2801 Somerset Dr #205 · Lauderdale Lakes, FL 33311

$109,500

1 bd · 1.0 ba · 748 sqft · Condo public records · 129 Days on market

Built 1975 $395/mo HOA · 25% of rent

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Why this score? — see what drove the C- 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 +15.4/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 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

Stunning, fully remodeled corner unit in the HOPA-verified community of Somerset Phase 1, Building G. This beautifully furnished 1-bedroom, 1-bath residence is offered turnkey and features abundant natural light, new tile flooring throughout, and a modern open layout. The contemporary kitchen showcases white shaker cabinets, stainless steel appliances, and flows seamlessly into the living and dining areas. Major updates include a new roof, A/C (2017), and water heater (2023). 50 years is also complete! Enjoy peaceful garden views from the screened balcony with roll-down shutters, accessible from both the living room and bedroom. Community amenities include a heated pool, pickleball, sauna,

Key facts

• Contemporary kitchen
• Screened balcony
• Modern open layout

Tags

• REMODELED CORNER UNIT
• MODERN OPEN LAYOUT
• CONTEMPORARY KITCHEN
• WHITE SHAKER CABINETS
• STAINLESS STEEL APPLIANCES
• SCREENED BALCONY

Property features AI

Finance

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

Exterior

• Parking: Assigned parking; Guest parking
• Security: Closed-circuit cameras; Complex fenced; Key card entry
• Utilities: Cable available
• Home design: Attached property; 2nd floor entry; 4-story building
• Construction: Block construction; Effective year built
• Exterior features: Balcony; Screened balcony

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Second-floor entry; Living/dining room; Pantry; Tub/shower; Walk-in closet(s)
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (17.6% below list).
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $90k (17.6% below list) — sets the bar for cash-flow.

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); 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 $757 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 129 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $110k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 25% 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 $90,222 (17.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.43% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 5.8

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: -23.5%
• Equity multiple: 0.20×
• Total profit: $-24,656
• Equity at exit: $16,327

10-year hold

• IRR: -18.2%
• Equity multiple: 0.01×
• Total profit: $-30,271
• Equity at exit: $9,468

Cash invested: $30,660 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,561 high
• Mortgage (P&I): −$574
• Tax from tax record: −$175 /mo · $2,101/yr
• Insurance: −$46
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$395
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-109

Break-even live

Break-even rent $1,699

Max offer price $90,222

Occupancy floor —

Sensitivity live

Price	-10% $-47	-5% $-78	+0% $-109	+5% $-140	+10% $-171
Rent	-10% $-232	-5% $-171	+0% $-109	+5% $-47	+10% $14
Rate	-1.0pp $-54	-0.5pp $-81	base $-109	+0.5pp $-138	+1.0pp $-166

