2861 Somerset Dr #211 · Lauderdale Lakes, FL 33311

$105,000

2 bd · 2.0 ba · 865 sqft · Condo public records · 115 Days on market

Built 1974 $425/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 +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

BEAUTIFUL corner unit with 2 bedrooms and 2 bathrooms with IMPACT WINDOWS BUT also IMPACT SLIDING DOORS WOW! White kitchen, TILE FLOOR throughout, this one will sell FURNISHED and TURNKEY, ready to go. Large screened patio accessible from the living room and from the master bedroom. THE Somerset Phase 1 is a great GATED COMMUNITY with a pool, BBQ area, billiard room, gym, shuffleboard and more. LOW MAINTENANCE FEES. Close to the malls and restaurants. . Only 6 MILES TO THE BEACH. Comes with one PARKING space and 1 STORAGE. No rental for 3 years, HURRY UP, WON'T LAST!

Key facts

• Gated community
• Large screened patio
• Impact sliding doors

Tags

• CORNER UNIT
• IMPACT WINDOWS
• IMPACT SLIDING DOORS
• LARGE SCREENED PATIO
• GATED COMMUNITY
• POOL

Property features AI

Finance

• Other: Association pool (heated)
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include billiard room, clubhouse, elevators, fitness center, laundry, library, barbecue, picnic area, pool, shuffleboard court, storage, tennis courts; HOA covers amenities, insurance, grounds maintenance, pest control, pool(s), sewer, trash, and water; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Key card entry; Security guard
• Utilities: Cable available; Association-managed water, sewer, trash (included in HOA)
• Home design: Corner unit; Has attached property; 4-story building; Entry on level 2
• Construction: Block construction; Resale property
• Exterior features: Patio; Security/high impact doors; Exterior lighting; Complex fenced

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Impact glass windows; Furnished; Closet cabinetry; Living/dining room; Pantry; Walk-in closet(s); Second-floor entry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 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 41% 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 $726 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 115 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y 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.
• Current owner paid $20k; list at $105k implies a 425% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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: 1.77% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 4.7

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-140
• Equity at exit: $15,656

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $21,347
• Equity at exit: $9,078

Cash invested: $29,400 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$551
• Tax from tax record: −$29 /mo · $345/yr
• Insurance: −$44
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$425
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $266

Break-even live

Break-even rent $1,519

Max offer price $105,000

Occupancy floor 81%

Sensitivity live

Price	-10% $326	-5% $296	+0% $266	+5% $237	+10% $207
Rent	-10% $120	-5% $193	+0% $266	+5% $340	+10% $413
Rate	-1.0pp $319	-0.5pp $293	base $266	+0.5pp $239	+1.0pp $211

