968 Cypress Drive
About This Property
The owners spared no expense and added all smart home locks and security systems, a 20,000 lb boat lift, expanded the patio/dock, and upgraded the dock to both 30amp and 50amp electrical service. It is ready for your boat!
This home is situated in iconic Tropic Isles of Delray Beach. It is a short drive to both Atlantic Avenue and Mizner Park in Boca Raton. It is also located conveniently between the Boynton and Boca Inlets, as well as the West Palm and Fort Lauderdale airports. The location can't be any better!
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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 |
|---|---|---|---|
| Apr 3, 2023 | Sold | ||
| Sold | |||
| Jan 22, 2023 | Listed by Keller Williams Realty Boca Raton | $4,329,000 | |
| Listed by Keller Williams Realty Boca Raton | |||
| Aug 5, 2021 | Sold | ||
| Sold | |||
| May 12, 2021 | Listed by Keller Williams Realty Boca Raton | $3,299,000 | |
| Listed by Keller Williams Realty Boca Raton | |||
| May 9, 2016 | Sold | ||
| Sold | |||
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About Tropic Isle North
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017