2821 Somerset Dr #317 · Lauderdale Lakes, FL 33311

$79,000

1 bd · 1.0 ba · 748 sqft · Condo public records · 127 Days on market

Built 1975 $421/mo HOA · 27% 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 +26.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• 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

Welcome to the well-maintained, large 1BR/1BA condo in Somerset Bldg. #1, a gated 55+ community in Lauderdale Lakes, FL. This bright, open living & dining area features an east-facing entrance and west-facing screened balcony with entrance from the living and its large primary bedroom. Enjoy an ample kitchen, plenty of closets, and 3rd-floor location with elevator and stair access. Laundry facilities on each floor for convenience. Somerset offers community amenities including a heated pool, fitness center, tennis & pickleball courts, billiards, BBQ area, and shuffleboard. Centrally located minutes from I-95, near shopping, dining, and just a short drive to Fort Lauderdale Beach,

Key facts

• Laundry facilities
• Full kitchen
• Screened balcony

Tags

• EAST FACING ENTRANCE
• WEST FACING SCREENED BALCONY
• FULL KITCHEN
• ABUNDANT STORAGE
• SCREENED BALCONY
• LAUNDRY FACILITIES

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include clubhouse, fitness center, laundry, barbecue/picnic area, pool, shuffleboard court, storage, trails, trash service, elevators and security; Association covers management, amenities, common areas, cable TV, hot water, internet, laundry, structural maintenance, parking, recreation facilities, security, trash and water; Senior community

Exterior

• Parking: Guest parking; One assigned space
• Security: Complex fenced; Security guard
• Utilities: Cable available
• Home design: Faces east; Entry on third floor; Four-story building
• Construction: Block construction; Building identified as Building No. 1; Year built unknown
• Exterior features: Courtyard; Barbecue area; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Accessible elevator installed; Elevator serving building; Living/dining room; Main living area on entry level; Tub/shower
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $50 ($596/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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; 33 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 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 $546 of loan paydown is wiped out by about $2k 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 127 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 5977% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $10k; list at $79k implies a 652% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $152/mo; HOA is 27% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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 1975 — 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: 1.98% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 4.2

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-9,568
• Equity at exit: $11,779

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-3,977
• Equity at exit: $6,830

Cash invested: $22,120 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,564 high
• Mortgage (P&I): −$414
• Tax from tax record: −$165 /mo · $1,985/yr
• Insurance: −$33
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$421
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $50

Break-even live

Break-even rent $1,501

Max offer price $79,000

Occupancy floor 92%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	2d	1	0.01mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	10d	3	0.10mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,300	$1.57	2d	2	0.12mi
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	24d	1	0.18mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	1d	14	0.45mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	24d	1	0.89mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	24d	1	0.92mi
3960 NW 31st Ter Unit 2 Lauderdale Lakes, FL	1.0	1.0	720	$1,500	$2.08	24d	1	0.99mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	13d	1	1.01mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	24d	1	1.04mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	1d	2	1.05mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,675	$2.07	24d	3	1.09mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,599	$1.97	7d	2	1.09mi
2417 NW 20th St Unit 1 Fort Lauderdale, FL	2.0	1.0	649	$1,700	$2.62	7d	1	1.10mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	13d	1	1.15mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	2d	1	1.15mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	11d	1	1.18mi
2070 NW 43rd Ter #6 Lauderhill, FL	1.0	1.0	600	$1,600	$2.67	21d	1	1.21mi
4047 NW 16th St #109 Lauderhill, FL	1.0	1.0	725	$1,300	$1.79	24d	1	1.24mi
2707 NW 15th St Unit 2 Fort Lauderdale, FL	—	1.0	375	$1,175	$3.13	14d	1	1.30mi
2708 NW 15th St Fort Lauderdale, FL	2.0	1.0	750	$1,700	$2.27	24d	1	1.34mi
3061 NW 47th Ter Unit 327B Lauderdale Lakes, FL	1.0	1.5	662	$1,600	$2.42	7d	1	1.42mi
3061 NW 47th Ter Unit 132C Lauderdale Lakes, FL	1.0	1.0	610	$1,500	$2.46	24d	1	1.42mi
3061 NW 47th Ter #327 Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	24d	1	1.42mi
2901 NW 47th Ter Unit 247B Lauderdale Lakes, FL	1.0	1.5	662	$1,450	$2.19	24d	1	1.42mi
2901 NW 47th Ter Unit 348B Lauderdale Lakes, FL	1.0	1.5	662	$1,350	$2.04	24d	1	1.42mi
2620 NW 18th Ter #3 Oakland Park, FL	2.0	1.0	744	$2,000	$2.69	24d	1	1.43mi
211 Lake Pointe Dr Oakland Park, FL	1.0–2.0	1.0–2.0	805	$1,650	$2.05	2d	2	1.44mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	7d	1	1.45mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	24d	1	1.45mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL	1.0	1.5	705	$1,300	$1.84	24d	1	1.46mi
3301 NW 47th Ter #308 Lauderdale Lakes, FL	1.0	2.0	750	$2,200	$2.93	11d	1	1.48mi
2554 NW 14th St Fort Lauderdale, FL	1.0	1.0	400	$1,500	$3.75	24d	1	1.50mi

HOA detail condo

• Monthly dues: $421 · $5,052/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $79,000 Active 127 DOM
2. 2026-06-17
   days on market $79,000 Active 126 DOM
3. 2026-06-16
   days on market $79,000 Active 125 DOM
4. 2026-06-15
   days on market $79,000 Active 124 DOM
5. 2026-06-13
   days on market $79,000 Active 122 DOM
6. 2026-06-09
   days on market $79,000 Active 118 DOM
7. 2026-06-07
   days on market $79,000 Active 116 DOM
8. 2026-06-04
   days on market $79,000 Active 113 DOM
9. 2026-06-03
   days on market $79,000 Active 112 DOM
10. 2026-06-02
    days on market $79,000 Active 111 DOM
11. 2026-06-01
    days on market $79,000 Active 110 DOM
12. 2026-05-31
    days on market $79,000 Active 109 DOM
13. 2026-05-11
    price $79,000
14. 2026-05-08
    price $2,300
15. 2026-05-03
    price $2,500
16. 2026-03-13
    listed $1,300
17. 2026-02-08
    listed $85,000 Active
18. 1991-11-15
    soldstatus $10,500
19. 1991-11-15
    soldstatus $10,500
20. 1979-11-01
    soldstatus $37,000

ⓘ 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: $1,985 · $165/mo
• Projected year-2 tax: $1,985 · $165/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 · 26 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: $18,765
• − Mortgage interest: −$4,425
• − Property taxes: −$1,985
• − Insurance: −$2,220
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − HOA: −$5,052
• − Depreciation: −$2,298
• Taxable loss: −$218
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $648/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

+113.5% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $79,000 MARMLS
• 2026-05-08 Price Changed $2,300 MARMLS
• 2026-05-03 Price Changed $2,500 MARMLS
• 2026-03-13 Listed for Rent $1,300 MARMLS
• 2026-02-08 Listed $85,000 MARMLS
• 1991-11-15 Sold (Public Records) $10,500 Public Records
• 1991-11-15 Sold (Public Records) $10,500 Public Records
• 1979-11-01 Sold (Public Records) $37,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,985 · +5.7% YoY. Source: county tax records.