2651 E Sunrise Lakes Dr E #308 · Sunrise, FL 33322

$64,000

1 bd · 1.0 ba · 640 sqft · Condo public records · 17 Days on market

Built 1974 $507/mo HOA · 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

OUTSTANDING & MOVE IN READY!! Come see this immaculate, updated condo! Settle into a quiet adult neighborhood. Enjoy the many recreation facilities. Relax on your very private enclosed screen porch overlooking a vast water view. This central located unit is perfection. Owner is motivated. This is your answer to easy living! Make the move forward! Please call listing agent Shari or use Showingtime. (See all forms and information, uploaded into the MLS listing)

Key facts

• Vast water view
• $507 HOA
• Parking

Tags

• ENCLOSED SCREEN PORCH
• VAST WATER VIEW
• RECREATION FACILITIES

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association: Sunrise Lakes Phase One; Monthly HOA fee; Association amenities include clubhouse, elevators, laundry, parking, maintained community, maintenance, recreation facilities, pool, and reserve funds; HOA covers cable TV, grounds and structure maintenance, pest control, sewer, trash, water, common areas, elevator, roof repairs, pool service, and recreation facility

Exterior

• Parking: Asphalt and concrete parking; Guest parking; Loading space(s); Total of 1 parking space
• Security: Security lights; Secure elevator
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water connected
• Home design: Condominium; One level (unit in a 3-story building); Resale; Faces south; Located in a senior community
• Construction: CBS (concrete block) construction without stucco; Built with concrete materials
• Exterior features: In-ground private pool; Concrete roof; Not waterfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range / electric cooktop; Refrigerator; Freezer; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s); Electric cooling; Central individual cooling
• Interior features: Walk-in closet(s); Single-hung metal windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $64k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $63k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $19k; list at $64k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $63,040 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 2.74% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.22%
• DSCR: 2.17
• GRM: 3.0

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: 15.7%
• Equity multiple: 1.60×
• Total profit: $10,803
• Equity at exit: $9,543

10-year hold

• IRR: 21.4%
• Equity multiple: 2.50×
• Total profit: $26,852
• Equity at exit: $5,534

Cash invested: $17,920 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$336
• Tax from tax record: −$122 /mo · $1,465/yr
• Insurance: −$27
• HOA: −$507
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $392

