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$849,000

For Sale - Active
396 Kelsey Park Dr, Palm Beach Gardens, FL 33410
3 Beds
3 Baths
2,024 Square Feet
0.21 Acres Lot
Built in 1994
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jun 09, 2025 at 03:03AM

Investment Summary


Monthly Cash Flow
-$2,048
Cap Rate
3.3%
Cash-on-Cash Return
-12.6%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.2%

Property Description


0.21 Acres Lot
Built in 1994
For Sale - Active
Units n/a

Very Palm Beachy! Loaded with magnificent custom features including a NO EXPENSE SPAIRED Renovation w/Updated Bathrooms & Kitchen, Top-o-line Cabinetry (full extension, dove tail, undermount slides, & soft close doors & Drawers),scrumptious quartzite countertops, Black SS Appliances, Plantation Shutters, Wood-Look Tile Flooring in a classic Herringbone pattern w/wide base floor moldings, volume ceilings w/X-TRA Wide Crown Molding, all 1-floor of living(NO STAIRS), Divosta's signature 'Built Solid' Poured Concrete Contruction all on a Premium Property Lot w/X-tra Large Side Yard, spectacular Lake & lush open greenspace views. Largest Model available, plus spacious covered & screened back patio + extra side patio.All gr8 4 entertaining inside or alfresco dining outside. A Total Must C!

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Location


Property Details


Parking

  • Description: Attached, 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 (Total): 3.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Wood Truss
  • Roof Material: Barrel, Concrete
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $387/monthly

Land Information

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

Lot Information

  • Parcel ID: 52434207370003700
  • Lot Size: 9195 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1994

Tax Information

  • Annual Tax: $4,180

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Jill Wilcox-Fesl
Sandpiper Realty, Inc
(561) 308-5069

Source:
BeachesMLS
MLS#: R11071762
BeachesMLS

Investment Summary


Monthly Cash Flow
-$2,048
Cap Rate
3.3%
Cash-on-Cash Return
-12.6%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.2%

Purchase Details

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Purchase price:
$849,000
Amount financed:
-$679,200
Down payment:
$169,800
Closing costs:
$25,470
Rehab costs:
$0
Initial cash invested:
$195,270
Square feet:
2,024
Cost per square foot:
$419
Monthly rent per square foot:
$2.17

Financing Details

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Loan amount:
$679,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,349
Property tax:
$348
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,005

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$348-$4,180
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (9%)
9%-$387-$4,644
Total operating expenses: (42%)
42%-$1,835-$22,024

Cash Flow


Monthly Yearly
Net operating income:
$2,301 $27,612
Mortgage payments:
-$4,349 -$52,188
Cash flow:
$2,048 $24,576