10405 Sunrise Lakes Blvd #205 · Sunrise, FL 33322

$169,500

2 bd · 2.0 ba · 850 sqft · Condo public records · 22 Days on market

Built 1983 $668/mo HOA · 30% 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 +15.5/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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

PRICED TO SELL!! NEEDS TLC ENJOY UPDATING, THIS GREAT 2 BEDROOM/2 BATH UNIT. LOADS OF AMENITIES. CLUB HOUSE, POOL AREA, BUS SERVICE & MUCH MORE. ASSOC SAYS 55+ COMMUNITY. PROPERTY IS SOLD "AS IS" WITH RIGHT TO INSPECT

Key facts

• Enclosed balcony
• Fitness center
• Access to pools

Tags

• ENCLOSED BALCONY
• LAKE AND GOLF COURSE VIEWS
• ACCESS TO POOLS
• FITNESS CENTER
• TENNIS COURTS
• WALKING PATHS

Property features AI

Finance

• Other: $748 monthly association fee
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes cable TV, water, sewer and trash; Community clubhouse; Elevator(s); Fitness center; Library; Barbecue and picnic area; Pool; Trash service; Transportation service

Exterior

• Parking: 1 covered parking space; 1-car garage
• Security: Closed-circuit cameras; Secured lobby; Security guard
• Utilities: Water service; Sewer service; Power: central
• Home design: Attached property; 3 stories; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony; Porch; Screened porch; Heated pool; Bayfront waterfront; Has view

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Trash compactor
• Bedrooms: Primary bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Main-level primary bedroom; Bedroom on main level; Closet cabinetry; Walk-in closet(s)
• Laundry & utility: Washer hookup; Dryer; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $69 ($828/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% 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).
• 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 $5k 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 22 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $24k; list at $170k implies a 621% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $166,957 (1.5% below list)

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. 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?
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: 1.31% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 6.4

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: -17.2%
• Equity multiple: 0.41×
• Total profit: $-27,964
• Equity at exit: $25,273

10-year hold

• IRR: -16.9%
• Equity multiple: 0.20×
• Total profit: $-37,770
• Equity at exit: $14,655

Cash invested: $47,460 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,223 high
• Mortgage (P&I): −$889
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$71
• HOA: −$668
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $69

Break-even live

Break-even rent $2,136

Max offer price $169,500

Occupancy floor 92%

Sensitivity live

Price	-10% $165	-5% $117	+0% $69	+5% $21	+10% $-27
Rent	-10% $-107	-5% $-19	+0% $69	+5% $157	+10% $245
Rate	-1.0pp $154	-0.5pp $112	base $69	+0.5pp $25	+1.0pp $-20

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: $42,375
• Closing costs: $5,085
• 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	18d	1	0.30mi
2734 N Nob Hill Rd Sunrise, FL	2.0	2.0	954	$2,400	$2.52	25d	1	0.37mi
2698 N Nob Hill Rd Sunrise, FL	2.0	2.0	1008	$2,275	$2.26	25d	1	0.40mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	2d	8	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	19d	6	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	2d	9	0.46mi
9999 Summerbreeze Dr Sunrise, FL	1.0–2.0	1.0–2.0	889	$2,200	$2.47	5d	9	0.46mi
10053 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	8d	1	0.70mi
10002 Winding Lake Rd #101 Sunrise, FL	2.0	2.0	760	$1,900	$2.50	25d	1	0.72mi
10050 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	760	$1,750	$2.30	25d	1	0.72mi
10046 Winding Lake Rd #204 Sunrise, FL	2.0	1.0	760	$1,800	$2.37	25d	1	0.72mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	21d	1	0.73mi
10054 Winding Lake Rd #201 Sunrise, FL	2.0	2.0	760	$2,200	$2.89	3d	1	0.73mi
10005 Winding Lake Rd #204 Sunrise, FL	2.0	2.0	772	$1,800	$2.33	25d	1	0.73mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,850	$2.40	8d	1	0.74mi
10003 Winding Lake Rd #103 Sunrise, FL	2.0	2.0	772	$1,900	$2.46	25d	1	0.74mi
10039 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	25d	1	0.74mi
10039 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,000	$2.63	22d	1	0.74mi
9720 NW 24th Pl Unit B Sunrise, FL	1.0	1.0	700	$1,750	$2.50	25d	1	0.74mi
10016 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$2,100	$2.76	25d	1	0.78mi
10025 Winding Lake Rd #202 Sunrise, FL	2.0	2.0	760	$1,700	$2.24	25d	1	0.81mi
9994 Nob Hill Ct #9994 Sunrise, FL	2.0	2.0	840	$1,975	$2.35	25d	1	0.83mi
9982 Nob Hill Ct #9982 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	13d	1	0.84mi
9954 Nob Hill Ct #9954 Sunrise, FL	2.0	2.0	900	$1,900	$2.11	25d	1	0.85mi
9926 Nob Hill Ct #9926 Sunrise, FL	2.0	2.0	915	$2,400	$2.62	25d	1	0.86mi
3621 NW 95th Ter #523 Sunrise, FL	2.0	2.0	970	$2,150	$2.22	25d	1	0.88mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,100	$2.33	12d	1	0.88mi
9878 Nob Hill Ct #9878 Sunrise, FL	2.0	2.0	900	$2,200	$2.44	25d	1	0.88mi
3548 NW 111th Ter Sunrise, FL	3.0	2.0	1024	$2,675	$2.61	20d	1	0.89mi
9838 Nob Hill Ct #9838 Sunrise, FL	2.0	2.0	840	$1,950	$2.32	15d	1	0.90mi
10131 W Sunrise Blvd #206 Plantation, FL	2.0	2.0	963	$2,200	$2.28	25d	1	0.91mi
3531 NW 94th Ave Unit 6B Sunrise, FL	2.0	2.0	925	$1,925	$2.08	15d	1	0.91mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,001	$2.22	17d	1	0.92mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,099	$2.33	21d	1	0.92mi
10931 NW 39th St Sunrise, FL	1.0	1.0	902	$2,054	$2.28	3d	1	0.92mi
10901 NW 40th St Sunrise, FL	1.0–2.0	1.0–2.0	900	$2,400	$2.67	2d	8	0.94mi
9979 Nob Hill Ln Sunrise, FL	2.0	2.0	986	$2,100	$2.13	19d	1	0.94mi
3625 NW 94th Ave Unit 3G Sunrise, FL	2.0	2.0	925	$1,995	$2.16	25d	1	0.95mi
3689 NW 94th Ave #51 Sunrise, FL	2.0	2.0	925	$2,250	$2.43	8d	1	0.95mi
9823 Nob Hill Ct #9823 Sunrise, FL	1.0	1.0	744	$1,850	$2.49	12d	1	0.96mi

