2651 E Sunrise Lakes Dr #104 · Sunrise, FL 33322

$140,000

2 bd · 2.0 ba · 850 sqft · Condo public records · 82 Days on market

Built 1974 $625/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 +20.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 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 MLS

Are you ready to enjoy life in Florida? This 55+ 2/2 condo is just what you’ve been looking for. Close to everything you need, a backyard facing the community pool. Enjoy the kitchen with upgraded appliances, ample cabinet space, & easy-to-clean tile floors. The open floor plan lets you enjoy all the natural light while the hurricane impact windows help to keep things safe. Unwind in the spacious Master bedroom & have an extra room for guests or a home office. Watch the sunsets from the enclosed lanai, and walk to the clubhouse fitness center, & other amenities including 2 large swimming pools in the complex. The community has a laundry facility that is accessible with a key card. You’ll love being close to major highways, stores, & restaurants while enjoying a retreat when you are home.

Key facts

• Community pool
• Ground-floor access
• First-floor

Tags

• FIRST-FLOOR
• GROUND-FLOOR ACCESS
• COMMUNITY POOL
• WELL-ESTABLISHED COMMUNITY

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes common areas, cable TV, insurance, laundry, grounds maintenance, structure maintenance, recreation facilities, reserve fund, and trash; Community amenities: clubhouse, elevator(s), fitness center, laundry, pool, tennis courts; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One space assigned
• Utilities: Has cooling; Has heating
• Home design: Attached property; 3-story building; Ground-level (entry level 1)
• Construction: Block construction; Resale unit
• Exterior features: No notable exterior features listed; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• 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; 560 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $968 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 82 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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

• Watch-outs: HOA is 29% of rent.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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: 1.54% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.76%
• DSCR: 1.26
• GRM: 5.4

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: -11.2%
• Equity multiple: 0.61×
• Total profit: $-15,402
• Equity at exit: $20,874

10-year hold

• IRR: -7.8%
• Equity multiple: 0.58×
• Total profit: $-16,322
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$734
• Tax from tax record: −$93 /mo · $1,122/yr
• Insurance: −$58
• HOA: −$625
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $188

Break-even live

Break-even rent $1,913

Max offer price $140,000

Occupancy floor 86%

Sensitivity live

Price	-10% $268	-5% $228	+0% $188	+5% $149	+10% $109
Rent	-10% $18	-5% $103	+0% $188	+5% $273	+10% $358
Rate	-1.0pp $259	-0.5pp $224	base $188	+0.5pp $152	+1.0pp $115

