410 SE 2nd St #102 · Hallandale Beach, FL 33009

$189,000

2 bd · 2.0 ba · 1,028 sqft · Condo public records · 94 Days on market

Built 1973 $896/mo HOA · 26% of rent

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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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• 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

Spacious 2bd/2ba corner unit in a desirable 55+ community, offering 1,074 square feet of tiled living space. Thoughtfully designed split-bedroom layout, abundant windows for natural light, and generous closet space throughout. Features include an eat-in kitchen with a window, white appliances, plus a fairly recent A/C and water heater. The complex has already completed its 50-year recertification and milestone inspection for added peace of mind. Vacant and easy to show. Prime location directly across from Gulfstream Racing & Casino, with shops, restaurants, and the beach just minutes away.

Key facts

• Recent water heater
• Milestone inspection
• Recent a/c

Tags

• CORNER UNIT
• EAT-IN KITCHEN
• RECENT A/C
• RECENT WATER HEATER
• 50-YEAR RECERTIFICATION
• MILESTONE INSPECTION

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly association fee of $896; Association covers management, common areas, insurance, laundry, grounds maintenance, parking, pest control, pool(s), sewer, trash and water; Community amenities include laundry, barbecue/picnic area, pool and tennis courts; Senior community

Exterior

• Parking: One assigned parking space
• Security: Lobby secured; High-impact doors
• Utilities: Heated community pool
• Home design: Attached property; 4-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/patio; Barbecue area; Security/high-impact doors; Lobby with secured entry

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: First-floor entry; Split bedroom floor plan
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $172k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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; 1373 active listings in the ZIP; 40 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 $3,502/mo this rent would consume 81% 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 $6k 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 94 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $85k; list at $189k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $171,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.85% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 4.5

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-5,149
• Equity at exit: $28,181

10-year hold

• IRR: 2.2%
• Equity multiple: 1.13×
• Total profit: $7,013
• Equity at exit: $16,341

Cash invested: $52,920 (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: 1373
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,502 high
• Mortgage (P&I): −$991
• Tax from tax record: −$272 /mo · $3,263/yr
• Insurance: −$79
• HOA: −$896
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $529

Break-even live

Break-even rent $2,833

Max offer price $189,000

Occupancy floor 80%

Sensitivity live

Price	-10% $636	-5% $582	+0% $529	+5% $475	+10% $422
Rent	-10% $252	-5% $390	+0% $529	+5% $667	+10% $805
Rate	-1.0pp $624	-0.5pp $577	base $529	+0.5pp $480	+1.0pp $430