Break-even live

Break-even rent $1,255

Max offer price $64,000

Occupancy floor 73%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,650	$2.28	20d	1	0.41mi
3048 E Sunrise Lakes Dr #412 Sunrise, FL	1.0	1.0	725	$1,400	$1.93	22d	1	0.41mi
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,600	$2.21	3d	1	0.41mi
8135 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$1,500	$2.01	24d	2	0.45mi
8100 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$1,380	$1.85	11d	2	0.45mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	17d	1	0.50mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	2d	1	0.50mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	24d	1	0.57mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	7d	1	0.57mi
8053 W Oakland Park Blvd Unit 6-307 Sunrise, FL	1.0	1.0	727	$2,618	$3.60	24d	1	0.70mi
8053 W Oakland Park Blvd Unit 1-204 Sunrise, FL	1.0	1.0	735	$2,450	$3.33	24d	1	0.70mi
8465 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,450	$2.27	24d	1	0.70mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	7d	1	0.70mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	24d	1	0.70mi
8083-8093 W Oakland Park Blvd Sunrise, FL	1.0–3.0	1.0–2.0	1054	$2,620	$2.48	24d	37	0.77mi
8595 Sunrise Lakes Blvd Sunrise, FL	1.0	1.0	640	$1,550	$2.42	20d	2	0.79mi
8595 Sunrise Lakes Blvd #207 Sunrise, FL	1.0	1.0	640	$1,700	$2.66	24d	1	0.79mi
8595 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	1d	1	0.79mi
2330 NW 72nd Ave Sunrise, FL	1.0–2.0	1.0	742	$1,650	$2.22	24d	1	0.79mi
8590 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,475	$2.30	24d	1	0.84mi
1711 N University Dr Plantation, FL	1.0–3.0	1.0–2.0	986	$2,250	$2.28	2d	41	0.85mi
7300 NW 17th St #318 Plantation, FL	1.0	1.0	660	$1,550	$2.35	24d	1	0.89mi
6901 W Sunrise Blvd Plantation, FL	1.0–3.0	1.0–2.0	1037	$2,062	$1.99	3d	42	1.04mi
1681 NW 70th Ave #418 Plantation, FL	1.0	1.0	660	$1,600	$2.42	24d	1	1.04mi
1681 NW 70th Ave #418 Plantation, FL	1.0	1.0	660	$1,700	$2.58	5d	1	1.04mi
4001 N University Dr Sunrise, FL	—	1.0	600	$1,388	$2.31	12d	1	1.16mi
6580 NW 22nd St Unit 2 Sunrise, FL	1.0	1.0	650	$1,000	$1.54	3d	1	1.16mi
7400 NW 13th St Plantation, FL	1.0	1.0	600	$1,400	$2.33	24d	1	1.25mi
3935 NW 87th Ave Sunrise, FL	1.0	1.0	595	$1,600	$2.69	24d	1	1.29mi
8798 NW 38th St Sunrise, FL	1.0–2.0	1.0–2.0	893	$1,826	$2.04	7d	1	1.29mi
1171 Lakepointe Lndg Plantation, FL	2.0	1.0–2.0	837	$2,364	$2.82	2d	21	1.29mi
3968 NW 87th Ave #3968 Sunrise, FL	1.0	1.0	595	$1,625	$2.73	7d	1	1.31mi
3968 NW 87th Ave #3968 Sunrise, FL	1.0	1.0	595	$1,625	$2.73	24d	1	1.31mi
4071 NW 87th Ave Sunrise, FL	1.0	1.0	595	$1,699	$2.86	24d	1	1.35mi
4072 NW 87th Ave Unit 4072 Sunrise, FL	1.0	1.0	595	$1,690	$2.84	17d	1	1.35mi
8775 NW 39th St #8775 Sunrise, FL	2.0	1.0	731	$1,845	$2.52	14d	1	1.35mi
4028 NW 87th Ave #4028 Sunrise, FL	1.0	1.0	595	$1,700	$2.86	24d	1	1.35mi
3973 NW 87th Ave #3973 Sunrise, FL	2.0	1.0	731	$1,899	$2.60	24d	1	1.35mi
6108 NW 26th St Sunrise, FL	1.0–3.0	1.0–2.0	925	$1,675	$1.81	1d	42	1.38mi
4044 NW 87th Ave #4044 Sunrise, FL	1.0	1.0	630	$1,649	$2.62	24d	1	1.39mi

HOA detail condo

• Monthly dues: $507 · $6,084/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $64,000 Active 17 DOM
2. 2026-06-17
   days on market $64,000 Active 16 DOM
3. 2026-06-16
   days on market $64,000 Active 15 DOM
4. 2026-06-15
   days on market $64,000 Active 14 DOM
5. 2026-06-13
   days on market $64,000 Active 12 DOM
6. 2026-06-09
   days on market $64,000 Active 8 DOM
7. 2026-06-08
   days on market $64,000 Active 7 DOM
8. 2026-06-07
   remarks 465-char remark
9. 2026-06-07
   days on market $64,000 Active 6 DOM
10. 2026-06-04
    days on market $64,000 Active 3 DOM
11. 2026-06-03
    days on market $64,000 Active 2 DOM
12. 2026-06-02
    remarks 398-char remark
13. 2026-06-02
    listed $64,000 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: $1,465 · $122/mo
• Projected year-2 tax: $1,465 · $122/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: $21,006
• − Mortgage interest: −$3,585
• − Property taxes: −$1,465
• − Insurance: −$320
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − HOA: −$6,084
• − Depreciation: −$1,862
• Taxable income: $4,330
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $3,660/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

+220.0% since first listed

5 events — show timeline

• 2026-05-28 Listed $64,000 Beaches MLS
• 2026-03-02 Listing Removed — Beaches MLS
• 2025-12-08 Listed $69,999 Beaches MLS
• 2001-03-05 Sold (Public Records) $19,000 Public Records
• 1977-10-01 Sold (Public Records) $20,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,465 · +5.7% YoY. Source: county tax records.