2831 Sunrise Lakes Dr E #204 · Sunrise, FL 33322

$125,000

2 bd · 2.0 ba · 850 sqft · Condo public records · 96 Days on market

Built 1975 $644/mo HOA · 30% 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 +18.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated waterfront 2/2 on the 2nd floor of Building 12, just steps from the Satellite 15 pool. Impact windows throughout, including the enclosed balcony as well as the sliding glass doors to the balcony. New stainless steel appliances in the kitchen, updated bathrooms and walk-in closets. Gorgeous lake views from the balcony as well as the primary bedroom. Unit has just been professionally painted. Extra storage and laundry area located on the same floor. Home is ready for your personal touches. Amenities include pool, fitness center, clubhouse, theater, transportation, cable. COA says 55+, no leasing and no pets. 50 year re-certifications have been completed. Some trucks are OK, contact ag

Key facts

• Enclosed balcony
• Walk-in closets
• Updated bathrooms

Tags

• WATERFRONT
• IMPACT WINDOWS
• ENCLOSED BALCONY
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOMS
• WALK-IN CLOSETS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers amenities, cable TV, grounds maintenance, pools, recreation facilities, sewer, trash, and water; Community amenities include clubhouse, elevators, fitness center, laundry, pickleball, pool, and tennis courts; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Utilities: Cable available
• Home design: Attached property; 3 stories; Entry on 2nd level; Effective year built
• Construction: Block construction
• Exterior features: Balcony; Glass-enclosed balcony/porch; Screened porch; Association pool; Lakefront waterfront; Has view

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom on main level; Porch (room type listed)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Impact glass windows; Built-in features; Main living area on entry level; Stacked bedrooms
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.9% in Sunrise — 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 83/100 on livability (#56 in FL, #986 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities F.
• 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; 559 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).
• This rent runs 36% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $125k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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 1975 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.72% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.52×
• Total profit: $-16,652
• Equity at exit: $18,638

10-year hold

• IRR: -13.0%
• Equity multiple: 0.38×
• Total profit: $-21,855
• Equity at exit: $10,808

Cash invested: $35,000 (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 33322

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 559
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,148 high
• Mortgage (P&I): −$656
• Tax from tax record: −$216 /mo · $2,594/yr
• Insurance: −$52
• HOA: −$644
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $129

Break-even live

Break-even rent $1,984

Max offer price $125,000

Occupancy floor 89%

Sensitivity live

Price	-10% $200	-5% $164	+0% $129	+5% $93	+10% $58
Rent	-10% $-41	-5% $44	+0% $129	+5% $214	+10% $298
Rate	-1.0pp $192	-0.5pp $161	base $129	+0.5pp $96	+1.0pp $63

