2521 NW 104th Ave #203 · Sunrise, FL 33322

$289,900

2 bd · 2.0 ba · 1,470 sqft · Condo public records · 216 Days on market

Built 1988 $424/mo HOA · 14% of rent

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Why this score? — see what drove the D 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 +11.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

REMARKABLE UNIT AVAILABLE IN SUNRISE LAKES! TOO MANY UPGRADES TO EVEN LIST THEM ALL! THIS UNIT HAS BEEN COMPLETELY REDONE FROM TOP TO BOTTOM WITH NO EXPENSE SPARED ONCE SO EVER! IF YOU ARE LOOKING FOR A MOVE IN READY PROPERTY, THAT WAS BUILT RIGHT AND NOT HAVE TO WORRY ABOUT UPGRADING DOWN THE ROAD - YOU FOUND IT. THE UNIT HAS BEEN TRANSFORMED INTO 2025 STANDARDS! NEW A/C, NEW APPLIANCES, NEW KITCHEN AND BATHS, NEW FLOORING, FULL SIZE WASHER AND DRYER, ALL IMPACT WINDOWS AND DOORS! THE UNIT HAS ONE OF THE BEST LOCATIONS IN ALL OF SUNRISE LAKES WITH BEAUTIFUL WATER VIEWS! THIS IS ALSO ONE OF THE OWNER OCCUPANT BUILDINGS AS WELL! NO RENTING FOR OWNERS THAT ARE LOOKING TO RESIDE IN THE PROPERT

Key facts

• New kitchen
• New baths
• Completely redone

Tags

• COMPLETELY REDONE
• NEW APPLIANCES
• NEW KITCHEN
• NEW BATHS
• NEW FLOORING
• FULL SIZE WASHER AND DRYER

Property features AI

Finance

• Other: Association pool (heated)
• Financial info: Pets not allowed
• HOA & community: Monthly association fees; Association amenities: clubhouse, fitness center, library, pool, shuffleboard court, sauna, tennis courts, transportation service, elevators; Association fee includes: common areas, cable TV, internet, grounds maintenance, parking, reserve fund, roof, security, trash, water

Exterior

• Parking: Guest parking; One assigned space
• Security: Association security
• Utilities: Association water; Association trash; Cable and internet included in association
• Home design: 2 stories; Updated/remodeled; Attached property; Entry level: 4
• Construction: Block construction
• Exterior features: Lakefront; Has a view; Association-maintained grounds

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-80 ($-955/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (4.8% below list).
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 4.9% in Sunrise — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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); Piper High School (math 12% / reading 35%, grade F, #533 of 667 statewide, top 80%, 2,310 students, 65% FRL) — zoned schools average 68% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 560 active listings in the ZIP; 40 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 $2,955/mo this rent would consume 49% of the median local household income ($72k/yr) (locally 931% 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 $9k 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 216 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $235k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $255,112 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 216 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.02% ✓
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 8.2

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: -21.4%
• Equity multiple: 0.28×
• Total profit: $-58,715
• Equity at exit: $43,225

10-year hold

• IRR: -23.7%
• Equity multiple: -0.03×
• Total profit: $-83,700
• Equity at exit: $25,065

Cash invested: $81,172 (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: 560
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,955 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$349 /mo · $4,185/yr
• Insurance: −$121
• HOA: −$424
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $-80

Break-even live

Break-even rent $3,055

Max offer price $275,845

Occupancy floor 98%

Sensitivity live

Price	-10% $85	-5% $2	+0% $-80	+5% $-162	+10% $-244
Rent	-10% $-313	-5% $-196	+0% $-80	+5% $37	+10% $154
Rate	-1.0pp $66	-0.5pp $-6	base $-80	+0.5pp $-155	+1.0pp $-231

