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$2,500,000

For Sale - Active
217 Kings Lynn, Delray Beach, FL 33444
4 Beds
4 Baths
2,245 Square Feet
0.16 Acres Lot
Built in 2025
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: May 25, 2025 at 03:12AM

Investment Summary


Monthly Cash Flow
-$11,014
Cap Rate
1.0%
Cash-on-Cash Return
-23.0%
Debt Coverage Ratio
0.16
Internal Rate of Return (5 years)
-18.2%

Property Description


0.16 Acres Lot
Built in 2025
For Sale - Active
Units n/a

Construction has begun on this beach-modern style new home in the Lake Ida neighborhood! All of the amenities of a bigger house, on a slightly smaller footprint. There's still time to select custom finishes! This single-family home features 4 bedrooms and 4 full baths. The primary suite boasts a double sized walk-in closet, bath with dual sinks and a soaking tub. The custom contemporary kitchen features a huge island, Taj Mahal Quartzite counters, modern appliances. Built-ins and an easy to operate electric fireplace set the tone in the living room. The brand-new salt chlorinated pool out back is surrounded by a marble patio, and includes a heater and chiller, allowing for relaxing and fun all year round. Upgrades include engineered hardwood floors, gorgeous modern tile baths with Quartz

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Location


Property Details


Parking

  • Details: Attached, Driveway, Garage, Garage Door Opener
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 4.0

Interior Features

  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable or Hip
  • Roof Material: Concrete
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 12434608060000280
  • Lot Size: 7009 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 2025

Tax Information

  • Annual Tax: $11,491

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Steve Martel
Coldwell Banker Realty /Delray Beach
(561) 573-3728

Source:
BeachesMLS
MLS#: R11086581
BeachesMLS

Investment Summary


Monthly Cash Flow
-$11,014
Cap Rate
1.0%
Cash-on-Cash Return
-23.0%
Debt Coverage Ratio
0.16
Internal Rate of Return (5 years)
-18.2%

Purchase Details

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Purchase price:
$2,500,000
Amount financed:
-$2,000,000
Down payment:
$500,000
Closing costs:
$75,000
Rehab costs:
$0
Initial cash invested:
$575,000
Square feet:
2,245
Cost per square foot:
$1,114
Monthly rent per square foot:
$1.96

Financing Details

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Loan amount:
$2,000,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$13,092
Property tax:
$958
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$14,358

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (22%)
22%-$958-$11,491
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (47%)
47%-$2,058-$24,691

Cash Flow


Monthly Yearly
Net operating income:
$2,078 $24,936
Mortgage payments:
-$13,092 -$157,104
Cash flow:
$11,014 $132,168