2811 Somerset Dr #404 · Lauderdale Lakes, FL 33311

$107,900

2 bd · 2.0 ba · 1,010 sqft · Condo public records · 155 Days on market

Built 1975 $416/mo HOA · 21% 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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• 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 this stunning corner unit in a desirable gated 55+ community, featuring a Make this 2/2 unit your own. It offers stainless-steel appliances. Newer A/c and Hot water tank, tile floors throughout. Updated master bath, and much more. Enjoy low maintenance fees that allow you to focus on relaxation and leisure. This lovely home is ideally situated right next to the pool, offering easy access to refreshing swims and sunbathing. The community boasts a range of wonderful amenities, perfect for an active lifestyle. Plus, you'll appreciate the convenience of being close to shopping, the Turnpike, and I-95, making everything you need just moments away. This unit is being sold furnished, ju

Key facts

• Gated community
• Low maintenance fees
• Updated master bath

Tags

• CORNER UNIT
• GATED COMMUNITY
• STAINLESS-STEEL APPLIANCES
• UPDATED MASTER BATH
• LOW MAINTENANCE FEES
• ACCESS TO POOL

Property features AI

Finance

• Other: Not a waterfront property; Senior community
• HOA & community: Monthly HOA ($416) covering grounds maintenance, security, sewer, trash, water, common areas and elevator; Amenities include pool, fitness center, clubhouse, billiard room, sauna, tennis courts, pickleball courts, shuffleboard court, cabana, picnic area, bike storage, community room, library, street lights, elevator(s), manager on site, parking

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security patrol
• Utilities: Public water; Septic tank sewer; Three-phase electric; Cable available; Water available
• Home design: Condominium; Resale; 4-story building; Faces south
• Construction: CBS construction
• Exterior features: Open porch; Screened porch; Porch

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Closet cabinetry; Partially furnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $95k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: 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 44% 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 $746 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 155 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $46k; list at $108k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 21% 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 $94,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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. 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: 1.82% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• GRM: 4.6

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-7,610
• Equity at exit: $16,088

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $6,068
• Equity at exit: $9,329

Cash invested: $30,212 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,967 high
• Mortgage (P&I): −$566
• Tax from tax record: −$220 /mo · $2,636/yr
• Insurance: −$45
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$416
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $155