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,650	$2.28	21d	1	0.33mi
3048 E Sunrise Lakes Dr #412 Sunrise, FL	1.0	1.0	725	$1,400	$1.93	22d	1	0.33mi
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,600	$2.21	4d	1	0.33mi
8100 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$2,200	$2.95	11d	2	0.36mi
8135 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$1,550	$2.08	25d	2	0.38mi
7891 Sunrise Lakes Dr N Sunrise, FL	2.0	2.0	850	$2,500	$2.94	25d	1	0.39mi
8135 Sunrise Lakes Blvd #302 Sunrise, FL	2.0	2.0	850	$1,550	$1.82	12d	1	0.39mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	3d	1	0.40mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	18d	1	0.40mi
8310 NW 24th Pl Sunrise, FL	2.0	1.0	900	$2,400	$2.67	19d	1	0.42mi
8225 Sunrise Lakes Blvd #303 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	3d	1	0.45mi
8220 Sunrise Lakes Blvd #309 Sunrise, FL	2.0	2.0	850	$1,650	$1.94	25d	1	0.50mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	8d	1	0.51mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	25d	1	0.51mi
3220 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,150	$1.93	25d	1	0.55mi
8300 Sunrise Lakes Blvd #212 Sunrise, FL	2.0	2.0	850	$1,900	$2.24	3d	1	0.55mi
8053 W Oakland Park Blvd Unit 6-307 Sunrise, FL	1.0	1.0	727	$2,618	$3.60	25d	1	0.56mi
8053 W Oakland Park Blvd Unit 5-101 Sunrise, FL	1.0	1.0	986	$3,354	$3.40	25d	1	0.56mi
8053 W Oakland Park Blvd Unit 1-204 Sunrise, FL	1.0	1.0	735	$2,450	$3.33	25d	1	0.56mi
8053 W Oakland Park Blvd Unit 6-301 Sunrise, FL	2.0	2.0	1124	$3,411	$3.03	25d	1	0.56mi
8053 W Oakland Park Blvd Sunrise, FL	1.0	1.0	846	$2,779	$3.28	25d	1	0.56mi
8053 W Oakland Park Blvd Unit 1-201 Sunrise, FL	2.0	2.0	1107	$3,223	$2.91	25d	1	0.56mi
8053 W Oakland Park Blvd Unit 5-305 Sunrise, FL	1.0	1.0	846	$2,702	$3.19	25d	1	0.56mi
8350 Sunrise Lakes Blvd #204 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	25d	1	0.60mi
3232 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,000	$1.79	25d	1	0.62mi
3244 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,300	$2.06	25d	1	0.62mi
3200 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,100	$1.88	25d	1	0.62mi
7461 NW 23rd St Sunrise, FL	2.0	1.0	896	$2,550	$2.85	14d	1	0.63mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	8d	1	0.64mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	25d	1	0.64mi
8083-8093 W Oakland Park Blvd Sunrise, FL	1.0–3.0	1.0–2.0	1054	$3,226	$3.06	25d	37	0.64mi
8465 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,450	$2.27	25d	1	0.66mi
8500 Sunrise Lakes Blvd #111 Sunrise, FL	2.0	2.0	850	$1,850	$2.18	15d	1	0.71mi
8500 Sunrise Lakes Blvd #111 Sunrise, FL	2.0	2.0	850	$1,850	$2.18	11d	1	0.71mi
7620 NW 21st St Sunrise, FL	3.0	2.0	1082	$2,750	$2.54	15d	1	0.74mi
8595 Sunrise Lakes Blvd Sunrise, FL	1.0	1.0	640	$1,550	$2.42	21d	2	0.75mi
2534 NW 73rd Ave Sunrise, FL	1.0	1.0	950	$1,750	$1.84	25d	1	0.75mi
8595 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	2d	1	0.75mi
8595 Sunrise Lakes Blvd #207 Sunrise, FL	1.0	1.0	640	$1,700	$2.66	25d	1	0.75mi
8590 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,475	$2.30	25d	1	0.78mi

HOA detail condo

• Monthly dues: $644 · $7,728/yr
• Likely covers: watercablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $125,000 Active 96 DOM
2. 2026-06-17
   days on market $125,000 Active 95 DOM
3. 2026-06-16
   days on market $125,000 Active 94 DOM
4. 2026-06-15
   pricedays on market $125,000 Active 93 DOM
5. 2026-06-01
   remarks 699-char remark
6. 2026-06-01
   listed $140,000 Active 92 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: $2,594 · $216/mo
• Projected year-2 tax: $2,594 · $216/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: $25,770
• − Mortgage interest: −$7,002
• − Property taxes: −$2,594
• − Insurance: −$625
• − Repairs & maintenance: −$2,062
• − Management: −$2,062
• − HOA: −$7,728
• − Depreciation: −$3,636
• Taxable income: $62
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $1,531/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 — Sunrise

• Score: 83/100
• State rank: #56
• US rank: #986

Category grades

Amenities F Commute A+ Cost of living B+ Crime B Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunrise, FL
• County: Broward County · 1,963,430 people
• City population: 77,492
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 41,128
• Household income: $71,755
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 931.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 35% White 32% Black 24% Two or more races 22% Asian 4%
• Hispanic origin (detail): Puerto Rican 5% Cuban 6% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 5% Romanian 2% Scotch-Irish 2%
• Foreign-born: 41% · Canada, Jamaica, South Korea
• Languages at home: 58% English-only · Spanish 30% French/Haitian/Cajun 6% Other Indo-European 1%

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: ▼ -203.34%
• Current HPI: 407.5452
• Rent YoY: ▲ 0.60%
• 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

+536.4% since first listed

9 events — show timeline

• 2026-06-01 Relisted — MARMLS
• 2026-02-10 Listed $140,000 MARMLS
• 2025-09-29 Listing Removed — MARMLS
• 2025-03-10 Price Changed $150,000 MARMLS
• 2024-11-07 Price Changed $160,000 MARMLS
• 2024-10-14 Listed $169,000 MARMLS
• 2002-07-09 Sold (Public Records) $36,500 Public Records
• 1998-11-16 Sold (Public Records) $22,500 Public Records
• 1976-02-01 Sold (Public Records) $22,000 Public Records

Property tax history

+23.2%/yr

Latest (2025): $2,594 · +828.0% YoY. Source: county tax records.