2840 Somerset Dr #205MLauderdale LakesFL33311
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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 Lauderdale Lakes at 2840 Somerset Dr #205M, Lauderdale Lakes, FL, 33311 offers a 9.61% rental yield on a $135,000 purchase with $1,081/mo rent. Total monthly income registers $1,081/mo, and a $661/mo payment leaves $185/mo available for distribution. Annual cash flow reaches $2,218/yr on $44,753 to close, and return on cash invested stands at 24.87% in year one. Equity gained on principal adds $871/yr while 5% annual appreciation supports $37,298 over five years. Portfolio math shows five-year ROI at 130.02% and total cumulative return in cash at $58,189. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,081/mo property income against a $661/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1980
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
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Listed by: Courtney Merricks • Charles Rutenberg Realty FTL
Mls Name: BeachesMLS
Mls ID: #F10536015