2860 Somerset Dr Unit 101K · Lauderdale Lakes, FL 33311

$90,000

1 bd · 2.0 ba · 835 sqft · Condo public records · 384 Days on market

Built 1979 $408/mo HOA · 24% of rent

---

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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• 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

Meticulously upgraded 1BR/1.5BA first-floor unit in 55+ gated community with 24/7 security. Spacious bedroom with 2 walk-in closets, W/ D hookup, large living/dining area, and cozy patio. Kitchen includes refrigerator, stove, microwave, dishwasher, disposal. Steps from clubhouse and pool. Prime location near restaurants, shopping, and houses of worship. Unit rented until 7/26 Assoc. requires 580+ credit, 10% down, pets under 5 lbs.

Key facts

• Gated community
• Steps from pool
• 24/7 security

Tags

• GATED COMMUNITY
• 24/7 SECURITY
• WALK-IN CLOSETS
• KITCHEN INCLUDES REFRIGERATOR
• STEPS FROM CLUBHOUSE
• STEPS FROM POOL

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, laundry, structure maintenance, and pool(s); Community amenities include clubhouse and elevator(s); Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Security guard
• Utilities: Electric water heater
• Home design: Attached property; 4-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Patio; Fenced

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s)
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (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: 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: Park Lakes Elementary School (math 35% / reading 44%, grade F, #1,513 of 2,144 statewide, top 73%, 970 students, 82% 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 70% FRL vs 51% district-wide (19 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 17d 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 39% 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 $622 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 384 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $90k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $152/mo; HOA is 24% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 384 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 1979 — 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: 1.93% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• GRM: 4.3

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-9,226
• Equity at exit: $13,419

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,001
• Equity at exit: $7,782

Cash invested: $25,200 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$472
• Tax from tax record: −$216 /mo · $2,596/yr
• Insurance: −$38
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$408
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $83

Break-even live

Break-even rent $1,628

Max offer price $90,000

Occupancy floor 90%

Sensitivity live

Price	-10% $134	-5% $109	+0% $83	+5% $58	+10% $32
Rent	-10% $-54	-5% $15	+0% $83	+5% $152	+10% $220
Rate	-1.0pp $129	-0.5pp $106	base $83	+0.5pp $60	+1.0pp $36

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Somerset Dr Unit 418J Lauderdale Lakes, FL	2.0	2.0	1010	$1,800	$1.78	16d	1	0.08mi
2821 Somerset Dr #217 Lauderdale Lakes, FL	1.0	1.0	748	$1,400	$1.87	4d	1	0.10mi
2830 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	1010	$1,925	$1.91	12d	2	0.14mi
2811 Somerset Dr #412 Lauderdale Lakes, FL	2.0	2.0	865	$1,700	$1.97	9d	1	0.15mi
2841 Somerset Dr Lauderdale Lakes, FL	1.0	1.0	696	$1,598	$2.30	12d	3	0.17mi
2801 Somerset Dr Lauderdale Lakes, FL	2.0	2.0	865	$1,775	$2.05	25d	2	0.20mi
2851 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	827	$1,300	$1.57	4d	2	0.21mi
2871 Somerset Dr #207 Lauderdale Lakes, FL	1.0	1.0	644	$1,400	$2.17	25d	1	0.27mi
3390 NW 30th St Unit 3 Lauderdale Lakes, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.29mi
2725 Somerset Dr Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	990	$1,685	$1.70	25d	1	0.31mi
3115 Oakland Shores Dr Unit E208 Oakland Park, FL	1.0	1.0	760	$1,700	$2.24	25d	1	0.39mi
3115 Oakland Shores Dr Oakland Park, FL	1.0	1.0	760	$1,625	$2.14	0d	2	0.39mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	22d	1	0.45mi
3123 Oakland Shores Dr Unit D112 Oakland Park, FL	1.0	1.0	760	$1,450	$1.91	12d	1	0.45mi
3119 Oakland Shores Dr Unit C110 Oakland Park, FL	2.0	2.0	1050	$1,800	$1.71	9d	1	0.45mi
3119 Oakland Shores Dr Unit C212 Oakland Park, FL	1.0	1.0	760	$1,380	$1.82	25d	1	0.45mi
3541 NW 30th Pl Lauderdale Lakes, FL	1.0–3.0	1.0–2.0	865	$1,739	$2.01	0d	16	0.47mi
3082 S Oakland Forest Dr #1301 Oakland Park, FL	2.0	2.5	1098	$1,975	$1.80	22d	1	0.48mi
3621 NW 30th Ct Oakland Park, FL	2.0	2.5	1104	$2,695	$2.44	15d	1	0.55mi
2720 S Oakland Forest Dr Oakland Park, FL	2.0	2.0	1100	$2,050	$1.86	25d	1	0.67mi
3540 NW 34th Ter Lauderdale Lakes, FL	2.0	1.0	1056	$1,200	$1.14	19d	1	0.68mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,400	$2.62	9d	1	0.74mi
2040 NW 29th Ter Unit 2040 Fort Lauderdale, FL	2.0	1.0	916	$2,600	$2.84	16d	1	0.74mi
2890 N Oakland Forest Dr #204 Oakland Park, FL	2.0	2.0	992	$2,000	$2.02	20d	1	0.74mi
2890 N Oakland Forest Dr #111 Oakland Park, FL	2.0	2.0	1038	$2,000	$1.93	9d	1	0.74mi
2733 S Oakland Forest Dr Oakland Park, FL	2.0	2.0	1050	$2,200	$2.10	25d	1	0.75mi
2850 N Oakland Forest Dr Oakland Park, FL	1.0–2.0	1.0–2.0	918	$1,600	$1.74	4d	4	0.76mi
2850 N Oakland Forest Dr Oakland Park, FL	1.0	1.0	786	$1,675	$2.13	21d	2	0.76mi
2820 N Oakland Forest Dr Oakland Park, FL	1.0	1.0	824	$1,735	$2.11	9d	2	0.78mi
2810 N Oakland Forest Dr #104 Oakland Park, FL	2.0	2.0	1050	$2,295	$2.19	4d	1	0.80mi
2810 N Oakland Forest Dr #108 Oakland Park, FL	1.0	1.0	862	$1,550	$1.80	25d	1	0.80mi
2880 N Oakland Forest Dr Oakland Park, FL	1.0–2.0	1.0–2.0	921	$1,799	$1.95	25d	2	0.80mi
2880 N Oakland Forest Dr Oakland Park, FL	1.0–2.0	1.0–2.0	921	$1,799	$1.95	6d	2	0.80mi
2880 N Oakland Forest Dr Oakland Park, FL	1.0–2.0	1.0–2.0	912	$1,654	$1.81	5d	3	0.80mi
3710 NW 21st St #305 Lauderdale Lakes, FL	2.0	2.0	1100	$1,650	$1.50	25d	1	0.81mi
2700 NW 39th Way Lauderdale Lakes, FL	2.0–3.0	1.0–1.5	858	$1,750	$2.04	0d	6	0.82mi
2881 N Oakland Forest Dr Oakland Park, FL	1.0–2.0	1.0–2.0	1002	$1,690	$1.69	13d	5	0.83mi
2881 N Oakland Forest Dr Oakland Park, FL	2.0	2.0	1119	$2,220	$1.98	16d	3	0.83mi
3610 NW 21st St Lauderdale Lakes, FL	1.0–2.0	1.0–2.0	950	$1,500	$1.58	25d	2	0.84mi
3610 NW 21st St #308 Lauderdale Lakes, FL	2.0	2.0	1100	$1,750	$1.59	23d	1	0.84mi

