BlueBay Brokers Investment Memo
View listing ↗
208 SW 2nd Ave · Hallandale Beach
Short-Term Rental Yield Analysis

208 SW 2nd Ave · Hallandale Beach

208 SW 2nd Ave, Hallandale Beach FL 33009 · 4 Bed / 2 Bath · 1,542 sq ft · Built 1979
$657,000GardenSingle-familyPool
Purchase price
$657,000
$426 / sq ft
Lot
6251 sf
single-family, no HOA
Property tax (est.)
$13,140/yr
est. post-sale reassessment @ 2%
Cap rate (base)
4.8%
unlevered, honest
208 SW 2nd Ave · Hallandale Beach208 SW 2nd Ave · Hallandale Beach208 SW 2nd Ave · Hallandale Beach208 SW 2nd Ave · Hallandale Beach

The revenue basis

STR revenue here is the AirDNA Rentalizer, default comp set, read 13 Sep 2026, uplifted 20% to the level Property Management Brickell achieves on its own managed units — a market benchmark, not a unit-specific promise. Most units land below the zone median; the scenarios below bracket the range and the base case is deliberately mid-range.

STR revenue basis (AirDNA Rentalizer, default comp set, read 13 Sep 2026, uplifted 20% to the level Property Management Brickell achieves on its own managed units)
Occupancy58%
Average daily rate$404
Gross annual revenue — base case$103,000

Annual pro-forma — base case

Professionally-managed short-term rental. Base revenue $103,000.

Gross STR revenue$103,000
Professional STR management (20%)−$20,600
Property tax (est., see below)−$13,140
Insurance (single-family, STR)−$8,000
Cleaning (guest-paid, pass-through)−$14,607
Utilities + pool + lawn + internet−$10,800
Supplies, turnover, reserves (~4%)−$4,120
Net operating income (NOI)$31,733

Unlevered cap rate = $31,733 ÷ $657,000 = 4.8%.

Cash vs financed

The same $31,733 NOI, two ways to own it.

All cash

Cash in (price + ~3% closing)$676,710
Net operating income+$31,733
Cash yield≈ 4.7%

25% down, financed

Cash in (down + closing)$183,960
NOI − debt ($492,750 @ 7.25%)−$8,604/yr
+ principal paydown yr 1+$4,613
Monthly cash flow≈ −$717/mo

Three revenue scenarios

Same $657,000. Only the STR revenue assumption changes (cap = NOI ÷ price).

Conservative
$91,670
cap 3.5%
★ Base
$103,000
cap 4.8%
Optimistic
$106,090
cap 5.2%
GrossNOI Conservative$92k Base$103k Optimistic$106k Gross STR revenue Net operating income

Next step

Model your exact numbers

I'll walk you through STR set-up, financing options, and run the live numbers for this house.

Assumptions & disclosures

Revenue from AirDNA Rentalizer, default comp set, read 13 Sep 2026, uplifted 20% to the level Property Management Brickell achieves on its own managed units. Cap rates are honest, unlevered NOI ÷ price (3.5% / 4.8% / 5.2%). 25%-down case uses a $492,750 mortgage (75% LTV, 7.25%, 30-yr); rates vary by lender.
  • Florida short-term-rental taxes (~13%) — Miami-Dade tourist + state sales tax — are collected from the guest and remitted; not an owner expense above but filed on every stay.
  • Property tax is estimated — the county currently bills $7,221 on this property, a homestead-capped or land-only assessment that does not transfer to a buyer. The pro-forma uses 2.0% of price (a non-homestead sale reassesses to about market); the county's first full bill may differ. Verify with the Property Appraiser.
  • No appreciation assumed in the yield figures. Not tax or lending advice — verify with your CPA and lender.