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$345,000

For Sale - Active
1980 S Ocean Dr Apt 2B, Hallandale Beach, FL 33009
1 Bed
2 Baths
870 Square Feet
0.00 Acres Lot
Built in 1971
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Jun 17, 2025 at 03:04AM

Investment Summary


Monthly Cash Flow
-$1,442
Cap Rate
1.1%
Cash-on-Cash Return
-21.8%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.1%

Property Description


0.00 Acres Lot
Built in 1971
For Sale - Active
Units n/a

Fully furnished, remodeled kitchen, Ocean view, facing north. Resort style amenities include, Beach Access, 2 Restaurants, 2 heated pools, snack bar, 2 mini-marts, 2 Fitness gyms, Sauna & Steam rooms, Tennis courts, Marina, putting golf, Billiard rooms, Shuffleboard, Basketball, barbecue area, Beach Service, 24 hr. Security, Valet. Air conditioning, Basic cable & internet is included in the maintenance. Very easy to show.

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Location


Property Details


Parking

  • Description: Covered, Carport
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 23

HOA

  • Has HOA: Yes
  • HOA Fee: $865/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 514226BH3540
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise
  • Year Built: 1971

Tax Information

  • Annual Tax: $6,417

Utilities

  • Heating: Central, Electric
  • Cooling: Electric

Location

  • County: Broward

Listing Details


Listed by:
Marcelo Pagelsohn
The Keyes Company
(305) 725-8174

Source:
MIAMI REALTORS MLS
MLS#: A11797067
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$1,442
Cap Rate
1.1%
Cash-on-Cash Return
-21.8%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.1%

Purchase Details

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Purchase price:
$345,000
Amount financed:
-$276,000
Down payment:
$69,000
Closing costs:
$10,350
Rehab costs:
$0
Initial cash invested:
$79,350
Square feet:
870
Cost per square foot:
$397
Monthly rent per square foot:
$2.87

Financing Details

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Loan amount:
$276,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,767
Property tax:
$535
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,477

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$535-$6,417
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (35%)
35%-$865-$10,380
Total operating expenses: (81%)
81%-$2,025-$24,297

Cash Flow


Monthly Yearly
Net operating income:
$325 $3,900
Mortgage payments:
-$1,767 -$21,204
Cash flow:
$1,442 $17,304