2801 Somerset Dr #101 · Lauderdale Lakes, FL 33311

$90,000

2 bd · 2.0 ba · 865 sqft · Condo public records · 81 Days on market

Built 1974 $430/mo HOA · 23% 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 +29.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Discover comfortable and convenient living in this spacious 2-bedroom, 2-bath gated condo located on the first floor of the desirable Somerset Phase 1 community. Enjoy tranquil views of the lush garden and BBQ area from your enclosed patio. The open floor plan features a bright and welcoming atmosphere, generously sized bedrooms, ample storage, and easy first-floor access—no stairs required. Ideally situated just a 20-minute drive to beautiful beaches and close to transportation, shopping, dining, and entertainment. Subject to seller addendum. All offers are subject to OFAC clearance. Auction Starts-03/31/2026 and ends on 04/01/2026

Key facts

• Open floor plan
• Lush garden
• Bbq area

Tags

• GATED CONDO
• ENCLOSED PATIO
• LUSH GARDEN
• BBQ AREA
• OPEN FLOOR PLAN
• FIRST FLOOR ACCESS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: HOA with clubhouse and pool; HOA fee $430 monthly; HOA fee covers water, sewer, trash, common areas, and pool service; Senior community

Exterior

• Parking: Assigned parking (1 space); No carport
• Security: Security guard; Security fence
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; 4-story building; North-facing
• Construction: Built with concrete block (CBS); Shingle roof
• Exterior features: Fenced yard; Not waterfront

Interior

• Kitchen: Electric range; Gas range
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Security guard and security fence; Resale condition

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: crime D+, amenities F, employment 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: Rock Island Elementary School (math 32% / reading 22%, grade F, #1,969 of 2,144 statewide, top 94%, 454 students, 91% FRL); William Dandy Middle School (math 26% / reading 37%, grade F, #453 of 571 statewide, top 81%, 784 students, 84% FRL); Boyd H. Anderson High School (math 10% / reading 14%, grade F, #622 of 667 statewide, top 93%, 2,038 students, 72% FRL) — zoned schools average 82% FRL vs 51% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 48% district-wide (-24 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.8%/yr); 590 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 81 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $90k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; flood insurance adds $152/mo; HOA is 23% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 2.09% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.85%
• DSCR: 1.71
• GRM: 4.0

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-3,039
• Equity at exit: $13,419

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $12,300
• Equity at exit: $7,782

Cash invested: $25,200 (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: 590
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$472
• Tax from tax record: −$213 /mo · $2,550/yr
• Insurance: −$38
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$430
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $181

Break-even live

Break-even rent $1,651

Max offer price $90,000

Occupancy floor 85%

Sensitivity live

Price	-10% $232	-5% $206	+0% $181	+5% $155	+10% $130
Rent	-10% $32	-5% $107	+0% $181	+5% $255	+10% $329
Rate	-1.0pp $226	-0.5pp $204	base $181	+0.5pp $157	+1.0pp $134

