2635 NW 104th Ave #403 · Sunrise, FL 33322

$149,000

2 bd · 2.0 ba · 815 sqft · Condo public records · 56 Days on market

Built 1987 $647/mo HOA · 29% of rent

---

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 +17.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 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

Amazing unit on the top floor with a water view. You can relax on the balcony overlooking the water or take advantage of one of the many activities that the community has to offer. Bring your buyers and they will fall in love with this Beautiful unit . There are pools, tennis courts, racquetball courts, tennis courts, gym, spa, sauna, billiards, live shows and a courtesy bus. Maintenance includes all of these activities plus water, pest control, basic cable and master insurance. Close to Hard Rock, Sawgrass Mills and so many great restaurants. This gem is waiting for you. Community is 55+.

Key facts

• Stunning new kitchen
• New appliances
• Custom closets

Tags

• GATED SUNRISE LAKES PHASE 4
• FULLY REMODELED BATHROOMS
• STUNNING NEW KITCHEN
• CUSTOM CLOSETS
• NEW APPLIANCES
• TANKLESS WATER HEATER

Property features AI

Finance

• Financial info: Association fee collected monthly
• HOA & community: HOA with monthly fee (includes pest control, sewer, trash, water, common areas, hot water); Community amenities: clubhouse, fitness center, golf course, picnic area, pool, spa/hot tub, trash chute, community room, internet included; Senior community

Exterior

• Parking: Detached carport; Carport (1 parking space total)
• Security: Security guard; Other security features
• Utilities: Public water; Public sewer; Cable connected
• Home design: Condominium; Resale; Faces east; 4-story building
• Construction: CBS construction; Concrete roof
• Exterior features: Screened porch; Waterfront: Yes (no specific waterfront features listed)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Water purifier (owned)
• Bedrooms: 2 bedrooms on main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Closet cabinetry; Blinds
• Laundry & utility: Laundry closet; Water softener (owned); Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $125 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Zoned schools: Nob Hill Elementary School (math 52% / reading 54%, grade C, #963 of 2,144 statewide, top 45%, 541 students, 57% FRL); Bair Middle School (math 23% / reading 38%, grade F, #465 of 571 statewide, top 82%, 766 students, 72% FRL); Piper High School (math 12% / reading 35%, grade F, #533 of 667 statewide, top 80%, 2,310 students, 65% FRL).
• 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).
• 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 $1k 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 56 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $18k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $128k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.50% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 5.5

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: -14.6%
• Equity multiple: 0.49×
• Total profit: $-21,087
• Equity at exit: $22,216

10-year hold

• IRR: -13.3%
• Equity multiple: 0.35×
• Total profit: $-27,146
• Equity at exit: $12,883

Cash invested: $41,720 (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: 5.5×

Monthly cashflow live

• Estimated rent: $2,241 high
• Mortgage (P&I): −$781
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$62
• HOA: −$647
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $125

Break-even live

Break-even rent $2,084

Max offer price $149,000

Occupancy floor 89%

Sensitivity live

Price	-10% $209	-5% $167	+0% $125	+5% $82	+10% $40
Rent	-10% $-53	-5% $36	+0% $125	+5% $213	+10% $302
Rate	-1.0pp $200	-0.5pp $162	base $125	+0.5pp $86	+1.0pp $47

