Somerset No Five Homes for Sale

Somerset No Five is a residential community in Lauderdale Lakes, Florida.

Pure Equity Realty covers Somerset No Five and the Lauderdale Lakes area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows a single listing for Somerset No Five Lauderdale Lakes homes for sale as of October 2026. The median asking price is $88,000.

That is 26% below the Lauderdale Lakes median of $119,000. On a per-foot basis, homes here ask about $102 per square foot, compared with $132 across Lauderdale Lakes. So the median price buys roughly 850 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 112 days on the market. That is faster than the Lauderdale Lakes average of 170 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Somerset No Five date from 1974, so they are about 52 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Condo buyers should also know Florida's 2022 condo safety law. It requires milestone structural inspections for buildings three stories or taller as they age. It also requires a structural integrity reserve study. Before you sign, request both reports and the current reserve balance.

Somerset No Five is a condo building. Also request the association budget, recent minutes and any special assessments before you sign.

Rentals in Somerset No Five have a median asking rent of $1,650 per month, across 3 active rental listings. That is close to the Lauderdale Lakes median of $1,700.

You can browse current Lauderdale Lakes rentals or ask us for a rent estimate on a specific Somerset No Five home.

Here is what the median Somerset No Five price means in Florida closing terms. At $88,000, a 20% down payment comes to about $18,000, leaving a loan near $70,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $246. Next, the intangible tax of 0.2% adds about $141. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Somerset No Five median, that is about $616.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Somerset No Five listings show assignments to Rock Island (elementary), William E. Dandy (middle) and Boyd H. Anderson (high). However, boundaries can change each year, so confirm the assignment for a specific address with Broward County Public Schools.