Enjoy peaceful lakefront living in this beautifully maintained,
detached 2-bedroom, 2-bath home in Delray Villas Plat 1. Situated
on a pie-shaped lot, this inviting residence offers 1,266 square
feet of living space, 18-inch ceramic tile throughout, granite
kitchen countertops, and a one-car garage. A screened patio
overlooking the serene lake provides the perfect setting to relax
and enjoy the Florida lifestyle. Notable improvements include a
newer roof (2019), A/C and water heater (2019), recently replaced
A/C ductwork, and a recently resealed flat roof. Residents enjoy an
active 55+ community with clubhouse, pools, tennis, and other
recreational amenities. HOA fees of $343 include cable TV.
Conveniently located near shopping, dining, and everyday
essentials, with downtown Delray Beach's vibrant Atlantic Avenue
and beautiful beaches just a short drive away. An excellent
opportunity for affordable waterfront living in Delray Beach.
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.
Appliances: Dryer, Dishwasher, Electric Range, Electric Water Heater, Freezer, Disposal, Ice Maker, Microwave, Range, Refrigerator, Water Heater, Washer
Flooring Type: Ceramic Tile, Tile
Laundry Features: In Garage
Rooms: 6
Exterior Details
Square Footage: 1266
Square Footage Source: $0
Security Features: Security System Owned, Smoke Detector(s)
Property Condition: Resale
Architectural Style: Ranch
Year Built: 1982
Waterfront Features: Lake Front, None
Building Area Total: 1750
Levels: One
Window Features: Blinds
Construction Materials: Block, Stucco, CBSConcreteBlockStructure
Patio and Porch Features: Patio, Screened
Pool Features: Association
Lot Features: LessThanQuarterAcre
Lot Size Area: 5662.8
Lot Size Units: Square Feet
Lot Size Acres: 0.13
Lot Size Square Feet: 5662.8
Water Source: Public
Financial Details
Tax Assessed Value: $136,705
Tax Annual Amount: $1,967
Utilities Details
Cooling Type: Central Air, Ceiling Fan(s), Electric
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