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5567 Rico Drive
About This Property
Discover an amazing opportunity to live near the beach in this beautifully updated 3-bedroom, 2-bathroom waterfront home with a 2-car garage. Perfectly located just off the Intracoastal in one of Boca Raton's most desirable neighborhoods.
Bring your boat- large or small! The property boasts approximately 75 feet of waterfront with a recently inspected updated seawall, a new dock with power, deep-water canal access, and no fixed bridges, offering quick, easy access to the Intracoastal and ocean.
Inside, the home features wood-look tile flooring throughout, impact windows and doors for peace of mind, and a spacious open layout ideal for modern coastal living. Step outside to your own private retreat with a resort-style heated saltwater pool and hot tub, elegant marble paver deck, covered patio, fenced yard, and lush tropical landscaping. This house is perfect for entertaining or relaxing in your personal paradise.
Ideally situated less than five miles from vibrant Atlantic Avenue, you'll enjoy world-class shopping, dining, and entertainment just minutes away without any HOA restrictions!
Priced to Sell - Your Dream Waterfront Lifestyle Awaits! Home next door on a .18 acre lot is off market but also available for buyers looking for a double lot.
What's special---
No HOA
Deep-water canal with 75 ft. updated seawall
New dock with power, no fixed bridges
Heated saltwater pool & spa
Impact windows & doors
2-car garage
Move-in ready & beautifully updated
Minutes to beaches, downtown Delray & Boca attractions
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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 |
|---|---|---|---|
| Jan 8, 2026 | Sold | ||
| Sold | |||
| Dec 15, 2025 | In contract | - | |
| In contract | |||
| Oct 31, 2025 | Listed by EXP Realty LLC | $1,975,000 | |
| Listed by EXP Realty LLC | |||
| Jul 18, 2025 | Listed | $2,195,000 | |
| Listed | |||
| | |||
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Motivated seller! Amazing opportunity to live near the beach in this fully updated, move-in ready three bedroom, two bathroom home with a two car garage. Bring your boat large or small as the lot has over 70 feet of updated seawall on a deep canal, a new dock with power, and no fixed bridges with easy access to the intracoastal and ocean. Featuring wood-like tile throughout and the peace of mind of impact windows and doors, the home is perfect for entertaining with a resort style heated saltwater pool, hot tub, marble paver pool deck with a covered patio, fenced yard, and pristine landscaping. Ideally located less than five miles from downtown Atlantic Avenue and near world class shopping, dining and entertainment.
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| Jun 1, 2020 | Sold | ||
| Sold | |||
Property Highlights
Building Info
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Price/ft²
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About Caribbean Keys
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EXP Realty LLC
Last Updated: 3 months ago
Data Source: Beaches MLS, MLS# R11136786
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