Sistrunk is Fort Lauderdale’s northwest value-add corridor — Sistrunk Boulevard, NW 6th Street, and progressive revitalization blocks where 1950s–1970s CBS trades $245K–$315K as-is and supports $2,550–$2,950/mo rents after $48K–$68K rehab.
Hard money loans in Sistrunk fund dated mechanical acquisitions, block-level value-add, and 10-day close estate sales where conventional buyers cannot move fast enough.
Sistrunk economics (2026)
| Asset | As-is | Rehab | Rent / ARV |
|---|---|---|---|
| CBS BRRRR | $248K–$305K | $48K–$65K | $2,550–$2,875/mo |
| Frame value-add | $235K–$288K | $52K–$72K | $2,475–$2,750/mo |
| Cosmetic flip | $252K–$312K | $38K–$55K | ARV $335K–$385K |
Metro: Fort Lauderdale hard money · FL DSCR · Premium compare: Victoria Park.
Worked example: NW 6th CBS BRRRR
Purchase: $262,000 — 1962 3/2, HVAC failing, kitchen dated. Rehab: $56,000 — HVAC, roof section, kitchen/bath, electrical update. Hard money: 88% LTC @ 11.1% IO. Lease: $2,725/mo — 12-month LTR. Insurance quote: $4,680/yr inland Broward band. Appraisal: $348,000 DSCR refi 68% LTV @ 7.65% — DSCR ~1.14.
Sistrunk lesson: block selection — one strong renovated comp does not lift entire corridor ARV.
Worked example: Sistrunk flip
Buy: $248,000 — cosmetic + partial systems. Rehab: $46,000. Sale: $338,000 — 61-day DOM. Net spread: ~$22,400 after carry — stronger yield-on-cost than Victoria Park at lower absolute dollars.
Local risks
Commercial adjacency on Sistrunk Boulevard — verify tenant profile and nighttime activity. Cast iron and galvanized plumbing — camera before close. Block vacancy clusters — GIS and drive diligence.
Insurance: Inland Broward band still hurricane country — wind mitigation on roof work improves DSCR headroom $80–$140/mo.
Revitalization spillover thesis
Sistrunk and Progresso Village adjacency creates gentrification optionality — underwrite current rent, not 5-year Zillow forecast. DSCR must clear on today’s lease file.
When Sistrunk beats Victoria Park
- Sponsor prioritizes yield-on-cost and DSCR headroom
- First Broward deal at sub-$320K basis
- Portfolio stacking — multiple doors vs one premium flip
When relocation buyer and $450K+ ARV drive the thesis — Victoria Park.
Washington Park and Belview overlap
Washington Park blocks south of Sistrunk share similar 1950s CBS basis with $238K–$298K as-is bands — medical and port employment tenants at $2,450–$2,725/mo. Comp discipline: do not use Victoria Park ARV on Washington Park appraisals.
Galvanized and cast iron plumbing protocol
Pre-1970 Sistrunk stock carries galvanized supply and cast iron waste — camera both lines before hard money wire. Replacement $9K–$18K belongs in draw schedule milestone one, not change-order after tenant lease-up.
Block vacancy and commercial adjacency matrix
| Block signal | ARV impact | Action |
|---|---|---|
| 3+ vacant parcels / 4 | -8% to -15% | Pass or renegotiate basis |
| Active commercial on Sistrunk Blvd | Tenant quality risk | Night drive required |
| Renovated comp within 300 ft | +5% to +10% ARV support | Proceed with tight scope |
2026 carry sensitivity at 11% IO
Every additional month of hold on $310K all-in costs ~$2,850 interest at 90% LTC — DOM past 75 days on sub-$360K ARV flips often erases spread. Model Plan B lease at $2,650/mo before increasing rehab scope.
DSCR refi documentation (Sistrunk)
Underwriters want executed 12-month lease, deposit proof, insurance dec page with wind mitigation credits listed, and photos matching rent tier. Sistrunk finish at $2,725/mo requires granite-look counters and LVP — not laminate at premium rent claim.
Parallel acquisition with Fort Lauderdale hub
Sponsors running two Sistrunk doors plus one Flagler Village professional hold diversify Broward insurance tiers — inland Sistrunk DSCR at 68% LTV funds next Victoria Park flip down payment after equity extract.
Sistrunk acquisition channel matrix
| Channel | Basis discount | Risk premium |
|---|---|---|
| Estate sale 10-day | 8%–12% | Unseen mechanical |
| MLS dated 60+ DOM | 3%–6% | Seller fatigue |
| Off-market wholesaler | 5%–10% | Comp verification required |
Full BRRRR NOI — Sistrunk CBS
Rent $2,725 · vacancy 7% · effective $2,534 · taxes $398 · insurance $390 · maintenance $140 · management 8% ($203) · NOI ~$1,403 · debt 72% LTV ($250K, 7.65%) ~$1,752/mo → DSCR ~0.80 at 72% — sponsor achieved 1.14 at 68% LTV ($236K). Lower leverage is feature, not failure, on Broward value-add.
Due diligence timeline (Sistrunk)
| Day | Task |
|---|---|
| 0–2 | Block drive (day + night) + GIS vacancy |
| 2–4 | Plumbing camera (galvanized + cast iron) |
| 4–6 | Three Broward comps same street character |
| 6–8 | Wind mitigation quote + GC bid |
| 8–10 | Close |
Red flags: 3+ vacant adjacent · commercial nightclub adjacency · insurance over $5,800/yr without mitigation · wholesaler comp mismatch. Revitalization thesis underwrites current rent only — pair one Victoria Park flip with two Sistrunk holds for Broward balance.
Sistrunk vs Miami-Dade basis arbitrage
Same sponsor capital deploys to Sistrunk $268K all-in with $4,680/yr insurance vs Miami $318K all-in with $6,800/yr insurance — $110/mo NOI headroom per door compounds across three-property Broward portfolios before FL DSCR refi. Insurance guide: Florida DSCR impact · Victoria Park premium flip compare.
FAQ
Pompano Beach basis?
Broward on pre-qual — east-west insurance variance within city.
First-time Broward sponsor LTC?
Often 85%–87% until one documented exit; improves with track record.
Block vacancy rule?
Pass when 3+ vacant adjacent parcels on Forsyth-style diligence applied to Broward.
Pre-Qualify for Sistrunk Hard Money · Fort Lauderdale metro · (833) 264-7776
Sistrunk — block vacancy and cast iron protocol (2026)
Sistrunk files fail when 3+ vacant parcels per block haircut ARV 8%–15%, or when cast iron / galvanized plumbing ($9K–$18K) is missing from milestone one on pre-1970 CBS. Inland Broward insurance $4,200–$5,600/yr on $280K dwelling — still model in carry.
Yield-on-cost beats Victoria Park at $248K–$305K basis · Fort Lauderdale hub · (833) 264-7776.
Underwriting anchor: Purchase: $262,000 — 1962 3/2, HVAC failing, kitchen dated. — Cast iron and galvanized plumbing — camera before close on Sistrunk Fort Lauderdale before IO term (parcel-specific comps only).