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8310 NW 24th Pl Sunrise, FL	2.0	1.0	900	$2,400	$2.67	20d	1	0.32mi
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,600	$2.21	5d	1	0.41mi
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,650	$2.28	22d	1	0.41mi
3048 E Sunrise Lakes Dr #412 Sunrise, FL	1.0	1.0	725	$1,400	$1.93	23d	1	0.41mi
3048 Sunrise Lakes Dr E Unit 217 Sunrise, FL	2.0	2.0	924	$1,800	$1.95	0d	1	0.42mi
8135 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$1,550	$2.08	26d	2	0.45mi
8100 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$2,200	$2.95	12d	2	0.45mi
8135 Sunrise Lakes Blvd #302 Sunrise, FL	2.0	2.0	850	$1,550	$1.82	13d	1	0.46mi
7891 Sunrise Lakes Dr N Sunrise, FL	2.0	2.0	850	$2,500	$2.94	26d	1	0.50mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	4d	1	0.50mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	19d	1	0.50mi
8225 Sunrise Lakes Blvd #303 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	4d	1	0.51mi
7461 NW 23rd St Sunrise, FL	2.0	1.0	896	$2,550	$2.85	15d	1	0.56mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	26d	1	0.57mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	9d	1	0.57mi
8220 Sunrise Lakes Blvd #309 Sunrise, FL	2.0	2.0	850	$1,650	$1.94	26d	1	0.59mi
8300 Sunrise Lakes Blvd #212 Sunrise, FL	2.0	2.0	850	$1,900	$2.24	4d	1	0.62mi
7620 NW 21st St Sunrise, FL	3.0	2.0	1082	$2,750	$2.54	16d	1	0.64mi
3220 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,150	$1.93	26d	1	0.65mi
8350 Sunrise Lakes Blvd #204 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	26d	1	0.66mi
8053 W Oakland Park Blvd Unit 6-301 Sunrise, FL	2.0	2.0	1124	$3,411	$3.03	26d	1	0.70mi
8053 W Oakland Park Blvd Sunrise, FL	1.0	1.0	846	$2,779	$3.28	26d	1	0.70mi
8053 W Oakland Park Blvd Unit 1-201 Sunrise, FL	2.0	2.0	1107	$3,223	$2.91	26d	1	0.70mi
8053 W Oakland Park Blvd Unit 1-204 Sunrise, FL	1.0	1.0	735	$2,450	$3.33	26d	1	0.70mi
8053 W Oakland Park Blvd Unit 6-307 Sunrise, FL	1.0	1.0	727	$2,618	$3.60	26d	1	0.70mi
8053 W Oakland Park Blvd Unit 5-101 Sunrise, FL	1.0	1.0	986	$3,354	$3.40	26d	1	0.70mi
8053 W Oakland Park Blvd Unit 5-305 Sunrise, FL	1.0	1.0	846	$2,702	$3.19	26d	1	0.70mi
8465 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,450	$2.27	26d	1	0.70mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	9d	1	0.70mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	26d	1	0.70mi
3232 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,000	$1.79	26d	1	0.72mi
3244 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,300	$2.06	26d	1	0.72mi
3200 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,100	$1.88	26d	1	0.73mi
1751 NW 75th Ave #211 Plantation, FL	1.0	2.0	943	$1,700	$1.80	26d	1	0.74mi
2534 NW 73rd Ave Sunrise, FL	1.0	1.0	950	$1,750	$1.84	26d	1	0.75mi
8500 Sunrise Lakes Blvd #111 Sunrise, FL	2.0	2.0	850	$1,850	$2.18	16d	1	0.76mi
8500 Sunrise Lakes Blvd #111 Sunrise, FL	2.0	2.0	850	$1,850	$2.18	12d	1	0.76mi
8083-8093 W Oakland Park Blvd Sunrise, FL	1.0–3.0	1.0–2.0	1054	$3,226	$3.06	26d	37	0.77mi
8595 Sunrise Lakes Blvd Sunrise, FL	1.0	1.0	640	$1,550	$2.42	22d	2	0.79mi
8595 Sunrise Lakes Blvd #207 Sunrise, FL	1.0	1.0	640	$1,700	$2.66	26d	1	0.79mi

HOA detail condo

• Monthly dues: $625 · $7,500/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $140,000 Active 82 DOM
2. 2026-06-18
   days on market $140,000 Active 79 DOM
3. 2026-06-17
   days on market $140,000 Active 78 DOM
4. 2026-06-16
   days on market $140,000 Active 77 DOM
5. 2026-06-15
   days on market $140,000 Active 76 DOM
6. 2026-06-13
   days on market $140,000 Active 74 DOM
7. 2026-06-09
   days on market $140,000 Active 70 DOM
8. 2026-06-08
   days on market $140,000 Active 69 DOM
9. 2026-06-07
   days on market $140,000 Active 68 DOM
10. 2026-06-04
    days on market $140,000 Active 65 DOM
11. 2026-06-03
    days on market $140,000 Active 64 DOM
12. 2026-06-02
    days on market $140,000 Active 63 DOM
13. 2026-06-01
    days on market $140,000 Active 62 DOM
14. 2026-05-31
    days on market $140,000 Active 61 DOM
15. 2026-03-16
    listed $140,000 Active
16. 2026-01-31
    historical
17. 2026-01-16
    price $154,990
18. 2025-12-09
    price $155,000
19. 2025-12-03
    price $154,990
20. 2025-11-24
    price $155,000
21. 2025-09-17
    price $165,000
22. 2025-09-05
    price $164,999
23. 2025-08-11
    listed $165,000 Active
24. 2022-08-16
    soldstatus $160,000
25. 2022-08-11
    soldstatus $160,000 Closed 831-char remark

