status Active
23. 2025-05-01
    listed $225,000 Active
24. 2022-01-21
    soldstatus $193,000
25. 1999-05-24
    soldstatus $47,000
26. 1981-12-01
    soldstatus $56,000

ⓘ 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: $4,579 · $382/mo
• Projected year-2 tax: $4,579 · $382/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 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: $44,277
• − Mortgage interest: −$12,603
• − Property taxes: −$4,579
• − Insurance: −$6,244
• − Repairs & maintenance: −$3,542
• − Management: −$3,542
• − HOA: −$5,940
• − Depreciation: −$6,545
• Taxable income: $1,282
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $3,750/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

+301.8% since first listed

13 events — show timeline

• 2026-05-14 Relisted — MARMLS
• 2026-05-14 Price Changed $225,000 MARMLS
• 2026-04-13 Contingent — MARMLS
• 2026-02-27 Price Changed $220,000 MARMLS
• 2026-02-01 Listed $230,000 MARMLS
• 2025-11-19 Listing Removed — MARMLS
• 2025-11-19 Listed $225,000 MARMLS
• 2025-11-04 Price Changed $224,900 MARMLS
• 2025-07-08 Relisted — MARMLS
• 2025-05-01 Listed $225,000 MARMLS
• 2022-01-21 Sold (Public Records) $193,000 Public Records
• 1999-05-24 Sold (Public Records) $47,000 Public Records
• 1981-12-01 Sold (Public Records) $56,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,579 · +7.6% YoY. Source: county tax records.