2602 NW 103rd Ave #401 · Sunrise, FL 33322

$199,900

3 bd · 2.0 ba · 1,470 sqft · Condo public records · 84 Days on market

Built 1991 $816/mo HOA · 25% of rent

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Why this score? — see what drove the B- 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 +26.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 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 MLS

BEAUTIFUL 3/2 UNIT ON "THE ISLAND" NICE VIEW, PLENTY OF AMENITIES. POPULAR PORTOFINO MODEL. NEW A/C, MICROWAVE, FILM FOR HURRICAN ON WINDOS AND NEW FANS. MUST MEET CONDO ASSOC. FINANCIAL REQUIREMENTS-55+PER CONDO ASSOC. PROPERTY SOLD "AS-IS" WITH RIG HT TO INSPECT. CHANDELIER DOES NOT CONVEY.

Key facts

• Community pool
• Utility laundry room
• Eat-in kitchen

Tags

• SPACIOUS ENCLOSED BALCONY
• POSTCARD LAKE VIEW
• UTILITY LAUNDRY ROOM
• EAT-IN KITCHEN
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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).
• At $3,208/mo this rent would consume 54% 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 $1k of loan paydown is wiped out by about $6k 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 84 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $82k; list at $200k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.66%
• DSCR: 1.47
• GRM: 5.2

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: -3.9%
• Equity multiple: 0.86×
• Total profit: $-7,827
• Equity at exit: $29,806

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $6,226
• Equity at exit: $17,284

Cash invested: $55,972 (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: 5.2×

Monthly cashflow live

• Estimated rent: $3,208 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$83
• HOA: −$816
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $497

Break-even live

Break-even rent $2,578

Max offer price $199,900

Occupancy floor 79%

Sensitivity live

Price	-10% $611	-5% $554	+0% $497	+5% $441	+10% $384
Rent	-10% $244	-5% $371	+0% $497	+5% $624	+10% $751
Rate	-1.0pp $598	-0.5pp $548	base $497	+0.5pp $446	+1.0pp $393

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	25d	1	0.19mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	25d	1	0.21mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	2d	1	0.31mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	25d	1	0.31mi
2920 NW 99th Ter Sunrise, FL	3.0	2.5	1680	$4,800	$2.86	25d	1	0.34mi
10691 NW 28th St Sunrise, FL	4.0	2.0	1603	$4,500	$2.81	25d	1	0.42mi
10691 NW 28th St Sunrise, FL	4.0	2.0	1438	$4,500	$3.13	18d	1	0.42mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	5d	9	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	2d	8	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	2d	9	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	19d	6	0.46mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	8d	1	0.51mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	25d	1	0.51mi
3160 NW 101st Ave Sunrise, FL	3.0	2.0	1780	$4,000	$2.25	25d	1	0.52mi
9521 NW 25th St Sunrise, FL	3.0	2.0	1616	$2,965	$1.83	8d	1	0.54mi
9970 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,199	$1.85	25d	1	0.55mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	22d	1	0.56mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	25d	1	0.56mi
2650 NW 94th Way Sunrise, FL	2.0	2.0	1200	$2,900	$2.42	2d	1	0.57mi
9840 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,395	$1.97	25d	1	0.58mi
2631 NW 94th Ave Sunrise, FL	2.0	2.0	1350	$3,456	$2.56	5d	1	0.59mi
10784 NW 23rd Ct Sunrise, FL	3.0	2.0	1430	$3,150	$2.20	12d	1	0.60mi
10900 NW 28th St Sunrise, FL	4.0	2.0	1459	$4,250	$2.91	25d	1	0.60mi
10758 NW 30th Pl Sunrise, FL	2.0	2.0	1074	$2,200	$2.05	18d	1	0.60mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	25d	1	0.60mi
3344 NW 103rd Ave Sunrise, FL	3.0	2.0	1512	$3,100	$2.05	8d	1	0.69mi
10240 NW 33rd Pl Sunrise, FL	3.0	2.0	1512	$2,950	$1.95	25d	1	0.69mi
9551 NW 19th Pl Fort Lauderdale, FL	3.0	2.0	1577	$3,700	$2.35	22d	1	0.70mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	25d	1	0.71mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	25d	1	0.74mi
10991 NW 30th Pl #10991 Sunrise, FL	3.0	2.0	1144	$2,950	$2.58	25d	1	0.83mi
9100 NW 26th Pl Sunrise, FL	3.0	2.0	1047	$2,995	$2.86	22d	1	0.88mi
9100 NW 26th Pl Sunrise, FL	2.0	2.0	1047	$2,995	$2.86	25d	1	0.88mi
11100 NW 21st St Sunrise, FL	4.0	3.0	1529	$4,000	$2.62	25d	1	0.89mi
9151 W Sunrise Blvd #9151 Plantation, FL	3.0	2.0	1482	$2,750	$1.86	25d	1	0.94mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	8d	1	0.94mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	22d	1	0.94mi
3531 NW 94th Ave Unit 6B Sunrise, FL	2.0	2.0	925	$1,925	$2.08	15d	1	0.97mi
3571 NW 95th Ter #707 Sunrise, FL	3.0	2.0	1241	$3,100	$2.50	25d	1	0.98mi
9827 NW 37th St Unit 4F Sunrise, FL	2.0	2.0	1190	$2,400	$2.02	25d	1	0.99mi

