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$378,250

Sold
569 Venetian Palms Blvd, New Smyrna Beach, FL 32168
2 Beds
2 Baths
1,275 Square Feet
0.00 Acres Lot
Built in 2023
Sold
Units n/a
Checked: 23 hours ago
Updated: Sep 29, 2025 at 11:33PM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$375
Cap Rate
5.0%
Cash-on-Cash Return
-5.2%
Debt Coverage Ratio
0.81
Internal Rate of Return (5 years)
-1.0%

Property Description


0.00 Acres Lot
Built in 2023
Sold
Units n/a

Why buy used, when you can own this brand new Johnson Built Key West style cottage series single family homes? Built of concrete block all the way up, offering a ton of standard features that are upgrades to many other local builders. Located in the Coastal Cottage section of The Palms within Venetian Bay. Well known top of the line golf course, offering many amenities within walking distance such as; resort style pool, 24 hour gym, small grocery store, 5 star full service spa, 3 delicious restaurants and so much more! All information is intended to be accurate but is not guaranteed. ;Water: City

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 3
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Hip
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • Association: Evergreen Lifestyles Management
  • HOA Fee: $800/annually
  • Additional HOA Fee: $95/monthly

Land Information

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

Lot Information

  • Parcel ID: 731707005640
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 2023

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: See Remarks
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Volusia

Listing Details


Listed by:
Carl Vasile
EXIT REAL ESTATE PROPERTY SOL
(386) 527-5357

Source:
Stellar MLS
MLS#: NS1074871
Stellar MLS

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$375
Cap Rate
5.0%
Cash-on-Cash Return
-5.2%
Debt Coverage Ratio
0.81
Internal Rate of Return (5 years)
-1.0%

Purchase Details

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Purchase price:
$378,250
Amount financed:
-$302,600
Down payment:
$75,650
Closing costs:
$11,348
Rehab costs:
$0
Initial cash invested:
$86,998
Square feet:
1,275
Cost per square foot:
$297
Monthly rent per square foot:
$1.96

Financing Details

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Loan amount:
$302,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,938
Property tax:
$0
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,113

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: (n/a)
n/an/an/a
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: (6%)
6%-$162-$1,944
Total operating expenses: (31%)
31%-$787-$9,444

Cash Flow


Monthly Yearly
Net operating income:
$1,563 $18,756
Mortgage payments:
-$1,938 -$23,256
Cash flow:
-$375 -$4,500