2871 Somerset Dr #218 · Lauderdale Lakes, FL 33311

$84,000

1 bd · 1.0 ba · 748 sqft · Condo public records · 822 Days on market

Built 1974 $390/mo HOA · 25% of rent

---

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 +28.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

Key facts

• $390 HOA
• Garage
• Community pool

Property features AI

Finance

• HOA & community: Monthly association fee; Association fee includes amenities, common areas, cable TV, and structure maintenance; Association amenities: clubhouse, elevator(s), laundry, barbecue, picnic area, pool, tennis court(s); Senior community

Exterior

• Parking: Attached garage with 1 covered space; One parking space
• Security: Closed-circuit camera(s); Complex fenced
• Utilities: Cable available
• Home design: Attached property; 4-story building; Entry on level 2
• Construction: Block construction; Resale property
• Exterior features: Barbecue area; Fenced complex; Storm/security shutters; Tennis court(s); Association pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level; Second floor entry
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Ceiling fan(s)
• Interior features: Accessible elevator installed; Elevator; Living/dining room; Walk-in closet(s); Other
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $84k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 5.6% in Lauderdale Lakes — 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 81/100 on livability (#100 in FL, #1,527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D+, 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 rising (+2.8%/yr); 585 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 35% of the median local income ($54k/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 $581 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 822 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask is 6362% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $72k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 25% of rent.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 822 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.85% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-6,671
• Equity at exit: $12,525

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $3,151
• Equity at exit: $7,263

Cash invested: $23,520 (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 33311

• Rents YoY: 2.8%
• Active inventory: 585
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,555 high
• Mortgage (P&I): −$441
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$35
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$390
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $109

Break-even live

Break-even rent $1,417

Max offer price $84,000

Occupancy floor 88%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	24d	1	0.03mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,300	$1.57	2d	2	0.08mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	2d	1	0.14mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	10d	3	0.15mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	1d	14	0.50mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	24d	1	0.83mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	24d	1	0.85mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,599	$1.97	7d	2	0.97mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,675	$2.07	24d	3	0.97mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	13d	1	0.99mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	24d	1	1.02mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	1d	2	1.02mi
2417 NW 20th St Unit 1 Fort Lauderdale, FL	2.0	1.0	649	$1,700	$2.62	7d	1	1.09mi
2070 NW 43rd Ter #6 Lauderhill, FL	1.0	1.0	600	$1,600	$2.67	21d	1	1.10mi
4047 NW 16th St #109 Lauderhill, FL	1.0	1.0	725	$1,300	$1.79	24d	1	1.10mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	13d	1	1.12mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	2d	1	1.12mi
3960 NW 31st Ter Unit 2 Lauderdale Lakes, FL	1.0	1.0	720	$1,500	$2.08	24d	1	1.14mi
2707 NW 15th St Unit 2 Fort Lauderdale, FL	—	1.0	375	$1,175	$3.13	14d	1	1.22mi
2708 NW 15th St Fort Lauderdale, FL	2.0	1.0	750	$1,700	$2.27	24d	1	1.26mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	7d	1	1.31mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	24d	1	1.31mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	11d	1	1.32mi
3061 NW 47th Ter #327 Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	24d	1	1.38mi
3061 NW 47th Ter Unit 132C Lauderdale Lakes, FL	1.0	1.0	610	$1,500	$2.46	24d	1	1.38mi
3061 NW 47th Ter Unit 327B Lauderdale Lakes, FL	1.0	1.5	662	$1,600	$2.42	7d	1	1.38mi
2901 NW 47th Ter Unit 247B Lauderdale Lakes, FL	1.0	1.5	662	$1,450	$2.19	24d	1	1.38mi
2901 NW 47th Ter Unit 348B Lauderdale Lakes, FL	1.0	1.5	662	$1,350	$2.04	24d	1	1.38mi
1599 NW 43rd Ave #106 Lauderhill, FL	1.0	1.0	730	$1,499	$2.05	17d	1	1.38mi
1861 NW 46th Ave Lauderhill, FL	2.0	1.0–2.0	730	$1,490	$2.04	1d	13	1.41mi
1196 NW 40th Ave Lauderhill, FL	1.0–2.0	1.0	825	$1,540	$1.87	1d	10	1.41mi
2554 NW 14th St Fort Lauderdale, FL	1.0	1.0	400	$1,500	$3.75	24d	1	1.42mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL	1.0	1.5	705	$1,300	$1.84	24d	1	1.42mi
2571 NW 13th Ct Unit C Fort Lauderdale, FL	2.0	1.0	700	$1,600	$2.29	20d	1	1.43mi
2571 NW 13th Ct Unit 3 Fort Lauderdale, FL	2.0	1.0	700	$1,600	$2.29	24d	1	1.43mi
3301 NW 47th Ter #308 Lauderdale Lakes, FL	1.0	2.0	750	$2,200	$2.93	11d	1	1.47mi
2620 NW 18th Ter #3 Oakland Park, FL	2.0	1.0	744	$2,000	$2.69	24d	1	1.49mi
2451 NW 13th Ct Unit 5 Fort Lauderdale, FL	1.0	1.0	500	$1,450	$2.90	14d	1	1.50mi
2451 NW 13th Ct Fort Lauderdale, FL	2.0	1.0	600	$1,650	$2.75	24d	1	1.50mi
2451 NW 13th Ct Fort Lauderdale, FL	1.0	1.0	500	$1,450	$2.90	3d	1	1.50mi

