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
Broward prices, the resale rate, and ZIP 33311 rents
The FHFA all-transactions index for the Fort Lauderdale-Pompano Beach-Sunrise division moved from 544.65 in the second quarter of 2025 to 548.87 in the second quarter of 2026. That is about 0.8% (FRED series ATNHPIUS22744Q). A flat division index will not save a block with vacant lots. After-repair value still has to come from sold houses on the same kind of street.
Many end buyers use a conventional loan. Freddie Mac’s 30-year fixed averaged 7.28% on October 1, 2026. A year earlier it averaged 6.34% (Primary Mortgage Market Survey). Illustration: a buyer who finances $321,100 (5% down on a $338,000 sale) pays about $2,197 a month in principal and interest at 7.28%. At 6.34% the same loan is about $1,996. The gap is about $201 a month. Price the list so that payment still fits a first-time Broward buyer.
HUD’s FY 2026 Small Area Fair Market Rent for ZIP 33311 is $1,830 for two bedrooms and $2,520 for three bedrooms (Broward County FMR table). That number is a voucher benchmark for the Fort Lauderdale HUD area. It is not a cap on a private lease. A $2,725 rent on a renovated 3/2 sits above the three-bedroom benchmark. Do not assume a voucher tenant covers the full ask. A market lease in the $2,550–$2,875 band is a separate exit. Write the lease type into the pro forma before you lock the hold.
What the tax bill does after an LLC purchase
Florida treats a non-homestead house with nine or fewer units differently from the seller’s homestead. Under section 193.1554, Florida Statutes (2025), the property is assessed at just value as of January 1 of the year after a change of ownership. Later years, the non-school assessed value cannot rise more than 10% from the prior year. School levies sit outside that cap. A sale to an investor entity is a change of ownership.
Illustration: the year after closing, just value is $280,000. The next January, the non-school assessed value can rise by at most $28,000. That is the cap, not a tax bill. Millage still comes from the Broward folio. The seller’s homestead savings do not transfer. Model the investor bill before you quote a coverage ratio.
A Florida DSCR loan is the usual refinance after lease-up. That loan closes in about 14 business days once the lease and the insurance page are in the file. The hard-money clock of 7–10 business days is for the purchase, not the refinance.
Lead-safe work on a 1962 block house
The federal Renovation, Repair and Painting rule covers paid work that disturbs paint in housing built before 1978. EPA says the rule applies when you buy, renovate, and sell homes for profit. Florida is not on the list of states authorized to run the program, so EPA administers it (EPA RRP program). A 1962 Sistrunk house is inside that window. Use a certified firm before you open walls, sand trim, or replace windows. The same rule applies if a tenant stays during the work. An owner working only on a house they live in is generally outside the rule. An investor is not in that group.
Draw order on concrete block
Put the plumbing camera and the roof section in the first draw, not the kitchen. A failed cast-iron line found after the cabinets are set becomes a change order. On a $56,000 scope, a $12,000 plumbing surprise is more than a fifth of the budget. Hold about 10% of the contractor price back until the camera and the roof deck are signed off. Then release kitchen and bath. Paint and landscape are the last draw, after wind-mitigation photos exist in case the flip becomes a lease.
If the net spread on a sale under $360,000 falls below $20,000, stop adding finishes. Lease the house and refinance. Another month of interest does not get cheaper because the division index was flat.
File items that protect a 10-day close
- Entity papers and a photo ID for each member.
- Camera video of supply and waste lines, with a dollar amount in draw one if either line fails.
- A wind and flood quote for the parcel. Start the map at the FEMA Flood Map Service Center.
- Three sold comps within a half mile on the same street character. Leave Victoria Park sales in their own file.
- A bid that splits roof, plumbing, and finishes.
- Cash for the down payment and two months of interest.
Fix and flip loans in Florida fit a resale. A Florida bridge loan fits a hold that needs more than a short flip term. Both price at 8.99%–13.5% interest-only. Qualified fix-and-flip files can reach 100% of cost, and the loan is still capped at 75% of after-repair value. Many Sistrunk files land nearer 85%–90% because the value cap binds first.
Call (833) 264-7776 before you wire an estate deposit on NW 6th Street. Ask for a term sheet that reserves interest through a 75-day listing, not a 30-day hope.
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).