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2801 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	865	$1,775	$2.05	25d	2	0.02mi
2811 Somerset Dr #412 Lauderdale Lakes, FL	2.0	2.0	865	$1,700	$1.97	9d	1	0.03mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,700	$2.06	4d	2	0.04mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	4d	1	0.08mi
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	25d	1	0.09mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	12d	3	0.09mi
2800 Somerset Dr Unit 418J Lauderdale Lakes, FL	2.0	2.0	1010	$1,800	$1.78	16d	1	0.14mi
2725 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	990	$2,250	$2.27	25d	1	0.18mi
2830 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	1010	$1,925	$1.91	12d	2	0.20mi
3390 NW 30th St Unit 3 Lauderdale Lakes, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.27mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$2,076	$2.40	0d	16	0.45mi
3621 NW 30th Ct Oakland Park, FL	2.0	2.5	1104	$2,695	$2.44	15d	1	0.49mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,700	$2.24	25d	1	0.58mi
3115 Oakland Shores Dr Oakland Park, FL	1.0	1.0	760	$1,625	$2.14	0d	2	0.58mi
3710 NW 21st St #305 Lauderdale Lakes, FL	2.0	2.0	1100	$1,650	$1.50	25d	1	0.63mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	12d	1	0.63mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	22d	1	0.63mi
3119 Oakland Shores Dr Unit C110 Oakland Park, FL	2.0	2.0	1050	$1,800	$1.71	9d	1	0.63mi
3119 Oakland Shores Dr Unit C212 Oakland Park, FL	1.0	1.0	760	$1,380	$1.82	25d	1	0.63mi
3082 S Oakland Forest Dr #1301 Oakland Park, FL	2.0	2.5	1098	$1,975	$1.80	22d	1	0.66mi
3610 NW 21st St Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	950	$1,750	$1.84	25d	2	0.66mi
3610 NW 21st St #413 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	22d	1	0.66mi
3610 NW 21st St #308 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	23d	1	0.66mi
3700 NW 21st St #203 Lauderdale Lakes, FL	1.0	1.0	800	$1,500	$1.88	22d	1	0.67mi
3048 NW 20th St Unit n/a Fort Lauderdale, FL	3.0	2.0	1107	$2,800	$2.53	25d	1	0.68mi
2700 NW 39th Way Lauderdale Lakes, FL	2.0–3.0	1.0–1.5	858	$1,750	$2.04	0d	6	0.69mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,600	$2.84	16d	1	0.70mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,400	$2.62	9d	1	0.70mi
2721 NW 25th St Fort Lauderdale, FL	3.0	2.0	1015	$3,000	$2.96	3d	1	0.73mi
3540 NW 34th Ter Lauderdale Lakes, FL	2.0	1.0	1056	$1,200	$1.14	19d	1	0.77mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	25d	1	0.83mi
2720 S Oakland Forest Dr Oakland Park, FL	2.0	2.0	1100	$2,050	$1.86	25d	1	0.85mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	25d	1	0.85mi
3021 NW 17th St Fort Lauderdale, FL	2.0	1.0	910	$1,375	$1.51	0d	1	0.86mi
2740 NW 21st St Unit 1261589P Fort Lauderdale, FL	3.0	2.0	1097	$3,396	$3.10	25d	1	0.87mi
2611 NW 21st St Fort Lauderdale, FL	3.0	1.0	880	$2,700	$3.07	4d	1	0.92mi
2611 NW 21st St Fort Lauderdale, FL	3.0	1.0	880	$2,590	$2.94	3d	1	0.92mi
2890 N Oakland Forest Dr #111 Oakland Park, FL	2.0	2.0	1038	$2,000	$1.93	9d	1	0.92mi
2890 N Oakland Forest Dr #204 Oakland Park, FL	2.0	2.0	992	$2,000	$2.02	20d	1	0.92mi
2111 NW 26th Ave Unit 2111 Fort Lauderdale, FL	3.0	1.0	880	$2,200	$2.50	25d	1	0.93mi

HOA detail condo

• Monthly dues: $430 · $5,160/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $90,000 Active 81 DOM
2. 2026-06-18
   days on market $90,000 Active 78 DOM
3. 2026-06-17
   days on market $90,000 Active 77 DOM
4. 2026-06-16
   days on market $90,000 Active 76 DOM
5. 2026-06-15
   days on market $90,000 Active 75 DOM
6. 2026-06-13
   days on market $90,000 Active 73 DOM
7. 2026-06-09
   days on market $90,000 Active 69 DOM
8. 2026-06-08
   days on market $90,000 Active 68 DOM
9. 2026-06-07
   days on market $90,000 Active 67 DOM
10. 2026-06-04
    days on market $90,000 Active 64 DOM
11. 2026-06-03
    days on market $90,000 Active 63 DOM
12. 2026-06-02
    days on market $90,000 Active 62 DOM
13. 2026-06-01
    days on market $90,000 Active 61 DOM
14. 2026-05-31
    days on market $90,000 Active 60 DOM
15. 2026-04-13
    price $90,000
16. 2026-04-01
    listed $95,000 Active
17. 2026-03-31
    historical
18. 2026-01-05
    listed $95,000 Active
19. 1974-09-01
    soldstatus $25,300

ⓘ 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: $2,550 · $213/mo
• Projected year-2 tax: $2,550 · $213/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 · 29 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: $22,554
• − Mortgage interest: −$5,041
• − Property taxes: −$2,550
• − Insurance: −$2,274
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − HOA: −$5,160
• − Depreciation: −$2,618
• Taxable income: $1,301
• Est. tax owed @ 24.0%: −$312
• After-tax cash flow: $1,857/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

+255.7% since first listed

5 events — show timeline

• 2026-04-13 Price Changed $90,000 Beaches MLS
• 2026-04-01 Listed $95,000 Beaches MLS
• 2026-03-31 Listing Removed — Beaches MLS
• 2026-01-05 Listed $95,000 Beaches MLS
• 1974-09-01 Sold (Public Records) $25,300 Public Records

Property tax history

+15.8%/yr

Latest (2025): $2,550 · +5.5% YoY. Source: county tax records.