HOA detail condo

• Monthly dues: $816 · $9,792/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-04-04
   status Pending
2. 2026-03-17
   price $199,900
3. 2026-03-10
   price $209,900
4. 2026-03-10
   price $208,900
5. 2026-03-09
   price $199,900
6. 2026-01-06
   listed $209,900 Active
7. 2011-12-20
   soldstatus $82,000
8. 2011-12-12
   soldstatus $82,000 318-char remark

   Show marketing remark (318 chars)

   BEAUTIFUL 3/2 UNIT ON "THE ISLAND" NICE VIEW, PLENTY OF AMENITIES. POPULAR PORTOFINO MODEL. NEW A/C, MICROWAVE, FILM FOR HURRICAN ON WINDOS AND NEW FANS. MUST MEET CONDO ASSOC. FINANCIAL REQUIREMENTS-55+PER CONDO ASSOC. PROPERTY SOLD "AS-IS" WITH RIG HT TO INSPECT. CHANDELIER DOES NOT CONVEY.

9. 2011-05-05
   listed $85,000 318-char remark

   Show marketing remark (318 chars)

   BEAUTIFUL 3/2 UNIT ON "THE ISLAND" NICE VIEW, PLENTY OF AMENITIES. POPULAR PORTOFINO MODEL. NEW A/C, MICROWAVE, FILM FOR HURRICAN ON WINDOS AND NEW FANS. MUST MEET CONDO ASSOC. FINANCIAL REQUIREMENTS-55+PER CONDO ASSOC. PROPERTY SOLD "AS-IS" WITH RIG HT TO INSPECT. CHANDELIER DOES NOT CONVEY.

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$592/yr (+$49/mo · 55.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $38,490
• − Mortgage interest: −$11,198
• − Property taxes: −$1,068
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,079
• − Management: −$3,079
• − HOA: −$9,792
• − Depreciation: −$5,815
• Taxable income: $3,460
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $5,138/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

+135.2% since first listed

9 events — show timeline

• 2026-04-04 Pending — MARMLS
• 2026-03-17 Price Changed $199,900 MARMLS
• 2026-03-10 Price Changed $209,900 MARMLS
• 2026-03-10 Price Changed $208,900 MARMLS
• 2026-03-09 Price Changed $199,900 MARMLS
• 2026-01-06 Listed $209,900 MARMLS
• 2011-12-20 Sold (Public Records) $82,000 Public Records
• 2011-12-12 Sold (MLS) $82,000 Beaches MLS
• 2011-05-05 Listed $85,000 Beaches MLS

Property tax history

-1.9%/yr

Latest (2025): $1,068 · +6.4% YoY. Source: county tax records.