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+3 photosLuxury condo — 2831 Somerset Drive 305 · Somerset No 2 Condo · Lauderdale Lakes
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Open property magazine$74,900
2831 Somerset Drive 305, Lauderdale Lakes, FL 33311
Lauderdale Lakes, FL, 33311
1 bd · 1 ba · 748 sqft
Listed by United Realty Group Inc
2831 Somerset Drive 305, Lauderdale Lakes, FL 33311
Listed by United Realty Group Inc
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Estimated monthly payment
$893/mo
Know your costs before you buy
Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.
Estimated monthly payment $893/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.
Cash to close includes the down payment, lender and title costs, taxes, insurance prepayments and escrow deposits. Editable estimate only.
Insurance and flood: AH · verify insurance quotes before buying.
About this home
Find similar homesRecently reduced and priced to sell —one of the best values for a 1-bedroom in Somerset. Seller motivated and ready to make a deal. Bright and well-maintained 1BR/1BA with approximately 748 sq ft of living space in a desirable 55+ gated community with manned security. Open layout with ceramic tile floors throughout and abundant natural light. Spacious bedroom with ample storage. Vacant and ready for immediate occupancy. Enjoy resort-style amenities including heated pool, clubhouse, fitness center, billiards, shuffleboard, and walking paths. Conveniently located near shopping, dining, and major roadways. Low HOA. Optional furniture available for turnkey move-in. Strong value—don't miss this opportunity. Rental restrictions apply. Vacant and easy to show. Schedule via ShowingTime and use Supra lockbox. Optional furniture available for turnkey setup. Well-maintained 55+ gated community with strong amenities and convenient location near shopping, dining, and major roadways.
Why we flagged this one
A transparent review of current MLS facts—not a paid placement.
Price reduced 17%
The seller has come down from $89,900 to $74,900 — a $15,000 reduction since it came on the market.
190 days on market
Longer time on market usually means the seller is more open to negotiating on price and terms.
Price reductions and days on market come from this listing's MLS record. This is an initial market signal, not a formal appraisal or full comparable market analysis.
Building health
- Building
- SOMERSET NO 2 CONDO· MLS
- Year built
- 1974· MLS
- Stories
- 4· MLS
- Units
- Not provided —
- Milestone inspection
- Not provided —
- Milestone date
- Not provided —
- SIRS
- Not provided —
- SIRS date
- Not provided —
- Special assessments
- Not provided —
- Assessment amount
- Not provided —
- Assessment purpose
- Not provided —
- Assessment due date
- Not provided —
- Reserves
- Not provided —
- Minimum lease term
- Not provided —
- Rentals per year
- Not provided —
- Pet rules
- No· MLS
- Age restriction (55+)
- Not provided —
- HOA fee
- $390 / month · billed Monthly· MLS
Last updated Not provided, source: MLS remarks —
Always review the association's milestone inspection report, SIRS, budget and the last 24 months of board minutes before you buy.
Property Details
Your costs (est.)
≈ $893/mo
2831 Somerset Drive 305, Lauderdale Lakes, FL 33311 · Lauderdale Lakes
Location
2831 Somerset Drive 305, Lauderdale Lakes, FL 33311
What buyers ask about this home
What are the estimated monthly carrying costs at 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311?+
Property tax (after sale): $115/month est.; homeowners insurance: $0/month est.; HOA: $390/month. Fixed ownership costs before a mortgage: $505/month est. Principal and interest: $389/month; PMI: $0/month. Total for the payment scenario shown: $893/month est. Flood insurance is not included. Estimate only, not guaranteed. Verify before you buy or sell.
Will property taxes go up after I buy 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311?+
Usually yes. In Florida the assessed value resets to market value in the year after a sale, so the seller's current tax bill is rarely what a new owner pays. Budget roughly 1.8–2.0% of the purchase price annually until you file for homestead exemption and the Save Our Homes cap (or the 10% non-homestead cap) starts limiting increases.
Does 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311 need flood insurance, and what drives the premium?+
Most of Lauderdale Lakes sits in a FEMA flood zone, and lenders require flood coverage in high-risk zones. Premiums are driven by elevation certificate, flood zone, roof age and shape, and whether the home has impact windows or accordion shutters. Ask for the current declarations page, the four-point inspection and wind mitigation report early — they set your real cost of ownership.
What should I check about the association before buying 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311?+
For a Florida condo, review the milestone structural inspection and the Structural Integrity Reserve Study, current reserve balances, any pending or recently voted special assessment, the association's insurance and its litigation history. Ask how many units are owner-occupied and whether the lender will approve the building — a poorly funded association is the single biggest hidden cost in a condo purchase.
Can 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311 be rented out?+
Rental rules are set by the association's documents, not the MLS. Many Lauderdale Lakes luxury buildings limit leases to once or twice a year with a minimum term and require board approval and an application fee. Request the declaration and rules before your inspection period ends if rental income matters to your plan.
Is there room to negotiate on 2831 Somerset Drive 305, Lauderdale Lakes, FL 33311?+
This listing has been on the market 190 days. Leverage comes from days on market, price history, comparable closed sales and the seller's motivation — not from a fixed percentage. I pull the full history and the true comps before we write, so the offer is built on what the property is actually worth today. Call or text (954) 562-1798 for that analysis.
Neighborhood & Commute
Located in Lauderdale Lakes, this property offers the South Florida lifestyle — warm-weather living year-round with easy access to the Atlantic coast, A-rated schools, and major business centers.
Approximate Drive Times
Drive times are estimates based on straight-line distance at typical South Florida traffic speeds. Actual times vary with traffic and routing.
Assigned schools for this address
Rock Island Elementary School
Elementary · 1.3 mi from this home · 2350 Nw 19Th St, Fort Lauderdale
William Dandy Middle School
Middle school · 1.0 mi from this home · 2400 Nw 26Th St, Fort Lauderdale
Boyd H. Anderson High School
High school · 1.2 mi from this home · 3050 Nw 41St St, Lauderdale Lakes
Zone boundaries published by Broward County Public Schools.
Other options for this address
ST. Helen Roman Catholic Church
Elementary · Private · Catholic · Grades PK–8 · Fort Lauderdale
Somerset Academy Village Charter Middle School
Middle school · Charter · Grades 6–8 · Wilton Manors
Edith Robinson Christian Academy
High school · Private · Christian · Grades 9–12 · Fort Lauderdale
ST. Thomas Aquinas High School
High school · Private · Catholic · Grades 9–12 · Fort Lauderdale
Fort Lauderdale Preparatory School
Pre-K & Kindergarten · Private · Grades K–12 · Fort Lauderdale
New Alkebulan S.T.E.M. Education Center
Pre-K & Kindergarten · Private · Grades K–12 · Lauderhill
School assignment is set by the district and can change. Always confirm the zoned school with the district before you buy.
The home, in a magazine
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Open the magazine
Simon Gedz
Realtor® since 1995
Interested in this property?
$74,900 · MLS B26024371
$74,900
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