18523 Ocean Mist Drive
About This Property
**Both interior and exterior of home totally re-painted with
attractive contemporary color scheme. This also included
painting the window frames and the fencing.
**All windows were tinted for added privacy.
**Outdoor fixtures replaced with elegant LIVEX Lighting fixtures
NOTE: 4th bedroom currently set up as a den/office
Cost of some of the major improvements made by sellers:
**Cali Bamboo hardwood floors & baseboards - $19,500
**PGT French Doors in Master bedroom, living room & family
room - $21,000
**Remodel kitchen - $17,300
**New custom designed IMPACT front entrance Double Door -
$8,200
**Other interior improvements including painting, window
treatments, dining room remodeling - $13,800
**Outdoor awnings & new landscaping - $9,600
**Two new air conditioning units installed in 2018 - $9,300
SHORES HOA INFORMATION:
** Walk to A-RATED Sunrise Park Elementary and Eagles Landing Middle Schools. Check out all the special ACADEMIES at A-Rated Olympic Heights High School.
**The Shores at Boca Raton is a guard-gated community w/clubhouse, state-of-the-art fitness center, heated pool & spa, basketball court, children's playroom and recently expanded tot lot w/covered play area. Lots of tennis players in the Shores enjoy the four courts. The 860 acre Burt Aaronson South County Regional Park is across from entrance to the community and has amphitheater, nature center, water park, lighted athletic fields, boat launch, dog parks and countless trails to walk and bike. Shores golfers enjoy the nearby Osprey Point 27 Hole Golf Course. The Shores HOA is fiscally prudent with reserves and an excellent balance sheet.
**At closing, Buyers make a one-time Capital Contribution to the HOA reserves equal to one-quarter's maintenance ($818).
There is a $750 special assessment with 3 quarterly payments of $187.50 remaining (total balance = $562.50). Payments will be due on July 1, 2019; Oct 1, 2019 and Jan 1, 2020.
**The Shores HOA permits renting in the first year of ownership for a minimum of 365 days and it permits residents to have a maximum of two pets (any size).
* All Shores Buyers must put down a minimum of 10% if they are obtaining financing.
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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%.
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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.
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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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About Shores at Boca Raton
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017