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+13 photosLuxury home — 540 S Rainbow Drive · Hollywood Hills · Hollywood
South Florida Luxury Living
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Open property magazine$609,900
540 S Rainbow Drive, Hollywood, FL 33021
Hollywood, FL, 33021
3 bd · 2 ba · 1,506 sqft
Listed by Compass Florida, LLC
540 S Rainbow Drive, Hollywood, FL 33021
Listed by Compass Florida, LLC
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Estimated monthly payment
$4,425/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 $4,425/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: X · verify insurance quotes before buying.
About this home
Find similar homesYour Hollywood Hills lifestyle awaits! This charming 3-bedroom, 2-bath pool home with garage, offers the perfect blend of comfort, privacy, and South Florida living. Step outside to your own private backyard oasis, complete with a sparkling pool and brand-new pool pump. Additional updates include a 2018 Roof, 2020 A/C, and brand-new shutters. Nestled in the desirable Hollywood Hills neighborhood, this home puts you close to parks, shopping, dining, Downtown Hollywood, beautiful beaches, and major roadways. A wonderful opportunity to call one of Hollywood’s established neighborhoods home!
Property Details
Your costs (est.)
≈ $4,425/mo
540 S Rainbow Drive, Hollywood, FL 33021 · Hollywood
Location
540 S Rainbow Drive, Hollywood, FL 33021
What buyers ask about this home
What are the estimated monthly carrying costs at 540 S Rainbow Drive, Hollywood, FL 33021?+
Property tax (after sale): $934/month est.; homeowners insurance: $327/month est.; HOA: $0/month. Fixed ownership costs before a mortgage: $1,261/month est. Principal and interest: $3,165/month; PMI: $0/month. Total for the payment scenario shown: $4,425/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 540 S Rainbow Drive, Hollywood, FL 33021?+
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 540 S Rainbow Drive, Hollywood, FL 33021 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 540 S Rainbow Drive, Hollywood, FL 33021?+
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 540 S Rainbow Drive, Hollywood, FL 33021?+
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 540 S Rainbow Drive, Hollywood, FL 33021?+
This listing has been on the market 37 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
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
Grace And Faith International Academy
Elementary · Private · Christian · Grades K–2 · Hollywood
Championship Academy Of Distinction Middle School
Middle school · Charter · Grades 6–8 · Hollywood
Hollywood Academy Of Arts And Science Middle School
Middle school · Charter · Grades 6–8 · Hollywood
Aukela Christian Military Academy
Pre-K & Kindergarten · Private · Christian · Grades K–12 · West Park
Guidepost Montessori At Hollywood Beach
Pre-K & Kindergarten · Private · Grades PK–12 · Hollywood
Guidepost Montessori At Hollywood Beach
Pre-K & Kindergarten · Private · Grades PK–12 · Hollywood
Sheridan Hills Christian School
Pre-K & Kindergarten · Private · Christian · Grades PK–12 · Hollywood
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
The home, in a magazine
A closer look at this home and its lifestyle — dedicated to you and your family.
Open the magazine
Simon Gedz
Realtor® since 1995
Interested in this property?
$609,900 · MLS A12100630
$609,900
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