2603 NW 103rd Ave #401 · Sunrise, FL 33322

$318,900

3 bd · 2.0 ba · 1,470 sqft · Condo public records · 33 Days on market

Built 1989 $642/mo HOA · 20% of rent

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Why this score? — see what drove the D 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 +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the sought-after Island of Sunrise Lakes, just minutes from Fort Lauderdale's stunning beaches, this rare corner penthouse is the largest in the community and has been beautifully renovated top to bottom. Wake up to peaceful lake views and enjoy premium finishes throughout — porcelain tile floors, LED lighting, pull-out cabinetry, updated electrical, and stainless-steel appliances with a full-size washer and dryer. The third bedroom was reimagined as an elegant dining room with a built-in wet bar, perfect for entertaining, and can easily be converted back. Hurricane-impact windows with remote shades and a newer AC complete this stunning home. Resort amenities include a pool

Key facts

• Pull-out cabinetry
• Lake views
• Led lighting

Tags

• CORNER PENTHOUSE
• LAKE VIEWS
• PREMIUM FINISHES
• PORCELAIN TILE FLOORS
• LED LIGHTING
• PULL-OUT CABINETRY

Property features AI

Finance

• HOA & community: Association amenities include pool, tennis courts, shuffleboard court, golf course access, billiard room, library, parking, street lights, trash chute, and internet included; Monthly association fee; Association fee covers cable TV, insurance, grounds maintenance, trash, water, common real estate tax, elevator, and recreation facilities; Pets allowed (call for details); Senior community

Exterior

• Parking: Assigned parking and guest spaces (2 open parking spaces total)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; One-level living; Faces southeast; Resale unit
• Construction: Block, concrete and stucco construction; Flat roof; 4-story building
• Exterior features: Sidewalks; Heated in-ground spa

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Electric cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Concrete; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Built-in features; Wet bar; Walk-in closets; Closet cabinetry; Unfurnished
• Laundry & utility: Laundry room and laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $8 ($102/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $319k).
• Recommended offer: $309k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 4.9% in Sunrise — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 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).
• At $3,225/mo this rent would consume 54% 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 $2k of loan paydown is wiped out by about $10k 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 33 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 3 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 $103k; list at $319k implies a 210% gain — meaningful room to come down on a strong offer.

Recommended offer $309,333 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.01
• GRM: 8.2

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: -19.2%
• Equity multiple: 0.34×
• Total profit: $-58,488
• Equity at exit: $47,549

10-year hold

• IRR: -18.7%
• Equity multiple: 0.12×
• Total profit: $-78,946
• Equity at exit: $27,573

Cash invested: $89,292 (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: 8.2×

Monthly cashflow live

• Estimated rent: $3,225 high
• Mortgage (P&I): −$1,672
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$133
• HOA: −$642
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $8

Break-even live

Break-even rent $3,214

Max offer price $318,900

Occupancy floor 95%

Sensitivity live

Price	-10% $189	-5% $99	+0% $8	+5% $-82	+10% $-172
Rent	-10% $-246	-5% $-119	+0% $8	+5% $136	+10% $263
Rate	-1.0pp $169	-0.5pp $90	base $8	+0.5pp $-74	+1.0pp $-158

