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$68,000

For Sale - Active
721 Lori Dr Apt 303, Palm Springs, FL 33461
1 Bed
1 Bath
705 Square Feet
0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Sep 22, 2025 at 10:13AM

Investment Summary


Monthly Cash Flow
$136
Cap Rate
2.4%
Cash-on-Cash Return
2.3%
Debt Coverage Ratio
n/a
Internal Rate of Return (5 years)
6.3%

Property Description


0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a

Turn-Key 1/1 Condo with Lake Views - Lakeside Village 55+ Fully furnished 3rd-floor unit with stunning lake views, close to elevator & stairs. Impeccably maintained with a newer HVAC--just move right in!Enjoy resort-style amenities: 2 heated pools, fitness center, billiards, mini-golf, theater, and a community park with walking track & outdoor exercise equipment.Prime location minutes from JFK Medical Center, PBI Airport, beaches, golf, shopping & Brightline/Tri-Rail. Leasing permitted after 2 years.

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Location


Property Details


Parking

  • Description: Assigned
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

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

Interior Features

  • # of Stories: 3

Exterior Features

  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $700/monthly

Land Information

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

Lot Information

  • Parcel ID: 70434418200013030
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1973

Tax Information

  • Annual Tax: $1,557

Utilities

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

Location

  • County: Palm Beach

Listing Details


Listed by:
Myrna Santiago-Mendoza
RE/MAX Prestige Realty/Wellington
(561) 360-7256

Source:
BeachesMLS
MLS#: R11115938
BeachesMLS

Investment Summary


Monthly Cash Flow
$136
Cap Rate
2.4%
Cash-on-Cash Return
2.3%
Debt Coverage Ratio
n/a
Internal Rate of Return (5 years)
6.3%

Purchase Details

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Purchase price:
$68,000
Amount financed:
$0
Down payment:
$68,000
Closing costs:
$2,040
Rehab costs:
$0
Initial cash invested:
$70,040
Square feet:
705
Cost per square foot:
$96
Monthly rent per square foot:
$1.99

Financing Details

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Loan amount:
$0

Financing is not included in this analysis because the purchase price is under $75,000. Most lenders have minimum loan amounts and typically do not provide financing for properties below this threshold. However, if you’d like to include financing, you can customize the value through the Customize Inputs tab.

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$130-$1,557
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (50%)
50%-$700-$8,400
Total operating expenses: (84%)
84%-$1,180-$14,157

Cash Flow


Monthly Yearly
Net operating income:
$136 $1,632
Mortgage payments:
$0 $0
Cash flow:
$136 $1,632