    Show marketing remark (831 chars)

    Are you ready to enjoy life in Florida? This 55+ 2/2 condo is just what you’ve been looking for. Close to everything you need, a backyard facing the community pool. Enjoy the kitchen with upgraded appliances, ample cabinet space, & easy-to-clean tile floors. The open floor plan lets you enjoy all the natural light while the hurricane impact windows help to keep things safe. Unwind in the spacious Master bedroom & have an extra room for guests or a home office. Watch the sunsets from the enclosed lanai, and walk to the clubhouse fitness center, & other amenities including 2 large swimming pools in the complex. The community has a laundry facility that is accessible with a key card. You’ll love being close to major highways, stores, & restaurants while enjoying a retreat when you are home.

26. 2022-07-11
    status Pending 831-char remark

    Show marketing remark (831 chars)

    Are you ready to enjoy life in Florida? This 55+ 2/2 condo is just what you’ve been looking for. Close to everything you need, a backyard facing the community pool. Enjoy the kitchen with upgraded appliances, ample cabinet space, & easy-to-clean tile floors. The open floor plan lets you enjoy all the natural light while the hurricane impact windows help to keep things safe. Unwind in the spacious Master bedroom & have an extra room for guests or a home office. Watch the sunsets from the enclosed lanai, and walk to the clubhouse fitness center, & other amenities including 2 large swimming pools in the complex. The community has a laundry facility that is accessible with a key card. You’ll love being close to major highways, stores, & restaurants while enjoying a retreat when you are home.

27. 2022-06-27
    listed $160,000 Active 831-char remark

    Show marketing remark (831 chars)

    Are you ready to enjoy life in Florida? This 55+ 2/2 condo is just what you’ve been looking for. Close to everything you need, a backyard facing the community pool. Enjoy the kitchen with upgraded appliances, ample cabinet space, & easy-to-clean tile floors. The open floor plan lets you enjoy all the natural light while the hurricane impact windows help to keep things safe. Unwind in the spacious Master bedroom & have an extra room for guests or a home office. Watch the sunsets from the enclosed lanai, and walk to the clubhouse fitness center, & other amenities including 2 large swimming pools in the complex. The community has a laundry facility that is accessible with a key card. You’ll love being close to major highways, stores, & restaurants while enjoying a retreat when you are home.

28. 2005-03-07
    soldstatus $58,000
29. 1995-02-13
    soldstatus $34,300
30. 1994-03-18
    soldstatus $30,000

ⓘ 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: $1,122 · $93/mo
• Projected year-2 tax: $1,162 · $97/mo
• Expected delta: +$40/yr (+$3/mo · 3.6%)

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

Taxation est. · year 1

• Rental income: $25,812
• − Mortgage interest: −$7,842
• − Property taxes: −$1,122
• − Insurance: −$700
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − HOA: −$7,500
• − Depreciation: −$4,073
• Taxable income: $445
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $2,152/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

+366.7% since first listed

16 events — show timeline

• 2026-03-16 Listed $140,000 MARMLS
• 2026-01-31 Listing Removed — MARMLS
• 2026-01-16 Price Changed $154,990 MARMLS
• 2025-12-09 Price Changed $155,000 MARMLS
• 2025-12-03 Price Changed $154,990 MARMLS
• 2025-11-24 Price Changed $155,000 MARMLS
• 2025-09-17 Price Changed $165,000 MARMLS
• 2025-09-05 Price Changed $164,999 MARMLS
• 2025-08-11 Listed $165,000 MARMLS
• 2022-08-16 Sold (Public Records) $160,000 Public Records
• 2022-08-11 Sold (MLS) $160,000 MARMLS
• 2022-07-11 Pending — MARMLS
• 2022-06-27 Listed $160,000 MARMLS
• 2005-03-07 Sold (Public Records) $58,000 Public Records
• 1995-02-13 Sold (Public Records) $34,300 Public Records
• 1994-03-18 Sold (Public Records) $30,000 Public Records

Property tax history

+16.1%/yr

Latest (2025): $1,122 · -10.1% YoY. Source: county tax records.