2998 Sunrise Lakes Dr E #116 · Sunrise, FL 33322

$110,000

2 bd · 2.0 ba · 868 sqft · Condo public records · 38 Days on market

Built 1977 $417/mo HOA · 20% 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 +29.7/30.0
• 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

as-is

Key facts

• $417 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Living area recorded as 868 (source: appraiser)
• Financial info: Pet restrictions: pets not allowed
• HOA & community: Association amenities include laundry, parking, and a pool; Monthly association fee charged (monthly fee listed by listing)

Exterior

• Parking: Assigned parking (1 space)
• Security: No pet policy for the community
• Utilities: Public water; Public sewer; Cable available; Electric service available; Water service available
• Home design: Condominium; One-level unit; Faces north; Resale property; Part of Quail Run 3 association
• Construction: CBS construction; Tar and gravel roof; Block foundation; Built as part of a 4-story building
• Exterior features: No waterfront; Pool available through association; Assigned parking on asphalt

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Individual central heating; Central air; Ceiling fans
• Interior features: No special interior features listed
• Laundry & utility: Building association laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: Somerset Village Academy (math 27% / reading 42%, grade F, #1,709 of 2,144 statewide, top 81%, 242 students, 93% FRL, charter); Bair Middle School (math 23% / reading 38%, grade F, #465 of 571 statewide, top 82%, 766 students, 72% FRL); Plantation High School (math 14% / reading 36%, grade F, #501 of 667 statewide, top 75%, 1,818 students, 68% FRL) — zoned schools average 77% FRL vs 51% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 559 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 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 $761 of loan paydown is wiped out by about $3k 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 38 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $110k implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.93% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.66%
• DSCR: 1.70
• GRM: 4.3

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $3,122
• Equity at exit: $16,401

10-year hold

• IRR: 8.8%
• Equity multiple: 1.57×
• Total profit: $17,525
• Equity at exit: $9,511

Cash invested: $30,800 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,123 high
• Mortgage (P&I): −$577
• Tax from tax record: −$236 /mo · $2,826/yr
• Insurance: −$46
• HOA: −$417
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $402