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,700	$2.06	3d	2	0.03mi
2801 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	865	$1,775	$2.05	25d	2	0.07mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	11d	3	0.08mi
2811 Somerset Dr #412 Lauderdale Lakes, FL	2.0	2.0	865	$1,700	$1.97	8d	1	0.09mi
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	25d	1	0.10mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	3d	1	0.13mi
2800 Somerset Dr Unit 418J Lauderdale Lakes, FL	2.0	2.0	1010	$1,800	$1.78	15d	1	0.20mi
2725 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	990	$2,250	$2.27	25d	1	0.20mi
3390 NW 30th St Unit 3 Lauderdale Lakes, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.24mi
2830 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	1010	$1,925	$1.91	11d	2	0.27mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$2,076	$2.40	2d	14	0.41mi
3621 NW 30th Ct Oakland Park, FL	2.0	2.5	1104	$2,695	$2.44	14d	1	0.44mi
3710 NW 21st St #305 Lauderdale Lakes, FL	2.0	2.0	1100	$1,650	$1.50	25d	1	0.60mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,700	$2.24	25d	1	0.62mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,600	$2.11	6d	1	0.62mi
2700 NW 39th Way Lauderdale Lakes, FL	2.0–3.0	1.0–1.5	858	$1,750	$2.04	3d	6	0.63mi
3610 NW 21st St Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	950	$1,750	$1.84	25d	2	0.63mi
3610 NW 21st St #413 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	21d	1	0.63mi
3610 NW 21st St #308 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	22d	1	0.63mi
3700 NW 21st St #203 Lauderdale Lakes, FL	1.0	1.0	800	$1,500	$1.88	21d	1	0.64mi
3119 Oakland Shores Dr Unit C110 Oakland Park, FL	2.0	2.0	1050	$1,800	$1.71	8d	1	0.67mi
3119 Oakland Shores Dr Unit C212 Oakland Park, FL	1.0	1.0	760	$1,380	$1.82	25d	1	0.67mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	21d	1	0.67mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	11d	1	0.67mi
3082 S Oakland Forest Dr #1301 Oakland Park, FL	2.0	2.5	1098	$1,975	$1.80	21d	1	0.69mi
3048 NW 20th St Unit n/a Fort Lauderdale, FL	3.0	2.0	1107	$2,800	$2.53	25d	1	0.71mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,400	$2.62	8d	1	0.74mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,600	$2.84	15d	1	0.74mi
3540 NW 34th Ter Lauderdale Lakes, FL	2.0	1.0	1056	$1,200	$1.14	18d	1	0.76mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	25d	1	0.77mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	25d	1	0.79mi
2721 NW 25th St Fort Lauderdale, FL	3.0	2.0	1015	$3,000	$2.96	2d	1	0.79mi
2720 S Oakland Forest Dr Oakland Park, FL	2.0	2.0	1100	$2,050	$1.86	25d	1	0.90mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	14d	1	0.91mi
2980 NW 43rd Ter #207 Lauderdale Lakes, FL	2.0	2.0	890	$1,800	$2.02	25d	1	0.92mi
2740 NW 21st St Unit 1261589P Fort Lauderdale, FL	3.0	2.0	1097	$3,396	$3.10	25d	1	0.93mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	25d	1	0.94mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	2d	2	0.95mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,700	$2.10	8d	2	0.95mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,700	$2.10	25d	3	0.95mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $105,000 Active 115 DOM
2. 2026-06-17
   days on market $105,000 Active 114 DOM
3. 2026-06-16
   days on market $105,000 Active 113 DOM
4. 2026-06-15
   days on market $105,000 Active 112 DOM
5. 2026-06-13
   days on market $105,000 Active 110 DOM
6. 2026-06-09
   days on market $105,000 Active 106 DOM
7. 2026-06-07
   days on market $105,000 Active 104 DOM
8. 2026-06-04
   days on market $105,000 Active 101 DOM
9. 2026-06-03
   days on market $105,000 Active 100 DOM
10. 2026-06-02
    days on market $105,000 Active 99 DOM
11. 2026-06-01
    days on market $105,000 Active 98 DOM
12. 2026-05-31
    days on market $105,000 Active 97 DOM
13. 2026-03-22
    price $105,000
14. 2026-02-23
    listed $108,500 Active
15. 2024-08-25
    historical
16. 2024-05-18
    status Active
17. 2024-05-18
    price $142,000
18. 2024-05-14
    status Active
19. 2024-02-26
    price $139,000
20. 2024-02-26
    price $142,000
21. 2024-02-14
    price $139,000
22. 2024-02-14
    status Active
23. 2023-08-29
    listed $142,000 Active
24. 2023-03-25
    status Active
25. 2023-01-25
    status Active
26. 2022-10-28
    status Active
27. 2022-07-19
    listed $128,500 Active
28. 1999-04-09
    soldstatus $20,000
29. 1978-04-01
    soldstatus $22,900
30. 1978-04-01
    soldstatus $22,900

ⓘ 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: $345 · $29/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$527/yr (+$44/mo · 152.6%)

ⓘ 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: $22,277
• − Mortgage interest: −$5,882
• − Property taxes: −$345
• − Insurance: −$2,350
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − HOA: −$5,100
• − Depreciation: −$3,055
• Taxable income: $1,982
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $2,721/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

+358.5% since first listed

18 events — show timeline

• 2026-03-22 Price Changed $105,000 MARMLS
• 2026-02-23 Listed $108,500 MARMLS
• 2024-08-25 Listing Removed — MARMLS
• 2024-05-18 Relisted — MARMLS
• 2024-05-18 Price Changed $142,000 MARMLS
• 2024-05-14 Relisted — MARMLS
• 2024-02-26 Price Changed $139,000 MARMLS
• 2024-02-26 Price Changed $142,000 MARMLS
• 2024-02-14 Price Changed $139,000 MARMLS
• 2024-02-14 Relisted — MARMLS
• 2023-08-29 Listed $142,000 MARMLS
• 2023-03-25 Relisted — MARMLS
• 2023-01-25 Relisted — MARMLS
• 2022-10-28 Relisted — MARMLS
• 2022-07-19 Listed $128,500 MARMLS
• 1999-04-09 Sold (Public Records) $20,000 Public Records
• 1978-04-01 Sold (Public Records) $22,900 Public Records
• 1978-04-01 Sold (Public Records) $22,900 Public Records

Property tax history

+4.1%/yr

Latest (2025): $345 · -0.7% YoY. Source: county tax records.