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$699,900

For Sale - Active
5625 Aspen Ridge Cir, Delray Beach, FL 33484
3 Beds
2 Baths
1,637 Square Feet
0.18 Acres Lot
Built in 1992
For Sale - Active
Units n/a
Checked: 24 hours ago
Updated: May 28, 2025 at 03:24AM

Investment Summary


Monthly Cash Flow
-$1,332
Cap Rate
4.0%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.6%

Property Description


0.18 Acres Lot
Built in 1992
For Sale - Active
Units n/a

You'll delight in being able to move right into this fully renovated lake front home!! New in 2024: New kitchen w/Cambria quartz counters,white cabinetry, stainless LG appliances, New baths, New tile flooring, New AC, New LG washer/dryer, New fans & light fixtures,New paint and baseboards. Enter into a bright, open floor plan w/sliders all along the rear that showcase stunning serene lake views and Newly diamond brighted pool w/ New filter. Community ammenties include tennis, pool, community room and security. Aspen Ridge is a hidden gem in mid Delray: a quiet secluded neighborhood yet conveniently located just off Atlantic Ave allowing easy access to shops, restaurants, both 95 and the turnpike, Head a few minutes east on Atlantic Ave for the beach & all that downtown Delray has to offer

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Driveway, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable or Hip
  • Roof Material: Spanish Tile, Tile
  • Pool: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $435/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 00424614170000720
  • Lot Size: 7875 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1992

Tax Information

  • Annual Tax: $3,214

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Ceiling Fan(s), Electric

Location

  • County: Palm Beach

Listing Details


Listed by:
Mary Cocores
Champagne & Parisi Real Estate
(561) 386-7868

Source:
BeachesMLS
MLS#: R11032342
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,332
Cap Rate
4.0%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.6%

Purchase Details

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Purchase price:
$699,900
Amount financed:
-$559,920
Down payment:
$139,980
Closing costs:
$20,997
Rehab costs:
$0
Initial cash invested:
$160,977
Square feet:
1,637
Cost per square foot:
$428
Monthly rent per square foot:
$2.69

Financing Details

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Loan amount:
$559,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$3,665
Property tax:
$268
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,241

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: (6%)
6%-$268-$3,214
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: (10%)
10%-$435-$5,220
Total operating expenses: (41%)
41%-$1,803-$21,634

Cash Flow


Monthly Yearly
Net operating income:
$2,333 $27,996
Mortgage payments:
-$3,665 -$43,980
Cash flow:
$1,332 $15,984