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$375,000

For Sale - Active
3200 Port Royale Dr N Apt 2004, Fort Lauderdale, FL 33308
1 Bed
2 Baths
1,023 Square Feet
0.00 Acres Lot
Built in 1981
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: Oct 04, 2025 at 10:25AM

Investment Summary


Monthly Cash Flow
-$1,520
Cap Rate
1.3%
Cash-on-Cash Return
-21.1%
Debt Coverage Ratio
0.21
Internal Rate of Return (5 years)
-16.4%

Property Description


0.00 Acres Lot
Built in 1981
For Sale - Active
Units n/a

Seller will contribute for buydown *rates 2% below market with Preferred Lender. Unobstructed INTRACOASTAL and OCEAN VIEWS from every room and the balcony. Fully remodeled unit including flooring, kitchen, baths, all appliances & new I impact windows & doors . Oversized bedroom with spectacular views, spacious bathroom, &large walk-in closets. Washer and dryer in the unit. 24hr security, assigned indoor parking space, plenty of additional parking, heated pool, tennis courts, gym, library/card room, social room, and grills under an ample gazebo overlooking marina. Wi-Fi, Cable, A/C filters, water included. 40yr inspection completed. All assessments have been paid in full. Lobby has been remodeled, new roof and hurricane impact windows completed in 2024.

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Location


Property Details


Parking

  • Details: Assigned, Covered
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 21

HOA

  • Has HOA: Yes
  • HOA Fee: $2,123/quarterly

Land Information

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

Lot Information

  • Parcel ID: 494307BM2100
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1981

Tax Information

  • Annual Tax: $7,390

Utilities

  • Heating: Electric
  • Cooling: Electric

Location

  • County: Broward

Listing Details


Listed by:
Maritza Gaitan
Las Olas R E Professionals
(305) 785-5692

Source:
BeachesMLS
MLS#: F10490224
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,520
Cap Rate
1.3%
Cash-on-Cash Return
-21.1%
Debt Coverage Ratio
0.21
Internal Rate of Return (5 years)
-16.4%

Purchase Details

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Purchase price:
$375,000
Amount financed:
-$300,000
Down payment:
$75,000
Closing costs:
$11,250
Rehab costs:
$0
Initial cash invested:
$86,250
Square feet:
1,023
Cost per square foot:
$367
Monthly rent per square foot:
$2.44

Financing Details

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Loan amount:
$300,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,921
Property tax:
$616
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,712

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (25%)
25%-$616-$7,390
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (28%)
28%-$708-$8,496
Total operating expenses: (78%)
78%-$1,949-$23,386

Cash Flow


Monthly Yearly
Net operating income:
$401 $4,812
Mortgage payments:
-$1,921 -$23,052
Cash flow:
-$1,520 -$18,240