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5140 Pine Grove Drive
About This Property
Step back in time and fall in love with the quintessential ''Old Florida'' character of this enchanting 2-bedroom, 1.5-bath home, perfectly situated on an expansive nearly 1/3rd acre corner lot. This is a rare opportunity to own a home with incredible potential in a highly sought-after, non-HOA neighborhood, minutes from everything West Palm Beach has to offer. Need a dedicated workspace or an extra guest room? A valuable bonus den/home office, complete with a closet, provides that coveted flexible living area. (see more) From the moment you arrive, you'll appreciate the generous outdoor space, ideal for creating your very own private oasis. Inside, discover a layout that invites creativity and comfortable living. The newer roof (2019) offer peace of mind for years to come and the updated full bathroom provides modern convenience, while the primary suite offers a private half bath, retaining a touch of original charm.
This home is a true gem for those seeking to infuse their personal style and create their dream residence. Its unbeatable location offers unparalleled convenience, with Palm Beach International Airport (PBI) and I-95 just a 5-minute drive, putting all of West Palm Beach's vibrant attractions, dining, and cultural experiences within easy reach.
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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 |
|---|---|---|---|
| Sep 9, 2025 | Sold | ||
| Sold | |||
| Jul 29, 2025 | In contract | - | |
| In contract | |||
| May 30, 2025 | Listed by True Floridian Realty | $429,000 | |
| Listed by True Floridian Realty | |||
| | |||
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Discover a Piece of ''Old Florida'' Charm on a Sprawling Corner Lot! Step back in time and fall in love with the quintessential ''Old Florida'' character of this enchanting 2-bedroom, 1.5-bath home, perfectly situated on an expansive nearly 1/3rd acre corner lot. This is a rare opportunity to own a home with incredible potential in a highly sought-after, non-HOA neighborhood, minutes from everything West Palm Beach has to offer.From the moment you arrive, you'll appreciate the generous outdoor space, ideal for creating your very own private oasis. Inside, discover a layout that invites creativity and comfortable living. The newer roof (2019) offer peace of mind for years to come (see more)
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| Aug 14, 2007 | Sold | ||
| Sold | |||
| Nov 4, 1998 | Sold | ||
| Sold | |||
Property Highlights
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About Palm Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017