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$579,999

For Sale - Active
2601 Marina Isle Way Apt 202, Jupiter, FL 33477
3 Beds
2 Baths
1,385 Square Feet
0.00 Acres Lot
Built in 1986
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: May 11, 2025 at 03:17AM

Investment Summary


Monthly Cash Flow
-$81
Cap Rate
6.1%
Cash-on-Cash Return
-0.7%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.3%

Property Description


0.00 Acres Lot
Built in 1986
For Sale - Active
Units n/a

This condo is the epitome of beautiful Florida living. On the water, where you can look at beautiful yachts, in a beautiful community with excellent amenities. This condo has been immaculately kept. Originally a 2/2 the third bedroom, seen in the photos with custom bunk beds, is a very innovative design for this extra area in the unit. Located steps away from all that Jupiter has to offer.The best beaches, restaurants and entertainment. A/C 2023 Refrigerator 2023. Building is up to code and has passed it's 'Milestone safety inspection'. No special assessments on schedule. ALL has been done and paid for. New roofs, elevators, you name it! The sea wall to the Marina is anticpated to be completed by Summer 2024. Seller open to giving money towards closing costs.

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Location


Property Details


Parking

  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Stories: 1

Exterior Features

  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $670/monthly

Land Information

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

Lot Information

  • Parcel ID: 30434120110262020
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1986

Tax Information

  • Annual Tax: $4,317

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Ashley Vance
Paradise Real Estate Intl
(646) 265-6412

Source:
BeachesMLS
MLS#: R11056066
BeachesMLS

Investment Summary


Monthly Cash Flow
-$81
Cap Rate
6.1%
Cash-on-Cash Return
-0.7%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.3%

Purchase Details

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Purchase price:
$579,999
Amount financed:
-$463,999
Down payment:
$116,000
Closing costs:
$17,400
Rehab costs:
$0
Initial cash invested:
$133,400
Square feet:
1,385
Cost per square foot:
$419
Monthly rent per square foot:
$4.19

Financing Details

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Loan amount:
$463,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$3,053
Property tax:
$360
Insurance:
$406
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,819

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,800 $69,600
Vacancy loss: (6%)
6% -$348 -$4,176
Operating income:
$5,452 $65,424

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$360-$4,317
Insurance: (7%)
7%-$406-$4,872
Property management: (8%)
8%-$464-$5,568
Repairs & maintenance: (5%)
5%-$290-$3,480
Capital expenditures: (5%)
5%-$290-$3,480
HOA fees: (12%)
12%-$670-$8,040
Total operating expenses: (43%)
43%-$2,480-$29,757

Cash Flow


Monthly Yearly
Net operating income:
$2,972 $35,664
Mortgage payments:
-$3,053 -$36,636
Cash flow:
$81 $972