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514 Enfield Road
About This Property
Unveil the potential of this stunning 3-bedroom, 2-bathroom single-family home, paired with a newly constructed 2-bedroom, 1-bathroom cottage, all situated in the highly desirable Lake Ida community of East Delray Beach! This beautifully updated main residence features refined finishes, vaulted ceilings, and impact-resistant windows and doors, ensuring both style and peace of mind. Enjoy a modern eat-in kitchen equipped with luxurious quartz countertops, stainless steel appliances, and custom cabinetry with soft-close features, perfect for culinary enthusiasts.
Step outside to discover your serene screen-enclosed pool, surrounded by sleek travertine decking and ample outdoor space, ideal for alfresco dining and relaxation under the sun. The brand-new cottage, designed with European-inspired cabinetry and meticulous attention to detail, offers a stylish retreat for guests or tenants, making it an attractive option for discerning buyers.
Currently operating as a successful short-term rental, the main home generates impressive annual gross income of up to $130,000, with additonal future bookings already secured. The cottage boasts projected income potential of $75,000 per year. Both properties come equipped with hurricane impact windows, a durable metal roof, and a brand-new irrigation system, ensuring peace of mind for any homeowner or investor.
The lush, tropical landscaping and charming brick-paved walkways enhance the property's curb appeal, making it a true private oasis. Whether you envision this as your full-time residence, a vacation getaway, or a lucrative investment opportunity, the possibilities are endless. Live in the main home while renting out the cottage, or operate both as separate rentals for maximum income potential.
Located just a short walk, bike ride, or golf cart journey from the vibrant Atlantic Avenue and Pineapple Grove, you'll have easy access to fine dining, boutique shopping, lively green markets, local festivals, and pristine beaches. This slice of paradise in the coveted Lake Ida community offers the perfect blend of relaxation and adventure.
This is your chance to own this exceptional propertyan unparalleled opportunity for both homeowners and investors alike!
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Cap Rate Calculator
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 |
|---|---|---|---|
| Feb 12, 2025 | Sold | ||
| Sold | |||
| Jan 10, 2025 | In contract | - | |
| In contract | |||
| Jan 3, 2025 | Price Decreased |
$1,899,900
↓ $49K
(2.5%) | |
| Price Decreased | |||
| Dec 3, 2024 | Price Increased |
$1,949,000
↑ $49K
(2.6%) | |
| Price Increased | |||
| Nov 2, 2024 | Listed by Lang Realty/Delray Beach | $1,899,900 | |
| Listed by Lang Realty/Delray Beach | |||
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About Lake Ida Manor
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017