2705 NW 104th Ave #406 · Sunrise, FL 33322

$199,500

2 bd · 2.0 ba · 1,370 sqft · Condo public records · 5 Days on market

Built 1987 $573/mo HOA · 19% 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 +24.1/30.0
• 1% rule +9.7/10.0
• DSCR +7.8/10.0
• 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

Exclusive top-floor corner 2BR/2BA condo located just steps from the elevator in desirable Sunrise Lakes Phase 4! Enjoy added privacy, abundant natural light, and the convenience of easy access. This beautifully home features updated modern kitchen, easy-care flooring throughout, and a private laundry room with washer and dryer included. Experience resort-style 55+ living with pools, clubhouse, theater, fitness center, golf, cable, internet, and more. Conveniently located near shopping, dining, medical facilities, and everyday conveniences.

Key facts

• Clubhouse
• Top-floor corner
• Private laundry room

Tags

• TOP-FLOOR CORNER
• ELEVATOR ACCESS
• PRIVATE LAUNDRY ROOM
• RESORT-STYLE AMENITIES
• POOLS
• CLUBHOUSE

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Has association: Sunrise Lakes Condominium Phase 4 Inc 2; Monthly HOA fee (paid monthly); Association amenities include clubhouse, fitness center, golf course, pool, sauna, tennis courts, courtesy bus, handball, and maintained community; HOA covers cable TV, insurance, internet, grounds maintenance, structure maintenance, pest control, sewer, trash, water, common areas, elevator, golf, hot water, reserve funds, and roof repairs

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; One level; Faces east; Located in Sunrise Lakes Condo Phase 4 (Building 214)
• Construction: Concrete construction; Other roof type
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Tankless water heater (serves kitchen/bath as applicable)
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Unfurnished
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 8.7% 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).
• At $2,941/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 $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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $165k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.47% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.44%
• DSCR: 1.38
• GRM: 5.7

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-13,861
• Equity at exit: $29,746

10-year hold

• IRR: -1.6%
• Equity multiple: 0.90×
• Total profit: $-5,419
• Equity at exit: $17,249

Cash invested: $55,860 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,941 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$228 /mo · $2,737/yr
• Insurance: −$83
• HOA: −$573
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $393

Break-even live

Break-even rent $2,444

Max offer price $199,500

Occupancy floor 82%

Sensitivity live

Price	-10% $506	-5% $449	+0% $393	+5% $336	+10% $280
Rent	-10% $160	-5% $277	+0% $393	+5% $509	+10% $625
Rate	-1.0pp $493	-0.5pp $444	base $393	+0.5pp $341	+1.0pp $289

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: $49,875
• Closing costs: $5,985
• 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	0d	1	0.43mi
10784 NW 23rd Ct Sunrise, FL	3.0	2.0	1430	$3,150	$2.20	13d	1	0.47mi
2920 NW 99th Ter Sunrise, FL	3.0	2.5	1680	$4,800	$2.86	26d	1	0.48mi
3160 NW 101st Ave Sunrise, FL	3.0	2.0	1780	$4,000	$2.25	26d	1	0.54mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	3d	1	0.56mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	26d	1	0.56mi
10991 NW 30th Pl #10991 Sunrise, FL	3.0	2.0	1144	$2,950	$2.58	26d	1	0.58mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	19d	6	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	6d	9	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	8	0.59mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	9	0.59mi
3344 NW 103rd Ave Sunrise, FL	3.0	2.0	1512	$3,100	$2.05	9d	1	0.61mi
10240 NW 33rd Pl Sunrise, FL	3.0	2.0	1512	$2,950	$1.95	26d	1	0.63mi
9970 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,199	$1.85	26d	1	0.71mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	26d	1	0.73mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	26d	1	0.76mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	9d	1	0.76mi
9840 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,395	$1.97	26d	1	0.76mi
9521 NW 25th St Sunrise, FL	3.0	2.0	1616	$2,935	$1.82	0d	1	0.80mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	26d	1	0.81mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	23d	1	0.81mi
2650 NW 94th Way Sunrise, FL	2.0	2.0	1200	$2,900	$2.42	3d	1	0.82mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	26d	1	0.83mi
2631 NW 94th Ave Sunrise, FL	2.0	2.0	1350	$3,456	$2.56	6d	1	0.84mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	26d	1	0.85mi
11338 NW 33rd St Sunrise, FL	3.0	2.5	1801	$5,000	$2.78	26d	1	0.88mi
11386 NW 33rd St Unit 11386 Sunrise, FL	2.0	2.5	1498	$2,900	$1.94	19d	1	0.91mi
9551 NW 19th Pl Fort Lauderdale, FL	3.0	2.0	1577	$3,700	$2.35	23d	1	0.93mi
11461 NW 32nd Pl Sunrise, FL	3.0	2.0	1572	$3,500	$2.23	26d	1	0.93mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	23d	1	0.94mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	9d	1	0.94mi
3504 NW 111th Ave #3504 Sunrise, FL	3.0	2.0	1508	$2,950	$1.96	23d	1	0.96mi
3504 NW 111th Ave #3504 Sunrise, FL	3.0	2.0	1508	$2,900	$1.92	5d	1	0.96mi
10900 NW 17th St Plantation, FL	1.0–3.0	1.0–2.5	1270	$2,344	$1.85	0d	19	0.97mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,100	$1.85	4d	1	0.99mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,200	$1.91	15d	1	0.99mi
11500 NW 33rd St Sunrise, FL	3.0	3.0	1678	$3,200	$1.91	18d	1	0.99mi

HOA detail condo

• Monthly dues: $573 · $6,876/yr
• Likely covers: internetcablepoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-21
   remarks 546-char remark
2. 2026-06-21
   days on market $199,500 Active 5 DOM
3. 2026-06-18
   days on market $199,500 Active 2 DOM
4. 2026-06-17
   remarks 492-char remark
5. 2026-06-17
   listed $199,500 Active 1 DOM

ⓘ 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: $2,737 · $228/mo
• Projected year-2 tax: $2,737 · $228/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,290
• − Mortgage interest: −$11,175
• − Property taxes: −$2,737
• − Insurance: −$998
• − Repairs & maintenance: −$2,823
• − Management: −$2,823
• − HOA: −$6,876
• − Depreciation: −$5,804
• Taxable income: $2,054
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $4,221/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

+204.6% since first listed

20 events — show timeline

• 2026-06-16 Listed $199,500 Beaches MLS
• 2026-03-18 Listing Removed — MARMLS
• 2026-02-14 Price Changed $185,000 MARMLS
• 2026-01-16 Price Changed $199,990 MARMLS
• 2026-01-04 Price Changed $200,000 MARMLS
• 2025-12-09 Price Changed $215,000 MARMLS
• 2025-12-03 Price Changed $214,990 MARMLS
• 2025-10-03 Price Changed $215,000 MARMLS
• 2025-09-17 Price Changed $214,999 MARMLS
• 2025-09-08 Listed $215,000 MARMLS
• 2025-05-13 Listing Removed — MARMLS
• 2025-03-07 Listed $260,000 MARMLS
• 2022-10-18 Sold (Public Records) $165,000 Public Records
• 2022-10-18 Sold (MLS) $165,000 MARMLS
• 2022-10-05 Pending — MARMLS
• 2022-09-05 Contingent — MARMLS
• 2022-08-30 Price Changed $167,500 MARMLS
• 2022-07-04 Listed $175,000 MARMLS
• 2000-03-24 Sold (Public Records) $60,000 Public Records
• 1987-12-01 Sold (Public Records) $65,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,737 · +3.9% YoY. Source: county tax records.