Cascades 55+ • Paid-off Solar Panels • Savings on electric bills •
Roof 2020 • Expanded Augusta model • Bonus hobby room
Paid-off solar panels are the standout advantage at 11583
Ballylee Ter, helping reduce electric costs while adding long-term
value in Boynton Beach's gated Cascades 55+ community. This
3-bedroom, 2-bath expanded Augusta model offers 1,768 sq ft with a
true third bedroom with closet, diagonal tile throughout, high
ceilings, arched openings, and ceiling fans in every room. The
expanded Florida room adds a bright bonus space that works well as
a hobby room, reading area, craft space, or extra everyday living
area, with additional storage nearby. The updated kitchen keeps the
home fresh and functional with white cabinetry, quartz countertops,
stainless steel appliances, tile backsplash, and an eat-in area
connected to the main living spaces. A mirrored dining wall adds
depth and light, while the living room TV and speakers convey. The
second bath has been redone with an updated shower, frameless glass
enclosure, vanity, and toilet, and the primary bath includes newer
vanities and a newer toilet. The paid-off 2021 Vinyasun solar
system includes 18 solar panels and 2 Tesla batteries with a
20-year warranty, helping offset electric use and create savings on
electric bills. Additional updates include a 2020 roof with added
seam tape, Lennox 4-ton AC with variable frequency drive, ozone
lamps, newer coils, 2026 motor, added attic insulation, updated
smoke alarms, full gutters, 2022 paver driveway, 2026 garage door
springs, and recently pressure-washed roof and pavers. Cascades
offers a renovated clubhouse, resort-style pool and spa, fitness
center, tennis, pickleball, cafe, card rooms, clubs, activities,
manned gate entry, lawn care, exterior painting, cable, high-speed
internet, and Westchester Golf Course next door with no mandatory
membership.
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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