421 NE 1st St #101 · Hallandale Beach, FL 33009

$270,000

2 bd · 2.0 ba · 950 sqft · Condo public records · 6 Days on market

Built 1970 $531/mo HOA · 15% 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 +21.8/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 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

Spacious corner unit in well-maintained condo in heart of Hallandale Beach. Walk to market, transportation, Gulfstream, minutes to beaches and Broadwalk. Unit is tiled throughout. Condo has nice recreation room, shuffleboard and lovely pool. Small building, only 2 stories, private and cozy, yet in the middle of all the action in surrounding area. Can lease immediately too. Great 2nd home for cold, snowy winters up north, or full-time residence in one of the best areas of South Florida. .. your choice!

Key facts

• Corner unit
• Tile flooring
• $531 HOA

Tags

• CORNER UNIT
• TILE FLOORING
• STAINLESS STEEL APPLIANCES
• ASSIGNED PARKING SPACE
• WALKING DISTANCE TO MARKETS
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee of $531; Association covers amenities, structure maintenance, pool(s), sewer, trash and water; Association amenities include a pool

Exterior

• Parking: 1-car garage; 1 covered parking space
• Home design: 2-story condo (Strand Plaza Condo); Attached property; Entry level: 1
• Construction: Block construction; Resale property
• Exterior features: Association pool

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Cap rate 8.2% 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; 37 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 $3,598/mo this rent would consume 83% 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago 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 $129k; list at $270k implies a 109% gain — meaningful room to come down on a strong offer.

Recommended offer $270,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 6.3

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: -9.6%
• Equity multiple: 0.66×
• Total profit: $-25,776
• Equity at exit: $40,258

10-year hold

• IRR: -5.2%
• Equity multiple: 0.71×
• Total profit: $-21,868
• Equity at exit: $23,345

Cash invested: $75,600 (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: 6.3×

Monthly cashflow live

• Estimated rent: $3,598 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$364 /mo · $4,370/yr
• Insurance: −$112
• HOA: −$531
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $418