HOA detail condo

• Monthly dues: $668 · $8,016/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $169,500 Active 22 DOM
2. 2026-06-17
   days on market $169,500 Active 21 DOM
3. 2026-06-16
   days on market $169,500 Active 20 DOM
4. 2026-06-15
   days on market $169,500 Active 19 DOM
5. 2026-06-13
   days on market $169,500 Active 17 DOM
6. 2026-06-09
   days on market $169,500 Active 13 DOM
7. 2026-06-08
   days on market $169,500 Active 12 DOM
8. 2026-06-07
   days on market $169,500 Active 11 DOM
9. 2026-06-04
   days on market $169,500 Active 8 DOM
10. 2026-06-03
    days on market $169,500 Active 7 DOM
11. 2026-06-02
    days on market $169,500 Active 6 DOM
12. 2026-06-01
    days on market $169,500 Active 5 DOM
13. 2026-05-31
    days on market $169,500 Active 4 DOM
14. 2026-05-22
    listed $169,500 Active
15. 2013-09-26
    historical
16. 2013-08-07
    price $85,000
17. 2013-07-19
    listed $69,000 Active
18. 2012-09-27
    soldstatus $23,500
19. 2012-09-13
    soldstatus $23,500 234-char remark

    Show marketing remark (234 chars)

    PRICED TO SELL!! NEEDS TLC ENJOY UPDATING, THIS GREAT 2 BEDROOM/2 BATH UNIT. LOADS OF AMENITIES. CLUB HOUSE, POOL AREA, BUS SERVICE & MUCH MORE. ASSOC SAYS 55+ COMMUNITY. PROPERTY IS SOLD "AS IS" WITH RIGHT TO INSPECT

20. 2012-06-12
    listed $23,500 234-char remark

    Show marketing remark (234 chars)

    PRICED TO SELL!! NEEDS TLC ENJOY UPDATING, THIS GREAT 2 BEDROOM/2 BATH UNIT. LOADS OF AMENITIES. CLUB HOUSE, POOL AREA, BUS SERVICE & MUCH MORE. ASSOC SAYS 55+ COMMUNITY. PROPERTY IS SOLD "AS IS" WITH RIGHT TO INSPECT

21. 2012-04-12
    historical
22. 2011-09-12
    listed $23,500
23. 2011-09-11
    historical
24. 2010-09-16
    listed $29,900
25. 2001-10-23
    soldstatus $42,000
26. 1983-12-01
    soldstatus $44,000

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $1,407 · $117/mo
• Expected delta: +$692/yr (+$58/mo · 96.8%)

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

Taxation est. · year 1

• Rental income: $26,674
• − Mortgage interest: −$9,495
• − Property taxes: −$715
• − Insurance: −$848
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − HOA: −$8,016
• − Depreciation: −$4,931
• Taxable loss: −$1,597
• Est. tax savings @ 24.0%: +$383
• After-tax cash flow: $1,211/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

+285.2% since first listed

13 events — show timeline

• 2026-05-22 Listed $169,500 MARMLS
• 2013-09-26 Listing Removed — MARMLS
• 2013-08-07 Price Changed $85,000 MARMLS
• 2013-07-19 Listed $69,000 MARMLS
• 2012-09-27 Sold (Public Records) $23,500 Public Records
• 2012-09-13 Sold (MLS) $23,500 Beaches MLS
• 2012-06-12 Listed $23,500 Beaches MLS
• 2012-04-12 Listing Removed — Beaches MLS
• 2011-09-12 Listed $23,500 Beaches MLS
• 2011-09-11 Listing Removed — Beaches MLS
• 2010-09-16 Listed $29,900 Beaches MLS
• 2001-10-23 Sold (Public Records) $42,000 Public Records
• 1983-12-01 Sold (Public Records) $44,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $715 · +6.9% YoY. Source: county tax records.