2831 Somerset Dr APT 118Fort LauderdaleFL33311
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeA DSCR of 1.69 makes 2831 Somerset Dr APT 118, Fort Lauderdale, FL, 33311 in Fort Lauderdale one of the easier properties to finance via Ziffy Mortgage's rental-income underwriting. Rental yield 9.14%. The 9.14% yield, 5% annual appreciation ($29,010 over five years), and $967/yr in principal reduction project a total cumulative return of $20,679.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.8% |
| Monthly Cash Flow | $(330) | $1,850 |
City averages based on Fort Lauderdale market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $800 |
| Total Monthly Debt Service | $1,088 |
| DSCR Ratio | 0.74x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1974
N/A lot
$N/A/sqft
$345 monthly 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
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
Condo
Built in 1974
N/A lot
$N/A/sqft
$345 monthly 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: Nathalie Rousseau • Keyes Company
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11546953
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.