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$299,000

Under Contract
350 Oaks Ln Apt 222, Pompano Beach, FL 33069
3 Beds
2 Baths
1,444 Square Feet
0.00 Acres Lot
Built in 1974
Under Contract
Units n/a
Checked: 8 hours ago
Updated: Sep 13, 2025 at 10:20AM

Investment Summary


Monthly Cash Flow
-$1,175
Cap Rate
1.4%
Cash-on-Cash Return
-20.5%
Debt Coverage Ratio
0.23
Internal Rate of Return (5 years)
-15.8%

Property Description


0.00 Acres Lot
Built in 1974
Under Contract
Units n/a

Beautifully updated 3-bed, 2-bath condo in the sought-after Oaks Lane community! This bright corner unit offers an open floor plan, modern kitchen with stainless steel appliances, and a spacious living/dining area leading to a screened balcony with serene golf course views. The large primary suite features a walk-in closet and updated bath. Enjoy in-unit laundry, assigned parking, and resort-style amenities including pool, clubhouse, and walking paths. Conveniently located near shopping, dining, and major highways. Move-in ready!

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Location


Property Details


Parking

  • Details: Assigned, Guest
  • 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: 2

HOA

  • Has HOA: Yes
  • HOA Fee: $983/monthly

Land Information

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

Lot Information

  • Parcel ID: 494204GJ0440
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1974

Tax Information

  • Annual Tax: $5,442

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Broward

Listing Details


Listed by:
Joseph Paquet Lamothe
The Keyes Company
(754) 204-0351

Source:
MIAMI REALTORS MLS
MLS#: A11856685
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$1,175
Cap Rate
1.4%
Cash-on-Cash Return
-20.5%
Debt Coverage Ratio
0.23
Internal Rate of Return (5 years)
-15.8%

Purchase Details

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Purchase price:
$299,000
Amount financed:
-$239,200
Down payment:
$59,800
Closing costs:
$8,970
Rehab costs:
$0
Initial cash invested:
$68,770
Square feet:
1,444
Cost per square foot:
$207
Monthly rent per square foot:
$1.80

Financing Details

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Loan amount:
$239,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,532
Property tax:
$454
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,168

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$454-$5,442
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (38%)
38%-$983-$11,796
Total operating expenses: (80%)
80%-$2,087-$25,038

Cash Flow


Monthly Yearly
Net operating income:
$357 $4,284
Mortgage payments:
-$1,532 -$18,384
Cash flow:
-$1,175 -$14,100