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$297,500

Sold
1147 Hillsboro Mile Apt 911, Hillsboro Beach, FL 33062
2 Beds
2 Baths
1,200 Square Feet
0.00 Acres Lot
Built in 1971
Sold
Units n/a
Checked: 3 hours ago
Updated: Jun 26, 2025 at 11:48PM

Investment Summary


Monthly Cash Flow
$445
Cap Rate
8.1%
Cash-on-Cash Return
7.8%
Debt Coverage Ratio
1.29
Internal Rate of Return (5 years)
11.6%

Property Description


0.00 Acres Lot
Built in 1971
Sold
Units n/a

FULLY FURNISHED & NICELY DECORATED 9th floor unit w/ one of the most AMAZING OCEAN VIEWS ever. HURRICANE IMPACT WINDOWS, spacious open living area, large br's & EAT IN KITCHEN. This is an absolute must see & won't last long at this price. Opal Towers has a 24 hr security guard, resort style oceanfront heated pool, fitness center, BBQ & picnic area overlooking the Atlantic, on site management & high speed fiber optics internet. Centrally located to all the hottest & most popular beachfront dining spots

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Location


Property Details


Parking

  • Description: Detached, Underground, Garage, Guest, OneSpace
  • Details: Detached, Garage, Guest
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 6
  • # of Stories: 10

HOA

  • Has HOA: Yes
  • HOA Fee: $633/monthly
  • Additional HOA Fee: $633

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 484308AH2250
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1971

Tax Information

  • Annual Tax: $5,685

Utilities

  • Heating: Electric
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Broward

Listing Details


Listed by:
Lonnie Brooks
RE/MAX House of Real Estate
(954) 709-2523

Source:
BeachesMLS
MLS#: F10052055
BeachesMLS

Investment Summary


Monthly Cash Flow
$445
Cap Rate
8.1%
Cash-on-Cash Return
7.8%
Debt Coverage Ratio
1.29
Internal Rate of Return (5 years)
11.6%

Purchase Details

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Purchase price:
$297,500
Amount financed:
-$238,000
Down payment:
$59,500
Closing costs:
$8,925
Rehab costs:
$0
Initial cash invested:
$68,425
Square feet:
1,200
Cost per square foot:
$248
Monthly rent per square foot:
$3.75

Financing Details

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Loan amount:
$238,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$1,553
Property tax:
$474
Insurance:
$315
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,342

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,500 $54,000
Vacancy loss: (6%)
6% -$270 -$3,240
Operating income:
$4,230 $50,760

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$474-$5,685
Insurance: (7%)
7%-$315-$3,780
Property management: (8%)
8%-$360-$4,320
Repairs & maintenance: (5%)
5%-$225-$2,700
Capital expenditures: (5%)
5%-$225-$2,700
HOA fees: (14%)
14%-$633-$7,596
Total operating expenses: (50%)
50%-$2,232-$26,781

Cash Flow


Monthly Yearly
Net operating income:
$1,998 $23,976
Mortgage payments:
-$1,553 -$18,636
Cash flow:
$445 $5,340