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$155,000

Under Contract
1021 Abada Ct NE Apt 106, Palm Bay, FL 32905
2 Beds
2 Baths
793 Square Feet
0.06 Acres Lot
Built in 1983
Under Contract
1 Units
Checked: 23 hours ago
Updated: Sep 21, 2025 at 10:02AM

Investment Summary


Monthly Cash Flow
-$379
Cap Rate
3.2%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.3%

Property Description


0.06 Acres Lot
Built in 1983
Under Contract
1 Units

This is a fantastic time to stop renting and become a homeowner! This corner unit located in Oakwood Villas features upgraded granite countertops, vinyl and tile flooring, and a cozy front courtyard. Oakwood Villas features a low HOA with many amenities including a community pool, clubhouse, pickleball courts, and more! This unit is fully furnished and all that is missing is you. Schedule today for your private tour before this one is gone!

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Location


Property Details


Parking

  • Description: Assigned, Guest
  • Details: Assigned, Open
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable or Hip
  • Roof Material: Composition, Shingle

HOA

  • Has HOA: Yes
  • Association: Advanced Property Management
  • HOA Fee: $341/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 2837207500094.00012.00
  • Lot Size: 2614 sqft

Property Information

  • Property Type: Townhouse
  • Style: Ranch
  • Year Built: 1983

Tax Information

  • Annual Tax: $2,523

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Brevard

Listing Details


Listed by:
Gary R Altizer
LoKation
(321) 508-3612

Source:
BeachesMLS
MLS#: R11093163
BeachesMLS

Investment Summary


Monthly Cash Flow
-$379
Cap Rate
3.2%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.3%

Purchase Details

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Purchase price:
$155,000
Amount financed:
-$124,000
Down payment:
$31,000
Closing costs:
$4,650
Rehab costs:
$0
Initial cash invested:
$35,650
Square feet:
793
Cost per square foot:
$195
Monthly rent per square foot:
$1.77

Financing Details

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Loan amount:
$124,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$794
Property tax:
$210
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,102

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$210-$2,523
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (24%)
24%-$341-$4,092
Total operating expenses: (64%)
64%-$901-$10,815

Cash Flow


Monthly Yearly
Net operating income:
$415 $4,980
Mortgage payments:
-$794 -$9,528
Cash flow:
-$379 -$4,548