Break-even live

Break-even rent $1,770

Max offer price $107,900

Occupancy floor 87%

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: $26,975
• Closing costs: $3,237
• 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	24d	2	0.02mi
2811 Somerset Dr #412 Lauderdale Lakes, FL	2.0	2.0	865	$1,700	$1.97	7d	1	0.03mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,700	$2.06	3d	2	0.04mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	2d	1	0.08mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	11d	3	0.09mi
2800 Somerset Dr Unit 418J Lauderdale Lakes, FL	2.0	2.0	1010	$1,800	$1.78	15d	1	0.14mi
2725 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	990	$2,250	$2.27	24d	1	0.18mi
2830 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	1010	$1,925	$1.91	11d	2	0.20mi
3390 NW 30th St Unit 3 Lauderdale Lakes, FL	2.0	1.0	800	$1,650	$2.06	24d	1	0.27mi
3529 NW 29th Pl Lauderdale Lakes, FL	3.0	2.5	1474	$3,200	$2.17	24d	1	0.33mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$2,076	$2.40	2d	14	0.45mi
3621 NW 30th Ct Oakland Park, FL	2.0	2.5	1104	$2,695	$2.44	14d	1	0.49mi
3684 NW 29th Ct Lauderdale Lakes, FL	3.0	2.5	1478	$2,700	$1.83	24d	1	0.55mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,600	$2.11	5d	1	0.58mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,700	$2.24	24d	1	0.58mi
3710 NW 21st St #305 Lauderdale Lakes, FL	2.0	2.0	1100	$1,650	$1.50	24d	1	0.63mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	10d	1	0.63mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	20d	1	0.63mi
3119 Oakland Shores Dr Unit C212 Oakland Park, FL	1.0	1.0	760	$1,380	$1.82	24d	1	0.63mi
3119 Oakland Shores Dr Unit C110 Oakland Park, FL	2.0	2.0	1050	$1,800	$1.71	7d	1	0.63mi
3430 NW 34th St Lauderdale Lakes, FL	2.0	2.0	1259	$2,306	$1.83	14d	1	0.66mi
3082 S Oakland Forest Dr #1301 Oakland Park, FL	2.0	2.5	1098	$1,975	$1.80	20d	1	0.66mi
3610 NW 21st St Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	950	$1,750	$1.84	24d	2	0.66mi
3610 NW 21st St #308 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	22d	1	0.66mi
3610 NW 21st St #413 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	20d	1	0.66mi
3700 NW 21st St #203 Lauderdale Lakes, FL	1.0	1.0	800	$1,500	$1.88	20d	1	0.67mi
3048 NW 20th St Unit n/a Fort Lauderdale, FL	3.0	2.0	1107	$2,800	$2.53	24d	1	0.68mi
2700 NW 39th Way Lauderdale Lakes, FL	2.0–3.0	1.0–1.5	858	$1,750	$2.04	3d	6	0.69mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,600	$2.84	15d	1	0.70mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,400	$2.62	7d	1	0.70mi
2721 NW 25th St Fort Lauderdale, FL	3.0	2.0	1015	$3,000	$2.96	2d	1	0.73mi
3064 S Oakland Forest Dr #1001 Oakland Park, FL	3.0	2.0	1156	$2,850	$2.47	24d	1	0.74mi
3076 S Oakland Forest Dr #503 Oakland Park, FL	3.0	2.0	1244	$2,900	$2.33	24d	1	0.75mi
3540 NW 34th Ter Lauderdale Lakes, FL	2.0	1.0	1056	$1,200	$1.14	17d	1	0.77mi
2890 NW 20th St Fort Lauderdale, FL	3.0	1.0	1326	$2,560	$1.93	24d	1	0.78mi
2829 S Oakland Forest Dr Oakland Park, FL	2.0–3.0	2.0	1295	$2,275	$1.76	2d	10	0.80mi
2631 NW 25th St Fort Lauderdale, FL	3.0	2.0	1446	$2,700	$1.87	24d	1	0.84mi
2720 S Oakland Forest Dr Oakland Park, FL	2.0	2.0	1100	$2,050	$1.86	24d	1	0.85mi
3852 NW 34th St Lauderdale Lakes, FL	1.0	1.0	1443	$950	$0.66	14d	1	0.85mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	24d	1	0.85mi

HOA detail condo

• Monthly dues: $416 · $4,992/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $107,900 Active 155 DOM
2. 2026-06-17
   days on market $107,900 Active 154 DOM
3. 2026-06-16
   days on market $107,900 Active 153 DOM
4. 2026-06-15
   days on market $107,900 Active 152 DOM
5. 2026-06-13
   days on market $107,900 Active 150 DOM
6. 2026-06-09
   days on market $107,900 Active 146 DOM
7. 2026-06-07
   days on market $107,900 Active 144 DOM
8. 2026-06-04
   days on market $107,900 Active 141 DOM
9. 2026-06-03
   days on market $107,900 Active 140 DOM
10. 2026-06-02
    days on market $107,900 Active 139 DOM
11. 2026-06-01
    days on market $107,900 Active 138 DOM
12. 2026-05-31
    days on market $107,900 Active 137 DOM
13. 2026-01-14
    listed $107,900 Active
14. 2025-12-08
    historical
15. 2025-03-31
    listed $109,900 Active
16. 2016-07-07
    soldstatus $46,000
17. 1992-04-10
    soldstatus $35,000
18. 1991-11-13
    soldstatus $30,000
19. 1990-10-02
    soldstatus $24,000
20. 1984-03-01
    soldstatus $40,000

ⓘ 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: $2,636 · $220/mo
• Projected year-2 tax: $2,636 · $220/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: $23,599
• − Mortgage interest: −$6,044
• − Property taxes: −$2,636
• − Insurance: −$2,364
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − HOA: −$4,992
• − Depreciation: −$3,139
• Taxable income: $648
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $1,706/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

+169.8% since first listed

8 events — show timeline

• 2026-01-14 Listed $107,900 Beaches MLS
• 2025-12-08 Listing Removed — Beaches MLS
• 2025-03-31 Listed $109,900 Beaches MLS
• 2016-07-07 Sold (Public Records) $46,000 Public Records
• 1992-04-10 Sold (Public Records) $35,000 Public Records
• 1991-11-13 Sold (Public Records) $30,000 Public Records
• 1990-10-02 Sold (Public Records) $24,000 Public Records
• 1984-03-01 Sold (Public Records) $40,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,636 · +5.4% YoY. Source: county tax records.