224 SE 9th Ct Unit 1-4 · Hallandale Beach, FL 33009

$879,000

None bd · None ba · 1,575 sqft · MultiFamily public records · 33 Days on market

Built 1953 9,903 sqft lot Est $597k · 47% over

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Why this score? — see what drove the D 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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

The property at 224 SE 9th Ct. , Hallandale Beach, FL 33009 is a multifamily 4-plex located on a 9,903 SF lot within the Central RAC zoning district. This zoning designation allows redevelopment potential of up to 12 residential units. Neighborhood & Development Trends: The Southeastern Core Corridor of Hallandale Beach is experiencing significant new development, with upscale office, retail, and residential projects transforming the area into a high-end mixed-use hub. Major Redevelopment Potential: Given its Central RAC zoning, the property has the flexibility to be expanded into a higher-density residential development, which is attractive for investors looking to capitalize on the

Key facts

• Multifamily 4-plex
• Central rac zoning
• 9,903 sq ft lot

Tags

• MULTIFAMILY 4-PLEX
• REDEVELOPMENT POTENTIAL
• CENTRAL RAC ZONING
• SOUTHEASTERN CORE CORRIDOR
• HIGH-END MIXED-USE HUB

Property features AI

Finance

• Financial info: Two total units on the parcel, four units in the community; Gross income: $50,400; Net operating income: $32,256; Tenants pay electricity; Pets allowed with no restrictions

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected; Water available; Four separate electric meters
• Home design: Quadruplex; One story; City street frontage
• Construction: Stucco and CBS construction; Composition roof; Slab foundation; Built as a single-story building
• Exterior features: Chain link front-yard fencing with gate; Fenced yard; Room for a pool; Asphalt city street frontage; Not waterfront

Interior

• Flooring: Ceramic tile
• Heating & cooling: Window/wall heating; Ceiling fans; Wall/window cooling units
• Interior features: Ceramic tile floors

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $879k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive. Per door: $103/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $872k (0.7% below list).
• Recommended offer: $853k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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); Hallandale High School (math 10% / reading 24%, grade F, #597 of 667 statewide, top 90%, 1,104 students, 70% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 1384 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $8,725/mo this rent would consume 201% 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 $6k of loan paydown is wiped out by about $26k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($853k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $879k implies a 1498% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $852,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $596,925
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 SW 10th St	0.54mi	6/3.0	1,611 (+2%)	23mo	$610,000	$379	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-137,773
• Equity at exit: $131,062

10-year hold

• IRR: -13.6%
• Equity multiple: 0.31×
• Total profit: $-170,321
• Equity at exit: $76,000

Cash invested: $246,120 (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: 1384
• Price-to-rent: 33.6×

Monthly cashflow live

• Estimated rent: $8,725 medium
• Mortgage (P&I): −$4,610
• Tax from tax record: −$1,078 /mo · $12,933/yr
• Insurance: −$366
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,832
• Net cashflow: $413

Break-even live

Break-even rent $8,203

Max offer price $879,000

Occupancy floor 90%

Sensitivity live

Price	-10% $910	-5% $661	+0% $413	+5% $164	+10% $-85
Rent	-10% $-277	-5% $68	+0% $413	+5% $757	+10% $1,102
Rate	-1.0pp $855	-0.5pp $636	base $413	+0.5pp $185	+1.0pp $-47

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,724
Total (4 units)			$8,725

