2841 Somerset Dr #318 · Lauderdale Lakes, FL 33311

$73,000

1 bd · 1.0 ba · 748 sqft · Condo public records · 97 Days on market

Built 1974 $337/mo HOA · 22% 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 +30.0/30.0
• 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 MLS

Beautiful and super clean unit in the gated community of Somerset Phase one. This one will sell all furnished and turnkey and the furnitures are new and beautiful. Tile floor and wood laminate throughout the entire unit (no carpet). This is the larger model with 1 bedroom and 1 bathroom with large patio accessible from the living room and the bedroom. Comes with one parking space and 1 storage. Next to the pool, BBQ, shuffleboard, billard, tennis and all activities. Close to the stores & Restaurants, only 6 miles to the beach. .. Must see!

Key facts

• Gated community
• Controlled access
• Pool area

Tags

• GATED COMMUNITY
• CONTROLLED ACCESS
• POOL AREA
• CENTRAL LOCATION

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers common areas and structure maintenance; Association amenities include hobby room, barbecue, picnic area, pool, shuffleboard court; Senior community

Exterior

• Parking: One parking space
• Security: Complex fenced; Smoke detectors
• Utilities: Has cooling; Has heating
• Home design: Attached property; 4 total stories; Entry on third floor
• Construction: Block construction; Effective year built
• Exterior features: Courtyard; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Bedroom on main level; Third-floor entry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $73k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $66k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: Nova Blanche Forman Elementary (math 35% / reading 55%, grade D-, #1,271 of 2,144 statewide, top 60%, 769 students, 72% FRL); Nova Middle School (math 44% / reading 53%, grade C-, #274 of 571 statewide, top 50%, 1,284 students, 68% FRL); Nova High School (math 22% / reading 56%, grade F, #312 of 667 statewide, top 48%, 2,227 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 16d 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 $505 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.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 22% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,430 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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: 2.14% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.71%
• DSCR: 2.10
• GRM: 3.9

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $5,256
• Equity at exit: $10,885

10-year hold

• IRR: 15.9%
• Equity multiple: 2.29×
• Total profit: $26,462
• Equity at exit: $6,312

Cash invested: $20,440 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$383
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$30
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$337
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $269

Break-even live

Break-even rent $1,223

Max offer price $73,000

Occupancy floor 78%

Sensitivity live

Price	-10% $310	-5% $290	+0% $269	+5% $248	+10% $228
Rent	-10% $145	-5% $207	+0% $269	+5% $331	+10% $392
Rate	-1.0pp $306	-0.5pp $287	base $269	+0.5pp $250	+1.0pp $231

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	12d	3	0.03mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,300	$1.57	4d	2	0.07mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	4d	1	0.12mi
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	26d	1	0.16mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	0d	16	0.36mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	26d	1	0.77mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	26d	1	0.79mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	15d	1	0.89mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	26d	1	0.92mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	0d	2	0.93mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	3d	2	0.93mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,675	$2.07	26d	3	0.99mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,599	$1.97	0d	3	0.99mi
3960 NW 31st Ter Unit 2 Lauderdale Lakes, FL	1.0	1.0	720	$1,500	$2.08	26d	1	1.01mi
2070 NW 43rd Ter #6 Lauderhill, FL	1.0	1.0	600	$1,600	$2.67	23d	1	1.10mi
4047 NW 16th St #109 Lauderhill, FL	1.0	1.0	725	$1,300	$1.79	26d	1	1.16mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	13d	1	1.20mi
2417 NW 20th St Unit 1 Fort Lauderdale, FL	2.0	1.0	649	$1,700	$2.62	9d	1	1.21mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	15d	1	1.25mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	4d	1	1.25mi
1770 NW 25th Ter Fort Lauderdale, FL	2.0	1.0	720	$2,000	$2.78	0d	1	1.27mi
3061 NW 47th Ter #327 Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	26d	1	1.29mi
3061 NW 47th Ter Unit 335B Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	0d	1	1.29mi
3061 NW 47th Ter Unit 327B Lauderdale Lakes, FL	1.0	1.5	662	$1,600	$2.42	9d	1	1.29mi
3061 NW 47th Ter Unit 132C Lauderdale Lakes, FL	1.0	1.0	610	$1,500	$2.46	26d	1	1.29mi
2901 NW 47th Ter Unit 247B Lauderdale Lakes, FL	1.0	1.5	662	$1,400	$2.11	0d	1	1.29mi
2901 NW 47th Ter Unit 348B Lauderdale Lakes, FL	1.0	1.5	662	$1,350	$2.04	26d	1	1.29mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL	1.0	1.5	705	$1,300	$1.84	26d	1	1.34mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	26d	1	1.36mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	9d	1	1.36mi
3301 NW 47th Ter #308 Lauderdale Lakes, FL	1.0	2.0	750	$2,200	$2.93	13d	1	1.37mi
2707 NW 15th St Unit 2 Fort Lauderdale, FL	—	1.0	375	$1,175	$3.13	16d	1	1.37mi
2708 NW 15th St Fort Lauderdale, FL	2.0	1.0	750	$1,700	$2.27	26d	1	1.41mi
1861 NW 46th Ave Lauderhill, FL	2.0	1.0–2.0	730	$1,475	$2.02	0d	14	1.43mi
1599 NW 43rd Ave #106 Lauderhill, FL	1.0	1.0	730	$1,499	$2.05	19d	1	1.44mi
4851 NW 26th Ct #338 Lauderdale Lakes, FL	1.0	1.0	705	$1,650	$2.34	18d	1	1.47mi
3161 NW 47th Ter #110 Lauderdale Lakes, FL	1.0	1.5	721	$1,500	$2.08	7d	1	1.48mi
3161 NW 47th Ter #111 Lauderdale Lakes, FL	1.0	1.5	721	$1,500	$2.08	26d	1	1.48mi
3141 NW 47th Ter Lauderdale Lakes, FL	1.0–2.0	1.5–2.0	861	$1,440	$1.67	26d	2	1.48mi
211 Lake Pointe Dr Oakland Park, FL	1.0–2.0	1.0–2.0	805	$1,650	$2.05	4d	2	1.48mi