HOA detail condo

• Monthly dues: $408 · $4,896/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $90,000 Active 384 DOM
2. 2026-06-18
   days on market $90,000 Active 381 DOM
3. 2026-06-17
   days on market $90,000 Active 380 DOM
4. 2026-06-16
   days on market $90,000 Active 379 DOM
5. 2026-06-15
   days on market $90,000 Active 378 DOM
6. 2026-06-13
   days on market $90,000 Active 376 DOM
7. 2026-06-09
   days on market $90,000 Active 372 DOM
8. 2026-06-07
   days on market $90,000 Active 370 DOM
9. 2026-06-04
   days on market $90,000 Active 367 DOM
10. 2026-06-03
    days on market $90,000 Active 366 DOM
11. 2026-06-02
    days on market $90,000 Active 365 DOM
12. 2026-06-01
    remarks 435-char remark
13. 2026-06-01
    listed $90,000 Active 364 DOM

ⓘ 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: $2,596 · $216/mo
• Projected year-2 tax: $2,596 · $216/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 · 27 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: $20,797
• − Mortgage interest: −$5,041
• − Property taxes: −$2,596
• − Insurance: −$2,274
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − HOA: −$4,896
• − Depreciation: −$2,618
• Taxable income: $44
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $989/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

+239.6% since first listed

31 events — show timeline

• 2026-06-01 Relisted — MARMLS
• 2026-02-05 Price Changed $90,000 MARMLS
• 2026-01-21 Price Changed $92,000 MARMLS
• 2026-01-07 Price Changed $95,000 MARMLS
• 2025-11-14 Price Changed $100,000 MARMLS
• 2025-09-29 Price Changed $110,000 MARMLS
• 2025-07-29 Rental Removed $1,550 MARMLS
• 2025-05-31 Price Changed $1,550 MARMLS
• 2025-05-31 Price Changed $115,000 MARMLS
• 2025-05-05 Listed $120,000 MARMLS
• 2025-05-04 Listed for Rent $1,650 MARMLS
• 2024-05-14 Listing Removed — MARMLS
• 2023-12-14 Listing Removed — MARMLS
• 2023-12-14 Listed $117,000 MARMLS
• 2023-11-25 Price Changed $118,000 MARMLS
• 2023-11-07 Price Changed $120,000 MARMLS
• 2023-10-30 Price Changed $124,900 MARMLS
• 2023-10-26 Price Changed $125,000 MARMLS
• 2023-10-18 Price Changed $129,850 MARMLS
• 2023-10-11 Price Changed $129,900 MARMLS
• 2023-09-06 Price Changed $134,800 MARMLS
• 2023-09-05 Price Changed $134,850 MARMLS
• 2023-08-30 Price Changed $134,900 MARMLS
• 2023-08-25 Price Changed $134,950 MARMLS
• 2023-07-26 Price Changed $135,000 MARMLS
• 2023-07-14 Price Changed $139,000 MARMLS
• 2023-07-07 Price Changed $135,000 MARMLS
• 2023-07-06 Listed $143,500 MARMLS
• 2019-12-05 Sold (Public Records) $42,000 Public Records
• 2003-07-21 Sold (Public Records) $25,000 Public Records
• 1979-04-01 Sold (Public Records) $26,500 Public Records

Property tax history

+20.2%/yr

Latest (2025): $2,596 · +11.4% YoY. Source: county tax records.