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+41 photosLuxury home — 407 S 56th Terrace · Lawn Acres · Hollywood
South Florida Luxury Living
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Open property magazine$750,000
407 S 56th Terrace, Hollywood, FL 33023
Hollywood, FL, 33023
5 bd · 2 ba · 1,603 sqft
Listed by The Real Estate Lab, Inc.
407 S 56th Terrace, Hollywood, FL 33023
Listed by The Real Estate Lab, Inc.
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Estimated monthly payment
$5,306/mo
Know your costs before you buy
Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.
Estimated monthly payment $5,306/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.
Cash to close includes the down payment, lender and title costs, taxes, insurance prepayments and escrow deposits. Editable estimate only.
Insurance and flood: AH · verify insurance quotes before buying.
About this home
Find similar homesMore space. More privacy. More home sweet home. Nestled in Hollywood's established Lawn Acres neighborhood, this spacious and versatile pool home offers the flexibility today's buyers are searching for. Perfect for a growing family, multigenerational living, guests, or investment opportunities, the home provides room to create the lifestyle you want.Lawn Acres is one of Hollywood's best-kept secrets, known for its welcoming community, large lots , tree-lined streets, no HOA restrictions, and convenient location between Miami and Fort Lauderdale. Enjoy being just minutes from Hollywood Beach, Downtown Hollywood, Memorial Regional Hospital, Fort Lauderdale-Hollywood International Airport, shopping, dining, and major highways. A rare opportunity to own a home where comfort, convenience, and true South Florida living come together. It's the kind of neighborhood where neighbors stay for years and new buyers are eager to get in.
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
Price reduced 6%
The seller has come down from $799,000 to $750,000 — a $49,000 reduction since it came on the market.
94 days on market
Longer time on market usually means the seller is more open to negotiating on price and terms.
Price reductions and days on market come from this listing's MLS record. This is an initial market signal, not a formal appraisal or full comparable market analysis.
Property Details
Your costs (est.)
≈ $5,306/mo
407 S 56th Terrace, Hollywood, FL 33023 · Hollywood
Location
407 S 56th Terrace, Hollywood, FL 33023
What buyers ask about this home
What are the estimated monthly carrying costs at 407 S 56th Terrace, Hollywood, FL 33023?+
Property tax (after sale): $1,068/month est.; homeowners insurance: $346/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $1,414/month est. Principal and interest: $3,892/month; PMI: $0/month. Total for the payment scenario shown: $5,306/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.
Will property taxes go up after I buy 407 S 56th Terrace, Hollywood, FL 33023?+
Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.
Does 407 S 56th Terrace, Hollywood, FL 33023 need flood insurance, and what drives the premium?+
Most of Hollywood sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.
What should an inspection focus on for a home like 407 S 56th Terrace, Hollywood, FL 33023?+
In coastal South Florida, prioritize roof age and permit history, whether windows and doors are impact-rated, the seawall and dock condition on waterfront lots, drainage and elevation, plumbing type (cast iron and polybutylene are common in homes of this era), and any open or expired permits with the city. These items, not cosmetics, drive both price and insurability.
What extra costs come with the pool at 407 S 56th Terrace, Hollywood, FL 33023?+
A pool typically adds ongoing service, chemicals and electricity, plus periodic resurfacing and equipment replacement. Verify the safety barrier meets Florida code, which is required for insurance and resale.
Is there room to negotiate on 407 S 56th Terrace, Hollywood, FL 33023?+
This listing has been on the market 94 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.
Neighborhood & Commute
Located in Hollywood, this property offers the South Florida lifestyle — warm-weather living year-round with easy access to the Atlantic coast, A-rated schools, and major business centers.
Approximate Drive Times
Drive times are estimates based on straight-line distance at typical South Florida traffic speeds. Actual times vary with traffic and routing.
Assigned schools for this address
Olsen Middle
Middle school
Zone boundaries published by Broward County Public Schools.
Other options for this address
Championship Academy Of Distinction At Hollywood
Elementary · Charter · Grades PK–5 · Hollywood
Championship Academy Of Distinction Middle School
Middle school · Charter · Grades 6–8 · Hollywood
Aukela Christian Military Academy
Pre-K & Kindergarten · Private · Christian · Grades K–12 · West Park
Sheridan Hills Christian School
Pre-K & Kindergarten · Private · Christian · Grades PK–12 · Hollywood
Love Outreach Christian Academy
Pre-K & Kindergarten · Private · Christian · Grades 4–12 · Miramar
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
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Open the magazine
Simon Gedz
Realtor® since 1995
Interested in this property?
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