Owner
$109,165
2860 SOMERSET DR APT 306K, LAUDERDALE LAKES, FL
Quick Facts
owner occupied
No
vacant
No
corporate owner
No
beds
2
baths
1
sq. ft.
748
property type
Condominium Unit (Residential)
hoa
Yes
About
Residential
Building Quality C
Living Area
3 Stories
Concrete
Financial Overview
Home Equity
Property
Outstanding Debt
Property
Loan-to-Value Ratio
Property
Property Features
Year Built
1979
Building Size
748 sq ft
Lot Size
385,002 sq ft
Lot Size (Acres)
8.84 acres
Distressed Property Status
In Pre-foreclosure
Property
Notice of Sale Filed
Property
Notice of Default Filed
Property
Scheduled for Auction
Property
Filing Date
Property
Property Location Details
Parcel Number (APN)
49-42-30-BB-1150
County
Broward County, Florida
Metro Area
Miami-Fort Lauderdale-West Palm Beach, FL
Zoning
RM-20
Neighborhood/Subdivision
SOMERSET-LAUDERDALE LAKE
Lot Number
306
School District
Broward County School District
Legal Description
SOMERSET AT LAUDERDALE LAKES CONDO UNIT 306 BLDG K PER CDO BK/PG: 8138/21
Tax & Value Information
Market Value (Total)
$76,880
Building Value
$69,190
Land Value
$7,690
Annual Property Tax
$1,630
Tax Assessment Year
2024
Assessed Value
$52,320
Last Assessment Year
2025
Original Primary Mortgage
Property
Primary Mortgage Type
Property
Original Secondary Mortgage
Property
Secondary Mortgage Type
Property
Current Mortgage Amount
Property
Current Mortgage Type
Property
Interest Rate
Property
Loan Term
Property
Lender Name
—
Last Sale Contract Date
—
Recording Date
1/26/1998
Sales Document #
—
Primary Owner
Property
Co-Owner
Property
Previous Owner
Property
Previous Co-Owner
Property
Recent sales Comparables
Estimated Value:
$0
Average Price per Sq.Ft.: $0.00
Sales Comparables
Real Estate Investment Analysis
Evaluate this property as a fix & flip opportunity
Estimated Profit
$4,224
Return on Investment
15.60%
After Repair Value
$120,082
Basic Inputs
Financing
Down Payment
20%
Interest Rate
6.5%
Loan Term (Years)
30
Holding Period (months)
6
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Analysis Details
Purchase Price
$98,249
Renovation Cost
$5,458
Closing Costs (buying)
$1,965
Holding Costs
$2,981
Selling Costs
$7,205
Total Investment
$27,073
After Repair Value (ARV)
$120,082
Total Costs
$115,857
Estimated Profit
$4,224
Cash Invested
$25,108
Return on Investment
15.60%
Return on Cash Invested
16.82%
Nearby Schools
No Elementary School nearby
No Middle School nearby
No High School nearby
Properties owned by investors
Income Distributions
Ethnicity Distributions
Chart
Yearly Purchases
Connex Segmentation Clusters
Area Profile for Investors
Quiet Residential
Walkability
Poor
(0 POIs within 1mi)
Amenities Within 0.5mi
0
locations
Schools Within 1mi
0
schools
Area Class
A
class
Investor Insight
This is a quiet residential area with 0 amenities within 1 mile.
The area has limited nearby amenities.
Key features for tenant appeal:
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Key Amenities in the Area