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405 US Highway 1 Apt 307, North Palm Beach, FL 33408, US
Copied

$238,900
BiggerPockets estimate

Off Market
405 US Highway 1 Apt 307, North Palm Beach, FL 33408
2 Beds
2 Baths
886 Square Feet
Lot n/a
Built in 1968
Off Market
Units n/a
Checked: 5 months ago
Updated: May 27, 2025 at 03:55PM

Investment Summary


Monthly Cash Flow
-$877
Cap Rate
1.7%
Cash-on-Cash Return
-19.2%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-14.5%

Property Description


Lot n/a
Built in 1968
Off Market
Units n/a

This property is not currently listed for sale or rent on BiggerPockets. The details below may have been provided by the owner, a third party, or public records.

Located at 405 US Highway 1 Apt 307, North Palm Beach, FL (ZIP code 33408) this condominium features 2 bedrooms, 2 bathrooms and approximately 886 square feet of living space. The property was built in 1968.

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Location


Property Details


Parking

  • Description: Assigned
  • Garage Spaces: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 3

Exterior Features

  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $750/monthly

Land Information

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

Lot Information

  • Parcel ID: 68434216110000230

Property Information

  • Property Type: Condominium
  • Year Built: 1968

Tax Information

  • Annual Tax: $3,391

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Palm Beach

Investment Summary


Monthly Cash Flow
-$877
Cap Rate
1.7%
Cash-on-Cash Return
-19.2%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-14.5%

Purchase Details

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Purchase price:
$238,900
Amount financed:
-$191,120
Down payment:
$47,780
Closing costs:
$7,167
Rehab costs:
$0
Initial cash invested:
$54,947
Square feet:
886
Cost per square foot:
$270
Monthly rent per square foot:
$2.26

Financing Details

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Loan amount:
$191,120
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,224
Property tax:
$283
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,647

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$283-$3,392
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (38%)
38%-$750-$9,000
Total operating expenses: (77%)
77%-$1,533-$18,392

Cash Flow


Monthly Yearly
Net operating income:
$347 $4,164
Mortgage payments:
-$1,224 -$14,688
Cash flow:
$877 $10,524