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: $219,750
• Closing costs: $26,370
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	26d	5	0.37mi
223 SW 10th St Hallandale Beach, FL	3.0	3.0	1289	$3,900	$3.03	26d	1	0.39mi
707 SW 3rd Ave Hallandale Beach, FL	3.0	2.0	1369	$5,500	$4.02	7d	1	0.42mi
211 SE 4th St #3 Hallandale Beach, FL	3.0	2.5	1290	$3,950	$3.06	26d	1	0.43mi
301 SW 5th St Hallandale Beach, FL	2.0	2.0	1792	$4,000	$2.23	23d	1	0.52mi
90 SW 3rd St Unit 2400 Hallandale Beach, FL	2.0	2.0	1079	$3,700	$3.43	26d	1	0.54mi
644 SW 7th Ct Hallandale Beach, FL	3.0	2.0	1492	$3,800	$2.55	5d	1	0.70mi
110 N Federal Hwy #1401 Hallandale Beach, FL	2.0	2.0	1220	$3,999	$3.28	10d	1	0.84mi
232 SW 7th Ave Hallandale Beach, FL	3.0	2.5	1941	$3,900	$2.01	17d	1	0.84mi
232 SW 7th Ave Hallandale Beach, FL	3.0	2.5	1941	$3,700	$1.91	26d	1	0.84mi
839 SW 8th St #1 Hallandale Beach, FL	2.0	1.5	1300	$1,500	$1.15	24d	1	0.92mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$2,765	$2.84	17d	48	1.03mi
401 SW 10th Ter Unit A Hallandale Beach, FL	2.0	1.0	1200	$2,400	$2.00	23d	1	1.22mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	7d	1	1.24mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	26d	1	1.24mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	14d	1	1.24mi
1745 E Hallandale Beach Blvd Ph 05W Hallandale Beach, FL	3.0	3.0	1715	$5,000	$2.92	5d	1	1.24mi
1101 NE 5th St Hallandale Beach, FL	2.0	2.0	2200	$6,200	$2.82	19d	1	1.25mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	26d	1	1.26mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	26d	1	1.26mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	17d	1	1.26mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	26d	1	1.27mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	26d	1	1.27mi
1124 NE 6th St Hallandale Beach, FL	3.0	2.0	1892	$5,495	$2.90	26d	1	1.30mi
322 SW 11th Ave Hallandale Beach, FL	3.0	1.0	1200	$2,699	$2.25	26d	1	1.30mi
1077 SW 2nd St Unit 2 Hallandale Beach, FL	2.0	1.0	1829	$2,500	$1.37	10d	1	1.32mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	26d	1	1.33mi
1124 NE 7th St Hallandale Beach, FL	3.0	2.0	1320	$3,900	$2.95	24d	1	1.34mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	26d	1	1.44mi
2017 S Ocean Dr #1107 Hallandale Beach, FL	2.0	2.0	1270	$3,900	$3.07	16d	1	1.46mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$3,472	$3.45	1d	63	1.47mi
2069 S Ocean Dr Unit TH16 Hallandale Beach, FL	3.0	3.0	1614	$4,500	$2.79	5d	1	1.49mi
2069 S Ocean Dr Unit TH16 Hallandale Beach, FL	3.0	3.0	1614	$4,500	$2.79	26d	1	1.49mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	26d	1	1.49mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	13d	1	1.49mi

Listing history 17 events

1. 2026-06-22
   days on market $879,000 Active 33 DOM
2. 2026-06-21
   days on market $879,000 Active 32 DOM
3. 2026-06-18
   days on market $879,000 Active 29 DOM
4. 2026-06-17
   days on market $879,000 Active 28 DOM
5. 2026-06-16
   days on market $879,000 Active 27 DOM
6. 2026-06-15
   days on market $879,000 Active 26 DOM
7. 2026-06-13
   days on market $879,000 Active 24 DOM
8. 2026-06-09
   days on market $879,000 Active 20 DOM
9. 2026-06-08
   days on market $879,000 Active 19 DOM
10. 2026-06-07
    days on market $879,000 Active 18 DOM
11. 2026-06-04
    days on market $879,000 Active 15 DOM
12. 2026-06-03
    days on market $879,000 Active 14 DOM
13. 2026-06-02
    days on market $879,000 Active 13 DOM
14. 2026-06-01
    days on market $879,000 Active 12 DOM
15. 2026-05-31
    days on market $879,000 Active 11 DOM
16. 2026-05-20
    listed $879,000 Active
17. 1977-12-01
    soldstatus $55,000

ⓘ 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: $12,933 · $1,078/mo
• Projected year-2 tax: $12,933 · $1,078/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 7/10 Severe FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 26 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: $104,700
• − Mortgage interest: −$49,238
• − Property taxes: −$12,933
• − Insurance: −$9,514
• − Repairs & maintenance: −$8,376
• − Management: −$8,376
• − Depreciation: −$25,571
• Taxable loss: −$9,307
• Est. tax savings @ 24.0%: +$2,234
• After-tax cash flow: $7,185/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

+1498.2% since first listed

2 events — show timeline

• 2026-05-20 Listed $879,000 Beaches MLS
• 1977-12-01 Sold (Public Records) $55,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $12,933 · +14.8% YoY. Source: county tax records.