421 NE 1st St #219 · Hallandale Beach, FL 33009

$154,000

1 bd · 1.0 ba · 646 sqft · Condo public records · 45 Days on market

Built 1970 $410/mo HOA · 21% of rent

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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 +13.6/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * SHORT SALE * * * SPACIOUS ALL AGES CONDO IN QUIET COMMUNITY FEATURES NEW KITCHEN WITH WOOD CABINETS W/ SLIDE-OUT DRAWERS - NEW APPLIANCES INCLUDE SMOOTH-TOP RANGE, BUILT-IN MICROWAVE, DISHWASHER, REFRIGERATOR W/ ICEMAKER - WOOD LAMINATE FLOORS THROUGHOUT LI VING AREAS & BERBER CARPET IN BEDROOM - LARGE WALK-IN UTILITY CLOSET AND WALK-IN CLOSET IN BEDROOM - UPDATED VANITY IN BATHROOM - SCREENED PORCH ENTRY - MOVE-IN READY AND PRICED RIGHT - NO LEASING FIRST YEAR - TERMS SUBJECT TO LENDER APPROVAL

Key facts

• Move-in ready
• Desirable location
• Private patio

Tags

• PRIVATE PATIO
• FULLY FURNISHED
• MOVE-IN READY
• DESIRABLE LOCATION
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $410; Association fee covers management, amenities, insurance, laundry, grounds maintenance, structure maintenance, and pool(s); Association amenities include community kitchen, pool, and elevator(s); Community contains 41 units

Exterior

• Parking: One assigned parking space
• Security: Complex fenced
• Utilities: Cable available
• Home design: 2-story building; Unit entry on level 2; Attached property
• Construction: Block construction; Resale property
• Exterior features: Patio; Barbecue area; Fruit trees; Exterior lighting; Complex is fenced; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Bedroom on main level; Living/dining room; Blinds; Impact glass windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $154k.

Deal economics

• At list price, monthly cash flow is $8 ($98/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $149k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 5.2% in Hallandale Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 1380 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $1,957/mo this rent would consume 45% 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 $1k of loan paydown is wiped out by about $5k 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 45 days — a 3% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $154k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $149,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.27% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.0%
• Equity multiple: 0.33×
• Total profit: $-29,049
• Equity at exit: $22,962

10-year hold

• IRR: -23.7%
• Equity multiple: 0.01×
• Total profit: $-42,553
• Equity at exit: $13,315

Cash invested: $43,120 (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: 1380
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,957 high
• Mortgage (P&I): −$808
• Tax from tax record: −$256 /mo · $3,071/yr
• Insurance: −$64
• HOA: −$410
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $8

Break-even live

Break-even rent $1,946

Max offer price $154,000

Occupancy floor 95%

Sensitivity live

Price	-10% $95	-5% $52	+0% $8	+5% $-35	+10% $-79
Rent	-10% $-146	-5% $-69	+0% $8	+5% $85	+10% $163
Rate	-1.0pp $86	-0.5pp $47	base $8	+0.5pp $-32	+1.0pp $-72

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	17d	48	0.20mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	5d	2	0.51mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$2,823	$2.81	0d	63	0.66mi
820 SW 1st Pl Hallandale Beach, FL	2.0	1.0	430	$1,675	$3.90	26d	1	1.00mi
220 SW 9th Ave Hallandale Beach, FL	1.0	1.0	625	$1,575	$2.52	0d	2	1.10mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$1,580	$2.05	22d	2	1.10mi
836 NW 10th St Unit 4 Hallandale Beach, FL	—	1.0	423	$1,250	$2.96	26d	1	1.17mi
840 NW 10th St Unit 8 Hallandale Beach, FL	1.0	1.0	441	$1,400	$3.17	26d	1	1.17mi
2602 E Hallandale Beach Blvd Unit 1227270P Hallandale Beach, FL	2.0	1.0–2.0	640	$3,224	$5.04	0d	3	1.30mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	3d	2	1.31mi
230 SW 11th Ave #17 Hallandale Beach, FL	1.0	1.0	580	$1,390	$2.40	5d	1	1.34mi
1041 NW 7th Ct Unit 2 Hallandale Beach, FL	1.0	1.0	600	$1,550	$2.58	26d	1	1.34mi
280 SW 11th Ave #5 Hallandale Beach, FL	1.0	1.0	580	$1,475	$2.54	26d	1	1.37mi
340 SW 11th Ave Unit 2A Hallandale Beach, FL	1.0	1.0	466	$1,575	$3.38	12d	1	1.39mi
1046 Foster Rd Hallandale Beach, FL	2.0	1.0	750	$1,795	$2.39	9d	1	1.41mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-18
   status Pending
2. 2026-05-16
   historical Active Under Contract
3. 2026-04-28
   price $154,000
4. 2026-04-03
   listed $159,000 Active
5. 2011-06-07
   soldstatus $40,000
6. 2011-05-27
   soldstatus $40,000 516-char remark

   Show marketing remark (516 chars)

   * * * SHORT SALE * * * SPACIOUS ALL AGES CONDO IN QUIET COMMUNITY FEATURES NEW KITCHEN WITH WOOD CABINETS W/ SLIDE-OUT DRAWERS - NEW APPLIANCES INCLUDE SMOOTH-TOP RANGE, BUILT-IN MICROWAVE, DISHWASHER, REFRIGERATOR W/ ICEMAKER - WOOD LAMINATE FLOORS THROUGHOUT LI VING AREAS & BERBER CARPET IN BEDROOM - LARGE WALK-IN UTILITY CLOSET AND WALK-IN CLOSET IN BEDROOM - UPDATED VANITY IN BATHROOM - SCREENED PORCH ENTRY - MOVE-IN READY AND PRICED RIGHT - NO LEASING FIRST YEAR - TERMS SUBJECT TO LENDER APPROVAL

7. 2002-09-09
   soldstatus $52,900
8. 2001-06-07
   soldstatus $38,500
9. 1985-10-01
   soldstatus $36,000
10. 1978-04-01
    soldstatus $22,000

ⓘ 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: $3,071 · $256/mo
• Projected year-2 tax: $3,071 · $256/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,481
• − Mortgage interest: −$8,626
• − Property taxes: −$3,071
• − Insurance: −$770
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − HOA: −$4,920
• − Depreciation: −$4,480
• Taxable loss: −$2,143
• Est. tax savings @ 24.0%: +$514
• After-tax cash flow: $612/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

+600.0% since first listed

10 events — show timeline

• 2026-05-18 Pending — MARMLS
• 2026-05-16 Contingent — MARMLS
• 2026-04-28 Price Changed $154,000 MARMLS
• 2026-04-03 Listed $159,000 MARMLS
• 2011-06-07 Sold (Public Records) $40,000 Public Records
• 2011-05-27 Sold (MLS) $40,000 MARMLS
• 2002-09-09 Sold (Public Records) $52,900 Public Records
• 2001-06-07 Sold (Public Records) $38,500 Public Records
• 1985-10-01 Sold (Public Records) $36,000 Public Records
• 1978-04-01 Sold (Public Records) $22,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $3,071 · +7.8% YoY. Source: county tax records.