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: $37,250
• Closing costs: $4,470
• 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	19d	1	0.38mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	26d	1	0.41mi
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	26d	1	0.42mi
2566 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,600	$2.73	1d	1	0.43mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	7d	9	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	4d	8	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	20d	6	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	9	0.59mi
9720 NW 24th Pl Unit B Sunrise, FL	1.0	1.0	700	$1,750	$2.50	26d	1	0.69mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	26d	1	0.73mi
10115 W Sunrise Blvd #104 Plantation, FL	1.0	1.0	806	$1,800	$2.23	4d	1	0.80mi
10115 W Sunrise Blvd #104 Plantation, FL	1.0	1.0	806	$1,850	$2.30	16d	1	0.80mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	26d	1	0.83mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	26d	1	0.85mi
10053 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	10d	1	0.90mi
10050 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	760	$1,750	$2.30	26d	1	0.92mi
10046 Winding Lake Rd #204 Sunrise, FL	2.0	1.0	760	$1,800	$2.37	26d	1	0.93mi
10002 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$1,900	$2.50	26d	1	0.93mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	23d	1	0.93mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	5d	1	0.93mi
10039 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	26d	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	26d	1	0.95mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,850	$2.40	10d	1	0.95mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,900	$2.46	26d	1	0.95mi
10900 NW 17th St Plantation, FL	1.0–3.0	1.0–2.5	1270	$2,344	$1.85	1d	19	0.97mi
10016 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,100	$2.76	26d	1	0.99mi
10025 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$1,700	$2.24	26d	1	1.02mi
3548 NW 111th Ter Sunrise, FL	3.0	2.0	1024	$2,675	$2.61	22d	1	1.02mi
9994 Nob Hill Ct #9994 Sunrise, FL	2.0	2.0	840	$1,975	$2.35	26d	1	1.05mi
9982 Nob Hill Ct #9982 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	15d	1	1.05mi
9954 Nob Hill Ct #9954 Sunrise, FL	2.0	2.0	900	$1,900	$2.11	26d	1	1.07mi
9926 Nob Hill Ct #9926 Sunrise, FL	2.0	2.0	915	$2,400	$2.62	26d	1	1.07mi
3621 NW 95th Ter #523 Sunrise, FL	2.0	2.0	970	$2,150	$2.22	26d	1	1.08mi
3531 NW 94th Ave Unit 6B Sunrise, FL	2.0	2.0	925	$1,925	$2.08	17d	1	1.08mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,099	$2.33	23d	1	1.09mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,001	$2.22	19d	1	1.09mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,054	$2.28	5d	1	1.09mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	26d	1	1.09mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,100	$2.33	14d	1	1.09mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: watercableinsurancepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-06
   status Pending
2. 2026-04-22
   historical Active Under Contract
3. 2026-04-16
   status Active
4. 2026-04-14
   historical Active Under Contract
5. 2026-04-07
   price $149,000
6. 2026-03-18
   price $157,000
7. 2026-01-29
   listed $167,000 Active
8. 2024-10-22
   soldstatus $127,500
9. 2018-09-26
   soldstatus $75,000
10. 2018-09-21
    soldstatus $75,000 Sold 596-char remark

    Show marketing remark (596 chars)

    Amazing unit on the top floor with a water view. You can relax on the balcony overlooking the water or take advantage of one of the many activities that the community has to offer. Bring your buyers and they will fall in love with this Beautiful unit . There are pools, tennis courts, racquetball courts, tennis courts, gym, spa, sauna, billiards, live shows and a courtesy bus. Maintenance includes all of these activities plus water, pest control, basic cable and master insurance. Close to Hard Rock, Sawgrass Mills and so many great restaurants. This gem is waiting for you. Community is 55+.

11. 2018-08-13
    status Pending 596-char remark

    Show marketing remark (596 chars)

    Amazing unit on the top floor with a water view. You can relax on the balcony overlooking the water or take advantage of one of the many activities that the community has to offer. Bring your buyers and they will fall in love with this Beautiful unit . There are pools, tennis courts, racquetball courts, tennis courts, gym, spa, sauna, billiards, live shows and a courtesy bus. Maintenance includes all of these activities plus water, pest control, basic cable and master insurance. Close to Hard Rock, Sawgrass Mills and so many great restaurants. This gem is waiting for you. Community is 55+.

12. 2018-07-26
    listed $80,000 Active 596-char remark

    Show marketing remark (596 chars)

    Amazing unit on the top floor with a water view. You can relax on the balcony overlooking the water or take advantage of one of the many activities that the community has to offer. Bring your buyers and they will fall in love with this Beautiful unit . There are pools, tennis courts, racquetball courts, tennis courts, gym, spa, sauna, billiards, live shows and a courtesy bus. Maintenance includes all of these activities plus water, pest control, basic cable and master insurance. Close to Hard Rock, Sawgrass Mills and so many great restaurants. This gem is waiting for you. Community is 55+.

ⓘ 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: $1,868 · $156/mo
• Projected year-2 tax: $1,868 · $156/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: $26,896
• − Mortgage interest: −$8,346
• − Property taxes: −$1,868
• − Insurance: −$745
• − Repairs & maintenance: −$2,152
• − Management: −$2,152
• − HOA: −$7,764
• − Depreciation: −$4,335
• Taxable loss: −$465
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $1,606/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

+86.2% since first listed

12 events — show timeline

• 2026-05-06 Pending — Beaches MLS
• 2026-04-22 Contingent — Beaches MLS
• 2026-04-16 Relisted — Beaches MLS
• 2026-04-14 Contingent — Beaches MLS
• 2026-04-07 Price Changed $149,000 Beaches MLS
• 2026-03-18 Price Changed $157,000 Beaches MLS
• 2026-01-29 Listed $167,000 Beaches MLS
• 2024-10-22 Sold (Public Records) $127,500 Public Records
• 2018-09-26 Sold (Public Records) $75,000 Public Records
• 2018-09-21 Sold (MLS) $75,000 MARMLS
• 2018-08-13 Pending — MARMLS
• 2018-07-26 Listed $80,000 MARMLS

Property tax history

+9.0%/yr

Latest (2025): $1,868 · +189.6% YoY. Source: county tax records.