2801 Somerset Dr #211Fort LauderdaleFL33311
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Fort Lauderdale at 2801 Somerset Dr #211, Fort Lauderdale, FL, 33311 uses $48,034 cash to close to unlock $2,288/yr annual cash flow and $191/mo monthly cash flow. Total monthly income runs $1,152/mo, and a $709/mo payment keeps the spread at $191/mo. Purchase price stands at $144,900, and rental yield measures 9.54% with $1,152/mo rent. Return on cash invested shows 24.67% in year one, and 5% annual appreciation builds toward $40,033 over five years. Five-year ROI reaches 128.98% and total cumulative return in cash records $61,957. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,152/mo property income covering a $709/mo payment rather than investor’s personal income.
Condo
Built in 1975
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33311, Fort Lauderdale, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,271 (100%) |
| Owner Occupied HU | 10,998 (40.3%) |
| Renter Occupied HU | 14,421 (52.9%) |
| Vacant Housing Units | 1,852 ( 6.8%) |
| Median Home Value | $362,464 |
| Average Home Value | $412,448 |
Housing Distribution
Address Breakdown
Residential
25,408
Single Family
19,202
Multi-Family
6,206
Businesses
2,571
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dany Flanders • RE/MAX Consultants Realty 1
Mls Name: BeachesMLS
Mls ID: #F10541901