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$249,900

For Sale - Active
1600 NE Dixie Hwy Apt 10-205, Jensen Beach, FL 34957
2 Beds
2 Baths
1,072 Square Feet
0.00 Acres Lot
Built in 1980
For Sale - Active
Units n/a
Checked: 19 hours ago
Updated: Aug 02, 2025 at 04:42AM

Investment Summary


Monthly Cash Flow
-$851
Cap Rate
2.1%
Cash-on-Cash Return
-17.8%
Debt Coverage Ratio
0.34
Internal Rate of Return (5 years)
-13.2%

Property Description


0.00 Acres Lot
Built in 1980
For Sale - Active
Units n/a

Discover this immaculate, light and bright, spacious 2/2 condo in the desirable River Club community, offering peek-a-boo views of the St. Lucie River from the living room and primary bedroom. One year new Air Conditioner. Enjoy luxury furniture included, refinished knockdown ceilings, and the convenience of an in-unit washer & dryer. Relax on the screened balcony with storage, and feel secure with accordion shutters. The River Club community features a marina on the wide St. Lucie River and is ideally located just 5 minutes from Indian Riverside Park and less than 8 minutes from downtown Stuart and downtown Jensen Beach, offering easy access to shopping, dining, and medical facilities.

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Location


Property Details


Parking

  • Description: Assigned, Guest
  • Details: Assigned, Guest
  • 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: 2

Exterior Features

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

HOA

  • Has HOA: Yes
  • HOA Fee: $695/monthly

Land Information

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

Lot Information

  • Parcel ID: 273741030010020507
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1980

Tax Information

  • Annual Tax: $3,077

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Martin

Listing Details


Listed by:
Pat Stracuzzi
RE/MAX Community
(772) 283-9991

Source:
BeachesMLS
MLS#: R11111230
BeachesMLS

Investment Summary


Monthly Cash Flow
-$851
Cap Rate
2.1%
Cash-on-Cash Return
-17.8%
Debt Coverage Ratio
0.34
Internal Rate of Return (5 years)
-13.2%

Purchase Details

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Purchase price:
$249,900
Amount financed:
-$199,920
Down payment:
$49,980
Closing costs:
$7,497
Rehab costs:
$0
Initial cash invested:
$57,477
Square feet:
1,072
Cost per square foot:
$233
Monthly rent per square foot:
$1.87

Financing Details

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Loan amount:
$199,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,280
Property tax:
$256
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,676

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$256-$3,077
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (35%)
35%-$695-$8,340
Total operating expenses: (73%)
73%-$1,451-$17,417

Cash Flow


Monthly Yearly
Net operating income:
$429 $5,148
Mortgage payments:
-$1,280 -$15,360
Cash flow:
$851 $10,212