Break-even live

Break-even rent $3,068

Max offer price $270,000

Occupancy floor 83%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 37 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	$2,765	$2.84	15d	48	0.20mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	12d	1	0.46mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	5d	1	0.46mi
906 NE 6th St Hallandale Beach, FL	3.0	2.0	1080	$4,250	$3.94	24d	1	0.46mi
215 SE 5th St Hallandale Beach, FL	2.0–3.0	2.0	1133	$2,700	$2.38	24d	5	0.47mi
90 SW 3rd St Unit 2400 Hallandale Beach, FL	2.0	2.0	1079	$3,700	$3.43	24d	1	0.48mi
1180 E Hallandale Beach Blvd Unit 1241877P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$5,453	$6.46	3d	2	0.51mi
200 E Pembroke Rd Hallandale Beach, FL	3.0	1.0–2.0	1006	$3,480	$3.46	1d	62	0.66mi
101 Diplomat Pkwy Hallandale Beach, FL	1.0	1.0	859	$3,740	$4.35	24d	1	0.99mi
829 SW 1st St Hallandale Beach, FL	2.0	2.0	850	$1,985	$2.34	24d	1	1.00mi
220 SW 9th Ave #516 Hallandale Beach, FL	2.0	2.0	918	$2,200	$2.40	24d	1	1.08mi
220 SW 9th Ave #219 Hallandale Beach, FL	1.0	1.0	625	$1,550	$2.48	4d	1	1.08mi
220 SW 9th Ave Hallandale Beach, FL	1.0–2.0	1.0–2.0	771	$2,200	$2.85	20d	2	1.10mi
832 NW 10th St Unit 1 Hallandale Beach, FL	2.0	1.0	800	$1,800	$2.25	24d	1	1.16mi
1033 SW 3rd St Hallandale Beach, FL	2.0	1.0	875	$2,800	$3.20	24d	1	1.22mi
1056 SW 2nd St Unit 1056 Hallandale Beach, FL	3.0	2.0	1000	$3,300	$3.30	24d	1	1.25mi
2601 E Hallandale Beach Blvd Unit 1227344P Hallandale Beach, FL	1.0–2.0	1.0–2.0	844	$4,219	$5.00	1d	2	1.31mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1070	$5,950	$5.56	20d	4	1.32mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	1.0–2.0	1.0–2.0	1092	$5,950	$5.45	24d	3	1.32mi
2602 E Hallandale Beach Blvd Hallandale Beach, FL	3.0	1.0–3.0	1011	$5,495	$5.44	1d	5	1.32mi
2600 E Hallandale Beach Blvd Unit T3307 Hallandale Beach, FL	2.0	2.0	1030	$4,500	$4.37	24d	1	1.32mi
2600 E Hallandale Beach Blvd Unit T3208 Hallandale Beach, FL	2.0	2.0	1030	$6,950	$6.75	24d	1	1.32mi
2600 E Hallandale Beach Blvd Unit T3110 Hallandale Beach, FL	2.0	2.0	1028	$3,650	$3.55	24d	1	1.32mi
230 SW 11th Ave #17 Hallandale Beach, FL	1.0	1.0	580	$1,390	$2.40	3d	1	1.34mi
1041 NW 7th Ct Unit 2 Hallandale Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	1.34mi
280 SW 11th Ave #5 Hallandale Beach, FL	1.0	1.0	580	$1,475	$2.54	24d	1	1.37mi
1046 Foster Rd Hallandale Beach, FL	2.0	1.0	750	$1,795	$2.39	7d	1	1.41mi
4010 S Ocean Dr Hollywood, FL	1.0–3.0	1.0–3.5	1078	$7,250	$6.73	24d	5	1.44mi
2721 E Hallandale Beach Blvd Unit 1049818P Hollywood, FL	1.0–2.0	1.0–2.0	946	$5,897	$6.23	3d	2	1.45mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	24d	1	1.48mi
4010 S Ocean Dr Unit 1388506P Hollywood, FL	2.0	2.0	1097	$4,881	$4.45	7d	1	1.48mi
4010 S Ocean Dr Unit R2102 Hollywood, FL	2.0	2.0	1075	$6,500	$6.05	24d	1	1.48mi
4010 S Ocean Dr Unit R504 Hollywood, FL	3.0	2.0	1122	$10,000	$8.91	24d	1	1.48mi
4010 S Ocean Dr Unit T3609 Hollywood, FL	2.0	2.0	1060	$6,300	$5.94	3d	1	1.48mi
4010 S Ocean Dr Unit R504 Hollywood, FL	3.0	2.0	1122	$10,000	$8.91	7d	1	1.48mi
4010 S Ocean Dr Unit 1227485P Hollywood, FL	2.0–3.0	2.0	1118	$5,049	$4.51	15d	2	1.48mi
4010 S Ocean Dr Unit T3509 Hollywood, FL	2.0	2.0	1060	$6,000	$5.66	22d	1	1.48mi

HOA detail condo

• Monthly dues: $531 · $6,372/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $270,000 Active 6 DOM
2. 2026-06-17
   days on market $270,000 Active 5 DOM
3. 2026-06-16
   days on market $270,000 Active 4 DOM
4. 2026-06-15
   days on market $270,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $270,000 Active 1 DOM

ⓘ 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: $4,370 · $364/mo
• Projected year-2 tax: $4,370 · $364/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: $43,170
• − Mortgage interest: −$15,124
• − Property taxes: −$4,370
• − Insurance: −$1,350
• − Repairs & maintenance: −$3,454
• − Management: −$3,454
• − HOA: −$6,372
• − Depreciation: −$7,855
• Taxable income: $1,192
• Est. tax owed @ 24.0%: −$286
• After-tax cash flow: $4,735/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

+1284.6% since first listed

10 events — show timeline

• 2026-06-12 Listed $270,000 MARMLS
• 2025-09-04 Listing Removed — MARMLS
• 2025-07-14 Listed $270,000 MARMLS
• 2018-08-21 Sold (Public Records) $129,000 Public Records
• 2018-08-15 Sold (MLS) $129,000 MARMLS
• 2018-07-02 Pending — MARMLS
• 2018-06-28 Price Changed $129,000 MARMLS
• 2018-05-01 Listed $139,000 MARMLS
• 1976-11-01 Sold (Public Records) $26,000 Public Records
• 1970-04-01 Sold (Public Records) $19,500 Public Records

Property tax history

+11.3%/yr

Latest (2025): $4,370 · +8.0% YoY. Source: county tax records.