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: $79,725
• Closing costs: $9,567
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,600	$2.73	0d	1	0.24mi
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	26d	1	0.25mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	26d	1	0.26mi
10691 NW 28th St Sunrise, FL	4.0	2.0	1438	$4,500	$3.13	19d	1	0.36mi
10691 NW 28th St Sunrise, FL	4.0	2.0	1603	$4,500	$2.81	26d	1	0.36mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	26d	1	0.37mi
2590 NW 98th Ave Sunrise, FL	2.0	2.0	1247	$3,000	$2.41	3d	1	0.37mi
2920 NW 99th Ter Sunrise, FL	3.0	2.5	1680	$4,800	$2.86	26d	1	0.38mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	8	0.49mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	6d	9	0.49mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	20d	6	0.49mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	3d	9	0.49mi
3160 NW 101st Ave Sunrise, FL	3.0	2.0	1780	$4,000	$2.25	26d	1	0.53mi
10900 NW 28th St Sunrise, FL	4.0	2.0	1459	$4,250	$2.91	26d	1	0.54mi
10784 NW 23rd Ct Sunrise, FL	3.0	2.0	1430	$3,150	$2.20	13d	1	0.55mi
10758 NW 30th Pl Sunrise, FL	2.0	2.0	1074	$2,200	$2.05	19d	1	0.55mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	26d	1	0.56mi
9650 NW 24th St Sunrise, FL	3.0	2.0	1542	$3,500	$2.27	9d	1	0.56mi
9970 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,199	$1.85	26d	1	0.57mi
9521 NW 25th St Sunrise, FL	3.0	2.0	1616	$2,935	$1.82	0d	1	0.60mi
9840 NW 19th Pl Sunrise, FL	3.0	2.5	1727	$3,395	$1.97	26d	1	0.60mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	26d	1	0.61mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	26d	1	0.61mi
9571 Sunset Strip Sunrise, FL	3.0	2.0	1418	$3,450	$2.43	23d	1	0.61mi
2650 NW 94th Way Sunrise, FL	2.0	2.0	1200	$2,900	$2.42	3d	1	0.63mi
2631 NW 94th Ave Sunrise, FL	2.0	2.0	1350	$3,456	$2.56	6d	1	0.65mi
3344 NW 103rd Ave Sunrise, FL	3.0	2.0	1512	$3,100	$2.05	9d	1	0.68mi
10240 NW 33rd Pl Sunrise, FL	3.0	2.0	1512	$2,950	$1.95	26d	1	0.68mi
10105 W Sunrise Blvd #306 Plantation, FL	2.0	2.0	963	$2,300	$2.39	26d	1	0.71mi
9551 NW 19th Pl Fort Lauderdale, FL	3.0	2.0	1577	$3,700	$2.35	23d	1	0.74mi
10161 W Sunrise Blvd #101 Plantation, FL	2.0	2.0	963	$2,500	$2.60	26d	1	0.74mi
10991 NW 30th Pl #10991 Sunrise, FL	3.0	2.0	1144	$2,950	$2.58	26d	1	0.78mi
11100 NW 21st St Sunrise, FL	4.0	3.0	1529	$4,000	$2.62	26d	1	0.84mi
9100 NW 26th Pl Sunrise, FL	3.0	2.0	1047	$2,995	$2.86	23d	1	0.94mi
9100 NW 26th Pl Sunrise, FL	2.0	2.0	1047	$2,995	$2.86	26d	1	0.94mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	9d	1	0.95mi
3633 NW 99th Ter Unit 7B Sunrise, FL	2.0	2.0	1224	$2,500	$2.04	23d	1	0.95mi
10900 NW 17th St Plantation, FL	1.0–3.0	1.0–2.5	1270	$2,950	$2.32	0d	19	0.98mi
9151 W Sunrise Blvd #9151 Plantation, FL	3.0	2.0	1482	$2,750	$1.86	26d	1	0.99mi
9827 NW 37th St Unit 4F Sunrise, FL	2.0	2.0	1190	$2,400	$2.02	26d	1	1.00mi

HOA detail condo

• Monthly dues: $642 · $7,704/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $318,900 Active 33 DOM
2. 2026-06-18
   days on market $318,900 Active 30 DOM
3. 2026-06-17
   days on market $318,900 Active 29 DOM
4. 2026-06-16
   days on market $318,900 Active 28 DOM
5. 2026-06-15
   days on market $318,900 Active 27 DOM
6. 2026-06-13
   days on market $318,900 Active 25 DOM
7. 2026-06-09
   days on market $318,900 Active 21 DOM
8. 2026-06-08
   days on market $318,900 Active 20 DOM
9. 2026-06-07
   days on market $318,900 Active 19 DOM
10. 2026-06-04
    days on market $318,900 Active 16 DOM
11. 2026-06-03
    days on market $318,900 Active 15 DOM
12. 2026-06-02
    days on market $318,900 Active 14 DOM
13. 2026-06-01
    days on market $318,900 Active 13 DOM
14. 2026-05-31
    days on market $318,900 Active 12 DOM
15. 2026-05-19
    listed $318,900 Active
16. 2026-01-01
    historical
17. 2025-11-21
    status Active
18. 2025-11-20
    status Pending
19. 2025-09-16
    price $299,000
20. 2025-07-28
    price $314,000
21. 2025-07-11
    listed $324,000 Active
22. 2002-04-01
    soldstatus $103,000
23. 1993-03-26
    soldstatus $99,000

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $2,647 · $221/mo
• Expected delta: +$1,541/yr (+$128/mo · 139.4%)

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

Taxation est. · year 1

• Rental income: $38,701
• − Mortgage interest: −$17,863
• − Property taxes: −$1,106
• − Insurance: −$1,594
• − Repairs & maintenance: −$3,096
• − Management: −$3,096
• − HOA: −$7,704
• − Depreciation: −$9,277
• Taxable loss: −$5,036
• Est. tax savings @ 24.0%: +$1,209
• After-tax cash flow: $1,310/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

+222.1% since first listed

9 events — show timeline

• 2026-05-19 Listed $318,900 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-11-21 Relisted — Beaches MLS
• 2025-11-20 Pending — Beaches MLS
• 2025-09-16 Price Changed $299,000 Beaches MLS
• 2025-07-28 Price Changed $314,000 Beaches MLS
• 2025-07-11 Listed $324,000 Beaches MLS
• 2002-04-01 Sold (Public Records) $103,000 Public Records
• 1993-03-26 Sold (Public Records) $99,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,106 · +6.2% YoY. Source: county tax records.