HOA detail condo

• Monthly dues: $337 · $4,044/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $73,000 Active 97 DOM
2. 2026-06-18
   days on market $73,000 Active 94 DOM
3. 2026-06-17
   days on market $73,000 Active 93 DOM
4. 2026-06-16
   days on market $73,000 Active 92 DOM
5. 2026-06-15
   days on market $73,000 Active 91 DOM
6. 2026-06-13
   days on market $73,000 Active 89 DOM
7. 2026-06-09
   days on market $73,000 Active 85 DOM
8. 2026-06-08
   days on market $73,000 Active 84 DOM
9. 2026-06-07
   days on market $73,000 Active 83 DOM
10. 2026-06-04
    days on market $73,000 Active 80 DOM
11. 2026-06-03
    days on market $73,000 Active 79 DOM
12. 2026-06-02
    days on market $73,000 Active 78 DOM
13. 2026-06-01
    days on market $73,000 Active 77 DOM
14. 2026-05-31
    days on market $73,000 Active 76 DOM
15. 2026-04-06
    price $73,000
16. 2026-03-16
    listed $75,000 Active
17. 2021-06-21
    soldstatus $67,000
18. 2021-06-18
    soldstatus $67,000 Closed 552-char remark

    Show marketing remark (552 chars)

    Beautiful and super clean unit in the gated community of Somerset Phase one. This one will sell all furnished and turnkey and the furnitures are new and beautiful. Tile floor and wood laminate throughout the entire unit (no carpet). This is the larger model with 1 bedroom and 1 bathroom with large patio accessible from the living room and the bedroom. Comes with one parking space and 1 storage. Next to the pool, BBQ, shuffleboard, billard, tennis and all activities. Close to the stores & Restaurants, only 6 miles to the beach. .. Must see!

19. 2021-05-22
    historical Active Under Contract 552-char remark

    Show marketing remark (552 chars)

    Beautiful and super clean unit in the gated community of Somerset Phase one. This one will sell all furnished and turnkey and the furnitures are new and beautiful. Tile floor and wood laminate throughout the entire unit (no carpet). This is the larger model with 1 bedroom and 1 bathroom with large patio accessible from the living room and the bedroom. Comes with one parking space and 1 storage. Next to the pool, BBQ, shuffleboard, billard, tennis and all activities. Close to the stores & Restaurants, only 6 miles to the beach. .. Must see!

20. 2021-04-16
    price $68,000 552-char remark

    Show marketing remark (552 chars)

    Beautiful and super clean unit in the gated community of Somerset Phase one. This one will sell all furnished and turnkey and the furnitures are new and beautiful. Tile floor and wood laminate throughout the entire unit (no carpet). This is the larger model with 1 bedroom and 1 bathroom with large patio accessible from the living room and the bedroom. Comes with one parking space and 1 storage. Next to the pool, BBQ, shuffleboard, billard, tennis and all activities. Close to the stores & Restaurants, only 6 miles to the beach. .. Must see!

21. 2020-11-16
    listed $70,000 Active 552-char remark

    Show marketing remark (552 chars)

    Beautiful and super clean unit in the gated community of Somerset Phase one. This one will sell all furnished and turnkey and the furnitures are new and beautiful. Tile floor and wood laminate throughout the entire unit (no carpet). This is the larger model with 1 bedroom and 1 bathroom with large patio accessible from the living room and the bedroom. Comes with one parking space and 1 storage. Next to the pool, BBQ, shuffleboard, billard, tennis and all activities. Close to the stores & Restaurants, only 6 miles to the beach. .. Must see!

22. 2005-03-09
    soldstatus $37,000
23. 2003-06-16
    soldstatus $32,000
24. 1996-01-19
    soldstatus $17,000
25. 1974-02-01
    soldstatus $23,000

ⓘ 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: $764 · $64/mo
• Projected year-2 tax: $764 · $64/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 · 28 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: $18,756
• − Mortgage interest: −$4,089
• − Property taxes: −$764
• − Insurance: −$2,190
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − HOA: −$4,044
• − Depreciation: −$2,124
• Taxable income: $2,545
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $2,615/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

+217.4% since first listed

11 events — show timeline

• 2026-04-06 Price Changed $73,000 MARMLS
• 2026-03-16 Listed $75,000 MARMLS
• 2021-06-21 Sold (Public Records) $67,000 Public Records
• 2021-06-18 Sold (MLS) $67,000 MARMLS
• 2021-05-22 Contingent — MARMLS
• 2021-04-16 Price Changed $68,000 MARMLS
• 2020-11-16 Listed $70,000 MARMLS
• 2005-03-09 Sold (Public Records) $37,000 Public Records
• 2003-06-16 Sold (Public Records) $32,000 Public Records
• 1996-01-19 Sold (Public Records) $17,000 Public Records
• 1974-02-01 Sold (Public Records) $23,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $764 · +2.2% YoY. Source: county tax records.