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55+ Lauderdale Lakes | Rare 3.5 Fixed Assumable Rate + Owner Financing | $40k Down Property Overview: 3001 NW 48th Ave #442, Lauderdale Lakes, FL 33313 (Cypress Chase) Asking Price: $109,000 | Down Payment Required: $40,000 to $42,500 cash Description: Skip high bank interest rates and complex condo mortgage rules. This top-floor 55+ residence in Cypress Chase offers an ultra-rare financing structure that keeps your total monthly housing cost roughly $1,100 to $1,125 per month—cheaper than renting almost anywhere in Broward County. The Financing Structure: Purchase Price: $109,000 Down Payment: $40,000 to $42,500 cash First Mortgage: Assume the existing $33,000 loan at an unbeatable 3.5 fixed interest rate (approx. $191/mo principal & interest) Second Mortgage (Owner Financed): Seller will finance the remaining balance of ~$33,500 to $36,000 at 7.5 interest rate (approx. $310 to $334/mo principal & interest) Total Monthly Cost: ~$1,100 to $1,125/mo all-in, including both mortgage payments, monthly HOA maintenance, and estimated property taxes Unit & Community Features: Bright, quiet top-floor unit with an open layout and screened patio Well-maintained 55+ active adult community featuring a clubhouse, pool, shuffleboard, and social activities Convenient central Broward location near shopping, dining, medical facilities, and the Turnpike Terms & Requirements: Buyer must meet Cypress Chase Association approval requirements (55+ age verification, background, and credit check). Title, second mortgage, and closing to be handled by a licensed Florida title company / real estate attorney.
Listing Updated: 2026-11-05 11:30:47