Break-even live

Break-even rent $1,614

Max offer price $110,000

Occupancy floor 76%

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: $27,500
• Closing costs: $3,300
• 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	$1,600	$2.21	3d	1	0.08mi
3048 E Sunrise Lakes Dr #412 Sunrise, FL	1.0	1.0	725	$1,400	$1.93	22d	1	0.08mi
3048 Sunrise Lakes Dr E Unit 411 Sunrise, FL	1.0	1.0	725	$1,650	$2.28	20d	1	0.08mi
7891 Sunrise Lakes Dr N Sunrise, FL	2.0	2.0	850	$2,500	$2.94	24d	1	0.21mi
7461 NW 23rd St Sunrise, FL	2.0	1.0	896	$2,550	$2.85	14d	1	0.52mi
2534 NW 73rd Ave Sunrise, FL	1.0	1.0	950	$1,750	$1.84	24d	1	0.53mi
8100 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$2,200	$2.95	11d	2	0.57mi
6885 NW 27th Ct Sunrise, FL	2.0	1.0	923	$2,090	$2.26	12d	1	0.57mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	2d	1	0.59mi
8110 Sunrise Lakes Blvd #307 Sunrise, FL	1.0	1.0	640	$1,500	$2.34	17d	1	0.59mi
8135 Sunrise Lakes Blvd Sunrise, FL	1.0–2.0	1.0–2.0	745	$1,550	$2.08	24d	2	0.61mi
8135 Sunrise Lakes Blvd #302 Sunrise, FL	2.0	2.0	850	$1,550	$1.82	11d	1	0.62mi
8053 W Oakland Park Blvd Unit 6-301 Sunrise, FL	2.0	2.0	1124	$3,411	$3.03	24d	1	0.62mi
8053 W Oakland Park Blvd Unit 5-101 Sunrise, FL	1.0	1.0	986	$3,354	$3.40	24d	1	0.62mi
8053 W Oakland Park Blvd Sunrise, FL	1.0	1.0	846	$2,779	$3.28	24d	1	0.62mi
8053 W Oakland Park Blvd Unit 1-201 Sunrise, FL	2.0	2.0	1107	$3,223	$2.91	24d	1	0.62mi
8053 W Oakland Park Blvd Unit 5-305 Sunrise, FL	1.0	1.0	846	$2,702	$3.19	24d	1	0.62mi
8053 W Oakland Park Blvd Unit 6-307 Sunrise, FL	1.0	1.0	727	$2,618	$3.60	24d	1	0.62mi
8053 W Oakland Park Blvd Unit 1-204 Sunrise, FL	1.0	1.0	735	$2,450	$3.33	24d	1	0.62mi
8310 NW 24th Pl Sunrise, FL	2.0	1.0	900	$2,400	$2.67	18d	1	0.64mi
2921 NW 68th Ter #1 Sunrise, FL	2.0	2.0	975	$1,900	$1.95	24d	1	0.66mi
2921 NW 68th Ter #1 Sunrise, FL	2.0	2.0	975	$1,900	$1.95	7d	1	0.66mi
2330 NW 72nd Ave Sunrise, FL	1.0–2.0	1.0	742	$1,900	$2.56	24d	1	0.66mi
7620 NW 21st St Sunrise, FL	3.0	2.0	1082	$2,750	$2.54	15d	1	0.68mi
8225 Sunrise Lakes Blvd #303 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	3d	1	0.68mi
8083-8093 W Oakland Park Blvd Sunrise, FL	1.0–3.0	1.0–2.0	1054	$3,226	$3.06	24d	37	0.71mi
8220 Sunrise Lakes Blvd #309 Sunrise, FL	2.0	2.0	850	$1,650	$1.94	24d	1	0.71mi
3220 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,150	$1.93	24d	1	0.72mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	7d	1	0.73mi
8285 Sunrise Lakes Blvd #208 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	24d	1	0.73mi
8300 Sunrise Lakes Blvd #212 Sunrise, FL	2.0	2.0	850	$1,900	$2.24	3d	1	0.76mi
3232 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,000	$1.79	24d	1	0.77mi
6701 W Oakland Park Blvd Fort Lauderdale, FL	1.0–2.0	1.0–2.0	1000	$2,389	$2.39	2d	9	0.77mi
3200 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,100	$1.88	24d	1	0.78mi
3244 NW 84th Ave Sunrise, FL	2.0	2.0	1115	$2,300	$2.06	24d	1	0.78mi
3900 NW 76th Ave #107 Sunrise, FL	2.0	2.0	1030	$1,750	$1.70	24d	1	0.81mi
8350 Sunrise Lakes Blvd #204 Sunrise, FL	2.0	2.0	850	$1,600	$1.88	24d	1	0.82mi
3671 Environ Blvd #470 Lauderhill, FL	2.0	2.0	1100	$1,875	$1.70	24d	1	0.85mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	24d	1	0.85mi
8400 Sunrise Lakes Blvd #106 Sunrise, FL	1.0	1.0	640	$1,400	$2.19	7d	1	0.85mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $110,000 Active 38 DOM
2. 2026-06-17
   days on market $110,000 Active 37 DOM
3. 2026-06-16
   days on market $110,000 Active 36 DOM
4. 2026-06-15
   days on market $110,000 Active 35 DOM
5. 2026-06-13
   days on market $110,000 Active 33 DOM
6. 2026-06-09
   days on market $110,000 Active 29 DOM
7. 2026-06-08
   days on market $110,000 Active 28 DOM
8. 2026-06-07
   days on market $110,000 Active 27 DOM
9. 2026-06-04
   days on market $110,000 Active 24 DOM
10. 2026-06-03
    days on market $110,000 Active 23 DOM
11. 2026-06-02
    days on market $110,000 Active 22 DOM
12. 2026-06-01
    days on market $110,000 Active 21 DOM
13. 2026-05-31
    days on market $110,000 Active 20 DOM
14. 2026-05-11
    listed $110,000 Active
15. 1998-05-14
    soldstatus $35,000

ⓘ 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: $2,826 · $236/mo
• Projected year-2 tax: $2,826 · $236/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $25,477
• − Mortgage interest: −$6,162
• − Property taxes: −$2,826
• − Insurance: −$550
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − HOA: −$5,004
• − Depreciation: −$3,200
• Taxable income: $3,659
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $3,946/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

+214.3% since first listed

2 events — show timeline

• 2026-05-11 Listed $110,000 Beaches MLS
• 1998-05-14 Sold (Public Records) $35,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $2,826 · -8.5% YoY. Source: county tax records.