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$175,000

For Sale - Active
639 Executive Center Dr Unit O-204, West Palm Beach, FL 33401
1 Bed
1 Bath
627 Square Feet
0.00 Acres Lot
Built in 1984
For Sale - Active
Units n/a
Checked: 20 hours ago
Updated: Aug 19, 2025 at 11:10AM

Investment Summary


Monthly Cash Flow
-$417
Cap Rate
3.3%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.0%

Property Description


0.00 Acres Lot
Built in 1984
For Sale - Active
Units n/a

WHETHER AN INVESTOR OR PRIMARY BUYER, THIS 1/1 CONDO IS CERTAINLY A PLACE SOMEONE CAN CALL HOME. ENJOY YOUR OWN PRIVATE FENCED COURTYARD WITH STAIRS ON THE 1ST FLOOR, YOUR 12' X 8' BALCONY & UNIT ON 2nd FLOOR. STEP INSIDE TO THE OPEN FLOORPLAN WITH COMBO LIVING/DINING/KITCHEN ALL IN 1 ROOM, PLUS YOUR FULL SIZE WASHER/DRYER IS BEHIND BI-FOLD DOORS. LOVE THE BREAKFAST BAR, GRANITE COUNTER TOPS, NEWER KITCHEN WITH WHITE SHAKER STYLE CABINETS, WHITE APPLIANCES, LAMINATE FLOORING THROUGHOUT & FRENCE DOORS LEADING TO BEDROOM. ENJOY THE SPACIOUS 14' X 14' BEDROOM WITH MIRRORED SLIDING GLASS DOORS TO CLOSET. BATHROOM FEATURES A ROMAN TUB, VERY LARGE TO RELAX IN!! ROOF REPLACED 2024. NO ASSESSMENTS! COME ENJOY THE POOL, CENTRALLY LOCATED TO MALL, SHOPS, CITY PLACE & MORE.

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Location


Property Details


Parking

  • Description: Assigned, Guest
  • Details: Assigned, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Roof Material: Composition
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $464/monthly

Land Information

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

Lot Information

  • Parcel ID: 74434320030150020
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1984

Tax Information

  • Annual Tax: $1,936

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Betty Wickersham
The Rental Authority Corp.
(561) 255-2550

Source:
BeachesMLS
MLS#: R11116623
BeachesMLS

Investment Summary


Monthly Cash Flow
-$417
Cap Rate
3.3%
Cash-on-Cash Return
-12.4%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.0%

Purchase Details

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Purchase price:
$175,000
Amount financed:
-$140,000
Down payment:
$35,000
Closing costs:
$5,250
Rehab costs:
$0
Initial cash invested:
$40,250
Square feet:
627
Cost per square foot:
$279
Monthly rent per square foot:
$2.55

Financing Details

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Loan amount:
$140,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$896
Property tax:
$161
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,169

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$161-$1,936
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (29%)
29%-$464-$5,568
Total operating expenses: (64%)
64%-$1,025-$12,304

Cash Flow


Monthly Yearly
Net operating income:
$479 $5,748
Mortgage payments:
-$896 -$10,752
Cash flow:
$417 $5,004