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$374,000

Sale Pending
456 Bouchelle Dr Apt 104, New Smyrna Beach, FL 32169
2 Beds
2 Baths
1,120 Square Feet
0.20 Acres Lot
Built in 1989
Sale Pending
1 Units
Checked: 1 day ago
Updated: Jul 18, 2025 at 08:00AM

Investment Summary


Monthly Cash Flow
-$886
Cap Rate
3.3%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.54
Internal Rate of Return (5 years)
-8.0%

Property Description


0.20 Acres Lot
Built in 1989
Sale Pending
1 Units

Under contract-accepting backup offers. Direct Intracoastal Waterfront. This beautiful 2/2 condo home has an enclosed lanai/porch overlooking the Intracoastal Waterway. Use your ground level patio door to conveniently walk your dog. This gorgeous condo home has storm shutters and a tiled floor sunporch. Renovated master bath with a decorator tile shower. Updated guest bath. This is an Intracoastal waterfront community with a private boat ramp. 2 pools, tennis, golf, clubhouse, exercise facility, boat storage, a riverwalk, boat slips (on wait list), and much more. Water heater year 2024, A/C year 2020-2021, floors year 2023-2024. Walk or bike ride to the beach.

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Location


Property Details


Parking

  • Description: On Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 6
  • # of Stories: 3

Exterior Features

  • Foundation: Slab
  • Roof Material: Metal

HOA

  • Has HOA: Yes
  • Association: Bouchelle Island
  • HOA Fee: $655/quarterly

Land Information

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

Lot Information

  • Parcel ID: 741715111040
  • Lot Size: 8814 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1989

Tax Information

  • Annual Tax: $5,726

Utilities

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

Location

  • County: Volusia

Listing Details


Listed by:
Pat Collado
COLLADO REAL ESTATE
(386) 427-0002

Source:
Stellar MLS
MLS#: NS1084237
Stellar MLS

Investment Summary


Monthly Cash Flow
-$886
Cap Rate
3.3%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.54
Internal Rate of Return (5 years)
-8.0%

Purchase Details

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Purchase price:
$374,000
Amount financed:
-$299,200
Down payment:
$74,800
Closing costs:
$11,220
Rehab costs:
$0
Initial cash invested:
$86,020
Square feet:
1,120
Cost per square foot:
$334
Monthly rent per square foot:
$2.23

Financing Details

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Loan amount:
$299,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,916
Property tax:
$477
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,568

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: (19%)
19%-$477-$5,726
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: (9%)
9%-$218-$2,616
Total operating expenses: (53%)
53%-$1,320-$15,842

Cash Flow


Monthly Yearly
Net operating income:
$1,030 $12,360
Mortgage payments:
-$1,916 -$22,992
Cash flow:
$886 $10,632