3133 S Ocean Dr #218 · Hallandale Beach, FL 33009

$159,900

1 bd · 1.0 ba · 750 sqft · Condo public records · 164 Days on market

Built 1964 $455/mo HOA · 12% of rent ↓ 3% since listing

---

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

Beautifully renovated 1-bedroom, 1-bath condo, new a/c and impact window, well-designed living space in a desirable 55+ waterfront community. This turnkey, fully furnished residence is move-in ready and features tasteful updates throughout. The community is ideally located directly on the Intracoastal Waterway, with the ocean just across the street, providing the best of South Florida coastal living. Residents enjoy a serene common sitting area overlooking the Intracoasta. Watch boat parade by and enjoy beautiful sunsets perfect for relaxing, socializing, or enjoying daily water views. An excellent opportunity for a primary residence or seasonal retreat in a well-maintained complex close to

Key facts

• Waterfront community
• Common sitting area
• $455 HOA

Tags

• WATERFRONT COMMUNITY
• COMMON SITTING AREA
• INTRACOASTAL WATERWAY
• WELL MAINTAINED COMPLEX

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly association fee ($455) covering common areas, parking, pool(s) and recreation facilities; Community amenities include clubhouse, elevator(s), laundry, barbecue, picnic area and pool; Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Closed-circuit camera(s)
• Utilities: Heated pool
• Home design: Attached property; 3-story building; Entry on level 2; Waterfront property with intracoastal access
• Construction: Resale property
• Exterior features: Balcony; Open balcony

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Furnished; 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 $160k.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: 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.
• Zoned schools: Gulfstream Academy of Hallandale Beach (math 32% / reading 40%, grade F, #1,670 of 2,144 statewide, top 78%, 1,317 students, 73% 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 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $3,688/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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

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 $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1964 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 2.31% ✓
• Cap rate: 15.92%
• Cash-on-cash: 34.37%
• DSCR: 2.53
• GRM: 3.6

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: 11.7%
• Equity multiple: 1.45×
• Total profit: $19,932
• Equity at exit: $23,842

10-year hold

• IRR: 17.6%
• Equity multiple: 2.20×
• Total profit: $53,897
• Equity at exit: $13,825

Cash invested: $44,772 (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: 3.6×

Monthly cashflow live

• Estimated rent: $3,688 high
• Mortgage (P&I): −$839
• Tax from tax record: −$271 /mo · $3,256/yr
• Insurance: −$67
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$455
• Vacancy / Maint / Mgmt: −$775
• Net cashflow: $856

Break-even live

Break-even rent $2,605

Max offer price $159,900

Occupancy floor 72%

Sensitivity live

Price	-10% $946	-5% $901	+0% $856	+5% $810	+10% $765
Rent	-10% $564	-5% $710	+0% $856	+5% $1,001	+10% $1,147
Rate	-1.0pp $936	-0.5pp $896	base $856	+0.5pp $814	+1.0pp $772

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: $39,975
• Closing costs: $4,797
• 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	26d	1	0.18mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,800	$2.99	5d	11	0.18mi
2080 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1270	$3,900	$3.07	26d	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	26d	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	7d	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	26d	1	0.55mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,300	$3.96	26d	1	0.55mi
1850 S Ocean Dr #4009 Hallandale Beach, FL	2.0	1.0	1086	$3,900	$3.59	26d	1	0.55mi
1850 S Ocean Dr #3509 Hallandale Beach, FL	2.0	1.0	1086	$4,000	$3.68	5d	1	0.55mi
1830 S Ocean Dr #3407 Hallandale Beach, FL	1.0	1.0	871	$4,000	$4.59	26d	1	0.59mi
1830 S Ocean Dr #1709 Hallandale Beach, FL	1.0	1.0	844	$4,500	$5.33	26d	1	0.59mi
1830 S Ocean Dr #1812 Hallandale Beach, FL	1.0	1.0	844	$3,999	$4.74	4d	1	0.59mi
1830 S Ocean Dr #4005 Hallandale Beach, FL	1.0	1.0	811	$4,600	$5.67	26d	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	26d	1	0.59mi
1830 S Ocean Dr #1107 Hallandale Beach, FL	1.0	1.0	871	$3,750	$4.31	26d	1	0.59mi
1830 S Ocean Dr #2409 Hallandale Beach, FL	1.0	1.0	844	$4,300	$5.09	16d	1	0.59mi
1830 S Ocean Dr #4612 Hallandale Beach, FL	1.0	1.0	844	$4,950	$5.86	26d	1	0.59mi
1830 S Ocean Dr #2412 Hallandale Beach, FL	1.0	1.0	844	$3,600	$4.27	12d	1	0.59mi
1830 S Ocean Dr #3112 Hallandale Beach, FL	1.0	1.0	844	$3,700	$4.38	4d	1	0.59mi
1830 S Ocean Dr #3909 Hallandale Beach, FL	1.0	1.0	844	$5,000	$5.92	26d	1	0.59mi
1830 S Ocean Dr #4309 Hallandale Beach, FL	1.0	1.0	844	$3,900	$4.62	26d	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	26d	1	0.59mi
1830 S Ocean Dr #4212 Hallandale Beach, FL	1.0	1.0	844	$3,800	$4.50	26d	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	26d	3	0.62mi

HOA detail condo

• Monthly dues: $455 · $5,460/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $159,900 Active 164 DOM
2. 2026-06-18
   days on market $159,900 Active 161 DOM
3. 2026-06-17
   days on market $159,900 Active 160 DOM
4. 2026-06-16
   days on market $159,900 Active 159 DOM
5. 2026-06-15
   days on market $159,900 Active 158 DOM
6. 2026-06-13
   days on market $159,900 Active 156 DOM
7. 2026-06-09
   days on market $159,900 Active 152 DOM
8. 2026-06-07
   days on market $159,900 Active 150 DOM
9. 2026-06-04
   days on market $159,900 Active 147 DOM
10. 2026-06-03
    days on market $159,900 Active 146 DOM
11. 2026-06-02
    days on market $159,900 Active 145 DOM
12. 2026-06-01
    days on market $159,900 Active 144 DOM
13. 2026-05-31
    days on market $159,900 Active 143 DOM
14. 2026-03-19
    price $159,900
15. 2026-01-08
    listed $165,000 Active

ⓘ 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: $3,256 · $271/mo
• Projected year-2 tax: $3,256 · $271/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: $44,259
• − Mortgage interest: −$8,957
• − Property taxes: −$3,256
• − Insurance: −$5,918
• − Repairs & maintenance: −$3,541
• − Management: −$3,541
• − HOA: −$5,460
• − Depreciation: −$4,652
• Taxable income: $8,935
• Est. tax owed @ 24.0%: −$2,144
• After-tax cash flow: $8,124/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

-3.1% since first listed

2 events — show timeline

• 2026-03-19 Price Changed $159,900 MARMLS
• 2026-01-08 Listed $165,000 MARMLS

Property tax history

+8.1%/yr

Latest (2025): $3,256 · +5.4% YoY. Source: county tax records.