HOA detail condo

• Monthly dues: $390 · $4,680/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $84,000 Active 822 DOM
2. 2026-06-17
   days on market $84,000 Active 821 DOM
3. 2026-06-16
   days on market $84,000 Active 820 DOM
4. 2026-06-15
   days on market $84,000 Active 819 DOM
5. 2026-06-13
   days on market $84,000 Active 817 DOM
6. 2026-06-09
   days on market $84,000 Active 813 DOM
7. 2026-06-07
   days on market $84,000 Active 811 DOM
8. 2026-06-04
   days on market $84,000 Active 808 DOM
9. 2026-06-03
   days on market $84,000 Active 807 DOM
10. 2026-06-02
    days on market $84,000 Active 806 DOM
11. 2026-06-01
    days on market $84,000 Active 805 DOM
12. 2026-05-31
    days on market $84,000 Active 804 DOM
13. 2026-05-03
    price $84,000
14. 2025-11-13
    historical $1,300
15. 2025-09-06
    price $89,000
16. 2025-06-03
    price $90,000
17. 2025-03-22
    price $92,000
18. 2025-03-10
    price $94,000
19. 2024-12-06
    listed $1,300
20. 2024-05-21
    price $95,000
21. 2024-04-09
    price $99,000
22. 2024-03-18
    listed $105,000 Active
23. 2022-05-06
    soldstatus $71,500
24. 2022-04-12
    soldstatus $71,500 Closed 298-char remark

    Show marketing remark (298 chars)

    Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

25. 2022-03-09
    historical Active Under Contract 298-char remark

    Show marketing remark (298 chars)

    Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

26. 2022-03-08
    status Active 298-char remark

    Show marketing remark (298 chars)

    Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

27. 2022-03-08
    historical Active Under Contract 298-char remark

    Show marketing remark (298 chars)

    Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

28. 2022-02-21
    listed $74,900 Active 298-char remark

    Show marketing remark (298 chars)

    Spacious 55+ condo, well kept and all furnished, ready to move in. Nice relaxing view of a lake. Gated with guard on-site. Community has many amenities, heated pool, sauna, tennis court, billiards, pickle ball court, exercise room, bbq area, club house and more. Low maintenance fees. Easy to show.

29. 2002-07-15
    soldstatus $25,000
30. 1992-04-03
    soldstatus $21,000

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,225 · $102/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 AH · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,660
• − Mortgage interest: −$4,705
• − Property taxes: −$1,225
• − Insurance: −$2,244
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − HOA: −$4,680
• − Depreciation: −$2,444
• Taxable income: $376
• Est. tax owed @ 24.0%: −$90
• After-tax cash flow: $1,215/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 — Lauderdale Lakes

• Score: 81/100
• State rank: #100
• US rank: #1527

Category grades

Amenities F Commute A+ Cost of living A+ Crime D+ Employment F Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lauderdale Lakes, FL
• County: Broward County · 1,963,430 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 74,898
• Household income: $53,973
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 5068.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Two or more races 9% White 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 15% Lithuanian 1% Romanian 0%
• Foreign-born: 24% · Canada, Jamaica
• Languages at home: 78% English-only · French/Haitian/Cajun 14% Spanish 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: ▼ -300.68%
• Current HPI: 535.2504
• Rent YoY: ▲ 2.78%
• 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

+300.0% since first listed

18 events — show timeline

• 2026-05-03 Price Changed $84,000 MARMLS
• 2025-11-13 Rental Removed $1,300 MARMLS
• 2025-09-06 Price Changed $89,000 MARMLS
• 2025-06-03 Price Changed $90,000 MARMLS
• 2025-03-22 Price Changed $92,000 MARMLS
• 2025-03-10 Price Changed $94,000 MARMLS
• 2024-12-06 Listed for Rent $1,300 MARMLS
• 2024-05-21 Price Changed $95,000 MARMLS
• 2024-04-09 Price Changed $99,000 MARMLS
• 2024-03-18 Listed $105,000 MARMLS
• 2022-05-06 Sold (Public Records) $71,500 Public Records
• 2022-04-12 Sold (MLS) $71,500 MARMLS
• 2022-03-09 Contingent — MARMLS
• 2022-03-08 Relisted — MARMLS
• 2022-03-08 Contingent — MARMLS
• 2022-02-21 Listed $74,900 MARMLS
• 2002-07-15 Sold (Public Records) $25,000 Public Records
• 1992-04-03 Sold (Public Records) $21,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,225 · +3.4% YoY. Source: county tax records.