427 Golden Isles Dr Apt 16a · Hallandale Beach, FL 33009

$259,900

2 bd · 2.0 ba · 1,237 sqft · Condo public records · 27 Days on market

Built 1972 $865/mo HOA · 20% of rent

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Why this score? — see what drove the C+ 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 +24.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• 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

Gorgeous 2 bed, 2 bath penthouse offering breathtaking, unobstructed panoramic views of the ocean, city skyline, and Intracoastal. Enjoy spectacular sunsets from this bright, airy residence perched high above it all. Located in a prime, walkable neighborhood close to shopping, grocery stores, cafés, and restaurants. Perfectly situated between Miami International Airport and Fort Lauderdale-Hollywood International Airport for maximum convenience. A boat dock is available, making this home ideal for boating enthusiasts.

Key facts

• $865 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: No land lease; Pets not allowed; Community contains about 120 units
• HOA & community: Association: Golden Horn South Condominium; Monthly association fee (paid monthly); Association amenities include laundry, management, on-site manager, pool, parking, storage, trash chute, bike storage, community room, lobby, maintenance; Association fee covers electricity, insurance, grounds maintenance, pest control, sewer, trash, water, common areas, elevator, legal/accounting, roof repairs

Exterior

• Parking: Assigned parking; Asphalt parking; Boat access/parking; 1 open parking space (total 1 parking)
• Security: Entry phone/intercom; Additional security features
• Utilities: Public water; Public sewer; Water connected; Sewer connected
• Home design: Condominium, one level; Faces southwest; Resale unit; Located in a 15-story building (Golden Horn South Condominium)
• Construction: CBS construction; Concrete and other roofing; Concrete perimeter foundation; Built area approximately 1,237 (public records)
• Exterior features: Ocean access and Intracoastal waterfront with no fixed bridge; Asphalt road frontage; Other fencing; Other outbuildings/structures

Interior

• Kitchen: Dishwasher; Refrigerator; Disposal; Trash compactor; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Heat pump; Central individual cooling
• Interior features: Walk-in closets; Split bedroom layout; Custom mirrors; Intercom; Furnished negotiable
• Laundry & utility: Common area laundry; Outside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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); Hallandale High School (math 10% / reading 24%, grade F, #597 of 667 statewide, top 90%, 1,104 students, 70% FRL) — zoned schools average 71% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 48% district-wide (-21 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; 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 $4,288/mo this rent would consume 99% 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 $2k of loan paydown is wiped out by about $8k 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 27 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,001 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.65% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.19%
• DSCR: 1.41
• GRM: 5.1

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: -17.7%
• Equity multiple: 0.40×
• Total profit: $-43,640
• Equity at exit: $38,752

10-year hold

• IRR: -22.2%
• Equity multiple: 0.10×
• Total profit: $-65,510
• Equity at exit: $22,471

Cash invested: $72,772 (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: 5.1×

Monthly cashflow live

• Estimated rent: $4,288 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$494 /mo · $5,931/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$865
• Vacancy / Maint / Mgmt: −$901
• Net cashflow: $131

Break-even live

Break-even rent $4,123

Max offer price $259,900

Occupancy floor 92%

Sensitivity live

Price	-10% $278	-5% $204	+0% $131	+5% $57	+10% $-16
Rent	-10% $-208	-5% $-39	+0% $131	+5% $300	+10% $469
Rate	-1.0pp $262	-0.5pp $197	base $131	+0.5pp $63	+1.0pp $-5

