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$400,000

For Sale - Active
2502 NW 66th Dr, Boca Raton, FL 33496
3 Beds
3 Baths
2,219 Square Feet
0.11 Acres Lot
Built in 1991
For Sale - Active
Units n/a
Checked: 24 hours ago
Updated: Jul 11, 2025 at 03:15AM

Investment Summary


Monthly Cash Flow
-$69
Cap Rate
5.9%
Cash-on-Cash Return
-0.9%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.1%

Property Description


0.11 Acres Lot
Built in 1991
For Sale - Active
Units n/a

This is located in a mandatory country club and fees are required. This is the deal you've been waiting for! Priced below market value, this two-story, 3-bedroom, 2-bathroom home in Banyans of Broken Sound offers 2,219 a/c sf and is ready for you to renovate, customize, and build equity. The home features a private split primary bedroom layout and is located in a gated community. You will appreciate the nearby highly-rated schools, including Calusa Elementary, Omni Middle, and Spanish River High. Enjoy the best of Boca Raton living with easy access to beaches, Town Center Mall, dining, and entertainment. Broken Sound Country Club membership provides access to premier amenities like golf, tennis, spa, dining, and more.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Driveway, Garage, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Wood Truss
  • Roof Material: Spanish Tile, Tile
  • Pool: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $604/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Zero Lot Line

Lot Information

  • Parcel ID: 06424702210000720
  • Lot Size: 4996 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Mediterranean
  • Year Built: 1991

Tax Information

  • Annual Tax: $2,117

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Lisa Treu
Treu Group Real Estate
(561) 350-7883

Source:
BeachesMLS
MLS#: R11073932
BeachesMLS

Investment Summary


Monthly Cash Flow
-$69
Cap Rate
5.9%
Cash-on-Cash Return
-0.9%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.1%

Purchase Details

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Purchase price:
$400,000
Amount financed:
-$320,000
Down payment:
$80,000
Closing costs:
$12,000
Rehab costs:
$0
Initial cash invested:
$92,000
Square feet:
2,219
Cost per square foot:
$180
Monthly rent per square foot:
$1.80

Financing Details

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Loan amount:
$320,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,049
Property tax:
$176
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,505

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$176-$2,117
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (15%)
15%-$604-$7,248
Total operating expenses: (45%)
45%-$1,780-$21,365

Cash Flow


Monthly Yearly
Net operating income:
$1,980 $23,760
Mortgage payments:
-$2,049 -$24,588
Cash flow:
$69 $828