410 SE 2nd St #415 · Hallandale Beach, FL 33009

$139,000

1 bd · 1.0 ba · 755 sqft · Condo public records · 40 Days on market

Built 1973 $739/mo HOA · 25% of rent

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Location, Location, Location! Available unfurnished 1-bedroom, 1.5-bath condo located just across the street from The Village at Gulfstream Park in Hallandale Beach. Close to shopping, dining, and the beach. The unit features stainless steel appliances, and ceramic tile flooring throughout. Plenty of storage and comfortable living areas. 1 parking space included, and gust parking available. The building includes a secured lobby, community laundry facilities. Great amenities to include a large pool, picnic area with BBQ, and clubhouse. 55+ community — at least one resident must be 55 or older.

Key facts

• Secured lobby
• Large pool
• Picnic area with bbq

Tags

• STAINLESS STEEL APPLIANCES
• CERAMIC TILE FLOORING
• SECURED LOBBY
• COMMUNITY LAUNDRY FACILITIES
• LARGE POOL
• PICNIC AREA WITH BBQ

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $739; Association includes common area maintenance, building maintenance, pest control, pool(s), recreation facilities, sewer, trash, water, and laundry; Community amenities: clubhouse, elevator(s), barbecue, picnic area, pool; Senior community

Exterior

• Parking: One assigned parking space
• Security: Intercom
• Utilities: Public water; Public sewer; Electric service
• Home design: 4-story building; Property is attached; Entry on level 4
• Construction: Block construction; Resale property
• Exterior features: Barbecue; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fan(s)
• Interior features: Breakfast bar; Family/dining room; Walk-in closet(s)
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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: schools C-, 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.
• Market conditions: Rents flat; 1380 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,986/mo this rent would consume 69% 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 $961 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1973 — 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. 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.
7. 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.
8. 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: 2.15% ✓
• Cap rate: 11.58%
• Cash-on-cash: 18.89%
• DSCR: 1.84
• GRM: 3.9

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: 6.5%
• Equity multiple: 1.24×
• Total profit: $9,501
• Equity at exit: $20,725

10-year hold

• IRR: 12.3%
• Equity multiple: 1.80×
• Total profit: $31,328
• Equity at exit: $12,018

Cash invested: $38,920 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,986 high
• Mortgage (P&I): −$729
• Tax from tax record: −$220 /mo · $2,642/yr
• Insurance: −$58
• HOA: −$739
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $613

Break-even live

Break-even rent $2,210

Max offer price $139,000

Occupancy floor 74%

Sensitivity live

Price	-10% $691	-5% $652	+0% $613	+5% $573	+10% $534
Rent	-10% $377	-5% $495	+0% $613	+5% $731	+10% $849
Rate	-1.0pp $683	-0.5pp $648	base $613	+0.5pp $577	+1.0pp $540

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 32 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	25d	5	0.25mi
90 SW 3rd St Unit 2400 Hallandale Beach, FL	2.0	2.0	1079	$3,700	$3.43	25d	1	0.39mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	4d	2	0.42mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$1,892	$1.94	16d	48	0.47mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$2,840	$2.82	2d	62	0.95mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	25d	1	0.97mi
829 SW 1st St Hallandale Beach, FL	2.0	2.0	850	$1,985	$2.34	25d	1	1.04mi
220 SW 9th Ave #516 Hallandale Beach, FL	2.0	2.0	918	$2,200	$2.40	25d	1	1.11mi
220 SW 9th Ave #219 Hallandale Beach, FL	1.0	1.0	625	$1,550	$2.48	5d	1	1.11mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$1,580	$2.05	21d	2	1.13mi
1033 SW 3rd St Hallandale Beach, FL	2.0	1.0	875	$2,800	$3.20	25d	1	1.23mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$2,465	$2.92	2d	2	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$4,750	$4.35	25d	3	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$4,219	$3.94	21d	4	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$3,862	$3.82	2d	5	1.27mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	25d	1	1.28mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	25d	1	1.28mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	25d	1	1.28mi
230 SW 11th Ave #17 Hallandale Beach, FL	1.0	1.0	580	$1,390	$2.40	4d	1	1.36mi
832 NW 10th St Unit 1 Hallandale Beach, FL	2.0	1.0	800	$1,800	$2.25	25d	1	1.36mi
280 SW 11th Ave #5 Hallandale Beach, FL	1.0	1.0	580	$1,475	$2.54	25d	1	1.38mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$5,000	$4.64	25d	5	1.41mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$3,355	$3.54	4d	2	1.41mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	25d	1	1.44mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	4d	1	1.44mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	25d	1	1.44mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	23d	1	1.44mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	16d	2	1.44mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	8d	1	1.44mi
900 SW 11th Ave Unit 17C Hallandale Beach, FL	1.0	1.0	625	$1,600	$2.56	25d	1	1.48mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	8d	1	1.49mi
920 SW 11th Ave Unit 11D Hallandale Beach, FL	2.0	1.0	848	$1,695	$2.00	25d	1	1.50mi

HOA detail condo

• Monthly dues: $739 · $8,868/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $139,000 Active 40 DOM
2. 2026-06-18
   days on market $139,000 Active 37 DOM
3. 2026-06-17
   days on market $139,000 Active 36 DOM
4. 2026-06-16
   days on market $139,000 Active 35 DOM
5. 2026-06-15
   days on market $139,000 Active 34 DOM
6. 2026-06-13
   pricedays on market $139,000 Active 32 DOM
7. 2026-06-09
   days on market $149,000 Active 28 DOM
8. 2026-06-08
   days on market $149,000 Active 27 DOM
9. 2026-06-07
   days on market $149,000 Active 26 DOM
10. 2026-06-04
    days on market $149,000 Active 23 DOM
11. 2026-06-03
    days on market $149,000 Active 22 DOM
12. 2026-06-02
    days on market $149,000 Active 21 DOM
13. 2026-06-01
    days on market $149,000 Active 20 DOM
14. 2026-05-31
    days on market $149,000 Active 19 DOM
15. 2026-05-12
    listed $149,000 Active
16. 2005-10-11
    soldstatus $130,000
17. 2001-08-08
    soldstatus $35,000
18. 1988-01-01
    soldstatus $25,000

ⓘ 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: $2,642 · $220/mo
• Projected year-2 tax: $2,642 · $220/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: $35,828
• − Mortgage interest: −$7,786
• − Property taxes: −$2,642
• − Insurance: −$695
• − Repairs & maintenance: −$2,866
• − Management: −$2,866
• − HOA: −$8,868
• − Depreciation: −$4,044
• Taxable income: $6,061
• Est. tax owed @ 24.0%: −$1,455
• After-tax cash flow: $5,898/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

+496.0% since first listed

4 events — show timeline

• 2026-05-12 Listed $149,000 MARMLS
• 2005-10-11 Sold (Public Records) $130,000 Public Records
• 2001-08-08 Sold (Public Records) $35,000 Public Records
• 1988-01-01 Sold (Public Records) $25,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,642 · +2.8% YoY. Source: county tax records.