1013 NW 1st Ave · Hallandale Beach, FL 33009

$1,150,000

20 bd · 10.0 ba · 4,797 sqft · MultiFamily · 140 Days on market

Built 1965 ↓ 4% since listing

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Legal Fourplex!! All units are completely remodeled, the front is 3 beds/1 bath, the Cottage is 2 beds/1 bath, and 2 units of 2 beds/1 bath in the back. parking spaces are available; all new ceramic tile flooring, new kitchen, new AC, new lighting, common yard area, security cameras, nest thermostat, and all freshly painted; washer and dryer on-site a. Great location, close to Hallandale Beach, shops, and restaurants. The tenant is responsible for all utilities, electricity, and water, all separate meters. All tenants are under a lease. Tenant occupied! Do not disturb!! ANNUAL NET GROSS INCOME $103K. ANNUAL NET INCOME 83K

Key facts

• New lighting
• New kitchen
• Completely remodeled

Tags

• COMPLETELY REMODELED
• NEW CERAMIC TILE FLOORING
• NEW KITCHEN
• NEW AC
• NEW LIGHTING
• COMMON YARD AREA

Property features AI

Finance

• Financial info: Multifamily income details: units rented at approximately $1,950 to $2,650 monthly (unit breakdown provided)

Exterior

• Parking: Total of 6 parking spaces (open parking)
• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story building; Resale property; Shingle roof; Block construction; Zoned WEST RAC
• Construction: Block construction; Shingle roof; Built as resale (year built details listed as resale)
• Exterior features: Open parking available; Lot less than a quarter acre

Interior

• Kitchen: All units include a kitchen
• Bedrooms: Multiple 2-bedroom units and one 3-bedroom unit (see unit breakdown)
• Flooring: Ceramic tile
• Bathrooms: One full bathroom per unit
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Blinds on windows; Ceramic tile flooring
• Laundry & utility: Air conditioning units in each unit

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 3×2bd/1.0ba units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $633/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.15M).
• Recommended offer: $1.01M (12.0% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% 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 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 1384 active listings in the ZIP; 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• At $13,265/mo this rent would consume 306% 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 $8k of loan paydown is wiped out by about $34k 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 140 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,012,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• GRM: 7.2

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: -5.0%
• Equity multiple: 0.82×
• Total profit: $-58,331
• Equity at exit: $171,469

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $27,320
• Equity at exit: $99,431

Cash invested: $322,000 (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: 1384
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $13,265 high
• Mortgage (P&I): −$6,031
• Tax est. 1.5%: −$1,438 /mo · $17,250/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,786
• Net cashflow: $2,532

Break-even live

Break-even rent $10,060

Max offer price $1,150,000

Occupancy floor 76%

Sensitivity live

Price	-10% $3,327	-5% $2,929	+0% $2,532	+5% $2,135	+10% $1,737
Rent	-10% $1,484	-5% $2,008	+0% $2,532	+5% $3,056	+10% $3,580
Rate	-1.0pp $3,111	-0.5pp $2,824	base $2,532	+0.5pp $2,234	+1.0pp $1,931

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,583
▸ 3× units	2	1	$9,681
Total (4 units)			$13,265

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $1,150,000 Active 140 DOM
2. 2026-06-18
   days on market $1,150,000 Active 137 DOM
3. 2026-06-17
   days on market $1,150,000 Active 136 DOM
4. 2026-06-16
   days on market $1,150,000 Active 135 DOM
5. 2026-06-15
   days on market $1,150,000 Active 134 DOM
6. 2026-06-13
   days on market $1,150,000 Active 132 DOM
7. 2026-06-09
   days on market $1,150,000 Active 128 DOM
8. 2026-06-07
   days on market $1,150,000 Active 126 DOM
9. 2026-06-04
   days on market $1,150,000 Active 123 DOM
10. 2026-06-03
    days on market $1,150,000 Active 122 DOM
11. 2026-06-02
    days on market $1,150,000 Active 121 DOM
12. 2026-06-01
    days on market $1,150,000 Active 120 DOM
13. 2026-05-31
    days on market $1,150,000 Active 119 DOM
14. 2026-02-01
    listed $1,150,000 Active
15. 2026-01-31
    historical
16. 2025-09-08
    listed $1,150,000 Active
17. 2025-09-05
    historical
18. 2025-08-28
    price $1,190,000
19. 2025-02-27
    listed $1,249,000 Active
20. 2024-09-18
    historical
21. 2024-09-04
    listed $1,390,000 Active
22. 2024-09-03
    historical
23. 2024-05-23
    listed $1,200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $159,180
• − Mortgage interest: −$64,418
• − Property taxes: −$17,250
• − Insurance: −$5,750
• − Repairs & maintenance: −$12,734
• − Management: −$12,734
• − Depreciation: −$33,455
• Taxable income: $12,839
• Est. tax owed @ 24.0%: −$3,081
• After-tax cash flow: $27,302/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

-4.2% since first listed

10 events — show timeline

• 2026-02-01 Listed $1,150,000 MARMLS
• 2026-01-31 Listing Removed — MARMLS
• 2025-09-08 Listed $1,150,000 MARMLS
• 2025-09-05 Listing Removed — MARMLS
• 2025-08-28 Price Changed $1,190,000 MARMLS
• 2025-02-27 Listed $1,249,000 MARMLS
• 2024-09-18 Listing Removed — MARMLS
• 2024-09-04 Listed $1,390,000 MARMLS
• 2024-09-03 Listing Removed — MARMLS
• 2024-05-23 Listed $1,200,000 MARMLS