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3218 Palm Drive
About This Property
Pet friendly, community along the Intracoastal Waterway has only 1 entry into the neighborhood & no drive-through traffic. Less than 3 miles north of Atlantic Ave & the beach.
GREAT RENTAL INCOME POTENTIAL! The property is located in a small Unincorporated Palm beach Pocket of Delray Beach, all types of rentals are possible. Great for weekly, monthly seasonal & annual rental income.
The home has been configured for you to reside in the main house, rent the 2 units with separate entrances for $60K annual revenue, or use as guest suite or live-in help or home office. The community has public water & sewer, a voluntary homeowner's association maintains fee of voluntary $120/year donation to help maintain the front entrance.
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What does this mean?
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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 5, 2026 | Sold | ||
| Sold | |||
| Mar 4, 2026 | In contract | - | |
| In contract | |||
| Feb 20, 2026 | Listed by EXP Realty LLC | $1,000,000 | |
| Listed by EXP Realty LLC | |||
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GREAT RENTAL INCOME POTENTIAL! This fully-furnished 3-bedroom, 3-bath home with a private pool and hot tub was configured as a pet -friendly vacation rental with strong short-term rental history The new owner can reside in the main house, and rent the other two units with separate entrances for rental income, or use them as guest suites, live-in help, or home offices.
The roof was replaced in 2021 with new solar panels to reduce the cost of electricity. With only one entrance, the neighborhood enjoys minimal traffic, a private feel, and a strong sense of community, while remaining just 2.5 miles Delray Beach's award-winning dining, beaches, shopping, and nightlife along Atlantic Ave. Easy access to Boca Raton, Palm Beach, Brightline high-speed train stations and FLL and PBi airports. Tradewinds Estates is one of East Delray Beach's most sought-after Intracoastal neighborhoods, where quiet coastal living meets exceptional long-term upside. 3218 Palm Drive offers a rare hybrid opportunity: enjoy the home now, generate rental income immediately, or plan a future luxury dream home.
This single-story home has strong short-term rental history located in unincorporated Palm Beach County that offers advantages rarely found this close to the water. No mandatory HOA fees or rules, No rental restrictions (Airbnb/short-term friendly), Builder-friendly county codes (not subject to city restrictions), County-only property taxes and public water & sewer.
Whether you are a homeowner seeking coastal living, an investor looking for immediate rental income, or a buyer planning to build a future luxury estate in a proven appreciation corridor, 3218 Palm Drive delivers flexibility, lifestyle, and upside in one of the fastest-evolving neighborhoods in East Delray Beach.
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| Oct 18, 2021 | Sold | ||
| Sold | |||
| Mar 22, 2021 | Sold | ||
| Sold | |||
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About Trade Winds Estates South
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017