2635 NW 104th Ave #310 · Sunrise, FL 33322

$119,900

2 bd · 2.0 ba · 960 sqft · Condo public records · 105 Days on market

Built 1987 $646/mo HOA · 29% 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 +21.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 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

CHARMING 2 bed/ 2 bath, 3RD FLOOR LAKE FRONT CONDO located in the heart of Sunrise! Located in highly sought-after 55+ community; Sunrise Lakes Phase 4. Washer & Dryer located inside the unit! stainless steel appliances. Newer A/C Master bedroom has walk-in closet. Plenty of guest parking available for visitors. Home of the SUNRISE EPIC THEATER! Enjoy many amenities such GOLF, shows, parties, dances, movie theater, fitness room, exercise classes, zumba, heated pool, BBQ, tennis courts, pickle ball & more! No Leasing. No Pets unless approved by the Association. Only 5 Minutes To Sawgrass Mall & 20-25 Minutes To Fort Lauderdale Airport & Beaches.

Key facts

• Guest parking
• Lake front condo
• Washer and dryer

Tags

• LAKE FRONT CONDO
• WASHER AND DRYER
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• GUEST PARKING
• HEATED POOL

Property features AI

Finance

• Other: Part of a large community with approximately 2,600 units; Association amenities indicate a golf course community
• Financial info: Pets allowed conditionally; restrictions may apply
• HOA & community: Monthly association fee of $646; Association covers cable TV, insurance, internet, pest control, reserve fund, roof, sewer, trash, and water; Community amenities include clubhouse, fitness center, billiard room, golf course, barbecue/picnic areas, pickleball, pool, sauna, spa/hot tub, tennis courts, transportation service, and elevators

Exterior

• Parking: Assigned parking; Guest parking available; One assigned space
• Security: Closed-circuit cameras
• Utilities: Cable available
• Home design: Multi-story building with 4 total stories; Entry located on level 3; Attached property; Has a view; Senior community
• Construction: Block construction; Year built not specified
• Exterior features: No additional exterior features listed; Lakefront; Association pool

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: Bedroom located on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Entrance foyer; Living/dining room; Main living area on entry level; Pantry; Third floor entry; Bedroom on main level
• Laundry & utility: Storage room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 22d 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 37% 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 $829 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 105 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 29% of rent.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.87% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.12%
• DSCR: 1.27
• GRM: 4.5

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: -11.4%
• Equity multiple: 0.60×
• Total profit: $-13,293
• Equity at exit: $17,877

10-year hold

• IRR: -9.6%
• Equity multiple: 0.52×
• Total profit: $-16,125
• Equity at exit: $10,367

Cash invested: $33,572 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,240 high
• Mortgage (P&I): −$629
• Tax from tax record: −$273 /mo · $3,281/yr
• Insurance: −$50
• HOA: −$646
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $171

Break-even live

Break-even rent $2,023

Max offer price $119,900

Occupancy floor 87%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10758 NW 30th Pl Sunrise, FL	2.0	2.0	1074	$2,200	$2.05	17d	1	0.38mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	24d	1	0.41mi
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	24d	1	0.42mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	1d	8	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	5d	9	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	1d	9	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	18d	6	0.59mi
9720 NW 24th Pl Unit B Sunrise, FL	1.0	1.0	700	$1,750	$2.50	24d	1	0.69mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	24d	1	0.73mi
10115 W Sunrise Blvd #104 Plantation, FL	1.0	1.0	806	$1,800	$2.23	2d	1	0.80mi
10115 W Sunrise Blvd #104 Plantation, FL	1.0	1.0	806	$1,850	$2.30	13d	1	0.80mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	24d	1	0.83mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	24d	1	0.85mi
10053 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	7d	1	0.90mi
10050 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	760	$1,750	$2.30	24d	1	0.92mi
10046 Winding Lake Rd #204 Sunrise, FL	2.0	1.0	760	$1,800	$2.37	24d	1	0.93mi
10002 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$1,900	$2.50	24d	1	0.93mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	3d	1	0.93mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	20d	1	0.93mi
10039 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	22d	1	0.94mi
10039 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	24d	1	0.94mi
10005 Winding Lake Rd #204 Sunrise, FL	2.0	2.0	772	$1,800	$2.33	24d	1	0.95mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,850	$2.40	7d	1	0.95mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,900	$2.46	24d	1	0.95mi
10900 NW 17th St Plantation, FL	1.0–3.0	1.0–2.5	1270	$2,414	$1.90	2d	17	0.97mi
10016 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,100	$2.76	24d	1	0.99mi
10025 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$1,700	$2.24	24d	1	1.02mi
3548 NW 111th Ter Sunrise, FL	3.0	2.0	1024	$2,675	$2.61	20d	1	1.02mi
9994 Nob Hill Ct #9994 Sunrise, FL	2.0	2.0	840	$1,975	$2.35	24d	1	1.05mi
9982 Nob Hill Ct #9982 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	12d	1	1.05mi
9954 Nob Hill Ct #9954 Sunrise, FL	2.0	2.0	900	$1,900	$2.11	24d	1	1.07mi
9926 Nob Hill Ct #9926 Sunrise, FL	2.0	2.0	915	$2,400	$2.62	24d	1	1.07mi
3621 NW 95th Ter #523 Sunrise, FL	2.0	2.0	970	$2,150	$2.22	24d	1	1.08mi
3531 NW 94th Ave Unit 6B Sunrise, FL	2.0	2.0	925	$1,925	$2.08	15d	1	1.08mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,054	$2.28	3d	1	1.09mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,001	$2.22	16d	1	1.09mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,099	$2.33	20d	1	1.09mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	24d	1	1.09mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,100	$2.33	12d	1	1.09mi
9838 Nob Hill Ct #9838 Sunrise, FL	2.0	2.0	840	$1,950	$2.32	15d	1	1.11mi

HOA detail condo

• Monthly dues: $646 · $7,752/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $119,900 Active 105 DOM
2. 2026-06-17
   days on market $119,900 Active 104 DOM
3. 2026-06-16
   days on market $119,900 Active 103 DOM
4. 2026-06-15
   days on market $119,900 Active 102 DOM
5. 2026-06-13
   days on market $119,900 Active 100 DOM
6. 2026-06-09
   days on market $119,900 Active 96 DOM
7. 2026-06-07
   days on market $119,900 Active 94 DOM
8. 2026-06-04
   days on market $119,900 Active 91 DOM
9. 2026-06-03
   days on market $119,900 Active 90 DOM
10. 2026-06-02
    days on market $119,900 Active 89 DOM
11. 2026-06-01
    days on market $119,900 Active 88 DOM
12. 2026-05-31
    days on market $119,900 Active 87 DOM
13. 2026-03-05
    listed $119,900 Active
14. 2022-09-08
    soldstatus $160,500
15. 1989-11-15
    soldstatus $50,000

ⓘ 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: $3,281 · $273/mo
• Projected year-2 tax: $3,281 · $273/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: $26,878
• − Mortgage interest: −$6,716
• − Property taxes: −$3,281
• − Insurance: −$600
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − HOA: −$7,752
• − Depreciation: −$3,488
• Taxable income: $741
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $1,878/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

+139.8% since first listed

3 events — show timeline

• 2026-03-05 Listed $119,900 MARMLS
• 2022-09-08 Sold (Public Records) $160,500 Public Records
• 1989-11-15 Sold (Public Records) $50,000 Public Records

Property tax history

+25.3%/yr

Latest (2025): $3,281 · -7.6% YoY. Source: county tax records.