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 SE 4th St #3 Hallandale Beach, FL	3.0	2.5	1290	$3,950	$3.06	24d	1	0.22mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	24d	5	0.25mi
110 N Federal Hwy #1401 Hallandale Beach, FL	2.0	2.0	1220	$3,999	$3.28	8d	1	0.28mi
90 SW 3rd St Unit 2400 Hallandale Beach, FL	2.0	2.0	1079	$3,700	$3.43	24d	1	0.39mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$5,453	$6.46	4d	2	0.42mi
401 N Federal Hwy Hallandale Beach, FL	1.0–3.0	1.0–2.0	973	$2,765	$2.84	15d	48	0.47mi
707 SW 3rd Ave Hallandale Beach, FL	3.0	2.0	1369	$5,500	$4.02	5d	1	0.61mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	5d	1	0.68mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	24d	1	0.68mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	12d	1	0.68mi
223 SW 10th St Hallandale Beach, FL	3.0	3.0	1289	$3,900	$3.03	24d	1	0.76mi
1124 NE 7th St Hallandale Beach, FL	3.0	2.0	1320	$3,900	$2.95	22d	1	0.79mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	15d	1	0.85mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	24d	1	0.85mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	24d	1	0.85mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	24d	1	0.86mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	24d	1	0.86mi
644 SW 7th Ct Hallandale Beach, FL	3.0	2.0	1492	$3,800	$2.55	3d	1	0.88mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$3,480	$3.46	2d	62	0.95mi
1001 NE 10th St Unit 2 Hallandale Beach, FL	3.0	2.0	1270	$3,600	$2.83	24d	1	0.95mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	24d	1	0.97mi
829 SW 1st St Hallandale Beach, FL	2.0	2.0	850	$1,985	$2.34	24d	1	1.04mi
220 SW 9th Ave #516 Hallandale Beach, FL	2.0	2.0	918	$2,200	$2.40	24d	1	1.11mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$2,200	$2.85	21d	2	1.13mi
839 SW 8th St #1 Hallandale Beach, FL	2.0	1.5	1300	$1,500	$1.15	22d	1	1.13mi
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	24d	1	1.14mi
1528 Wiley St Hollywood, FL	2.0	1.0	1488	$4,100	$2.76	24d	1	1.18mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	24d	1	1.22mi
1033 SW 3rd St Hallandale Beach, FL	2.0	1.0	875	$2,800	$3.20	24d	1	1.23mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$4,219	$5.00	2d	2	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	21d	4	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	24d	3	1.27mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$5,495	$5.44	2d	5	1.27mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	1.28mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	1.28mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	1.28mi
1056 SW 2nd St Unit 1056 Hallandale Beach, FL	3.0	2.0	1000	$3,300	$3.30	24d	1	1.28mi
401 SW 10th Ter Unit A Hallandale Beach, FL	2.0	1.0	1200	$2,400	$2.00	21d	1	1.30mi
2500 Parkview Dr #2518 Hallandale Beach, FL	2.0	2.0	1280	$4,000	$3.12	8d	1	1.32mi
2500 Parkview Dr #2518 Hallandale Beach, FL	2.0	2.0	1280	$4,000	$3.12	14d	1	1.32mi

HOA detail condo

• Monthly dues: $896 · $10,752/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $189,000 Active 94 DOM
2. 2026-06-17
   days on market $189,000 Active 93 DOM
3. 2026-06-16
   days on market $189,000 Active 92 DOM
4. 2026-06-15
   days on market $189,000 Active 91 DOM
5. 2026-06-13
   days on market $189,000 Active 89 DOM
6. 2026-06-09
   days on market $189,000 Active 85 DOM
7. 2026-06-08
   days on market $189,000 Active 84 DOM
8. 2026-06-07
   days on market $189,000 Active 83 DOM
9. 2026-06-04
   days on market $189,000 Active 80 DOM
10. 2026-06-03
    days on market $189,000 Active 79 DOM
11. 2026-06-02
    days on market $189,000 Active 78 DOM
12. 2026-06-01
    days on market $189,000 Active 77 DOM
13. 2026-05-31
    days on market $189,000 Active 76 DOM
14. 2026-04-22
    price $189,000
15. 2026-03-16
    listed $194,000 Active
16. 2026-01-22
    historical
17. 2025-10-16
    listed $195,000 Active
18. 2003-06-17
    soldstatus $85,000
19. 2000-11-07
    soldstatus $70,000
20. 1999-01-27
    soldstatus $47,000
21. 1999-01-27
    soldstatus $47,000

ⓘ 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: $3,263 · $272/mo
• Projected year-2 tax: $3,263 · $272/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: $42,025
• − Mortgage interest: −$10,587
• − Property taxes: −$3,263
• − Insurance: −$945
• − Repairs & maintenance: −$3,362
• − Management: −$3,362
• − HOA: −$10,752
• − Depreciation: −$5,498
• Taxable income: $4,256
• Est. tax owed @ 24.0%: −$1,021
• After-tax cash flow: $5,325/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

+302.1% since first listed

8 events — show timeline

• 2026-04-22 Price Changed $189,000 MARMLS
• 2026-03-16 Listed $194,000 MARMLS
• 2026-01-22 Listing Removed — MARMLS
• 2025-10-16 Listed $195,000 MARMLS
• 2003-06-17 Sold (Public Records) $85,000 Public Records
• 2000-11-07 Sold (Public Records) $70,000 Public Records
• 1999-01-27 Sold (Public Records) $47,000 Public Records
• 1999-01-27 Sold (Public Records) $47,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $3,263 · +2.9% YoY. Source: county tax records.