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10784 NW 23rd Ct Sunrise, FL	3.0	2.0	1430	$3,150	$2.20	14d	1	0.36mi
2566 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,600	$2.73	0d	1	0.41mi
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	26d	1	0.45mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	26d	1	0.46mi
10758 NW 30th Pl Sunrise, FL	2.0	2.0	1074	$2,200	$2.05	19d	1	0.50mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	3d	1	0.55mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	26d	1	0.55mi
2920 NW 99th Ter Sunrise, FL	3.0	2.5	1680	$4,800	$2.86	26d	1	0.56mi
9970 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,199	$1.85	26d	1	0.60mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	26d	1	0.61mi
9840 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,395	$1.97	26d	1	0.65mi
3160 NW 101st Ave Sunrise, FL	3.0	2.0	1780	$4,000	$2.25	26d	1	0.66mi
10991 NW 30th Pl #10991 Sunrise, FL	3.0	2.0	1144	$2,950	$2.58	26d	1	0.67mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	6d	9	0.67mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	20d	6	0.67mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	9	0.67mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	8	0.67mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	26d	1	0.70mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	9d	1	0.70mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	26d	1	0.70mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	26d	1	0.72mi
3344 NW 103rd Ave Sunrise, FL	3.0	2.0	1512	$3,100	$2.05	9d	1	0.75mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	24d	1	0.75mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	26d	1	0.75mi
10240 NW 33rd Pl Sunrise, FL	3.0	2.0	1512	$2,950	$1.95	26d	1	0.76mi
9521 NW 25th St Sunrise, FL	3.0	2.0	1616	$2,935	$1.82	0d	1	0.77mi
2650 NW 94th Way Sunrise, FL	2.0	2.0	1200	$2,900	$2.42	3d	1	0.82mi
10900 NW 17th St Plantation, FL	1.0–3.0	1.0–2.5	1270	$2,344	$1.85	0d	19	0.84mi
2631 NW 94th Ave Sunrise, FL	2.0	2.0	1350	$3,456	$2.56	6d	1	0.84mi
9551 NW 19th Pl Fort Lauderdale, FL	3.0	2.0	1577	$3,700	$2.35	24d	1	0.85mi
11338 NW 33rd St Sunrise, FL	3.0	2.5	1801	$5,000	$2.78	26d	1	0.98mi
11386 NW 33rd St Unit 11386 Sunrise, FL	2.0	2.5	1498	$2,900	$1.94	19d	1	1.00mi
11461 NW 32nd Pl Sunrise, FL	3.0	2.0	1572	$3,500	$2.23	26d	1	1.02mi
10700 NW 14th St #146 Plantation, FL	2.0	2.0	985	$2,200	$2.23	26d	1	1.03mi
10790 NW 14th St #187 Plantation, FL	3.0	2.0	1120	$2,550	$2.28	26d	1	1.05mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	24d	1	1.07mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	9d	1	1.07mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,200	$1.91	15d	1	1.07mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,100	$1.85	5d	1	1.07mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,200	$1.91	18d	1	1.07mi

HOA detail condo

• Monthly dues: $424 · $5,088/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $289,900 Active 216 DOM
2. 2026-06-18
   days on market $289,900 Active 213 DOM
3. 2026-06-17
   days on market $289,900 Active 212 DOM
4. 2026-06-16
   days on market $289,900 Active 211 DOM
5. 2026-06-15
   days on market $289,900 Active 210 DOM
6. 2026-06-13
   days on market $289,900 Active 208 DOM
7. 2026-06-09
   days on market $289,900 Active 204 DOM
8. 2026-06-07
   days on market $289,900 Active 202 DOM
9. 2026-06-04
   days on market $289,900 Active 199 DOM
10. 2026-06-03
    days on market $289,900 Active 198 DOM
11. 2026-06-02
    days on market $289,900 Active 197 DOM
12. 2026-06-01
    days on market $289,900 Active 196 DOM
13. 2026-05-31
    days on market $289,900 Active 195 DOM
14. 2025-11-17
    listed $289,900 Active
15. 2022-08-22
    soldstatus $235,000
16. 2017-08-02
    soldstatus $30,000
17. 2005-06-06
    soldstatus $145,714
18. 1988-04-01
    soldstatus $70,000

ⓘ 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: $4,185 · $349/mo
• Projected year-2 tax: $4,185 · $349/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: $35,457
• − Mortgage interest: −$16,239
• − Property taxes: −$4,185
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,837
• − Management: −$2,837
• − HOA: −$5,088
• − Depreciation: −$8,433
• Taxable loss: −$5,611
• Est. tax savings @ 24.0%: +$1,347
• After-tax cash flow: $392/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

+314.1% since first listed

5 events — show timeline

• 2025-11-17 Listed $289,900 MARMLS
• 2022-08-22 Sold (Public Records) $235,000 Public Records
• 2017-08-02 Sold (Public Records) $30,000 Public Records
• 2005-06-06 Sold (Public Records) $145,714 Public Records
• 1988-04-01 Sold (Public Records) $70,000 Public Records

Property tax history

+13.7%/yr

Latest (2025): $4,185 · -4.5% YoY. Source: county tax records.