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: $27,375
• Closing costs: $3,285
• 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	$1,300	$1.57	4d	2	0.04mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	3d	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
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	0d	17	0.45mi
4141 NW 26th St #316 Lauderhill, FL	1.0	1.0	624	$1,450	$2.32	25d	1	0.83mi
4121 NW 26th St Unit T16 Lauderhill, FL	1.0	1.5	750	$1,500	$2.00	25d	1	0.85mi
3033 NW 43rd Ave #108 Lauderdale Lakes, FL	1.0	1.0	650	$1,590	$2.45	15d	1	0.97mi
3030 NW 43rd Ter #102 Lauderdale Lakes, FL	1.0	1.0	710	$1,450	$2.04	25d	1	1.00mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,675	$2.07	25d	3	1.00mi
4160 NW 21st St Lauderhill, FL	1.0–2.0	1.0	810	$1,599	$1.97	0d	3	1.00mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	3d	2	1.01mi
3030 NW 43rd Ter Lauderdale Lakes, FL	1.0	1.0	592	$1,400	$2.36	0d	2	1.01mi
3960 NW 31st Ter Unit 2 Lauderdale Lakes, FL	1.0	1.0	720	$1,500	$2.08	25d	1	1.07mi
2417 NW 20th St Unit 1 Fort Lauderdale, FL	2.0	1.0	649	$1,700	$2.62	8d	1	1.12mi
2070 NW 43rd Ter #6 Lauderhill, FL	1.0	1.0	600	$1,600	$2.67	23d	1	1.12mi
4047 NW 16th St #109 Lauderhill, FL	1.0	1.0	725	$1,300	$1.79	25d	1	1.15mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	15d	1	1.16mi
1816 NW 25th Ter Unit 2 Fort Lauderdale, FL	1.0	1.0	450	$1,600	$3.56	4d	1	1.16mi
1770 NW 25th Ter Fort Lauderdale, FL	2.0	1.0	720	$2,000	$2.78	0d	1	1.18mi
4130 NW 31st Ter Unit 1 Lauderdale Lakes, FL	2.0	1.0	700	$1,900	$2.71	13d	1	1.25mi
2707 NW 15th St Unit 2 Fort Lauderdale, FL	—	1.0	375	$1,175	$3.13	16d	1	1.28mi
2708 NW 15th St Fort Lauderdale, FL	2.0	1.0	750	$1,700	$2.27	25d	1	1.31mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	8d	1	1.35mi
4299 NW 16th St #103 Lauderhill, FL	1.0	1.0	700	$1,400	$2.00	25d	1	1.35mi
3061 NW 47th Ter Unit 335B Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	0d	1	1.37mi
3061 NW 47th Ter Unit 327B Lauderdale Lakes, FL	1.0	1.5	662	$1,600	$2.42	8d	1	1.37mi
3061 NW 47th Ter Unit 132C Lauderdale Lakes, FL	1.0	1.0	610	$1,500	$2.46	25d	1	1.37mi
3061 NW 47th Ter #327 Lauderdale Lakes, FL	1.0	1.5	662	$1,500	$2.27	25d	1	1.37mi
2901 NW 47th Ter Unit 348B Lauderdale Lakes, FL	1.0	1.5	662	$1,350	$2.04	25d	1	1.37mi
2901 NW 47th Ter Unit 247B Lauderdale Lakes, FL	1.0	1.5	662	$1,400	$2.11	0d	1	1.37mi
3001 NW 48th Ave #440 Lauderdale Lakes, FL	1.0	1.5	705	$1,300	$1.84	25d	1	1.41mi
1599 NW 43rd Ave #106 Lauderhill, FL	1.0	1.0	730	$1,499	$2.05	18d	1	1.43mi
1861 NW 46th Ave Lauderhill, FL	2.0	1.0–2.0	730	$1,480	$2.03	0d	12	1.44mi
3301 NW 47th Ter #308 Lauderdale Lakes, FL	1.0	2.0	750	$2,200	$2.93	13d	1	1.45mi
1196 NW 40th Ave Lauderhill, FL	1.0–2.0	1.0	825	$1,540	$1.87	2d	10	1.47mi
2554 NW 14th St Fort Lauderdale, FL	1.0	1.0	400	$1,500	$3.75	25d	1	1.48mi
2571 NW 13th Ct Unit C Fort Lauderdale, FL	2.0	1.0	700	$1,600	$2.29	21d	1	1.48mi
2571 NW 13th Ct Unit 3 Fort Lauderdale, FL	2.0	1.0	700	$1,600	$2.29	25d	1	1.48mi
2620 NW 18th Ter #3 Oakland Park, FL	2.0	1.0	744	$2,000	$2.69	25d	1	1.49mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $109,500 Active 129 DOM
2. 2026-06-18
   days on market $109,500 Active 126 DOM
3. 2026-06-17
   days on market $109,500 Active 125 DOM
4. 2026-06-16
   days on market $109,500 Active 124 DOM
5. 2026-06-15
   days on market $109,500 Active 123 DOM
6. 2026-06-13
   days on market $109,500 Active 121 DOM
7. 2026-06-09
   days on market $109,500 Active 117 DOM
8. 2026-06-07
   days on market $109,500 Active 115 DOM
9. 2026-06-04
   days on market $109,500 Active 112 DOM
10. 2026-06-03
    days on market $109,500 Active 111 DOM
11. 2026-06-02
    days on market $109,500 Active 110 DOM
12. 2026-06-01
    days on market $109,500 Active 109 DOM
13. 2026-05-31
    days on market $109,500 Active 108 DOM
14. 2026-02-13
    listed $109,500 Active
15. 2018-04-11
    soldstatus $52,000
16. 2002-11-27
    soldstatus $21,700
17. 1975-06-01
    soldstatus $21,900

ⓘ 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: $2,101 · $175/mo
• Projected year-2 tax: $2,101 · $175/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: $18,727
• − Mortgage interest: −$6,134
• − Property taxes: −$2,101
• − Insurance: −$2,372
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − HOA: −$4,740
• − Depreciation: −$3,185
• Taxable loss: −$2,802
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $-637/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

+400.0% since first listed

4 events — show timeline

• 2026-02-13 Listed $109,500 MARMLS
• 2018-04-11 Sold (Public Records) $52,000 Public Records
• 2002-11-27 Sold (Public Records) $21,700 Public Records
• 1975-06-01 Sold (Public Records) $21,900 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,101 · +5.4% YoY. Source: county tax records.