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Golden Isles Dr #302 Hallandale Beach, FL	2.0	2.0	1150	$3,975	$3.46	25d	1	0.27mi
121 Golden Isles Dr #1 Hallandale Beach, FL	2.0	2.0	1379	$4,000	$2.90	25d	1	0.35mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	25d	1	0.38mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	25d	1	0.39mi
1745 E Hallandale Beach Blvd Unit 2302W Hallandale Beach, FL	3.0	2.0	1481	$3,900	$2.63	15d	1	0.39mi
1745 E Hallandale Beach Blvd Unit 802W Hallandale Beach, FL	3.0	2.0	1481	$3,600	$2.43	25d	1	0.39mi
1755 E Hallandale Beach Blvd Unit 2207E Hallandale Beach, FL	2.0	2.0	1354	$3,950	$2.92	25d	1	0.42mi
1755 E Hallandale Beach Blvd Unit 1407E Hallandale Beach, FL	2.0	2.0	1354	$3,650	$2.70	25d	1	0.42mi
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	0.47mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	21d	4	0.47mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$5,495	$5.44	2d	5	0.47mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	25d	3	0.47mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	25d	1	0.47mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	25d	1	0.47mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	25d	1	0.47mi
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	0.48mi
2017 S Ocean Dr #1107 Hallandale Beach, FL	2.0	2.0	1270	$3,900	$3.07	14d	1	0.50mi
1985 S Ocean Dr Unit 22P Hallandale Beach, FL	2.0	2.0	1380	$4,000	$2.90	25d	1	0.51mi
1985 S Ocean Dr Unit 21P Hallandale Beach, FL	2.0	2.0	1380	$3,800	$2.75	8d	1	0.51mi
1985 S Ocean Dr Unit 9G Hallandale Beach, FL	2.0	2.0	1240	$3,700	$2.98	25d	1	0.51mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	8d	2	0.53mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,500	$2.92	13d	2	0.53mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–2.5	1522	$3,650	$2.40	19d	3	0.53mi
1945 S Ocean Dr Hallandale Beach, FL	2.0–3.0	2.0–3.0	1542	$4,000	$2.59	15d	3	0.53mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	11d	1	0.56mi
2069 S Ocean Dr Unit TH12 Hallandale Beach, FL	3.0	3.0	1500	$4,800	$3.20	25d	1	0.56mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$5,897	$6.23	4d	2	0.60mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	25d	1	0.60mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	17d	1	0.60mi
1880 N Ocean Dr Unit TS705 Hallandale Beach, FL	2.0	2.0	1350	$4,900	$3.63	15d	1	0.60mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$7,250	$6.73	25d	5	0.62mi
1904 S Ocean Dr #1707 Hallandale Beach, FL	2.0	2.0	1350	$5,000	$3.70	25d	1	0.63mi
2723 E Hallandale Beach Blvd Unit 1049813P Hollywood, FL	3.0	2.0	1496	$6,498	$4.34	3d	1	0.63mi
2065 S Ocean Dr Unit 1049793P Hallandale Beach, FL	2.0	2.0	871	$4,971	$5.71	8d	1	0.64mi
4010 S Ocean Dr Unit R504 Hollywood, FL	3.0	2.0	1122	$10,000	$8.91	25d	1	0.64mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	25d	1	0.64mi
4010 S Ocean Dr Unit R2004 Hollywood, FL	3.0	2.0	1129	$7,500	$6.64	25d	1	0.64mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	4d	1	0.64mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	25d	1	0.64mi
4010 S Ocean Dr Unit R1108 Hollywood, FL	3.0	2.5	1361	$12,999	$9.55	25d	1	0.64mi

HOA detail condo

• Monthly dues: $865 · $10,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-29
   listed $259,900 Active
2. 2005-06-21
   soldstatus $264,286
3. 2005-04-20
   soldstatus $208,000
4. 1977-03-01
   soldstatus $49,300
5. 1976-04-01
   soldstatus $41,000

ⓘ 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: $5,931 · $494/mo
• Projected year-2 tax: $5,931 · $494/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥103°F today · 22 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: $51,459
• − Mortgage interest: −$14,558
• − Property taxes: −$5,931
• − Insurance: −$6,418
• − Repairs & maintenance: −$4,117
• − Management: −$4,117
• − HOA: −$10,380
• − Depreciation: −$7,561
• Taxable loss: −$1,622
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $1,958/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

+533.9% since first listed

5 events — show timeline

• 2026-04-29 Listed $259,900 Beaches MLS
• 2005-06-21 Sold (Public Records) $264,286 Public Records
• 2005-04-20 Sold (Public Records) $208,000 Public Records
• 1977-03-01 Sold (Public Records) $49,300 Public Records
• 1976-04-01 Sold (Public Records) $41,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $5,931 · -3.2% YoY. Source: county tax records.