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$650,000

For Sale - Active
347 N New River Dr E Apt 1205, Fort Lauderdale, FL 33301
2 Beds
2 Baths
1,080 Square Feet
0.00 Acres Lot
Built in 2004
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Sep 20, 2025 at 10:03AM

Investment Summary


Monthly Cash Flow
-$2,283
Cap Rate
1.9%
Cash-on-Cash Return
-18.3%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-13.7%

Property Description


0.00 Acres Lot
Built in 2004
For Sale - Active
Units n/a

Perfect and in mint condition! Fully renovated and furnished Skyview condo in popular Watergarden. This property was only used on the weekends. Some appliances have never been used! New kitchen cabinets/granite countertop with waterfall/appliances, floors thru out, bathroom cabinets/granite counter tops, A/C, window treatments and furniture purchased in 2023. Watergarden provides walkable urban lifestyle on the dynamic New River/celebrated Riverwalk and steps away from famous Las Olas Blvd. Building features 24 hr valet and front desk. Award winning amenities from ground floor owners lounge with river view. Tropical pool deck with summer kitchens, fitness center with sauna, business center, party rooms, theater and library. The best riverfront location providing luxury lifestyle!

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Location


Property Details


Parking

  • Description: Assigned, Attached, Garage, OneSpace, Valet
  • Details: Assigned, Attached, Covered, Garage, Valet
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 0
  • # of Stories: 32

Exterior Features

  • Pool: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $1,200/monthly

Land Information

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

Lot Information

  • Parcel ID: 504210AG1040
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise
  • Year Built: 2004

Tax Information

  • Annual Tax: $10,296

Utilities

  • Heating: Electric
  • Cooling: Electric

Location

  • County: Broward

Listing Details


Listed by:
Bobbi Ocean
Compass Florida, LLC
(954) 684-1793

Source:
MIAMI REALTORS MLS
MLS#: A11813689
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$2,283
Cap Rate
1.9%
Cash-on-Cash Return
-18.3%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-13.7%

Purchase Details

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Purchase price:
$650,000
Amount financed:
-$520,000
Down payment:
$130,000
Closing costs:
$19,500
Rehab costs:
$0
Initial cash invested:
$149,500
Square feet:
1,080
Cost per square foot:
$602
Monthly rent per square foot:
$4.17

Financing Details

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Loan amount:
$520,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,330
Property tax:
$858
Insurance:
$315
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,503

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,500 $54,000
Vacancy loss: (6%)
6% -$270 -$3,240
Operating income:
$4,230 $50,760

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$858-$10,296
Insurance: (7%)
7%-$315-$3,780
Property management: (8%)
8%-$360-$4,320
Repairs & maintenance: (5%)
5%-$225-$2,700
Capital expenditures: (5%)
5%-$225-$2,700
HOA fees: (27%)
27%-$1,200-$14,400
Total operating expenses: (71%)
71%-$3,183-$38,196

Cash Flow


Monthly Yearly
Net operating income:
$1,047 $12,564
Mortgage payments:
-$3,330 -$39,960
Cash flow:
-$2,283 -$27,396